|Day's Range||1.219 - 1.229|
|52 Week Range||1.2019 - 1.3349|
After a sharp move higher yesterday on the back of positive Brexit comments, the British pound has eased lower in early trading on Friday.
Boris Johnson returns and having failed to fully push the door open to renegotiations could be in for a tough week ahead…
A scheduled FED Chair Powell speech from the Jackson Hole symposium is the main event of the day. He may feel Trump over his shoulder…
Today, ECB Meeting minutes read that the outlook for the economy remains weaker and further stimulus would come as early as in September. Greenback had maintained a choppy performance today, remaining within 98.14/98.38 range levels.
The British pound took off to the upside during the trading session on Thursday as we pierced the 1.2250 level early in North American trading as Boris Johnson speaks in France. Ultimately, this is probably much to do about nothing.
Merkel, Macron strike different tones but agree there’s little scope and time to renegotiate Irish backstop
Investing.com - The U.S. dollar dipped on Thursday before recovering after data showed a decline in the manufacturing and services sector as businesses remain wary about the health of the U.S. economy.
It’s a busy day ahead as the markets react further to the FOMC meeting minutes. Chatter from Jackson Hole may overshadow the stats…
Cable continued to stay consolidated near 1.1264 level on Wednesday. Upbeat July Canadian Consumer Price Index (CPI) remained as the primary driver that lifted the CAD currency.
The British pound ran into a bit of resistance during the trading session on Tuesday but ran into the 1.22 level to roll over a bit. At this point, the question is whether or not we are trying to form some type of bottoming pattern?
Investing.com - The U.S. dollar was hovering just below three-week highs in subdued trade on Wednesday as investors looked ahead to the minutes of the Federal Reserve’s July meeting later in the day for fresh clues on the monetary policy outlook.
It’s the start of a mini-tour of the EU as Johnson looks to change the Brexit script. An unyielding EU lies in wait and it may do more harm than good.
Investing.com - The euro recovered from earlier lows after Italy’s Prime Minister Giuseppe Conte said he is resigning ahead of no-confidence vote, putting the future of the Italian government in jeopardy.
The RBA looks set to hold on rates near-term. For the day ahead, a lack of stats will leave the markets exposed to any trade war chatter.
The British pound fell a bit during the trading session on Monday to kick off the week, as the Brexit continues to cause major issues. Ultimately, it looks as if the downtrend should continue. With that in mind I continue to sell signs of exhaustion.
The British pound was the strongest performer last week among the major currencies, but is under pressure in early trading today, underperforming all of its major counterparts.
Investing.com - The U.S. dollar was hovering near two-week highs against a currency basket on Monday as U.S. Treasury yields bounced back from recent lows amid hopes that major economies will seek to prop up slowing growth with fresh stimulus.
Investing.com - This week all eyes will be on the Federal Reserve as investors wait for fresh insights on how it may respond to growing fears of a recession after the Treasury yield curve inverted. The Fed will hold its annual gathering in Jackson Hole later in the week, where Chairman Jerome Powell is to deliver what will be a closely watched speech Friday. It will publish the minutes of its July meeting on Wednesday.
In the USD Index, the bulls continued to take over the bears even today. Interim, rising odds for a no-deal Brexit was making the Cable traders upset.
The British pound bounced during the week against the US dollar and what would have been a bit of a reprieve after a nasty selloff. That being said, there is a large, round, psychologically significant figure that has come into play as well.