05/ 12/ 2016

ITALEXIT! Another Nail in the coffin for EU

The start of trading on Monday is expected to be an exciting one for euro traders as the results of both the Italian referendum and the Austrian elections are out. Alexander Van der Bellen has won the Austrian Election, another surprise in 2016. 

Italy has voted yes for the referendum where Prime Minister Renzi was campaigning to reduce the number of senators and limit the senate’s power relative to the lower house of parliament. Before the referendum vote the opposite party, Five Star Movement (Anti Euro Zone members) has said if they win the referendum they would hold another referendum to decide whether Italy should leave the Eurozone. 

04/ 12/ 2016

Week Ahead | Italian Referendum, Draghi in focus

The ECB’s last meeting of 2016 will be the main event of the week ahead. Although the markets will first have to look forward to the results of the weekend elections in Austria and the outcome of the Italian referendum (both on Sunday). 

Other key events this week will include the Reserve Bank of Australia rate-setting meeting as well as GDP data for the country. It will be comparatively quiet in terms of major US data, with exception of Factory orders, ISM non-manufacturing and a key speech by the New York Fed President William.

30/ 11/ 2016

Draghi speaks again today

While Friday's non-farm payrolls report is the primary focus this week, looking ahead to today we have a speech from Draghi and the GDP from Canada, however we do not expect Draghi speech to cause much of volatility as is usually.

29/ 11/ 2016

Doji candle ahead of US GDP

At a speech on Monday, ECB President Mario Draghi once again set out a case for more fiscal stimulus in Eurozone nations, stating that the ECB’s policies could not create growth alone.

Demand for the greenback across the board also drags the GBP/USD pair lower as the US dollar index jumped to 101.18, having finally broken its range-trade seen near 101 handle which in turn doesn’t look positive for USD’s opposing currencies in general. Focus now remains on the US GDP report due on Tuesday, followed by Wednesday’s OPEC decision, Thursday’s ISM Manufacturing data and Fridays Non-farm pay rolls data.