|Day's Range||1.293 - 1.297|
|52 Week Range||1.1959 - 1.3349|
Chatter on trade remains the key driver, with negative updates from Beijing weighing on risk appetite early. The RBA added further pressure on the Aussie.
Investing.com - The U.S. dollar was little changed on Tuesday in Asia as traders await clarity on the Sino-U.S. trade developments.
The British pound initially surged higher during the trading session on Monday and a “risk on” type of move, but at this point we have seen the market feel that the 1.30 level, so it makes quite a bit of sense that we simply continue the overall consolidation.
The pound rose on Monday as polls show incumbent U.K. Prime Minister Boris Johnson extending his lead in the run-up to the Dec. 12 general election.
Investing.com - The U.S. dollar fell on Monday after CNBC reported that Chinese officials are pessimistic that a trade deal will be signed.
GBP/USD advanced in early trading on Monday to take out a declining trendline that extends back to a high posted in October. The bullish break sets a positive tone with a likely first target of 1.3000.
The GBP/USD is building a flag chart pattern (red/blue lines), which typically indicates continuation. What is the main target of the uptrend?
Investing.com -- Saudi Arabia bows to the inevitable and scales down the Aramco IPO - but it could still be the world's biggest ever. Hong Kong's stock market defies the most violent clashes yet between police and students. HP rejects Xerox's bid, and sterling surges after weekend opinion polls show Boris Johnson's Conservatives on track to win a majority in parliament and break the Brexit deadlock. Here's what you need to know in financial markets on Monday, 18th November.
The Pound makes an early move, supported by the latest opinion polls. The ECB Financial Stability Review and Trade will also influence.
While economic data will influence, Beijing and Washington will likely have the greatest impact on risk appetite in the week ahead.
The British pound has rallied a bit during the week, reaching towards the top of the flag that is currently being built. It should be noted that we are just above the 50 week moving average, which is a representation of support.
The British pound is very little during the trading session on Friday, as the market is struggling with the 1.29 handle. We are currently trying to build a bullish flag, but at this point most of what we have is noise.
The British and Canadian currencies are almost unchanged on Friday. We could see some movement with the release of U.S. retail sales at 13:30 GMT.
GBP/USD has continued higher after consolidating in a bull flag for most of the week. However, strong resistance is nearby from a declining trendline that originates from the October high.
The economic calendar shifts focus to the U.S Dollar. Following Powell’s positive outlook on the economy, retail sales will need to impress…
The British pound pulled back slightly during the trading session on Thursday, but quite frankly is sitting still and killing time more than anything else at this point. This is a good sign considering just how strong the move higher had been.
Investing.com - The U.S. dollar was unmoved on Thursday as the number of Americans applying for unemployment benefits rose to an unexpected five-month high and there were no new comments on monetary policy from Federal Reserve Chair Jerome Powell.
UK inflation fell to its lowest level in three years in October, but what looks like good news for consumers and the Bank of England doesn’t bode well for the future path of the economy. The Office for National Statistics said Wednesday that the annual inflation rate declined to 1.5% last month (from 1.7% in September) with a notable fall in prices of electricity, gas and other fuels. It said that it might have to cut rates if Brexit uncertainties persist into next year, and if global growth fails to pick up after the current slowdown.
The British pound continues to trade within a narrow range against the dollar but trades near a fairly important resistance area.
Particularly weak economic data weighed on the risk appetite early on, with a busy day of stats likely to test the markets further in the day.
It has been a very quiet Wednesday session. The Canadian dollar and British pound are flat, and EUR/GBP is also trading sideways. Stronger inflation numbers in the U.S. failed to cause any reaction in the curency markets.