•  Negative Brexit headlines continue to prompts some fresh selling around the British Pound.   •  DUP said to is said to support a proposal to make the EU’s Northern Irish backstop illegal.   •  Technical selling below the 1.3020-15 region further aggravates the selling pressure.  The GBP/USD pair kept losing ground through the mid-European session
TALKING POINTS – CANADIAN DOLLAR, AUSSIE DOLLAR, ASX 200, STOCKS, YEN Canadian Dollar retracing higher after Friday’s CPI-inspired selloff ASX 200, Aussie Dollar down as Liberals lose parliamentary majority Japanese Yen at risk as stock index futures point to risk-on sentiment Major currencies started the trading week in a consolidative mood, with a bare-bones economic
The market is easing into the week If you’re just tuning into this week’s FX market you haven’t missed much. GBP is a tad soft but we’re almost at the point of splitting hairs. If anything, I would expect a bit of euro strength when Europe rolls in because of the stable outlook from Moody’s.
Moody’s Ratings recently announced its decision to cut Italy’s rating to Baa3 while keeping the outlook stable. Key quotes (via Reuters) A key driver for downgrade of Italy’s ratings to Baa3 is a material weakening in Italy’s fiscal strength. Italy’s ratings downgrade also due to negative implications for medium-term growth of stalling of plans for
AUD/USD is trading in a bear trend below the 200-period simple moving average.  AUD/USD is currently rejecting the 0.7144 resistance and there seems little in the way for the market to test 0.7085 (September 11 low). The RSI and MACD are decelerating while the Stochastic indicator is pointing upward. A break below 0.7085 can potentially
Come to the Finance Magnates London Summit Let’s meet up in London. Register for free here. [embedded content] Attention London FX and crypto traders. I’m going to be in London on November 14 for the Finance Magnates London Summit.  This is a huge FX industry event but there is also plenty for retail traders this year.
FX Strategists at UOB Group remain neutral on spot and expect it extend the rangebound theme in the near term. Key Quotes 24-hour view: “While we highlighted yesterday “a break of 113.05 seems highly unlikely”, the sharp and rapid drop from a high of 112.72 came as a surprise. The price action suggests that USD
Chinese equities supported by verbal intervention  This was Eamonn’s comment on it on his wrap  Ahead of Chinese stock markets opening we got a concerted effort from the PBOC and the banking regulator to talk up the market, how sound the fundamentals are, all the regulatory and policy changes being implemented to make China a
CRUDE OIL & GOLD TALKING POINTS: Crude oil prices decline with stocks to test 8-month trend support Gold prices stuck as Fed-linked risk aversion drives down yields Key stock index futures hint corrective sentiment recovery on tap Crude oil prices sank amid broad-based risk aversion, with the WTI contract tracking US stock index futures downward.
China Q3 GDP data due today – preview Coming Up! Title text for next article Economic growth data for the third quarter (July to September) is due from China at 0200GMT  Q3 GDP expected is +6.6% y/y prior was +6.7% For q/q, expected 1.6%, prior 1.8% Couple of bank previews: HSBC: We expect GDP growth
Gold rebounds from 3-day lows but fails to break above $1,230/oz.  Yellow metal receives support from lower US yields amid risk aversion.  Gold climbed from $1,218/oz and peaked at $1,230 during the US session but found resistance and pulled back. As of writing was trading around $1,225 away from the highs but still on positive
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