Morning Call: Europe, Brexit and the world
Senior Editor, Saxo Bank
Summary: Saxo's brand new Q2 Outlook is now available and contains a wealth of analysis and insight into the prospects of the European and global economies. Elsewhere today, the latest showdown in the UK parliament heightens the risk of a crashout Brexit in just 10 days time.
FX Update: Powell Fed between a rock and a hard place
Markets are trading nervously, waiting Friday’s speech from Fed Chair Powell for a sense of whether the Fed is catching up the cold reality that it is no longer really in control of its policy trajectory, but can only hinder or accelerate the path toward zero rates and massive QE.
FX Update: Trade tensions still driving the narrative
Even with threats that China is set to announce retaliatory measures, the market is trying to maintain calm, hoping a Trump-Xi call will help. Still our measures of Global risk suggest strains are near their recent worst levels for the cycle. EURUSD has reached pivotal level near 1.1100.
Saxo Capital Markets (Australia) Pty Ltd prepares and distributes information/research produced within the Saxo Bank Group for informational purposes only. In addition to the disclaimer below, if any general advice is provided, such advice does not take into account your individual objectives, financial situation or needs. You should consider the appropriateness of trading any financial instrument as trading can result in losses that exceed your initial investment. Please refer to our Analysis Disclaimer, and our Combined Financial Services Guide and Product Disclosure Statement. All legal documentation and disclaimers can be found at https://www.home.saxo/en-au/legal/.
Saxo News & Research is provided for informational purposes, does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. No Saxo Bank Group entity shall be liable for any losses that you may sustain as a result of any investment decision made in reliance on information on Saxo News & Research.
To the extent that any content is construed as investment research, such content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication.
Please read our disclaimers:
- Full Disclaimer (https://www.home.saxo/en-au/legal/disclaimer/saxo-disclaimer)
- Analysis Disclaimer (https://www.home.saxo/en-au/legal/analysis-disclaimer/saxo-analysis-disclaimer)
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)