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In the Zone
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Market Insight Commentary – Forex
Today's News Headlines
- Oil has been somewhat tricky to trade of late – OPEC meets at the end of the week and I wouldn’t be surprised if we see supportive talk come out of that meeting.
Market Insight Commentary – Indices
Market Recap
Once again we had a light day with little economic releases, the market mover continues to be the Trump factor. The game of poker between Trump and China is trade war developments continues to move markets – after China raised there retaliation to $50B to match the US, Trump raised the stakes to $200B. China can’t see the full lot as the only receive $130B in US imports but they can impose qualitative measure like regulation, reduced expansion and consumer boycott – oh the joys.
The financial markets have a way of dealing with these things in their stride, and the lack of movement in the equity markets suggest that they are starting to ignore this story. The currency markets are still feeling the flow though as currency moves into safe havens like JPY and CHF.
The current geopolitical landscape scares me somewhat but there are a lot of technical trades setting up in the currency market – all of which we cover in the FX market.
Important Economic Data Due Today
14:30 AUD RBA Governor Lowe Speaks
Consensus: None
Effect: More hawkish than expected is good for the AUD
14:30 EUR ECB President Draghi Speaks
Consensus: None
Effect: More hawkish than expected is good for the EUR
14:30 USD Fed Chair Powell Speaks
Consensus: None
Effect: More hawkish than expected is good for the USD
14:30 BOJ BOJ Governor Kuroda Speaks
Consensus: None
Effect: More hawkish than expected is good for the JPY
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