Forex Signals US Session Brief, Oct 29 – GBP Jumps on December Elections in the UK

Posted on October 29, 2019October 29, 2019 by Skerdian Meta

The sentiment has been driving markets up and down this year. The sentiment in itself has been defined by the US-China trade war, as well as by Brexit events and that’s the case today as well. Yesterday we heard UK Prime Minister Boris Johnson comment on new elections after the Brexit extension from the EU, but the opposition Labour Party wasn’t too keen on it. But, they accepted the offer today and said that they will launch “the most ambitious and radical campaign for real change our country has ever seen”.

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Forex Signals US Session Brief, Oct 28 – The GBP is Not Impressed by the 3-Month Brexit Extension

Posted on October 28, 2019October 28, 2019 by Skerdian Meta

The forex market turned quiet last week, after seeing some elevated volatility in the previous weeks. The partial trade deal between US and China, as well as the Brexit deal, improved the sentiment in the previous weeks, sending risk assets higher and safe havens lower. But, the Brexit deal didn’t quite pass the British parliament and the uncertainty increased again in financial markets. Traders were not sure how the situation would evolve, so they decided to remain on the sidelines until things became clearer.

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Forex Signals US Session Brief, Oct 25 – Slow Price Action as Uncertainty Prevails Again

Posted on October 25, 2019October 25, 2019 by Skerdian Meta

This year, the sentiment in financial markets has been mostly negative, which can be observed by the surge in Gold and the decline in Crude Oil prices, due to an escalating trade war and a weakening global economy. But, this month the situation improved considerably as US and China reached a partial trade deal and Boris Johnson stuck a Brexit deal with the EU. Although, the political situation in the UK doesn’t seem to be stable now and the uncertainty is prevailing in financial markets again.

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Forex Signals US Session Brief, Oct 24 – Hopes For An Economic Rebound Were Shot Dead At Sight Today

Posted on October 24, 2019 by Skerdian Meta

Today the economic calendar was loaded, with many events on it. It started with the services and manufacturing reports coming out of Europe this morning. In France, services and manufacturing PMI moved higher for this month, showing that manufacturing in particular moved away from stagnation. But, German services PMI remained quite soft and manufacturing remained deep in recession. The Eurozone manufacturing also remained deep in recession, so hopes for an economic rebound in the Eurozone faded pretty quickly. The price action in the Euro this morning shows just that, as the Euro jumped higher initially, but reversed back down pretty quickly.

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Forex Signals US Session Brief, Oct 23 – Markets on Standby Again After the Brexit Extension Request

Posted on October 23, 2019October 23, 2019 by Skerdian Meta

Markets turned quite exciting in the last two weeks, as the US and China agreed for the Phase One of the trade deal, while Boris Johnson and the EU reached a Brexit deal. Risk assets turned quite bullish while the GBP surged higher and on Friday last week, buyers managed to push [[GBP/USD]] above 1.30. Yesterday the climb in risk assets stopped though and markets were waiting for the Brexit vote in the British parliament.

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Forex Signals US Session Brief, Oct 22 – Markets on Standby for the Meaningful Brexit Vote

Posted on October 22, 2019October 22, 2019 by Skerdian Meta

It’s that time again when we get to see if the Brexit deal will pas the British parliament once again. This is the fourth attempt to pass the Brexit deal through the UK Parliament after the previous UK PM Theresa May consumed three attempts with hear Brexit deals, all of which failed to make it through. Chances for Boris Johnson’s deal passing the parliament are 50/50, considering the opposition and the DUP Party of North Ireland have made it clear that they won’t vote the deal. If that happens, then the UK will get another extension of Article 50 since the UK lawmakers made it illegal to leave on October 31 with no deal. We will likely have new general elections in the UK, so the uncertainty will be elevated.

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Forex Signals US Session Brief, Oct 21 – Last Week’s USD Slide Spills Into This Week

Posted on October 21, 2019 by Skerdian Meta

The USD has been pretty bullish for nearly two years now. It has been climbing as the economy of rest of the globe has weakened,especially this year. But, in the last few months the US economy has weakened considerably as well, especially manufacturing, as this months ISM report showed. As a result, the FED has turned dovish, cutting rates twice in the last two meetings and markets expect another rate cut soon, probably in this month’s meeting. So, the USD has turned bearish this month and it has been declining against all major currencies. The Buck closed last week in a very bearish mode, which has spilled into this week as well, as major currencies made new highs against the USD today.

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Forex Signals US Session Brief, Oct 18 – Markets on Standby Ahead of the Brexit Vote

Posted on October 18, 2019October 18, 2019 by Skerdian Meta

Yesterday, the UK Prime Minister Boris Johnson and the EU finally reached a deal on Brexit. That improved the sentiment further in financial markets, especially for the GBP which surged around 250 pips higher. Markets were expecting such a deal for about a week because all comments from the UK, the EU and Ireland pointed to that, but the announcement of the deal had a decent impact on markets nonetheless, because Boris Johnson has made it clear that the UK is leaving on October 31, with or without a deal.

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Forex Signals US Session Brief, Oct 17 – Another Brexit Deal is Reached, But Only in Paper

Posted on October 17, 2019October 17, 2019 by Skerdian Meta

The sentiment has turned quite positive in the last week or so. US and China were converging towards a trade deal, which they have reached. It was a partial deal which was called Phase One, but as Chinese officials commented today, both sides are discussing the next phase of the deal, with the intention to end the trade war. The trade war is going to last for some time until China tackles most of its wrongdoings, but the partial deal is enough for now for traders.

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Forex Signals US Session Brief, Oct 16 – The Soft Data Keeps Coming From All Over the Globe

Posted on October 16, 2019October 16, 2019 by Skerdian Meta

Today, we saw a number of important economic report being released from Europe and North america. It kicked off with the inflation report coming out of Britain this morning. Inflation has been one of the aspects of the UK economy which has been holding up well recently, despite the services, manufacturing and construction falling into contraction. Although, inflation cooled off in August, which increased fears of a slowdown. But, today’s CPI report calmed the nerves ad headline CPI remained unchanged at 1.7%, while core PCI jumped 2 points to 1.7% from 1.5%, which are decent levels.

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