Currency

REWARD VERSUS MEANING Trading success does not follow a linear trajectory, success ebbs and flows with good times and bad times. If you trade for long enough you there eventually will come a time when you question the decision you have made to become a trader. It all seemed so easy initially and there was […]

Yesterday, political news dominated the scene. In the UK, Brexit secretary David Davies and Chancellor Hammond suggested that Britain may continue to make payments to the European Union budget even after Brexit in exchange for access to the single market. The comments caused the pound to strengthen against the dollar as this is the first […]

It’s US non-farm payrolls day, which always is a big event for the US dollar and even more important this time as it is the latest release before the FED meeting. The Federal Reserve is widely expected to raise interest rates in December as recent economic data have mostly been strong and supporting the case […]

Mark Carney, Bank of England Governor, has issued a warning to all UK households that the annual debt may be spinning out of control. Credit cards and other forms of unsecured debt are at their highest level for a number of years, as consumers carried on using false money for purchases. After releasing Stress Test […]

With regards to the latest Brexit scenario, pro-EU campaigners have, unsurprisingly, declined the backing of a new legal challenge regarding the Brexit outcome. Migration reform and continued access to the single market are key issues that continue to arise throughout the debate, and there are rumours that both could be kept by triggering Article 50, […]

The US dollar ended the week mixed in thin holiday-trading conditions, as traders await key economic data due this week. In terms of data, Friday saw the US Trade Deficit fall to -$62.0b in October, worse than expectation of -$59.2b, while the UK GDP in Q3 was left untouched at 0.5% qq. The main interest […]

The GBP/USD moved sideways throughout last week, resulting in a neutral bias in the near-term. The neutral bias has been going on for about two weeks, while the dominant bias on higher timeframes is bearish. A break out of the sideways movement is expected this week or next, and would most probably favor bears. EUR/USD: […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish Last week, this pair moved largely sideways in the context of a downtrend. A break out of the sideways movement should happen before the end of this week (or next week), which would most probably favor bears. Although this pair is expected to continue […]

Philip Hammond’s Autumn statement yesterday was busy, as he set his sights on curbing Brexit’s potential economic affect. He hopes to use £23bn from the National Productivity Investment Fund on new homes, transport connections, research & development, and invest in the digital sector, hoping to keep the economy booming with the expected downturn in outlook […]

Tonight, we have the FOMC minutes from the last meeting. Currently, the market is over 90% confident that the FOMC will hike interest rates in December and this has been priced in. Therefore, attention for the minutes will be on the 2017 outlook and the scope for future interest rate increases. Any Fed projections will […]