A Rocky Market With UK’s Parliamentary whiplash.By Kenneth@Xtrade - on March 28, 2019
A Rocky Market with UK’s Parliamentary whiplash.
The US GDP, Gross Domestic Product and the UK’s Parliamentary whiplashes are driving market sentiment as Oil retracts following reports of a build-up from the EIA in Gasoline inventories. This status is very wobbly.
Well the market is interesting at least if you get on the right side of the trends. Most hedge funds and spread betters, are finding the times favourable for intra-day trading or hedging. A strategy which personally, I applaud especially when long dated trades, may easily prove to be risky due to the lack of clarity. Inexperienced traders may find the trends to be too wild, for them. The benefits of trading during this time is mistakes could be corrected promptly when spotted.
The USD, is due to release its Q4 GDP by the Bureau of Economic Analysis, which is estimated to come in around 2.4%. In case it beats estimations the USD shall continue up trending for most part of the US session. However, USD may lose steam should the report disappoint. Amid a deluge of economic reports from the US, Euro area and Japan the market is rocky.
Brexit: The British Parliament took over the Brexit process, However, it is still not clear on approach has been taken. PM Theresa May threatened to resign. If any of here proposals are to pass. Eventually all 8 or so suggestions were cast down. Naturally, the GBP is in shambles. The Brexit shall not take place on the 29th of March.
Stocks: At the time of print 11:30 GMT global stocks could be said to be shifting gears from high gear to low and vice versa. Plagued by the numerous economic data dump.
- UK100: With the pound under pressure some traders and investors took to explore with the stocks with FTSE 100 trading up 0.56% between 7,203.00 – 7,259.50.
- Germany 30: Down trending in the early EU session. It is likely to find the asset trading between 11,404.5 – 11,511.0
- Italy 40: Trades in a tight range backwards after reaching highs of 20,672.50 it is plausible to find the asset residing between 20,672.50- 20,487.00.
- USA30: Ahead of the US GDP delivery, the stocks were seen gaining knee jerking between 25,526.5 – 25,703.0. Down trending is capped pending the result from over 94 companies in the Q4 earnings.
As the USD, gains commodities retract as it becomes expensive to hold unto the commodities.
- Oil: Prices were smacked down trading from 59.42 – 58.20. down 1.45% on an apparent build-up in Gasoline inventories. However, with rumors of WTI Oil being contaminated the US is getting rejections from most of its buyers. This could help prices to rise amid outages in Venezuela, production decrease in Kazakhstan.
- Gold: Futures turned bearish as the USD rose
tradingfrom 1,317.55 to 1,298.15
The USD resurrects kicking all aside.
- GBP/USD: The pound took a beating as UK lawmakers struggles to find common ground on the Indicative Vote. The pair trades down 0.67% between 1.3217- 1.3100.
- EUR/USD: The EUR drops 0.11% with further downside in view Trading from 1.1263– 1.1215.
- USD/JPY: The JPY was unable to overturn the tables. USD continues to be bullish trading between 110.03 – 110.84.
The status quo for the cryptocurrencies remain the same as Wednesday, “As markets sentiments are strained some traders and investors turn to the crypto which are likely going to be bullish”
In the mean-time it imperative to keep tabs on
Boeing, Tesla, Apple, the Deutsche Bank, and the Turkish lira TRY, as each deals with its own challenges
Further details, please visit Xtrade.com. You may also leave your comments below.
A Highly Charged Week Comes To An End With The “Hawks” Out, USD Parks.
Gold Surges In Shifting Market Tides, Spiced New War Front, With Central Banks Obscurant.
Today Is The Day That The Fed Has Made The Markets Linger in Wait & See mode.-Safe Havens?