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  • The Indian Rupee has been rising despite a surge in local Covid cases, owing to rising yields amid a temporary flood of US Dollars into the banking system. INR remains at risk, eyeing CPI data. Get your market update from @ddubrovskyFX here:https://t.co/6r7hahVtx4 https://t.co/a0z46Q0Mn4
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/tnF1RME8gJ
  • Top event risk on my radar for the week ahead: Musk on SNL (Sat); run of Fed speak with Brainard, Williams, Bostic (Tues); US CPI and UK GDP (Wed); Mexico central bank rate decision (Thur); US earnings - PLTR, BABA, ABNB, DASH, DIS (Tues-Thur). What are you watching?
  • It starts. This man is living the life. https://t.co/YhD4oMNAFG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.82% 🇦🇺AUD: 0.77% 🇨🇭CHF: 0.75% 🇳🇿NZD: 0.62% 🇯🇵JPY: 0.46% 🇨🇦CAD: 0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/j5I6Gut0CR
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.33%, while traders in Wall Street are at opposite extremes with 77.43%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/IrlL0LEJe3
  • Fresh projections coming out of the Bank of England (BoE) instills an improved outlook for the $GBP. Get your market update from @DavidJSong here:https://t.co/BNicSsCTZG https://t.co/2tjCVIx1Vp
  • Gold Price Forecast: Gold Bulls Re-Ignite Big-Picture Bullish Trend https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/05/07/gold-price-forecast-gold-bulls-re-ignite-big-picture-bullish-trend.html $Gold https://t.co/TaJCgg0w0T
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.24% Germany 30: 0.17% FTSE 100: 0.17% Wall Street: 0.01% US 500: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WlYaH7FiDo
DailyFX European Market Wrap: Trump's Speech Soothes European Equities

DailyFX European Market Wrap: Trump's Speech Soothes European Equities

Katie Pilbeam,

US President Donald Trump’s speech provides calm for European markets. Despite a lack of detail, Trump still said that he wants to boost the U.S. economy with tax cuts, overhaul the Affordable Care Act and ramp up infrastructure. And the tone of the delivery of the speech was very different to his past performances – which have at times rattled the markets.

British media giant ITV gained after announcing a £200m special dividend with its annual results. This is despite reporting a 14% fall in annual pre-tax profits to £553m as advertising revenues declined by 3%. The broadcaster blamed "wider political and economic uncertainty" for the advertising falls.

Growth in the UK manufacturing sector slowed more than expected in February. The decline in the index came as growth in new orders slowed and backlogs of work fell back. However, the survey also found that almost 50% of manufacturers expect output to be higher in a year's time, compared to only 6% anticipating a decline.

Also in Britain, retail tycoon Sir Philip Green has agreed to pay £363 into the BHS pension fund. And other UK data showed mortgage approvals continue rising. Euro-Zone factories grew at their fastest rate for 70 months in February. The weaker euro is helping to boost demand for exports, and also helping drive inflation higher; German CPI crossed +2% in February.

Looking ahead, preliminary February Euro-Zone CPI data is due on Thursday, as are the Q4 Canadian GDP figures and the February Japanese National CPI report.

--- Written by Katie Pilbeam, DailyFX

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

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