GBP/USD PRICE, CHART, AND ANALYSIS:
UK retail sales data a positive for the British Pound.
EU-UK talks seem to be progressing.
US dollar strength holding back GBP/USD.
Keep up to date with all market-moving data releases and events by using the DailyFX Calendar
The latest UK retail sales data for October beat market expectations, boosted primarily by higher sales in non-food stores, according to the Office for National Statistics (ONS). Non
JAPANESE YEN, USD/JPY, US DOLLAR, US TREASURIES, HANG SENG, FED - TALKING POINTS:
The Japanese Yen is caught between bullish momentum and resistance levels.
APAC equity indices mostly moved slightly higher except for the Hang Seng Index.
The US Dollar has gyrated to Treasury yield swings, will that drive USD/JPY?
The Japanese Yen had little reaction to national CPI data released today. Headline CPI was a slight miss at 0.1% year on year against
Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 22nd November 2021. These are projected dividends and likely to change. IG cannot be held responsible for any changes made.
Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted
AUSTRALIAN DOLLAR, AUD/USD, AUD/CAD, EUR/AUD – TECHNICAL OUTLOOK
Australian Dollar facing mixed signals vs. USD, CAD and EUR
AUD/USD may reverse higher on support, AUD/CAD ranging
EUR/AUD downtrend remains despite recent consolidation
AUD/USD 4-HOUR CHART
The Australian Dollar faces its next potential opportunity to reverse the near-term downtrend against the US Dollar since the beginning of this month. AUD/USD is facing a combination o
The Tesco share price has soared 27% since March. As the UK's grocery market leader, it's benefitting from strong interim results, takeover rumours, and a rebounding economy. Could a Christmas boom see it rise higher?
Source: Bloomberg
Shares Tesco Price United Kingdom Tax Lidl
CRUDE OIL PRICE, CHART, AND ANALYSIS:
US President looking for coordinated action on oil stockpiles.
Crude oil will remain capped as discussions continue.
The President of the United States, Joe Biden, is having ongoing talks with China, India, and Japan about a coordinated release of oil stockpiles to help push back against the high cost of oil that is dampening global growth prospects and fueling inflation. The US has already indicated that it is willing to rele
GBP PRICE, NEWS AND ANALYSIS:
GBP has been outperforming even a firm US Dollar over the past few sessions, with EUR/GBP falling steeply.
That’s despite a row over second jobs for members of the UK Parliament and sleaze allegations centering on the ruling Conservative Party that could weaken the Pound longer term.
GBP AT RISK FROM POLITICAL CONCERNS
Domestic politics tend to have only a long-term influence on currency rates and not to affect near-term trends
CANADIAN DOLLAR, US YIELDS, CRUDE OIL, NZD/USD, AUD/USD - TALKING POINTS:
The Canadian Dollar got hit by bond traders’ expectations being disappointed.
APAC equities were listless, undermined after a risk-off sentiment lead from the US.
Crude oil fell, gold held and commodity currencies softened. Where to for USD/CAD?
The Canadian Dollar dropped after CPI hit expectations. This disappointed domestic bond bears and rates there went lower to aid CAD depreciat
The Royal Dutch Shell share price has soared this year as the price of oil hits a multi-year high. Could its proposed move to London and accelerated green transition see it rise back to pre-pandemic heights?
Source: Bloomberg
Commodities Price of oil Petroleum Price Share repurchase Un
EUR/USD RATE TALKING POINTS:
EUR/USD is on track to mark a six day decline as it trades to a fresh yearly low (1.1263), and recent developments in the Relative Strength Index (RSI) raises the scope for a further depreciation in the exchange rate as the indicator crosses below 30 to push into oversold territory.
EUR/USD RATE SELLOFF PUSHES RSI INTO OVERSOLD TERRITORY
EUR/USD approaches the July 2020 low (1.1185) following the bearish reaction to
US Dollar Price, Chart, and Analysis
US dollar basket spikes above 96.00.
Multiple Fed speakers on the docket.
The yield on the benchmark US 10-year US Treasury is currently testing a fresh one-month high around 1.65% with traders eyeing the mid-March 1.73% yield level as the next target. While the latest move higher in yields may need to be consolidated to move DXY out of heavily overbought territory – see below – the medium-term outlook for the dollar remains posi
US DOLLAR, TREASURY YIELDS, FED, BULLARD, AUD/USD, CBA, USD/JPY - TALKING POINTS:
The US Dollar continues to break new ground as momentum gathers.
