Forex Today: Fresh Brexit hope lifts GBP/USD, mixed opinions about the US-Sino deal, Fed-speak eyed


Here is what you need to know on Tuesday, October 15:

  • Brexit: The Telegraph reports that a deal is taking shape and a mood of "cautious optimism" among negotiators." The news keeps the pound bid. On the other hand, the EU is skeptical about the chances of reaching a deal by Thursday's EU Summit.  An emergency summit toward the end of the month is also on the cards. UK Prime Minister Boris Johnson has reiterated that the UK will leave on October 31, which is only 16 days away. 
  • The UK jobs report is expected to show a minor deceleration in wage growth today (preview) Bank of England Governor Mark Carney will testify before the Financial Stability Committee and no market-moving headlines are expected. 
  • US-Sino trade talks: US Treasury Secretary Steven Mnuchin said that more meetings are scheduled at the deputy level and high-level meetings may be scheduled as well, to proceed in writing Phase One agreement. The media in China has refrained from labeling the handshake accord as a deal. Chinese inflation data has shown increases in consumer prices but falls in producer prices.
  • President Donald Trump has said that he will slap sanctions on Turkey following its incursion into Northern Syria. The measures, including tariffs on steel and restrictions on Turkish officials, leave Congress wanting more. USD/TRY remains below 6. 
  • The Reserve Bank of Australia's meeting minutes have shown that the bank is open to cutting interest rates once again, but AUD/USD remained in a range.
  • The German ZEW Economic Sentiment and several Fed officials are scheduled to speak today, adding to volatility as American and Canadian traders return from their holidays.
  • Cryptocurrencies are marginally off the highs.
     

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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD chops around amid end-of-month flows, ahead of Trump

EUR/USD is battling 1.11, close to the two-month highs amid choppy trading. Hopes for a fiscal boost in Europe and mixed satisfactory data have supported the currency pair. , Sino-American tensions are rising and investors await President Trump's China announcement.

EUR/USD News

GBP/USD advances amid US dollar weakness, shrugging off concerns

GBP/USD is trading above 1.23, edging higher amid US dollar weakness and Britain's gradual reopening. Intensifying Sino-American tensions and the Brexit impasse are ignored. 

GBP/USD News

Cryptocurrencies: $348M in matured derivatives boost the market

Futures and options contracts' expiration brings a wave of volatility to the crypto market. Ethereum takes advantage and attacks resistances in the market dominance chart, Bitcoin goes back. Ripple disappoints despite regaining the third place in market capitalization.

Read more

Canada's economy falls by 8.2% annualized in Q1, better than expected, USD/CAD shakes

The Canadian economy squeezed by an annualized rate of 8.2% in the first quarter of 2020, better than -10% expected. Quarterly, Gross Domestic Product (GDP) squeezed by 2.1%. Most of the downfall occurred in March, with a drop of 7.2%, better than 8.5% projected. 

Read more

WTI drops 4% and eyes $32 mark amid risk-off, weakening demand

The selling pressure around WTI (July futures on Nymex) accelerates following the break below the 33 level, as bears now target the 32 support zone heading into the key US macro data and US President Donald Trump’s response to the Hong Kong issue.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures