Markets on Edge

5 September, 2017

With the markets risk appetite dampened after North Korea’s most powerful nuclear test to date, USD and Global equities fell whilst Gold, Yen and Sovereign Bonds all rose. President Trump is supposedly weighing economic sanctions that could target China as a result of Pyongyang’s recent nuclear test on Sunday. Asia Business Daily reported on Tuesday that there is a high chance North Korea will fire an ICBM missile before the Sept. 9 foundation day after the Pyongyang regime started moving such a weapon. The US is calling for further sanctions against the regime whilst the US Ambassador to the UN says Pyongyang is ‘begging for war’. The markets expect more rhetoric to follow.

With the US Labor Day Holiday markets were somewhat lethargic, as expectations grew for hints of economic growth following a plethora of Central Bankers speaking this week. The ECB is scheduled to meet on Thursday, but the markets are not expecting the ECB to tighten economic policy any time soon. They are, however, expecting to hear ECB President Draghi raise concerns over EUR recent strengthening. Several FOMC members are speaking today and, again, the markets will be listening acutely to determine when the US may hike rates.

EURUSD remains little changed overnight, currently trading around 1.1905.

USDJPY has gained based on risk aversion due to Japan being the world’s largest creditor nation. Currently, USDJPY is trading around 109.30.

GBPUSD is also little changed overnight, currently trading around 1.2930.

Gold is trading close to an 11-month high, as markets move to the traditional safe-haven. Currently, Gold is trading around $1,336.50.

WTI has gained slightly overnight to currently trade around $47.75pb.

Markit Economics will be releasing several European Country’s PMI for August:

At 08:15 BST, Spain Services PMI expected 56.8 from the previous 57.6.

At 08:45 BST, Italy Services PMI expected 55.7from the previous 56.3.

At 08:50 BST, France Services PMI expected 55.5 from the previous 55.5.

At 08:55 BST, Germany Services PMI expected 53.4 from the previous 53.4.

At 09:00 BST, Eurozone Services PMI expected 54.9 from the previous 54.9.

At 09:30 BST, United Kingdom Services PMI expected 53.5 from the previous 53.8.

Central Bankers are scheduled to speak:

At 10:10 BST, Phillip Lowe, Governor of the Reserve Bank of Australia is scheduled to speak.

At 13:00 BST, FOMC Member Brainard is scheduled to speak.

At 15:00, the US Census Bureau will release Factory Orders (MoM) for July. The previous strong reading of 3% is not expected to be met with the consensus for this release expected around -3.2%.

At 18:10 BST, FOMC Member Kashkari is scheduled to speak.

At 23:05 BST, FOMC Member Kaplan is scheduled to speak.


Source link  
Profit-taking after big sell-off

There is a demand for profit-taking in the markets after powerful movements at the end of last week and a very aggressive trading start...

Hot August for currency markets

This August seems hot. Not only temperature but also currency market volatility is rising. The period of active vacations, which is accompanied by a decrease in volumes...

Dollar is close to its important levels

The demand for dollar, provoked by the fears of new US sanctions against a number of countries and expanding trade conflict with China push the American currency close...


Trump raises stakes in the trade war

Two opposite trends prevail in the global markets. Strong reporting of companies, including Apple indicators supports the demand in world...

USD grows on high GDP expectations

The single currency is traded near weekly lows against the dollar, getting under pressure after maintaining the soft tone of the ECB during the regular meeting...

Facebook failure obscured optimism

Yesterday the markets enjoyed a rare portion of good news on international trade. Trump and Juncker agreed not to introduce new tariffs for the period of negotiations...


Trump tosses dollar from highs

The dollar remained under pressure after the Trump's criticism about the strengthening of the national currency. Despite doubts that the influence of the president...

Oil hits 3-month lows

On Monday, the dynamics of oil was in the spotlight on a combination of negative factors by both the potential demand and the supply part. Asian markets...

Fed Monetary Policy Report to be released

This report is release twice a year and provides an insight into the conduct of monetary policy and economic developments and prospects for the future for the...


In the past 24 hours Bitcoin has lost -4.78% and reached $6062.5448469. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.6984% and is now at $1.1407. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -36.73% and is now at $257.393180649. 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
1easyMarketseasyMarkets89%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro80%
5FIBO GroupFIBO Group78%
6FXCMFXCM73%
7AvaTradeAvaTrade67%
8HotForexHotForex67%
9Alfa-ForexAlfa-Forex66%
10XMXM66%
  


Share: