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DAILY MARKET REPORT

Bank of England Rate Decision at 12:00 GMT Today, one of the last big central bank meetings this year. BoE is expected to leave interest rates unchanged. EQUITIES China’s benchmark equity market gauge ended flat on Thursday as investors awaited further details on the ‘phase one’ trade deal between Washington and Beijing. But the Australian... DAILY MARKET REPORT
Bank of England Rate Decision at 12:00 GMT Today, one of the last big central bank meetings this year. BoE is expected to leave interest rates unchanged.

 

EQUITIES

China’s benchmark equity market gauge ended flat on Thursday as investors awaited further details on the ‘phase one’ trade deal between Washington and Beijing. But the Australian stock market is modestly higher on Thursday after strong employment data. On Wednesday, Facebook Inc (FB.O) shares rose 2.1%, providing the biggest boost to the S&P 500, as Deutsche Bank raised its price target on the stock.

OIL


Oil prices remained atop three-month peaks on Thursday, extending a robust streak that began a week ago, as thawing trade relations between the United States and China supported the global market.

CURRENCIES


The Pound trading below 1.31 after UK retail sales unexpectedly dropped -0.6% in Nov. vs. -0.1% expected. The dollar was down 0.1%. Trump’s impeachment had limited impact on currency markets. The Australian dollar was up 0.4%, still boosted by a surprise fall in unemployment, while the Swedish crown edged higher when the Riksbank became the first central bank to exit negative rates territory.

GOLD


Gold prices edged higher on Thursday after the U.S. House of Representatives voted to impeach President Donald Trump, stoking fears of political uncertainty in the world's largest economy.

Economic Outlook

Australia unemployment rate falls 0.1% to 5.2%, with 39,900 new jobs created during November. In meanwhile, New Zealand’s GDP growth beat expectations in the third quarter. The economy expanded 0.7% quarter-on-quarter, faster than the 0.6% economists had expected.  Yesterday, The CAD CPI figures came in line with expectations which provided a modest lift to the Canadian dollar.

All eyes will turn to the Bank of England’s monetary policy decision, due at 1200 GMT.

Investors have largely shrugged off a vote by the U.S. House of Representatives to impeach President Donald Trump as a Republican-controlled Senate is widely expected not to vote to remove Trump from office.

Technical Outlook

NZD/USD:  The pair trading positive today after better – than- expected GDP data. Kiwi bounced to 0.6615 after the data then retraced back to 0.6580. If the pair still hold below 0.6620 level the bearish movement will continue to 0.6520.

GOLD:  Gold will have a busy day today. The yellow metal recovered the yesterday loss after the U.S. House of Representatives to impeach President Donald Trump as a Republican-controlled Senate is widely expected not to vote to remove Trump from office. If any breakout below $1470 will open $1464 and $1456, on the other side above $1480 will print $1487 and $1493.

Quote of the day: never stop investing, never stop improving, and never stop doing something new- Bob Parsons  

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DAILY MARKET REPORT

DAILY MARKET REPORT

Federal Open Market Committee, a committee within the Federal Reserve System (the Fed), will release June’s FOMC meeting minutes later today. In the June meeting, FOMC raised interest rates by 75 bps, the biggest increase in three decades.

DAILY MARKET REPORT

DAILY MARKET REPORT

The Reserve Bank of Australia increased its benchmark interest rate from 0.5% to 1.35% on Tuesday and It is the third consecutive month in which the central bank has hiked rates.

DAILY MARKET REPORT

DAILY MARKET REPORT

Precious metals like gold and silver prices extended declines in early trading on Friday. The strong bearish sentiment fueled by fed Chairman Jerome Powell's hawkish stance on Wednesday encouraged dollar bulls and pressured metal prices lower.

DAILY MARKET REPORT

DAILY MARKET REPORT

Global markets remain volatile following the hawkish comments from the central bank chiefs during the European Central Bank's (ECB) annual forum in Portugal. The central bankers have warned that the era of low-interest rates and moderate inflation has come to an end.