Market News & Analysis

Market Brief: Yields Rise In Cautiously Optimistic Trade

,


  • Currency markets remained within tight ranges due to a lack of top-tier news or headlines. Tomorrow’s ECB meeting is also suppressing volatility.
  • Reuters report that BOJ could be considering further easing, via an unnamed source at their upcoming meeting at 18-19 September.
  • RBA said they’re unlikely to implement unconventional policy measure’s (QE) but will consider them if necessary.
  • AUD and NZD are the strongest majors, JPY is the weakest during a cautiously risk-on session. AUD/JP broke its bearish trendline from the April high, USD/JPY moved to a 7-week high. EUR/USD remains around 1.1050 ahead of tomorrow’s ECB meeting.
  • National Australia bank revised their forecast for RBA to cut 50 bps by February 2020 (up from one cut).
  • Australian consumer’s looked past rising house prices and turned pessimistic, according to a Westpac survey.  Compared to a year ago, sentiment is down by -2.3%. Current conditions also fell by -2.7% in September.
  • Tom Watson, Labour’s deputy leader is to demand a Brexit referendum before the election.


Up Next:

  • No first-tier data throughout the European or US session could make for another quiet session.
  • Producer prices are expected to stay flat at 0% in August, although PPI excluding energy is forecast to expand by 0.2% from -0.1% prior. Yet with both headline annual reads having topped late 2018, downside pressures persist.



Disclaimer

This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit cityindex.com.sg for the complete Risk Disclosure Statement.

Important Notice:

Cryptocurrencies are not legal tender currency and trading of derivatives on Cryptocurrencies are currently not covered under any regulatory regime in Singapore. Consequently, investors should be aware they do not have protection under the Securities and Futures Act (Cap. 289). Please ensure that you are fully aware of the risks.