The Brexit uncertainty continues as the DUP (Democratic Unionist Party of Northern Ireland) reject Boris Johnson’s border solution/customs solution proposal.

This certainly throws uncertainty into the Brexit machine and halts talks for now, however the DUP are out on the newswires suggesting that they are still talking to the government.

Meanwhile, GBPJPY moves back under 139.00, now trading around 138.70 with a dovish tilt.

GBP/USD on the other hand may be a bigger mover, but until a new headline rolls through the bias is for GBP to slide lower against all FX.



FX Majors & Gold

Can we look to other key markets with this Brexit uncertainty swirling?

Gold had lifted slightly, but not significantly – now off 1488 and trading around 1491.

Nothing to see there.

Same story across the USDJPY charts as the sticky 108.80 levels persists, however in market movers the AUDUSD jumped up 30-pips earlier today as the Aussie unemployment improved, seeing 5.3% tick back to 5.2% and keeping buyers active.

FX Majors are far too quiet, still reeling from the overbearing risks of Brexit headlines and risk sentiment which is attached.

USDCAD is often a great risk-yardstick for FX majors, so seeing quiet price action around 1.3200reflects the cautious market tones.

I am a BUYER of USDCAD for 2 clean reasons:

  1. Risk off tilt now that Brexit seems unclear.

  2. The USD buyers can likely swoop if the Philly Fed Manufacturing index rebounds in any way.




Target: 1.3250 (+45 Pips)

Stop: 1.3165 (-40 Pips)

RISK WARNING: Foreign exchange and derivatives trading carry a high level of risk. Before you decide to trade foreign exchange, we encourage you to consider your investment objectives, your risk tolerance and trading experience. It is possible to lose more than your initial investment, so do not invest money you cannot afford to lose。 ACY Securities Pty Ltd (ABN: 80 150 565 781 AFSL: 403863) provides general advice that does not consider your objectives, financial situation or needs. The content of this website must not be construed as personal advice; please seek advice from an independent financial or tax advisor if you have any questions. The FSG and PDS are available upon request or registration. If there is any advice on this site, it is general advice only. ACY Securities Pty Ltd (“ACY AU”) is authorised and regulated by the Australian Securities and Investments Commission (ASIC AFSL:403863). Registered address: Level 18, 799 Pacific Hwy, Chatswood NSW 2067. AFSL is authorised us to provide our services to Australian Residents or Businesses.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD hovering above 1.1050 amid trade concerns, ahead of ECB minutes

EUR/USD is trading above 1.1050, at familiar levels. Doubts that a US-Sino trade deal may be reached are weighing on markets. The Fed's minutes have reaffirmed the wait-and-see mode, and the ECB's minutes are awaited. 


GBP/USD advances above 1.29 as Conservatives remain in the lead

GBP/USD is rising above 1.29 as fresh opinion polls continue showing a solid lead for Prime Minister Boris Johnson's Conservatives. Further political headlines are awaited.


USD/JPY bounces-off 50-DMA but lacks follow-through

USD/JPY has bounced up from the 50-day MA support of 108.28. China's Vice Premier Liu He is cautiously optimistic about the prospects of the US-China trade deal. Related markets, however, are not buying Liu He's optimism, keeping the recovery in check. 


US Dollar Index recedes from tops, back below 98.00

The greenback, when tracked by the US Dollar Index (DXY), is struggling for direction in the proximity of 97.90 on Thursday. FOMC minutes stressed the Fed’s ‘wait-and-see’ stance. Philly Fed index, Claims, Fedspeak next on the docket.

US Dollar Index News

Gold flirting with session lows, around $1470 region

Gold edged lower through the Asian session on Thursday and is currently placed near the lower end of its daily trading range, around the $1470 region.

Gold News

Forex Majors