US and Germany released disappointing consumer confidence data on Tuesday. US consumer confidence fell to a near-decade low with the index slipping to 98.7 in June from 103.20 in May. While Consumer confidence in Germany was negative 27.4 points in July.
Boris Johnson or move Britain via another referendum that could eventually change the decision to
transmit the European Union.
UK shares and European shares rose slightly on Thursday as investors awaited the outcome of a
general election in Britain that will decide the fate of Brexit, as well as a policy meeting by the
European Central Bank (ECB).
Oil prices rose on Thursday, recouping some of the losses from the previous session that followed a surprise increase in U.S. crude inventories, as the market mood switched to relief after OPEC forecast a supply deficit next year.
The Pound is trading optimistic early on Thursday against the US dollar as the
elections in a bid to make a final decision on the issue of Brexit.
weeks on Thursday, as the Federal Reserve’s forecast that it would hold rates through 2020 sparked
an unwinding of long positions in the greenback.
Gold prices are trading steady early on Thursday after the Fed’s latest policy meeting revealed no
surprises in the markets. Gold is often considered a safe
and financial uncertainty.
UK general election preview:
Today’s UK general election is going to
and Labour parties have dominated British politics for many years. However, fractures into “Leave”
and “Remain” camps run through both main parties, making future voting patterns less predictable
than ever. The most recent YouGov poll has predicted a Conservative majority of 28 in the Parliament,
significantly lower than the majority of 68 predicted about a month ago.
ECB Meeting : 13:30 GMT:
Former Managing Director of the International Monetary Fund Christine Lagarde delivers her first
monetary policy announcements as ECB president on Thursday. Markets are not expecting any
changes to monetary policy after the ECB announced fresh stimulus in September.
AUD/NZD: As per our recommendation the pair trading above 1.0455 today. We suggest to book
partial profit and wait for the next target.
GOLD: As we witnessed gold found the short term support below 1460 and the yellow metal trading
above 1474$ today morning. Today due uncertainty events we recommend to book your profit and
wait for further direction.
Today we have important events like UK general election and ECB final meeting of 2019 due these events we may experience significant volatility with increased risk of market gaps so we recommend to our clients have sufficient margin coverage and comfortable with your exposure on your account.
EURUSD remains steady above 1.0580 following the hawkish comments from ECB President Lagarde. Lagarde speaks at the ECB Forum on Central Banking in Sintra, Portugal on Tuesday Morning. Lagarde said if the Inflation outlook doesn't improve, we will have enough information to act faster.
Retail sales in the UK decreased 0.5% in May, after a downwardly revised 0.4% increase in April and compared to market expectations of a 0.7% fall. The ONS said food store sales fell by 1.6% in May from April, the biggest monthly fall since January.
FedEx Corporation (NYSE: FDX), the global courier delivery services company is set to report financial results for the fourth quarter today after the market close. The company is expected to post quarterly earnings of $6.91 per share and revenues are expected to be $24.57 billion.