|Day's range||1.269 - 1.28|
|52-week range||1.2481 - 1.3491|
The British pound on Tuesday momentarily strengthened against its main currency rivals, notably the euro and the U.S. dollar, as U.K. Prime Minister Theresa May made a final bid to pro-European Union members of parliament to support her deal to exit from Europe's trade bloc, which included the chance of a second referendum. May's Brexit deal has already been rejected three times by U.K. lawmakers, with the premier's latest effort being widely viewed as a last-ditch effort to get her Brexit deal passed, with the promise of a second referendum on Brexit, holding the potential to sway those lawmakers committed to remaining an EU member. May's comments, made at the end of a summit of EU leaders in Brussels, initially, took the British pound sharply higher against the the U.S. dollar and the euro , with a dollar buying $1.2754, up 0.2%, but it had been up $1.2813 at Tuesday's peak. The shared currency, meanwhile, was buying £0.8754, down 0.2%, but it had been as low as £0.8725, according to FactSet data.
London markets shook off a weakening pound and a disappointing industrial orders figure to erase Monday’s decline. The U.K.’s FTSE 100 (UK:UKX) is higher at 7,366.1, rising 0.8% to more than wipe out Monday’s 0.5% decline.
Brexit tensions and positive Greenback playing tug-of-war with Cable, bringing it down significantly. UK PM Theresa May to discuss her “New Modified Deal” today.
Based on the early price action and the current price at 97.900, the direction of the June U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 97.950.
The RBA talks of rate cuts to pin back the Aussie Dollar as trade war jitters linger. Another quiet day on the stats leaves geopolitical risk in focus.
The Australian dollar rallied as much as 1% on Monday after the incumbent Liberal-National government retained power in a surprise election result defeating the favored Labor party.
The Safe-haven pair dropped from last week’s high amid positive Japanese data and plunging USD Index. Iran Foreign Minister commented on Trump’s tweets against Iran as “genocidal taunts”.
The British pound stabilized a bit during the trading session on Monday, showing signs of indecision. We are hanging just above the 1.27 level, an area that I have pointed out in the past that is relatively important.
LONDON MARKETS Ryanair’s gloomy outlook for the coming year dragged on London markets Monday and fellow airlines, while banks were also weaker. A fresh bout of trade tensions also weighed on London and European equities.
European stocks stumbled Monday as trade tensions kicked off the week, dragging global markets lower, with technology and apparel makers under pressure on the continent. Italy’s FTSE MIB (IT:I945) plunged 2.8% amid increased political tensions, after Deputy Prime Minister Matteo Salvini led a rally Saturday ahead of European elections, vowing to take on the region’s mainstream leaders. In Germany, the DAX (DX:DAX)(DAX) declined 1.8% to 12,013.75, adding to its woes Friday when it swooned 0.6%.
The return of domestic political turmoil in the United Kingdom has led to a flurry of selling momentum for the British Pound, which fell over 300 pips during the previous trading week.
June U.S. Dollar Index traders should keep an eye on the Euro since it is heavily weighted in the index. The Dollar Index could weaken if the EUR/USD takes out 1.1164 and strengthen if the EUR/USD breaks through 1.1152.
EU Parliamentary Elections kick off on Thursday, with Britain and the Netherlands going to the polls first. Will the far-right finally find their voice?
It’s a mixed start to the day, support for the Aussie Dollar kicked in, while the EUR and the Pound could be under pressure. EU elections loom…
Investing.com -- The dollar is pushing toward the two-year high it hit in April in early trading in Europe on Monday, after election victories for business-friendly incumbents in Australia and India offset ongoing worries over trade relations between the U.S. and China.
Investing.com - The Chinese yuan rose against the U.S. dollar on Monday in Asia. In a report published late Friday, the People’s Bank of China (PBOC) said they would continue with stimulus while keeping the currency steady.
Australian Federal Elections go the way of the Aussie Dollar, with Brexit, EU elections, stats, and trade war chatter in focus in the week ahead.
Investing.com - After a week dominated by escalating trade tensions between the U.S. and China the trade war looks likely to remain to the forefront of investors’ minds, but this week will also feature Federal Reserve minutes, U.S. retail earnings and economic data as well as European Union elections.
The U.S – China trade war continued to grip the markets and, while the China economy showed cracks, U.S stats impressed.
Robust growing USD Index pushed down all its major rivals. Hence, EUR/USD pair plunged despite positive Euro-specific data. Meanwhile, the Cable continued to douse in fall amid Brexit chaos.