Finance Forex

UK PMI Miss Boosts Equities, AUD/USD May Rise Before Trump SOTU

UK PMI Miss Boosts Equities, AUD/USD May Rise Before Trump SOTU essay is one as concers those Finance, Forex categories, posted just after our reporter Erick Emerson just as February 6, 2019, these section can search on top of that tags list AUDUSD, Boosts, Equities, PMI, Rise, SOTU, Trump, UK. I'm pleasant to blissful you also providing the anothers blogpost in regard finance along with I always posting those section daily.

Asia Pacific Market Open Talking Points

  • Soft UK PMI data triggered risk-on rally as British Pound plummeted ahead of BoE
  • RBA Governor Philip Lowe speech may bode well for the pro-risk Australian Dollar
  • All eyes on Donald Trump’s State of the Union address, Japanese Yen may weaken

Find out what the #1 mistake that traders make is and how you can fix it!

Major Market Developments Tuesday

Global benchmark stock indexes generally extended their gains in another ‘risk-on’ rally as the S&P 500 matched its best winning streak since January 10 (5 days). The trigger seemed to stem from the United Kingdom after disappointing economic data crossed the wires ahead of this week’s Bank of England ‘Super Thursday’ event.

There, local services PMI clocked in at 50.1 versus 51.0 expected, the softest pace of growth since July 2016 which was a month after the Brexit Referendum. Looking at the chart below, UK government bond yields tumbled as the FTSE 100 soared. S&P 500 futures picked up on the gains, leading to the rally on Wall Street. Bets of a BoE rate hike later this year declined as the British Pound tumbled across the board.

GBP/USD and Market Reaction to UK Services and Composite PMI Data

Chart created in TradingView

This also seemed to be the case for Fed rate hike bets, notable since the central bank highlighted external risks to their outlook (a hard Brexit included). The US Dollar aimed cautiously higher, perhaps due to the intense weakness in Sterling. But gains somewhat tapered later in the day. Pro-risk currencies such as the Australian and New Zealand Dollars aimed a little higher thanks to the upbeat mood in investors.

Asia Pacific Trading Session

Wednesday’s Asia Pacific trading session contains a couple of notable economic event risk. The first will be a speech from RBA Governor Philip Lowe after yesterday’s interest rate decision. Here, the Australian Dollar could climb if Mr. Lowe continues to undermine dovish policy expectations. This could especially be the case if he continues to favor their next adjustment as a rate increase and not a cut.

Then, at 2:00 GMT US President Donald Trump is expected to deliver his State of the Union address. Topics here that could impact market volatility are those about the chances of another government shutdown and any progress on US-China trade talks. S&P 500 futures are pointing a little bit higher which may precede cautious gains in regional bourses. This could bode ill for the anti-risk Japanese Yen. Technically speaking, the Australian Dollar could be on the verge of extending gains by the end of this week.

US Trading Session

UK PMI Miss Boosts Equities, AUD/USD May Rise Before Trump SOTU

Asia Pacific Trading Session

UK PMI Miss Boosts Equities, AUD/USD May Rise Before Trump SOTU

** All times listed in GMT. See the full economic calendar here

FX Trading Resources

— Written by Daniel Dubrovsky, Junior Currency Analyst for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

You probably want to view anothers chapter finance just as our related paper or you might want to review during well-received article, I'm always writting those finance article frequenlty for hint together with clue moreover methode so saving our finance moreover living those financial freedom. This post is written during Erick Emerson with the title UK PMI Miss Boosts Equities, AUD/USD May Rise Before Trump SOTU.

Related posts of "UK PMI Miss Boosts Equities, AUD/USD May Rise Before Trump SOTU"

Should two people with $1 million in debt even consider getting married?

Dear Moneyist, My girlfriend and I make about the same income monthly of approximately $19,000. I have gone through a divorce and several downturns in the economy as an entrepreneur so I have $55,000 in credit-card debt and $34,000 in IRS debt, plus a car and mortgage. My gross income is approximately $225,000,...

2018-High on Radar Amid Overbought RSI Signal

Gold Talking Points Gold rallies to fresh yearly highs despite hopes of a U.S.-China Trade Deal, and recent price action brings the 2018-high ($1366) on the radar as the bullish momentum appears to be gathering pace. Gold Price Forecast: 2018-High on Radar Amid Overbought RSI Signal The narrowing threat of a global trade war has...

This is the average 401(k) savings by age

A record number of 401(k) holders at Fidelity Investments hit millionaire status in 2018. Not one of them? You’re in very good company: A seven-figure 401(k) balance is the exception, not the rule. In fact, the average 401(k) balance at Fidelity — which holds 16.2 million 401(k) accounts and is consistently ranked as the largest...

How Big Are Amazon’s Shipping Ambitions? Layoffs at XPO May Reveal Clues

Just how big are Amazon's (AMZN) ambitions in shipping? A recent earnings report from XPO Logistics Inc. (XPO) , a major provider or warehousing and last-mile delivery services, provided some clues.  Last week, XPO executives told investors that it missed quarterly revenue forecasts due in part to a pullback from a major customer, widely assumed to be...

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.