29/ 09/ 2016

OPEC Makes a Surprise Deal

Mario Draghi appeared in the closed-door session in front of German lawmakers in Berlin. That must have been an interesting meeting, to say the least. However, the words that are officially released (no leaks so far) do not rock the boat. The ECB wants first to see the current measures run their course before moving again. The bond buying scheme (QE) is set to expire in March 2017, and will likely be extended, but no details for now…

28/ 09/ 2016

Draghi Faces German Lawmakers today

Day starts with changes in some major currencies like EUR, GBP, and CAD, focus of the day is going to be some major events for the day. Including Durable goods order data for the Aug. 2016 from US, ECB’s president Mario Draghi speech at 01:30pm GMT, Fed’s Yellen testifies speech at 02:00pm GMT, and to Finish of the day US will be releasing the data of  EIA Crude oil stock change Sep. 23 2016 at 02:30pm GMT. 

27/ 09/ 2016

EUR halts 4 day winning streak

The highlight yesterday was on ECB president Mario Draghi’s speech held in Brussel. After Mario Draghi’s speech the EUR/AED remained unchanged at rate of 4.13, the ECB decided to leave the rates unchanged since the IFO Germany business climate and current assessment report was positive in European market.

26/ 09/ 2016

The week ahead | Sterling ends on a low note

Friday ended the same way it opened, with Sterling once again being sold and weakening against its peers. This was due to the UK Foreign Minister, Boris Johnson speaking to the BBC. When speaking to the BBC, Boris Johnson stated that ‘the government is working towards an Article 50 letter which as you know will be produced, probably, in the early part of next year’. As a result, confidence in the Pound dropped and saw it fall across the board, throughout trading hours on Friday. Also on Friday, the Eurozone posted mixed PMI results as Manufacturing registered a better than expected figure of 52.6, whereas the Services sector fell to a 52.1 reading.