MARKET BRIEFING – LONDON OPEN 21.10.2015
Posted: Wed Oct 21, 2015 5:28 amMORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 21.10.2015
The Canadian Liberal Party has been elected to power on an anti-austerity programme. With Greece having elected the leftist SYRIZA Party to power and with the British Labour Party also electing a traditional leftist leader in the shape of Jeremy Corbin, it would appear that there is a groundswell of opinion forming in many developed countries that reject the accepted mantra that austerity is the only medicine that can bring sustainable growth and jobs.
The real test for global populist left-leaning movements will happen later this year when the Spanish public vote in a general election that takes place on December 20. The fear within the corridors of European power that are located in Brussels, Frankfurt and Berlin is that the charismatic leader of Podemos, Mr Pablo Iglesias could cause enough damage to the traditional Spanish political parties that a seismic shock that is centred in Madrid ripples across the whole of the European Union.
After ten years of rule by the Conservatives, the citizens of Canada decided that a change was needed. This change was made with the young and charismatic leader of the Liberal Party Mr Justin Trudeau sweeping to power with a 54% landslide victory.
Mr Trudeau who comes from a political dynasty is the son of the former Prime Minister has vowed to increase public spending and invest in infrastructure as part of a plan to boost demand and growth in what has been a flagging economy.
With respect to taxation, the Liberal Party manifesto has identified wealth inequality as an issue and plan to address this problem by increasing taxes on the wealthy and reducing them on the middle classes.
The scale of the victory gives the Liberal Party a strong mandate. Governments are not known to be good at spending public money. This new Canadian experiment that promises fiscal stimulus will be watched closely by other developed nations.
EURUSD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.1435
Target 2: 1.1260
Projected range in ATR’s: 0.0090
Daily control level: 1.1300
GBPUSD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.5540
Target 2: 1.5340
Projected range in ATR’s: 0.0103
Daily control level: 1.5410
USDJPY
The intraday technical outlook
Trend 1 hour: Up
Target 1: 120.15
Target 2: 118.80
Projected range in ATR’s: 0.70
Daily control level: 119.40
USDCHF
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.9640
Target 2: 0.9480
Projected range in ATR’s: 0.0081
Daily control level: 0.9495
USDCAD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.3080
Target 2: 1.2875
Projected range in ATR’s: 0.0106
Daily control level: 1.2900
AUDUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 0.7340
Target 2: 0.7175
Projected range in ATR’s: 0.0084
Daily control level: 0.7310
GOLD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1191.50
Target 2: 1160.00
Projected range in ATR’s: 16.05
Daily control level: 1167.15
OIL
The intraday technical outlook
Trend 1 hour: Up
Target 1: 47.70
Target 2: 44.00
Projected range in ATR’s: 1.76
Daily control level: 45.75
MORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 21.10.2015
The Canadian Liberal Party has been elected to power on an anti-austerity programme. With Greece having elected the leftist SYRIZA Party to power and with the British Labour Party also electing a traditional leftist leader in the shape of Jeremy Corbin, it would appear that there is a groundswell of opinion forming in many developed countries that reject the accepted mantra that austerity is the only medicine that can bring sustainable growth and jobs.
The real test for global populist left-leaning movements will happen later this year when the Spanish public vote in a general election that takes place on December 20. The fear within the corridors of European power that are located in Brussels, Frankfurt and Berlin is that the charismatic leader of Podemos, Mr Pablo Iglesias could cause enough damage to the traditional Spanish political parties that a seismic shock that is centred in Madrid ripples across the whole of the European Union.
After ten years of rule by the Conservatives, the citizens of Canada decided that a change was needed. This change was made with the young and charismatic leader of the Liberal Party Mr Justin Trudeau sweeping to power with a 54% landslide victory.
Mr Trudeau who comes from a political dynasty is the son of the former Prime Minister has vowed to increase public spending and invest in infrastructure as part of a plan to boost demand and growth in what has been a flagging economy.
With respect to taxation, the Liberal Party manifesto has identified wealth inequality as an issue and plan to address this problem by increasing taxes on the wealthy and reducing them on the middle classes.
The scale of the victory gives the Liberal Party a strong mandate. Governments are not known to be good at spending public money. This new Canadian experiment that promises fiscal stimulus will be watched closely by other developed nations.
EURUSD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.1435
Target 2: 1.1260
Projected range in ATR’s: 0.0090
Daily control level: 1.1300
GBPUSD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.5540
Target 2: 1.5340
Projected range in ATR’s: 0.0103
Daily control level: 1.5410
USDJPY
The intraday technical outlook
Trend 1 hour: Up
Target 1: 120.15
Target 2: 118.80
Projected range in ATR’s: 0.70
Daily control level: 119.40
USDCHF
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.9640
Target 2: 0.9480
Projected range in ATR’s: 0.0081
Daily control level: 0.9495
USDCAD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1.3080
Target 2: 1.2875
Projected range in ATR’s: 0.0106
Daily control level: 1.2900
AUDUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 0.7340
Target 2: 0.7175
Projected range in ATR’s: 0.0084
Daily control level: 0.7310
GOLD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 1191.50
Target 2: 1160.00
Projected range in ATR’s: 16.05
Daily control level: 1167.15
OIL
The intraday technical outlook
Trend 1 hour: Up
Target 1: 47.70
Target 2: 44.00
Projected range in ATR’s: 1.76
Daily control level: 45.75
MORE ON ACFXblog.com