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Markets Breathe The Dawn Of The New Year Yet Past Wounds Are Slow To Heal

Markets breathe the dawn of the new year, yet wounds past wounds are slow to heal.

The Chinese manufacturing sector is still plagued with slowdowns, even, the December report dubbed was as one of the gravest, one yet to hit China in recent years.

With the US-China tiffs unresolved, global growth concerns weighing and swelling US oil production keeping Oil prices in check to the downside amid a US government shut down or what is become known as the #TrumpStrike2. Market participants start the year on a cautious note however ready to take advantage of any short-term opportunity arising from the dialogue or lack of it.
Global Markets:

The Asian Market closed moderately low which is likely to be mimicked by the EU markets which were spotted shedding gains at fast. There remains a very high chance of “transferred sentiments” to the US market is very possible later today, precisely at the US Market Open.

US 30: slips from highs of 23,417.0 down 1.61% by 08:00GMT at 22,893.50 the expectation is for knee-jerking mode down or near support levels of 22,792.0 and upwards again.
Germany 30: Was spotted down at 10,438.5 by the time of print from highs of 10,696.5 heading down close to support levels of 10,380.50 with the most volatile movements logged between 10,451.5-10,481.25
Italy 40: Just when things when getting calmer following the acceptance of the Italian Budget by the EC, lack of confidence in the new ensuring government constellation or involving the 5-Star Movement and the League Party, has investors nervous which in turn is prompting EU and Italian stocks to sell off. By the time of print 08:00GMT had descended from 18,000 levels into the 17,000 thresholds oscillating between highs of 18,102.50 and lows of 17,680.00.
UK100: Lingers between 6,537.0 – 6,695.5 to the downside. By the time of print, it had lost 1.04% standing at 6,590. with an inclination to 6,540.

Commodities:

Oil: With Global supply outweighing Demand oil price are pinned down. WTI crude oil was seen trading down at 44.95.
Resistance levels set to 45.98 with support levels at 44.50. Analysts believe the trading day would be in a tight range volatile mostly between 44.96-45.15 for the early EU trading day.
Gold: So long as global uncertainties weigh some market participants have found it very prudent to stay with the safe havens. Seem trading up at 1,287.80 aiming for 1,290+ before midday GMT. While support levels remain at 1,280.90.

FX Market:

EUR/USD: The Dollar took its feet off the throttle allowing the EUR and other majors to flex. By the time of print, the pair stood at 1.1471 heading for 1.1497. it is it believed once reached a significant selloff to 1.1418 could be possible before any significant changes or trends are met later in the day.
GBP/USD: Though the GBP gains and shed profits is also sentimental driving so long as Brexit in on the table and global tensions remain high on some fronts. Trending is likely going to be between 1.2684 – 1.2776
USD/JPY: As safe-haven appeals to investors one of the most significant winners has been the JPY at the time of print heading from 109.73 down to 109.02 if breached 108.90 and beyond should be considered.

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Related Links:
https://uk.investing.com/news/economy-news/top-5-things-to-know-in-the-market-on-wednesday-1415481
https://blog.xtrade.com/homepage/the-market-is-on-frail-knees/

