Imports and exports in China continued to show that a contraction in the global economy is further extending. Meanwhile, bond markets have been clearly showing now their negative expectations for a while now. However, markets are still clinging to an optimistic view with market participants now hoping for more stimulus by the world’s central banks.
Powell Disappoints
It is important to note that Federal Reserve Jerome Powell practically crushed all hopes for a 0.5% rate cut on the next [URL deleted] Fed meeting, which puts all the focus on the [URL deleted] ECB this week that may act very dovish and send the EUR further down to fresh multi-year lows.
Deal or No-Deal
In the UK, today seems to be the last chance for the parliament to avert a no-deal Brexit. PM Johnson is fighting hard to get his general election prior to the Brexit day as recent polls over the weekend suggest that he would have a landslide win in the UK which seems to show the voters want the hard stance on Brexit!
Forex Preview: AUD Edges Higher on Strong Home Loans Data
The Australian dollar edged higher today after some very robust Home Loans data early this morning while the USD continued to trade subdued after Friday's miss on the [URL deleted] NFP headline numbers. The euro held its ground slightly above the 1.10, but the ECB meeting is looming over and could expose further weakness towards the end of the week. European Central Bank policymakers are expected to deliver new stimulus to bolster a flagging regional economy on Thursday, which could push the EUR to new lows.
Oil Prices Edge Higher
Oil prices rose more than 1% this morning on expectations that Saudi Arabia, the world's largest oil exporter, will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister Prince Abdulaziz bin Salman.
Gold Holds Above $1500, BTC Tumbles
Gold prices slipped on Monday fighting with market optimism over possible stimulus but still managed to hold above the key $1500 level. Elsewhere, BTC fell below the 10.2k level and looks rather heavy suggesting a possible test of the 10k level downwards.
Watch the video here:
Powell Disappoints
It is important to note that Federal Reserve Jerome Powell practically crushed all hopes for a 0.5% rate cut on the next [URL deleted] Fed meeting, which puts all the focus on the [URL deleted] ECB this week that may act very dovish and send the EUR further down to fresh multi-year lows.
Deal or No-Deal
In the UK, today seems to be the last chance for the parliament to avert a no-deal Brexit. PM Johnson is fighting hard to get his general election prior to the Brexit day as recent polls over the weekend suggest that he would have a landslide win in the UK which seems to show the voters want the hard stance on Brexit!
Forex Preview: AUD Edges Higher on Strong Home Loans Data
The Australian dollar edged higher today after some very robust Home Loans data early this morning while the USD continued to trade subdued after Friday's miss on the [URL deleted] NFP headline numbers. The euro held its ground slightly above the 1.10, but the ECB meeting is looming over and could expose further weakness towards the end of the week. European Central Bank policymakers are expected to deliver new stimulus to bolster a flagging regional economy on Thursday, which could push the EUR to new lows.
Oil Prices Edge Higher
Oil prices rose more than 1% this morning on expectations that Saudi Arabia, the world's largest oil exporter, will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister Prince Abdulaziz bin Salman.
Gold Holds Above $1500, BTC Tumbles
Gold prices slipped on Monday fighting with market optimism over possible stimulus but still managed to hold above the key $1500 level. Elsewhere, BTC fell below the 10.2k level and looks rather heavy suggesting a possible test of the 10k level downwards.
Watch the video here:
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