Navigate Up
Sign In

Brexit and soft Chinese data sour risk sentiment

Posted on: June 13, 2016

Risk-off this morning with three more EU Referendum polls released over the weekend, one showing a 10pt lead for the leave camp with mixed results for the other two. The pound took a pounding as it trades weaker against all currencies. With Brexit concerns in the background, the release of soft Chinese data overnight put risk on its back foot. Commodities and risk sentiment are taking a hit. WTI hit a low of 48.16 early in the morning after trading the 51 handle last week. SP500 could not break through the all time high and is trading 2% down from last week’s high.

We got a busy central bank schedule this week with FOMC kicking off on Wednesday and Bank of Japan and Bank of England on Thursday. Given the concern of Brexit and June hike almost completely off the table, the FOMC might be a non-event.

Liquidity is definitely not there given the jitteriness of market participants because of Brexit evident by 1 month GBPUSD volatility trading at 27 instead of the usual 8 to 10 range. Market will probably remain on the sideline till all the central bank announcement but expect FX to be volatile within the recent ranges.

Good luck trading!

  • Previous Day’s NA Range: 1.2660- 1.2781
  • Asia overnight range: 1.2771 – 1.2810
  • London overnight range: 1.2763 - 1.2799


Most Recent Market Updates

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

Crude prices slide $0.19

Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

Natural gas loses 5 cents

Cold weather emerged over the long weekend in the US Midwest to East as anticipated.


Talk to a specialist

GlassdooreSSENTIAL Accessibility™Diversity and Inclusion

About ATB | Contact Us | Find a Branch or ABM | Current Rates | Privacy and Security | Legal | Code of Conduct | Site Map | Supplier Resources

©ATB Financial 2019. All rights reserved. ATB Financial is a trade name/registered trademark.

ATB Financial