Market Overview - Page 610

Markets are taking a breath right now and retracing some of the moves over the past number of sessions. Whether this turns into a broader rally or the selloff is resumed remains to be seen. Stock markets are higher after.

At 08:00 GMT, ECB President Mario Draghi is due to speak at the ECB Forum on Central Banking, in Portugal. EUR crosses can be impacted by any comments made. At 08:30 GMT, ECB’s Praet is due to chair a discussion.

While there was risk yesterday from Central Bankers very little was said to move the market. Instead the Trade War narrative boiled up again with the latest headlines that US President Trump is planning to impose an additional $200Bn in.

At 12:45 GMT, US Fed’s William Dudley is scheduled to give a speech today. Comments made can move prices in USD crosses. At 17:00 GMT, FOMC Member Bostic is due to speak about the economic outlook and monetary policy at.

OPEC and non- OPEC members are meeting in Vienna on Thursday for the start of a 3 day summit where production cuts are on the agenda. US Rig counts on Friday showed an increase of 1 to 863 as more.

At 09:00 GMT, Eurozone Consumer Price Index (Apr) will be released with a consensus for 0.5% (MoM) and 1.9% (YoY) from 0.3% (MoM) and 1.9% (YoY) previously. Consumer Price Index – Core (Apr) is expected at 0.3% (MoM) and 1.1%.

The ECB dominated markets yesterday as they shifted their policy stance and signalled their exit from QE. The Bank is looking to reduce its bond buying by 15Bln euro from September and terminate the program completely by December provided market.

While the “Risk On” rally continues in global stocks the Chinese markets are lagging behind over fears of trade tensions and high levels of maturing debt. In stark contrast US markets were higher adding to the gains made in the.

At 10:40 GMT, UK MPC Member Tenreyro is due to deliver a speech titled “Productivity Matters: What is the state of trade?” at the Confederation of British Industry Economic Briefing, in Belfast. Audience questions are expected to follow. This event.

The news broke overnight that Steve Mnuchin had urged the President to give Canada an exemption from the Steel and Aluminium tariffs. USDCAD had already sold off from its high of 1.30657 but extended the move and is now trading.

At 07:55 GMT, German Markit Services PMI (May) will be out with an expected headline number of 52.1 against 52.1 previously. After reaching a multi-year high in February at 57.3, this data has come back into its range under 56.0..

Yesterday’s session was quite after a pickup in volatility last week and there has been little in the way of movement overnight. This is despite some negative headlines that possibly sapped some of the market strength over the last 24.