In The Markets We Thrust. 

By Kenneth@Xtrade - on July 4, 2019

In the Markets We Thrust.

With the US Markets closed for their, Fourth of July, 243rd Independence Day celebration from the British trading volumes are limited. Investors and Traders from Asia and the EU may have already hedged or closed those pertaining to the US Market.

The economic calendar is light even the 3 earnings reports scheduled for today seem to be tentative.

Traders that opted for the Asian and Australian assets in their various portfolios may have been the big gainers. Despite the disappointing Australian Retail Sales report from the Australian Bureau of Statistics announcing 0.1% instead of the forecasted 0.2 %. The AUD was seem confined into bearish mode trading between 0.7015 – 0.7049

On a Day like this, history may have revealed to us in the past, that the USD usually get a slight boost as more transactions are made using the USD per capita pre and during the celebrations. Only to drop post the holiday.  Traders that shorted the AUD, GBP, and EUR earlier obtained impressive ROI’s (Return on Investment).

To spice up the EU a bit ECB European Central Bankers would be delivering various speeches amid the delivery of the EU’s Retail Sales.

Meanwhile, from the geopolitical arena, the news is trickling in which North Korea is said to attest that President Trump is “Hell-bent on hostile acts” despite the meeting between the two leaders.

Global Stocks: The General mood was the US stock was bolstered while the EU stocks looked subdued on prospects of possible Fed Rate hike in their upcoming meetings.  

  • USA30: Has been enjoying its newfound hawkish wings seen trading down 0.27% between 26,939.5 – 27,002.0 in line with our projections Thursday which put the resistance level at 27,115.00. Hence the technical analysis for the day is similar to the resistance levels marked 27.115.00 and support levels at 26.850.00
  • Germany 30: Was seen trading down 0.27% between 12,604.0 – 12,649.8 the technical analysis gave more leeway marking the resistance levels at 12.900.00 and support levels at12.595.00
  • UK100: The FTSE 100 UK was spotted trading between 7,603.00 – 7,622.50 with the open rate at 7,612.00. the graphs showed the potential range could be widened to reflect between 7.650.50 7.550.50 with a bearish outlook.
  • Italy 40: Opened the trading session at 21,879.50 and charted a trading path between 21,852.00 – 22,102.50. While our analyst suggests the resistance levels: 22.222.00 and support levels at 21.887.00

Commodities:

Today the commodities are likely to be in a disarray. As the USD finds reasons to celebrate a climb. It becomes expensive to hold on to some commodities reduced bets on most assets will be normal today.  

  • Oil:  Early EU open Oil already began showing signs or relenting gains seen at 57.02 down 0.68% from the Open of 57.41 set to trade between 56.48 – 57.57.
  • Gold: The outlook was a bearish one. Trading in reverse between 1,412.85 – 1,424.35

FX Market:

The USD was demonstrating signs of seating on the Kings seat. With DXY trading in within the following thresholds 96.66 – 96.81

  • USD/JPY: The USD was seen struggling to extend gains against t the Yen. However, confined with a range between 107.71 – 107.85. Our technical analysis was more accommodative to the upside movement to range between 108.13 & 107.50
  • EUR/USD: Trading flat with occasional up or down swings as the agenda for the day unfolds. Ranging between 1.1274 – 1.1296
  • GBP/USD: The pair trades sideways for prolonged intervals. Arrested at 1.2576 ranging between 1.2568 -1.2592

The Cryptocurrencies.

The cryptocurrencies, especially my personal favourite the BTC/USD are gearing up with a trading range between 11,038.0 – 12,065.0

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