Trade Successfully
As rising US yields and ongoing trade tensions fuel concerns about the global growth outlook, GDP numbers out of China will be the main highlight of the coming week. There will be plenty of other important data too as attention turns to monthly jobs, inflation, and retail sales figures, with
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UK GDP data for August will hit the markets at 0830 GMT on Wednesday. Forecasts point to figures that are unlikely to spur too much volatility in sterling. Instead, the most crucial driver for the currency moving forward will be how the Brexit talks play out. With the EU seemingly
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GBP/USD unlocks 23.6% Fibonacci; creates a bullish correction. GBP/USD seems to be in progress to post a bullish correction of the strong sell-off following the pullback on 1.4375. The pair successfully surpassed the 23.6% Fibonacci retracement level of the down-leg from 1.4375 to 1.2660, around 1.3066, as well as the 20- and
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US inflation indicators and Chinese trade numbers will be the big data releases during the next seven days, with the economic calendar otherwise looking relatively light. August industrial output figures will be the focus in Europe, while the minutes of the European Central Bank’s September policy meeting should also attract
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The US jobs report for September due on Friday at 1230 GMT is undoubtedly the week’s data highlight. Despite the prominence of the release and barring a significant deviation from expectations, the numbers are unlikely to alter the US central bank’s monetary policy outlook. Still, some near-term volatility in dollar
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GBP/USD extends negative move; downfall could pause in the short-term. GBP/USD has been erasing gains since the peak at 1.3297 on September 20 to fall back into the Ichimoku cloud. Yet, the RSI indicates that the downfall may stall as the indicator is near its 50-neutral mark, while the Stochastics suggest that a
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As the UK’s ruling Conservative Party wraps up its annual conference on Wednesday, the nation will also see the release of its services PMI at 0830 GMT. Forecasts suggest the UK’s largest sector cooled a little in September, which may prove somewhat negative for the pound. That said, the currency’s
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Markets will be looking to the September US jobs report for direction after a mostly unchanged dot plot chart by the FOMC this week failed to clear the fog for the 2019 rate outlook. Apart from the nonfarm payrolls report, monthly PMI readings out of China, the United Kingdom, and
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All roads will lead to Birmingham on Sunday, where the UK’s ruling Conservative Party will hold its annual three-day conference to map out its political strategies. With the coming weeks being the make-or-break period for reaching a Brexit deal, sterling will likely be ultra-sensitive to any remarks around the negotiations,
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GBP/USD finds support near 23.6% Fibonacci erasing some losses. GBP/USD erased some of Friday’s significant losses yesterday and still remains above the 23.6% Fibonacci retracement level of the down-leg from 1.4375 to 1.2660. The buying interest following the rebound on the 1.2660 support level has shifted the bearish outlook to a neutral
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