“Brexit” it is… • The UK has voted to leave the EU. • GBP/USD collapsed to levels last seen in 1985. Euro plunged as well, but to a lesser extent than sterling. • We expect both GBP and EUR to continue lower, as uncertainty over the future of both the UK and the EU heightens. • JPY and gold gained as investors flocked to safe havens. Both could gain even more in coming days. • Nikkei 225 is down 6.7%. UK and European stock indices are very likely to follow suit. • Likelihood for more easing by the BoJ and ECB in the near-term is now much higher. • If JPY and CHF continue to strengthen, we could see FX interventions by BoJ and SNB. BoJ said its ready to act, SNB did not comment.
Today’s indicators: • Germany: Ifo survey for June, but in the aftermath of “Brexit, likely to pass unnoticed. • US: Durable goods orders for May are exp. to fall. • Speakers: ECB Governing Council member Francois Villeroy de Galhau.
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“Brexit” it is…
• The UK has voted to leave the EU.
• GBP/USD collapsed to levels last seen in 1985. Euro plunged as well, but to a lesser extent than sterling.
• We expect both GBP and EUR to continue lower, as uncertainty over the future of both the UK and the EU heightens.
• JPY and gold gained as investors flocked to safe havens. Both could gain even more in coming days.
• Nikkei 225 is down 6.7%. UK and European stock indices are very likely to follow suit.
• Likelihood for more easing by the BoJ and ECB in the near-term is now much higher.
• If JPY and CHF continue to strengthen, we could see FX interventions by BoJ and SNB. BoJ said its ready to act, SNB did not comment.
Today’s indicators:
• Germany: Ifo survey for June, but in the aftermath of “Brexit, likely to pass unnoticed.
• US: Durable goods orders for May are exp. to fall.
• Speakers: ECB Governing Council member Francois Villeroy de Galhau.
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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