UK PM Theresa May will face a leadership challenge later today after the 1922 Committee received the 48 letters needed.
Asia Pacific stock markets found something positive at last in reports that China will cut its tariffs on auto imported from the US
Substantial progress was made in the US-China trade war Tuesday as China’s Vice Premier, Liu He, announced a 25 percent reduction on tariffs of US autos.
Sterling made a fresh 18-month low Tuesday after rumors hit the screens that the 48 letters needed to trigger a vote of ‘No Confidence’ in PM May had been handed in.
Trading sentiment remains very poor despite a modest improvement in confidence.
EURUSD remains capped under 1.1400 for the time being and may struggle to push higher after the latest German ZEW data showed underlying economic weakness across the Euro-Zone.
The GBPUSD price is more stable Tuesday ahead of several important support levels but any break would send it even lower.
Sentiment remains fragile, Asia stocks traded mixed despite S&P 500 recovery and US China trade discussions. Nikkei 225 sitting on support, Japanese Yen rose. European shares at risk.
USD/CAD may continue to recover on interest rate differentials, but technical positioning hints at downside momentum. Will this attempt find follow-through?
The Australian Dollar has closed lower for five consecutive days after news broke of the arrest of Huawei CFO Meng Wanzhou, risking the possibility of a re-ignited US-China trade war.
USD/JPY ignored the release of fourth quarter business sentiment measures. Equities’ reactions to US-China trade negotiations and a potential no-deal Brexit will have more to offer.
PM May’s Brexit agreement is expected to be voted on in the House of Commons Tuesday, but with the PM staring at a heavy defeat, will the vote happen?
EURUSD has pushed back above 1.1400 and looks to re-test the 1.1500 area in the short-term as the USD drops below trend. Economic data and the ECB meeting and press conference (Thursday) will be key.
The Euro will likely be the primary point of focus for investors as the European Council meets this week to discuss Brexit, the Italian budget, international affairs and the future of Europe.
The Italian budget deficit negotiations may be front and center, but civil unrest in Europe’s second largest economy is weighing on French bond markets, hurting the Euro.
US yield curve inversion resulted in mixed ASEAN FX as USD fell and global stocks tumbled. Chinese economic activity could slow further, more rate hikes may be in store for PHP ahead.
Brexit will be the headline event to watch in the week ahead for equities, but trade wars are ongoing and pose a constant threat.
Crude may still finish the year in the red, but OPEC helped to stop the bleeding with a production cut agreement that exceeded market expectations.
Investors ditched their broad-market exposure well before Thursday and Friday’s decline according to exchange traded fund flows as a risk-off tone took hold.
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Here’s how the British Pound might react to the various possible outcomes after the UK Parliamentary vote on the Brexit deal reached by Theresa May and the EU.
The ramifications from the G-20 Summit in Argentina will dominate headlines in the coming days as speculators digest the longer-lasting impacts of discussion.
Many broad-index tracking exchange traded funds saw robust inflows ahead of the G20 summit this week. Elsewhere, defensive ETFs notched gains as some investors look to escape volatility.
Ouch. A massive reversal in the crude market has shifted the global outlook, and ripple effects are being felt the Vienna OPEC meeting seen as last hope to salvage 2018.
The G20 Leaders’ Summit may sink risk appetite if trade war fears increase, boosting the US Dollar against ASEAN bloc currencies such as SGD and PHP. Fed speak may also support USD.
Investors should look to White House officials’ comments to gain an edge in gauging the future direction of equities.