Market News – 11 Dec 2019

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By: Stuart Cowell

Good morning – Trump to have the final say on Tariff increase or no tariff increase timing obviously key. Final MRP opinion poll cuts TORY lead to 28 seats from 67 seats two weeks ago. Hung Parliament unlikely, but cannot be ruled out. The final day of campaigning. – GBP loses a whole point.


USD – pivots at 97.50
EUR – again rejects 1.1100 – pp 1.1081 –
JPY – capped by R1 & 200MA at 108.80 – pp 108.65
GBP – down from a break of 1.32 – fell a whole 100 pips to 1.3106, has recovered to 1.3136 – PP now 1.3166 – S1 1.3118
AUD – back to PP at 0.6815. NZD also had profit-takers as Government announced increased spending and – fell from R1 at 0.6565 to S1 0.6525

Gold – continues to meander too – capped by 200MA at 1466, pp 1464 s1 1460 support.

USOIL – fell below pp at $59.00 from $59.50 following private inventories – Trades at 58.90 (official inventories later)

Equities – flat ahead of the FED – ticked down 3pts at close – 3132 – FUTS at 3135

TODAY – FED tops the shop Rate Announcement (no change priced in) at 19:00 GMT with Press conference 45 mins later. All about the forecasts for 2020 and beyond. More Bullish than expected after NFP on Friday ??? Earlier there is US CPI (Headline expected to dip to 0.2% with core remaining at 0.2%) and the weekly Oil inventories.


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