Markets in Details: 12 December 2018

12 December, 2018

News

  • On Tuesday, UK PM Theresa May pulled Brexit from the voting in the House of Commons, aiming to seek concession from Brussels on the issue of preventing a hard border in Ireland. EC President Tusk yesterday, however, said the “backstop” issue is not open for discussion.
  • This week the ECJ ruled that the UK is at liberty to withdraw its notification to leave the bloc, and effectively end Brexit, without first gaining consent from other EU members.

The focus of attention

  • European currencies will be closely watched today given the number of political issues that are fueling global growth concerns:
  • Huawei’s detained CFO is requesting freedom due to health issues–she was recently denied bail and investors fear this could escalate the U.S.-China trade war.
  • UK will not see Brexit decided today as Theresa May will go back to Brussels to seek assurance that the UK will not be forever tied to EU customs rules–a near impossible feat as the border issue is not open for discussion according to Donald Tusk, the EC President.
  • Eurozone investor confidence declined for a fourth month suggesting economic slowdown.

Expected events

  • 9.30 GMT UK will release the Average Earnings Index, Claimant Count Change, Employment Change and Unemployment figures.
  • 10:00 GMT Germany will release the ZEW Economic Sentiment for December.
  • 13:30 GMT U.S. will release PPI data for November.
  • 15:00 GMT U.S. will release the JOLTs report for October.
  • 21:30 GMT U.S. will release the API Weekly Crude Oil Stock report.

Technical Analysis 

  • EUR USD The recent uptrend move to 1.1442 quickly failed and produced no meaningful retracement, although the pair remains above its short-term downtrend line. Expect the next level of support at 1.1350 to be tested this week.
  • Dow Jones On Monday the Dow dropped to 23881 before recovering to 24417 by the close. Early Tuesday trading is flat with no directional bias on the one-hour chart and the trend is mostly flat. The short-term view is flat to bearish.
  • GBP USD dropped sharply on Monday and was not able to find support until 1.2506. Early Tuesday trading is flat with no directional bias on the one-hour chart and the trend is mostly flat. The short-term view is flat to bearish for GBP USD.

 


Source link  
Markets in Details: 22 January 2019

IMF downgraded its global growth estimate to 3.5%, the weakest in over three years, citing rising risks given evidence of slowdown in Europe...

Markets in Details: 21 January 2019

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

Markets in Details: 17 January 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 and show their view on markets...


Markets in Details: 16 January 2019

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

Markets in Details: 14 January 2019

A key coalition partner pulled out and withdrew its support for the Greek government. PM Alexis Tsipras is expected to call a confidence vote as a result...

Markets in Details: 11 January 2019

China announced weaker than expected inflation numbers on Thursday sending European markets and U.S. stock futures lower. The lack of specifics...


Markets in Details: 10 January 2019

Car sales became the latest data to confirm China's economic slowdown after Chinese carmaker Geely reported 39 percent YoY drop in sales...

Markets in Details: 19 December 2018

German business confidence slumped below expectations and reached the lowest reading since December 2016, after the Ifo Business Climate reading showed...

Markets in Details: 13 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...


In the past 24 hours Bitcoin has lost -0.13% and reached $3601.64547968. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 1.5351% and is now at $1.1563. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -4.78% and is now at $118.194316232. 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
1easyMarketseasyMarkets91%
2FXTMFXTM87%
3HYCMHYCM86%
4FxProFxPro84%
5FIBO GroupFIBO Group83%
6OctaFXOctaFX82%
7HotForexHotForex81%
8FXCMFXCM80%
9XMXM72%
10FP MarketsFP Markets69%
  


Share: