Markets in Details: 30 November 2018

30 November, 2018

News

The G20 meeting begins on Friday where development on the U.S.-China trade war as well as fresh outlook on crude oil production are expected from majors like Saudi Arabia.


The focus of attention

  • Markets await several key indicators on Friday such as China’s PMI numbers, housing price reading from the UK, retail sales from Germany, and eurozone CPI.

Expected events

  • 01:00 GMT China will release the November Manufacturing and Non-manufacturing PMI.
  • 07:00 GMT UK will release the November Nationwide HPI. Germany will release October Retail Sales figures.
  • 10:00 GMT EU will release November CPI and October Unemployment Rate.
  • 14:45 GMT U.S. will release the Chicago PMI for November.
  • 18:00 GMT U.S. will release the latest Baker Hughes Oil Rig Count.

Technical Analysis 

  • EUR USD continues to hold above the breakout support level at 1.1326, indicating the trend remains bullish for the pair.
  • GBP USD broke the near-term support at 1.2820 on Thursday, pulling it back to the downtrend line and now hovers near the low set in October. Expect further weakness or sideways trading unless the resistance at 1.2850 can be overcome.
  • Dow Jones After a strong counter-trend bounce early in the week, the Dow is consolidating just above the 50 percent retracement level. Expect the rally to continue if the retracement holds.


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