Market News & Analysis

FX Brief: Hong Kong’s Extradition Deal ‘Is Dead’


  • Hong Kong’s proposed extradition deal is dead, according to their leader Carrie Lam yet calls for her resignation remain high among students. The Hang Seng index is currently down -0.8%.
  • Australian business confidence fell to a 2-month low after May’s ‘post-election’ spike higher, taking it back near multi-month lows and hinting at headwinds for growth in Q2.
  • Retail sales for the UK.
  • Narrow ranges again for FX majors and crosses, with all pairs we track remaining well within their typical daily ranges. NZD is currently the strongest major, AUD is the weakest. NZD/JPY and NZD/CAD are the biggest gainers, AUD/NZD and AUD/USD are the largest losers.

Up Next:

  • Fed Chair Jerome Powell is to provide opening remarks on a stress-test conference, so is unlikely to be covering monetary policy (but all eyes will be on him tomorrow when he delivers his semi-annual testimony to congress).




From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.