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Breaking news

Bank of England Tapers QE Purchases, leaves Bank Rate & APF Target Unchanged

Real Time News
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.61% 🇨🇭CHF: 0.53% 🇪🇺EUR: 0.50% 🇯🇵JPY: 0.12% 🇳🇿NZD: -0.02% 🇬🇧GBP: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/G1tbmnQXlH
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.19% Wall Street: 0.12% France 40: 0.02% Germany 30: -0.16% US 500: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7TV6gNkFhX
  • The Dollar's drop was not as clean against all of its major counterparts, but the $DXY's trade weighting translated EURUSD's rally into a bearish wedge break here. That said, this still qualifies as an inverse head-and-shoulders pattern https://t.co/FNg92kAOfP
  • IMF says downside risks are materializing in India $USDINR #NIFTY50
  • Dallas Fed's Kaplan: -Fed likely to achieve 'substantial progress' metric faster than expected -There are side effects from bond purchases -Still supports bond purchases but economy has improved faster than anticipated -Fed to reach full jobs, price goals some time in 2022
  • Key break higher for gold this morning as it pushes above $1800 for the first time since February https://t.co/Ih2e5I7ddS
  • Hey traders! Risk trends continue to struggle for clarity of direction. Get your Thursday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/TYFzIJxlvR
  • This bull flag pattern on $EURUSD played out as the textbooks usually project. The break to the upside is perhaps the path of least resistance - at least until we get back to the 1.2150 high, if we get there https://t.co/h5wOcHftl2
  • Dallas Fed's Kaplan (non-voter) -Wants to see taper talks start sooner rather than later
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 2.86% Gold: 1.39% Oil - US Crude: -1.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Q8RUbC8LNP
Forecast - Brexit, EU Stability, Fed and China GDP Top Themes

Forecast - Brexit, EU Stability, Fed and China GDP Top Themes

John Kicklighter, Chief Strategist

Talking Points:

  • Risk trends open with a strong rally as US benchmarks hit a record high - but the drive isn't global
  • Brexit risks seem to have lessened with a new UK Prime Minister looking to take over for Cameron
  • Euro-area stability is being threatened by the Italian banking system, while China GDP and Fed timing seem prosaic

See the DailyFX Analysts' 3Q forecasts for the Dollar, Euro, Pound, Equities and Gold in the DailyFX Trading Guides page.

Chief Strategist John Kicklighter discusses the top Forex fundamental themes for the coming week of trading. There are a considerable number of key themes that the market is juggling, and financial stability is at risk depending on their outcome. The most rudimentary of the themes - risk trends - was not expected to be an immediate focal point last week; but record high equity markets changed that Monday. Tracing out the fundamental lines of influence, the carry over influence of the Brexit seemed to offer some degree of relief from weeks of volatility as a Prime Minister succession seemed to have been resolved - though there are far more pressing complexities to this issue. Other themes coming to the forefront with no resolution to them included the rise of the European banking pressure (particularly in Itay); the return to China stability concerns with 2Q GDP data due Friday and the awkward position NFPs put us in for Fed rate speculation. We discussed these important fundamental themes in this week's webinar.

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