Moving on from G20

29 February, 2016

The weekend meeting of G20 finance ministers and central bank governors created a lot of noise, but little in the way of consensus regarding the way ahead or on policy action. That was to be expected really. It’s hard to get 20 countries to agree on anything at the best of times, but when there are so many differing challenges facing the world, then it was never the case that they were going to come up with a solution at this weekend’s meeting in China. On exchange rates, they included the bland statement that they would “consult closely on exchange markets”. This language was not included in the last G20 statement back in September, so one could regard it as a shift, or rather a bland acknowledgement that will not lead to anything. The latter seems a lot more likely. We’ve seen the biggest move on the yen overnight, with USDJPY moving from 114.00 to 113.00 as the impression given is that the BoJ can do little more to impact the currency.

For today, we’ve got the initial estimate of February CPI data at 10:00 GMT, with the headline rate seen falling to 0.0% YoY, from the 0.3% reading seen in January. In essence, the remaining data is unlikely to rock the boat. It is the last trading day of what has been a very volatile month for many markets, so this in itself could make for a more volatile trading day than usual. The US employment report takes centre stage at the end of the week, although note that Japan labour market data is released overnight tonight, with initial and final PMI data being released for many countries tomorrow.


Source link  
Trump wants a further $200 Billion of tariffs

While there was risk yesterday from Central Bankers very little was said to move the market. Instead the Trade War narrative boiled up again with the latest...

Oil down over 4% from Friday's open

OPEC and non- OPEC members are meeting in Vienna on Thursday for the start of a 3 day summit where production cuts are on the agenda...

ECB sparks huge moves in the Euro

The ECB dominated markets yesterday as they shifted their policy stance and signalled their exit from QE. The Bank is looking to reduce its bond buying by...


FOMC meeting results in a weaker dollar

The FOMC raised rates by 0.25 bps yesterday evening to a 1.75% to 2.00% target range in a hawkish move and reaffirmed its expected forecast of 2 more...

Progress made between Trump & Kim

US President Trump and North Korean Leader Kin Jong Un met in Singapore overnight. Progress was made between the two leaders during this first meeting...

Poor British statistics presses on sterling

Britain's statistics continue to indicate a slowdown in the UK economy. Today's data showed a decline in industrial production by 0.8% during April against...


Markets pause in anticipation

Yesterday's trading session saw a rotation from the NASDAQ and Tech into the Dow Jones and Industrials. The European Indices have under preformed this week...

RBA leaves rates at on hold 1.50%

Yesterday's session was quite after a pickup in volatility last week and there has been little in the way of movement overnight. This is despite some negative...

Inflation threats troubling markets

On Thursday the markets failed to develop growth momentum. Investors favoured a cautious tone towards riskier assets as the US imposed import tariffs on Canada...


In the past 24 hours Bitcoin has lost -1.28% and reached $6643.73. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.9545% and is now at $1.164. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 5.49% and is now at $522.72. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets88%
2FXTMFXTM87%
3HYCMHYCM85%
4FIBO GroupFIBO Group80%
5FxProFxPro77%
6FXCMFXCM74%
7Alfa-ForexAlfa-Forex72%
8HotForexHotForex71%
9FP MarketsFP Markets70%
10XMXM69%
  


Share: