Markets in Details: 28 November 2018

28 November, 2018


  • Home prices in the U.S. showed the slowest gains in two years, indicating broad slowdown in the housing market due to high mortgage rates and property prices.
  • Donald Trump was cited as saying the UK may not be able to strike a trade deal with the U.S. if Theresa May’s Brexit plan is approved by parliament as the UK would remain in the customs union with the EU.

The focus of attention

  • Markets are keenly awaiting stress test results from UK banks that is scheduled to be released with the BOE’s assessment of economic and financial stability effects of Brexit today.

Expected events

  • 07:00 GMT Germany will release the Gfk German Consumer Climate for December.
  • 13:30 GMT U.S. will release the revised GDP for Q3.
  • 15:00 GMT U.S. will release New Home Sales for October.
  • 15:30 GMT U.S. will release the latest Crude Oil Inventories.
  • 17:00 GMT Chairman of the U.S. Federal Reserve Bank is scheduled to speak.

Technical Analysis

  • EUR USD formed two lower lows since Tuesday setting an overall negative pace for the week. It found support at 1.1277 but has remained flat so far today. Expect bearishness to linger unless resistance at 1.1336 is overcome.
  • EUR AUD dropped to 1.5604 before recovering to the 1.5671 level on Tuesday. Continued bearishness forced the pair to retest the 1.5604 support line. Expect bearishness is still in play unless the 1.5671 resistance can be overcome.
  • AUD USD dropped to 0.7199 on Tuesday and can be seen heading back to retest the resistance  at 0.7250. 
  • USD JPY was in a modest uptrend on Tuesday but has remained largely flat today. The pair could overcome resistance at 113.84 intraday which could signal a bullish continuation.
  • GBP USD slumped on Tuesday and has remained flat near the 1.2727 support line on Wednesday. Traders are clearly staying on the sidelines given the lack of directional signals. Expect a breakout move if it can move past 1.2776.

Source link  
Markets in Details: 02 July 2019

After an 80-minute discussion behind closed doors on Saturday, China released a statement saying that a truce has been reached which would...

Markets in Details: 11 April 2019

U.S. equities closed neutral to slightly positive on Wednesday after central banks showed support to their economies by keeping both...

Markets in Details: 18 March 2019

Markets will be closely watching developments from the U.K. which is exactly 11 days away from Brexit. The lack of certainty means businesses are completely...

Markets in Details: 25 January 2019

The ECB decided to keep rates unchanged and said it expects rates to stay near current levels at least until the summer. The euro fell against...

Markets in Details: 10 December 2018

Would you like to learn more about economic calendar and the following events? Our analysts will give you the fundamental picture of present situation...

Markets in Details: 20 November 2018

The U.S. is taking the trade war with China to a new level when President Trump stated he is considering imposing export controls on high-technology exports...

Markets in Details: 19 November 2018

The EU is working on legislation to allow screening of foreign direct investments as a measure to address security concerns related to investments by China...

Markets in Details: 08 November 2018

Slowdown in the UK property market and uncertainty surrounding UK's exit from the EU hit the housing market hard in October. The RICS House Price Balance...

Markets in Details: 07 November 2018

Europe might ignore U.S. sanctions on Iran after France's Economy Minister moves forward with plans to defy oil sanctions and to improve the international...


Share it on:   or