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Daily Market Review – 20/04/16

Wall Street finished Tuesday with mixed results and this set the tone for early trading in Asia this morning. While the JPY The official currency of Japan is the JPY The official currency of Japan is the JPY which is also knows as the Japanese Yen The official currency of Japan is the JPY which is also knows as the Japanese Yen The official currency of Japan is the JPY which is also knows as the Japanese Yen to investors and t... More to investors and t... More to investors and t... More which is also knows as the Japanese Yen to investors and t... More got stronger against the USD The USD The USD is the official currency of the United States of America. It is the largest reserve currency... More is the official currency of the United States of America. It is the largest reserve currency... More for the first time in a few days, stock markets declined led by heavy losses in China. Crude Oil has opened the day with some downward pressure too as Kuwaiti oil workers have returned from a strike.

The U.K. will bring forward Claimant Count Change numbers today. The GBP The GBP The GBP is the official currency of the United Kingdom. The GBP is a major currency and currently ra... More is the official currency of the United Kingdom. The GBP is a major currency and currently ra... More has done better against the USD in FX the past week. However, it has seen a bit of a sell off thus far on Wednesday. American data has been rather lacklustre, housing numbers led by Building Permits turned in disappointing results yesterday in the States and Existing Home Sales figures are on the schedule for today. The Brexit vote that is edging closer continues to have an effect on the GBP and the result is still expected to be close. Trading for the Sterling The GBP is the official currency of the United Kingdom. The GBP is a major currency and currently ra... More remains very opportunistic via trends and reversals.

Tomorrow the ECB The European Central Bank The European Central Bank, ECB The European Central Bank, ECB, is the Central Bank of the European Union and sets the monetary poli... More , is the Central Bank of the European Union and sets the monetary poli... More , ECB, is the Central Bank of the European Union and sets the monetary poli... More will hold their Minimum Rate announcement, but it is unlikely for Mario Draghi to make any major changes to monetary policy When used by traders and investors monetary policy When used by traders and investors monetary policy When used by traders and investors monetary policy usually refers to Central Bank policy concerning ... More usually refers to Central Bank policy concerning ... More usually refers to Central Bank policy concerning ... More on Thursday. The European Union economy is certainly still struggling with stagnation The term stagnation The term stagnation The term stagnation in economics means a period of time in which an economy is achieving little grow... More in economics means a period of time in which an economy is achieving little grow... More in economics means a period of time in which an economy is achieving little grow... More , but the ECB may be tempted to take a ‘spring break’ and have a wait and see approach for economic data.

The U.S. is a key factor in the broad markets because of quarterly earnings, but Crude Oil may in fact bring about rather cautious sentiment if the price should go lower today. One of the reasons the China stock markets sunk this morning is reportedly due to murmurs that the Chinese government is going to hold off on further stimulus for the time being.

GBP/USD chart this morning approximately 7.00 GMT, 20 April 2016

GBP/USD chart this morning approximately 7.00 GMT, 20 April 2016