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About us

Based out of Auckland, New Zealand, we bring an institutional trading experience to the retail market.
Mark O' Donnell
 · 
Research Analyst
July 16, 2018
 · 

Weekly Market Update 17 July 2018

Update: Our Leverage Terms Have Not Changed

ESMA leverage caps coming into effect in 10 days on 1st August 2018.

Are You Ready for It?

** Remember, your account with BlackBull Markets is not affected. **

 

Any questions, please contact our awesome Support Team at support@blackbullmarkets.com

 

Video of the Week


 

Big News this week

Google’s $5 Billion Fine!

On Wednesday, EU officials ordered a record $5 billion antitrust fine on Google to stop using its popular Android mobile operating system to block its rivals. The penalty is far higher than any other dished out by the U.S., Chinese, or other antitrust authorities.  Furthermore, the penalty is nearly double the previous penalty that Google was ordered to pay last year. However, the fines are still relatively minuscule as it only represents a little more than two weeks of revenue for its parent company, Alphabet Inc.

Google's Appeal

Immediately after the order of penalty, Google said it would challenge the ruling at the RU courts. An appeal wouldn’t change its need to comply with the EU order unless it gets judges to allow “interim measures” that halt the commission findings. Google even receives support from President Donald Trump. On Thursday, Trump twitted “I told you so! The European Union just slapped a Five Billion Dollar fine on one of our great companies, Google…”


Trump Unhappy About FED Rate Hike

During a CNBC interview on Thursday, President Donald Trump said he was “Not Thrilled” about the Federal Reserve’s decision to hike interest rates. Trump added that he was concerned that the Fed’s rate hikes have the potential to impact the U.S. economy and American competitiveness. This puts the U.S. at a “disadvantage” while the Bank of Japan and the European Central Bank keep their monetary policy loose.

Following Trump’s remarks on Thursday, the dollar fell as shown on the JPY/USD fell to a one week low of 112.050 yen.


Trump’s Relationship with Putin

After facing criticism over Trump’s failure to publicly confront Putin for Russia’s meddling in the 2016 U.S. election, Donald Trump still plans to invite Russian President Vladimir Putin to Washington this autumn. Shockingly, the Director of National Intelligence, Dan Coats, only learned about the invitation during an interview at the Aspen Security Forum.

On Thursday, Trump tweeted he wants to meet again with Putin to begin implementation of ideas they discussed in Helsinki. Discussions include stopping terrorism, security for Israel, nuclear proliferation, cyber-attacks, trade, Ukraine, Middle East peace, North Korea, and more.


Other Important Events

  • London’s new Brexit minister, Dominic Raab, is on his first trip to Brussels confident he could reach a deal as the EU warned business to prepare for Britain crashing out of the bloc without agreed terms to cushion the economic disruption. Only 252 days to go.
  • On Tuesday, Bitcoin surged by 12 percent pushing past the $7,000 price level for the first time in more than a month.
  • Malaysian government expects to recover at least 10% and up to 30% ($3.5 billion) of the total amount ($12.3 billion) lost through the 1MDB scandal.

Up-Coming Events

  • South Korean President Moon Jae-in is planning another meeting with North Korean Leader Kim Jong-un around late August.
  • The European Union is making a list of U.S. goods it could target to retaliate against potential tariffs on European cars. The preparation comes after U.S. President Donald Trump threatened to hike tariffs on European car imports to 20%.
  • European Commission President Jean-Claude Juncker will meet with U.S. President Donald Trump on 25 July in Washington. The meeting has a clear focus on trade after the U.S. imposed tariffs on EU steel and aluminium and Trump’s threat on European cars.
  • The European Central Bank is set to release their interest rate decision on 26 July. The current benchmark rate is at 0%.

This information is subject to change without notice. BlackBull Markets strives to provide the most accurate information available, but cannot guarantee that any of these events will occur nor that the outcome will be as stated. This information is to be used for educational purposes only and further research should be done before trading.

BlackBull Markets is the trade name of Black Bull Group Limited Ltd which is a registered Financial Service Provider in New Zealand with FSP No. 403326. Black Bull Group Limited registered New Zealand Company is listed on New Zealand Financial Service Provider Register (#FSP 403326) and is also a member of the Financial Dispute Resolution Service FSCL.

Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial adviser if you have any questions or concerns as to how a loss would affect your lifestyle.


 

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