Risk aversion abounds once more

13 June, 2016

All the price action seen during the Asia session has been indicative of markets hunkering down and reducing risk. The yen is gearing up for an attack of the year’s 105.55 low on USDJPY, whilst sterling has continued the weaker tone of Friday, pushing down below the 1.42 level on cable as the Brexit vote moves ever nearer. Meanwhile, the German 10 year bond moves ever closer to the zero level, with many fingers poised over pre-prepared headlines for when it eventually happens. Gold has continued to move higher with only one (marginal) down day over the previous 6 sessions. Spot gold is currently 1.6% away from the high of the year just above the 1300 level. This is not just about the EU referendum next week, but it’s certainly a factor in dampening activity and causing investors to hold back on risk positive trades.

There are lots of central bank meetings this week, but it’s looking ever more naive to expect them to be able to lift the tone in markets. The Fed meeting be a case of parsing the statement for marginal changes in tone, with more interest falling on the BoJ decision Thursday. Given the ever more unconventional nature of policies coming from central banks in general and the BoJ in particular, it’s difficult to envisage just what will be next. This week seems less likely for fresh policy action, not least given the prevailing uncertainties around Brexit which could change the yen outlook in less than 2 weeks.


Source link  
Oil drops back into June price range

The WTI Oil price fell from $72.98 to $68.68 yesterday despite the inventories data showing a draw of -12.6M barrels which is the biggest since September 2016...

Dollar is weaker today after rejection 95.50

The USD has weakened against the majors after the DXY rejected the 95.50 level in yesterday's trading creating a technical double top and is now trading down...

Stronger IT, softer financials

Stock markets continue to strengthen with increased demand for high-tech companies. The NASDAQ100 closed a second day in a row...


USD weakens through the day yesterday

The USD weakened further overnight after the move began in the US trading session yesterday. USDJPY moved down under the 110.000 level after...

Markets Focus on US and UK GDP

UK Gross Domestic Product (QoQ) (Q1) is expected to come in at 0.3% from 0.4% previously. Gross Domestic Product (YoY) (Q1) is expected to be...

Markets Focused on ECB Interest Rate

ECB Deposit Rate Decision will be announced and is expected to remain unchanged at -0.4%. The ECB Interest Rate Decision will also be released...


Today's Focus on US Retail Sales

At 12:30 GMT, US Retail Sales (MoM) (Mar) will be released, with an expected 0.4% from -0.1% previously. Retail Sales Ex-Autos (MoM) (Mar) is expected...

Larry Kudlow - chief economic advisor

Yesterday, Larry Kudlow accepted the role of White House Chief Economic Advisor. He immediately targeted China and said that the next step...

EU leaders agree to shore up budget

EU European Council Meetings took place on Friday and EU Council President Donald Tusk made the following comments: EU leaders agreed to spend...


In the past 24 hours Bitcoin has gained 1.06% and reached $6378.5. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.5609% and is now at $1.1685. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -6.46% and is now at $453.546. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Forex Market Analysis



Forex Currencies Forecasts



Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM88%
3HYCMHYCM86%
4FIBO GroupFIBO Group79%
5FxProFxPro78%
6FXCMFXCM73%
7AvaTradeAvaTrade69%
8HotForexHotForex68%
9XMXM68%
10Alfa-ForexAlfa-Forex66%
  


Share: