No stopping sterling

26 May, 2016

There seems to be no stopping sterling right now. It was the strongest performer on the majors last week and is standing out by a comfortable margin once again this week. Most of this has come about on the belief that the ‘remain’ campaign is pushing ahead, both in the polls and also in the wider sphere, ahead of the EU referendum next month. The proportion of those who still say that they don’t know how they are going to vote remains too large for the market to think that the result is a done deal, so there is certainly some scope for further volatility ahead. We could also be looking very closely at the weather to determine the impact on turnout nearer the time. For now, cable sees the next resistance level at 1.4770, the 3rd May high. The second reading of UK Q1 GDP is seen at 08:30 GMT, where there are some residual risks for a downward revision from the initial 0.4% QoQ reading.

The remainder of the week is focused on the G7 leaders meeting taking place in Japan. The impression given at the meeting of finance ministers and central bank governors over the last weekend was that it was Japan and the yen who were likely to be more the point of tension, more so that the usual whipping boy of China. The yen has been cautious in the run-up to the meeting, but if there is nothing of substance on exchange rates, then there is scope to rally as one of the near-term risk road-blocks is removed.


Source link  
Cautious mood has returned to stocks

American markets ended trading on Wednesday with a slight increase. Asian bourses also experienced growth at the opening, but it was quickly...

Emerging markets rebound seems over

Asian markets have turned to a decline with a renewed force. After the rebound of last week, the index MSCI Asia ex Japan loses 1.2% and is only...

Rebound in Asian markets intensifies

On Friday morning, the demand for risks on the Asian bourses continues to recover. MSCI for Asia ex Japan is adding more than 1.2% this morning, having...


Reasons to rebound EM indices

Asian markets are adding after reaching 14-month lows the day before. Positive markets are supported by the reports about China's invitation to trade...

Strong data supports U.S. markets

Stocks of the Emerging Markets remain under pressure on Wednesday morning, with positive sentiments prevailing in American markets following...

Pound press dollar on news about Brexit

Michael Barnier, the EU's top negotiator on Brexit, called a reaching of the agreement on the deal within next 6-8 weeks realistic. This news supported...


Brent reversed from resistance level

Brent Crude Oil recently reversed down sharply from the major, multi-month resistance level 79.50 (which has reversed the price multiple times from the...

EM Markets sale-off spreading to DM

The current weakness on the developing countries financial markets is the longest since 2008. The similarities go further than that: as well as 10 years ago...

The price for trade uncertainty

The markets are cautiously on buy for American stocks, and the dollar adds on fears that trade conflicts are seriously stifling the business sentiment...


In the past 24 hours Bitcoin has lost -0.46% and reached $6401.15292825. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.0963% and is now at $1.1682. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 0.82% and is now at $209.590583915. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM88%
3HYCMHYCM87%
4Alfa-ForexAlfa-Forex86%
5FxProFxPro85%
6FIBO GroupFIBO Group84%
7OctaFXOctaFX83%
8HotForexHotForex82%
9FXCMFXCM79%
10AvaTradeAvaTrade77%
  


Share: