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All Eyes on G-20 Summit & Fed Minutes vs Draghi’s Speech

As leaders for the G-20 countries converge for their deliberation on global economic issues. Market participants remain hopeful yet considering alternative moves should in case the meeting turns out to be disappointing. Analysts believe the summit will not resolve all the Trade tensions.

Global Stocks: Global stocks were seen having another green day.

US 30: rallied nearly 600 pips yesterday crossing the 25k levels reaching 25,355.0 before entering into an oscillation mode ranging between 25,266.0 – 25,355.0. Ahead of today’s fed minutes.

Germany30: Rose from 11,346.74 heading to highs of 11,400 and beyond however progress could be capped due to the deluge of economic events due for release. And perhaps Deutsche Bank woes could pull stock prices down.

UK100: Ticked up 0.80% at the time of print 09:30 GMT at 7,060.25 with its resistance at 7,064

Italy 40: Is Hawkish up 0.43% and set to trade between 19,142.50 – 19,345.

Currencies:

GBP/USD: Lost its luster early EU market open, plummeting from 1.2850 down 0.40% at 1.2775 further downsides is possible to 1.2758. Despite all banks passing the stress test ahead of the Brexit. However, weighed down by a disappointing U.K. BoE Consumer Credit report.

EUR/USD: The pair was seen bullish regaining grounds passed the 1.13 mark trading from lows of 1.1267 and aiming for 1.1398 the uptrends could only be halted as the US releases its reports.

USD/JPY: The USD gave way to JPY down 0.36% from 113.69 -113.27 further downsides to 113.15 may be reached before the report on US Pending home sales, initial jobless claims and Core PCE reports are released

Commodities:

Oil: Oil (WTI)Gained upwards momentum yesterday ahead of the Crude oil inventories. However, this morning plummeted on Saudi Oil minister’s comments oil took a dive from 52.54 to 49.76 further downside possible.

GOLD/USD Some investors choose to be safe than sorry heading for the safe heavens Gold rose against the US 0.42% from 1,220.62 – 1,227.16

Meanwhile all US Tech stocks are bullish Apple, Amazon, Facebook etc.

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https://www.cnbc.com/2018/11/29/us-china-trade-dispute-is-more-about-strategic-dominance-says-citi.html

https://www.cnbc.com/2018/11/29/deutsche-bank-shares-sink-police-raid-offices-money-laundering-allegations.html

Pre G-20 Summit & US Gross Domestic Products Shimmerings

A day to the G-20 Summit and in the wake of the US Gross Domestic product and crude oil reports. The USD was seen shining vs other major currencies.

The rhetoric of all the positive issues that could arise from the G- 20 summit drives investor sentiment on various fronts.

Global Stocks: Global stock are mixed however bullish to an extent; EU shares were up at the EU open, however, for some resistance levels are capped. US stocks point to uptrends, as Asia closes relatively high.

Germany30: Was seen up trending 48 pips at the time of print 09:00GMT ranging between 11,284.32 – 11,357.23.

UK100: Opened bullish up 0.02% 7,017.50 with resistance at 7,057.57 however downside prevails to 7,014.25 as Brexit saga prevails in-house. As UK parliamentarians dispute over PM May’s plans. Further drops are imminent perhaps below the 7k levels.

Italy 40: is at 19,117.50 at the time of print, down 0.10% from 19,217.50 and may head down to 19,087.50 however if the Italian PPI comes out positive and more encouraging news emerges out in support of an adjusted budget we could see momentum push the asset back to 19,217.50.

US 30: Rallies 0.40% to trade between 24,727.0 – 24,900 and beyond

Currencies:

GBP/USD: bearish at 1.2740 heading for 1.2725 from the 1.28 levels.

EUR/USD: Is down 0.12% at 1.1275 heading for 1.1267 from highs of 1.1300 further downsides is very possible.

USD/JPY: Is Bullish at 113.83 aiming for 113.95 up 0.05% yet upside remains capriciously capped.

Commodities:

Oil: Oil (WTI) Is ticking up ahead of today’s report range bound between 51.52 – 52.52 to drop later. A drop beyond 51.52 to 50.95 could be reached by the end of the day.

