Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Brexit And U.S.-China Trade Concerns Return

Published 14/10/2019, 13:16
Updated 18/05/2020, 13:00

  • At 12:30 BST, GBP was the weakest and JPY the strongest among the G10 currencies. Elsewhere, stocks were lower following Friday’s rally, gold was higher again and Bitcoin (BitfinexUSD) was flat.
  • Daily % Candles

  • The pound gave back some of the sharp gains it made at the back end of last week, when optimistic investors rushed to buy the beleaguered currency at oversold levels as hopes were raised that the EU and UK were finally reaching a Brexit agreement. However, as my colleague Fiona Cincotta noted earlier, “hopes of a resolution were dashed after EU negotiators commented that they are not getting even into the ballpark range of where they would like to be with negotiations. This gives Boris Johnson only one more week to pull the rabbit out of the hat…”
  • The euro found some mild support on the back of news Eurozone industrial production rose by an above-forecast 0.4% in August. However, China’s exports and imports shrank more than expected in September, weighing on the Aussie and Kiwi.
  • Cash Indices % Change

  • STOCKS: After a big rally last week, risk assets sold off earlier today on the back of news that China wanted more talks before signing Trump’s ‘phase one’ deal. The news sent stocks, oil and commodity dollars all lower, while safe haven gold and yen gained ground. This comes after the US and China agreed on outlines of a partial trade accord on Friday. US President Donald Trump said he and China’s Xi Jinping could sign the deal as soon as next month. However, today’s news that China wants more talks certainly raises a few questions – enough to scare investors a little.
  • There are no major economic data scheduled for release from North America, where the Americans are celebrating Columbus Day and Canadians are observing Thanksgiving.
  • Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

    Original Post

    Latest comments

    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.