European stocks began Thursday’s session higher, as investors gear up for the latest decision from the ECB. The central bank is predicted to maintain guidance, on the likelihood of more stimulus. Market participants will be paying close attention to the press conference, held after the Governing Council’s meeting, with President Mario Draghi expected to comment on several topics, including the state of the EU economy. Specifically, investors will closely listen to how the ECB will look at the future projections, the global risks, the TLRO's and if the central bank really has any chance of not needing to go dovish like the rest, too which could hurt the EUR.
US Markets Close Higher
US bourses closed on Wednesday as investors grew even more confident that the Federal Reserve will lower interest rates this year and on expectations that there might be a last-minute deal between Mexico and the US. This still would not remove the bigger problem in my opinion, which obviously is the situation with China which is getting worse by the day.
Forex Preview: EUR Takes a Hit
Meanwhile, the euro noted a steep fall yesterday evening as investors look ahead to the ECB meeting. The dollar has stabilised and not traded any lower because there seem to be some Fed members that rather imply patience before considering any rate cuts. The GBP is still subdued as the Brexit story continues to be anything but certain and thus is not helpful to inspire any buying interest in the pound. The yen edged up versus the dollar on Thursday as amid concerns over U.S.-Mexico talks on tariffs and immigration and broader worries over global trade hostilities which raised demand for safe-haven currencies.
Oil Prices Steady After Suffering Major Losses
Oil prices took another deep dive after the crude oil stocks showed a big build yesterday intensifying the sell-off that could push the black gold even towards the $50 mark. Oil prices steadied on Thursday morning after falling to near 5-month lows in the previous session, but sentiment remained weak as markets are under pressure from rising U.S. supply.
Gold Edges Lower, BTC Above $7,700
Gold prices steadied this morning to trade just below the 15-week high hit in the previous session, supported by trade worries and a possible U.S. rate cut. Gold noted a corrective dive yesterday as investors sought to cash in on the profits after the noble metal traded higher just a few pips shy of 2019 high. The present price is still quite high and considering the global tensions are not getting any less, buying dips in gold does look appealing. Elsewhere, BTC is currently fighting to stay above the $7,700 level and appears to be looking for a solid direction at the moment.
US Markets Close Higher
US bourses closed on Wednesday as investors grew even more confident that the Federal Reserve will lower interest rates this year and on expectations that there might be a last-minute deal between Mexico and the US. This still would not remove the bigger problem in my opinion, which obviously is the situation with China which is getting worse by the day.
Forex Preview: EUR Takes a Hit
Meanwhile, the euro noted a steep fall yesterday evening as investors look ahead to the ECB meeting. The dollar has stabilised and not traded any lower because there seem to be some Fed members that rather imply patience before considering any rate cuts. The GBP is still subdued as the Brexit story continues to be anything but certain and thus is not helpful to inspire any buying interest in the pound. The yen edged up versus the dollar on Thursday as amid concerns over U.S.-Mexico talks on tariffs and immigration and broader worries over global trade hostilities which raised demand for safe-haven currencies.
Oil Prices Steady After Suffering Major Losses
Oil prices took another deep dive after the crude oil stocks showed a big build yesterday intensifying the sell-off that could push the black gold even towards the $50 mark. Oil prices steadied on Thursday morning after falling to near 5-month lows in the previous session, but sentiment remained weak as markets are under pressure from rising U.S. supply.
Gold Edges Lower, BTC Above $7,700
Gold prices steadied this morning to trade just below the 15-week high hit in the previous session, supported by trade worries and a possible U.S. rate cut. Gold noted a corrective dive yesterday as investors sought to cash in on the profits after the noble metal traded higher just a few pips shy of 2019 high. The present price is still quite high and considering the global tensions are not getting any less, buying dips in gold does look appealing. Elsewhere, BTC is currently fighting to stay above the $7,700 level and appears to be looking for a solid direction at the moment.