Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
After enduring a sell off during the trading week ending March 8th, USA equity markets have rallied this week. The SPX closed at a four month high after three days of rises, reaching a level not seen since November 2018, whilst breaching the 2,800 critical handle, during Wednesday’s trading session. The durable goods data for […]
Sterling rose marginally, versus several of its main peers during the early part of the London-European session, as a consequence of the vote scheduled to be conducted later on Wednesday afternoon. MPs will get a chance to vote down a no deal Brexit, effectively forcing Parliament to find an alternative exit mechanism. However, there’s a
Sterling experienced modest losses during Tuesday morning’s London trading session, losses that that were accelerated, after the government’s attorney general confirmed the additional words, attached to the original withdrawal agreement, were ineffective and pointless. GPB/USD slumped by circa 200 pips, as FX traders and analysts quickly and correctly judged, that the revised motion had very
The U.K. pound continued the bullish direction it developed on Monday evening, as a consequence of the additional wording tagged onto the Brexit withdrawal agreement, which could give comfort to doubtful MPs, regarding the obstacle of the Irish backstop. The U.K. Parliament is due to vote on the revisions on Tuesday evening, at approximately 7:00pm.
The U.K. pound surged during the latter stages of the New York session, as the U.K. prime minister flew off to Strasbourg to meet with the E.U. Brexit negotiating team. Unfounded rumours had circulated around Westminster during Monday afternoon, that the E.U. had finally relented and were prepared to deliver a compromise, ensuring that the
Fears over the strength of the Japanese economy and doubts regarding its ability to weather the storm caused by China’s economy slipping, reappeared during the Asian session, as the latest machine tool orders fell sharply, whilst missing the forecast by some distance. In the month of February (YoY), the orders figure fell by -29.3%, after
At 9:30am U.K. time on Tuesday March 12th, the official U.K. statistics agency, the ONS, will reveal the latest data regarding U.K. GDP growth. The forecast from the Reuters news agency, after they’ve polled their panel of leading economists, is for the monthly GDP figure for the final quarter of 2018 to come in at
The trading week ending March 8th, finished with a shock statistic; the latest NFP jobs data for February (from the USA’s BLS), revealed that only 20,000 jobs were created during the month. The main USA equity indices sold off on the news, capping a week of losses, with all sessions, from Monday to Friday, closing
China’s authorities published desperately poor: import, export and trade balance data during the Asian trading session, leading to a significant sell off in Chinese equity markets and a rush into yen, as a safe haven option. China’s exports fell by -20.7% year on year up to February, imports fell by -5.20%, whilst the trade balance
China’s poor trade figures sends shockwaves through equity and currency markets Read More »
As widely predicted, the ECB announced on Thursday that the key interest rate would remain at 0.00%, with the deposit rate remaining locked in NIRP territory, at -0.4%. During the President of the ECB (Mario Draghi’s) press conference, he outlined how the central bank would continue to provide monetary stimulus, through subsidised investment bank lending,
