Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
On Thursday March 21st, at 12:00pm U.K. time, the U.K. central bank the Bank of England, will announce its latest decision concerning the U.K. economy’s base rate. Currently at 0.75% the widely held consensus is that the Governor of the Bank of England, Mark Carney, will announce that the rate will remain unchanged at 0.75%, […]
GBP pairs fell sharply during the early stages of the London-European trading session, as leading E.U. negotiator Michel Barnier instructed the U.K. that the European Council would not be making a decision on the U.K. request for a three month extension, to the Brexit date of March 29th, this week. Instead, the summit would delay
The Brexit debacle took another twist on Tuesday, as Michel Barnier, the leading E.U. negotiator, insisted that the U.K. government’s expectation; to have the exit extended beyond the March 29th legal date agreed by Parliament, is highly presumptive. Mr. Barnier echoed the statements made recently by various other leaders and representatives of the E.U. 27;
At 18:00pm U.K. time, on Wednesday March 20th, the Federal Open Market Committee (FOMC) will announce its latest decision with regards to the key interest rate for the USA economy. Currently at 2.5%, the widely held consensus, after news agencies such as Reuters and Bloomberg have polled their panel of analysts, is for no change.
The U.K. pound recovered a proportion of its lost gains, during the Sydney-Asian session on Tuesday morning, a recovery which continued into the early hours of the London-European trading session. The sell off, which sterling suffered during Monday’s sessions, was caused as a consequence of the speaker of the House of Commons, denying the U.K.
The U.K. pound began to fall versus its peers, during Monday’s early trading sessions, as FX market participants began to wake up to the fact that the U.K. is now only nine working days away from needing to find an exit solution, or crash out. However, markets were taken by surprise, as the leader of
Japan printed disappointing export and import data during the overnight Sydney-Asian trading session, which caused yen to sell off marginally, versus several of its major peers. Exports fell by -1.20% year on year in February, with imports falling by -6.70% year on year. Both readings could be an indication that one of the engines of
The U.K. pound will be under increased focus and intense pressure during the week beginning March 17th. U.K. MPs’ concentration and attention will become heightened, as the March 29th Brexit date approaches. The U.K. government and Parliament only has two working weeks to prevent a non chaotic exit. FX traders will know more, with regards
Japan’s central bank, the BOJ, has kept its interest rate in negative territory (NIRP) at -0.1%. During Governor Kuroda’s press conference, after the announcement was broadcast, the BOJ downgraded its assessment of: exports, factory output and its trading partners’ economies. The negative assessment of the domestic economy was widely expected, as a consequence of a
The chaos and confusion currently on display inside the U.K. House of Commons, was replicated in the market for the U.K. pound versus its peers, during Thursday’s trading sessions. All sterling base pairs traded in tight ranges versus their counter currencies, as analysts and FX traders struggled with the complexity of the voting patterns and
