British Pound Sep '19 (B6U19)Get Barchart Premier
British Pound Futures Market News and Commentary
The dollar index (DXY00) this morning is up +0.056 (+0.06%). Sep euro-fx futures (E6U9) are up +0.00015 (+0.01%), and EUR/USD (^EURUSD) is up +0.0009 (+0.08%). Sep yen futures (J6U9) are down by -0.0030 (-0.32%), and USD/JPY (^USDJPY) is up +0.24 (+0.23%). The dollar index is higher today, but remains below Friday's 2-week high, on reduced U.S./China trade tensions that has boosted stocks and reduced safe-haven demand for the yen. Trade tensions receded, which is positive for economic growth and the dollar, after U.S. Commerce Secretary Ross said today that China's Huawei Technologies has been granted a 90-day extension to do business in the U.S. The dollar also found support on comments from White House economic director Kudlow who said on Sunday that recent phone calls between U.S. and Chinese trade negotiators were "positive." The yuan is weaker against the dollar today by -0.10% to 7.0500 yuan/USD, just above last Tuesday's 11-1/4 year low of 7.0726 yuan/USD. EUR/USD is little changed today on offsetting factors. On the bullish side was the comment by German Finance Minister Scholz that Germany could spend an extra 50 billion euros ($55 billion) in an economic crisis. On the bearish side for EUR/USD, today's Eurozone July CPI was revised lower to a 2-1/2 year low of 1.0% y/y from 1.1% y/y, which prompted ECB Governing Council member Muller to say, "Eurozone inflation clearly trails the target, and this may mean the ECB will have to add stimulus." Also, the Bundesbank in its monthly report today warned that Germany could be about to fall into recession saying that German output will remain "lackluster" in Q3 and "could continue to fall slightly." Q2 German GDP fell by -0.1% q/q, which means another quarter of contraction in Q3 would be the start of a technical recession in Germany, Europe's largest economy. USD/JPY is higher today as the sharp rally in equities curbed the safe-haven demand for the yen.
- Stock Index Futures Higher on Overseas Fiscal Stimulus Plans
There was support after German Finance Minister Olaf Scholz hinted that Germany may initiate an approximately $55.55 billion new fiscal stimulus package....
- GBPUSD Risks Flip Higher
GBPUSD trying to form a small base with the bias shifting higher
- GOLD Broader Bias Remains higher But With Corrective Warning
GOLD broader bias remains higher but with corrective warning. On the downside, support comes in at the 1,500.00 level
- EURUSD Looks To Recapture The 1. 1026 Support Zone
EURUSD looks to recapture the 1.1026 support zone as it retains its broader weakness.
- USDCHF Bounces Off Lower Prices On Correction
USDCHF bounces off lower prices on correction the past week. This has opened the door for more gain in the new week.
- Today's Stock, Metal, and Energy Forecasts, Aug 16 2019
Take a look at today's market summary!