Workers at two McDonald’s restaurants in the U.K. are planning to go on strike on the U.S. Labor Day holiday, in a bid to coordinate action with allies around the world. According to the Bakers, Food and Allied Workers Union (BFAWU), the staffs of the fast food giant have chosen this date for a strike to signify the workers’ solidarity with fast food employees internationally. Workers are demanding wages of “at least £10 an hour, with guaranteed hours and formal trade union recognition from McDonald’s.” This strike is taking place with the help of organisers from the Unite union in New Zealand.
Germany is set to release its ZEW Economic Sentiment for the month of August at 09:00 GMT while the member of the European Central Bank, Constancio will deliver a speech at 12:00 GMT today. These events could affect the trend of the euro on the foreign exchange market and Constancio’s comments could generate indicators on possible direction of the monetary policy. Meanwhile, the U.S. President announced he decided to stay and “fight to win” in Afghanistan to avoid mistakes made in Iraq. This led markets impactful, affecting price of currencies and indices in early trade.
Google has released Android Oreo, the latest version of its Android mobile operating system (OS), named after Oreo chocolate biscuits. It will soon start rolling out to Google’s own Nexus and Pixel phones. Android Oreo will allow apps to be viewed in Picture-in-Picture mode, it will have a “smart copy-and-paste, a redesigned set of emojis, rounded home screen icons and much more. Otherwise, Canada’s core retail sales for June is due to be released at 12:30 GMT today, pay much attention to the Canadian dollar.
The U.S. dollar gained smartly against the Japanese yen in today’s early trade session as the U.S. President stated America would stay the course on military support to Afghanistan after 16 years. The currency pair was quoted at 109.27 yen, up by 0.28 percent from the very beginning of today’s session, around 02:00 UTC. A look at the graph of this pair depicts an uptrend for today, this can be traded with the Options Builder tool.
Asian equities traded mostly higher on Tuesday, with geopolitical concerns as Trump confirmed plans to stay in Afghanistan. The Japanese Nikkei 225 initiated its session on a positive note at 19364 points at 00:00 UTC and gained 0.07 percent across the Korean Strait. However, it started tumbling around 03:00 UTC in today’s session but it could gradually pick some strength on the market, keep a close watch on this one.
The EUR/USD pair had a choppy week when it ended slightly negative last Friday, however, it closed above the 1.1750 level, to form a supportive hammer. Monday, the currency pair gained momentum in its early trade as from 10:00 UTC, pulled by several momentary jumps to reach a record high at $1.18149 by 14:00 UTC. Today, it started dropping as from 01:00 UTC, it could follow a bearish trend, use the FX/CFD tool.
Things to watch on the market
Shares of McDonald’s can be highly impacted by this strike, consider trading on the company’s stocks.
Consider assets such as the EUR/USD, EUR/GBP, EUR/JPY, DAX F-JUN16 and Asian indices such as the Hang Seng F-AUG17, available on Classic Binary Options.
It is a good opportunity to trade on stocks of Google as it launches Android Oreo, along with the USD/CAD and the GBP/CAD, pertaining to today’s event.