Macro Events & News

FX News

European Outlook: Asian markets were mixed. Wall Street closed at record highs but a slight slow down in Chinese GDP growth to 6.8% from 6.9% was enough to knock back Hang Seng and CSI 300. By contrast strong trade data out of Japan helped to underpin the Nikkei. Bank of Korea meanwhile kept policy on hold, but for the first time in a year, there was no dissenter in favour of a rate hike. Oil prices little changed around the USD 52 per barrel mark and U.S. and U.K. stock futures are heading south, with markets correcting slightly after yesterday’s fresh run higher. The GER30 closed at record highs, the UK100 is no far off and with Bund futures lifting off lows in after hour trade yesterday, it may be time for markets to take a breather and some defensive trade today, as the EU’s Brexit summit and Spain’s deadline to Catalonia approach. Data releases today include U.K. retail sales as well as Swiss trade data.

Main Macro Events Today

  • UK Retail Sales-   Expectations – a 0.1% m/m contraction.
  • US Unemployment – Expectations -At 240K from 243K last week.
  • Philly Fed Manufacturing Index – Expectations – to decline to 22.0 after the better than expected 4.9 point jump to 23.8 previously.

Charts of the Day

Support and Resistance Levels


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Andria Pichidi

Market Analyst


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