EU Daily Market Wrap - 28th May 2019

EU Daily Market Wrap - 28th May 2019

Today's Highlights

- US Consumer Confidence best number since November

- Boris Johnson remains favourite for next PM

- China 'seriously considering restricting rare earth exports to US'

Macro Review

With yesterday being a Bank-Holiday in the UK and America, the markets have woken up in a hangover state with lacklustre trade across the board. The fallout from the European elections have been fairly limited for now, as has the development in the Conservative leadership race.

Some slight Dollar strength followed the strongest Consumer Confidence number since November where Gold continued it's already downward journey to test 1275 on the Futures. There was also a couple of moments where the markets threatened to go full Risk-Off mode following a tweet (see below) but stocks have remained flat for the session at the time of writing. It would be something I would keep an eye on further into the US session however

Hu Xijin is the Editor-in-Chief of Chinese and English editions of the global Times

As you can see from the performance map below via Finviz, stocks have had a pretty mixed day.

A look ahead....

As you can see we have the API inventories tomorrow due to the US Bank Holiday but the main calendar highlight will be the BoC Interest Decision which more often that not throws up a short-term opportunity for lovers of volatility.

Also worth looking out for any further developments in the Tory leadership and what ECB's Weidmann has to say

If you missed this morning's briefing you can click HERE

Have a great evening,

Sam North - @snorth19

  • White Instagram Icon
  • White Twitter Icon
  • White Facebook Icon
  • White LinkedIn Icon
  • White YouTube Icon
  • Wechat

+44 (0) 203 372 8415

18 St Swithin's Ln, London EC4N 8AD 

© 2009 - 2020 Amplify Trading. All rights reserved.

View our Privacy Policy >