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Market Insight Commentary – Forex
Today's News Headlines
- Comments out of the BOE are suggesting that the UK are ready to pull the plug on monetary stimulus. Whilst the data supports that view, I find it hard to believe that it will happen before the finalization of Brexit.
Market Insight Commentary – Indices
Market Recap
Last week was dominated by a global run on the equity markets as the market remain a little scared heading into the Easter Break. There was a lot to consider as there were major catalysts, the big one for equity traders was that Facebook data was breached, it seems as though there was not major data stolen but it just serves as confirmation how vulnerable the global community is in this digital age.
The Fed, as expected, also tightened rates by 0.25% and although they kept the 2018 dot path on hold, they did raise the 2019 rate path which I think is still up for debate. They increased growth, inflation and lowered employment projections which does suggest a healthy economy and modest inflation.
There is also the drama around tariffs, the US exempted a number of countries from the steel and aluminium tariff that was announced a couple of weeks ago. They also at the same time announced 50B of tariffs on China, China will in all likely retaliate against the US and don’t be surprised if they sell US treasuries this week as a start.
This for me remains to be the risk leading into the week – a trade war! Donald Trump is at the centre of that risk and by attacking China, I am convinced that he is merely entering a battle he can’t win.
Important Economic Data Due Today
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