Market Update – Key News – Trump Comment – GBP rally – Chart Breakdown
• Trump hints at possible 6-month delay in EU Auto tariffs
• Singles Day breaks Alibaba records, 30 billion in sales and still climbing
• New Zealand Inflation Expectations drop to 180% – NZDUSD continues to dive post data.
• GBP ignores weaker prelim GDP, manufacturing production data and possible Moodys downgrade to end yesterday higher
Today’s Medium-impact economic news:
• 8:30 pm GBP Average Earnings Index EXP 3.8%
• 9:00 pm EUR German ZEW Economic Sentiment EXP -13.2
• 9:30 pm EUR FOMC Member Clarida Speaks
The ASX yo-yo continues with price down 0.57% in today’s sessions while the Nikkei and Hang Seng are higher. The Hang Seng was hammered over 2% lower in yesterday’s session. The risk has seen a mixed session to the USD and JPY so far. The AUDUSD hitting new weekly lows while the EURUSD continues to remain above 1.1020. after buyers snapped a 5-day losing streak. Chinese shares remain mainly lower, but the China A50 is trading higher at this stage.
New Zealand inflation expectations came in at 1.80% below the last 1.86%. The RBNZ is expected to drop rates in tomorrow’s meeting. The NZDUSD has been hit hard dropping 0.40% this hour.
Today’s update video, we look at today’s Asian session so far and focus on the GBPUSD, GBPCAD, EURUSD and Bitcoin daily charts.