Global stocks remain under pressure driven by surging bond yields and rising inflation pressures. Wall Street closed sharply lower on Tuesday; technology companies led a broad slide in stocks.
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.
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 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.
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 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.
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.
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.
Gold price trades below the key support area of $1812. Technically the overall momentum remains mixed for the metal after the bulls failed to extend the rally.
The US retail sales report for December is the highlight of today’s economic calendar. The commerce department will release the retail sales data at 13:30 GMT.
Airline stock Delta Airlines (NYSE: DAL) is scheduled to announce its fourth-quarter earnings report today before the market open. Delta is expected to post quarterly earnings of $0.12 per share and revenues are expected to be $9.20 billion.