The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Euro and Kiwi slide on political uncertainties
On Monday, the common currency lost after German Chancellor Angela Merkel managed to win a fourth term, although stumbled on a fractured parliament as support for the far-right grew. Meanwhile, Asian equities pulled back, suppressed by worries as for China's economy.
Besides this, the New Zealand dollar took a hit too because the ruling National Party won the largest number votes, while unable to secure a ruling majority, with a prolonged period of coalition building a possibility.
Spreadbetters expected EU equities to start moderately lower, predicting Britain's FTSE to start down 0.1%, Germany's DAX to start a bit changed as well as France's CAC to demonstrate a 0.2 tumble from the very beginning.
The common currency went down 0.2% reaching $1.1933, thus putting more distance between a 2-1/2-year maximum of $1.2092 hit on September 8, when a ECB policy gathering left currency bulls optimistic enough that the ECB would get down to tapering its huge stimulus program.
MSCI's index of Asia-Pacific equities handed back earlier moderate revenues. Last it tumbled 0.6%.
The world 11th most-traded currency, the New Zealand dollar lost 1% hitting $0.7264, showing its greatest intraday percentage dive since May.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!