Created
: 2024.10.29
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
GBP: No risk premium ahead of UK Budget - ING
Breaking news
GBP: No risk premium ahead of UK Budget - ING
New
2024.10.29 17:48
2024.10.29 17:48
2024.10.29 17:48
The Pound Sterling (GBP) is in full wait-and-see mode ahead of tomorrow's Budget announcement by Chancellor Rachel Reeves. There are two technical factors to consider ahead of a potential market-adverse reaction in the pound tomorrow, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Risks remain skewed to a move to 1.2800-1.2850
"First, there is no political risk premium priced into sterling at the moment, with our model returning a short-term EUR/GBP fair value at 0.834. Remember that in previous instances of political/gilt-related turmoil in the UK, the EUR/GBP risk premium was around 3-5%."
"Secondly, the latest CFTC figures show speculators are still extensively long on the pound. As of 22 October, net-long GBP positions were the largest in G10 (32% of open interest), having resisted the rotation back into the dollar observed in other developed currencies."
"GBP/USD continues to look vulnerable ahead of tomorrow's Budget event and next week's US election, and risks remain skewed to a move to 1.2800-1.2850."
Last updated
: 2024.10.29
Related articles
Mexican Peso plunges to new yearly low amid strong US Dollar
2024.11.02 07:31Australian Dollar declines after high-tier US data, Chinese worries
2024.11.02 06:40NZD/JPY Price Analysis: Mixed technical outlook with sideways movement
2024.11.02 05:49Forecasting the upcoming week: US Presidential Elections overshadows Fed's decision
2024.11.02 05:32Dow Jones Industrial Average surges on soft US NFP data, Fed easing hopes rise
2024.11.02 04:04US Dollar rebounds after NFPs and ISM PMIs
2024.11.02 04:00
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Mexican Peso plunges to new yearly low amid strong US Dollar
The Mexican Peso depreciated sharply against the Greenback on Friday and recorded new yearly highs of 20.29, above the former 20.22 peak late in the North American session, set to print weekly losses of over 1.50%.
New
2024.11.02 07:31Australian Dollar declines after high-tier US data, Chinese worries
.
New
2024.11.02 06:40NZD/JPY Price Analysis: Mixed technical outlook with sideways movement
Friday's trading saw the NZD/JPY pair continue its sideways movement of the past sessions.
New
2024.11.02 05:49Forecasting the upcoming week: US Presidential Elections overshadows Fed's decision
This past week, the US Dollar consolidated at around familiar levels, though it is set to snap four consecutive weeks of gains ahead of a busy schedule.
New
2024.11.02 05:32Dow Jones Industrial Average surges on soft US NFP data, Fed easing hopes rise
The Dow Jones Industrial Average (DJIA) posted solid gains of close to almost 300 points or 0.71% on Friday, on softer-than-expected economic data, reinforcing investors' hypothesis of further easing by the Federal Reserve.
New
2024.11.02 04:04US Dollar rebounds after NFPs and ISM PMIs
The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, rebounded intraday despite the weak jobs data as annual wage inflation rose to 4%, indicating that inflationary pressures remain elevated.
New
2024.11.02 04:00Canadian Dollar mixed after US NFPs, ISM PMIs
The USD/CAD currency pair saw a mild decline in Friday's session, reaching a low of 1.3920.
2024.11.02 02:10GBP/USD Price Forecast: Climbs post weak US jobs report, eyes 100-day SMA
The Pound Sterling erased some of its Thursday's losses against the Greenback and rose 0.56% above its opening price after a dismal US jobs report reassured investors the Federal Reserve would continue to ease policy.
2024.11.01 23:56RBNZ: A high bar for a 75bps cut - Standard Chartered
We think the bar is high for a 75bps OCR cut given the prevailing economic backdrop.
2024.11.01 23:56EUR/CAD Price Prediction: Decisively breaks out of top of pattern
EUR/CAD rallies and pierces decisively above the slanting roof of the price pattern it had been trading in since the beginning of August.
2024.11.01 23:40Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
