Green Day For Global Markets, A Sigh of Relief!

What a sigh of relief for The Markets as investors folk to take advantage of the positive fundamentals ahead of the weekend, coupled with profit taking. The green spectrums seen across all boards and even the red on China’s boards are a positive sign, railing on hopes for more stimulus. With that said, caution is still warranted as correlations and inverse- correlation between assets classes do not seem to be sustainable.

Global Stocks: Global shares are bullish Asian shares are up as are the EU shares. Investors deliberated on the long-term effects of the ongoing trade tiffs between China and the US as with one eye on NAFTA and Brexit. By the time of print 08:30GMT

  • Germany30  rallied 0.92% to 12,435.10 in a range from 12,382.60 – 12,460.34.
  • France40 was trending from  5,463.66 – 5,497.52 up 0.76% at 5,492.68
  • Italy 40 climbed 1.02% to 21,611.50 and  oscillating between 21,496.50 – 21,651.50.
  • UK100 was seen up 0.89% from 7,401.68 – 7,436.58 and jumpy around 7,432.75.

While the tech industry lead by Apple.inc push wall street up

Commodities: As oil prices maintain a hawkish view, US President Trump fired at OPEC to bring prices down. Investors are keeping a close watch on for the OPEC’s World Oil Outlook to be launched in Algiers on 23 September 2018. meanwhile, OPEC Secretary General Mohammad Barkindo, reveals in his interview with Bloomberg on continued co-operation between OPEC and Non-OPEC partners to have the stability to address growing demand.

  • WTI crude: was seen bullish oscillating between 70.14 – 70.86 up 0.65% after crossing the $71bbl threshold.
  • Gold prices picked up to trade from 1,211.40 – 1,215.80.

FX Market:  All Major except for the JPY seem to hold hawkish undertones, however, it would not be a surprise to see corrections downwards as fundamentals begin to fray.

  • EUR/USD  extended gains crossing the 1.18 psychological mark to trade between 1.1669 – 1.1803. up 0.06% at 1.1784 Reports from the EU’s PMI, French PMI, German PMI, may contain uptrends.
  • GBP/USD climbed to trade between 1.3207 – 1.3276 although at the time of print it was hawkish, it remains at the mercy of upcoming reports on Public Sector Net Borrowing and BoE’s Quarterly Bulletin.
  • AUD/USD  lies at the mercy of reports from the US should they been seen as strong the AUD may recede from previous gains currently spotted in a range from 0.7281 – 0.7304.

Meanwhile, the USD continues to triumph over emerging markets like MXN and the TRY. USD/TRY was up 0.97%  found between 6.1950 – 6.2863 while USD/MXN modestly up 0.12% locked between. 18.8270 – 18.8832.

Interestingly the crypto arena has also been doing fairly well occasionally jumping in and out of gains. BTC/USD was seen up 4.62% swinging from 6,340.0 – 6,745.0

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Markets Embrace Tariff Announcement With Oil Climbing

Markets embrace the announcement of tariffs with oil climbing, uncertainties surrounding the US-China tariffs spats which have been plaguing market sentiments for months was announced late Monday, however by Tuesday the market had still not deciphered the implication.

The US demands 10% on $200 billion worth of Chinese goods exempting some Tech companies like Apple from the saga. China also retaliated hitting back with $60 billion on US goods. The restriction goes into effect on 24th September 2018 leaving just enough wiggle room for a recourse should any of the two world economies decide to change their minds.

Global Stocks:  With the market taking the decision as manageable Global stocks ticked up, with Asian shares taking the lead followed by the EU and likely to reflect positively on Wall Street.

  • Italy 40 rallied 0.16% at 21,313.50 ranging between 21,142.50 – 21,335.00 by the time of print 07:44 GMT with further upside in view
  • UK100 was up 0.20% at 7,345.75 trending from  7,323.25 – 7,353.34 with a hawkish outlook
  • Germany30  Climbs 0.25% set in a range from 12,202.64 – 12,301.97 with more upwind in the pipelines.
  •  France40  was trailing upwards by the time of print up 0.24% set between lows and highs ranging from 5,398.20 -5,407.00 Technical analysis suggests second resistance levels around 5,415 and if that were to be breached 5,428 or above.

