The Traderszone Network

Chinese shares plunged more than 6 percent to 14-month lows on Tuesday after oil prices dropped again, reviving concerns about global growth and prompting a sell-off in the world’s equity markets. China’s fickle stock markets have now slumped about 22 percent so far this year on concerns about the slowing economy and confusion over the central bank’s foreign exchange policy.

Currently 1.4187 on the back foot again capped by EURGBP demand
Dip buyers prevailing at the moment though after lows of 1.4173 so far.
Offers: 1.4200
1.4220-25 1.4245-50 1.4280
Bids:

10.00 GMT brings the latest appearance from BOE gov Mark Carney
It’s not his MPC posse but the Financial Stability crew.
Fellow members Alex Brazier, Clara Furse & Martin Taylor will join the Cloonester in front of the parliamentary Treasury Select Committee.

Chinese vice-premier Wang out on the wires
– will keep economy in a reasonable range
– will increase market access
Be careful what you wish for, as we’re seeing playing out on a daily basis.

As expected following on from Asian/futures markets
– FTSE -1.4%
– DAX -1.4%
– CAC40 -1.6%
– FTMIB -1.5%
– IBEX -1.7%
Euro still underpinned but some of the expected equity weakness may well have already been priced in.