Page 118 – XTrade

Italian Banks Push EU Markets Up, With Domino effects. Oil Report on Tap

Retailers are gearing up to take advantage of the upcoming Black Friday sales or so it seems. Ahead of today deluge of market events. The US will be releasing its reports on Initials jobless claims, Existing Home Sales, and Crude Oil inventories. The DXY which measures the strength of the USD was seen in a down spiral albeit above 96 levels trading between 96.58 – 96.87. Meanwhile, Italy seems to be boosting a push up in EU market trends up.

Global Stocks: Woke up gleefully today. Despite Tuesday’s drop. Asian shares are attempting to hold the forte while EU shares rose on hopes from the rebound in the Italian banking sector with a domino effect uptilting other markets. Even the US stocks are looking towards a bullish day.

Germany30: After closing down at 11,066.41 Tuesday the shares regained momentum to climb up 55pips ranging from 11,118.35 – 11,181.77.
UK100: Rallies 0.58% to 6,987.03at the time of print 09:43 GMT. Attempting to regain hold of the 7k levels. Ranging from 6,953.58 – 7,013.75.
Italy 40: Which was lagging in the early trading hours rose 133.50 pips a 0.72% trading up, between 18,597.50 – 18,727.50 a tad shy from the 19k levels.
US 30: Reversed losses to gains up 71 pips trading from 24,382.0 – 24,592.0.

Currencies:

GBP/USD: The pair once again sort climb on back USD apparent retreated weakness in the face of risk aversion trading between 1.2773 – 1.2883. This pair remains very volatile, with gains capped.
EUR/USD: Is very capricious poised to regain losses and ranging between 1.1364 – 1.1410 already up 0.04 % by the time of print.
USD/JPY: The Yen took a back seat to the USD Wednesday morning. The pair closed at 112.77 Tuesday. However, now ranges between 112.65 – 113.15

Commodities:

Oil: With references to yesterday’s post, Traders saw trends performing exactly as our analyst predicted although WTI crude oil prices did in fact drop after the API report to 53.43. However, rallies ahead of the EIA crude oil inventories trading between 53.41 – 54.70 up, 1.59% upside movement seen limited. around 55 before another slip.
XAU/USD: The pair was hawkish up 0.13% trading between 1,219.87 – 1,225.47

Cryptocurrencies: Its mayhem in the Crypto market. As investors seek understanding. Other countries like India are pushing to pilot the Blockchain to replace SWIFT money transaction. Liquidity providers in Singapore sue a Crypto exchange for 13.7 million. Meanwhile, North Korea readies to hold A crypto conference all this indicates there is an innate interest in the Crypto market.

Even Tom Lee predicts by the end of the year it could climb back to 15,000 others like Arthur Hayes says, 50,000 whether this will be realized remains to be seen.

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The Market is Back On A See-Saw Just swinging!

Looking at the market widow it looks like a see-saw. The USD recoils, following dovish comments on the prospects of the upcoming Fed rate hike. The US Dollar Index (DXY), does not show clear evidence of this dovish nosedive. Oscillating between 96.04 – 96.34. Albeit capricious ahead of today’s economic events in which investors will be focusing on the US Building Permits Reports gauging the strength of the economy. Amid OPEC’s meeting, UK’s Inflation Report Hearing and Gov. Mark Carney’s speech which are all due on the docket.

Global Stocks:
The outlook for global shares remains grime, as Asian shares take a beating. Ensued by US-China trade tensions. The Tech industry which many market participants hoped would resuscitate the market failed, as they come to terms with new changes related to Privacy Protection, while fulfilling any pending or otherwise legally binding clauses for action or omission.

Asian Shares were further bruised by Nissan’s head Goshan allegations of fraudulent activities sending Nissan Group stock prices plummeting and threatening global carnage.

US 30: Continues to bleed, down 0.57% trading from 25,042.0 – 24,837.0 at the time of print 09:00 GMT,
Germany30: Dropped 1.24% trading in reverse from 11,216.5 – 11,085.5
UK100: Inevitably, succumbed to its open Brexit wounds and ailing market conditions, dropping below the 7k handle to trade between 6,995.54 resistance levels to 6,953.15 support levels.
Italy 40: Was seen slipping further away from the 19,000 comfort zone. Down 0.89% between highs of 18,522.50 to lows of 18,797.50
DXY has been gain momentum since Tuesday EU morning perhaps triggered by the expectation of a positive outcome from the economic events of the day.