Commodities: Although commodities are up except for Gold corrections downwards are in view. As the USD is expected to strengthen due to today’s financial reports

  • WTI crude: US Crude Oil inventories dropped -2.057 million, its lowest in the past 3.5-years. With global demand rising, WTI oil rose 0.59% to trade between 70.81 – 71.34 at 71.19 by 07:44 GM. The OPEC meeting set for today may offset prices in either direction.
  • While the Gold spot prices were left marooned between 1,205.90 – 1,211.40.

FX Market:  Despite the USD strength, the 6 major’s currencies are staging a defiant comeback

  • EUR/USD was initially spotted at 1.1687 0.12% up ranging between 1.1669 – 1.1690 with ECB’s Praet set to be speaking this morning the EUR may have more room to climb depending on how investors conceive the tapering plans for the EUR.
  • GBP/USD  Gained modestly  0.11% at 1.3158 market participants remain Lukewarm on the GBP should Core Retail Sales beat market expectation the GBP may climb some more and if not plummet with a day range from 1.3135 – 1.3195 at the time of print.
  • AUD/USD  Swing from 0.7255 – 0.7276 and bullish

The USD fell to the ZAR and MXN however bullish to the TRY. Basically, currencies from Emerging Markets are still stretched and not out of the woods.

Despite the fact that Japan reports of some $60 million stolen in crypto-currencies out of the 2289 tokens 89% were bullish.

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US-China Tariff tiffs continue To Plague, OPEC Meeting on Tap

US-China tariff tiffs continue to plague the market. Almost like a deja- vu from Monday. The financial calendar details events which may add a tinge of volatility away from the grappling trade fears, which may cause abrupt swing for the USD vs other majors.

Global Stocks: 

Once again Asians shares we left standing in the rain as conflicting reports on when US Trump may impose a certain percentage on 200billon worth of Chinese goods. Market participants are mindful of an impending woe thus restricting their trading activities as well. In Early European trading hours, EU shares were also down. Ahead of ECB’s President Mario Draghi’s speech. However, there are bullish undertones which remain to be explored cautiously.

  • Germany30 has enough wiggle room to surge to 12,185.55-12,078.18 up 0.53% or recedes down 0.23% approx.
  • France40  was the early among bird to shrug of trade fears trading up 0.29% at the time of print 08:15 GMT.at 5,378.08 and set to be ranging between 5,348.49 – 5,389.76.
  • UK100 has not fared well down 0.18% from 7,304.75- 7,287.75 with further downside in view possible back the current support levels of 7,286.23 before any corrections are realized.
  • Italy 40 Crossed the 21k threshold trading at 21.138.50 up 0.25% and ranging between 21,058.50 – 21,223.50.

Commodities: Remained pressured down as the tariffs rhetoric continues.

  • WTI crude oil Prices plummeted 0.33% by 07:30 GMT to 68.47 ranging from 68.64-68.29 ahead of Tuesday’s API report and OPEC Meeting after which it may rally back close to the $70.
  • Gold prices also hit the rocks ranging from1,200.30 – 1,206.80.

FX Market: Is mixed with not much logic except driven by sentimental response to Trumpononics. Although the USD has been broadly high for the past 3 months’ other majors such as the EUR, AUD, and for a while the GBP rally against the USD.

  • EUR/USD Ranges in between 1.1667 – 1.1718
  • GBP/USD  Swings to from 1.3070 – 1.3170
  • AUD/USD  Oscillates between 0.7145 – 0.7221

However, the USD remains king over (EMFX) Currencies from Emerging Markets such as the TRY, MXN, and ZAR to name a few.

Meanwhile, some the cryptocurrencies fall into another selloff spiral 98% of the 2279 tokens were in red.

Well Tech shares bath in blood TESLA begins to struggle with delivery as the fire outbreak in one of its production plants.

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Getting The Right Tools For Trading

As we all know every task may have its own unique set of tools to successfully complete a giving task. However, lacking the appropriate knowledge to use them is sometimes more dangerous than not having them at all. The common tools are usually visual or textual and could be divided into Fundamental and Technical Tools or Indicators.

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Tariffs Or No Tariffs What shall It Be?

It seems the hopes for a dialogue between US-China, to reach a compromise in the ongoing trade spats, which boosted market moral Friday were short lived. According to sources, US President Trump as already approved the unleashing of another set of tariffs amount to nearly $200 billion on Chinese goods. Naturally, the announcement put investors on the edge with some shorting Asian stocks.

