X-Trade Brokers - Analytics

    X-Trade Brokers

    423.50 6.25/10
    100% of positive reviews
    Real

    A test run for the Bremain outcome?

    What happened in the last minutes on the markets looked like a Bremain fire drill before the referendum results start coming this night.

    Apart from the natural reactions: positive on equity markets and on GBP (200pips in 5min?), negative on JPY as a risk-off currency we also had:

    • Gold dropping by circa 4$/oz (disappointing move given the scale of reaction in other markets - might be a sign that this commodity is loaded with anti-Brexit trades); Silver actually unable to reveres more than a third of today’s rebound
    •  Oil up by 40 cents/brl (helping CAD to see no correction after the sharp 
    • CHF showed a mixed reaction vs. EUR but managed to strengthen against USD(!) raising doubts if it can lose as much as the other ’haven’ currencies on Bremain
    • PLN (named one of the currencies most fragile to Brexit) recovered from a 3-figure losses vs. EUR seen earlier in the morning
    • EURSEK moved lower - confirmin our call that the krona’s appreciation potential could not translate to market value due to the referendum uncertainty. 
    • EURGBP volatile, but almost unchanged

     

    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree