Nov 7th, 2017: Pound Steadies as Euro falters
November 7, 2017 8:15 amVideo
Latest News
- EUR/USD. June 3rd. Bulls are not retreating and await support from the US June 3, 2024
- GBP/USD. June 3rd. Bears remain weak, while the pound rises alongside the euro June 3, 2024
- Weekly Technical Outlook – USDJPY, EURUSD, USDCAD June 3, 2024
- Technical Analysis – USDJPY battles with 50-SMA June 3, 2024
- Bank of Canada edges closer to rate cut but will it be in June? – Preview June 3, 2024
- EUR/USD and GBP/USD: Technical analysis on June 3 June 3, 2024
- Market Comment – Steady start as markets digest data ahead of rate decisions and NFP June 3, 2024
- ECB to make the first move – Preview June 3, 2024
- USD/JPY: trading tips for beginners for European session on June 3 June 3, 2024
- GBP/USD: trading tips for beginners for European session on June 3 June 3, 2024
- EUR/USD: trading tips for beginners for European session on June 3 June 3, 2024
- Technical Analysis – EURCHF declines sharply from 14-month high June 3, 2024
- Technical Analysis – Gold on a slippery slope June 3, 2024
- Trading plan for GBP/USD on June 3. Simple tips for beginners June 3, 2024
- Trading plan for EUR/USD on June 3. Simple tips for beginners June 3, 2024
- Technical Analysis – EURUSD neutral in short-term but still bullish in medium-term June 3, 2024
- Wall Street Warning Signs: Dow Transportation Stocks, Treasuries Fall June 3, 2024
- Forecast for EUR/USD on June 3, 2024 June 3, 2024
- Forecast for GBP/USD on June 3, 2024 June 3, 2024
- Forecast for AUD/USD on June 3, 2024 June 3, 2024
Morning Report: 07.00 London
This morning, the pound is performing well relative to the euro. The GBP/USD has now erased more than half of last week’s losses, with the EUR/GBP rebounding and reversing three quarters of last week’s gains. Yesterday, the saw some soft economic data, while inflation concerns have boosted the pound.
The yen pairs have a positive bias, especially the GBP/JPY which continues to make gains. The USD/JPY is rising to challenge the October highs.
The Australian dollar is unchanged this morning after the RBA opted to keep rates on hold.
The USD/CAD continues to reverse as oil prices stabilise over $60 following the Saudi Arabian political shakedown.
Coming up today
Coming up today, we have UK Halifax HPI at 08.30.
At 09.00, ECB President Draghi speaks.
FOMC member Quarles speaks at 17.35.
BOC governor Poloz speaks at 17.55.
Fed Chair Yellen speaks at 19.30.
Trade Idea
The recent euro weakness and dollar strength has the EUR/USD set to regain its down trend and challenging more of the July rally.
A good way to play this is a LOWER trade predicting that the EUR/USD will close below 1.1550 in 14 days for a potential return of 171%.
Related Posts: