Forex News, Page 3

With a Plan B seemingly in the wind, Theresa May could be in hot water later today, with Parliament getting restless.

Geo-political risk will remain the key driver ahead of the weekend, with Brexit and the possibility of a reduction in tariffs on Chinese goods on the table.

With Theresa May and the Tories surviving the day, focus will shift to the EU and whether the British PM can find better terms.

Some analysts, like the chief of currency strategy at Morgan Stanley, are saying that the dollar rally – which started in early 2018 – has come to an end.

The British pound, as expected, experienced a high volatility day on Tuesday. As the result, however, the currency avoided serious pressure, ending Tuesday’s near levels at the opening. During the day on Tuesday, the pressure on the pound increased, sending GBPUSD from 1.2850 to 1.2700.

With the Brexit deal sunk and Theresa May needing to head back to Brussels, there’s just a vote of no confidence to survive later today…

Today, the British Parliament is set to vote on Theresa May’s Brexit deal. Most economists are forecasting that the majority of MPs will vote against it, which will certainly have a negative impact on the pound. On the other hand, approval for the deal would certainly come as a surprise

It’s “risk on” in the early hours, with the main event of the day being Brexit. Has Theresa May done enough and will it sink the Pound?

China sees imports and exports slide, adding to market jitters at the start of the week.

Retail sales figures out of Australia provide the Aussie Dollar with a bounce as focus shifts to the UK, today’s stats and Brexit chatter.

During the Wednesday trading session, the US markets positions were actively restoring, what not to say about the national currency due to news around the Fed.

With a light economic calendar for the day ahead, Brexit debate and the ECB monetary policy meeting minutes will be in focus.

It’s risk on through the Asian session, driving demand for commodity currencies, with focus being on U.S – China trade talks and the BoC policy decision.

No updates from Beijing, testing market resolve, with economic data providing yet more disappointment, this morning.

The Dollar’s on the back foot early on, as the markets shift attention to trade talks, today’s stats and parliamentary debate on the Brexit deal.

The week began with weak manufacturing data from China and ended with a major reversal in tone from the leader of the U.S. Federal Reserve.

With China’s service sector PMI easing some market angst, focus shifts to the Dollar and wage growth, NFP numbers and FED Chair Powell.

The major support according to the daily chart was the May 29, 2018 main bottom at 108.114. This chart showed that sellers had a clean shot at 104.600, which makes me wonder if it was actually a “flash crash”, or a well-played strategy to break the Dollar/Yen.

It’s risk off in the FX world, with the Kiwi Dollar and Aussie Dollar the victims of Apple’s sell-off and weak data out of China, as the Yen rallies.

Economic data out of China gives the markets a rude awakening in the New Year, wiping out risk appetite at the start of the day.