European Market Update – Video Analysis

European Market Update – Sterling is back under the cosh, presently showing an average 0.3% decline versus the dollar, euro and yen. Cable is trading under 1.2600 for the first time since April 18.  This extends declines seen yesterday after BoE Governor Carney pushed back against the hawks at the MPC.  Weakness also in Crude prices  which are off by 3.1% at fresh lows, by the WTI benchmark measure, at $43.03. This is a new seven-month low. The global oversupply narrative is back in the ascendant, with reports of rising production out of Libya and Nigeria.


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Stuart Cowell

Senior Market Analyst


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