As the week finishes, the volatility decreases. The market movers today are British Pound, Japanese Yen, Gold and Russian stocks.
The British pound has been erasing the recent losses as survey in U.K. showed that the vote for Scotland independence has been losing ground. The price can go back up above 1.6500 very soon once the fear over U.K split disappears.
The USD/JPY pairing climbed up to 107.40 – the new 6-year high – as the U.S. Dollar strengthened before today’s Retail Sales data. The pair is expected to reach 108 level within next few month as U.S and Japanese monetary policy divergences. Japanese Government Kuroda is about to give a speech in the morning hours and therefore we should be careful with placing our positions before.
Gold and Russian stocks will probably move in opposite direction today, as EU is prepare to announce new sanction against Russia. We saw in past day the price of gold decreasing down it its 9-month low. Therefore we should wait for a pull back and place our trades accordingly.
Today’s main events:
9.00 GMT: EUR – Industrial Production – measures change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities
12.30 GMT: USD – Core Retail Sales – measures the change in the total value of sales at the retail level in Canada, excluding automobiles
September 12, 2014 – Daily Market News
As the week finishes, the volatility decreases. The market movers today are British Pound, Japanese Yen, Gold and Russian stocks.
The British pound has been erasing the recent losses as survey in U.K. showed that the vote for Scotland independence has been losing ground. The price can go back up above 1.6500 very soon once the fear over U.K split disappears.
The USD/JPY pairing climbed up to 107.40 – the new 6-year high – as the U.S. Dollar strengthened before today’s Retail Sales data. The pair is expected to reach 108 level within next few month as U.S and Japanese monetary policy divergences. Japanese Government Kuroda is about to give a speech in the morning hours and therefore we should be careful with placing our positions before.
Gold and Russian stocks will probably move in opposite direction today, as EU is prepare to announce new sanction against Russia. We saw in past day the price of gold decreasing down it its 9-month low. Therefore we should wait for a pull back and place our trades accordingly.
Today’s main events:
9.00 GMT: EUR – Industrial Production – measures change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities
12.30 GMT: USD – Core Retail Sales – measures the change in the total value of sales at the retail level in Canada, excluding automobiles
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