This morning base metals are trading down by 0.03 to 0.71 percent at LME electronic platform while the Asian equities are also trading on a weaker note. Riskier assets including base metals are mostly down on caution ahead of a meeting later in the session by the European Central Bank, which is expected to cut […]
Gold and Silver Wait on Central Banks Read More »
Yesterday, on US Independence Day with US markets closed the, EUR/GBP trading developed in thin market conditions. The price action was mostly driven by technical considerations. The final services PMI in the EMU was less negative than expected. The UK services PMI dropped to a lower than expected 51.8, but stayed above the 50 boom
Sterling and Central Bank Decisions Read More »
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 »
Chinese equities gained the most in a week after the government signaled it will delay tightening bank capital rules and investors speculated monetary policy would be eased to prevent Europe’s debt crisis from harming the economy. Further China’s biggest auto-dealer association, asked Car producers to scale back their sales targets or sweeten incentives as the
Central Banks and Crude Oil Read More »
