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“ No formal negotiation with EU until backstop dropped.” from UK PM spokeman
British Prime Minister Boris Johnson's spokesman crossed the wires in the last minutes saying that they have been very clear that there can not be a formal negotiation with the EU until the backstop is dropped. The spokesman further announced that more information on Brexit preparations will be published in the coming weeks....
Details
UK's Corbyn: Will do everything necessary to stop disastrous no-deal
UK opposition Labour Party's leader Jeremy Corbyn crossed the wires in the last minutes reiterating that they will do everything necessary to stop a disastrous no-deal Brexit. "We will include the option to remain in the EU in any future EU referendum they hold," Corbyn added.
Earlier today, Labour Party’s Finance policy Chief and the second most powerful ma... Details
Earlier today, Labour Party’s Finance policy Chief and the second most powerful ma... Details
UK Tory MP Grieve: Will cooperate with Labour to ensure a no-deal Brexit doesn't happen
The UK Conservative rebel lawmaker Dominic Grieve was on the wires last minutes, via Reuters, noting that his party will cooperate with Labour to ensure a no-deal Brexit doesn't happen.
This comes after the UK’s opposition Labour Party’s Finance policy Chief said that their leader Corbyn is likely t... Details
This comes after the UK’s opposition Labour Party’s Finance policy Chief said that their leader Corbyn is likely t... Details
Shrinking odds for extra GBP weakness – UOB
In opinion of FX Strategists at UOB Group, further weakness in the Sterling looks unlikely for the time being.
Key Quotes
24-hour view: “While the sharp rebound from last Friday appears to be running ahead of itself, the firm underlying tone suggests there is room for the recovery to extend further. That said, the major 1.2195 resistance level is unlikely to... Details
Key Quotes
24-hour view: “While the sharp rebound from last Friday appears to be running ahead of itself, the firm underlying tone suggests there is room for the recovery to extend further. That said, the major 1.2195 resistance level is unlikely to... Details
Shrinking odds for extra GBP weakness – UOB
In opinion of FX Strategists at UOB Group, further weakness in the Sterling looks unlikely for the time being.
Key Quotes
24-hour view: “While the sharp rebound from last Friday appears to be running ahead of itself, the firm underlying tone suggests there is room for the recovery to extend further. That said, the major 1.2195 resistance level is unlikely to... Details
Key Quotes
24-hour view: “While the sharp rebound from last Friday appears to be running ahead of itself, the firm underlying tone suggests there is room for the recovery to extend further. That said, the major 1.2195 resistance level is unlikely to... Details
Eurozone Current Account Surplus Decreases In June
Eurozone's current account surplus decreased in June to its lowest level in nearly two- and-a-half years, figures from the European Central Bank showed on Monday.
The current account surplus fell to EUR 18.352 billion from EUR 30.291 billion in May.
The surplus was the lowest since January 2017, when it was EUR 18 billion.
In the 12-month period to June, the... Details
The current account surplus fell to EUR 18.352 billion from EUR 30.291 billion in May.
The surplus was the lowest since January 2017, when it was EUR 18 billion.
In the 12-month period to June, the... Details
BOE's Carney says doesn't see negative interest rates as an option at this stage
Remarks by BOE governor, Mark Carney, via Central Baking magazine
Not a big fan of changing the 2% inflation target
The interview was conducted on 1 August after the release of the central bank's inflation report. It's important to clarify that he mentions "at this stage" so that doesn't really rule out the central bank from leaning towards rate cuts movi... Details
Not a big fan of changing the 2% inflation target
The interview was conducted on 1 August after the release of the central bank's inflation report. It's important to clarify that he mentions "at this stage" so that doesn't really rule out the central bank from leaning towards rate cuts movi... Details
How Will Zero-Fee Investment Platforms Impact Traditional Stock Brokers?
Photo: Robinhood
The retail investment space is changing at an exponential pace. In times gone by, the only way to access the financial markets would be to use a conventional stock broker.
This would typically require a one-on-one telephone call, which would result in the stock broker manually pur... Details
The retail investment space is changing at an exponential pace. In times gone by, the only way to access the financial markets would be to use a conventional stock broker.
This would typically require a one-on-one telephone call, which would result in the stock broker manually pur... Details
Weekend Report Preview
The Dollar
The dollar printed a bearish reversal on Friday.
