UK and US 10 year yields widen The UK and US 10 year yields have now widened to 174bps. This is the larget gap since 1984 as Gilt yields plunge. Price just showing a rejection of the 50 EMA on the 5 minute GBPUSD chart.
USDJPY falling on Brexit risk off tones The Brexit saga is taking the focus of the markets right now and there is a risk off tone that is affecting the USDJPY. The US retail sales were a beat, but the focus right now is not the US, but the UK. USDJPY is making it way…
The FT have a great summary up looking various scenarios ahead for the UK quitting the European Union FT is gated, but it is possible to register and get access to some free reads. This article is worth doing that if you are not a subscriber.
GBP on target for largest daily fall against the Euro since Oct 2016 Prepare for some more volatility ahead, for sure. ForexLive
Build in inventories US Oil data shows that there has been a build in inventories for release details. See here The underside of the 4 hour channel is now being tested, seen here on the 15 minute chart. The 4 hour trend line is shown above sloping down. Stay below and the 200EMA and 100EMA…
Crude oil was trading at $57.09 before report. This was the API data from yesterday. The build was bigger than the API data. Oil down on the data and pulling away from the 4hr underside of the trend line channel highlighted below
GBPUSD at 1.2767 1.2777 PM may is holding a press conference at 1700GMT. GBP continues to scrape along the bottom of the daily range having been contained by the 50 EMA on the 5 minute chart
To 8% from its prior level of 7.75% Today’s decision was the consensus expected, but it wasn’t a unanimous consensus Bank of Mexico statement (highlights): – one member voted for a 50bp hike –
Laser focus for May Markets It was another day dominated by Brexit headlines. The brexit minister Dominic Raab resigned, Rees-Mogg threatened to hand in a vote of no confidence for May’s leadership and a number of resignations trickled in through the day. The GBPUSD fell heavily as it becomes increasingly apparent that a Parliament vote…
What happens now? The last few days have been relentless in the ups and downs of the Brexit saga. Having been so close to the detail it is time to take a step back and see the framework for the possible paths ahead.