Subscribe to RSS

Euro, Yen Eye Risk Trends as Pound Looks to BOE Comments for Direction

The Euro and the Japanese Yen eye sentiment trends for direction cues while the British Pound is looking to BOE comments to inform rate hike speculation.

Talking Points:

  • Euro, Japanese Yen Look to Risk Sentiment Trends for New Direction Cues
  • British Pound at Risk if Comments from BOE’s Shafik Trim Rate Hike Bets
  • See Economic Releases Directly on Your Charts with the DailyFX News App

Financial markets settled into digestion mode overnight as a quiet economic data docket left traders without an immediate catalyst to fuel continued volatility. The US Dollar corrected cautiously lower having broadly outperformed in the prior session. The move higher followed hawkish comments from Atlanta Fed President Dennis Lockhart, who stressed that the US central bank remains on track to begin raising interest rates this year.

The absence of high-profile event risk may put sentiment trends at the forefront in the hours ahead. S&P 500 futures are ticking lower, hinting at a risk-averse bias. Follow-through along this trajectory may prove supportive for the Euro and the Japanese Yen while weighing on the likes of the Australian, Canadian and New Zealand Dollars.A similar setup was undermined by Mr Lockhart’s comments yesterday and he is in fact due to speak again today, but the markets have probably priced in his posture already and seem unlikely to significantly react further.

Bank of England Deputy Governor Nemat Shafik is also due to speak, with traders monitoring the remarks for clues informing rate hike timing speculation. The markets’ priced-in outlook has markedly deteriorated over the past two months, with investors seemingly doubting the likelihood of tightening at least before the fourth quarter of 2016.

The British Pound may edge lower as expectations deteriorate further if Ms Shafik’s comments echo those of fellow MPC member Jon Cunliffe, who struck a dovish tone yesterday. Cunliffe said he doesn’t see signs of building price pressures and warned that the external environment has weakened, calling for “limited and gradual” rate hikes when tightening does commence.

Critical Levels
CCY Supp 3 Supp 2 Supp 1 Pivot Point Res 1 Res 2 Res 3
EURUSD 1.0936 1.1085 1.1137 1.1234 1.1286 1.1383 1.1532
GBPUSD 1.5345 1.5432 1.5470 1.5519 1.5557 1.5606 1.5693

 

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

444% Profit Receive for a Single Trade – Grand Capital

444% Profit Receive for a Single Trade – Grand Capital(0)

Up to 444% Profit receive with our new Express Options for Grand Capital Binary Option Broker Ltd. Make a correct prediction for 3 assets at the same time Link: Up to 444% Profit Receive for a single trade Link:  $500 Forex No Deposit Welcome Bonus Link:  40% Forex Welcome Deposit Bonus Available to: All new

Receive $30 Credit Bonus for Trusted  Broker- FXTM

Receive $30 Credit Bonus for Trusted Broker- FXTM(0)

Switch to ForexTime and receive $30 Trading Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and receive $30 Trading Credit Bonus as a thank you for switching. Link:  Up to $200 Cash Bonus this December Link:  Receive $30 Tradeable Credit Bonus Link:  FX

15% Support Margin Bonus and $50 Free Bonus – FortFS

15% Support Margin Bonus and $50 Free Bonus – FortFS(0)

15% Support Margin Bonus Plus $50 No Deposit Bonus to all New and Existing Traders. For Every Traders who passed the verification process in their traders room can get the $50 Free Bonus Link:  $50 Forex No Deposit Welcome Bonus Link: Up to 50% Bonus of Every Deposit Link: 15% Support Margin Bonus As from

Get $34 Forex No Deposit Bonus Contest – Xtream Forex

Get $34 Forex No Deposit Bonus Contest – Xtream Forex(0)

Sign-Up and Get $34 Forex No Deposit Bonus Contest Enjoy Forex Trading Without Deposit. Grab your $34 Forex No Deposit Bonus and start your live Forex trading to win big cash prize. Link: $34 Forex No Deposit Bonus Contest Available to: All new clients Forex $50 No Deposit Bonus Contest Duration? Registration is open till

115% Classic Bonus and $30 Welcome Bonus – RoboForex

115% Classic Bonus and $30 Welcome Bonus – RoboForex(0)

Up to 115% Classic Bonus Promotion and 50% Tradable Deposit Bonus to All RoboForex New and existing clients. 50% Tradable bonus from RoboForex is the type of bonus, which is not cancelled when the equity on your account is below the amount of the bonus funds Link:  $30 Welcome Bonus Promotion Link:  50% Tradable Bonus

Receive 25% Free Credit Bonus on your First Deposit – HYCM

Receive 25% Free Credit Bonus on your First Deposit – HYCM(0)

Get your forex trading off to a flying start. Sign up today and receive 25% Free Credit Bonus on your first deposit. The maximum trading credit bonus awarded under this promotion is US$5,000 Link: 25% Free Credit Bonus on your First Deposit Available to: All new clients Bonus Offer: Sign up today and receive 25%

60% Withdrawal Holiday Deposit Bonus – FXCL Markets

60% Withdrawal Holiday Deposit Bonus – FXCL Markets(0)

60% Withdrawal Holiday Deposit Bonus to All new and existing clients. The 60% Withdrawal Holiday  Deposit Bonus limit is $2,000 per trader. Link: 60% Holiday Withdrawal Bonus Available to: All new and existing clients Bonus Offer: 60% Withdrawal Holiday Deposit Bonus to All new and existing clients The bonus limit is $2,000 per trader. The

Up to 250% Exclusive Trading Credit Bonus – InstaForex

Up to 250% Exclusive Trading Credit Bonus – InstaForex(0)

InstaForex Exclusive Bonus Promotions is unparalleled on the market and gives a matchless opportunity to receive a Exclusive Bonus Promotions in the range of 30% to 250%. Making use of any kind of bonus, you can bump up your live trading account balance after depositing. Link:  Get 250% Bonus for First Deposit Link:  $500 Forex

New Promo-Action Free No Deposit Bonus $50 – FortFS

New Promo-Action Free No Deposit Bonus $50 – FortFS(0)

New Promo-Action Free No Deposit Bonus 50 USD to all New and Existing Traders. For Every Traders who passed the verification process in their traders room can get the $50 Free No Deposit Bonus Promotion Link:  $50 Forex No Deposit Welcome Bonus Link:  500 USD cents Forex No Deposit Bonus Link:  Up to 50% Bonus

Get 500 Cent Forex No Deposit Welcome Bonus – FortFs

Get 500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2018-2019 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories