|Day's Range||1.322 - 1.322|
|52 Week Range||1.2481 - 1.4377|
Equities slid after new reports showed that the manufacturing industries in the U.S. and Germany slid in March, fueling concerns of a global slowdown.
The U.S. dollar climbs in Friday trading, as investors grapples with an inverted U.S. Treasury yield curve and another round of disappointing economic data in the eurozone region that put pressure on the euro.
Sterling Pound sets off uptrend following Brextension. Lonnie pair uplifts over weak Iran Export numbers. AUD/USD plunges amidst Euro’s Fall.
The British pound fell during most of the week, as we continue to see plenty of Brexit nonsense across the headlines. The market simply cannot decide what it wants to do quite yet, although it does seem to be “leaning” to the upside overall.
The British pound fell initially during trading on Friday but has seen a significant amount of buying pressure underneath as the EU offered the United Kingdom a bit of an extension.
GBP/USD Pair gained strength on a two-week Brextension. Pair strongly consolidating and providing no clear direction.
Investing.com - The U.S dollar edged higher against its rivals Friday following a rebound in U.S. home sales, but gains were limited by a sharp rise in the yen as U.S. government bond yields slumped amid fears of slowing growth.
After the show of strength in the Wednesday’s session, the pair gave back the gains in Thursday’s session, breaking below the 1.14 level once again. The region above the 1.14 level has been extremely resistive for the pair and given the ECB’s softer stance on interest rate hike as well, the pair will continue to struggle and remain volatile. The 1.1350 level underneath is strong support and likely to attract value. …Read MoreGBP/USD
Economic data comes back into focus today. The Eurozone’s private sector PMI numbers will indicate whether the slowdown was temporary or worsening…
investing.com -- The British pound is recovering in early trade in Europe on Friday from a buffeting Thursday after the European Union agreed to only a minimal extension of the deadline for Brexit.
Investing.com - The U.S. dollar fell on Friday in Asia as traders digested the latest news on Brexit and Sino-U.S. trade development.
The U.S. dollar climbs in early Thursday trading, retracing some of its losses from the previous session that it incurred after the Federal Reserve reiterated its dovish monetary policy stance.
The European Union proposed a conditional extension of the Brexit deadline until May 22 -- when elections for the European Parliament begin -- in draft conclusions of a European Council meeting Thursday, according to reports. However, the extension would be tied to the U.K. Parliament supporting Prime Minister Theresa May's withdrawal deal. The deal, or an amended version thereof, is expected to be put to vote next week. The EC said an extension beyond May 22 was impossible due to the EU elections, which the U.K. isn't intending to take part in. May had requested an extension until June 30. At present, the U.K. is set to leave the EU on March 29 without a trade deal in place. The British pound , dropped to a session-low of $1.2981 shortly before the extension proposal became known. It was its lowest level in about two-weeks. Sterling last bought $1.3046, down 1.1% from Wednesday. The euro , meanwhile, bought £0.8700, up 0.6%.
The British pound pulled back a bit during the trading session on Thursday, as we continue to see the market trying to grind its way higher. Obviously there are a lot of headlines out there that continue to move the markets around, so choppiness abounds.
Investing.com - The U.S dollar rose sharply against its rivals Thursday amid upbeat manufacturing data and a slump in sterling.
London markets gained as investors digested a positive U.K. retail sales surprise and a third vote on the Brexit transition agreement began to look more likely, news that roiled the pound. How did markets perform? The FTSE 100 (UK:UKX)(UK:UKX) rose 0.
The Bank of England left its main lending rate unchanged at 0.75% on Thursday, in line with expectations. The central bank said new economic data has been mixed and the U.K.'s economic outlook will depend significantly on the nature and timing of Brexit. "Shifting expectations about the potential nature and timing of the United Kingdom's withdrawal from the European Union have continued to generate volatility in UK asset prices, particularly the sterling exchange rate," said the BOE statement. "Brexit uncertainties also continue to weigh on confidence and short-term economic activity, notably business investment." The market reaction to the policy update was muted, with the British pound holding its losses in response. Sterling last bought $1.3115, down 0.6%. In other assets, the 10-year gilt also reacted little, last yielding 1.08%, while U.K. stock benchmark FTSE 100 held on to its modest gain, last up 0.4%
British Pound is trading range bound as investors have taken a cautious stance awaiting directional cues from today’s major events.
The Kiwi and Aussie Dollar find strong support in the wake of a more dovish than expected FED. Will be the BoE sink the Pound later today?
The Federal Reserve took a 2019 rate hike off the table on Wednesday and released details of a plan to end the monthly reduction of its balance sheet. Although U.S. stocks turned positive after the decision, financial stocks dragged on the market due to their sensitivity to low interest rates, leaving the Dow lower at the close. At 5:41 AM ET (9:41 GMT), the blue-chip Dow futures fell 22 points, or 0.1%, S&P 500 futures dropped 1 point, or 0.1%, while the Nasdaq 100 futures edged forward 5 points, or 0.1%.