Forex news for trading on June 8, 2017
- Nasdaq composite index closes at record level
- Forex technical analysis: What levels are key for the GBPUSD, through the election result... and why?
- BOJ Kuroda: Policy steered economy in the right direction
- Trump lawyer: Testimony confirms Trump was not being investigated
- Scenarios for UK election and directions for GBP - Credit Suisse
- US stocks extend to new session highs, but stalls. Testimony over.
- Comey says he shouldn't answer question about Trump-Russia collusion in open setting
- Q1 US household net worth +$2347B vs +$1931B prior
- Poloz: He's 'comforted' by better dynamics in economy
- European stocks end the session mixed
- BOC Q&A: The risk of a housing correction is "moderate"
- Brexit financial services rumblings as UK voters head to polling stations
- Comey: Used a friend to leak content of memo of Trump conversation with press
- Poloz: Fundamentals alone can't explain Canadian house price movements
- Senior Italian Five-Star Movement MP calls for immediate election
- US dollar unfazed by Comey testimony
- Markets are steady through testimony.
- Gold takes a tumble before Comey testimony
- What we learned from Draghi and the ECB
- Draghi Q&A: Nothing substantial has happened to inflation
- Full text of Draghi's opening statement
- ECB slashes inflation forecasts, bumps growth
- Draghi opening statement: New information confirms a stronger economy
- Canada April new housing price index +0.8% vs +0.2% m/m expected
- US initial jobless claims 245K vs 240K estimate
- The snapshot of the strongest and weakest currencies as NA traders enter
In other markets:
- Nasdaq led the charge. S&P and Dow little changed. The Nasdaq rose by 0.39%..
- US yields are higher but come off the highs. 2 year 1.314%, up 0.8 bp. 5 year 1.748%, +1 bp. 10 year 2.186%, +1.5 bp. 30 year 2.848%, +1.1 bp
- Gold fell to $1271.33 right before Comey, then recovered. The price is ending the day at 1278.38, down -$8.72 but well off the lows
- WTI crude is trading little changed at $45.67. The high extended to $46.18. The low $45.20
Today was a big day. ECB rated decision and press conference, followed later Comey and up ahead is the UK election results.
The ECB and Draghi raised growth marginally but at the same time lowered the inflation estimates for 2017, 2018 and 2019. All are below the 2.0% target. He also said that QE would continue to December and rates would stay where they are at for a long while. Growth is higher but the ECB is still not in a rush.
The Comey testimony was opened the door for Trump to counter punch and his lawyer already has done so. Yes Trump may have implied some things but it may become a he said/ he said scenario. The best thing for Trump today (and a big result) was that someone tied his hands behind his back and he did not tweet. If he can stay disciplined, perhaps it might blow over.
Initial claims were about as expected.
Gold did tumble on the back of a large order BEFORE the Comey testimony.
The dollar was up mostly with declines only against the NZD today (but changes were relatively modest).
The GBP was mixed as traders await the election results.
Below is the snapshot of the % changes of the major pairs ahead near the end of the NY session.
