Mid-session Europe: Politics to the fore
- Lack of important data leads to tight forex ranges
- Cable drops on doubts about Theresa May's ability to negotiate Brexit
- Gold gains on Greece-friendly EU speech and US tax plan problem
- Copper drops to a three-week low amid worries about demand
- Gulf of Mexico fire sparks brief pump-and-dump for crude oil
By the Global Sales Trading Team
- European stock indexes ticked lower, led by the basic material and tech groups. The financial and healthcare sectors were the only ones moving higher. Investors continued to juggle corporate earnings reports.
- US senators will see and receive a walk-through of the proposed tax bill today at 10:30 NY time.
- US President Trump and Chinese President Xi held a joint briefing. Trump was quoted saying that trade deficit with China is ‘shockingly’ high, while China’s Xi said that country will be more open to foreign investment.
- The G10 space continued to trade in relatively tight ranges as the week is thin on important economic data.
Please click on the attached PDF for the Saxo Bank Global Sales Team's overview of the mid-session movements seen in forex, equity, FX option, commodity, and bond markets.