|Day's Range||1.251 - 1.256|
|52 Week Range||1.2481 - 1.3360|
The euro was lower against the U.S. dollar on Tuesday, as U.S. President Donald Trump continued to put pressure on the Federal Reserve to ease rates by criticizing the European Central Bank. Trump slammed ECB President Mario Draghi, who earlier in the day hinted at more stimulus money and rate cuts in the if the eurozone economy does not improve. The president has been urging the Fed to cut rates, which have risen from 0% to 2.5% in the last three years.
LONDON MARKETS London markets rose as European Central Bank President Mario Draghi promised stimulus if economic conditions didn’t improve. How did markets perform? The U.K.’s FTSE 100 (UK:UKX) was up 0.
EUROPE MARKETS European markets shot higher as European Central Bank President Mario Draghi promised stimulus if economic conditions didn’t improve. How did markets perform? The Stoxx 600 (XX:SXXP) leapt 0.
After falling for four consecutive sessions, GBP/USD is trading at levels not seen since early January. The pair has been mostly consolidating sideways in early European trading while the dollar is catching a bid.
The pound has dipped to the $1.25 mark—the weakest since the beginning of the year—as traders grapple with uncertainty over the Conservative leadership contest and the possibility of both a no-deal Brexit and a U.K. general election.
The mood across financial markets is set to remain cautious as investors find comfort on the sidelines ahead of several major central bank decisions over the coming days.
The RBA talks of further rate cuts as the UK Tory Party Leadership race heats up. Stats out of the Eurozone will also be relevant later this morning.
Investing.com - The British pound fell to five-and-a-half month lows on Tuesday in Asia as fears over the threat of a no-deal Brexit resurfaced.
The USD Index started losing shine after the release of the June NY Empire State Manufacturing Index. Cable remained fragile throughout the day as Britishers continued to fear over a Hard Brexit.
Based on the current price at 97.020, the direction of the September U.S. Dollar Index into the close is likely to be determined by trader reaction to the Fibonacci level at 97.020.
Tensions are running high across the pond as the highly anticipated Fed rate cuts loom over what has already been a testing time for the USD.
The British pound rallied slightly during the trading session on Monday, as we continue to see a bit of noise around the 1.26 handle. Beyond that, there is plenty of support underneath, so it looks as if we are trying to find the floor here.
The Tory Party leadership race goes into its last week. Boris Johnson remains favorite going into tomorrow’s ballot. Does that mean no-deal?
LONDON MARKETS European markets were unusually calm Monday as investors contemplated whether central banks would save them from the impacts of the continuing U.S.-China trade battle. How did markets perform? The Stoxx 600 (XX:SXXP) was flat at 378.
The U.S. dollar fell on Monday after manufacturing activity in the New York area fell to a two-and-a-half year low in June, while other currencies remained quite ahead of a flurry of central bank meetings. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.1% to 96.935 by 11:25 AM ET (15:25 GMT). Data on Monday showed that manufacturing activity in the New York region posted a record drop in June, as economic activity in the area contracts.
EUROPE MARKETS European markets were unusually calm Monday as investors contemplated whether central banks would save them from the impacts of the continuing U.S.-China trade battle. How did markets perform? The Stoxx 600 (XX:SXXP) was flat at 378.
The British pound pulled back a bit during the trading session on Friday before bouncing slightly. At this point, it looks as if the market is trying to form some type of base, so approaching the market as such could be beneficial.
London markets fell into negative territory as China industrial production figures disappointed, fueling fears of a global economic slowdown
It’s a litmus test for the U.S economy today. Retail sales and consumer sentiment figures will give the FED an idea of how consumers really feel.
Investing.com -- The dollar was lower against the yen and euro early Friday in Europe but higher against risk proxies such as the Aussie dollar as traders shunned risk ahead of a weekend set to be marked by geopolitical tensions.
Oil prices rose around 3.8% in the early hours as two Saudi Oilers got attacked in the Gulf of Oman. Cable down as Brexit Hardliner Boris won the first ballot. Weak Jobless Claims strengthened rate cut hopes.
London markets were led by major oil companies as benchmarks jumped on news of an incident involving two oil tankers near the Strait of Hormuz. The pound (GBPUSD) ticked down 0.1% to $1.2674. Analysis in the FT suggested traders appear to be shrugging off potential stimulus by the European Central Bank, as neither the euro nor bond yields reacted as expected to last week’s dovish talk at the ECB meeting.
Europe markets were lifted by rising oil prices sparked by news of an incident involving two oil tankers near the Strait of Hormuz. The U.K.’s FTSE 100 (UK:UKX) also edged up 0.2%, following Wednesday’s 0.4% decline.