Market Recap – Munich Security Conference

The three day Munich Security Conference begins today. Libya, Yemen, Syria, India’s lockdown of Kashmir, US-Iran relations and China’s military assertiveness in the South China Sea will be discussed. North Korea will send a delegate for the first time.

Yesterday’s GBP reaction to the Cabinet reshuffle followed the book. GBP strengthened by another 90pips as noted in yesterday’s Market Recap.

The US charged Huawei with racketeering and conspiracy to steal trade secrets. Tesla will recall 3K Model X SUVs in China, and 15K vehicles in North America.

Macro releases:  Yesterday’s US inflation decreased to 0.1%m/m. Markets are seriously pricing a 2020 FED rate cut, that could come as early as June. Earlier today, the German GDP q/q decreased to 0.0%. Following the last week’s German Industrial production (-3.5% m/m) release, and European Retail sales (-1.6%m/m) macro releases are not helping the EUR. The current EURUSD level is the same as it was, when Emanuel Macron managed to come first at the fisrt round of French Presidential Election on 23 April  2017.

Today’s economic calendar includes the European GDP q/q, European trade balance, the US retail sales, US inflation expectations and US capacity utilization rate.

CopyTrade at ZuluTrade


The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.