FX News Today
- Risk appetite picked up during the Asian session amid further confirmation from Chinese officials that they will implement measures to boost the flagging economy.
- Equities recovered as China pledges to support growth.
- Brexit: The most important day so far, with Parliament set to reject the government’s deal.
- GBPUSD whipsawed by Brexit vote news; first backed, then undermined.
- Yen has outperformed as global stocks tumble on big China trade data miss.
- EURUSD ebbed to 5-day low at 1.1437, before rebounding to 1.1485.
- Oil prices stabilised and the front end WTI future is trading at USD 51.23 per barrel.
Charts of the Day
Main Macro Events Today
- US PPI and Core – Expectations – December headline PPI is forecast dipping 0.1%, while the core rises 0.1%.
- ECB President Draghi Speech – Draghi will probably strike a cautious tone and acknowledge that the balance of risks is starting to shift to the downside.
- Parliament Brexit Vote- Expectations –There seems be neither an agreement on PM May’s deal, nor on any of the feasible alternatives. And reportedly, EU officials who are not keen on a hard Brexit scenario are open to a 3-month extension to the Brexit schedule. See our Brexit Vote summary.
Support and Resistance Levels
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Andria Pichidi
Market Analyst
HotForex
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