Page 121 – XTrade

Q3 Earnings, Week Begins With Some Reflections

The Week begins with some reflection over what drove markets last week and perhaps the facts which could impact trends this week. Just when Analysts had stuck their heads out to hail the end of the rout and proclaim markets corrections the reality on grounds suggests otherwise.

Global Stocks

It seems the Sino-US trade tiffs continues to weigh on the Asian markets. Perhaps adding to the slowdown in the Chinese economy as investors wade through a pool of uncertainties. With Asian markets in a bearish mode, the wave of negative sentiments is thus split on to the EU markets, exhibiting mixed undertones.

Wall Street seems optimistic as we enter into the second week of Q3 earnings reports. On the docket Bank of America (BAC), Oil-Dri Corporation of America (ODC), Brainstorm Cell Therapeutics In. (BCLI), Charles Schwab Corp (SCHW) among some 12 other S&P 500 companies, it is expected that the reports like Friday’s will beat market expectations.

US 30: At the time of print 11:54 GMT the asset was trending dovish. Down 0.34% to range between 25,111.0 – 25,338.0 Netflix and Goldman Sachs the initial hope of investors optimism is currently down in premarket.

Germany30: Had begun a buoyant ascend up 0.32% from 11,452.25 – 11,587.24.

Italy 40: Was infected by the up winds trading 19,107.50 – 19,265.00. rallying 0.18%

UK100: Whether directly related or not is opened to debate. However, it could be noted that the Brexit saga, is waning on the UK economy. Most of the time in unsuspected adverse ways. By the time of print UK 100 was bearish, caught between 6,960.76 – 7,019.25 and down 0.11%

DXY: The Most evident is the DXY showing clear signs that the USD has taken a breather shedding 0.24 % at 94.99 and set to trend between 94.98 – 95.37

Currencies:

The USD let out some steam giving way for other currencies to take a sigh.

EUR/USD: swings between gains and losses between 1.1541 – 1.1600 by the time of print up 0.30% at 1.1594 ahead of the US retail sales report.

GBP/USD: the pair was staggering earlier Monday morning attempting to take advantage of the weakness in the USD but at the same time cringing on Brexit deadlock. The pair was seen trading between 1.3085 – 1.3258 up 0.14% at 1.3173.

USD/JPY: The USD was seen losing more grounds to the safe heaven JPY as equities parked. The pair traded low, down 0.30% from 112.50 -111.62

Commodities:

Oil: The Politics surrounding Oil is not new and thus behooves Oil trades to be as dynamic and flexible to ride the volatility surrounding this Black Gold by the time of print swung between 71.28 – 72.69 up 0.77%. Concerns of further demand and supply are a murky as could be. Yet Saudi, amid tensions over the missing journalist, reaffirmed to honor its commitment to meet Indian oil demands.

Nickel: Lost gains from Friday to range between 12,807.50 – 12,597.50 down 0.26% at 12,657.50.

XAU/USD: Gold Climbed as some investors turned their focus from the USD to hedge.

Silver: Was also carried along up 0.82% between 14.620-14.805.

Copper: Surges 0.37% at 2.811 range bound between 2.793 – 2.820

For further details please visit com. You may also leave your comments below.

https://uk.investing.com/news/economy-news/top-5-things-to-know-in-the-market-on-monday-1343263

https://finance.yahoo.com/calendar/earnings/?guccounter=1

https://www.cnbc.com/2018/10/15/saudi-king-orders-investigation-into-khashoggi-case-reuters-reports.html

Changing Tides, Market Rebounds From Rout USD Lurks

After such a perturbed rout in global markets, the tides are changing again as the USD lurks, in what seems to be a green day across all boards albeit not out of the woods yet, with some major Banks releasing their Q3 Earning reports, Investors are optimistic today with a deck of options to choose from, in Friday’s usual profit-taking. With China reporting a surplus of nearly $35 billion with the US despite the trade woes.

Global Stocks: As Asian stocks recovered modestly. The upbeat sentiment spilled over to the EU shares which were helped by the auto and tech stocks. while the US looks up to wall street for support.

US 30: following a plunge of nearly 400 points or pips, the asset is projected to open higher perhaps recouping loses with a possible rally of about 400 pips by the time of print 08:17 GMT, it stood at up 1.00% at 25,436. with current highs set at 25,545.0 and lows recorded at 25,195.0. In case JPMorgan Chase & Co, (JPM), Wells Fargo & Co. (WFC), Citigroup Inc.(C), First Republic Bank (FRC) and PNC Financial Services Group Inc.(PNC) reports come out positive Wall street will finish the week in green.

Germany30; Opened at 11,688.15 higher than its previous close of 11,539 and remains bullish up 0.61% in a range between 11,591.37 – 11,692.53.

