Published at 00:58 (GMT) 15 Oct
President Barack Obama will hold video conference with UK, French, German, Italian leaders on Wed on Ebola epidemic, Islamic State and Russian actions in Ukraine. - White House - Reuters.
On FX, some focus on the above talks - and any development from there. GBP/USD under pressure after the soft UK CPI of 1.2%y/y in Sep vs 1.4% expectation. Effectively pushing back expectations of earlier BoE Rate hikes. GBP/USD extended losses earlier, to fresh 11-month lows of 1.5883. Lowest level since Nov 13 2013 1.5876. Eye break of 1.5875/1.5850 next. As GBP down sharply from 1.6050-55 before the data.
EUR/USD under pressure as well on soft German ZEW. Putting more pressure on ECB/Buba Jens Weidmann to agree with some ECB measures proposed by ECB Pres Mario Draghi. EUR/USD at 1.2638-40, down from 1.27 handle on Tuesday. Offers at 1.2650/1.2700 again. Eye break 1.2600 again for 1.25 handle. WL
Recommended Content
Editors’ Picks
EUR/USD stays near 1.0800 after upbeat US data
EUR/USD stays under modest bearish pressure and trades near 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.