FX Brief: Relief for pound
|
-
At the start of the US session, the EUR is the weakest, while the AUD is strongest. The EUR/USD, which is in the process of creating a potential head and shoulders pattern, faces a big couple of weeks with the release of Eurozone PMIs and ECB rate decision next week and the Fed on the last day of the month.
-
GBP has found some much-needed support on the back of retail sales beat (+1.0% m/m vs. -0.3% expected) and after the House of Lords backed an amendment designed to block the next Prime Minister from pushing through a no-deal Brexit by suspending parliament. This comes after Brexit Secretary Steve Barclay said the chances of a no-deal Brexit are under-priced, while Tory front-runner Boris Johnson warned that a free trade deal with UK’s closest ally – the US – will take time.
-
Stocks will be in focus amid earnings results after disappointment from NFLX sent major indices lower Thursday; Bitcoin and crude oil are heading lower again, while silver is shining brightly.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.