Markets in Details: 19 March 2019

19 March, 2019

News

  • Speaker of the U.K. House of Commons has ruled that Theresa May cannot bring her Brexit plan to a vote without substantial changes to it. This is a setback given that Mrs. May had expected to bring it back to parliament voting as early as this week.

The focus of attention

  • Whilst the world’s central banks are trying to stabilize markets and provide stimulus to support economic growth by mostly issuing dovish assessments, crude oil continues to rally with West Texas crude reaching $59 during early Tuesday trading as OPEC and allies postponed the decision to continue or stop production cuts until June this year.

Expected events. All times GMT.

  • 09:30 UK will release their employment numbers.
  • 10:00 Germany will release the ZEW Economic Sentiment reading.
  • 14:00 U.S. will release January Factory Orders.

Technical Analysis

  • EUR/USD could retest the trendline resistance of 1.1358 on Tuesday producing a breakout or resume its downward move which started in January. The major trend remains negative and momentum support has dropped from 40% to 30%  in early March.

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