Italy 40: Got some hawkish wings surging 0.45% trading from 19,388.50 – 19,569.50. Although Italian political and budgetary uncertainties hover over positive moves.

UK100: Also posted gains surging 0.42% at 7,036.5 and trending between 7,024.27 – 7,055.64. As UK’s Chancellor of the Exchequer Hammond claims to be more optimistic for Brexit report from Bali.

DXY: In conjunction to Thursday’s post the US dollar index remains steady jumping in and out of gains yet above the 95 thresholds most of the time and ranging between 94.95 – 95.14

Currencies: By late Thursday most of the basket of major currencies were seen bullish to the USD. As investors shorted the USD.

EUR/USD: was one of the major beneficiaries climbing beyond the 1.16 threshold as reports on US Consumer Price Index disappointed expectations. However, upside movement may now be restricted due as the USD stays resilient at the time of print the pair was looking shedding gains in a range between 1.1432 – 1.1610

GBP/USD: As Windsor Castle readies for a second Royal Wedding, The appetite for GBP liquidity rose modestly, however with the USD steady and resilient Upside movement beyond current resistance levels of 1.3258 may be a bit too much to ask. The likely trajectory for the pair is set to range between1.3207 – 1.3258.

USD/JPY: As trade concerns are parked the USD rose stages a small rally against the JPY, up 0.12% oscillating between 112.01 – 112.50.

Commodities:

XAU/USD: XAU managed to climb up to 1,224.30 tracking Thursday’s post. Analyst had project new resistance levels at 1.238 however, Xtrade’s Academy team suggest this may be a long shot with the dollar still gaining attention. The pair were spotted between 1,215.93 – 1,224.45.

Oil: The EIA cut its forecast for global demand perhaps a move to curb oversupply woes in future months. And Reported a decline of nearly 6 million barrels. WTI prices plummeted further to close at 70.97 following the release of the report. Ahead of the Baker Hughes Rig Count report, Crude oil prices were caught between 70.95- 72.00 up 0.68%.

Nickel: Recovered nicely from Thursday’s dovish mood up 0.96% with further upside possible, ranging from 12,642.50 – 12,875.00.

Silver: Rose to trade between 14.540 – 14.655 up 0.23%

Copper: Rallied 0.64% to trade from 2,775 -2,826

For further details please visit com. You may also leave your comments below.

https://www.investing.com/news/economy-news/top-5-things-to-know-in-the-market-on-friday-1641792

https://www.investing.com/news/forex-news/as-brexit-talks-progress-uk-pm-may-struggles-to-find-support-at-home-1641848

https://www.eia.gov/petroleum/supply/weekly/

“Trumpnomics” and Raising US Bonds kicks Global Stocks down!

Although it is known, that surges in US Yields puts pressure on stocks, whereby a fair amount of investors tend to leave the shares and look for ways to buy into the raising Bonds Market, for long-term profits, market participants were shaken Thursday to witness a global rout not seen in nearly 2 years. Some prudent traders took cover with the safe haven assets like the JPY, XAU, and CHF, causing a major selloff. Which is likely to continue plaguing the market.

Naturally, The US-China tensions peddle fear sentiments perhaps in line with the IMF’s caveat earlier this week, which warned that

“sudden deterioration in risk sentiment, triggering a broad-based correction in global capital markets and a sharp tightening of global financial conditions.”

Global Stocks: Dwindled as concerns for global economic growth amid increases in Interest rates weighed on sentiments. Asian Shares were down an average of 3.2% across the boards.

US 30: Fell nearly 357 pips sliding from 25,533.0 – 25,176.0. By the time of print 09:31 GMT, it was seen down 1.03% at 25,258. The Tech stocks which usually boosts US stocks were all in a bearish mood, for example, Facebook Inc. was down to 148.88, Amazon down to 1,755.25 in premarket.

Germany30Dropped 1.45% to trade between 11,532.32 – 11,637.63. almost 150 pips slide by the time of print. Further downside is in view before any corrections.

Italy 40caved nearly 300 pips in a range from 19,490.00 – 19,325.00 a drop of 1.54% as it stood capriciously around 19,325.00.

UK100Was seen struggling to hold on between 7,067.25 – 7,067.25 further down sliding may be seen.

DXYDespite the USD ‘s apparent strength, the US Dollar Index was seen losing a bit of its luster down 0.36% yet remains in above 95. Ranging between 15 – 95.43.

Currencies: In conjunctions to Wednesday’s post, conditions seem to reflect a no change. US President’s Trump’s verbal punches to the FED, referring to the autonomous body (FOMC) and its Chair Jarome Powell as “crazy” was frowned upon even by IMF Chair Christine Lagarde and a throng of Central Bankers.

