Accounting blip and Japan summit lift the FTSE
Fiona Cincotta June 28, 2019 10:37 AM
The FTSE is trading higher led by property firms and miners and helped by a slightly more optimistic sentiment in Europe ahead of the key Trump-Xi summit in Japan this weekend.
The FTSE is trading higher led by property firms and miners and helped by a slightly more optimistic sentiment in Europe ahead of the key Trump-Xi summit in Japan this weekend. Also, through some clever revision at the Office of National Statistics Britain’s economy has just gained GBP 26 billion, a little a bit of positive news at a time when Britain’s economic growth is grinding to a halt.
House builders are the main gainers in London led by Berkeley Group which has attracted some speculative trading after a positive analysts’ note
Cable undecided ahead of the G20 meet
Sterling traders remain very, very cautious and price moves against the dollar are barely palpable. On the pound side of the equation the wait for the outcome of the Tory leadership race is preventing more serious position taking, on the dollar side the market is in a limbo ahead of the G20 meet between the Chinese and US presidents.
OPEC meeting around the corner, oil weaker
At this stage the outcome of the OPEC meeting in Vienna on Monday seems to be a done deal. Most of the major players have already indicated that the group plans to extend production cuts put in place in December and there has been no major dissenting voice among the oil producers. Still, Brent crude is a touch lower ahead of the meeting as the market has already factored further cuts into the price.
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.