1. Thomas Cook Shares Plummet by 40%
Shares of Thomas Cook Group (TCG) plummeted as much as 41% on news that the travel company is in talks over a £750m rescue package that would give its Chinese investor Fosun a majority stake in the company’s tour operator business.*
2. EU Bourses Wobble
European stocks traded mixed on Friday morning following a negative close yesterday after a call from the International Monetary Fund (IMF) warned that the eurozone economy faces rising risks from trade tensions, Brexit and Italy. Auto stocks struggled on the back of a profit warning from German carmaker Daimler.**
3. Dollar Slides
The USD is fading out once again coming back lower again ignoring the uptick in the CPI. Fed Chair Jerome Powell’s dovish statements this week hurt the dollar, with USD traders now focusing on the US/China trade talk developments for more direction on the greenback.***
4. EUR Higher
The EUR is on its 2nd consecutive daily attempt to push beyond the 1.1270 upwards and close above it. Against the TRY the EUR was last seen trading 0.7% higher as the Turkish Lira remained subdued on the recent dismissal of Turkery’scentral bank governor, Murat Cetinkaya. Watch for the US producer prices today on an otherwise rather uneventful calendar.***
5. Gold Steadies
Gold prices steadied this morning and are on track to post a weekly gain, on global growth jitters and prospects of an interest rate cut by the U.S. Federal Reserve. XAU/USD also reacted mildly to the CPI out of the US and is holding at elevated levels eyeing further possible increases. ****
6. Oil Prices Rise
Oil prices rose today, hovering near six-week highs, as U.S. oil producers in the Gulf of Mexico cut more than half their output in the face of a tropical storm and on simmering Middle East tensions. Crude is holding at the $60,80 level and might be in for a break to the upside if the USD weakness prevails also since 53% of the US Gulf oil production was shut down due to a storm which should also impact oil stocks in the coming week and help oil prices further up.*****
You can find and trade CFDs on all of the above-mentioned assets on BDSwiss Forex/CFD platforms.
Sources:
*FXStreet Jul 12, 2019 03:07 AM ET
**Reuters Jul 12, 2019 3:53 AM ET
***CNBC Jul 12, 2019 2:48 AM ET
****Seeking Alpha Jul 12, 2019 7:33 AM ET
*****Investing Jul 12, 2019 6:25 AM ET
