Trading Update |
05-Sep-14, 10:11am: Surprise ECB Rate Cut Sees Euro Drop Below $1.30Draghi shocked the markets with yesterday’s interest rate cut, with the euro dropping sharply against all its major counterparts. Traders will now look towards key employment data from the North America, with US Non-Farm Payrolls and Canadian net change. |
08-Sep-14, 9:01am: Sterling Tumbles as Poll Points to Scottish IndependenceGBP/USD saw a huge gap lower to $1.6165 as the latest polls suggest that the ‘Yes’ campaign has moved into the lead ahead of the 18 September referendum. The weak Non-Farm Payolls figure has benefited gold, with some weakness in USD/JPY, though EUR/USD is still struggling after the ECB rate cut. |
08-Sep-14, 11:09am: US Stocks Rally as Non-Farms Data DisappointsWith the American economy adding just 142,000 jobs, much less than the 225,000 expected, US stocks rallied as this may delay a rate hike from the Federal Reserve. |
08-Sep-14, 12:29pm: Pound Drops as it Catches Up to the Possitibily of Scottish IndependenceRecent moves in the pound suggest that forex traders are only now pricing in concerns that Scotland may vote for independence. With a poll suggesting that the ‘Yes’ vote may be in the lead, IG suggests that their own clients have a rather different view. |