{"id":11629,"date":"2021-07-12T18:09:00","date_gmt":"2021-07-12T17:09:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=11629"},"modified":"2021-07-12T22:59:44","modified_gmt":"2021-07-12T21:59:44","slug":"gbpusd-off-the-days-low-as-johnson-declares-pandemic-not-over","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/gbpusd-off-the-days-low-as-johnson-declares-pandemic-not-over\/","title":{"rendered":"GBPUSD off the day\u2019s low as Johnson declares pandemic not over"},"content":{"rendered":"\t\t
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Market Wrap<\/strong><\/p>

To some it may feel like gambling, especially if you have a bias at the London open and then have to reverse that thesis by the opening of the US session. Panning out to a weekly chart gives you the general direction of travel but using the lower time frame charts for timing your entry is a real skill that all investors and traders need to master if they use leverage or push the limit of their position sizing. \u00a0<\/p>

I often say that the markets do not like uncertainty, which is why it is often a wise idea to fade the news, especially if the asset has been traded quite heavily into the news. Sayings like \u201cBuy the rumour, sell the news\u201d are commonplace.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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This morning the European bourses and FTSE 100<\/a> were red, with the UK index been dragged lower by the miners and anything associated to travel. At the London close the FTSE was green again and up 0.19% to 7,129.60. Companies like Ryan Air are looking to hire 2000 new pilots as they see the end of restrictions in the UK as being the bottom in the air travel industry. The DAX<\/a> had travelled further, breaking above the previous trading day\u2019s high and making a new all-time high.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Some of today\u2019s gains were in the Tech sector as word came through that the EU would put their plans for a Digital Services levy on hold. The US Nasdaq<\/a> traded to new all-time highs too as the US session opened. Investors are prepping for second-quarter earnings season starting this week in order to gauge whether corporate profitability can support equity valuations. Treasury yields<\/a> edged higher, and the US government sold 58 billion of new 3-year notes and will sell up to 38 billions of 10-year notes at auction later.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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TLT<\/a> is signalling that it feels yields are going to go higher today but as inflation worries are subsiding this increase in yields were not a major problem but had slightly dented investors\u2019 confidence in Apple<\/a>, Microsoft<\/a> and Amazon<\/a>. Tesla<\/a> is currently up 3.90%, with Google<\/a> and Facebook<\/a> both up 0.69% at the time of writing.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The US dollar<\/a> hasn\u2019t moved much today but it is continuing to trade above the daily 200 ema and looks poised to break higher assuming the 200 ema can act as support if tested.<\/p>

Just before the London close the US dropped a data point called Consumer Inflation Expectations. Today\u2019s reading came in at 4.8% and above the previous 4% and market expectations. Tomorrow is US CPI which will be market moving if it beats expectations.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The pound <\/a>was weaker this morning and closed the London session in the red. Unfortunately, there is nothing to cheer about with the football anymore, and the miners and travel related stocks really put pressure on the pound in early trading. The pound caught a bid when the EURGBP<\/a> got weaker from the US open which continued to fall into the London close, as US Fed Williams gave a speech on \u201cInflation: Dynamics, Expectations and Targeting\u201d and the ECB bought \u20ac15.734 billion in their PEPP programme.<\/p>

The EURUSD<\/a> is still hugging the 1.1800 – 1.1850 zone and US CPI could be the first time this week it moves. There are Eurogroup meetings scheduled for this week so we could get a reversal at any time.<\/p>

ECB President Lagarde said \u201cnow is not the time to be talking about dialling back stimulus\u201d but that the July meeting will be very important, and the market should expect a change to the policy guidance.<\/p>

Peter Kazimir of the European Central Bank (ECB) Governing Council said that central bank will not allow for the low inflation to “become entrenched” amid the still ongoing COVID-19 pandemic. But as a close watcher of the markets, I am surprised he hasn\u2019t twigged that low interest rates by decree, Bond buying asset purchases like PEPP and loose monetary policy leads to deflationary pressures. The current bank rate from the ECB is 0.000%.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Market Wrap To some it may feel like gambling, especially if you have a bias at the London open and then have to reverse that thesis by the opening of the US session. Panning out to a weekly chart gives you the general direction of travel but using the lower time frame charts for timing […]<\/p>\n","protected":false},"author":5,"featured_media":8132,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,2],"tags":[14,154,57,101,27,443,67],"yoast_head":"\nGBPUSD off the day\u2019s low as Johnson declares pandemic not over - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/gbpusd-off-the-days-low-as-johnson-declares-pandemic-not-over\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GBPUSD off the day\u2019s low as Johnson declares pandemic not over\" \/>\n<meta property=\"og:description\" content=\"Market Wrap To some it may feel like gambling, especially if you have a bias at the London open and then have to reverse that thesis by the opening of the US session. 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