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  • Writer's picturefxmethods

POUND TUMBLE , OIL FALL 3% OVERNIGHT

FOREX

  • The pound was last at $1.2414, a big come-down from its March peaks of $1.3383. sterling was the star for all the wrong reasons. It slid 0.9% overnight to 27-month lows amid fears the UK could tumble out of the European Union with no trade deal to soften the blow.

  • The dollar was a major beneficiary at 97.381 on a basket of currencies, having risen 0.5% overnight.

  • The euro fell back to $1.1209, EUR/USD technical analysis: Oversold RSI may again respect 4-week old support-line

  • PBOC sets Yuan reference rate at 6.8827

  • USD/JPY holds toward weekly highs in opening hour of Tokyo's trade

  • USD/CAD remains on the road to recovery amid lack of fresh clues

OIL

  • Oil prices tried to steady in early trade after falling more than 3% overnight. Brent crude futures edged up 17 cents to $64.52, while U.S. crude was flat at $57.62 a barrel.

  • Brent’s daily chart shows a bearish doji reversal.

  • Daily chart indicators are biased bearish.

  • Oil risks falling to key support sat $63.75. 

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