Risk aversion abounds once more

June 13, 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.

Publication source
FxPro information  FxPro reviews

October 26, 2016
Revealed a larger than expected consumer confidence drop to 98.6
Asian stock markets are mostly down, with Japan a notable outperforming (closing up and indices holding on to modest gains as the Yen continued to decline against the Dollar...
October 26, 2016
AUD gains on better than expected CPI numbers
The Australian Bureau of Statistics released the consumer price index data for the third quarter. Official records showed that CPI advanced 1.3% on the year in the third quarter of 2016...
October 25, 2016
US flash Markit PMI jumped 1.7 points to 53.2 in October
Asian stock markets are mostly down, as the positive confidence indicators out of Europe and the U.S. yesterday were overshadowed by weak GDP numbers from South Korea, which weighed on most markets. Topix and Nikkei outperformed, with a weaker Yen underpinning exporters...

FOREX.com Rating
Orbex Rating
Fort Financial Services Rating
XM Rating
FIBO Group Rating
Larson&Holz IT Ltd Rating

Porter Finance Rating
Grand Option Rating
Binary Brokerz Rating
IQ Option Rating
24option Rating
365BinaryOption Rating