Markets in Details: 27 November 2018

27 November, 2018

News

  • U.S. President Donald Trump, in an interview, has said he would increase the tariff rates on $200 billion Chinese imports to 25 percent and also include goods that are not yet subject to duties should talks break down with China.
  • ECB President insisted the central bank will stop the €2.6 trillion stimulus program at the end of the year, stating the economic slowdown is a return to normal levels of growth.

The focus of attention

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

Expected events

  • 15:00 GMT U.S. will release the CB Consumer Confidence for November.
  • 21:30 GMT U.S. will release API Crude Oil Stock Change report.

Technical Analysis

  • GBP USD dropped past the 1.2797 support on Tuesday after trading sideways earlier in the day. The ten-minute view suggests bearishness is in play today.
  • EUR AUD hit intraday high at 1.5704 before moving on a downtrend on Tuesday. The next level of support is 1.5633 and the ten-minute view suggests this level will likely be tested.
  • AUD USD started the day by testing 0.7213 established on Monday and started to move upwards since. The pair is consolidating on the ten-minute view and retracement analysis suggests bullishness is still in play.
  • USD JPY started on a downtrend on Tuesday, quickly forming support at the 113.41 level. Expect the pair to move higher if the resistance at 113.54 is overcome intraday.
  • EUR USD is trading flat close to the support at 1.1324 after hitting resistance at 1.1383 on Monday. Intraday, expect the pair to continue sideways trading unless the 1.1343 resistance can  be overcome.


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