Global Markets Expirence Withdrawal SymptomsBy Kenneth@Xtrade - on November 30, 2018
The Markets are experiencing withdrawal symptoms as members of the G-20 gather at the summit, investors are wary of the extent to which issues could be addressed.
All global stocks were bearish by 07:45 GMT. With volatility high amid profit-taking.
- Germany 30: Is bearish at 11,240.5 down 71 pips with support levels set at 11,234.5 drag by Deutsche Banks scandal amid uncertainties as the Auto industry and mining sector weighs on uptrends.
- UK100: plummeted 0.60% from 7,041.22 – 6,9970.0 falling below the 7 k psychological levels and heading to 6,995. abrupt swings are expected.
- Italy40: sheds 0.40% from 19,235.00 to 19,087.50 looking towards the support levels at 19,065.00.
- US30: Erased almost all gains from the previous session, down 0.26% at 25,326. with further downside possible to 25,309.0
FX Market: Was seen contracting as Traders hold on for clarity.
- EUR/USD: The pair was down trotting 0.19%, trading sideways around 1.1371 downward trends may be imminent in case EU CPI and economic events fail to render support.
- GBP/USD: Swing in and out of losses following a better than expected Nationwide HPI report. Oscillating between 1.2782 -1.2772.
- USD/JPY: Trades flat in a sideways route between 113.47 / 113.49 with support levels at 113.34
- Oil: continues to remain politically vulnerable to comments and perhaps developments from Oil producers ahead of today’s Baker Hughes Rig Count and deliberations from the G- 20 summit WTI is Dropping from 51.79 to 50.90 further downside is possible
- GOLD: Investors have also choosing to stand pat avoiding any risk even with the safe heavens. At 1,229.00 and heading to support levels of 1,226.80.
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