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In the Zone
- EURAUD
- EURNZD
- GBPAUD
- GBPNZD
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Today's News Headlines
- Yesterday saw the beginning of the end of an era in German politics as Angela Merkel confirmed that she would not seek re-election for either the CDU chair or for Chancellor post 2021.
Market Recap
Yesterday was yet another rollercoaster ride, as the volatility in equity markets continues to move the financial markets. The US markets started the day with a brief rally but was quickly overturned by big headlines. Firstly, the UK talked about a digital tax on tech heavyweights which put pressure on the Nasdaq, the US equity markets did bounce into the close but it was not convincing.
Despite tighter budget forecasts, cable was under some pressure with the market looking for something more to provide stimulus – the focus however was paying down debt and the pound slid by about 60 pips.
Rumours that the EUR would be sold off on the back of USD tax repatriation today didn’t materialize in the market as the EUR traded near 1.1390 for the day. These are crazy days in the market and so it is important to practice good risk management principals.
Important Economic Data Due Today
16:00 USD CB Consumer Confidence
Consensus: 136.3
Effect: Higher than expected is good for the USD
21:30 CAD BOC Poloz Speaks
Consensus: None
Effect: More hawkish than expected is good for the CAD
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