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12/05/2017
Press Review
Dukascopy Bank SA, Route de Pre-Bois 20, International Center Cointrin, Entrance H, 1215 Geneva 15, Switzerland tel: +41 (0) 22 799 4888, fax: +41 (0) 22 799 4880 [email protected]
07:30 GMT, Friday, May 12, 2017
►►► Economy
The Guardian ► Bank of England warns Brexit vote will damage living standards The Bank of England has warned households that living standards will fall this year as the effect of the Brexit vote works its way through to higher prices and meagre pay deals. The New York Times ► U.S. Strikes China Trade Deals but Leaves Major Issues Untouched The United States has reached a set of trade deals with China covering areas like electronic payment services, beef and poultry, compromising on some Obama administration stances but leaving untouched bigger issues that could still complicate relations between the two major trading partners.
►►► Politics Bloomberg ► Trump Says He Planned to Fire ‘Showboat’ FBI Chief All Along President Donald Trump said he would have fired former FBI Director James Comey, who he called a “grandstander,” no matter the recommendation from two top Justice Department officials, contrasting with earlier White House assertions that he was merely accepting their advice. Deutsche Welle ► Turkey once again warms to EU accession Germany's move to grant political asylum to purged Turkish military officers complicates Ankara's effort to join the EU. But Turkey's minister for the bloc maintains there's "no question" of cutting ties with Brussels.
►►► Opinions Jon Finer ► U.S. Can Take a Lane on China's New Silk Road While Washington is preoccupied with talk of a potential trade war with China and real war on the Korean Peninsula, Beijing is preparing for a different conversation about the future of Asia. Martin Kettle ► The problem with Labour’s manifesto isn’t the ideas, it’s the credibility How seriously should one take the Labour manifesto? In a serious election it ought to matter a lot. Yet everything about Labour at the moment – the manifesto included – reflects the sleepless battle for control of the party, rather than any serious engagement with non-Labour Britain.
►►► Currencies FXStreet ► GBPUSD: holds minor support at 1.2860/55 for a bounce to 1.2895 GBPUSD holds minor support at 1.2860/55 for a bounce to 1.2895. Bulls still remain in control so we could target 1.2920/10 then 1.2930/35. If we continue higher look for 1.2965/60 & 1.2985/90 highs. Action Forex ► Dollar Firm as Markets Look into US CPI and Retail Sales Dollar remains the strongest major currency for the week as markets await a bunch of key economic data from US. The list include CPI which is expected to slowed to 2.3% yoy in April. Core CPI is expected to be unchanged at 2.0% yoy.
►►► Markets Market Watch ► Oil poised to gain more than 3% this week as hopes grow over OPEC resolve Crude-oil prices held steady on Friday, though they are poised to end the week more than 3% higher as traders expect the global oil cartel to extend a production cut deal when the group meets later in the month. The Economic Times ► Gold steady on US political uncertainty; but heads for 4th weekly loss Gold prices held firm on Friday on political uncertainty in the United States, but were set for their fourth straight weekly loss due to expectations of an interest rate hike by the US Federal Reserve in June.
►►► Top Videos
CNBC ► OPEC, US happy to continue producing oil: Expert Jonathan Barratt, CIO of Ayers Alliance Securities, says markets expect economic growth to absorb additional supply in the oil markets. Bloomberg ► Principal's McCaughan Sees U.K. Exit From EU as Troubled Jim McCaughan, chief executive officer at Principal Global Investors, discusses the BOE's policy decision, Brexit negotiations and the new bank resolution rules.
Dukascopy Bank SA, Route de Pre-Bois 20, International Center Cointrin, Entrance H, 1215 Geneva 15, Switzerland tel: +41 (0) 22 799 4888, fax: +41 (0) 22 799 4880 [email protected]
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