Brexit

The UK Cabinet was invited to study the Brexit agreement without the crucial part on the Irish border that is being negotiated in Brussels. After breaking above the resistance zone of 1.3085-1.3100  the GBP/USD now targets 1.3200 representing a 50 percent Fibonacci retracement of a post-...

The GBP/USD is trading little changed above 1.2800 after falling to the 7-week low of 1.2795 on Thursday. The rumors of deep division within Theresa May’s Cabinet and Brexit negotiating team surfaced. The GBP/USD is set to suffer further fall should the US third-quarter GDP surprise on the...

Brexit negotiations remain stuck, four months ahead of Brexit Day. Postponing the decision is becoming a viable option. The Pound could rise in case a hard Brexit is averted. The European Union and the United Kingdom have made significant progress on a wide range of issues in the Brexit...

The GBP/USD fell 0.5 percent to trade at October 2018 low of below 1.2920 as the Brexit impasse continues. Almighty UK press reports that Prime Minister Theresa May has "lost control" over her government after the EU Brexit summit fail. The GBP/USD is trapped in a downward sloping trend...

GBP/USD is correcting towards 1.3000 after 130 pips slump on Monday that saw the market selling all the way down to the target price of 1.2940.  Sterling is still caught in a downward sloping trend with a 55-period moving average acting as a resistance at 1.3020.  The Bank of England...

The GBP/USD slipped as low as 1.3011 on Friday as the combination of Brexit summit failure and UK retail sales slumping -0.8 percent m/m weighed on the currency pair. Although European officials still hope for Brexit deal, a no-deal scenario becomes a serious option. After the 1.3100 key support...

The UK unemployment rate remains at 4.0 percent in three months to August. The UK regular pay rises 3.1 percent y/y while total pay rose 2.7 percent y/y, both figures exceeding the market expectations. The UK claimant count rises 18.5K in September, missing the market estimates of 10.0K. With the...

The ZEW Indicator of Economic Sentiment for Germany dropped to -24.7 points in October as trade wars and hard Brexit fears played the role. October reading of ZEW index matched July 2018 low, the lowest since August 2012.  The extent of the monthly drop of 14.1 points is remarkably strong....

The GBP/USD closed the gap on the downside after the weekend abrupt end to Raab-Barmier meeting. The EU diplomats say that this week’s Brexit summit may not produce a Brexit breakthrough. The GBP/USD will face the Trinity on major UK macroeconomic indicators including labor market report, UK...

What you need to know before markets open Main themes: China’s exports rose 14.5 percent in USD terms while imports rose 14.3 percent in September. China's trade surplus with the US hit a record high in September and that could boost fears of a further escalation of the trade war. German...

The contagion that flared up Wednesday on Wall Street spread its wings and landed in Asia and Europe early Thursday, sending those markets down dramatically. Sharp losses in U.S. futures overnight hint at the chance for more declines as many investors appear to be in panic mode. However, there were...

The US Dollar trades lower against majors amid global equity market selloff. The GBP/USD retreated from 1.3244 high to below 1.3200 ahead of the Bank of England Governor Mark Carney speech. The EU chief negotiator Michel Barnier said 85 percent of Brexit deal is settled. The Bank of England chief...

The GBP/USD slid below mid 1.3100s after being boosted by Brexit deal optimism. The UK manufacturing output fell -0.2 percent m/m in August compared to a 0.1 percent rise expected. Monthly UK GDP remained unchanged in August, missing the market prediction. The Brexit deal optimism boosted GBP as...

The GBP/USD slides lower to trade below 1.3100 with US benchmark Treasury yields rising to April 2011 high of 3.25 precent. The confluence of 100-day moving average and 38.2 percent Fibonacci retracement line represents a key resistance area. The GBP/USD is trading within a range of a 50-day and a...

The UK manufacturing output is expected to increase 0.1 percent m/m in August after falling -0.2 percent in July.  The UK monthly GDP is expected to decelerate to 0.1percent m/m in August.  The IMF lowered the UK GDP forecast for 2018 to 1.4percent, down by -0.2 percent from April...