Currencies:

GBP/USD: In perhaps in small way spread-betters attempted to take some profits playing on the faux weakness of the USD. The pair were seen indecisive jumping in &out of losses in a range below the 1.29 level (1.2881- 1.2823), ahead of BOE Governor Mr. Carneys speech.
EUR/USD: The Pair exhibits similar signs of uncertainty in its direction. Upside movements are limited, ranging between 1.1394 – 1.1472
USD/JPY: The Yen seems to be the only consistent one since the beginning of the week stance dominance of the USD to trade down 0.21% between 1.1394 – 1.1472

Commodities:

Oil: Yesterday’s prognosis still seems applicable today. In the face of the politics surrounding the US drilling and OPEC & co efforts to curb prices. Russia refused to comply with cutting production to satisfy the whims of the US per se. Market participants will be itching to learn of what took place at the OPEC Meeting today to assess the direction of the trends, Upside movement is capped by the time of print WTI oil was up 0.38% at 56.98 the next resistance level was established around 57.90 after which reversals are expected to send price down perhaps back to 56.50 Post The API weekly US stockpiles report.
XAU/USD: While investors are forced to seek cover they will turn to the precious metal for a shield as a safe haven. However abrupt spikes or troughs should not be a surprise. Ranging between 1,221.21 – 1,226.06.

Cryptocurrencies:

Its been a while since we touch on this arena. However, conditions deem we revisit this. recalling our articles in which were conspicuously deciphered the statement of Arthur Hayes CEO of Bitmex in May, claiming the Bitcoin is likely to drop below 5,000 before coming up to about 20,000-50,000. BTC is now 4,555.0 trading down 15.24 % against the USD in a range between 4,411.0 – 5,374.0

Most of all other tokens remain downtrodden.

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Is this the end ? Or Another comeback?

Is this the end? Or another comeback? Market sentiments seem “Frizzled” to say the least. The continuous jabs to the US-China Trade tensions, with counter and pro rhetoric, has been a catalyst in driving market volatility.

This 4^th Quarterly, earnings session draws to an end without being able to bolster the Stock Market as in the Q3 sessions.

Investors are hopeful that perhaps US and China could reach some sort of understanding during the G- 20 summit set for 30^th November 2018 in Buenos Aires Argentina even though the road to it has been bumpy the latest impasse happened over the weekend at the APEC meeting. Naturally, should a deal be reached, it would likely add a positive touch to the Stock market and alleviate some of the tech, financial, and agricultural shares which are slumping.

Meanwhile, some investors are taking a cautious path and looking towards the safe havens, like Gold, JPY, and to some extent, the CHF were all bullish to the USD. While others go fishing for other assets to diversify. Some are looking at the new booming Medical Cannabis firms and stocks. Analysts are projecting the value of global shares in Medical Weed is to rise to about 230%. Thus attracting investors.

Prospects for a December fed rate hike stands at nearly 75.8%. dropping from 92% as some market participants, relate to US President Trump’s displeasure at the pace of the rate hikes amid growth concerns.

Global Stocks:
Global shares were seen mixed Monday morning with Asian stocks were still pressured. However, EU Shares turned bullish with gains capped as the mining industry boosted the indices. The US stocks, however, are expected to remain dovish.

US 30: was down trotting shedding 0.29% by 12:00 GMT and ranging from 25,338.0 – 25,490.0
Germany30: Rose modestly from it open of 11,345.4 to 11,414.5 before giving up some gains to trade between 11,295.0 – 11,414.5
UK100: Was upbeat even as Brexit syndrome weighs. Up 0.57% trading from 7,025.75 – 7,071.10.
Italy 40: joined the up trending. From it open of 18,902.50 surging to 19,127.50 before fizzling down to 18,952 by 13:00 GMT up 0.57% with daily highs set at 19,127.50.
Meanwhile (DXY) signals the USD’s giving up steam. Down 0.16% trading between 96.29 – 96.57 As President Trump urges the White House to pressure the Fed to cool off.

