The pound held onto the bulk of Tuesday’s downside yesterday, dipping below 1.31 before finding a base at around 1.3070. Limited reaction was observed in light of UK inflation metrics, in which headline CPI modestly topped forecasts ahead of the BoE’s monetary policy update today.
Global Markets: Asian Stock Markets : Nikkei down 0.55%, Shanghai Composite down 0.20%, Hang Seng down 0.18%, ASX up 0.06% Commodities : Gold at $1481.25 (+0.04%), Silver at $17.09 (+0.09%), Brent Oil at $65.77 (-0.50%), WTI Oil at $60.44 (-0.71%) Rates : US 10-year yield at 1.875, UK 10-year yield at 0.764, Germany 10-year yield … Continue reading Wednesday 18th December: Markets skeptical as no-deal Brexit chances resurface
Europe’s single currency concluded Tuesday mixed against the greenback, after failing to sustain gains north of November’s opening level at 1.1156. As evident from the H4 timeframe this morning, traders are left with a shooting star candlestick pattern , which could entice selling towards nearby trend line support, extended from the low 1.0981.
Global Markets: Asian Stock Markets : Nikkei up 0.47%, Shanghai Composite up 1.27%, Hang Seng up 1.06%, ASX down 0.04% Commodities : Gold at $1481.65 (+0.08%), Silver at $17.12 (+0.05%), Brent Oil at $65.42 (+0.12%), WTI Oil at $60.17 (+0.05%) Rates : US 10-year yield at 1.861, UK 10-year yield at 0.821, Germany 10-year yield … Continue reading Tuesday 17th December: Santa comes early to Asian markets
Sterling’s post-UK election faded after a fleeting expedition north of 1.34 vs. the buck Monday. Weighed by disappointing preliminary PMIs for December, particularly in the manufacturing sector, and reports UK PM Boris Johnson plans law change to block a further Brexit delay
