|Day's Range||1.281 - 1.288|
|52 Week Range||1.2663 - 1.4377|
LONDON MARKETS London’s main bourse fell sharply Tuesday amid a global rout spurred by trade tensions and losses for big U.S. tech and internet names in the U.S. How are markets performing? The FTSE 100 (UK:UKX) fell 0.
European stocks were facing their worst finish since late 2016 on Tuesday, as a global equity rout spread around the globe, with tech stocks particularly hard hit.
The U.S. dollar Tuesday bounced back from a modestly negative performance at the start of the week, in turn putting pressure on its major rivals, the euro and British pound, that continue to grapple with local political issues.
Investing.com - The dollar slid lower on Tuesday, to trade at a near two week low against a currency basket as investors remained subdued ahead of the U.S. Thanksgiving holiday later in the week.
Investing.com - The dollar was flat while the Aussie slipped on Tuesday. Comments by New York Fed President John Williams received some focus as he said the Federal Reserve “will be likely raising interest rates somewhat.”
Investing.com – The dollar fell against its rivals Monday after soft housing data pointed to a continued slowdown in the U.S. housing market.
The National Association of Home Builders’ monthly confidence index dropped to 60 in November, compared with 68 in the previous month, leading the buck to extend its losses versus rivals. The greenback had already traded rather muted earlier in the day, adding on from Friday’s weakness that came on the coattails of comments by Federal Reserve Vice Chairman Richard Clarida. In an interview with CNBC, Clarida Friday offered a more dovish view on the Fed’s monetary policy normalization path, and warned of a slowing global economy.
London’s main stock index Monday closes lower to start the week as the British pound firmed with the vagaries of politics around Brexit.
Investing.com - The dollar continued lower on Monday, adding to last Friday’s losses but hovering about the dollar index's 96 psychological handle, as investors reevaluated the future pace of interest rate hikes.
Last week, Powell highlighted the growth of volatility in the global financial markets, the fading effect of tax reform, as well as the decline in demand outside the United States. All these factors, as noted by the head of the Fed, may interrupt rising rates by the middle of next year.
Investing.com - The dollar dipped against a currency basket on Monday, adding to Friday’s losses amid uncertainty over the pace of future U.S. interest rate hikes, while the pound was holding above the 1.28 level as Brexit worries rumbled on.
The Euro continued to struggle around the 1.14 region on the Friday’s session, with a back and forth momentum. The region above the 1.14 level has become significantly resistive and all the negative headlines related to Brexit and Fed raising interest rates will keep the market under pressure. There is still a significant amount of bearish sentiment present around the market and if it breaks through the 1.13 level, then it is likely to reach down to the 1.11 level.
The new week opens on thin trading, but risk appetite for sterling investors seems to be heading towards the downside.
A quiet day on the data front could see the Pound and the EUR under pressure, with Brexit and the Italian coalition government in action.
Geo-politics will remain center stage with Britain and Italy heading to their final showdowns, while trade talk chatter will also influence.
The combination of the tame inflation report, comments from Fed Chair Powell on cooling global demand and the dovish comments from Fed Vice Chair Clarida stating the Fed is getting closer to neutral, are all signs the Fed may slow its pace of rate hikes and this should be bearish for the U.S. Dollar.
It’s hard to imagine a more chaotic run-up to Britain’s exit from the European Union. Here’s why investors can’t ignore it.
The U.S. dollar sells off versus its major rivals on Friday, after Federal Reserve Vice Chairman Richard Clarida offers some dovish comments. The ailing buck gives more room to rebound to the British pound, which recovers from its worst one-day performance in more than two years on Thursday.
In could be a tense weekend for currency traders and others keeping a close eye on the political turmoil surrounding the British government’s efforts to negotiate its exit from the European Union.
The British pound continue to go back and forth during the trading sessions that made up the previous week, as we have so much in the way of confusion out there. As long as the Brexit is still a question, this will continue to be the way forward.
The British pound has bounced a bit during the trading session on Friday, as the 1.27 level has offered a significant amount of support more than once. That is an area where we will see a major fight, but if we were to break down below there, we could go much lower.
The dollar fell on Friday after Richard Clarida, vice chairman of the Federal Reserve, said that interest rates were near neutral, but indicated that a December rate hike is still possible. Clarida told CNBC on Friday that the Fed hasn’t raised rates too far or fast but that it’s too early to know if they should increase rates too far to hold back growth. The 2.5% to 3.5% range is considered a neutral level that doesn’t stimulate or hinder the economy, he said.