Contributors Fundamental Analysis MARKET WRAP: BOE Isnt Ready For No Deal; Gold Continued Its Drop

MARKET WRAP: BOE Isnt Ready For No Deal; Gold Continued Its Drop

*Mark Carney isn’t willing to assume a deal Brexit scenario *Dollar index is on fire ahead of the US NFP data

Stocks

  • The S&P 500 Index rose despite the fact the ISM manufacturing number confirmed weakness. It gained 0.47% of its value as of 15:32 London time.
  • The Stoxx Europe 600 Index lost its momentum as investors remained cautious due to the weakness in the economic data.
  • The UK FTSE fell off the cliff as the BOE failed to restore confidence. It lost 0.39% of its value.

 Currencies

  • The Dollar Spot Index climbed ahead of the US NFP data and another high of the week today. It scored 0.21%.
  • The Euro moved lower by 0.60%.and made a low of 1.1027.
  • The British pound declined another 0.84% and broke below the key level of 1.21, it recorded a low of 1.2080.
  • The Japanese yen moved higher by 0.26% to 108.32.

Bonds

  • The Yield on 10-year Treasuries dropped by two basis point to 1.98%.
  • Britain’s 10-year yield fell to 0.59%.

Commodities

  • West Texas Intermediate crude moved lower due to the trade war concerns and 2.83% to $56.93 a barrel.
  • Gold price continued its down trend  after the Fed’s monetary policy decision. It fell 0.90%.

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