Yesterday, trading in the EUR/GBP cross rate was confined to a tight sideways trading range around the 0.8020 pivot. Monday’s correction of the euro had halted, but there was no appetite/news to send the single currency higher. The UK data neither provided any clear guidance. Contrary to the manufacturing measure on Monday, the construction PMI […]
The EUR/GBP prepares for the Battle of the Central Banks Read More »
With US markets closed today for the Independence Day holiday, trading is expected to be light during the European session and then quiet the rest of the day. There is little in the way of eco data from around the globe. Commodity markets closed higher for the second time in 3-days, with oil prices leading
Gold – Silver – Crude Oil and Gas on the Holiday Read More »
Markets are trading fairly flat with Wall Street closed for the US holiday and the height of vacation season in the US and European participants tentative after the huge moves on Friday. EURUSD has crept back to the 1.25-1.26 range that it inhabited during the week leading into the EU summit. The Canadian dollar is
FXCC Market Review July 4 2012 Read More »
On Tuesday morning base metals are trading up by 0.2 to 1.2 percent at LME electronic platform. Asian equities are also trading up by 0.4 to 1.6 percent as early morning the Chinese non-manufacturing PMI increased more than expectation supporting gains in riskier assets coupled with gains in western markets. As expected, the Euro-Summit after
Metals and Markets in the Morning Read More »
The US markets ended mixed after witnessing a lack of direction over the course of the trading day on Monday. The choppy trading on Wall Street came as traders expressed uncertainty about the near term outlook for the markets following last Friday’s rally. Light trading activity ahead of the Independence Day holiday also contributed to
FXCC Market Review July 3 2012 Read More »
Chinese HSBC manufacturing contracted to the lowest level in the last seven months. Base metals surrendering part of its 4-percent gain, after data at the weekend showed a factory slump in Asia’s two biggest exporters, China and Japan, had deepened in June. The decline in purchasing managers index fanned concerns over demand for base metals
Commodities and Currencies Kick Off July Read More »
European markets will be fixated on the aftermath of the EU Summit and how it plays out in key central bank decisions. The ECB is expected to cut by 25-50bps on Thursday, and the BoE is expected to increase the scale of its asset purchase program by £50B to £375B. Neither are shoe-ins, and are
Market Review July 2 2012 Read More »
Gold fell to the lowest level in almost 4-weeks amid signs of slowing US growth while dollar gained on speculation that European Union leaders will struggle to solve the debt crisis. Gold has lost its safe haven title as investors begin to move into the risk markets. Although risk aversion remains the theme with no
Energy and Metals Review Read More »
The market may open on a firm note, tracking higher Asian shares. US futures have gained. Asian shares surged on Friday, 29 June 2012, after a late Thursday night meeting of European leaders came up with a plan for a single financial supervisory mechanism for the European region to help stabilize markets. European Commission President
Market Review June 29 2012 Read More »
On Wednesday, trading in the major sterling cross rates, including in EUR/GBP, was far less animated than was the case over the previous days. Initially, sterling held near the recent highs against the single currency, but there were no additional gains. The UK data were mixed. The BBA loans for home purchases were weaker than
The GBP Doesnt Measure Up Against the Euro Read More »
