The recent improvement in UK data has seen many investors and analysts, ourselves included, ask a rhetorical question with a hint of sarcasm “Brexit, what Brexit?” Traders have apparently reduced their net short positions from record high levels as they realised the fallout in the immediate aftermath of Brexit was not as bad as many had feared. Granted, not all the economic pointers have been great but on the whole
The EURUSD pair fell significantly during the course of the session on Wednesday, forming what is essentially a “today shooting star” in this market at the 1.12 level.
The EURUSD pair initially fell during the day on Monday, but turned around to slam into the 1.10 level again.
As US equity markets continue to defy gravity and move inexorably higher, so the VIX slides ever lower as market complacency takes hold with risk on appetite continuing to remain firmly on the menu.
The EURUSD pair initially fell during the course of the session on Wednesday, but turn right back around and form a hammer.
The EURUSD pair initially tried to rally during the day on Thursday, but turned right back around to fall fairly significantly during the day.
The GBPUSD pair rose slightly during the course of the session on Tuesday, but did get back some of the gains.
The profits of China’s (ASHR, quote) major industrial firms rose 3.7 percent year on year in May, 0.5 percentage points lower than the rise recorded in April, official data showed on Monday.
Like nervous students awaiting their end of year exams, so the major US indices are all approaching new high ground with equal trepitation, with the ES emini (SPY, quote) a classic example of the tension that is now building on the daily chart.
Whilst many commodities reacted strongly to the US employment data on Friday, with a consequent surge higher on US dollar weakness,