"A Trumponomic Tonic"Injection Was "Just Tariffic" For Markets

A “Trumponomic tonic” That was injected into the Markets had what could be perhaps referred to as a last minute ditch to end the tempestuous 2018 year on a positive note.
Following the US –Chinese attempts to resolve the tariffs impasse. President Trump on Saturday alerted market participants of a “Very good call” with President Xi Jinping. Although once again details remain obscure and the Chinese were more reserved revealing that they hoped the two strong economies could have met each other half-way in a compromise, Market participants took this as a positive antidote and that’s “just Tariffic” for now.
Global Markets:
Although most markets will be completely closed or having a short trading day due to a commemoration for the last day of the year or New Year’s Eve. Some Asian markets or non-EU markets will remain open. Even on Tuesday, the 1st of January. 2019
US 30: Has been one of the major benefactors which managed to crawl out of the 22k confinement. Trading up 0.82% at 23.225 by the time of print 08:00GMT. Attempting to breach resistance levels of 23,275 if crossed may make a run to 23,300 o very close to it.
Germany 30: Trading on most platforms on intraday will be close to impossible as the market is closed. However, those holding on to positions for the next two days may be in for a lovely surprise complete wipeout. As the asset swings between 10,408.2 -10,610.5, up 2.03% by the time of print.
Italy 40: As the Italian Budget is accepted and by the EC, and the Sino-US talks warmed up. The futures climbed from recent falls near 17,865.00. Up 1.32% at 18,220.00, resistance levels are set at 18,292.50 in a closed market.
UK100: The UK market closes for early today by 12:00pm GMT. Ahead of this the futures climb are oscillating between 6,660.0 -6,710. by the time of print 08:00 it was seen at 6,689.8 up 0.35% analyst believe it will recede to the support level and hope for a quick run back close to the resistance level.
Commodities:
Oil: Tries turned hawkish after prices dropped below the $45 bbl. However, heading into the new year gains some momentum. Opened at 45.34 and managed to reach 46.33 by the time of print 08:00GMT. It is expected to slide down perhaps to 46.00 before GMT mid-day before attempting to dash back to 46.38 and beyond if no negative dynamics befalls it.
Gold: Holds unto its safe haven status spotted at 1,283.05 trading sideways between 1,279.70 -1,283.30. However, an abrupt break out to 1,285.50 is attainable in the next few hours what happens thereafter will depend on the US open or boosts to the DXY
FX Market:
EUR/USD: The pair has been conforming to almost all of a previous prognosis surging past the 1.1410 targets to trade between 1.1422 -1.1450 swing in and out of gains.
GBP/USD: The GBP also intends to go into the new year with a bit of a smile even if Brexit weighs. Trading between lows of 1.2681 and highs of 1.2746 maybe pecking the 1.2750 level before easing by mid-day.
USD/JPY: Trails down from 110.48 -110.21 seen standing at 110.24 at the time of print it is believed the USD could slip further down perhaps 110.12 or beyond to flirt with 109.
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A Charged Trading Day Ahead, US Jobs and OIl Report On Tap.

A Charged trading day ahead meanwhile deciphering market trends becomes slightly elusive, scheduled reports from the US have either been delayed or totally brushed off partly due to the holiday celebrations which had most markets closed for two days. The US government shut down which drags on into day 7 may add to volatility which drives market sentiment as Investors wade through uncertainties.

Some economic calendars from Online retailers are not updated accordingly. Adding to the anxiety some traders are facing in anticipation of the release of Wednesdays ADP, Crude Oil inventories, and ISM reports. Others hint on the announcement of API’s weekly Oil stocks report shallowly, on the backdrop of Today’s NFP report.

Global Markets:
In relation to Thursday post, some stocks, Mostly the US, remained buoyant. Encouraging the Asia Stocks and finally EU stocks.

US 30: Surprised traders to close higher after a volatile trading session on Thursday. In pre-markets it is seen trading up 1.14% at 23,138.82 by 09:10GMT aiming for 23,200 cautiously. Unless Fed Chair’s speech today, he rubs market participants in an unfordable way.
Germany 30: Analysts are under the impression that Germany 30 could reach 10,570.00 and if not able to, will be restricted between (10,408.2 – 10,564.5)
Italy 40: Had already managed to tack on 1.48% by the time of print 09:10 GMT at 18,270.00 aiming for 18,300 albeit oscillating between (17,865.00 – 18,292.50).
UK100: Some analyst accredit the UK100 surge to Oil prices rebound which helped the share of some of the big Oil firms BP, Shell to name but two. Trading up 1.60% from 6,628.04 to 6,700.05 then, to swing between the day’s highs and lows.

Commodities:

Oil: The word from the American Petroleum Institute (API), concerning Tuesday’s weekly US Oil stockpiles is that it rose by 6.9 million barrels. Further insights from the EIA today at 18:00 GMT, would likely help Traders to overcome the limited fundamentals. Hopes that Oil supply is diminishing to support short-term rally is not supported.

