Daily Market Review 4 Dec 2019


This post is also available in: فارسی (Persian)


By: Stuart Cowell 

Good morning _ Trade Deal stalled, Tariffs due to 15th. December downer continues –  Risk OFF – JPY, Gold, CHF and Government Bonds Up. – Equities down – USD down – but off lows.

Australian GDP missed, Chinese Services PMIs best (significantly)
USD index – plunged to S1 at 97.55, – PP 97.70 – consolidating at lows.
EUR – trades at pp 1.1075
JPY – moved to support at 108.50 –  S! now 108.30 & PP 108.80
GBP breached but couldn’t hold 1.3000. PP 1.2980, R1 1.3025 – trades 1.2990
AUD – missed GDP and trade woes pulled AUD down to 0.6825 from 6860 yesterday. – PP 0.6840 – S1 0.6815.
NZD – holds gains at pp – 0.6515 – R1 0.6535 , S1 0.6495
Equities – closed down – 0.66% – 3093 – below key 3100 but above technical support at 3090. FUTS trade at 3093. Nikkei225  just closed down 1%
GOLD – rallied over and held 1480 from sub-1460 yesterday – PP now 1474 – R1 1486 (key FIB level)
OIL  – holds up on expectations of 400K/barrels/day production cuts being agreed at OPEC meeting this week. Trades at R1 at $56.50. R2 56.95

TODAY – Services PMIs from EUR & UK, ADP jobs and Services PMI from the US,  the BOC Rate Decision (no change expected but outlook to be tweaked?) and Crude Oil Inventories.

Risk Warning: Trading-Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investment objectives and level of experience, before trading, and if necessary, seek independent advice.


Please enter your comment!
Please enter your name here