The big picture is that the dollar is very late in its timing band for a yearly cycle decline and formed a bearish weekly reversal on week 5 to set up a potential left translated weekly cycle formation. A left translated daily cycle formation would align with the dollar declining into an intermedi... Details
The dollar printed a bearish reversal on Friday.
The big picture is that the dollar is very late in its timing band for a yearly cycle decline and formed a bearish weekly reversal on week 5 to set up a potential left translated weekly cycle formation. A left translated daily cycle formation would align with the dollar declining into an intermedi... Details
Gold buyers risk losing further momentum as price breaks below 200-hour moving average
Trouble in paradise?
Gold buyers look to be exhausted at this point as price starts to fall back below the 200-hour MA (blue line) for the first time since 1 August.
Price tested the key near-term level several times since Friday but ultimately, sellers are now winning out as the dollar holds firm amid a jump higher in Treasury yields.
If sellers can ho... Details
Gold buyers look to be exhausted at this point as price starts to fall back below the 200-hour MA (blue line) for the first time since 1 August.
Price tested the key near-term level several times since Friday but ultimately, sellers are now winning out as the dollar holds firm amid a jump higher in Treasury yields.
If sellers can ho... Details
Germany may ease fiscal policy but (unfortunately) not now
Market movers today
Today, we have a light calendar where we mainly look out for the final euro area inflation figures at 11:00 CEST. The flash estimates showed overall HICP inflation at 1.1% y/y and core inflation at 0.9% y/y in July and we expect no revision of the data.
Markets will continue to carefully watch tweets and communication from the US and ... Details
Today, we have a light calendar where we mainly look out for the final euro area inflation figures at 11:00 CEST. The flash estimates showed overall HICP inflation at 1.1% y/y and core inflation at 0.9% y/y in July and we expect no revision of the data.
Markets will continue to carefully watch tweets and communication from the US and ... Details
Markets Rebound as US Recession Fears Ease
The US Dollar is mixed on Friday as risk appetite returns ahead of the weekend after a volatile week battered stock markets and drove safe havens higher. On a weekly basis the greenback will be higher against most major pairs. Stock markets rose on Friday as central banks around the globe hinted at lower rates and more stimulus and the ghost of a US recessio...
Details
Coinone’s Malta Subsidiary to Shut Crypto-Related Services Next Month
Photo: FM
CGEX, the Malta-based subsidiary of South Korean crypto exchange Coinone, is terminating its crypto trading services without mentioning any specific reasons.
According to a notice displayed on its website, the exchange will terminate all its services on September 18 at 2 am (UTC).
“Unfortunately, due to our circumstances, we decided that we cou... Details
CGEX, the Malta-based subsidiary of South Korean crypto exchange Coinone, is terminating its crypto trading services without mentioning any specific reasons.
According to a notice displayed on its website, the exchange will terminate all its services on September 18 at 2 am (UTC).
“Unfortunately, due to our circumstances, we decided that we cou... Details
CAD Weekly Forecast (Aug. 19 – 23)
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Looks like the Loonie managed to recoup some of its losses in the second half of the week. Can the bulls maintain their momentum?
Here are potential catalysts that can affect price action this week:
CPI reports (Aug 21, 1:30 pm GMT)
Consumer prices had risen by 2.... Details
Looks like the Loonie managed to recoup some of its losses in the second half of the week. Can the bulls maintain their momentum?
Here are potential catalysts that can affect price action this week:
CPI reports (Aug 21, 1:30 pm GMT)
Consumer prices had risen by 2.... Details
USD Weekly Forecast (Aug. 19 – 23)
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Here’s a list of potential market movers for the dollar. Clue: they’re not all data-related. Check it!
FOMC meeting minutes (Aug 21, 7:00 pm GMT)
As everyone and their momma expected, the Fed cut its interest rates by 25 basis points in late July, its first rate cut since 2008.
What traders didn’t expect was for two members ... Details
Here’s a list of potential market movers for the dollar. Clue: they’re not all data-related. Check it!
FOMC meeting minutes (Aug 21, 7:00 pm GMT)
As everyone and their momma expected, the Fed cut its interest rates by 25 basis points in late July, its first rate cut since 2008.
What traders didn’t expect was for two members ... Details
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