Although rallied 3.5% from recent declines. The fact that, the US is seen adding more rigs, while Exxon continues drilling offshore in Guyana. WTI crude is up 2.11% today ahead of the crude inventories report and aiming to go from 45.30 – 46.25 and beyond should there be any supportive data if not we might see a plummet down to 44+ and by Monday 42+

Gold: Remains bullish likely to head to 1,286 by later EU markets session. Already up 0.05% at 1,280.45 by 09:10GMT technically set to trade between 1,276.65 – 1,284.55. However, since today is Friday a day for profit-taking Investors are playing it safe flocking to the Safe-heavens.

FX Market:

EUR/USD: The pair rose beyond our predictions Thursday above the 1.1410 hitting and sticking. Rising to close at 1.1429. With the DXY retreating the EUR climbed to 1.1473 before letting go of the throttle trading 0.37% at 1.1471 in a range from 1.1427 – 1.1473.
GBP/USD: Has chattered a path from 1.2635 – 1.2689 up 0.36% at 1.2689 which is the current resistance level. Some say it could touch the 1.27 mark today.
USD/JPY: The pair had a merry go round day on Thursday. Finally closing at 111.00 instead of the 110.50 predicted. However, by Asian open, the Yen had strengthened against the USD again down 0.55% at 110.39 and range bound between 110.23 – 111.03

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A Remarkable ComeBack For US Stocks Dies Prematurely Or Not

A remarkable comeback following the Xmas rout which saw the Dow Jones aka (US30) drop 1086 pips a whopping 4.9%, was followed by an18 hour Post-Christmas rally.
Almost all the FAANG stocks rallied after Amazon announced its “record-breaking” holiday sessions sales. Apple Inc. was noted up 7%. As most of the Tech industry. However, with the US in its 6^th day of the government shut down, manufactures and Investors are wary of the prospects.
Global Markets:
Global Markets are still walking on eggshells. In fact, most are unable to keep out of the bearish zone for prolonged periods of time. Naturally, for some Traders, this is very disruptive. While others adhere to momentum trading and scalping in shorter intervals of between 30minutes to 4hours.

US 30: After the dramatic pre-Christmas rout. Boxing day gave a combative move to the asset to regain most of its losses. However, at EU open the US 30 was seen plummeting down 0.33% at 22,795.50 coming from highs of 23,025.45. It is likely, it may lose at least 200 pips to 22,490 by the US open. Only to be helped by a better than expected economic data release due on the economic calendar.
Germany 30: After a short correction. Which brought the asset to trade at 10,697 before showing signs of reversing. By the time of print 07:40 GMT it was up 1.49% at 10,656.0 it is expected to breach current support levels of 10,576.50 to perhaps 10,420 before reconsidering another sustained direction.
Italy 40: Had indicated intentions to downtrend. Down 2.80% from 18,415.00 at 18,125.00 aiming for 18,100 after which 17,900 becomes the next support.
UK100: Doesn’t feel hawkish today. Spotted at 6,685.99 down 0.52% by 07:40GMT and poised to trade between 6,727.51-6,641.98

Commodities:

Oil: The API for Tuesday was delayed today giving a breather to spread betters for some profit-taking on WTI after prices fell to 42.59. They managed to recover losses back to close the day at 46.61 by the time of print it stood at 45.87 down 1.74% with the expectation of a drop to at least 45.45 after which 44.90.
Gold: Is shining, so long as the USD slides or uncertainties weigh. Up 0.13% at 1,271.40 and to rally to 1,277 +

FX Market:

EUR/USD: The pair managed to climb to the 1.14 psychological mark. Before fizzling. However, with the DXY down. The expectation is for the EUR to gain more grounds before the US begins to release its economic reports on Existing Home Sales and other. Ranging from 1.1353 – 1.1401 maybe 1.1410 could be a hit and run.
GBP/USD: The pair is capricious showing signs of resilience. The path seems paved between 1.2624 – 1.2668.
USD/JPY: Spotted down 0.29% at 111.05 the Yen is expected to consolidate against the USD at least to 110.50 at the close of EU markets.

