{"id":31490,"date":"2022-07-07T14:32:00","date_gmt":"2022-07-07T13:32:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=31490"},"modified":"2022-07-08T16:24:01","modified_gmt":"2022-07-08T15:24:01","slug":"morning-brief-pound-traders-nervous","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-pound-traders-nervous\/","title":{"rendered":"Morning Brief &#8211; Pound Traders Nervous"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"31490\" class=\"elementor elementor-31490\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3f735a5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3f735a5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-344b5f8\" data-id=\"344b5f8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b1e6957 elementor-widget elementor-widget-text-editor\" data-id=\"b1e6957\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Markets are in a more optimistic mood after the Federal Open Market Committee (FOMC) Minutes after Fed policymakers appear determined to announce another 50 or 75 basis points rate hike.<\/p><p>However, the FOMC\u00a0Minutes highlighted the need for the \u201crestrictive stance of policy\u201d to stop the economy faltering further. This has boosted riskier asset classes.<\/p><p>Traders are also brushing aside more warnings about a coming economic recession over the next few quarters for the International Monetary Fund on late Wednesday.<\/p><p>IMF Managing Director Kristalina Georgieva said, THAT \u201cGlobal economic outlook has &#8216;darkened significantly&#8217; since last economic update.\u201d And that the IMF \u201cCannot rule out the possible global recession in 2023.\u201d<\/p><p>One asset class that is still affected by risk and not following the market lower is the <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">British pound currency<\/a>. The political crisis in the United Kingdom is causing the GBP pair to hold losses near two-year low.<\/p><p>Now over 30 UK diplomats have resigned, and the 1922 Committee are eyeing a second no-confidence and changing the rules so that this can actually happen.<\/p><p>The good news for Boris Johnson bulls is that the UK PM refuses to go, and has fought back against the backlash, and replaced a number of key ministers.<\/p><p>Still, the tense situation in Westminster is likely to keep the British pound on the backfoot. The <a href=\"https:\/\/bit.ly\/3aXPCqN\" target=\"_blank\" rel=\"noopener\">UK100<\/a> is weathering the storm and continues to trade in lockstep with the mood of US stocks.<\/p><p>Looking forward, markets catalysts ahead are the US ADP Employment Change for June, expected 200,000 versus 128,00 prior. A strong number would be <a href=\"https:\/\/bit.ly\/3tzpfOh\" target=\"_blank\" rel=\"noopener\">USD<\/a> bullish.<\/p><p>With <a href=\"https:\/\/bit.ly\/3xXeisy\" target=\"_blank\" rel=\"noopener\">Crude<\/a> and <a href=\"https:\/\/bit.ly\/3xF1d5K\" target=\"_blank\" rel=\"noopener\">Brent<\/a> still under pressure there will also be a strong focus on stockpile data for oil from the United States later today. Although, the real moves will probably come on Friday after the jobs report.<\/p><p>Traders should note the Non-farm payrolls on Friday comes with expectations of 270,000, which is much lower than the 390,000 jobs created in May.<\/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":"<p>Markets are in a more optimistic mood after the Federal Open Market Committee (FOMC) Minutes after Fed policymakers appear determined to announce another 50 or 75 basis points rate hike. However, the FOMC&nbsp;Minutes highlighted the need for the \u201crestrictive stance of policy\u201d to stop the economy faltering further. This has boosted riskier asset classes. Traders [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":31492,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[535,94,154,69,87,306],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morning Brief - Pound Traders Nervous - 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\/morning-brief-pound-traders-nervous\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - Pound Traders Nervous Morning Brief - Pound Traders Nervous\" \/>\n<meta property=\"og:description\" content=\"Markets are in a more optimistic mood after the Federal Open Market Committee (FOMC) Minutes after Fed policymakers appear determined to announce another 50 or 75 basis points rate hike.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-pound-traders-nervous\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-07T13:32:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-08T15:24:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/07\/gettyimages-470799175.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"605\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - Pound Traders Nervous Morning Brief - Pound Traders Nervous\" \/>\n<meta name=\"twitter:description\" content=\"Markets are in a more optimistic mood after the Federal Open Market Committee (FOMC) Minutes after Fed policymakers appear determined to announce another 50 or 75 basis points rate hike.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-pound-traders-nervous\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-pound-traders-nervous\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Morning Brief &#8211; 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