Day: July 3, 2018

July 3
2018

Crude Price Falls On Saudi Arabia Production Increase, CAD Follows

Talking Points: Saudi Arabia has expressed readiness to use spare production capacity to maintain market balance. There are also unconfirmed reports of the US using its strategic reserves to send oil lower. The Canadian Dollar fell following the news, bucking a recent move higher versus the US Dollar. Stay up to date with important economic […]

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July 3
2018

GBP to Rise as UK Construction PMI Hits Highest Level Since November 2017

GBP Analysis and News The UK construction PMI higher than expected in June, as was Monday’s PMI for the UK manufacturing sector. This adds to evidence that Q1 weakness was temporary boosting the case for a near term rate hike. Construction PMI Recovery Continues The UK construction PMI reading accelerated to its highest level since […]

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July 3
2018

EUR Downside Beckons Despite German Coalition Deal

EUR price, news and analysis: – The Euro has made little progress despite an immigration deal between German Chancellor Angela Merkel’s CDU and its Bavarian sister party the CSU. – That suggests it could ease further, with trendline support for EURUSD in danger of breaking. Our trading forecasts for Q3 have just been published; you […]

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July 3
2018

Yuan Declines to Persist Despite PBoC Intervention

Yuan Analysis and Talking Points PBoC finally stepped in to support the Yuan Yuan declines will likely continue ahead of US tariffs Latest trading forecasts for Q3 have just been published; check them out here Yuan Devaluation? Over the past month, the Chinese Yuan has fallen at a rapid rate amid the backdrop of a […]

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July 3
2018

Market Sentiment Holds Up Despite Trade War Worries | Webinar

Market sentiment news and analysis: – So far, concerns about trade wars, German politics, rising oil prices and Brexit have had little negative impact on trader confidence. – There has been a limited flow of money into the safe havens, and ‘risk on’ assets are holding up well. Our trading forecasts for Q3 have just […]

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July 3
2018

US AM Digest: Market Jitters and Yuan Selling Halted by PBoC Verbal Intervention

US Market Snapshot via IG: DJIA 0.6%, Nasdaq 100 0.5%, S&P 500 0.4% Major Headlines CSU and CDU agree migration deal, however, SPD have rejected the proposal PBoC Verbal Intervention curbs Yuan decline UK Construction PMI rises to highest level in 7 months RBA stand pat on interest rates at 1.5% AUD: The RBA kept […]

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July 3
2018

British Pound Rallies Higher on Upbeat UK Construction PMI Data

The Sterling pound today rallied higher against the US dollar following the release of upbeat Markit/CIPS UK Construction PMI data in the early European session. The pound’s rally drove the GBP/USD currency pair higher even as uncertainty loomed over the Brexit negotiations. The GBP/USD currency pair today rallied from a low of 1.3114 to a high of 1.3207, but was on a downtrend at the time of writing. The currency pair rallied higher after the release of the Markit/CIPS UK […]

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July 3
2018

British Pound Rallies Higher on Upbeat UK Construction PMI Data

The Sterling pound today rallied higher against the US dollar following the release of upbeat Markit/CIPS UK Construction PMI data in the early European session. The pound’s rally drove the GBP/USD currency pair higher even as uncertainty loomed over the Brexit negotiations. The GBP/USD currency pair today rallied from a low of 1.3114 to a high of 1.3207, but was on a downtrend at the time of writing. The currency pair rallied higher after the release of the Markit/CIPS UK […]

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July 3
2018

Trade Worries Still Weigh On Asian Stock As Tariff Deadline Looms

ASIAN STOCKS TALKING POINTS: Asian stocks were mixed yet again on Tuesday A lack of local economic data is keeping investors focus on trade spats The US Dollar was lower against the Euro as Germany’s latest political problem appeared to be resolved Get trading hints and join our analysts for live coverage of all major […]

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July 3
2018

Lopez Obrador Declares Victory in Mexican Presidential Election, Peso Falls

Talking Points: The left-wing president claimed about 53% of votes in the election, offering a strong defeat to rivals Obrador has been critical of US President Donald Trump as relations remain strained between nations The ex-Mexico City mayor has pledged to tackle the ‘evil’ of corruption Stay up to date with important economic data with […]

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