FTSE lower as corporate results show declining sales
Fiona Cincotta June 19, 2019 10:41 AM
Trading is slightly more restrained than usual ahead of the key Federal Reserve meeting which will set the tone for the rest of the day’s trading. The Fed is widely expected to keep rates unchanged but to opt for a cut at its next meeting in July. The tone of the meeting will be crucial given that the domestic US economic data has been showing more weakness of late.
Euro in focus after Draghi comments and Trump on the attack
The European Central Bank is about to change tack on interest rates and potentially re-start quantitative easing, but the move, which was resolved to prop up the region’s ailing economy, has provoked the ire of the US President. A series of Trump tweets have left investors wondering if they will be looking at currency wars this summer in addition to trade disputes.
The euro weakened against the dollar and the pound in the aftermath of Draghi’s comments but this morning the common currency has recovered all of the lost ground, trading up 0.11% against the greenback and flat against the pound.
Sterling is marginally higher against the dollar but still relatively weak at $1.2576, suspended in the lower range while the Tory party leadership contest is in full cry.
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.