Guessing the Brexit door
This week will be critical for the #GBP, which may result in increased volatility both downwards and upwards. Right now, positive market sentiment supported by hopes for approval of the UK exit from the EU, but it will be harder in the future.

Take a look at our Brexit timetable and potential impact of the events on the currency pairs with GBP and overall markets.

https://fxpro.news/daily-forex-outlook/guessing-the-brexit-door-20191015/

The regulators strangled Libra and get down to the GRAM

On crypto, instead of financial technology breakthrough and a "Brave new world", the more often we saw references to "1984", judging by how strong the governments' desire to get rid of even hypothetical competitors in the form of Libra and GRAM.

Bitcoin and some other cryptocurrencies appear to be considered as "unavoidable evil" by the authorities, but they see no threat in these projects. They don't see it yet. It's about the trade volumes: if we are talking about several fake billions of dollars, no one will waste the time of regulators.

https://fxpro.news/analysis-and-insight/the-regulators-strangled-libra-and-get-down-to-the-gram-20191015/

#WaveAnalysis
#GBPNZD is expected to rise further and retest the next resistance level 2.0400

https://fxpro.news/market-snapshots/gbpnzd-wave-analysis-15-october-2019-20191015/

FX: The dollar fell 0.2% per day to 98.0 DXY. There is some rollback on the market after the day before. Except for a decrease in GBPUSD by 0.3%, there is a weakly pronounced dynamics in any direction.

Stocks: S&P500 futures are losing 0.2% from the start of the day to 2990 after rising 1.1% the day before. MSCI World adds 0.8% over the last 24h, almost unchanged in the morning. The VIX volatility index remained near 14.1.

Commodities: By 09:00 GMT Brent traded at $ 58.2, declined 0.8%. Overnight Gold decreased to $1480 after the growth of markets, in the morning it strengthens to $1483.

Crypto: Bitcoin lost 2% per day, remaining at $8100. The top 10 altcoins range from +5% (TRX) to + 4.0% (BSV).

Where GBP is heading now?

In less than a week, the #GBPUSD strengthened by 5% and #EURGBP by 4.3%.

Since last Thursday's rally, GBPUSD has come a long way from near 1.22 and touched 1.28 last night. At the time of writing, the pound corrected to 1.2750, although the pair remains above the critical 200-day moving average line at 1.2710. It often acts as an essential trend indicator. Fixing the pound above this line at the end of this week will be a necessary signal for the markets to end the devaluation period.

https://fxpro.news/daily-forex-outlook/where-the-pound-aimed-20191016/

Bit-comment: Bitcoin quetly sank under $8000

The crypto market started to decline moderately. On Wednesday morning Bitcoin loses almost 2% and changes hands for $8,000. The price decreases with a relatively stable trading volume of around $15bn. Other leading cryptocurrencies also show a decline of 1-5%.

https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-quetly-sank-under-8000-20191016/

#WaveAnalysis
#EURNZD is expected to rise further and retest the next resistance level 1.7800

https://fxpro.news/market-snapshots/eurnzd-wave-analysis-16-october-2019-20191016/

Important Upcoming Events (GMT):

All day GBP 🇪🇺🇬🇧 [!!!] European Council Meeting
08:30 GBP 🇬🇧 [!!] UK Retail Sales
12:30 USD 🇺🇸 [!!] US Building Permits
13:15 USD 🇺🇸 [!!] US Industrial Production
02:00 CNH 🇨🇳 [!!!] China Real GDP

Detailed economic calendar

FX: The dollar fell 0.3% per day to 97.7 DXY. On the market, the dollar weakened after weak data from the US and optimism around the Brexit deal. Sensitive to demand for risks, ZAR, AUD add about 0.5%. GBPUSD decreased by 0.2% after the 1.2% intraday rally on Wednesday.

Stocks: S&P500 futures remain at 2990, little changed over the last 24h. MSCI World virtually unchanged. The VIX volatility index fell from 14.1 to 13.8.

Commodities: Brent is trading at $58.8, almost unchanged over the day. Gold declined to $1487 after an unsuccessful attempt to go above $1490 on Wednesday.

Crypto: Bitcoin lost 2% per day, remaining at $8,000. The top 10 altcoins ranged from -5.0% (TRX) to -0.8% (BNB).

Dollar pessimism is back

The dollar dragged down by domestic retail sales. Weak economic data resulted in a decrease of the dollar index to the area of September lows to 97.60. A similar disappoint may also come from the housing and manufacturing data, set to release today.

For the dollar, this may be an unpleasant surprise, as it will bring back the expectations of new rate cuts to the markets.

https://fxpro.news/daily-forex-outlook/dollar-pessimism-is-back-20191017/

UK Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker announced the reach agreement on Brexit deal.

