Mark Carney’s speech

Bank of England Governor, Mark Carney, will deliver a speech at 07:30 GMT today and since Carney has more influence over the value of the sterling, this event should not be missed. His comments can also generate clues on short-term positive or negative trends for the pound and investors expect clarity on his concerns about inflation. The finance minister Philip Hammond is also set to speak just a day after Britain and the European Union met for the first time in Brussels.

source: Reuters, adamsmith.org

Asian equities traded near a two-year high today supported by a rebound in U.S. hi-tech shares. Japan’s Nikkei 225 rose by more than 1 percent, while European shares extended gains and Germany’s DAX is expected to rise by 0.2 percent from Monday’s record high closing. Britain’s FTSE 100, on the other hand, is seen up by 0.1 percent. Wall Street indices were also quoted at record high after sudden falls earlier this month.

After several incidents held in the past months, Google stated that it would tighten its measures to identify and remove any terrorist and extremist content on YouTube. Even Facebook has stated the same on Thursday to remove terrorism content on its platform. Elsewhere, crude oil futures are still trading lower, with the international benchmark, Brent, at 0.44 percent to $47.58 a barrel and the U.S. crude trading at $45.11 a barrel.

Technical Analysis

USD/JPY

USD/JPY

Yesterday, as from 11:00 UTC, the currency pair started picking up some heights as it was seen recording several bullish candles. It recorded several momentary jumps as from 15:00 UTC at 111.267 yen on Monday and it ended its session bullishly at 111.694 yen by 23:00 UTC. Today, it started losing value at 04:00 UTC and it is expected to fluctuate through the day. Japan Monetary Policy Meeting Minutes due at 23:50 UTC could impact this one.

EUR/JPY

EUR/JPY

In yesterday’s trading session, this currency pair was trading with much volatility, however, around 12:00 UTC, it started picking up some value gradually. This currency pair started Tuesday’s session on a positive note at 00:00 UTC to reach its highest level since last week at 03:00 UTC at the 124.597 level. It may fluctuate through 11:00 UTC, consider the Limits trading tool.

GBP/USD

GBP/USD

On Monday, the GBP/USD pair recorded a huge set of pullbacks as from 11:00 UTC at the 1.28049 level to close this bearish trend by 15:00 UTC at the 1.27414 level. However later, around 18:00 UTC, it gained some strength on the forex market. Today, the asset hiked as from 01:00 UTC to record momentary jumps till 04:00 UTC at $1.27372. It may follow this uptrend through today, keep an eye on this.

Things to watch on the market

Tip 1

Assets such as the EUR/GBP, GBP/USD, GBP/JPY and the FTSE 100 index can be traded with any trading tools available on our platform as the pound can be impacted by today’s event.

 

Tip 2

Consider trading Asian and European indices today, the DAX F-JUN16 and the Nikkei 225 should not be overlooked.

 

Tip 3

The Nasdaq index can be traded as Facebook is a component of NASDAQ. Also consider trading the BRENT CRUDE OIL-APR16 once it is available on our website.