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
✖

Market Brief Mideast Tensions Remain Key Focus

Article By: ,  Financial Analyst
January 6, 2020 7:20 AM
  • Market update at 12:07 GMT: In FX, GBP and EUR were the strongest while USD and AUD were the weakest among the majors; stocks were lower but off their worst levels; gold and silver were sharply higher, and crude oil was off its best level after gapping higher at the open.
  • Today marks the start of the first full week of 2020, with more market participants coming back as the festive period ends. The new year has started with a bang in so far volatility is concerned. This is mainly due to the escalation of tensions between the US and Iran after Tump ordered the assassination of Iranian military commander Qasem Soleimani, who was killed by a drone strike in Iraq on Friday. Iran has promised "severe revenge" for the death of Soleimani and has already pulled back from the 2015 nuclear accord. The markets have reacted with crude oil spiking on concerns over further supply disruptions in the Middle East, while gold has soared past its 2019 high on raised safe-haven demand. Stocks have fallen sharply, although the downside has been limited due to expectations that the raised tensions will have minimal impact on global growth.

View our guide on how to interpret the FX Dashboard

  • EUR higher as this morning’s Eurozone data surprised with the latest services PMIs and a survey of investor confidence topping expectations. Eurozone final services PMI came in at 52.8 vs. 52.4 expected and last. German PMI was revised nearly 1 whole point higher to 52.9, while flash PMIs form Italy and Spain both came in higher at 51.1 and 54.9. Sentix Investor Confidence printed 7.6 vs, 0.7 last and 3.0 expected.
  • GBP rose as UK’s final services PMI came in at 50.0, one whole point better than the initial estimate of 49.0, which easily beat expectations of 49.1.

  • Coming up:




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