Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
After Honda recently announced they were exiting the U.K. by 2021, sector analysts and U.K. government mandarins, were hoping that the slump the car manufacturing industry is obviously mired in, wouldn’t show any signs of worsening, when the latest data was published by the trade body the SMMT on Wednesday. Unfortunately, the industry reported that […]
Cable reached a seven month high during Wednesday’s afternoon trading session, after analysts and FX traders deduced that the U.K. govt. is likely to ask for a delay to Brexit, past the March 29th deadline. The chance of a no deal Brexit now looks less likely, based on the various statements and Parliamentary amendments passed
GBP/USD reaches seven month high, as investors determine no deal exit less likely Read More »
On Thursday February 28th, at 13:30pm U.K. time, the latest annualised QoQ Q4 figure for USA GDP growth will be published. According to the Reuters forecast, after they’ve recently polled their panel of leading economists, the headline GDP figure is expected to fall from 3.4% recorded in Q3, to 2.5% for Q4. Such a fall,
Japan’s yen and the USA dollar, both rose marginally versus their currency peers during the Sydney-Asian session, as two Indian warplanes were reported to have been shot down by Pakistani forces. This escalation came after India carried out incursions into Pakistan airspace on Tuesday, in order to eliminate what the Indian armed forces believed to
Yen and U.S. dollar generate safe haven appeal, as India-Pakistan tensions rise Read More »
Sterling was the major focal point in the FX markets, during Tuesday’s trading sessions, GBP/USD traded at a high not seen since September 2018, whilst EUR/GBP fell to a low not witnessed since May 2017. The reason for investors’ bullish sentiment regarding sterling, related to Mrs. May, the P.M. of the U.K. making a statement
The U.K. pound rose versus the majority of its peers from late Monday evening until Tuesday morning’s London-European trading session, as rumours circulated regarding a volte-face by the U.K. prime minister. The rumours were two fold, firstly; that Mrs. May had decided to support a delay in Brexit of two months, based on the U.K.
Risk on appetite returned to the global markets on Monday, after President Trump agreed to postpone the March 1st deadline, as the introduction date for 25% tariffs, on $200b of Chinese imports. After Chinese markets closed up between 5.5-6.5% on Monday, European equity indices failed to follow Asia’s extreme bullish lead, the FTSE closed up
Chinese equity market indices, printed fresh yearly highs across the board, during the Sydney-Asian trading sessions, as news that the Trump administration had postponed the 25% tariffs on Chinese imports, filtered through to investors. The Shanghai Composite closed the session up 5.60% and the CSI closed up 6.4%, taking the year to date gains in
Several global political issues, which are having a demonstrable impact on the global economy, could reach their nadirs, during the trading week beginning Sunday February 24th. Namely; Brexit and the China-USA trade/tariff talks. Friday March 1st is the date the Trump administration has previously set as its tariff deadline. Unless an agreement is reached by
After plunging by over one percent versus several of its peers during Thursday’s trading sessions, due to certain Chinese ports locking out the delivery of Australia’s coal, the Aussie dollar appeared to have found a capped, sell off level, during the Sydney and Asian session. At 8:50am U.K. time, AUD/USD traded close to flat at