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Related Links:
https://uk.investing.com/news/economy-news/top-5-things-to-know-in-the-market-on-thursday-1413027
https://uk.investing.com/news/stock-market-news/uk-stocks-climb-wall-street-ladder-1412958

Hopes For Corrections in a Thin US Market

Hopes for corrections in a thin US Market with most of the EU stock markets closed on their second day of Christmas holidays, the USD is lingering lower after knee- jerking somewhat, following the rate hike.
However, as growth worries persist price volatility, trickles in with investors highly emotional charged following the Xmas rout.
The dismal economic data release forecast for the US may trigger uptrends in other major currencies. Although the DXY rallies ahead up 0.14% between 96.53 – 96.73 with possible upside ticks post the US open.
Global Markets:
The Japanese stocks were spotted in correction mode triggering some hopes for EU stocks to follow. BOJ’s Chief Mr. Kuroda hits on plans to speed up inflation up to the required 2%. However, with US President Trump still lashing out at the Feds for the rate increment and insistence to keep the government closed, keeps Market participants remain cautious.

US 30: After shedding a whopping 800 plus pips over the Xmas, is also in correction mode seen trending from 21,452.0 to 21,799.0 and perhaps to 22,000 in thin trading. Up 0.21% at 21,745.0 by time of print 08:10 GMT.
Germany 30: The asset trades in a range from 10,487.0 – 10,649.5 indecisively. There is a hope it may breach the 10,800 levels in the thin EU market session.
Italy 40: Was seen trending from 18,415.00 to 18,100.00 down 2.50% at 18,125, analysts believe some respite may be seen today sending prices upwards to 18,500 or more.
UK100: Was also spotted down 0.52% at 6,685.99 from 6,721.12 heading to 6,661.00 sudden movements upwards are not ruled out.

Commodities:

Oil: Ahead of Today’s API report crude Oil prices rallies after losing nearly 3.8% by the time of print it was seen up 1.48% 42.53 – 43.41. Perhaps aiming to crop up some gains before the report is released.
Gold: Following previous posts the precious metal continues to gain attention up 0.33% at 1,275.95 from today’s open of 1,272.50. Heading towards 1,277.85, perhaps even touching the 1300 levels by end of the year to fully regain back its luster seen around 2013/14.

FX Market:

EUR/USD: After gaining attention to the upside to climb above 1.1400 the EUR fell to the USD down to 1.389 down 0.04% ahead of today’s US Redbook report.
GBP/USD: The pair is expected to oscillate between highs of 1.2719 and lows of 1.2659 by the time of print up 0.11% at 1.2692.
USD/JPY: The USD gained a bit of an edge over the USD up 0.23% at 110.54 aiming for 110.67. perhaps hitting 111.00

Merry Xmas & Prosperous New Year.

Merry Xmas and a very prosperous new year. As most celebrate the Christmas holidays according to the Gregorian calendar, it is commendable to extend sessional greetings to all those who will be celebrating according to the Julian calendar around 7th January as well.
Naturally, most western and other stock markets are closed. As some celebrate with family and friends, others are likely taking time to ponder over the markets’ status quo, which is currently entering into a bear market with both feet. In simple terms, stocks are shedding nearly 20% or more of their value from recent gains. The losses have forced Emerging markets to brace for a year of uncertainties at least in the first quarter of 2019.
Hoping the US-China 90-day truce does not usher an era of protracted trade tiffs. Markets are populated with hedge funds in search of viable assets to trade on. Meanwhile hedging with Gold. which seems to be climbing vicariously up 1.14% by 09:00 GMT. Trading in a range from 1,260.50 – 1,273.90 which started Monday. Analysts are under the impression prices could reach 1.300 by end of the year.
WTI Crude and Oil prices, in general, have also been in the headlines a lot lately with US sanctions on Iran, commitments by OPEC + to curb production quotas in an attempt to balance prices, which eludes participants as the US engages in shale production which cancels out OPEC effort to a degree, perhaps sent prices down to $40 bbl
Trading on stocks is pruned to wild swings dominated mostly by sentiment. US 30 lost 600 pips Monday. Even though the US economy may end the year with gains.
Currencies are playing the fiddle with risk-on, risk-off aversion. While others take their chances with the Cryptocurrencies. Opportunities remain, abound for the bold and those who don’t mind trading in a bear market.

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