Market Overview

28 June 2019 07:41

Maria Gregoriou

The annual G20 Summit, where 20 nations meet, is currently underway in Osaka Japan. The major issues on the agenda are the ongoing trade war between the two biggest economies in the world, China and the U.S and the rising tensions between the U.S and Iran. This tension could threaten global oil supplies. According to Bloomberg the meeting may ‘set the direction for the global economy and make the difference between war and peace in geological hotspots.’ The meeting between U.S President Donald Trump and Russian President Vladimir Putin has already taken place.
27 June 2019 08:16

Maria Gregoriou

Maybank Kin Eng Research has stated that Singapore will probably experience a “shallow technical recession” in the third quarter due to the continuation of US-China trade war. The trade war is most likely weighing on the state’s export activities, which is one of the most important means of monetary flow for the economy. According to Maybank Kin Eng Research, exports will see a rise of 1.3 percent this year, which is a decrease from the previous forecast, which was 1.6 percent.
25 June 2019 08:00

Maria Gregoriou

The Supreme Court rejected to hear a challenge to President Donald Trump’s tariffs on steel imports into the U.S. The case was brought forward by the American Institute for International Steel that did so on the grounds that a part of the law under which the duties have been imposed violates the U.S Constitution. The decision to set steel tariffs on steel imports was imposed in March by the U.S Court of International Trade. According to Euronews ‘Trump imposed 25 percent tariffs on imported steel and 10 percent tariffs on imported aluminum in March 2018 based on national security grounds.
24 June 2019 07:42

Maria Gregoriou

Mayoral elections were held yesterday again in Istanbul, Turkey, after the results in March were annulled because of alleged voting irregularities in the process, according to the AK Party, the opposing party. Last night’s results were the same as those in March, that Ekrem Imamoglu of the Republican People’s Party (CHP) is now the new mayor of Istanbul. This result comes as a blow to Tayyip Erdogan, whose party lost by almost 800,000 votes.
21 June 2019 07:19

Maria Gregoriou

Asian stocks slipped yesterday as fears of military confrontation in the Middle East Gulf were raised after Iran shot down a U.S military drone, according to Reuters. Tension between Iran and the U.S is already high but the fact that President Donald Trump ordered a military strike against Iran after the drone incident, and then called it off has raised the tension bar even higher. This news is in alliance with the New York Times. The following figures were released by Reuters this morning to show how the markets have reacted to the escalated political tension.
20 June 2019 07:48

Maria Gregoriou

Federal Reserve (Fed) Chairman, Jerome Powell announced in a press conference yesterday that interest rates will remain the same “but indicated that it could soon cut them as economic risks mounted and inflation remained stuck below target,” according to the New York Times. Due to continuing trade tension and slowing global economic growth, a number of officials on the Fed’s policymaking committee expect to lower rates before the end of the year.
19 June 2019 08:12

Maria Gregoriou

The social media giant, Facebook Inc, is planning to release its very own cryptocurrency, named Libra, by next year. The hope is that the Libra will be traded on a global scale in the future. According to reports by Bloomberg, Facebook has said that the goal is for the cryptocurrency to be used in everyday transactions and that Libra will not only be better than Bitcoin, but it could even one day rival the US Dollar. Alastair Marsh of Bloomberg news said that this is a “really big deal, not only for crypto but potentially for the global financial economy as well.
18 June 2019 07:18

Maria Gregoriou

According to a report by the British Chambers of Commerce (BCC) business investments across the UK are coming to a halt and the economy is forecasted to see zero growth in the second quarter. As mentioned in Parliament on Monday, the Bank of England’s forecast states that there is a one in four chance of the UK economy dipping into recession. The manufacturing sector is already in recession as stockpiles are now stagnant because Brexit has not yet been settled, with car manufacturing down five percent in the last quarter. This means that jobs and investments have been cut.
10 June 2019 07:55

Maria Gregoriou

A few months ago, predictions were that the oil market for 2020 would be the one to look out for as “many market commentators predicted that if $100/bbl-oil was going to make a comeback, it would happen in 2020,” according to Bloomberg. But the release of the first official assessment of 2020 by the International Energy Agency on Friday shows persistent surpluses could be accumulated next year. This does not indicate rising prices, which were previously predicted and the reason why investors kept a keen eye on the oil market.
7 June 2019 08:31

Maria Gregoriou

German exports fell by 0.5 percent from April 2018 to April 2019, according to the Trade Balance report released by the Statistisches Bundesamt Deautschland The overall German export value for the month of April 2019 was estimated to be 109.7 billion euros, while the value of imported goods stands at 91.7 billion euros. In contrast to German exports, imported goods increased by 2.1 percent in April 2019 year on year. “After calendar and seasonal adjustment, exports were down 3.7 percent and imports 1.3 percent compared with March 2019,” the report states.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.