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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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FX Brief Signs Of A Global Slowdown Continue To Appear

Article By: ,  Financial Analyst
July 17, 2019 2:20 AM

FX Brief: Signs Of A Global Slowdown Continue To Appear


  • Signs of a global slowdown continue to appear with Singapore’s exports sinking to their lowest level since February 2013 at -17.3% YoY (-7.6% MoM). This follows on from Q2 GDP contracting and raises the potential for a technical recession.
  • WTO appeal’s judges ruled that the US didn’t fully comply with a previous WTO ruling and could face Chinese sanctions.
  • Volatility remained calm across asset classes (even Bitcoin) which saw FX pairs confined well within their typical daily ranges, following a relatively turbulent US session.
  • GBP/USD remains just off 25-month lows, WTI trades in a small range below $58 after its most bearish session in -weeks, gold continues to coil around $1400. CHF and GBP are the strongest majors, NZD and EUR are the weakest, but difficult to look too much into this given the small ranges.

Up Next:

  • GBP is already in the doldrums, but today’s inflation set could probably find a way to make it worse if it falls short of expectations. With inflation around BoE’s target, it may not be hot enough to warrant that hike, which already seems a far stretch given the dovish undertone from BoE of late.
  • Inflation for the Eurozone are final reads, so less likely to instil volatility (although that’s not to say it should be ignored).
  • Canada’s economic data has continued to excel relative to expectations, so perhaps a CPI beat is not too difficult to imagine. CAD crosses are the clear focus here.

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