Forex Market View for July 11, 2016, Japanese PM Shinzo Abe
Japan has given a super-majority to those parties that want to change the constitution, relaxing the restraints on the military. Japanese PM Shinzo Abe confirmed a fresh round of extra economic stimulus measures to be announced tomorrow.
A big Upper House win for the LDP opens the path to further fiscal easing and more structural reform, and the Nikkei is cheering loudly.
Conservative Party member Andrea Leadsom has pulled out of the race to be UK’s Prime Minister.
UK’s outgoing-PM David Cameron noted that the focus should remain on trade and investment as the British economy faces massive productivity challenge.
Angel Merkel says she expects Article 50 to be invoked soon after the election of a new British Prime Minister.
WTI crude oil has managed to recover some lost ground and has now moved back into positive territory to currently trade around $45.10-15 band.
US Dollar Index, is extending its rally at the beginning of the week, currently navigating the mid-96.00s.
EUR/USD has managed to regain the 1.1050 area after bottoming out in the 1.1020/15 band earlier in the session.
GBP/USD rose briefly above 1.3000 amid news Theresa May is set to be confirmed as leader of the UK’s Conservative party and Prime Minister, after Andrea Leadsom pulled out of the leadership contest.
EUR/GBP pair caught up with renewed buying interest, lifting the pair to session high level of 0.8580 before retracing few pips to currently trade around 0.8550 region.
To learn more please visit www.clmforex.com
Trading Forex and Derivatives carries a high level of risk, including the risk of losing substantially more than your initial investment. Also, you do not own or have any rights to the underlying assets. The effect of leverage is that both gains and losses are magnified. You should only trade if you can afford to carry these risks. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary
The post Forex Market View for July 11, 2016 Japanese PM Shinzo Abe appeared first on Binary Options Core.
