How will GBP & USD react today?
March 22, 2018
Europe Market Movements
Don’t miss out today on the extensive data to be released in the UK, especially the Monetary Policy Summary and Bank of England (BoE) Minutes. The BoE is widely expected to leave interest rates unchanged but the GBP is still enjoying the boost given to it be the EU transition agreement.
US Market Movements
Donald Trump is widely expected to announce today tariffs on 100 types of Chinese goods and China will surely retaliate. The EU is thought to be next in the firing line. How will the single currency respond? Currency traders shouldn’t miss this trading chance. In the meantime, the USD isn’t being a high performer, losing value against major currencies. On the radar, American economic data out today.
Asia/Oceania Market Movements
The NZD has retained its value after the RBNZ kept Official Cash Rate unchanged at 1.75%. The Aussie however, isn’t doing so well, losing value against the USD. On the stocks front, the Asian markets closed mixed today, with the Nikkei 225 rising by 0.99% and the Kospi by 0.44%. The Hang Seng fell, as did the Shanghai Composite and the Australian S&P/ASX 200. Currency traders, don’t miss the Japanese Consumer Price Index overnight.
Crude Oil has risen, on the news of the decline in US Crude Inventories. WTI is currently trading at $69.44 a barrel, up 3 cents, and Brent at $69.44, down 3 cents. Gold has reacted positively to the FOMC rate rise and the weaker USD, with it rising in price.
The stock markets closed lower yesterday in reaction to the FOMC minutes. The Dow Jones closed 44.96 points lower, the S&P 500 fell by 0.2% and the Nasdaq composite by 0.3%. Traders are now waiting to see how the markets will react to the first shot today in the USA-China trade war.
|09:00 GMT||EUR: Markit Services PMI|
|12:00 GMT||GBP: Monetary Policy Summary|
|12:30 GMT||USD: Jobless Claims|
|23:30 GMT||JPY: Consumer Price Index|
For a complete list of today’s economic calendar click here