EUR/USD: The pair was resilient, trailblazing from 1.1432 – 1.1576 up 0.43%
GBP/USD: was seen struggling in the early trading hours due to disappointing House Price Balance Report from the (RICS) however, upside trends maybe visible the pair was seen trading between 1.3182-1.3243.
USD/JPY: Once again the USD lost ground the safe haven JPY receding from Wednesdays rally 113.22, down 0.9% in a range of 111.98 – 112.38 where USD seemed vulnerable.

Commodities:

XAU/USD: Today XAU was showing off vs the USD, as traders’ bank on the precious metal. By the time of print the pair was 0.73% up ranging between 1,191.34 – 1,205.71

Oil: Unfortunately fell further down, pressed by a cut in global economic growth projections and increased stockpiles according to the API report on Wednesday revealing stockpiles stood at 9.7 million bbl a surge of approximately 2.7million barrels. Trading down 1.68% between 72.76 -71.64

Nickel: Falls further from yesterday’s levels trading downwards from 12,672.50 – 12,387.50

Silver: followed gold in up streams up 0.59% oscillating from 14,275-14,470
Copper: could not hold it center bolt, down 1.48% in reverse mood from 2.764-2.713 as China’s factory orders fall so does demand in copper. Since China is one of the major importers of copper.

Cryptocurrencies: Remain in bearish mood.

For further details please visit com. You may also leave your comments below.

https://www.cnbc.com/2018/10/11/top-officials-praise-the-fed-and-its-independence-after-new-attacks-from-president-trump.html

https://www.investing.com/news/commodities-news/opecs-barkindo-factors-beyond-producers-control-are-impacting-oil-market-1640058

Weekly Market Expose

This edition aims to sum up some of the factors driving or disrupting market trends. Prudent examination triggers confidence for those who care to pay attention and accords ‘Forward Guidance”, borrowing the phrase from Central Bankers.

Market participants have had their fair share of roller-coaster epic time framed in knee-jerking events, As The US brazenly flaunts America First Policies promised by US President Trump. The Trade US Trade Tariffs imposed on China, Canada, Mexico, and Germany is generating a lot of uncertainties heating up nerves for those not paying attention to details the lessons carry a heavy toll.

On the other front the Organization for Petroleum Exporting Countries and its allies like Russia, henceforth the be noted as OPEC+ championed the removable of surplus oil that was dragging Oil price down by cutting production quota down. The Same OPEC+ have been instrumental in restoring a limited increase cap of between 600,000-800,000bdp or as some sources suggest up to 1million barrels. move that was welcomed by investors as bullish.

Many technical analysts are now forced to implore strategies which combine fundamentals.

Dollar Reigns as Global markets Adjust

Day Trading Forex Strategies for Successful Traders

Ahead of a deluge of reports on the docket of the economic calendar abrupt surges and trough are likely to be seen in early EU trading hours. As investors await reports on the Italian Industrial production, UK GDP, UK Construction data and US PPI to name but a few. Diving straight into the Market let take a glance at the usual suspects.

Global Stocks:

Asian Stocks were left in a bearish state even though the sale of global bond slows down. Naturally, the EU shares were pressed down in tandem.

Germany30 Churning at 11,950.22 down 0.24% and in a range from 11,921.73 – 11,986.07.
Italy 40 was bearish 0.17% swinging from 20,010.00- 19,832.50. with inconclusive reports that the Italy government will not change it budgetary approach.
UK100 was also forced to cringe a bit down, 0.22% at 7,217.50 trending from 7,234.25-7.217.50.
US 30 was sliding between 26,521.0 – 26,424.0 down 0.10% at the time of print 0:7:52 GMT. However with earnings about 4 companies delivering their Q3 earnings
DXY is seen bullish in the range between 95.55 – 95.79 affirming USD ‘s resilience

Currencies: A basket of major currencies attempt a slight recovery against the already firm but parked dollar following President Trump’s comments that the Fed was racing with the hikes at a time when the USD was strong. Again an act is seen as meddling the Fed’s Mandate. Some investors saw this as a caveat or sign to buy into other currencies.

EUR/USD: Climbed to 1.1504 with a range path set between 1.1432-1.1530 upside movements are seen capped even should economic releases turn out to exceed market expectations.
GBP/USD: rallied to 13181 up 0.27% range bound between 1.1432-1.1530. The abrupt rally is seen unsupported and likely to fade bay before mid-day.
USD/JPY: With all the hype on the USD it managed to regain it crown against the JPY safe haven up 0.21% at 113.91 to trade from previous lows 112.93-113.22 upside trends are viewed with caution.

Commodities: The USD’s strength and the slow growth in Chinese factory productions weight on commodities.

