The new populist government doesn’t mean the worst is over yet for the euro and Italian assets The focus will now shift towards fiscal responsibility/sustainability. It will now be a question on how the new government will take on the EU’s fiscal rules as they also promise to increase spending and implement a package of…
Daily thread to exchange ideas and to share your thoughts Good day, everyone! Hope you’re all doing well as we kick start the week. It’s a light one on the calendar and the market looks to be still asleep with most currencies consolidating – though the dollar is on the back foot as we get the session…
Latest data released by the Swiss National Bank – 4 June 2018 Minimal change compared to the prior week’s report. A little bit of a surprise given the type of volatility that we saw in last week’s trading. But of course this reflects the net impact only, so that could be it.
In short, the meeting is largely expected to be a non-event Nothing has really changed since the last RBA meeting as the for the RBA – inflation and household consumption/debt – are yet to show any signs of improvement just yet. barely showed any improvement, and that will mean that the RBA will continue
EUR/USD up a to a high of 1.1715 on the day The pair now closes in on a test of Thursday’s high at 1.1724. Last week’s high came from Monday trading at 1.1728 – a move which was rejected by the 100-hour MA (blue line), so it’s not that far away too.
Latest data released by the Federal Statistics Office – 4 June 2018 Q4’s release can be found . The data was scheduled to be released last week but was delayed by the source.
Commodity currencies pull further ahead The aussie is now almost up close to 1% against the dollar on the day, with the greenback losing ground as we get the European session going. EUR/USD is back up to test the 1.1700 handle, while AUD/USD and NZD/USD are up to session highs of 0.7635 and 0.7018 respectively.
A bright start for equities in Europe A positive start to the week as investors are brushing aside any hints of the trade rhetoric. These are decent gains to kick start the day so let’s see if the positive vibes will spill over to US trading later.
According to an Elysee palace source The G7 summit is scheduled to take place next week on 8-9 June in Quebec, Canada. Meanwhile, French officials are cited as saying that the work agenda of the summit is complicated by the US’ stance on trade, climate, foreign policy.
Latest data released by the Ministry of Employment – 4 June 2018 The jobless figures fall 2.5% relative to April. A minor data point, not going to do much to the euro.