26 July, AtoZForex – Interesting start to the week with major moves seen on the yen, oil amongst others. Looking at the daily Forex News and trade opportunities, the CB Consumer Confidence from the US is one of the major events for the day.
G20 Post Brexit plan
During the G20 meeting, which took place this weekend in Chengdu, finance ministers and governors of central banks primarily discussed the G20 Post Brexit plan. Alongside, a broad consensus was reached on the aim to facilitate global growth as well as trade benefits.
Fed policy expectations
Speaking of the US dollar, the currency has gained strongly in the past few weeks, buoyed by upbeat data and higher expectations of rate hikes.
Opportunity: Sell EURUSD on rate hike
Verizon Yahoo acquisition confirmed
In what can be somewhat regarded as the tech deal of the year, Verizon has officially confirmed the acquisition of Yahoo for $4.83 billion.
CB Consumer Confidence
The consumer confidence figure is forecast for a drop from 98 to 95.6 this month. A better than expected report will, however, have a more reasonable effect on the dollar, since the greenback has been on some good strength in recent weeks.
Opportunity: Buy USDCAD on better than expected report
Deutsche Bank tangled in new US lawsuit
A US judge said Deutsche Bank must face part of a lawsuit and possibly take responsibility for defrauding investors who bought $5.4 billion of preferred securities by concealing its exposure to the fast-deteriorating subprime mortgage market.
BOJ policy expectations
As for the JPY outlook and the Bank of Japan’s policy stance, it will be another key week. The yen has been driven lately by anticipation of helicopter money as well as the re-election pf prime minister Shinzo Abe and the continuation of Abenomics.
Nintendo shares tumbled
Concluding the daily Forex News and trade opportunities, shares of Nintendo tumbled dipped about 18% after the company said its latest hit mobile game Pokemon GO would have only a limited impact on its earnings.
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