June 7, 2018

IronFX, Daily Report: UK’s inner quarrel & ECB may start ending stimulus

Here are the market highlights of the day!

This article is originally referred from IronFX News.

Euro strengthens as ECB may start ending stimulus

  1. EUR/USD reached a ten day high yesterday as ECB officials stated that the bank could start winding down it’s QE program by end 2018.
  2. They also stated that Inflation was rising back to its target (ie. +2% yoy).
  3. ECB’s chief economist Peter Praet said that the bank would debate next week on whether to gradually unwind bond purchases.
  4. Also the Head of Germany’s central bank said that market expectations for an end to bond buying this year were plausible.
  5. Should there be further comments about ECB’s intentions regarding it’s stimulus program ahead of the ECB meeting on the 14th of June we could see the common currency strengthening.

UK’s inner quarrel

  1. According to news reports, UK’s PM is facing a major cabinet rebellion over Brexit which could destabilize the government.
  2. UK’s Brexit secretary David Davis seems to be in disagreement with Theresa May’s plans to tie UK to EU customs rules for unspecified amount of time.
  3. UK’s proposals were to be given to their EU counterparts on Wednesday, but currently UK negotiators are holding it back.
  4. Theresa May is about to have meetings and discussions with senior ministers in an effort to resolve the issue.
  5. Should there be any further instability in the UK political scene about Brexit we could see the pound weakening.

Today’s other economic highlights

  • Germany: Industrial Orders for April, Survey: +0.8% mom Prior: -0.9% mom, 06:00 (GMT), could support EUR
  • UK: Halifax House Prices, Survey: +1.0% mom Prior:-3.1% mom, 07:30 (GMT), could support GBP
  • Eurozone: GDP Revised for Q1, Survey: +0.4% qoq Prior:+0.4% qoq, 09:00 (GMT), could weaken EUR
  • US: Initial Jobless claims, Survey: 225k Prior: 221k, 12:30 (GMT), could weaken USD
  • Canada: Release of Financial System Review report
  • Speakers: BoE’s Dave Ramsden speaks (16:00, GMT) and BoC governor Stefan Poloz (15:15, GMT) holds press conference for Financial System Review

IronFX Daily Report ‘June 7th’

Original Source: IronFX News

All Forex Brokers

  • IFC Markets
  • FxPro
  • IronFX
  • Axiory
  • FBS
  • Land-FX
  • MyFX Markets
  • Titan FX
  • Traders Trust
  • XM
  • LMFX
  • FXDD
  • ForexClub
  • KVB Kunlun
  • Tradeview
  • EightCap
  • FXOpen
  • HotForex
  • FXGiants
  • Fortrade
  • CM Trading
  • InstaForex
  • ForexMart
  • Valutrades
  • AvaTrade
  • Yadix
  • easyMarkets
  • JustForex
  • Swiss Markets
  • FXTM
  • HYCM
  • FP Markets
  • SimpleFX
  • IC Markets
  • Evolve Markets
  • Tickmill
  • UFX
  • Anzo Capital
  • LiteForex
  • 4xCube
  • OctaFX
  • Tifia
  • XTB
  • AAAFx
  • NordFX
  • FXGlory
  • Capex
  • ClickTrades
  • TopstepFX
  • HotForex ZA (South Africa)
  • XMTrading
  • PaxForex
  • ITRADER Global
  • FortFS
  • MiltonMarkets
  • ETFinance
  • ATFX
  • XBPrime
  • Oinvest
  • VantageFX

All Crypto-Currency Exchanges

  • CEX.IO
  • HitBTC
  • Paxful
  • BitMEX
  • C-CEX
  • Binance
  • YObit
  • Wisebitcoin
  • Bibox
  • BKEX
  • CoinPark
  • CoinEx
  • CoinField
  • bybit
  • Bitpanda

This website uses cookies

By using our site, you acknowledge that you have read and understand our Privacy Policy (Cookie Policy), and our Terms of Service.