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Sterling attempted to overthrow the key figure 1.30 Monday, though failed to muster enough oomph to sustain gains as further delays were put into the Brexit process.

Sterling savoured another stellar week, notching gains in excess of 300 points and closing not too far off session highs at 1.2989. Technically, focus has shifted to supply at 1.3472-1.3204 and long-term trend line resistance (etched from the high 1.5930), following last week’s dominant push through the 2019 yearly opening level at 1.2739.

The pound remained at the mercy of breaking Brexit news Thursday, with early reports that the DUP is still dissatisfied with the draft proposals drawn up by UK and EU negotiators.

Thanks to sub-standard US retail sales and ongoing Brexit-related optimism, EUR/USD bulls continued to strengthen their grip Wednesday, adding more than 40 points and recording a second successive gain.

Key risk events today: UK CPI y/y; UK PPI Input m/m; Canada CPI m/m, Common CPI y/y, Median CPI y/y and Trimmed CPI y/y; US Core Retail Sales m/m; US Retail Sales m/m; BoE Gov Carney Speaks; FOMC Members Evans and Brainard Speak; German Buba President Weidmann Speaks. EUR/USD: The euro settled a shade higher … Continue reading Wednesday 16th October: Dollar index languishing around the lower end of the week’s range ahead of packed macroeconomic calendar.