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Market Summary

Market Briefing

The European central bank has announced its largest package of rate cuts and economic stimulus in three years. President Mario Draghi warned governments that they needed to act quickly to revive flagging eurozone growth.

Trump administration have debated removing or reducing tariffs on Chinese imports, an attempt to reduce trade tensions with Beijing which could pave the way for a new ceasefire between the world’s largest economies.

Growing speculation that U.S. sanctions against Iran may be dropped. as well as the proof that OPEC is losing market share to United States, drove the oil prices down on Wednesday

Wall Street rose on Thursday, and the S&P 500 ended the session within reach of its all-time closing high. This was caused by positive developments on the U.S-China trade front and promise of continued stimulus from the European Central Bank

The Pound rose against the USD on a report that the European Union is prepared to grant another Brexit extension to the U.K to prevent the country from leaving without a deal

EUR/USD: settled near a weekly high of 1.108s following wide intraday swings, triggered by the ECB’s announcement of a full stimulus package.

GBP/USD: rose from 0.15% to $1.2344 but has traded as high as $1.2368, following reports that the EU might grant the UK another Brexit extension.

Gold: the European Central Bank’s rate cut and promise of quantitative easing pushed the precious metal to one-week highs above $1,500 in anticipation of a similar action from the federal reserve.

Today’s News

Server TimeHK TimeCurrencyDescriptionExpectation
1:306:30NZDBusiness NZ manufacturing Index-
15:3020:30USDCore Retail Sales m/m0.1%
15:3020:30USDRetail Sales m/m0.2%

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