EU Bullet Report | China collapses & GOLD’s wild swings

  • The Asian Session saw USDJPY recover from 111 lows of Wednesday, to 112.55 after BOJ official stated that cheap Yen might hurt the economy.
  • China on the other hand has dropped 6% while Japans Nikkei closed positive 1.41% after reports that the government is considering an increase in spending to support the economic growth.
  • GBPUSD continues to be under pressure on Brexit fears. A Bloomberg survey showed said that there is a 40% probability of an economic recession should a Brexit happen
  • NZD and CAD are now the strongest major currencies this week with European the weakest ones.
  • Last night, saw a reversal in Wall Street, and stocks closed positive after oil prices stabilized. As a result GOLD reversed its spectacular gains to 1253 earlier and dropped as low as 1220. It trades now at 1236.
  • Data wise, we have a light calendar today so markets will look forward to the G20 meeting tomorrow in Shanghai where IMF’s Lagard’s, is hoping for a “strong policy response, both national and multilateral: if threats to economy persist.

Please note: Try our new trading platform and login with your same username and password you use at easy-forex. Experience a better user interface with news, Technical Analysis and charts – all in one page.

Report prepared by Nicolas Shamtanis.

The post EU Bullet Report | China collapses & GOLD’s wild swings appeared first on Forex.Info.

Source:: EU Bullet Report | China collapses & GOLD’s wild swings

Won't your trader friends like this?
About the Author
With over a decade of trading expertise and 100,000 fulfilled clients in 160 countries worldwide, easyMarkets will tick all your boxes whether you are a new or experienced trader, affiliate or introducing broker. [space height="20"] Trade 300+ markets including currencies, commodities, metals, vanilla options and indices from one place without the jargon, complicated offers and confusing terms! [space height="20"] Welcome to the exciting world of trading. Welcome to easyMarkets.

Related Posts

Leave a Reply