Nick Batsford, CEO of Tip TV, was joined by Zak Mir, technical analyst for Zak’s Traders Café, and Bill Hubard, Chief Economist for Bullion Capital, on the Tip TV Finance Show to discuss the ECB meeting today, Mark Carney’s speech last night, as well as the minimal market movement in August.
All eyes on the ECB
Batsford highlighted FX Street, who noted that German 10-yr yield off two-week lows, with the US-German 10-yr yield spread now at 146 bps. They continued that the ECB is likely to stay on wait and watch move, and the EUR may recover losses seen since last Thursday. In terms of currencies, the EURUSD is bearish after a daily close below 1.1292, whilst the EURGBP experienced a failed inverse head and shoulders pattern and now faces strong support at 0.7260. Gold/EUR is pointing higher after an inverse head and shoulders breakout, meanwhile, EURJPY is stuck in a symmetrical triangle. Hubard added that on the EURUSD, the market sentiment is 50/50, and he believed that the market is looking to relax in the build up to Christmas and wait and see what central banks are likely to do in 2016.
Batsford also highlighted Elliott, who outlined that many economists have all sorts of suggestions as to what ought to be done to help the Eurozone economy. She continued that this ranges from even more QE, measures to weaken the single currency and through to more negative interest rates. Chances are they’ll do nothing yet again.
October not what expected?
Mir commented that the currencies are doing nothing, and with October much anticipated and believed to be the gambling month and one of collapse, he wondered what will be the catalysts to make the market move.
Brexit for Carney?
Batsford finished with Elliott, who commented that the Bank of England weighed into the Brexit debate with Mark Carney’s speech in Oxford yesterday where he said, ‘Steps to ensure financial stability for those within the Euro area should not impede the achievement of financial stability for those without’.
We are not authorised by the Financial Conduct Authority of England and Wales. The information and/or data on this website is provided by us and any data providers which may be used by us for your general information and use only and is not intended for trading purposes or to address your particular financial or other requirements. In particular, the information and/or data on the website:
(1) does not constitute any form of advice (financial, investment, tax, medical, legal, spread -betting or otherwise); and (2) does not constitute any inducement, invitation or recommendation relating to any of the products listed or referred to; and (3) is not intended to be relied upon by you in making (or refraining to make) any specific investment, placing any bet or making any other decision; and (4) has not been issued or approved by Tip TV for the purposes of section 21 of the Financial Services and Markets Act 2000 (as amended from time to time).
Opinions expressed by speakers in the videos, writers of the blogs are only opinions and not expert advice. These opinions do not necessarily agree with those held by Tip TV, its directors, agents or employees who disclaim any intent to make betting, securities or securities markets recommendations. The value of investments and the income derived from them may fall as well as rise. APPROPRIATE EXPERT INDEPENDENT ADVICE SHOULD BE OBTAINED BEFORE MAKING ANY INVESTMENT, PLACING ANY BET OR MAKING ANY OTHER DECISIONS.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.