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Real Time News
  • The future taper isn't enough to urge the Dollar to a critical bullish break. In turn, $EURUSD has reversed shy of of August's trough and keeps in play an inverse head-and-shoulders pattern with a neckline at 1.19
  • USD/CAD testing short-term moving average support. Traders have cut their long exposure over the week. Get your market update from @nickcawley1 here:
  • In the West, that qualifies as a default action. Let's see how it is treated in the world's second largest economy
  • Some Evergrande offshore bondholders do not expect company to make interest payment by Thursday deadline
  • The flash September US PMIs slowed more sharply than expected. That was a general trend across the developed world with most economies continuing to slow from their post-Pandemic peak recovery paces
  • 🇺🇸 CB Leading Index MoM (AUG) Actual: 0.9% Expected: 0.7% Previous: 0.8%
  • $SPY showing some strength, support at the 50, res at the 23.6 $SPX $ES
  • 🇺🇸 Markit Manufacturing PMI Flash (SEP) Actual: 60.5 Expected: 61.5 Previous: 61.1
  • Heads Up:🇺🇸 CB Leading Index MoM (AUG) due at 14:00 GMT (15min) Expected: 0.7% Previous: 0.9%
  • Bank of England left policy measures unchanged as expected with the Bank Rate remaining at 0.1% and gilt purchases at GBP 875bln.Get your $GBP market update from @JMcQueenFX here:
DailyFX European Market Wrap

DailyFX European Market Wrap

Katie Pilbeam,

Both the London Stock Exchange and Deutsche Boerse dropped during Monday’s European market session after the merger between the two, which had looked all but done and dusted, came into doubt.

The LSE said the deal was unlikely to be approved by the European Commission. The commission insists that the LSE sell its MTS business which it has declined to do. If the failure of the deal – which would have created Europe’s biggest stock exchange -- is officially confirmed, this will be for the third time after two previous attempts back in 2000 and 2005 – ended in failure.

Sterling was under pressure during the session after reports that Scotland could be about to call a second independence referendum. The Times newspaper reported that the British Prime Minister Teresa May is preparing for another vote. The Scottish public rejected independence by a 10-point margin in a 2014 referendum, but now that Britain is leaving the EU, another vote could be on the cards.

In other news, Persimmon reported solid earnings, which demonstrates that despite post-Brexit woes, Britain’s housing sector is in a good position thanks to a deep supply rut.

And on the continent, Eurozone confidence edged up in February, with positive views from industry and the service sector outweighing weakness among consumers and the retail area.

Europe is now looking ahead to US President Donald Trump’s speech to Congress and hoping for more details on his stimulus package.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.