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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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In the European Parliament plenary session in Strasbourg earlier today, MEPs voted in favour of a resolution that will seek to launch legal proceedings against the European Commission due to its failure to implement financial sanctions on Hungary and Poland for these nations' undermining of rule of law regulations.

  • Case set to be lodged at ECJ later in the year. MEPs argue that the rule of law mechanism, which ties the dispersal of EU funds to respect for rule of law regulations, should have been invoked by the Commission.
  • Reforms to the Polish legal system and Hungary's restrictions on the funding of foreign NGO's (counter to EU rules) have each seen relations between capitals and Brussels deteriorate in recent months.