Market Summary

Market Briefing

For the third day in a row the federal reserve intervened in the US money markets and promised it would do so on Friday, as pressure mounted for the central bank to open a permanent facility to ease pressure on short-term lending.

The European commission president, has opened the door to a possible Brexit deal, saying he was ready to scrap the controversial Irish “backstop” if Boris Johnson came up with a viable alternative.

Both Microsoft and healthcare companies were able to lift Wall Street on Thursday, leaving the S&P 500 less than 1% shy of its record high close from July.

There is expected to be a large amount of action in the option and futures market as the simultaneous expiration of stock index options, stock index futures, stock options, and single stock futures occurs.

GBP/USD Rose 0.1% to 1.2484, on the news that the Bank of England would leave interest rates as it waits for more clarity on Brexit. The bank said that if Brexit uncertainty persists inflation will likely become weaker.

NZD/USD Continued to show weakness trading around 0.6270 as trade war fears renew over reduced optimism from both US diplomats and Chinese media.

Gold continued to trade above $1500 level, but has displayed less volatility, as traders are unsure of the next move the Federal Reserve will make.

Today’s News

Server TimeHK TimeCurrencyDescriptionExpectation
02:307:30JPYNational Core CPI y/y0.5%
15:3020:30CADCore Retail Sales m/m0.2%
17:0022:00EURConsumer Confidence-7

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