TRY experiences wild price swings today
AUD tries to pare yesterday’s weakness
Oil traders await weekly DOE report on inventories
Global stock markets seem to be weighted down by uncertainty after North Korea announced that it will not give up its nuclear programme so easily. Majority of the European stock indices are posting declines on Wednesday. On the FX front we have Antipodean currencies as top gainers while EUR and SEK are the biggest underperformers. Turkish lira is in the spotlight today after CBRT remarks concerning monetary policy. Gold and silver are trading flat while oil prices decline.
Until today there were really big names which decided to crack down on cryptocurrency-related ads including Google, Twitter or Facebook. It turns out that it isn’t the end of the trend as Bing, the search service owned and operated by Microsoft, is going to follow in their footsteps.
A more clear vision of the post-Brexit Europe may be presented soon as the UK Prime Minister Theresa May set a deadline for her cabinet to provide a white paper. The document focused on the post-Brexit relationship between UK and EU is said to be released in June.
In the morning we do not see larger moves across the FX space and Asian stocks either. Over the past hours investors’ attention was paid to Japan from where the first quarter GDP calculations were released.
API report has shown a significant build of 4.85 mb against expected 1.5mb drop. In turn we can see long upper wicks on both WTI and Brent when we take a look at the daily chart as the major build signalled by API helped erase yesterday’s gains.