XAU/USD Was down trotting as the USD flexes it muscle. The pair were seen 0.23% down at 1,187.10 likely to range 1,186.42 – 1,191.41
Oil: With hurricanes likely hitting the US coasts. Rigs have been closed due to safety concerns. Which puts pressure on prices Tuesday’s API report was shifted to today and not as reported in Tuesday’s blog post. Hence Crude Oil inventories are to be expected on Thursday due to the US Bond market closure on Monday for Columbus Day celebrations. The IMF’s cut in global growth did not help oil prices plummeting from 74.92-74.50 a 0.25% decline putting investors in a wait and see scenario.
Nickel: drops 0.58% to range from 13,015.00 -12,857.50

It should be noted however that Silver and Copper remain the odd ones out, standing tall at the moment upside movement does not seem to be sustained.

Silver: was up 0.07% at 14.410 rallying from 14.340 – 14.455
Copper: Spotted jumping in out of gains between 2.788 – 2.820

Cryptocurrencies: The only thing that could be said about the Cryptocurrencies is disappointing. Reports of widespread hacks keep eroding investors’ confidence and to allow room for a consistent rally. Although some savvy traders have managed to capture the momentum moves.

For further details please visit com. You may also leave your comments below.

https://uk.investing.com/news/economy-news/italian-bonds-sell-off-as-5star-league-inch-towards-government-1180298

https://uk.investing.com/news/cryptocurrency-news/cryptocurrencies-drop-tiberius-stops-selling-digital-tokens-1338319

https://finance.yahoo.com/calendar/earnings/?guccounter=1

Sino-US trade tensions parades on Market sentiment

The market is nothing but dull these days spiced by unresolved Sino-US Trade tensions, fears of a stronger USD which encourages a high possibility of another Fed rate hike which currently has about 81% of market participants priced in. Inconclusive Brexit jitters which are said to have of 40 MP’s rallying against PM Theresa May’s Brexit deal weighs on sentiment and clarity of future trends.

Today, however, as bond traders return from Columbus day celebrations, the US market is in full throttle.

Global Stocks:

Although Asian shares were seen bearish at 17 months’ lows, while EU shares recover slightly on rising Oil and banking stocks. Italian saga keeps a lid on upside movements.

Germany30 Was seen hopeful earlier at the time of print 08:42 GMT at 11,963.67 ranging between 11,948.55-11,972.83 upside movement may be restricted. A surge of up to 40pips may not be surprising neither a drop of up 60pips perhaps to 11,880.00.

Italy 40 By the time of print the shares were noted at 19,935.00 in a range from 19,630.00 – 19,965.00 and bullish, however, with the Italian budgetary weighing reversals of up to -0.80% or more may be prudently anticipated.

UK100 standing hawkish at 7,236.75 and oscillating between 7,235.00-7,246.34 and in search of support to continue surging or else expect a selloff.

US 30 felt trapped between 26,394.0 – 26,555.0 before the open bell. Perhaps wall street may get a break with some of the first earning season numbers. Although unlikely with US yields high. anything is possible as earnings season kicks in

Currencies:

EUR/USD: Could not rid itself of the albatross of the USD strength. Plummeting 0.45% from 1.1530 – 1.1436 perhaps dropping 20 pips by the end of the day, although technical indicators such as the RSI indicates it is at the support levels with possible upside reversals.
GBP/USD: Continues to be pressed down with a decline of 0.36% ranging from 1.3034-1.3106 at 1.3043 by the time of print.
USD/JPY: Although the dollar is up against a basket of major currencies. The JPY stood tall vs. the USD which shed 0.09% from 112.94 – 113.40 as some investors in Asia sort to hedge with the safe haven currency.

Commodities

XAU/USD Was seen sunbathing around 1,190.61 and to range from 1,187.94 -1,191.85 as investors sort to hedge, upside movement, is still seen capped as the USD retains its footing.
Oil: Reports of Iran exports decline as the US sanctions near implementation, coupled with possible production disruptions from Canada Saint John’s refinery supported prices, by the time of print Crude Oil WTI was up 0.69% trading from 74.19-74.80 further upside is seen ahead of the API Crude oil stockpiles.

Cryptocurrencies:

Meanwhile, some investors resorted to taking chances with the Cryptocurrencies. as rumors of a HongKongian investment firm is said to announce its backing of a Swiss bank to become perhaps one of the first cryptocurrency investment banks. BTC and several tokens were seen Hawkish.

For further details please visit com. You may also leave your comments below.

Related Links:

https://uk.investing.com/central-banks/fed-rate-monitorhttps://uk.investing.com/indices/germany-30https://uk.investing.com/news/cryptocurrency-news/cryptocurrencies-rise-hong-kong-investment-firm-backs-crypto-bank-1336956