Ig markets forex trading hours

Ig markets forex trading hours

Posted: Andrey Kochurov Date: 03.06.2017

Yen Aims to Extend Gains, Pound Focus Shifts Back to Politics. Gold Prices May Find a Lifeline as Market Mood Darkens. Loonie Slides as Crude Dives- USDCAD Recovery Eyes Resistance.

ig markets forex trading hours

Gold, USD Strong Inverse Correlation and in Confluence. FTSE Further Develops Range on Sharp Turn Lower. Dow Jones Industrial Average Struggles to Hold the Gap Higher. Dollar may be near a turning point. While price action in DXY continues above the But this strength appears to be asymmetric, as some major pairings are showing more of this recent theme than others.

The Euro has been rather resilient after an ECB rate decision earlier in the month saw the bank take a very dovish stance. This syncs very well with a similar scenario in latter April, after the topside breakout from the first round of French elections.

In April, much as we saw in June, Mario Draghi attempted to talk- dow n the prospect of stimulus exit in an apparent attempt to quell strength in the Euro. And while a bit of weakness did show in April, and again in June after these repeated please, buyers showed-up near support to hold the lows.

That support in April led to another top-side breakout as price action jumped out of the bullish channel.

ig markets forex trading hours

Will the post-ECB support iteration after the June meeting lead into the same? This could be one of the more attractive areas to fade this recent bout of USD-strength. IG Client Sentiment is currently showing a read of Chart prepared by James Stanley. On the 4-hour chart below, we get a bit more in-depth with the move in order to focus on near-term support. The British Pound, on the other hand, appears to be attractive for a continuation of USD-strength as a variety of bearish factors have recently hit the currency.

It appears that we have a mesh of fundamental and technical situation as a variety of negative factors have popped-up for the U.

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We discussed this theme in-depth in our earlier article, The British Pound Breakdown. The gist of the current scenario is that after a brief respite of strength that started in mid-April, it appears that the bears are back after U. Earlier this morning, BoE Governor Mark Carney reiterated his dovish stance, saying now is not the time for a rate hike, and GBP has continued to sell-off in the wake of those comments, leaving Cable in a rather bearish state.

In my opinion, this could be one of the more attractive ways to trade for a continuation of USD-strength. Price action has gotten a bit messy since resistance began to show on the top of that channel, so this setup may require some room to work. On the hourly chart below, we get a bit more in-depth to look at support levels that can be usable for stop placement and topside reentry. Contact and follow James on Twitter: See the full DailyFX Webinar Calendar for all upcoming strategy sessions.

The source of DXY strength is rooted in British Pound weakness, cisco unified callmanager user options web pages has now given up all of its gains since Thursday's Bank of England policy meeting, finding itself back near its post-election lows versus the greenback and the Euro.

While the BOE's rate decision last week sparked speculation that a rate rise could be nearer than previously thought, Governor Mark Carney poured cold water all over those hopes this morning at this Mansion House speech. Of note, the governor said, "From my perspective, given the mixed signals on consumer spending and business investment, and given the still subdued domestic inflationary pressures, in particular anemic wage growth, now is not yet the time to begin that adjustment.

It seems that the market is coming to its senses after the ig markets forex trading hours last Thursday.

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There are several factors working against the BOE's ability to raise rates. First, one of the dissenting voters, Kristin Forbes, is leaving at the end of this month, and will be replaced by Silvana Tenreyro. While Forbes has spent her time talking up concerns about inflation, Tenreyro is known for her a cad emic interest in negative interest rates NIRPwhich is considered an extremely dovish policy outcome.

By all indications, Tenreyro will be much more binary options market share than her predecessor. Second, strategy on incomes for binary options 60 seconds readings look set to peak this summer, now ig markets forex trading hours the year-over-year base effect of Brexit on the GBP exchange rate will be far less substantial and now that oil prices have started to slide.

Finally, with the Brexit negotiations in the balance, the fragile Tory-DUP alliance could break, forcing another general election and thus, increase uncertainty for the UK. Another rating cut could put more focus on UK Prime Minister Theresa May, who is under a great deal of pressure for how her party lost seats in the recent election.

FX Markets Turn to Central Banker Speakers, RBNZ Decision, Canadian CPI. To contact Christopher Vecchio, e-mail cvecchio dailyfx.

Follow him on Twitter at CVecchioFX. View our long-term forecasts in the DailyFX Trading Guides.

The Japanese Yen outperformed as stocks declined in Asian trade, boosting the standby anti-risk currency. The sentiment-linked Australian and New Zealand Dollar s duly tracked lower.

Looking ahead, a dull offering of Eur opean and US economic data may allow for risk appetite trends to remain at the forefront. This will be aimed to show how the now-minority Conservative government of Prime Minister Theresa May and its allies at the DUP intend to proceed with Brexit.

The Tories are less conciliatory on the former but more easy-going on the latter. See the full DailyFX economic calendar here.

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ig markets forex trading hours

Contact and follow Ilya on Twitter: Market News Headlines getFormatDate 'Wed Jun 21 Technical Analysis Headlines getFormatDate 'Wed Jun 21 Gold, USD Strong Inverse Correlation and in Confluence getFormatDate 'Wed Jun 21 Education Beginner Intermediate Advanced Expert Free Trading Guides.

News getFormatDate 'Wed Jun 21 News getFormatDate 'Tue Jun 20 USD Strength, Trade or Fade: Setups in Euro, GBP and JPY getFormatDate 'Tue Jun 20 Related Articles Previous Articles From US Related Prev Articles getFormatDate 'Wed Jun 21 But Does This Move Have Staying Power?

BoE, BoJ Wait in the Wings getFormatDate 'Mon Jun 12 Sterling Sinks as Carney Culls Hopes of BOE Rate Hike getFormatDate 'Tue Jun 20 News events, market reactions, and macro trends.

Related Articles Previous Articles From EURO Related Prev Articles getFormatDate 'Wed Jun 21 Yen Aims to Extend Gains, Pound Focus Shifts Back to Politics getFormatDate 'Wed Jun 21 Fundamental analysis, economic and market themes Connect via: Related Articles Previous Articles From ASIA Related Prev Articles getFormatDate 'Wed Jun 21 Upcoming Events Economic Event.

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