Currencies:

GBP/USD: With the USD down, the pair climbed 0.12% by the time of print ranging from 1.2797 – 1.2883.
EUR/USD: Even this pair found some positive winds. Trading up 0.15% between 1.1394 – 1.1438.
USD/JPY: The USD gave up to the JPY as mentioned earlier trading between highs of 112.85 to lows 112.61

Commodities:

Oil: Prices remain capriciously political in the early house of Monday Analyst suggested an uptrend however further insights suggest this capped with potentially abrupt downswings so long as the sanction against Saudi Arabia in its involvement in the murdered journalist case. WTI Crude is seen ranging 55.81 – 57.55 the forecast to 59.00 was not realized.
XAU/USD: Swung between 1,218.11 – 1,223.65 between gains and loses

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Incited market sentiment bounce with NFP

Us president Donald Trump incited market sentiment following global market recovery Wednesday. However indecisive rhetoric on imposing sanctions on China should the US & China fail to reach any conclusions, sent investors veering for cover on Thursday. Which was slightly exacerbated by Apple Inc. Despite beating expectations with an EPS (earnings per share) of 4.68 instead of 2.91 the forecast for future turnovers was lame with a caveat that holiday sales could bring value down by $1trillion according to some experts close to the matter its share price has since dropped nearly 5 % albeit trading side-ways in short (fiscal first quarter guidance) missed expectations.

Yet ahead of the Day’s main report; the US Jobs report (NFP) Non-farm payrolls which are expected to be positive if we are to take our cue from the ADP spectacular report, coupled with the release of some 70+ Earnings report the market gleefully embraced hopes that the US and China could indeed reach a Trade deal.

Global Stocks:
Chinese’s shares rose on hopes of Trumps’ tweet revealing the welcoming news that both He and president Xi had a productive conversation toward hashing out the Trade Tiffs, propelling The EU Shares to climb as well. In fact, the US is also set to open strong.

Germany30: shot past Wednesday’s highs seen 1.75% up ranging between 11,595.66 -11,671.58 at 11,669.07 by the time of print 10:53 GMT.
Italy 40: Was seen up 1.86% in a range from 19,322.50 – 19,477.50
UK100: Gained fresh hawkish wings as the mining sector, amongst others led the rally. Obviously, Brexit optimism and prospects for calmer heads in the US-Chinese saga helped seen rallying 0.68% at 7,163.37 ranging from 7,153.75 – 7,195.91.
US 30: Has been able to keep its head above the 24k levels ranging from 25,196.0 – 25,679.0 up 0.91% at the time of print.

The Dollar Index (DXY), meanwhile recede from the 97 to range between 95.99 – 96.40 down 0.13%.

Currencies:

GBP/USD: Rallied early Friday morning, 0.7% and hold it neck above the 1.30 levels seen trending from 1.2986 – 1.3041. However, upside movement remains limited ahead of the US NFP, which could send the GBP to the queen for a cup of tea.
EUR/USD: Shot up 0.10% from 1.1391 – 1.1456 how very capricious. Analysts will be in ewe should the EUR cross to a 1.15 handle. As the EU awaits its stress test.
USD/JPY: Although the Greenback fell from Wednesday highs against the Yen it was seen 0.15% up between 112.56 – 113.10.

Commodities:

Oil: Oversupply woes pushed oil prices further down today ahead of the drilling report from Baker Hughes Rig Count. WTI was seen struggling under the $64bbl mark. Down 0.47% ranging from 63.27 – 63.95.
XAU/USD: Despite the increased purchase of gold by some central banks especially the Russian central bank as reported by the WGC to its highest in 3 years to approximately 150 Metric tons and the anticipation of the Diwali holidays Gold prices seem to be unable to maintain a consistency stance against the stronger USD. However, it has been oscillating between 1,229.88 – 1,236.51 depending on risk on/ risk off factors. Today down 0.26% ahead of the NFP.

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Related Links:

https://www.investing.com/news/stock-market-news/apple-warns-holiday-sales-may-disappoint-amid-weakness-in-emerging-markets-1670944

https://www.investing.com/news/economy-news/top-5-things-to-know-in-the-market-on-friday-1671555

Another View: Why Forex Education Matters

Forex Education is that thing that gives you the correct dose of confidence. When you have ambition, taking action becomes second nature. Trading and Investing online requires the appropriate know how’s to operate, strive and succeed (OSS). Many people have varying views, on how to approach Trading. Some say, “Start and learn as you progress” while others claim, “you need to have all the Education before you start trading.”

Irrespective of the view, you may hold, there is no doubt education, is an essential part of the success package in your trading career.

Steps:

With any new hobby, profession, or skill. A plan is needed. In which Identification, Familiarity, Practice, and Consistency become the building blocks to Master your Plan and execute at it will.

In the first stages, identify with all you need to begin your trading. i.e., What kind of Assets you wish to trade on (Currency Pairs, Commodities, Indices, and or Stocks). The trading timeframes concerning your availability, accessibility to the Internet and up to date information.