GOLD/USD Is bearish as investors turn to the USD. Down 0.1% from 1,215.49 – 1,212.55

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https://uk.investing.com/news/economy-news/top-5-things-to-know-in-the-market-on-wednesday-1392557

Markets Tango Dance & Knee Jerk Post Cyber-Monday

Tuesday trading day could be prudently tagged as indulging in a Tango dance, coupled with reversals and corrections from Cyber Monday. With the USD regaining traction as could be noted in the DXY, rallying 0.13% at 97.20 with further upside in view by the time of print 08:00GMT.

In tandem with Monday’s post, Market participants made great headways following the surge in US Online retail stocks and the generally upbeat mood. However, after a record sale of nearly $6 billion on Black Friday and another $7 billion from cyber Monday the Market is preparing for a breather.

Meanwhile, some Investors are anticipating reports from the American Petroleum Institute, API to gauge the status of weekly American Oil stockpiles. Amid news from Vienna Austria by OPEC on the daily basket price of oil which is down from $62.27 to 59.29. With the US racking up production, analysts are under the impression that WTI Crude prices are likely to sink further perhaps with support levels below the $50 bbl level.

Global Stocks: Are set to be capricious today. Some comments from the Chinese’s Foreign minister boosted market sentiment momentarily until it was deciphered as an error.

Germany30: Was bearish, at the time of print ranging between 11,347.99 -11,393 down 0.19%, however, abrupt surges and drops are not ruled out.
UK100: Was spotted down 0.14% in a range between 7,014.90 – 7,044.07 further upsides may not be realized today as Heads of state in the EU and US embrace the Brexit proposal plan. UK parliament is still to have a showdown on December, 11^th instead of the 9^th between Theresa May and Jeremy Corbyn after the later confirmed that he had not read the 500+ pages of PM, May’s deal. At a time when EU Courts hint the UK could reverse its Brexit decision.
Italy 40: Had retracted from Monday’s highs nose diving at 19.126.00 at print. Analysts expect knee jerking between 19,110.50 – 19,305.50 amid budget negotiations.
US 30: Was seen panting between 24,469.0 – 24,751.0 in and out of gains.

Currencies:

GBP/USD: The USD woke up strong vs. the GBP. The pair trade down 0.58% between 1.2734 – 1.2829.
EUR/USD: The EUR gave way to the USD down 0.13% between 1.1344 to 1.1305
USD/JPY: After a short wobbliness the USD stood its ground vs. the JPY. Up 0.02% at 113.61 and set to a range between 113.41 – 113.66.

Commodities:

Oil: WTI is under pressure to say the light knee jerking ahead of today’s API report. Oil is bearish with occasional corrections, trading between 50.73 – 51.70. down 0.15%.
XAU/USD: With the USD staging dominance Gold is seen submissive. However, volatility is expected to remain high. Using the RSI Relative Strength Index, the pair is found trading in the comfort zone between 1,215.11 – 1,225.32 at the time of print, the precious metal was bearish. Analyst predicts a correction up later today as investors remain edgy.

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https://www.cnbc.com/2018/11/14/oil-pricesopec-allies-talk-up-supply-cuts-at-december-meeting.html

https://www.cnbc.com/2018/11/26/trade-war-will-still-be-a-problem-for-markets-after-g20-summit.html

https://uk.investing.com/news/politics-news/uk-can-unilaterally-reverse-brexit-eus-top-court-told-1391267

Cyber Monday & Hopeful Market Post Brexit Summit.

Cyber Monday is upon us and the markets are hopeful some last minute sales today could help the mini dent Black Friday caused before trends were reversed.

With the EU commission’s endorsement on Sunday of the proposed Brexit Plan, some sort of semblance to alleviated market sentiment and restored faith is noted. Italy also came to reason in considering adjustment and review of its budget “faux pas.” Imbuing the EU market with more hope.

It should not come as a surprise to see Stock prices of online retailers such as Alibaba, eBay, etc. Rallying momentarily.

Meanwhile, investors cautiously look ahead to OPEC’s meeting on the 6^th December for some clarity while others weighing the chances of a cordial and effective mutually agreed on Trade agreement between the US & China at the G 20 Summit in Buenos Aries.

