Back to daily news

DAILY MARKET REPORT

Former Managing Director of the International Monetary Fund Christine Lagar delivers her first monetary policy announcements as ECB president on Thursday. Markets are not expecting any changes to monetary policy after the ECB announced fresh stimulus in September. EQUITIES Asian markets traded lower on Tuesday as investors and traders are awaiting clues about the status... DAILY MARKET REPORT
Former Managing Director of the International Monetary Fund Christine Lagar delivers her first
monetary policy announcements as ECB president on Thursday. Markets are not expecting any
changes to monetary policy after the ECB announced fresh stimulus in September.

EQUITIES
Asian markets traded lower on Tuesday as investors and traders are awaiting clues about the status of
the US-China trade war ahead of a fresh round of tariffs scheduled to take effect on Sunday.
Wall Street closed lower after three days rally. The Dow slipped 105.46 points to 27,909.60, the
NASDAQ fell 34.70 points to 8,621.83 and the S&P 500 dropped 9.95 points to 3,135.96.

OIL
Oil prices slipped on Tuesday for a second straight sessio
outlook outweighed the pros of OPEC’s agreement with associated producers at the end of last week
to deepen crude output cuts in early 2020.

CURRENCIES
The dollar and yen mostly held the safe
looming deadline for U.S. tariffs on China, the British election and upcoming Federal Reserve and
European Central Bank meetings.

GOLD
Gold prices are trading steady as markets wait to hear from the FOMC later this week, even as lack of
updates on the US-China trade war keep markets guessing about when a trade deal would be signed.

Economic Outlook

Today UK GDP monthly showed that the UK economy showed no growth in October, arriving at 0% versus 0,1% expected and - 0,4% previous  and the same time German DecZEW economic sentiment beats estimates with 10.7.

Technical Outlook

AUD/NZD: The pair holding well above the support 1.0380/1.04 and trading oversold level. If it hold steady above the support we may see a bounce to 1.0460/1.0480 level.

GOLD: Gold trading strong on Tuesday ahead of central bank meetings. The pair supported below 1460, any drop below 1460 will open 1456&1450 and on the other side the yellow metal will face immediate resistance at 1464 then 1470.

Quote of the day: Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.

Warren Buffet.

Read more

DAILY MARKET REPORT

DAILY MARKET REPORT

Wall Street ends sharply higher on Wednesday after Fed Chairman Jerome Powell signaled that interest rate hikes will slow down in the next meeting. “The time for moderating the pace of rate increases may come as soon as the December meeting.” – Powell said.

DAILY MARKET REPORT

DAILY MARKET REPORT

German consumer prices in November slowed from the prior month while annual inflation in Spain also fell more than expected. Moving ahead, investors should closely monitor the release of Eurozone inflation data.

DAILY MARKET REPORT

DAILY MARKET REPORT

Oil futures recovered from the previous session's lows after Eurasia Group reported that OPEC+ will "seriously consider" a production cut next week. However, investors remain concerned over rising Covid-19 cases in China, which could dent demand for oil as travel is restricted.

DAILY MARKET REPORT

DAILY MARKET REPORT

Today the key focus will turn to the minutes from the latest Federal Reserve meeting as the investors look for clues on future rate hikes by the central bank. During the last meeting, United States Federal Reserve officials delivered their fourth straight 75 basis-point interest rate increase.