|Day's Range||1.253 - 1.266|
|52 Week Range||1.2481 - 1.4377|
Investing.com - This week investors will have their attention firmly focused on monetary policy as the Federal Reserve, the Bank of England and the Bank of Japan issue updates at a time of increased market volatility.
Ahead of the meeting, investors are expressing concerns about the U.S. economy and whether the Fed would hike further after December. As recent as September, the Fed came out as a little too optimistic about the economy next year. At this meeting, they may come down a little on their assessment of future economic growth. Investors aren’t expecting anything new from the Bank of Japan (BOJ). Look for policymakers to leave its benchmark rate unchanged at -0.1%. Japan is also scheduled to release its latest inflation data. The Bank of England (BOE) is expected to keep interest rates unchanged at Thursday’s meeting. Policymakers are holding back on raising rates at this meeting because of recent mixed economic data and fears over Brexit.
Last week, the U.S. government reported on producer and consumer inflation, two factors the Fed will consider this week when deciding on future monetary policy. Investors also had the opportunity to respond to last month’s retail sales data. The dollar’s gains last week may have been limited by increased bets the Federal Reserve might reduce the number of interest rate hikes after a widely expected 25-basis point rate increase next week.
LONDON MARKETS London markets ended lower on Friday, as slow Chinese business activity in November rebooted refreshed worries over global economic growth. Meanwhile, Brexit uncertainty continues to hang in the air amid a lack of signals U.
The British pound broke down during the week, slicing through the 1.27 level as there was a “no confidence vote” for Teresa May. She did survive it, so that was a brief reprieve for the British pound, but as you can see the trajectory continues lower.
The British pound continues to slide during trading on Friday, as the relief rally after Teresa May avoided a no-confidence vote has been completely wiped out. She went to Brussels, and they offered her nothing in return. The odds of a hard Brexit are increasing by the day.
Investing.com - The U.S. dollar was higher on Friday after better-than-expected retail sales and amid expectations that the Federal Reserve will raise rates next week.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.56% to 97.60 as of 10:02 AM ET (15:02 GMT).Retail sales accelerated in November, with core retail sales up 0.2%, alleviating fears of a slowing U.S. economy.Meanwhile investors are focused on an upcoming meeting of the U.S. central bank, which is expected to increase rates, with a 79. ...
The U.K. prime minister on Friday said she would able to secure the “further clarifications” to her Brexit deal that she needs to win the approval of British lawmakers.
The U.S. dollar was higher on Friday, as investors turned their focus to the expected Federal Reserve rate increase next week, even as uncertainty over next year’s hikes kept gains in check. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.5% to 97.52 as of 5:20 AM ET (10:20 GMT). "There is a lot of disagreement in the markets over the Fed's rate hike course in 2019 with traders expecting anywhere between one to four rate hikes," said Michael McCarthy, chief markets strategist at CMC markets.
The Euro continued to trade sideways during the Thursday’s session, as the market looks confused with the Federal Reserve’s stance and some of its comments lately on the interest rate hike. The 1.13 level underneath and 1.1450 level above will be the major support and resistance point for the market. The British Pound rallied a bit during yesterday’s session but is likely to experience significant resistance above as both 200 Day EMA line and 1.27 level has turned resistive.
The Brexit headlines might continue to act as an exclusive driver of the sentiment surrounding the British Pound in near future.
Some weak numbers out of China this morning weighed on the Aussie Dollar and Kiwi Dollar early, with a busy economic calendar putting focus on the EUR & USD
The euro slipped earlier in the session, after European Central Bank President Mario Draghi sounded more downbeat than expected in the central bank’s last news conference of the year. The ECB left interest rates unchanged, as expected, and confirmed it would wind down its quantitative easing efforts at the end of the month. “The slightly dovish tone of the update put pressure on the single currency,” said David Madden, market analyst at CMC Markets.
Investing.com - The U.S. dollar was higher on Thursday, as the number of people who filed for first-time unemployment benefits hit a two-and-a-half month low.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.19% to 97.20 as of 10:18 AM ET (15:18 GMT).The dollar was boosted after the U.S. Department of Labor said that the number of individuals applying for initial jobless benefits in the seven days ended Dec. 8 decreased by 27,000 to a seasonally adjusted 206,000. ...
The British pound has rallied a bit during the day on Tuesday but continues to find resistance near the 1.27 level above continues offer massive resistance.
Unless breaking the 1.2715-20 resistance-confluence, GBPUSD’s recent pullback can continue nurturing doubts about its strength to target the 1.2850 level. Given the pair’s ability to rise above 146.00, the 146.50, the 146.80 and the 147.30 can please the buyers.
Investing.com - The British pound and euro both edged higher on Thursday, as investors kept their focus on Brexit developments and the European Central Bank's final policy meeting of the year.
May’s last-minute no-confidence win sees her holding onto power within her own Tory party, but Brexit progress has ground as EU doesn’t seem to be in mood for renegotiation while UK parliament is ready to reject any proposal made by PM May.
Investing.com - The U.S. dollar was flat, while the British pound edges down on Thursday in Asia after U.K. Prime Minister Theresa May won a vote of confidence in her leadership of the Conservative Party.
It’s all eyes on the EU and Theresa May, the chances of a deal laying in the hands of Juncker and Theresa May’s peers who could sink May and the GBP.
Investing.com - Asian markets rose in morning trade on Thursday following reports that China is considering postponing some targets of its ambitious plans to dominate high-end technologies, as Beijing tried to ease trade tensions with the U.S.
It’s a big day for Europe, with the ECB Press Conference to drive the EUR and Theresa May’s last ditch efforts in Brussels to influence the GBP.
Investing.com - The U.S. dollar was pushed back by a surge in the pound as traders bet UK Prime Minister Theresa May will survive a vote of no confidence.
The British pound is one of the strongest major developed market currencies on Monday, advancing as U.K. Prime Minister Theresa May faces a vote of no-confidence.
The U.K. stock market ends higher on Wednesday, as trade optimism held the markets in the green, despite the fact that U.K. Prime Minister Theresa May was set to face a leadership challenge amid broad discontent over Brexit.