Free Trial

GBP: GBP/USD Drifts to Daily Lows, Volumes Still Well Supported

GBP
  • GBP/USD's drift over the past hour or so coincides with the greenback inching toward the best levels of the session so far - but yesterday's highs in the USD Index, and yesterday's lows in GBP/USD remain out of range for now. 
  • Headlines earlier today showed that CME FX futures volumes hit an all-time record on Wednesday last week, with market volatility, renewed political risk and the futures roll likely all playing a part. Some of that effect still clearly filtering through, with around 28k GBP futures contracts traded in what's been a quieter session for spot - that's ~10% ahead of average for this time of day. 
  • US retail sales provide the next flashpoint for activity - after which industrial production and a very busy Fed speaker schedule take focus. 

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.