Flat trading to start the week

20 February, 2018

Grace Rae

Yesterday’s trading day was particularly stagnant with the markets appearing very flat and closed the day pretty much where it opened with no major data release out to note to cause any kind of movement. Markets in Hong Kong, China and the US were all closed yesterday too which likely contributed to the muted movements. Today is again set to be another quiet day in terms of data. This morning the EuroZone publish their economic sentiment figure and post-consumer confidence data in the afternoon.

The subject of Brexit in the news is likely going to be the driving factor in the markets over the coming weeks, as various cabinet members are set to deliver speeches to shed light on the UK’s current position on the subject. As news is released about the direction of trades talks there is every chance that investors will react and the Pound move either positively or negatively as a result.

With the current levels holding steady it may be wise to consider getting your funds secured sooner rather than later. When the market is stagnant it tends to break out and change course. Is it worth risking making your requirement particularly for Euros more expensive by waiting for that break out to happen? Remove the risk and give us a call today to discuss the options we provide to help you.

In other news

Overnight the Reserve Bank of Australia released the meeting minutes for their latest monetary policy meeting and was in line with expected forecasts so not a massive market mover.

Last week South African President Jacob Zuma resigned resulting in the Rand strengthening and making it almost 4% more expensive since the beginning of the month. With lots of government change, and 2018 budget announcement due on Wednesday, there is every possibility we could see more movement.