The Markets Were Seen Cringing Towards The End Of The Week.

By Content-mgr - on April 18, 2019

The markets were seen cringing towards the end of the week. Any downtrend may warrant preparation for some uptrends.

The IPO’s, M&A’s and Q1 Earnings Reports have kept market participants engaged throughout the week. Spread-betters trading on “asset momentum”, were said to have faired well.

Today the financial calendar is loaded with a deluge of key economic indicators such as the Australian Unemployment Rate, and Employment Change, coupled with various PMI’s. UK|& US Core Retail Sales, which will be driving Markets ahead of the upcoming Easter holidays. It should not come as a surprise to witness abrupt swings up or down as more and more trader reduce or close their bets on open position. Liquidly becomes tighter.

Oil dynamics continue to affect the price curve.   

Global Stocks.

Thursday global stocks were observed in distress in early EU market open hours.   

UK100: Has not been able to recover from recent gravitational pulls. Trading down in a sideways range similar to Wednesday’s range from 7,422.00 to 7,381.80 down 0.08% at the time of print. The Drop was caused by dismal results from some of the Banks and pharmaceutical companies.

Germany 30: The asset was caught tending between 12,099.28 – 12,240.77. Upside movements beyond this range maybe capped for the day. Although maybe the one of the major gainer of the day.

Italy 40: Was also seen in cringing from highs of 21,495.00 to lows of 21,257.00 further downsides maybe visible be the end of  

USA30: with over 54 companies, including Snap-On Inc. and American Express Co. will be announcing their Q1 earnings report and others preparing for Q2 it is plausible that the Dow 30 could surprise to the upside or downside depending on the result from the various companies. Trading between 26,312.5 – 26,454.0 with bullish undertones.

Commodities:

Oil: Crude oil inventories report on Wednesday revealed a drop nearly 1.4 million barrels however, Gasoline Inventories disappointed instead of the expected draw of 2.133 million, only 1.174 million was reported which weighed on oil prices for the later part of yesterday. Today it is expected to recoup some of the losses to ranging between 63.45 – 64.30 or beyond amid high volatility.

Gold: Prices remain under pressure trading between 1,273.05 – 1,279.65. perhaps the 1,400 threshold foretold may come in later.  

FX Market:

GBP/USD: The oscillates between 1.2994 – 1.3054. Upside is seen capped Brexit weighs.  

EUR/USD: The pair were observed seriously challenged trading down from 1.1305 to 1.1240.

USD/JPY: The USD was unable to hold the forte for long the Yen was defiant. Trading from 112.07 and heading to 111.97   

The Cryptocurrencies.

We leave the Cryptocurrencies to ponder on for the weekend. However, it has been pointed out that Bitcoin’s going mainstream may be linked to the acquisition of the New York Crypto Licence.   

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