Market News & Blog

Markets Morning: Stocks up, GBPUSD hits the years high as traders bet that Britain will vote to stay in the EU

A rally and then dip in GBP and other countries makes the pre-vote surge complete for forex traders. Mario Draghi promising more easing helped the US dollar a little and Janet Yellen warned that stocks look a tad on the expensive side – in a qualified way anyway.

But stocks are higher in Europe, the UK and in the US as markets bet the Reamin vote will win.

Video: Market Mornings - 22 June

Sterling made a new high for 2016 as traders bet that the Remain campaign will win Britain's EU referendum. But the air near 1.48 was a little too thin and the reversal in Sterling to the mid 1.46's dragged Forex lower.

Stocks were higher and gold lower as markets broadly bet Forex traders are right.

Today in Indices and Commodities - 22 June

Gold has eased somewhat as demand for safe haven assets has dissipated due to the increasing likelihood - according to the polls - that the UK will vote to remain within the EU. 

Brexit fears ease; Gold & Yen lower. Liquidity thinning. Yellen speaking again today

The markets have been generally choppy, although most of them are currently not too far removed from levels seen time yesterday as we head towards Thursday’s Brexit vote. Cable, the AUD and the  Kiwi all made new trend highs but have now returned to their earlier ranges and, as liquidity continues to become increasingly thin ahead of tomorrow’s referendum, conditions will become increasingly difficult as the likelihood of gaps in pricing of all asset classes grows.

EU Open - Risk assets rally as Brexit fears fade; RBA remains neutral

Brexit fears ease and global equity markets rally; the Pound consolidates after a +2 % rally yesterday; RBA minutes show central bank remains neutral and July rate cut unlikely.

Markets Morning: As momentum shifts back to the Remain camp the Pound and risk assets are surging

The relief rally you have to have when the fear of Brexit recedes and markets bet that the polls are right and Remain will win. There are still plenty of polls before the vote to move markets but three this morning all favour Britain staying in the EU.

So it was a great night for stocks, GBP, Crude, Copper, the Aussie, CAD and Kiwi, Bonds continued to sell off, BUT USDJPY at 103.88 and Gold at $1287 tell you not everyone is convinced.

Markets in Focus - Australian Dollar: With no RBA rate cut in sight the $AUDUSD could rally hard if Britain remains in the EU

The RBA minutes this morning showed a central bank disinclined to ease rates anytime soon. Were it not for concerns about Brexit there is every chance the Aussie dollar would be up and through 75 cents heading toward 76 now that the interest rate outlooks for the RBA and the Fed are once again more aligned. 

The technicals suggest a similar outlook and the Aussie will be heading higher if 0.7510 is bested. 

Video: Market Mornings - 21 June

The polls say 'remain' is back in the ascendancy which was enough to ignite another big rally in Sterling, UK, and European stocks. Crude oil went along for the ride, as did commodity currencies. But the strength of gold and the Yen suggest not everyone is convinced.

Today in Indices and Commodities - 21 June

WTI climbed by 3% on Monday after polls showed a lower likelihood of the UK leaving the EU, finishing the US session just below the 50.00pb level.  The daily momentum indicators look constructive, so a vote to remain in the EU would do the economic growth outlook no harm.

Risk Markets surge on receding Brexit fears; Sterling makes biggest one-day gain in 7 years

With risk assets having jumped sharply higher at Monday’s opening bell, due to the receding fears of a “Brexit” at Thursday’s UK vote, the price action has since been relatively steady, but with Cable being the standout winner as it continues to climb strongly, posting its strongest daily gain since 2008 against the dollar, and also on all the crosses.

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