The Market Is On Frail Knees Praying For Mercy!

The Market’s week starts with frail knees. Hit hard from Friday’s roil. US-China’s 90-day truce became turbulent with the arrest of Huawei CFO Ms. Meng. Market participants associate her detention as part of the tactics in the ongoing trade tiffs.
Traders sentiments have been bearish and cautious in anticipation of any unfavorable news from the US or China and praying for mercy in the rout.
Elsewhere eyes are turned to the UK ahead of the Brexit Parliamentary vote or hearing coupled with some high steaks impact. i.e. result in another referendum, general election and even change of government amid what could be a painful defeat for PM May. The UK 100 and GBP are bowing to pressure.
Meanwhile, Australia’s watchdog asks for more clamp down on Facebook & Google hammering their share prices Alibaba on the other hands steps up to take more control of its films department Alibaba Picture group. Stock prices were little change, however, long-term, uptrends are forecasted to resume soon.
Global Markets:
Friday US market closed low sentiments pushed Asian Markets to down, while EU markets follow suit.

• US 30: Was seen down 0.32% at 24,353.5 with a potential of falling to 24,162.5
• Germany 30: drops 0.66% by the time of print 08:48 GMT trading from 10,740 heading to 10,673.26.
• Italy 40: Tried to catch some up winds in the early EU open unsuccessfully. Sliding 0.49% from 18,670.00 to 18,522.50.
• UK100: Brexit weighs heavily around its neck. The upside movement may only come following Tuesday’s conclusions.  For now, the asset is likely to trade sideways between 6,782.62 – 6,742.50 at the time of print it was down 0.50%

FX Markets:

• EUR/USD: With the USD Slipping on risk aversion ahead of the ECB meeting the EUR rallies 0.28% to 1.1411 with 1.1444 as it upcoming resistance level very feasible.
• GBP/USD: In the face of a possible “Hard Brexit” or complete abandonment of it, investors are fleeing from the pair like it was some contaminated disease. From 1.2758 – 1.2693 and lower.
• USD/JPY: The USD was seeing losing footing against the Yen earlier however regained some footing. Trading in and out of gains between 112.24 – 112.75.

Commodities:

• Oil: remains politically charged with finalizations of OPEC & OPEC’s agreement to cut 1.2 million barrels of daily oil productions looming. The volatility will see oil prices ranging between 51.20 – 52.82 a great opportunity for scalping.
• GOLD: Remains the default safe haven attracting cautious inventors or those who chose to hedge their positions. Trading from 1,251.50 – 1,256.30

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Related Links:
https://uk.investing.com/news/politics-news/eus-top-court-says-uk-can-unilaterally-stop-brexit-1402490
https://www.investing.com/news/economy-news/top-5-things-to-know-in-the-market-on-monday-1716335