The USD although relatively high, frizzles on Fed Rate hike rhetoric, which seems to suggest perhaps a slower pace. Some investors think US President Trumps unprecedented antics towards the Feds, may have led to deeper reflections which could be seen as appeasing the US President. The Divide has prompted some Traders to hedge with the Safe havens, GOLD, JPY and CHF to name a few.

Global Stocks: Are generally bullish. EU shares got a boost from the aforementioned points. While Asian shares recovered partially. The US 30 struggles to shed losses. Yet gains may be capped.

Germany30: Took flight heading north, by the time of print at 08:47 GMT it was seen up 1.43% ranging from 11,269.23 – 11,356.38.
UK100: Has also been hawkish in light of the recent progress in resolving the Brexit stance. Rallying 1.23% by the time of print, trading from lows of 6,991.75 to resistance levels around 7,042.75. Further, upside may be in play before any contractions.
Italy 40: although the UK100 began the lead. Italy 40 (FTSE Mib) surpassed all surging 3.10% by the time of print trading between 19,040.50 – 19,320.50 likely breaking the resistance level by mid-day GMT if no further poly-tricks are brought on.
US 30: Was indecisively slow in joining the up trends, however, made it by the time of print up 1.19% with a wide trading range between 24,271.0 – 24,566.0

Currencies:

GBP/USD: Was bolstered further by upbeat Gross Mortgage Approvals report 39.7 K vs estimated 38.9k. coupled with the headways obtained over the weekend. The pair was bullish up 0.20% trading from 1.2796 – 1.2847.
EUR/USD: Technically the pair has been ranging in a familiar territory of from 1.1326 – 1.1421. Analysts do not perceive any major break out ahead of ECB Speeches later in the day.
USD/JPY: Even with some traders veering for the safer havens, The USD was firmer against the JPY. Up 0.21% and standing around 113.21 with a possible course between 112.88 – 113.35.

Commodities:

Oil: As per Friday’s post. Oil acted exactly as noted. Fading below the 51 levels. Should OPEC cut production in the face of US ramps How effective could the move be? After fall nearly 7% WTI crude 1.41 % up at 51.13 upside resistance is capped around 51.50 downside movement does not have a solid support. Trading between 50.16 – 51.41.
XAU/USD: AS investors hold on to their Gold as a hedge the USD could be seen subservient to XAU. Trading up 0.26% between 1,222.35 – 1,228.11

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https://www.cnbc.com/2018/11/26/trade-war-will-still-be-a-problem-for-markets-after-g20-summit.html

https://uk.investing.com/news/stock-market-news/ftse-joins-european-bounce-as-brexit-outlook-keeps-sterling-in-check-1390173

Black Friday Sales & More Market Shenenigains

In the wake of Black Friday Sales and more Market shenanigans coupled with Japan and US Thanksgiving commemorations. Tech stocks, such as AMAZON, EBAY, FACEBOOK, ALIBABA, were observed recovering in tandem in premarket With rumors of Violence in Alabama USA, and planned strikes at AMAZON’s branch in Germany. It still remains questionable if Black Friday sales could provide some refuge to falling tech stocks for a short while.

The ECB in its meeting Thursday confirmed its intentions to go ahead in phasing out its Quantitative easing policy. While The EU governing body of 27 member’s states prepares for a meeting or summit in the deliberation on the drafted Brexit plans. Market participants are anxiously awaiting to learn if the drafted proposal will be endorsed or rejected.

Global Stocks: Italian Banks actions bolstered EU stocks again, together with the Tech stocks. whether Italy’s stubbornness in addressing its budget issue will avert further instabilities remains to be seen in the upcoming days. Meanwhile, the US stocks are trapped in a bearish cycle in what would be a very short trading day.

Germany30: Is in a recovery mood, heading north. By the time of print at 08:48GMT it had already crossed the 1^st resistance level which was 11,184.80, oscillating between 11,126.28 – 11,205.89. Reversals by mid-day will not be surprising.
UK100: As per Thursday’s post confirming our findings the share prices seem to be hawkish after plummeting to its support levels yesterday. Currently up 0.34% trading from 6,948.39 – 6,988.36. It would not be a surprise should it break out into the 7k levels.
Italy 40: In sync with the budget saga, the stock price has become sentimental reacting sensitively to any developments or constraints. Albeit bullish and up 0.74% ranging from 18,615.00 – 18,777.50
US 30: Remains bearish oscillating between 24,427.0 – 24,322.0 down 0.34% by the time of print.

