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An Awesome Start To A Trading Week With Wall Street High.

What awesome start to a trading week, following the G-20 summit on Friday Investors and Traders sentiments are optimistically gleeful. On a truce between the US and China.

Global markets were up trending at the time of print 07:30 GMT. However, analysts believe there could be more bumps before calm is restored.

This week market participants would be paying attention to any development from the Oil industry, as well as progress in the US-China Trade renegotiations and hints of the US stance on the Fed rate hike.

US 30: Was spotted trading between 25,819.0 – 26,088.0 up 1.93% further upside is possible at the US open. US TECH and share prices of the FAANG group are likely to be Hawkish today boosting price up on Wall Street.

UK100: Climbed 2.14% to 7,129.31 and further upside to 7,146 could be the next resistance level.

Italy40: Shares also surged about 2.25% to 19,607 and could be capped at 19,680.

Germany 30: Rallied over 2% at 11,552.49 and attempting to head to 11,560 + As the Auto manufacturing industry bank their hopes on the US suspending tariffs on Aluminum and Steel.

FX Market: With Market looking at stocks. The USD fell from its recent highs

EUR/USD: The pair rose from 1.1328 – 1.138 up 0.30% before ranging between those highs and lows.

GBP/USD: The pair was also seen bullish trading at 1.2755 with its resistance level capped at 1.2826 upside movement is capped on Brexit and Industrial production.

USD/JPY: As the USD takes a break the pair is seen down 0.08% struggling around 113.48 and heading to 113.38.

Commodities:

Oil: Rose about 5% from recent lows below 50bbl as the US & China aim to reach a cordial accord. Rising from 50.93 to 53.80 before trading sideways. Upside movement is limited due to oversupply and upcoming deliberations throughout the week. Talks of Qatar leaving OPEC and Canada also cutting production will add to more volatility to drive oil prices either way.

GOLD: With USD down and uncertainties prevailing some investors took advantage in acquiring or holding onto the precious metal which was up 0.81% at 1,235.90 it could climb back up to 1,237.70 however likely to range between 1,226.60 – 1,237.60

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https://www.cnbc.com/2018/12/03/qatar-to-withdraw-from-opec-as-of-january-2019.html

https://www.bloomberg.com/news/articles/2018-12-02/trade-truce-brings-relief-as-aussie-yuan-gain-markets-wrap?srnd=premium-middle-east

Global Markets Expirence Withdrawal Symptoms

The Markets are experiencing withdrawal symptoms as members of the G-20 gather at the summit, investors are wary of the extent to which issues could be addressed.

All global stocks were bearish by 07:45 GMT. With volatility high amid profit-taking.

Germany 30: Is bearish at 11,240.5 down 71 pips with support levels set at 11,234.5 drag by Deutsche Banks scandal amid uncertainties as the Auto industry and mining sector weighs on uptrends.
UK100: plummeted 0.60% from 7,041.22 – 6,9970.0 falling below the 7 k psychological levels and heading to 6,995. abrupt swings are expected.
Italy40: sheds 0.40% from 19,235.00 to 19,087.50 looking towards the support levels at 19,065.00.
US30: Erased almost all gains from the previous session, down 0.26% at 25,326. with further downside possible to 25,309.0

FX Market: Was seen contracting as Traders hold on for clarity.

EUR/USD: The pair was down trotting 0.19%, trading sideways around 1.1371 downward trends may be imminent in case EU CPI and economic events fail to render support.
GBP/USD: Swing in and out of losses following a better than expected Nationwide HPI report. Oscillating between 1.2782 -1.2772.
USD/JPY: Trades flat in a sideways route between 113.47 / 113.49 with support levels at 113.34

Commodities:

Oil: continues to remain politically vulnerable to comments and perhaps developments from Oil producers ahead of today’s Baker Hughes Rig Count and deliberations from the G- 20 summit WTI is Dropping from 51.79 to 50.90 further downside is possible
GOLD: Investors have also choosing to stand pat avoiding any risk even with the safe heavens. At 1,229.00 and heading to support levels of 1,226.80.

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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

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

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