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> Market Review - Fundamental Perspective - 17 May 2018
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Market Review - Fundamental Perspective - 17 May 2018

PCM Enterprise - Development Firms

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US equities performed well yesterday, despite North Korea’s threats to cancel the Kim-Trump meeting. Attention was also on US 10y Treasury yields which continued to rise up to 3.09%; this was however not enough to support the USD and the USD Bloomberg Spot Index closed lower
GBP gained against its G10 peers on headlines (Telegraph) that the UK would be willing to stay in the customs union after Brexit. However, Reuters headlines this morning cite a Government source dismissing yesterday’s claims on the customs union; further clarity needs to be awaited
Our traders currently see GBPUSD support at 1.3450 and resistance at 1.3570 ahead of 1.3625. EURGBP support comes in at 0.8690-0.8715, while resistance lies at 0.8790
Italian sovereign bonds, equities and periphery CDS fell on reports (Huffington Post) that Lega and 5SM propose a write-off of sovereign debt held by the ECB if they manage to form a government
EURUSD came under pressure as well, falling to new YTD lows of 1.1764, but retracing some of the losses afterwards when Lega economic advisor Claudio Borghi denied such a proposal. 5SM reportedly announced that further details will be provided this weekend

PCM Enterprise - Development Firms Review

Source: https://myforexforums.com/showthread.php/1184-Market-Review-%E2%80%93-Fundamental-Perspective?p=34138&viewfull=1#post34138
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