Currencies:

GBP/USD: Seems to be circling around 1.2927 -1.2771 around the same “mulberry bush” after gaining a short-lived flight Thursday.
EUR/USD: Prognosis of the EUR was on point. After nearing the 1.1426 level set for yesterday it gave up gains this morning driven by disappointing Manufacturing PMI and service PMI from Germany as well as the EU shedding 0.40% to range between 1.1421-1.1356.
USD/JPY: The pair has changed very little in the past 24 hours trading sideways as the USD gives way to the Yen from 113.01-112.78.

Commodities:

Oil: Plagued by oversupply issues and lack of conclusive forward guidance on the number of barrels OPEC and Co- may agree to cut to curb prices ahead of it 6 December, OPEC meeting, and today’s Baker Hughes Rig Count. Oil prices remain vulnerable, trading down 1.75%. The day’s highs stand at 54.11 with it support set at 52.86 further downside movement to 51+ by late EU afternoon will not be a surprise. At least dropping between 3%- 4%.
XAU/USD: The precious metal let out some steam yet, remains in familiar range down 0.44% between1,228.61-1,221.61

Cryptocurrencies:

The carnage in the crypto arena is ongoing BTC sheds nearly 25% in 7 days and out of almost 2,504 Tokens, only 0.2% were found bullish today. Could this be a good time to close our eyes and buy back into them or there remains more room for it to go down?

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https://www.investing.com/news/stock-market-news/stocks–us-futures-fall-as-black-friday-retail-sales-kickoff-1698415

US Thanksgiving and Market Reactions

With the US Market closed for Thanksgiving day, The USD already seems tipsy. Paving the way for other currencies and the safe havens to climb. Head of the publication of ECB’s Monetary Policy Meeting.

The See-saw movement documented in the post at the beginning of the week persist.

Global Stocks: The smirk was wiped of the face of EU stocks which rallied Wednesday. Asian shares dropped as growth concerns weighed on market participant’s sentiments.

Germany30: Could not hold on to yesterday’s gains for too long. Dipping from 11,269.5 to 11,165 a 0.76% by the time of print 09:25 GMT. With possible downside spiral to lows of 11,115.5.
UK100: Evidence for the yield curve reveals the UK100 shares have been oscillating around in familiar territory down 1.39% and ranging between 7,036.47 – 6,943.75.
Italy 40: As Italy stubbornly avoids complying with the EU requirements for its 2019 budget. The Banks which encouraged Wednesday’s rally slumped. The Share price fell from 18,652.50 – 18,502.50.
US 30: Fell into remission trading sideways from 24,669.79 – 24,463.28.

Currencies:

GBP/USD: The Cable £ rose against the Greenback$ shooting up from lows of 1.2771- highs of 1.2874. it could easily cross the 1.29 levels before midday GMT.
EUR/USD: The pair was seen very bullish at the time of print, they stood at 1.1401 ranging from a support level of 1.1364 with resistance set at 1.1426 further upside to 1.1435 is very possible before experiencing knee jerks.
USD/JPY: With investors averting risk, JPY regained the momentum of the USD trading down at 112.95 a drop of 0.11% a set in a range from 113.23 – 112.88

Commodities:

Oil: At the time of print WTI Crude oil prices stood at 54.30 oscillating between 54.25- 54.82. With increased US production and OPEC yet to consider embracing supply cuts at its upcoming OPEC Meeting, prices are likely to fall perhaps into the 53 levels.
XAU/USD: Despite pulling back slightly after the Diwali celebrations. Demand for Gold remains high in the volatile market. Up 0.17% ranging from 1,224.94 – 1,229.10. playing its role as a safe haven.

Cryptocurrencies:

Regulation issues and a recent probe into BTC to investigate whether any unlawful practices were implored to increase its value by pegged it to the USD.

Meanwhile panic is rampant almost all tokens are in red.

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https://uk.investing.com/news/forex-news/forex–dollar-dips-in-muted-trade-euro-gains-ground-1388482

https://www.cnbc.com/2018/11/20/regulators-investigate-whether-bitcoin-price-was-propped-up-illegally.html