Global Stocks: Asian Stocks plummeted as a vast majority of market participants cautious attempt to divert funds. The dismal outlook in Asia weighs on European stocks and may affect Wall street negatively when the US Market opens, later during the day at 1:30 GMT.

  • Germany30 was on a downward spiral between 12,085.45 -12,047.71 by the time of print at 07:30 GMT it had lost 0.53% jumpy around12.059.17.
  • France40 shed 0.29% to at 5,332.34 with further downside in view ranging between 5,331.76 – 5,347.01
  • UK100 Dropped 0.13% trading in reverse from 7,300.00-7,275.92.
  • Italy 40 While most EU stocks slid the Italian Shares managed to hold gains in check trading up 0.33% in a range from  20,680.00 – 20,845.00 likely to be boosted further by the Italian Trade balance.

Commodities: It seems too early to overstand ultimate direction of the commodities, however, the Metals are currently under pressure mostly due to the trade tiffs.

  • XAU/USD remains very volatile, it was seen at the time of print ranging from 1,192.89 – 1,197.35
  • Copper Prices have been languishing low  between 2.638- 2.607 with a loss of 0.57%
  • WTI Oil amid the commotion Oil prices was least affected by the Baker Hughes Rig Count which rose from 860 to 867. The current forecast in a bullish trend ranging from 68.53 – 69.23 up 0.63%

FX Market: With the Financial calendar light yet laced with reports of Eurozone’s CPI, the German Buba Monthly Report,

  • EUR/USD remains in a trend of 1.1618 – 1.1661 up 0.22%
  • GBP/USD meanwhile held onto its gains above the 1.30 level trading between 1.3070 – 1.3104.

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Profit-Taking, Optimistic Mood, Market Short Bounce.

Asian Markets continues to be bolstered by the cordial reception of both the US and China to enter further rounds to curb the escalating trade tiffs. The optimistic mood was carried to the European Markets, helped by Apple.Inc shares.     Global Stocks: Are thus hawkish for the most part and flat in the worst case scenario

  • Germany30by the time of print 07:32 GMT had risen 0.53% to 12,119.17 ranging between12,093.80 – 12,124.34  with more uptrends possible.
  • France40 Similarly, was up 0.53% at 5,358.08 trending from 5,344.67 – 5,358.34
  • The UK100 surged 0.56% to 7,321.26 oscillating up and down from 7,307.00 – 7,323.74
  • Italy 40 was late in joining the up trends nonetheless was seen up 0.31% ranging from 20,805.00 – 20,960.00

Commodities: The USD lost a bit of it grounds sending the DXY to 94.44 a drop of 0.08% in a tight range from 94.43 – 94.57 with the USD down investors sort to capitalize on a semi profit-taking ahead of the weekend

XAU/USD gathered momentum for up streams. Climbing up 0.54% at 1,208.04

WTI Oil after crossing the $70bbl physiological threshold deep to $68 before correcting upwards ahead of the release of various US economic indicators like the Core Retail report and the Baker Hughes Rig Count WTI Crude Oil prices are currently set in a path ranging from 68.70 – 69.08 up 0.67% at 69.05

Other Metal Commodities like Silver, Copper etc. were also bullish.

FX Market: Following the announcement of both the BoE Bank of England and ECB European Central Banks Interest rate decisions which were at large in expectations to market consensus i.e. both stood pat with forwarding guidance in view of their various policies to begin Tapering. The EUR and GBP both rallied.

  • EUR/USD was spotted between 1.1688 – 1.1720 up 0.27% at 1.1721
  • GBP/USD crossed the 1.30 threshold hold on to gains up 0.21% at 1.3134 ahead of Gov. Mark Carney speech today and the release of the BOE’s Quarterly Bulletin. If the speech does not resound well with market participants or the quarterly bulletin is dismal we could see the GBP fall into a bearish mood again.
  • USD/JPY shed 0.09% from 112.08-11.84 with lows in view down up to 111.79 or further down should the reports of the US fail to uplift the USD.

Meanwhile, as correlations and inverse correlation seem to be fairly squared the Cryptocurrencies recently acting like commodities have surged. Only 20 out of the currently 2260 tokens were down. Although optimistic for a long-term rise there is still room for abrupt swings in either direction until the regulator and operation reforms are ironed out not to mention, Mt Gox must liquefy as much of its assets in order not to upset the BTC Market trends

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