GBPUSD jumped to 1.2990 shortly after this news. Now, UK PM faced a challenge in getting this deal approved by parliament, which has repeatedly rejected May’s agreement with the EU earlier.

Northern Ireland’s Democratic Unionist Party maintained on Thursday that it could not support the agreement in its current form.
That raised doubts, whether Johnson will be able to win the British parliament’s approval on special parliamentary session on Saturday.

The comments of British politicians and the results of polls can have a significant impact on the markets, especially at the opening of trading on Monday.

SEC stopped Libra and Gram, but what about China?
Long-awaited events on cryptomarket, including Bakkt, Libra and Telegram, have not only failed to increase optimism but have also darkened clouds over the cryptocurrencies’ future.

The Chinese state cryptocurrency could become another point of contention in the trade war of the world’s major economies.
If Beijing fails to make the yuan the leading global reserve “paper” currency, it may try to grasp a place in the world of digital national currencies.

https://fxpro.news/analysis-and-insight/sec-stopped-libra-and-gram-but-what-about-china-20191017/

#WaveAnalysis
#GBPAUD is expected to fall further and retest the next support level 1.8630

https://fxpro.news/market-snapshots/gbpaud-wave-analysis-17-october-2019-20191017/

Important Upcoming Events (GMT):

All Day EUR|GBP 🇪🇺🇬🇧 [!!!] EU Economic Summit
14:00 USD 🇺🇸 [!!] FOMC Member George Speaks
15:30 USD 🇺🇸 [!!] FOMC Member Clarida Speaks
17:45 GBP 🇬🇧 [!!!] BOE Governor Carney Speaks

Detailed economic calendar

Pound after Brexit: where to go

What will happen next after UK and EU agreed the Brexit deal?
It is important to note that the whole Brexit story is full of surprises and shocks.

So, it may be the hardest part of the game for Pound as the deal is yet to be approved by the UK Parliament on Saturday.

https://fxpro.news/daily-forex-outlook/pound-after-brexit-where-to-go-20191018/

#WaveAnalysis
#Brent Crude Oil is expected to rise further and retest the next resistance level 54.90

https://fxpro.news/market-snapshots/brent-crude-oil-wave-analysis-18-october-2019-20191018/

#WaveAnalysis
#NZDCAD is expected to rise further and retest the next resistance level 0.8430

https://fxpro.news/market-snapshots/nzdcad-wave-analysis-18-october-2019-20191018/

FX: The dollar decreased the 7th trading session of the last eight, dropped to a 3-month low for DXY to 96.6. GBPUSD touched levels above1.30, moving up on the news about a possible vote on the deal on Monday, adding 0.5% this morning. Asian AUD, NZD add about 0.5%. Turkish Lira is down 0.6%.

Stocks: S&P500 Futures remain at 2990, slightly changing for the 4th trading session in a row. MSCI World 3rd trading session runs around 2200. The VIX volatility index has grown somewhat from 14.1 to 13.8.

Commodities: Brent is trading at $ 58.8, almost unchanged from Thursday. Gold is trading near $ 1490, staying in a limited range.

Crypto: Bitcoin is adding 3% over last 24h, rising to $ 8,200. Top 10 altcoins mainly in the green zone.

What’s ahead: more Brexit votes, pound volatility or fully uncertainty?

The markets still faces complete uncertainty around Brexit: all options are on the table, from a second referendum to the abandonment of Brexit. All this shifts the possible surge in volatility to a later date – to the Monday or Tuesday evenings, after British lawmakers nevertheless speak out about the new Brexit deal.

https://fxpro.news/daily-forex-outlook/whats-ahead-more-brexit-votes-pound-volatility-or-fully-uncertainty-20191021/

FX: The dollar is showing growth attempts after a prolonged weakening. DXY rose to 97.0, almost unchanged in a day. GBPUSD warily rolls back from levels above 1.30 yesterday, trading near 1.2930 at the time of writing ahead of a meaningful vote in Parliament. Demand for “yielding” currencies is increasing: NZD, TRY are the leaders in growth, while CHF is losing ground.

Stocks: S&P500 Futures lost their steam after growth overnight, retreating to 3000 after touching 3013 earlier in the morning. MSCI World adds 0.6% per day. The VIX volatility index remained near 14.1.

Commodities: Brent declined overnight from $ 58.8 to $ 58.6. Gold is trading near $ 1,488, staying in a limited range.

Crypto: Bitcoin has not changed in a day, remaining at $ 8,200. The top 10 altcoins range from -0.1% (ETH) to + 13% (BSV).