EU Bullet Report | Asian stocks drop, OIL surrenders gains

Posted On 23 Feb 2016

Tag: Asian stock markets, AUDUSD, Crude Oil, EURUSD, GBPUSD, Gold

Despite a rally in Wall Street, Asian indexes are surrendering gains this morning with USDJPY dropping as much as 110 pips below 112.00.

GOLD jumped overnight, as high as $1223 from $1208 yesterday as stock markets in Asia dropped.

AUDUSD posted a new monthly high at 0.7246, near its key level resistance at 0.7250. A breach of this level could bring it up to 0.7295.

Oil markets jumped as much as 7 percent on Monday but surrendered some of its gains on Tuesday

GBPUSD hit a 7 year low of 1.4057 yesterday, managed to recover some 100 pips later, but is trading at 1.41000 at time of writing. London

mayor backing the exit of UK from the EU is the catalyst behind the drop. UK will have a referendum on staying or not in the EU on June 23rd.

EURUSD also fell to a three week low of 1.003 on fears that “Brexit” could affect the EZ negatively.

Coming up are German IFO index, and US Home Sales. BoE’s Carney, and a couple of FOMC members also speak later tonight.

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