Daily Analysis: 18 Mar 2019

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GBP

Fundamental Analysis

(18th Mar): GBP/USD extended the weekly gain to 2.1% last week after U.K. parliament rejected a no-deal Brexit. As the uncertainties still remain amid the 90-day Brexit delay, the downside has started to weigh on the currency starting this week.

The upside strength got increased support on the BBC report that the UK’s Finance Minister Philip Hammond said that a significant number of the British members of parliament (MPs) support PM May’s plan that’ll be up for voting on Tuesday. The downside also remains as some the British MPs ask for PM May’s resignation in April in exchange of their support to her Brexit proposal while the British Chambers of Commerce (BCC) lowered their GDP forecasts for the UK economy. GBP is likely to rise further since there’s a high chance that May’s plan will be passed on Tuesday, which echoes our technical analysis where BXY is likely to rise further although a bearish divergence could mean some consolidation before that.

 

 

 

Technical Analysis

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USD

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Fundamental Analysis

(18th Mar): The dollar steadied after its biggest weekly loss this year on the back of reports which showed U.S. manufacturing and industrial production moderated over the past month. This week’s focus is on FOMC meeting this Wednesday, however, the central bank is likely to hold the interest rate unchanged… [/blur][/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column][vc_empty_space height=”35px”][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=””][vc_column_inner width=”1/5″][/vc_column_inner][vc_column_inner width=”3/5″][vc_separator type=”normal” color=”#b70909″ border_style=””][/vc_column_inner][vc_column_inner width=”1/5″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”35px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column width=”1/5″][/vc_column][vc_column width=”3/5″][kswr_heading head_align=”center” head_subtitle_color=”#333333″ head_title=”ACCESS RESTRICTED” head_title_fsize=”font-size:23px;line-height:2;” head_title_fstyle=”font-family:Inherit;font-weight:700;” head_subtitle_fsize=”font-size:17px;line-height:1.5;” head_subtitle_fstyle=”font-family:Inherit;font-weight:inherit;” head_title_margins=”margin-top:0px;margin-bottom:0px;” head_subtitle_margins=”margin-top:0px;margin-bottom:0px;”]Our comprehensive daily reports covers both technical and fundamental analysis, and are customised to your requirements.

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