Encouraging economic data and hawkish comments boost yields and USD.
Commodities and currencies weaken against the Dollar. Will USD keep going?
The US Dollar made a new high for the year on the back of solid data and more hawkish Fed commentary.
US retail sales advanced 1.7% for the month of October, beating
GBP/USD ANALYSIS
UK Inflation: 4.2%, Est. 3.9%.
December rate hike highly likely.
GBP/USD upside reversal may continue on strong fundamental data.
UK INFLATION BEATS ESTIMATES BOLSTERING DECEMBER RATE HIKE POSSIBILTY
Sterling popped against the U.S. Dollar after the UK inflation print beat estimates (see calendar below). This may well be the final nail in the coffin to confirm settle the rate hike debate and allow for Bank of England (BoE) governor
The Vodafone share price has risen 6% today, as rising revenue has resulted in increased optimism for the growth of its European and African businesses. Will the telecoms giant see a revival in its fortunes?
Source: Bloomberg
Shares Vodafone Price Investor CFD TPG Telecom
AUDUSD, AUDNZD Price Analysis and News:
Australian Wage Data Key for RBA Monetary Policy Considerations.
AUD/NZD Elevated Relative to Bond Spreads.
AUSTRALIAN WAGE DATA KEY FOR RBA MONETARY POLICY CONSIDERATIONS
A plethora of RBA commentary overnight amid the release of the November meeting minutes as well as Governor Lowe’s speech. Within the RBA’s minutes, members noted that the risks to the inflation forecast had changed, as the distr
GBP PRICE, UK EMPLOYMENT NEWS AND ANALYSIS:
The latest UK jobs report was stronger than economists had predicted, with employment above expectations, the unemployment rate down and average earnings higher than forecast.
That has made an interest rate increase by the Bank of England next month almost certain, although the markets are unsure how large it will be.
In turn, that has helped GBP/USD recover a very small part of its recent losses, although the trend in the pair is s
GOLD, XAU/USD, US RETAIL SALES, TREASURY YIELDS – TALKING POINTS
Gold prices look higher after big gain on inflation worries
US retail sales may provide the key for XAU’s direction
XAU/USD eyes psychological 1900 level as prices gain
Gold’s recent upside appears to be stalling out after prices cleared a key level of resistance during last week’s big +2.64% gain. XAU is currently trading near the highest levels since early June despite rising Tre
The Bank of England is forecasting a base interest rate rise in the ‘coming months.' But the US Federal Reserve is insisting that rising inflation is 'transitory.' Could a policy divergence see sterling soar?
Source: Bloomberg
Forex Inflation Pound sterling Interest rate Federal Reserve Monetary Policy Committee (United Kingdom)
Q3 earnings season propelled the S&P 500 to fresh record highs; although company’s flag concerns about the impact of higher costs on future profits.
Source: Bloomberg
Indices Shares S&P 500 Inflation Revenue COVID-19 recession
US inflation pressure looks likely to maintain the push on the Fed to tighten, with the dollar index reaching a 16-month high.
Source: Bloomberg
Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 15 November 2021
EUR/GBP Price, Chart, and Analysis:
UK interest rate hike in December looking likely.
UK inflation is set to rise further.
EU covid rates turn higher.
EUR/GBP traders will need to be alert over the next few days and weeks with a combination of hard data, BoE rate hike expectations, and rising covid cases in Europe will give further clues to the direction of the pair in the short term. In addition, ongoing talks between the EU and UK over the Northern Ireland protoco
CRUDE OIL PRICES, INFLATION, IRAN-US RELATIONS, IRAN NUCLEAR DEAL - TALKING POINTS:
Crude oil are prices at risk ahead of key geopolitical development at the end of the month.
US-Iran talks on 2015 nuclear deal could yield progress, apply downward pressure on oil.
What are obstacles to reconciliation and other macro-fundamental factors swaying crude?
ALCHEMY OR AFFECTATION? IRAN NUCLEAR TALKS
Crude oil prices are vulnerable to geopolitically-induced volat