• US stocks recover after moving lower; GM shares plummet 
  • Oil exhibits volatile trade after large DOE draw
  • Crypto markets pullback as Binance looks to S. Korea
  • Fundamental overview of Silver
  • Can the ECB revive the Euro?

There was a notable move lower in indices around lunchtime following the latest abrasive tweet from US president Trump on trade. The message also coincided with a cautious tone from GM on their future profits which has seen shares in the automaker plunge by their most in a day since 2011. However, while GM remains firmly lower at the end of the European session, indices have recovered, led by the US100 ahead of tonight’s Facebook earnings release. 

There’s been some volatile trade in the price of crude in the last hour or so, after the market surged higher initially following a large drop in the latest US inventory figures before sellers stepped in and sent the market sharply lower. As the dust settles it appears the overall reaction remains mixed, with tonight’s closing level worth watching as an indication of how longer term the market is set.  

Bitcoin has been rising strongly of late, with the market surging higher, but today looks to end the winning streak with price lower by around 3%. The drop in the market leader can be felt elsewhere with all 5 crypto markets actually in the red at the time of writing. In terms of news today, the most eye catching is that Binance, one of the largest cryptocurrency exchange in the world, wants to enter the South Korean market.

Silver prices, like other precious metals, have not performed well of late. How does the fundamental backdrop of the silver market actually look? The answer is not unequivocal. We look more closely at the market here.

 The ECB meeting is usually one of the most important events for the EURUSD. It was the case last time around when the Bank hammered hopes for the interest hike and the euro was hit hard. With the bar of expectations lowered substantially, can the Bank turn things around? A preview of tomorrow’s event can be found here.