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European Open Preview – Euro crumbles after ECB; Brexit hopes lift pound

Posted on January 25, 2019 at 9:12 am GMT

Euro closes lower on soft PMIs and ‘vigilant’ Draghi Stocks struggle amid conflicting trade signals Sterling advances on fresh Brexit reports Euro caves in after PMIs sink, Draghi ‘keeps his options open’ Euro/dollar had a particularly turbulent session on Thursday, before ultimately closing lower, caving in under the weight of disappointing PMIs out of the Eurozone and cautious commentary by the ECB. The preliminary manufacturing PMIs out of both Germany and France signaled contraction, revitalizing euro-area growth concerns, while a [..]

European Open Preview – ECB meets, all eyes on Draghi; pound soars

Posted on January 24, 2019 at 8:44 am GMT

ECB decision and Eurozone PMIs will chart euro’s course today Pound soars to 11-week highs versus dollar as no-deal Brexit risk fades Aussie tumbles on mounting speculation for RBA rate cut Stocks inch higher on strong earnings, dollar rebound stalls ECB meeting & Eurozone PMIs could make-or-break euro/dollar today It will be a crucial session for European assets and the euro itself today. The European Central Bank (ECB) will announce its policy decision at 1245 GMT, which will be followed [..]

European Open Preview – Market sentiment stays fragile, but kiwi shines

Posted on January 23, 2019 at 9:21 am GMT

Risk appetite remains weak as trade and growth concerns resurface BoJ stays on hold, provides no new signals – yen yawns Kiwi outperforms as New Zealand’s inflation prints beat estimates Growth and trade woes keep investors on the defensive Market sentiment remained fragile on Tuesday, with investors cutting their exposure to riskier assets and diverting those funds into safer plays, amid resurgent worries around global growth and trade uncertainties. News that the US will proceed with the extradition of the [..]

European Open Preview – IMF adds more clouds to global outlook

Posted on January 22, 2019 at 9:23 am GMT

IMF downgrades growth forecasts; stocks feel the pinch May keeps “no-deal Brexit” scenario alive Oil reverses lower amid signs of slowing global economy Risk appetite stays bearish amid growing global growth fears Stocks in Asia had another weak session on Tuesday as pessimism about global growth kept funds away from risky assets, with Chinese equities losing more than 1%. A couple of hours after China reported its slowest quarterly economic expansion since the financial crisis and the lowest annual growth in 30 years, the International Monetary [..]

European Open Preview – Stocks extend trade gains; Brexit saga continues

Posted on January 21, 2019 at 9:08 am GMT

Reports China is willing to buy more US goods keep risk appetite buoyed Euro/dollar eyes key support area, looks to Thursday’s ECB meeting Today, focus turns back to the UK; PM May presents her alternative Brexit plan Fresh trade headlines propel stocks even higher, yen retreats US equity markets recorded another round of sizeable gains on Friday, with the likes of the S&P 500 (+1.32%) and the Dow Jones (+1.38%) establishing further distance above their respective 50-day moving averages. Meanwhile, [..]

European Open Preview – Trade hopes lift markets; pound cruises higher

Posted on January 18, 2019 at 8:45 am GMT

Stocks advance, safe-havens tumble on reports US could roll back China tariffs In the UK, sterling surges without Brexit news; sentiment is improving Today, Canadian inflation figures and Fed speakers may steal the show Stocks jump, yen softens on reports US may lift China tariffs Risk appetite firmed during the late US session on Thursday, following a WSJ report that US Treasury Secretary Mnuchin considered whether to lift the tariffs on Chinese products as a gesture of good faith during [..]

European Open Preview – May suffers Brexit defeat, can she survive no-confidence vote?

Posted on January 16, 2019 at 8:54 am GMT

Sterling recovers despite May’s Brexit defeat; no-confidence vote due today Euro inches down as ECB’s Draghi adopts an increasingly cautious bias Risk appetite stays firm; NAHB housing index today may be crucial Pound rebounds even as May suffers major defeat; no-confidence vote called British lawmakers overwhelmingly voted against PM May’s Brexit deal yesterday, with 432 rejecting the accord and 202 voting in favor, a much wider margin of defeat than rumored. The loss was so devastating that it led the [..]

European Open Preview – UK Parliament holds “meaningful vote”

Posted on January 15, 2019 at 8:56 am GMT

British lawmakers will vote on the Brexit deal today; outcome crucial for sterling In the broader market, risk aversion is abating as China outlined plans for fresh stimulus Some remarks by ECB President Draghi may also attract attention Sterling turns its sights to the long-awaited parliamentary vote The spotlight will fall on the UK today, where Parliament will vote on the government’s Brexit deal during the evening, between 1900-2100 GMT. The consensus overwhelmingly suggests a rejection and hence, the real [..]

Commodities outlook 2019: Will precious metals shine?

Posted on January 14, 2019 at 2:13 pm GMT

The commodities complex had a particularly volatile run in 2018, with flaring trade tensions, mounting concerns around slowing global growth, and a stronger US dollar being behind the abysmal performance of most commodities. In 2019, the outlook will hinge mainly on how the trade dispute plays out, with precious metals likely to perform well in case global risks remain pronounced, and the dollar soft. Plethora of market risks could keep gold in fashion Admittedly, gold had a rocky year in [..]

European Open Preview – Sterling climbs on hints of Brexit extension

Posted on January 14, 2019 at 8:58 am GMT

Sterling spikes higher, looks to parliamentary vote on Brexit deal tomorrow Risk aversion returns after Chinese trade data disappoint Euro inches lower as ECB officials strike a more concerned tone Pound outperforms on reports of Article 50 delay The British pound advanced against all its major peers on Friday, after UK media reported that the government is considering delaying the official deadline for exiting the EU on March 29, if it loses the crucial Brexit-deal vote in Parliament tomorrow. Although [..]

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