The market seeks solace With The UK’s Supreme Court Decision. Oil reports in The PipelinesBy Kenneth@Xtrade - on September 24, 2019
The Market seeks solace with the UK’s Supreme Court Decision. Oil reports in the pipelines. With traders edgy on Brexit. It is plausible that the UK’s Supreme Court decision is sort after for solace. In the likelihood that the court Courts decided to rule against PM Boris Johnson in his prorogation of parliament. Some confidence could be restored to UK investors. Evidently the GBP was observed hawkish. Meanwhile, others look for some clarity from the oil report due later today.Global Stocks: Are once again fronting albeit with mixed undertone as fundamental analysis from data in those regions weighs differently on the contracts as could be deduced herein.
- WALLSTREET: After Monday’s dip Wall Street expected to recover from the previous lows. How high it rallies today may depend of some earning reports from the like of AutoZone Inc. Nike Inc. General Mills Inc. and some 31 or so other companies reporting. The outcome of a list of market events suggests the USD maybe challenged today.
- THE EU MARKET: Was swinging sideways. However, downside pull looms.
- ASIAN MARKET: Stocks were overly bullish in the Asian market following comments from the BOJ Bank of Japan. The Australian market was view a tad capricious.
- USD/JPY: Was caught on shaky grounds the USD is expected to succumb to the JPY as Mr, Haruhiko Kuroda Governor of the BOJ delivers his statement with some forward guidance. Trading is seen confined to the previous close at 107.54 perhaps to range between 107.24 – 107.80
- EUR/USD: Capricious in its outlook. However, from the day’s open of 1.0991 uptrends are expected with a possible trading range between 1.0984 – 1.1015. our technical analysts suggest breakouts to 1.10260 maybe plausible.
- GBP/USD: Driven in vicariously by the Brexit travailing’s The GBP was caught uptrends against the USD. With remorse that The UK supreme court may rule against Boris Johnson earlier order to shut down parliament. Closing the previous session at 1.2429 the expected range was noted between highs of 1.2503 lows of 1.2415. However, should the current resistance be breached highs at 1.25100 may be recorded.
- · AUD/USD: The Commodity heavy AUD gained flight flowing RBA’s Governor Lowe’s speech and perhaps the recent climb in Gold and silver prices. Ranging between 0.6765 – 0.6806. Further upside to 0.68128 maybe doable.
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