Two Central Banks Interest Rate Decision Amid Trade TalksBy Kenneth@Xtrade - on September 13, 2018
Markets shrug off trade war jitters, throwing some bright light on global stocks. Amid the report from both the ECB and BOE on their interest rate decisions. although both are likely to stand pat volatility is highly expected during the release.
Reports claim the US and China have agreed to further Trade Talks which the market has taken as positive strides to avert or intensive the ongoing saga. China promises to retaliate should the US press on. Amid Hurricane Florence eminent arrival to the coast of South Carolina likely disrupting Wall Street for any amount of time has not been ruled out.
Meanwhile, Asian Shares closed bullish while EU Shares pursue a similar path.
- Germany30Rose to 12,061.00 by the time of print with lows set at 12,015.24 and current resistance at 12,068.19 Analysts forecast a possible climb of 0.50% or more to 12,102.02 or beyond before any corrections.
- France40 Also surged in tandem up 0.24% and oscillating 5,327.80 – 5,353.94.
- The UK100 struggles in and out of gains trending between 7,293.12 – 7,319.45
- Italy40 and the UK 100 seem to be experiencing similar mood swings jumping in and out of loses from 20,883.50 – 21,048.50
Commodities: As the USD firmed, commodity prices and holders of the various commodity assets find prices exuberantly high. Thus some SELLOFF is experienced
As with Oil. On Wednesday Oil prices rose as the EIA reported a drop of nearly 4 million barrels in Crude Oil Inventories and warnings of the approaching Hurricane. Lifted WTI Oil prices to $70.37bbl before giving up gains to 69.33 by the time of print, it was down 1.44% trading in a range of 69.06-70.28
XAU/USD was indecisive trading up and down between 1,203.45-1207.31, Silver and Copper were also indecisive.
The Cryptocurrencies are demonstration signs of a short rival with almost 85% of all tokens with a bullish undertone.
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