Oil, Asian data and protests weigh on FTSE
Fiona Cincotta June 14, 2019 5:12 AM
Chinese industrial data played a part in the FTSE’s decline as the UK is the second largest European exporter into the country. Industrial production in China is now at a 17-year low, reflecting weaker domestic demand but also the escalating trade tensions which became worse during May, the month of the latest data reading.
Oil prices are lower after the International Energy Agency cut its forecasts for global demand this year but the tense situation in the Gulf is preventing prices from a bigger decline.
Pound steady as Johnson emerges in the lead for next PM
The pound is barely showing any signs of life, trading in a narrow channel against the dollar and the euro since late yesterday when Conservative MP's went into the first round of voting on their next party leader. For the moment the fabled volatility in the currency market has not materialised but there is time yet for the temperature to start rising.
US industrial production data and retail sales due out later today will be the focal point for euro/dollar trading as this is the last set of significant economic data before next week’s FOMC meeting.
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.