Trading Update |
01-Oct-14, 9:30am: US Weakness Weighs on European MarketsDisappointing economic data dragged the US lower last night along with political unrest in Hong Kong. The supermarket sector is in focus today as Sainsburys cut its full year forecast and Tesco announced that the financial watchdog has launched a full investigation into their accounting losses. |
01-Oct-14, 9:30am: Dollar/Yen Surges to Six Year HighUSD/JPY is targetting major resistance at the 2008 high of ¥110.77, with the next technical level around ¥114.74. Crude oil saw its worst quarter for 2 years, with gold also being forced to recent lows as dollar strength continues to linger. |
01-Oct-14, 11:55am: This trading video discusses some of the fundamental and technical factors surrounding the euro and the Japanese yen. Is the Euro Set for a Short Squeeze if the ECB Disappoint? |
02-Oct-14, 9:28am: European Markets Dip Ahead of ECB Meeting in NaplesWith many believing that Draghi will be forced to expand asset purchases to devalue the euro, indices are slightly off this morning ahead of the latest ECB policy meeting. |
02-Oct-14, 9:28am: Dollar Retracement Sees Consolidation in USD/JPY and StocksA pull back in the dollar ahead of the NFP tomorrow and amid geopolitical concerns has seen significant buying of the Japanese yen and gold, with equities slipping. FX traders will also keenly watch Mario Draghi’s press conference for hints about easing policy in the future. |
02-Oct-14, 2:37pm: WTI Tumbles as Rising Supply Outstrips DemandThere has been a huge boon in US oil production which has coincided with a drop in global demand and led to WTI futures breaking below the $90 level. If the current trend continues, and we don’t see any intervention by OPEC, we could see the contract target $75 per barrel. |