|Day's Range||1.299 - 1.299|
|52 Week Range||1.1959 - 1.3349|
It’s another big week for the global financial markets, Corporate earnings, Brexit, trade and economic data in Focus. It’s also Draghi’s last media show…
The British pound initially pulled back a bit during the week but then shot through the roof and slammed into the 1.30 level. Ultimately, this is a market that has possibly gotten ahead of itself as Parliament is yet to vote on the deal Boris Johnson struck.
The British pound has gone back and forth during the session on Friday, as traders await the results of Parliament voting on the deal that Boris Johnson returned from the European Union with. That being said, we are a bit overstretched going into the weekend.
British Prime Minister Boris Johnson and European Union leaders agreed a new deal for Britain to exit the bloc. The possible deal news was the main contributor behind the strengthening of the British Pound against the dollar by more than 6% over the week close to 1.30 levels at the peak of growth on Thursday.
Investing.com - The U.S. dollar was lower against other currencies on Friday, while the euro was buoyed by hope that a Brexit deal will help mitigate risks of a recession in the bloc.
The Canadian dollar has settled down on Friday, after considerable gains on Thursday. The British pound is steady, ahead of a possibly historic vote over Brexit on Saturday. The Mexican peso continues to trade at a 10-week high against the greenback.
GBP/USD has seen an incredible surge higher over the last week or so. Where the pair goes from here largely depends on how UK parliament votes on the latest Brexit Deal.
3 percent – that’s the new IMF global growth forecast for 2019. It’s the lowest one since the Great Financial Crisis. Is the much talked about recession coming? And what about the just reached Brexit deal? Can they both make gold rally?
Investing.com -- The dollar was mixed in narrow ranged in early trading in Europe Friday, while the pound retreated as doubts swirled both about the merits of Boris Johnson’s Brexit deal and about the likelihood of him persuading Parliament to approve it.
While China’s economy slowed in the 3rd quarter, things could have been much worse. Relief all round as focus now shifts to Brexit…
The British pound has gone back and forth during the trading session on Thursday as we continue to see a lot of volatility in this market based upon the idea of a Brexit deal. With that being the case, the market looks likely to be erratic going forward. One thing you can say though, it’s definitely overbought.
Recent rotation in multiple foreign currencies hints at the fact that a new stage of the “Capital Shift” process is taking place and that skilled technical investors need to pay very close attention to how these currencies continue to react over the next 3 to 6+ months. In the recent past, most of the world’s foreign currencies were declining in value while the US Dollar continued to strengthen. In fact, we authored many research articles about these trends and how weakness in foreign currencies will drive new foreign investment into the US stock markets for two simple reasons; strength and security.
Equities rallied on the news as well as the British Pound, which jumped more than 1%. At the same time, investors dumped their hedge protection, leading to weakness in the Japanese Yen, Gold and U.S. Treasury bonds. The U.S. Dollar is also getting crushed against a basket of currencies.
Investing.com - The U.S. dollar remained tepid on Thursday, while sterling tried to hold onto earlier gains after reports that the U.K. and European Union had reached a Brexit deal.
Investing.com - Sterling reversed gains on Thursday as hopes for a Brexit deal were dealt a serious blow after Northern Ireland's Democratic Unionist Party said it will vote against a Brexit deal.
Investing.com -- The British pound fell in early trading in Europe on Thursday after Northern Ireland's Democratic Unionist Party said it couldn't accept U.K. Prime Minister Boris Johnson's latest proposals on Brexit. The DUP's resistance effectively rules out any chance of an agreement between the EU and U.K. on the latter's withdrawal at a summit that starts in Brussels later on Thursday.
The British pound initially tried to rally during the trading session on Wednesday but found enough resistance at the 1.2850 level to roll over. That being said though, the market ran down to the 1.27 level only to bounce again.
Investing.com - The U.K. and EU will not announce a deal on Brexit Wednesday, according to several published reports. But a deal could still be announced later in the week as it was unclear at what juncture negotiations were at.
Stocks were off slightly as investors considered a mixed batch of U.S. economic data, ongoing geopolitical concerns and more corporate earnings. Earlier in the session, the Dow briefly broke into positive territory.