EU FX Handover: Sentiment Remains Cagey
Fawad Razaqzada May 14, 2019 8:52 AM
A summary of news and snapshot of moves ahead of the US session.
- Risk assets staged a bit of a short-covering recovery after the escalation in trade wars between US and China last week. Stocks and commodity dollars, led by NZD, gained ground, while GBP and EUR were among the weakest.
- Sentiment remained cagey, though, and with Donald Trump tweeting away, mostly about how China is losing out, it looks like a deal is nowhere near about to be signed.
- Matteo Salvini, leader of Italy's populist League Party, sent the euro lower when he said his country is ready to break EU fiscal rules governing the size of its budget deficit.
- Data recap:
- UK unemployment rate lowest since 1974 to 3.8% vs. 3.9% expected and last
- Average Earnings Index 3m/y 3.2%, down from 3.5% and less than 3.4% expected
- Euro Zone Industrial Production -0.3% in March as expected and -0.2% last
- German ZEW Economic Sentiment -2.1 vs. +5.1 expected and +3.1 last
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.