Daily Update - 08th Feb 2017
Australian Central Bank kept Interest Rates unchanged leading to a float of AUD currency across the board. The Euro face a major selloff due to European Political uncertainty. To mention few, it started from French Presidential Elections which will be held on April 23rd . Marine Le Pen the leading candidate who is running for the presidency of France has put down her 144 to-do-list. She states that if she gets elected in the upcoming elections, one of that majorly looked upon is that “Exiting from European Union” is considered as a top priority of her propaganda and to take control of their immigration inflows of the country. In terms of GBP, it fell sharply due to parliamentary debate’s which favored the BREXIT and to revoke any legislation which forces them to be with EU. There has been heated debate going on from both parties in the parliament of UK. Investors have high expectations for the Rate Hike decision which will take center stage in the upcoming weeks which is the main cause of the Short Term recovery of GBP. The USD Index has rose by 0.6% yesterday after a stronger USD buying session kicked off with the above political uncertainty in other markets. US Consumer Credit change US Consumer Credit Change is the report which gives us an insight on the borrowing trends of individuals of the country. Investors will be watching the markets closely for further insights on the Political Uncertainty of EU and UK BREXIT parliamentary debates. Yesterday’s Market
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