Comments from Varadkar: ForexLive
UK foreign secretary Boris Johnson is said to be deciding whether or not to resign ForexLive If BJ leaves, more will follow. And that will create a further uproar following David Davis’ resignation earlier in the Asian session. So far, sterling bulls have been buying the fact that the earlier resignations have been less impactful…
Further comments by ECB member Ewald Nowotny on the day – Balance sheet of ECB will stay substantial – Will remain active in markets to purchase securities – Wouldn’t be too nervous about short-term effects of Italy’s new government ForexLive
EUR/USD up to a high of 1.1788 on the day as Draghi waits in the wings ForexLive The next key level to be tested will be the 1.1800 handle where offers lie as well. The pair has been on a steady track higher throughout the trading day, with the dollar on the back foot for…
Further comments by ECB’s Nowotny ForexLive A continued reiteration of the “summer of 2019” timeline that the ECB won’t act to change interest rates. Not anything new, but certainly reaffirms the fact that they are not leaving themselves with a lot of flexibility in terms of moving to raise rates next year.
Comments by ECB member Ewald Nowotny Nothing too new from Nowotny as he plays up the inflation rhetoric and plays down the slowdown in growth so far seen in the Eurozone this year. Surprisingly, he isn’t as worried about the global trade situation – which has already started impacting European companies.
100 hour MA now resistance The GBPUSD has continued to the tumble lower and in the process has been able to find support buyers at the 200 hour MA (green line in the chart below).
S&P 500 futures higher Trouble in North Korean relations and Brexit turmoil hasn’t hurt sentiment today. The main market driver is trade and the feeling today is that it’s ok. On Friday, the US and China trade tariffs but it has (yet?) escalated beyond that, which is positive.
It is a matter of fighting the fights that you can win. One of the things many retail traders complain about is the influence of algorithmic (or algo) traders on the market and their trading.
Comments from the ECB’s Draghi Upbeat comments from Draghi but similar to what we’ve heard recently. No moves in EUR/USD, which remains up 36 pips to 1.1781 today.