Good Morning,
Yesterday was about the ‘Proud Pound’ Mark Carney, the Governor
of the Bank of England, was unambiguous about the EU referendum; ‘Brexit’ would
lead to a loss of jobs, a fall in the value of the pound and ultimately lead to
a ‘technical recession’ - 6 months of falling growth. Has he overstepped the
mark and become a political Governor, in his role he is supposed to be
politically impartial. He believes he has the right to speak frankly about the
economy and Brexit carries the risk of recession.
Stocks – The Nikkei is down 1%, nothing specific - the news
that Nissan and Mitsubishi reached agreement lead to a surge of 16% in the
Mitsubishi share price yesterday, today it is down 4%.
Oil is having a good week opening at 46.20, this is up 7%
from the Monday open, we get the Baker Hughes Oil rig count later today
Gold opens at 1272, the range this week has been 1257 -1281.
We had Retail Sales data out of New Zealand overnight,
coming in slightly weaker than expected at 0.8% QoQ and the currency dipped
below 0.6800, 0.6793 the low.
Today in the US we get Retail Sales, Producer prices, the
Michigan consumer sentiment and business inventories.
Why is Friday 13th considered unlucky? One theory
is that Thomas W Lawson’s popular novel ‘Friday, the Thirteenth’ published in
1907 contributed to disseminating the superstition.
In the novel, an unscrupulous broker takes advantage of the
superstition to create a Wall Street panic on a Friday the 13th.
Good Luck today and enjoy your week end.
Anish S. Lal – VP Sales
FX & Precious Metals, Atom8
Financial Services LLP
2nd Floor, Centenary House, Palliser
Road, London W14 9EQ, UK
Risk Warning
Trading on margin (spread betting, CFDs and FX)
carries a high level of risk and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you.
Before deciding to trade your live account, you should carefully consider your
investment objectives, level of experience and risk appetite. You could
lose more than your initial investment and should not trade with funds you
cannot afford to lose. You should be aware of all the risks associated
with foreign exchange trading, and seek advice from an independent financial
advisor if you have any doubts.
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