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At midday in London, the EUR was the strongest and AUD the weakest.
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EUR found support as German ZEW economic sentiment survey improved to -22.5 from -44.1, beating expectations of -38.0. AUD was weighed down by dovish RBA minutes, while NZD struggled as NZ consumer confidence slipped for a third consecutive quarter, to its lowest since Q3 2012. GBP edged lower as judges convened at the Supreme Court to decide whether U.K. Prime Minister Boris Johnson's decision to suspend Parliament was lawful - keep an eye on any breaking news on our twitter handle.
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Oil prices remained volatile, initially rising before turning flat. Market participants are still weighing up the implications of the weekend's attacks on Saudi Arabia's oil infrastructure. It remains unclear how long it will take Saudi to restore output after half of the nation's daily crude production went offline due to the attacks. US President Donald Trump, who said the US has reached a trade deal with Japan, reiterated that the US could release oil from their reserves. Separately, Japan's Industry Minister released a statement, saying they'll consider a coordinated release of oil reserves if it's required.
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Gold fell back below $1.5K as investors look ahead to the FOMC announcement tomorrow.
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Europe's major stock indices turned mixed after a weaker open, as investors looked ahead to this week's central bank meetings where the Fed is expected to cut rates by 25 basis points. Energy stocks such as Shell and BP propelled the FTSE to the positive territory thanks to elevated oil prices, although the biggest risers were IT firm Aveva and drug maker AstraZeneca.
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WeWork postponed its IPO after struggling to attract investor interest in what would have been a multibillion-dollar listing for the property group.
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Ocado shares rose 1% on Q3 earnings, the first to include its new joint-venture with Marks & Spencer
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EUR/USD stays in positive territory near 1.0650
EUR/USD clings to modest daily gains at around 1.0650 in the American session on Wednesday. The US Dollar struggles to gather strength amid a modest improvement seen in risk mood and helps the pair hold its ground.
GBP/USD stabilizes at around 1.2450 after UK inflation data
GBP/USD consolidates its daily gains near 1.2450 after recovering toward 1.2500 with the immediate reaction to stronger-than-expected inflation data from the UK. The renewed US Dollar weakness also helps the pair hold its ground.
Gold eases despite risk-off mood
Gold trades in a relatively tight range near $2,390 in the second half of the day on Wednesday. In the absence of high-tier data releases, investors keep a close eye on headlines surrounding the Iran-Israel conflict.
XRP tests $0.50 resistance after Ripple CLO clarifies that no pretrial conference took place with SEC
XRP is stuck below $0.50 resistance after failing to close above this level since Monday. Ripple CLO Stuart Alderoty said late Tuesday there was no pretrial conference since the SEC dropped charges against executives.
World economy: To cut or not to cut (simultaneously)?
US inflation March figure, again higher than expected, put an end to the scenario of a simultaneous first rate cut by the Fed, the ECB, and the BoE in June.