Collinson Forex Daily Market Commentary

Daily Market Commentary

European inflation continued to move in the right direction, ensuring further rate cuts from the ECB this year. Inflation has been tamed by a deep and extended recession, falling to 2.5%, from 2.6%. European equity markets dipped lower as further political disruption is expected on July 4^th, US Independence Day, which the British Tory Government had decided to face the electoral music. Yet another 'woke', globalists Government is about to be decimated by the people, who reject globalism, mass immigration, inflation and recession. The medicine is likely to be more dangerous than the illness, as the likely incoming Labour Government is probably going to be far worse, if at all possible. The EUR traded around 1.0740, while the GBP pushed up to 1.2680, ahead of the election.

US Job adds expanded, against recent trends, further testing the Fed. The Fed is looking for excuses to hold off on rate cuts, so any tightening in the labour market will do that. Markets will follow Services and Composite PMI data set to be released across Asia, Europe and the US. The impact of key US employment data, will be cushioned, by the extended Independence Day holiday weekend.

Paul Bettany   I   Collinson Forex Limited    Collinson & Co.  

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