June 26, 2019


Global Commentary

Markets fell across Asia on Tuesday as investors looked ahead to the G20 summit and a meeting between presidents Trump and Jinping that is expected to restart the trade negotiations between their two countries. Mainland China’s Shanghai Composite fell 0.87%, but over in Hong Kong the Hang Seng was the biggest loser as it slipped 1.15%. Japan’s Nikkei fell 0.43%, partially in response to Yen strength versus the U.S. dollar. In Australia the S&P/ASX 200 was little changed, ending the day 0.11% lower, while South Korea’s Kospi lost 0.22% for the day.

European markets ticked lower as investors there were preparing for the upcoming G20 summit as well. The pan-European Stoxx Europe 600 edged lower by 0.1%, while Germany’s DAX led losses for a second day as it slipped 0.38%, and the CAC 40 in France fell 0.13%. In London the FTSE bucked the falling trend, trading higher by 0.08%. That gain came despite U.K. retail sales falling by the most in over a decade as a weaker Pound helped support U.K. exporters.

Markets in the U.S. fell solidly after the Federal Reserve chairman removed the certainty of a July rate cut in the U.S. The Dow Industrials fell more than 150 points and notched a loss of 0.67%, the S&P 500 was 0.95% lower and the Nasdaq retreated 1.51%.



Although Bitcoin gained 4.3% and climbed back above the $11,000 level, the cryptocurrency markets ended mixed as this remains primarily a Bitcoin rally more than anything. Ethereum and Ripple made modest gains of 0.4% and 0.5% respectively, while most of the other top ten altcoins finished the day lower by 1-2%. The market was nearly evenly split at the close with 53 of the top 100 cryptocurrencies ending higher.



EUR/USD – After climbing in an almost parabolic fashion for four consecutive sessions the pair reversed course Tuesday, dropping from the 1.1450 level that had been expected as resistance. The reasons were more fundamental though, with the Euro weaker in response to falling German bond yields, while the USD strengthened after Fed chair Jerome Powell indicated a July rate cut in the U.S. is not a done deal.

USD/JPY – The pair sank sharply in Asian trade, piercing the 107.00 level and continuing lower. However, the statement by the Fed chair reversed the descent and the pair closed the day back above the 107.00 level, although it was still the lowest close for the pair since April 2018. Still, the reversal makes it look as if the pair is coming off its lowest levels and might try to retake the 108.50 level in the coming days.



Metals – Precious metals ended mixed, with gold giving back nearly all its earlier gains, after Federal Reserve chair Jerome Powell made comments that caused doubts a July interest rate hike was in the cards. August gold added just $0.50, or 0.04%, settling at $1,418.70 an ounce after earlier trading as high as $1,442.90 an ounce. Meanwhile July silver fell $0.077, or 0.5%, to finish at $15.30 an ounce.

Oil – Concerns over slowing global growth crept back into trader’s psyche on Tuesday, causing mixed results for crude futures. August West Texas Intermediate crude fell $0.07, or 0.1%, to settle at $57.83 a barrel, while international benchmark August Brent crude edged up by $0.19, or 0.3%, to finish at $65.05 a barrel.



FTSE 100 – London’s benchmark equity index rose a slight 0.08% on Tuesday, bucking weakness across the European Union thanks to weakness from the Pound. That weakness was enough to lift U.K. exporter shares and offset losses caused by U.K. retail sales posting their weakest year over year performance in a decade. CBI monthly retail sales dropped to -42 versus expectations of a reading of -10. Hit hard by the weak retail sales data were supermarket chains Tesco and William Morrison, down 1.34% and 1.33% respectively.

Nikkei – Japan’s benchmark equity index slipped lower by 0.43% as a stronger Yen versus the U.S. dollar sent Japanese exporters lower, and financial shares also fell in response to falling global bond yields. The Yen slipped below the 107.00 handle versus the U.S. dollar for the first time since the start of the year, and looks poised to head lower. This is bad for Japanese exporters who get paid in USD and have to convert those dollars to Yen. Among individual stocks Sony lost 2.10% and Inpex fell 2.61%.


McDonald’s – Recently everyone’s been talking about Beyond Meat and plant-based meat substitutes, but McDonald’s on Monday reported that it increased its market share for the first time in five years, and said the reason was its switch to fresh beef in the Quarter Pounder burgers. During the first quarter of 2019 it sold 40 million more Quarter Pounders than in the same period a year earlier. The switch to fresh beef is just one facet of its drive to offer better quality food, despite the logistical challenges and complexity it adds in the kitchen. The switch to fresh beef took 4 years of planning to pull off. Shares of McDonald’s are up 15.9% since the start of the year, and on Tuesday the stock was initiated by Credit Suisse with an “outperform” rating. Shares closed up by 0.88% in response to the positive analyst reception, even as the Dow had its worst day of June.

% completed

Payment methods
In order to make a deposit, you first need to verify your account.
Your file has been rejected. Please contact customer support.
I understand
Dear Client,

As 24option no longer offers Binary Options trading, and in an attempt to make this change as easy and seamless as possible for you, your previous binary balance has now been updated in your new Forex/CFD trading account.

Should you have any question or concerns about these changes, contact your account manager at any time or click here for our contact information.

Join our webinar with a financial guru “Alpesh Patel” to enhance your trading and market knowledge and learn more about trading Forex/CFDs by clicking below. After clicking to join, you’ll be contacted by your account manager to register you for the webinar.

No thanks

Fund your account

Company Information: This website (www.24option.com/eu) is operated by Rodeler Limited, a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission with CIF license number 207/13. Rodeler Limited is located at 39 Kolonakiou street, Frema Plaza, Agios Athanasios, 4103 Limassol, Cyprus.

Rodeler Limited and Richfield Capital Limited belong to the same Group of Companies and share the “24option” brand. Richfield Capital Limited is regulated by the International Financial Services Commission of Belize with license number IFSC/60/440/TS/18.

Risk Warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.

Please click here for the CFDs risk warning which specifies the % of retail investor accounts that lose money on a 12 month period on our platform.

Regional Restrictions: Rodeler Limited offers services within the European Economic Area (excluding Belgium) and Switzerland.

Rodeler Limited does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Rodeler Limited is not a financial adviser and all services are provided on an execution only basis.