The Second stage is when you become familiar with the asset(s) of your choice, by learning about them. (Start with 2 or 3 assets). Then gradually diversify your portfolio. During this phase questions concerning the Who, What, Why/When should be addressed. For example:

Who Controls the Asset of your choice?
What is done or not done?
Why was that action taken?
When will it affect, if any?

During the third stage, you should be testing and be practicing to become perfect, opening, closing trades and exploring other methods, by the fourth stage you should be consistent with your custom plan or approach with fine tunings.

Tools:

Most Brokers and online platforms will usually provide you with a wide range of financial tools. Since learning is subjective, some may prefer a technical approach, while others prefer a fundamentals approach.

Once are familiar, with those tools. Using them correctly is likely to increase your success and profitability exponentially. The accessibility to specific “tools,” maybe at the discretion of the Broker. The standard tools are usually visual or textual and could be, divided into Fundamental and Technical Tools or Indicators.

Fundamental Tools/Indicators are Market related data, derived from the news (TV, Radio, Internet). Summations or complete data are usually, obtained from the Brokers website, blog posts, daily financial news or reviews and YouTube video updates which are all updated periodically with current events derived from the Financial Calendar.
Technical Tools /IndicatorsThese usually consist of all the different types of Trading platforms, like (Web Trader, Mobile Trading App, MT4,) as well as Graphs and charting systems, like (Candle Stick Charts, Autochartist, etc.) Mastering both approaches will most definitely equip you with more strategic options and flexibility both in spotting great treading opportunities and limiting your risks.
As you become aware of your options and choices, to increase your knowledge, the recommendation is to find 1-3 mediums that best suits you. Don’t hesitate, if you can’t find any. Start slow, aim to spend 10-30 minutes each day to learn more about your intended trades and Online Trading.

An Amazing Recovery For Global Markets

What an amazing recovery for global markets today. Facebook’s Q3 earnings on Tuesday had a capricious effect on trends rallying 3% before the open bell, then shedding almost all gains after the report fell short of estimates, Market participants took a few moments to decipher the reports and then decided to go long. Bringing the shares up 2.91% to trade between 139.74 – 146.64 Wednesday morning in premarket. Open market open it is expected to jump another 3% or more. Likely to keep the US 30 in flight mode with probably another 120 or pips as GM and others are set to release their reports. On the Docket today are the following:

US private sector payrolls data from the ADP with Analysts predicting a 189k
Crude oil inventories from the EIA with a prediction of a surge US WTI inventories.

Global Stocks:
Global shares were in an upbeat mood as Facebook earnings relieved investors’ fears coupled with several better than expected Q3 results from a deluge of companies yesterday

Germany30: Rallied almost 1.50% with further upside trading between 11,392.77 – 11,487.88
Italy 40: was seen up 0.28% in a range from 18,957.50 – 19,177.50
UK100: Despite Brexit woes, the Index rose 1.58% to trade from 7,112.91 – 7,160.01
US 30: As mentioned earlier the due to companies like GM and the tech industries recovery the US 30 is poised for to surge above the 24,950 mark at the time of print 09:45 GMT is seen trading between 24,823.0 – 24,904 with hawkish wings. Perhaps with a rise of 1.5%

The Dollar Index (DXY) climbed up crossing the 97 thresholds to trade between 96.88 – 97.19 in a demonstration of the USD’s strength a display of continuous uptrends not seen in nearly two years.

Currencies:

GBP/USD: After plummeting below the 1.26 levels the pair was seen recovering and trading from 1.2699 – 1.2780 bullishly.
EUR/USD: Was seen as the biggest loser down 0.08% to trade from 1.1311 – 1.1416
USD/JPY: The dollar dominated the yen trending from 113.03 – 113.38.

Commodities:

Oil: In anticipation of the day Crude oil inventories WTI prices drop below it open of 66.31 to lows of 65.80 should the report beat market expectation below the 4,110 million barrels. Prices may spike perhaps to $67 bbl before reverting down.
XAU/USD: gold prices are expected to remain subdued trading from 1,223.36 – 1,216.08 or further down.

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https://www.investing.com/news/stock-market-news/futures-rise-as-facebook-lifts-highgrowth-stocks-1667558

https://www.cnbc.com/2018/10/31/chinese-pmi-china-reports-official-manufacturing-purchasing-managers-index-for-october.html

https://www.cnbc.com/2018/10/30/yellen-says-rising-us-deficit-unsustainable-if-i-had-a-magic-wand-i-would-raise-taxes.html