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Day: June 20, 2018
June 202018
EUR/USD Recovers After Diving Intraday
EUR/USD fell intraday during the current trading session but managed to bounce by now. The currency pair was under influence of various factors, including US tariffs and planned retaliation to them from the European Union, the speech of European Central Bank President Mario Draghi, and the positive surprise from the German Producer Price Index. As for US macroeconomic data, it was mixed. Current account balance logged a deficit of $124.1 billion in Q1 […]
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June 202018
US-China Trade War: An Inevitable Conflict and The Impact on Equities, FX
US-China Trade War Talking Points: Was the US-China trade war inevitable? What is the most likely outcome of this global trade war? What will be the impact to US and China’s trade and economies respectively? How will the US-China trade war impact equities, Yuan, Dollar & safe-haven currencies? China vs USA: The Rising Competitor to […]
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June 202018
Fed, ECB, BoJ, RBA Leaders Weigh in on Trade Policy Risk at Sintra Conference
Talking Points: The central bank officials shared similar concerns regarding the impact of trade wars Trade policy’s effect on monetary policy uncertain at this time according to ECB’s Draghi Together, the central bankers set policy for more than a third of the world’s economy Stay up to date with important economic data with our Economic […]
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June 202018
Asia AM Digest: May Wins Brexit Vote, NZD May Fall on GDP Data
Current Developments – Central Bank Conference, May Wins Brexit Vote A lack of key economic updates had FX traders eyeing the central bank conference in Sintra, Portugal. There, governors and presidents shared similar concerns on the impact of trade wars on investment. Fed Chair Jerome Powell repeated the case for gradual rate increases. However, he […]
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June 202018
Great Britain Pound Strong Ahead of Thursday’s Policy Decision
The Great Britain pound rose against its major rivals today ahead of tomorrow’s monetary policy decision. Today’s domestic macroeconomic data was positive to the currency. The Confederation of British Industry released its Industrial Trend Survey today, showing that the balance of industrial order expectations improved to +13% in June from -3% in May, beating the median forecast of just +1%. Tomorrow, the Bank of England will announce its decision regarding […]
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June 202018
EUR/USD Recovers After Diving Intraday
EUR/USD fell intraday during the current trading session but managed to bounce by now. The currency pair was under influence of various factors, including US tariffs and planned retaliation to them from the European Union, the speech of European Central Bank President Mario Draghi, and the positive surprise from the German Producer Price Index. As for US macroeconomic data, it was mixed. Current account balance logged a deficit of $124.1 billion in Q1 […]
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June 202018
Cryptocurrency Webinar: The Calm Before the Storm?
Cryptocurrency News and Talking Points – The SEC has said that Bitcoin and Ethereum are not securities but a raft of ICOs may be. – Another Korean exchange hack shows security standards are still lagging. IG Client Sentimentshows how clients are currently positioned in a wide range of cryptocurrencies and how positioning has changed over […]
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June 202018
US AM Digest: GBP Dictated by Brexit Risks, EUR Subdued as ECB Fret Over Trade War Concerns
US Market Snapshot via IG: DJIA 0.4%, Nasdaq 100 0.25%, S&P 500 0.25% Major Headlines ECB fret over looming trade war – sources OPEC remain confident that an agreement will be reached, despite Iranian defiance CAD: Widening interest rate differentials between US and Canadian bond spreads continue to weigh on the Canadian Dollar, which hovers […]
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June 202018
Australian Dollar Attempts to Rally, Loses Gains Later
The Australian dollar attempted to rally today as markets were digesting the news about escalation of the trade war between the United States and China. By now, though, the currency has lost most of its gains and is trading near the opening level. Domestic macroeconomic data was unhelpful to the Aussie. The WestpacâMelbourne Institute Leading Index fell 0.2% in May after rising at the same rate in April. The report said: The Leading Index points to slowing growth […]
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June 202018
Euro Trades Lower Against US Dollar on Jawboning by ECB Members
The euro today traded slightly lower against the US dollar following comments by some members of the European Central Bank‘s governing council. The dovish comments by Ewald Nowotny and Villeroy triggered a knee-jerk reaction by the EUR/USD currency pair, which headed lower. The EUR/USD currency pair today declined from a high of 1.1592 to a low of 1.1538 in the mid-European session following the dovish comments. The release of the German producer price index for May by the Federal Statistical Office […]
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