A Sigh Of Optimism for Markets As Lira Recovers

On Monday the Markets were churning with the demise of the Turkish Lira the worlds 17^th economy. However, after almost 15 hours President Erdoğan and the Turkish Central Bank provide a band-Aid to avert the crisis, temporally the Lira surges to early Tuesday bringing some optimism back to the markets. President Trump and President Junker’s agreement to conclude on a Fairtrade with possible zero tariffs also seems to soothe investors well.

Global Stocks:

Global Markets were mixed to the upside. Except for the Chinese market which hit a snag prompted by a drop in Real Estate, Services, and Tech Earnings. Other markets were fairly bullish. European Markets are rallying with the Turkish crisis halted. There also a batch of 118 companies delivering their reports today.

• Germany 30: Rose by 0.60% by 0815 GMT. To 12,431.79. and ranging from 12,419.56 – 12,460.90.
• UK100: Was up 0.24% at 7,661.25 Oscillating between  7,646.25 – 7,668.15.
• Italy 40:  Is rallying, found 0.58% increase trending  from 21,045.00 – 21,125.00.
• France 40: Chimed in the hawkish momentum rising up 0.47% at the time of print 08:15 GMT. To 5,437.68 with highs current capped at 5,447.93 -5,427.04

Currencies:

A sigh of relief for Emerging Markets as currencies calibrates in tandem with the throng of events due today, on the docket are GDP reports from Germany, EU as well as The US. Ahead of the economic reports, EUR was seen rallying.

• EUR/USD Was up earlier ranging between  1.1365 – 1.1433 with a 0.07% rise Analysts suggest uptrends may be capped should any of the economic releases today disappoint expectation.
•  USD/JPY  has been stuck between the 110-111 ranges for several days with the JPY up. However today The USD is bullish vs the Yen as investors move to riskier assets away from the safe heavens. The pair were found trading between 110.60 – 111.15 up 0.23%
• AUD/USD  Is bearish ranging from 0.7253 – 0.7283 and down 0.17%
• GBP/USD Rebounds however still below the 1.28 threshold. Investors remain skeptical on the Brexit saga. Meanwhile, the pair is bullish oscillating between 1.2754 – 1.2827. With an increase of 0.05% Should the economic reports on claimant Count change, employment Change, and average earnings disappoint the GBP may reverse gains.

Commodities:

• Most of the commodities were hawkish Tuesday morning. Even Gold rallied 0.21% to 1201.40 in a range from 1,199.20 – 1,203.00.
• XAU/USD: was spotted between 1,192.53 – 1,196.22 up 0.07% with further upside standing at 1,194.72.
• WTI Oil also rose ahead of today’s API Oil Stockpile report. Rumors suggest a decline which could affect prices negatively.  Crude Oil was found up 0.95%  in a range of  67.34 – 68.00 at 67.84 at the time of print.

Cryptocurrencies;

Once again the Cryptos are experiencing “market diarrhea” in selloff mood.  Reflecting on previous posts. It can’t be helped but to assume CEO of Bitmex, knew something when he stated BTC may drop to 5k before surging to $50k by the end of the year.  Currently, BTC is down -8.02% at 5,995.2. Oscillating between 5,858.6 – 6,499.0

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