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.
Open account
☰
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.
Open account
✖

G20 comments add volatility ahead of UK inflation report

Article By: ,  Financial Analyst
February 13, 2013 9:01 AM

AUD was the standout performer in the Asian session following a robust consumer confidence reading. The Westpac consumer sentiment rose to 7.7% from the previous reading of 0.6%, with the components showing confidence in the housing market following the previous RBA rate cut and optimism from the global growth picture. The lifestyle currency is up 50 points from the New York close.

The UK inflation report at 10.30am this morning is likely to be the highlight of today. The old lady is likely to set a balanced tone following incoming Governor Carney’s comments last week highlighting a policy dilemma of weak growth and above target inflation whilst keeping further stimulus measures on the table. The subsequent press conference is likely to determine the near term direction for sterling.

The upcoming G20 and ‘currency wars’ comments are causing day traders a lot of pain with conflicting comments. The G7 statement yesterday called for “fiscal and monetary policies that will not target exchange rates”, with following comments from unnamed officials somewhat disputing this as “the G7′s statement signalled concern about excess moves in the JPY” and “Japan will be in the spotlight at the G20 in Moscow this weekend.”

Data from across the pond this afternoon consist of retail sales, MBA new mortgage applications and business inventories.

 


EUR/USD

Supports 1.3430-1.3405-1.3350 | Resistance 1.3475-1.3500-1.3525


USD/JPY

Supports 92.80-92.15-91.40 | Resistance 93.50-94.45-95.00


GBP/USD

Supports 1.5630-1.5550-1.5485 | Resistance 1.5715-1.5760-1.5830

 

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

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. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024