IvanGlobalPrime
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The main mover last Friday was once again the suspect swinging the wildest as of late, that is, the British Pound. A couple of negative headlines around Brexit led to another strong round of selling pressure as the market comes to terms about the ongoing stalemate between the EU and the UK in order to reach a Brexit trade deal.
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The main mover last Friday was once again the British Pound. A couple of negative headlines around Brexit led to another strong round of selling pressure as the market comes to terms about the ongoing stalemate between the EU and the UK in order to reach a Brexit trade deal.
While the EU chief Brexit negotiator confirmed that he will be headed to London for further talks, what remains clear is that there is still a major impasse. Dominic Raab told the BBC over the weekend this week is most likely when the talks enter the “last real major week”, noting that an agreement remains possible if the EU shows “pragmatism”.
As traders, what this means, is that the British Pound is still the market offering the best volatility prospects to trade. On the contrary, the volatility spikes that are to come remain quite a risky business for those traders utilising tight stops amid the risk of slippage in order fillings due to the evaporation of liquidity and poorer competitive and riskier conditions for market makers.
Aside from the weakness in the Pound, the other currencies worth highlighting include the Euro, the Aussie and the New Zealand Dollar. They became the outperformers in a slow trading environment last Friday amid the post Turkey-hangover in what for many involved in financial markets traditionally represents a long weekend in observance of Thanksgiving.
GBP Weakness Main Theme
The main mover last Friday was once again the suspect swinging the wildest as of late, that is, the British Pound. A couple of negative headlines around Brexit led to another strong round of selling pressure as the market comes to terms about the ongoing stalemate between the EU and the UK in order to reach a Brexit trade deal.
Let’s get started…
- Scan of the Forex market
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Scan of the Forex market
To see an expanded version, right-click and select ‘open link in new tab’. The indices show the performance of a currency vs a G8 Forex basket. Indicators are available to use these measures via Tradingview and MT4.The main mover last Friday was once again the British Pound. A couple of negative headlines around Brexit led to another strong round of selling pressure as the market comes to terms about the ongoing stalemate between the EU and the UK in order to reach a Brexit trade deal.
While the EU chief Brexit negotiator confirmed that he will be headed to London for further talks, what remains clear is that there is still a major impasse. Dominic Raab told the BBC over the weekend this week is most likely when the talks enter the “last real major week”, noting that an agreement remains possible if the EU shows “pragmatism”.
As traders, what this means, is that the British Pound is still the market offering the best volatility prospects to trade. On the contrary, the volatility spikes that are to come remain quite a risky business for those traders utilising tight stops amid the risk of slippage in order fillings due to the evaporation of liquidity and poorer competitive and riskier conditions for market makers.
Aside from the weakness in the Pound, the other currencies worth highlighting include the Euro, the Aussie and the New Zealand Dollar. They became the outperformers in a slow trading environment last Friday amid the post Turkey-hangover in what for many involved in financial markets traditionally represents a long weekend in observance of Thanksgiving.