|Day's Range||1.272 - 1.273|
|52 Week Range||1.2663 - 1.4377|
After the sell-off in U.S. stocks, European markets dipped to a two week low this morning. Yahoo Finance’s Alexis Christoforous and Lianna Brinded discuss.
Investing.com - This week investors will look to data on consumer prices and retail sales for the latest update on the health of the U.S. economy.
LONDON MARKETS The London stock market bounced back following Thursday’s Wall Street recovery, but still suffered its biggest weekly loss since October. And all three U.S. benchmarks slumped Friday on worries over trade policy, posting their biggest weekly percentage declines since March.
The British pound continues to hover above the vital 1.27 level, as the British Parliament continues to discuss the potential deal that Teresa May has struck with the European Union. If there is “no deal”, that will be extraordinarily negative. Otherwise, if there is some type of agreement, we could see buyers.
The British pound continues to be very soft overall, selling off every time they tried to rally it. The 1.27 level underneath continues to be major in its importance, and if it gives way we could see a significant move.
Investing.com - The U.S. dollar was lower on Friday as the latest jobs report lowered the chances that the Federal Reserve will raise rates in 2019.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.08% to 96.68 as of 10:14 AM ET (15:14 GMT).Nonfarm payrolls rose by 155,000 in November, which was lower than expected but still consistent with a strengthening job market. The data puts less pressure on the Fed to raise rates. ...
The pair failed to rally higher during the Thursday’s session as the 1.1350 level is attracting a lot of attention and also providing support to the market. The market today will remain choppy because of the job figures ahead and if the numbers come out positive, then it could break the market lower towards the 1.13 level and much lower. …Read MoreGBP/USD
Sterling caught within familiar levels this week as Brexit draft approval moves towards Tuesday’s parliamentary vote.
Can U.S NFP and wage growth numbers come to the market’s rescue? Some will be hoping for soft numbers to dial back expectations of a December hike.
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Investing.com - The U.S. dollar was lower on Thursday as the arrest of a Huawei executive spooked investors and disappointing jobs data dampened sentiment.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.46% to 96.56 as of 10:35 AM ET (15:35 GMT).Meng Wanzhou, the chief financial officer at the Chinese smartphone company Huawei was arrested in Canada on an an extradition request by the U.S, which had been investigating whether or not she violated sanctions against Iran. ...
The British pound rallied to start the day on Thursday, but quite frankly we’ve seen this movie before, it rallies and that sells off again. As Parliament debates the merits of the Brexit deal, there will continue to be headlines that throw this market around.
Investing.com - The safe haven yen was higher against the U.S. dollar on Thursday as the arrest of a leading Chinese executive in Canada threatened to escalate tensions between the U.S. and China, prompting investors to move out of riskier assets.
The pair hovered around the 1.1350 level mostly during the Wednesday’s session as the 1.14 level above continues to be massively resistive. The market is struck between the 1.13 and 1.15 range for quite some time now and rallies are proving to be a selling opportunity in the market. The market will continue to trade between this range until it breaks above the resistive 1.15 level with bullish momentum. …Read MoreGBP/USD
Investing.com - The U.S. dollar was little changed on Thursday while the Chinese yuan fell after the arrest of the CFO of tech giant Huawei Technologies.
GBP/USD trades range bound as investors are cautious ahead of DEC 11 Brexit vote owing to high level of uncertainty about the future of deal and PM May’s Brexit Government.
It’s a choppy start to the day and unlikely to get better, with a heavy set of stats out of the U.S, Brexit and Trade Chatter to drive the majors.
Major currencies retrace some of Tuesday’s action in early Wednesday trading, as investors digest President Donald Trump’s latest comments on China trade. Meanwhile, the Canadian dollar drops to a six-month low versus its U.S. rival, following the Bank of Canada policy update.
The British pound continues to go back and forth during the trading session on Wednesday, as Parliament continues to debate the potential deal with the European Union. I think that we will simply move upon headlines crossing the wires, perhaps also Twitter.
Investing.com - The pound pushed higher on Wednesday, extending the day’s gains as mounting opposition to British Prime Minister Theresa May’s Brexit deal prompted some investors to start pricing in chances of averting Brexit altogether.
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Key decliners included banks, insurers, oil producers and miners, with the index as a whole dropping back beneath the bellwether 7,000 level