Markets in Details: 03 December 2018

3 December, 2018


  • Global financial markets are positive given the U.S. and China have agreed to take a 90-day break from further escalating their ongoing trade dispute, preventing China from facing a tariff increase from 10 to 25 percent in January. A permanent resolution is still a work in progress.

The focus of attention

  • Markets are anticipating to receive manufacturing PMI numbers from the eurozone, UK and U.S. this week.
  • UK’s attorney general is scheduled to brief the House of Commons this week on his legal advice on the Brexit plans, ahead of the important 11 December vote in parliament.

Expected events

  • 01:45 GMT China will release the November Caixin Manufacturing PMI.
  • 8:50 GMT France will release the November Manufacturing PMI.
  • 8:55 GMT Germany will release the November Manufacturing PMI.
  • 9:00 GMT EU will release the November Manufacturing PMI.
  • 9:30 GMT UK will release the November Manufacturing PMI.
  • 15:00 GMT U.S. will release the November ISM Manufacturing PMI.

Technical Analysis 

  • EUR USD fell sharply and temporarily dipped below the breakout level at 1.1326 on Friday. The pair is currently facing resistance at 1.1378, keeping the upward move limited for now.
  • GBP USD fell sharply on Monday and is expected to breach the support at 1.2725 intraday. Expect the pair to remain weak until a new level of support is found in the short-term.
  • Dow Jones As expected, the counter-trend bounce is seeing continuation as the Dow heads back to above 26000 on Monday. Whilst momentum is positive, RSI is well in overbought territory suggesting some pullback is to be expected this week.

Source link  
Markets in Details: 21 March 2019

President Trump announced that tariffs on China would remain for the time it will take to make changes that the U.S. demands from the world...

Markets in Details: 19 March 2019

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: 14 March 2019

U.K. Parliament rejected the option of a no-deal Brexit on Wednesday sending Sterling short positions to its highest levels since December, a sign...

Markets in Details: 13 March 2019

The EU suffers more industrial pain as German carmaker VW announced plans to axe 7,000 jobs to streamline operations. German carmakers...

Markets in Details: 12 March 2019

UK PM Theresa May has secured legally binding changes to her Brexit deal after late talks with EU on Monday. She did not secure the outright...

Markets in Details: 11 March 2019

President Trump is expected to release his budget blueprint which is expected to propose a budget that would not balance for 15 years and...

Markets in Details: 07 March 2019

Overnight the U.S. reported higher trade deficit sending the stock market in the red. Despite President Trump's protectionist trade moves...

Markets in Details: 06 March 2019

The view of the British pound remains bearish as GPB/USD continued sliding to 1.3155 by close on Tuesday. The pair met with its support at 1.3113...

Markets in Details: 05 March 2019

On Tuesday, markets are paying close attention to services PMI in China, UK, the EU, and the U.S. They will also monitor the retail sales in the...

In the past 24 hours Bitcoin has gained 0.36% and reached $3976.63933103. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.4259% and is now at $1.1296. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -3.21% and is now at $135.310450988. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2019

# Broker Review
5FIBO GroupFIBO Group85%