Nicolas

Chief Client Relationships Officer
Responsible for the relationship with all our organization’s customers. I oversee the Customer Support and Customer Relationship Departments.

It has been a relatively quiet session overnight both in terms of news and price actions as investors await the FOMC meeting tomorrow.

US stock markets closed with limited gains (+0.2%) in a session devoid of economic data. Overnight, most Asian bourses lost slightly ground with Japan outperforming (mostly due to the yen weakness).

 

After a week of very strong gains on hawkish BoE talk, GBP fell yesterday after investors took profits.

BoE governor Carney confirmed recent BoE communication that chances of a rate hike have risen, even as Brexit contains plenty of risks for the UK economy. The speech of the BoE governor didn’t help GBP anymore though. It fell even prey to more profit taking. EUR/GBP closed the session at 0.8856. GBPUSD is trading at 1.3475 after breaching 1.36 on Friday.

 

Gold prices inched a bit higher on Tuesday to $1309,

but remained within sight of their lowest level in around three weeks ($1304). The yellow metal suffered its fifth decline in six sessions on Monday, as gains in the U.S. dollar and record highs for benchmark U.S. stock indexes pushed prices lower.

 

The Australian and New Zealand dollars moved higher against their U.S. counterpart today,

as market participants were looking ahead to the Federal Reserve’s policy meeting, due to begin later in the day. AUDUSD help firm at 0.7986 while NZD rose to 0.7295.

 

Today’s calendar contains German ZEW investor sentiment, US housing starts and building permits.

Was this article helpful?

7 0 0