Commodities NewsFinancial NewsForex NewsNewsStock Market News

Financial Markets: Highlights of Today

Financial Markets: Highlights of Today

Main Topics in Asia

Australia Q3 GDP misses, comes in at 0.3%

Australia 10-year bond yield hits 13-month low

Trump threatens tariffs if can’t reach “real deal” with China – Reuters

Northern Irish DUP says will vote against May’s Brexit deal – Reuters

BoJ’s Wakatabe: BoJ will maintain massive stimulus to nudge up prices to 2% target

China’s CommMIn: China will push ahead with trade negotiations with US in 90 days

China Caixin/Markit Nov Services PMI jumps to 5-month high of 53.8, a big beat

Fitch affirms China at A+ Outlook Stable

UK Parliament does not need to pass a law to revoke Article 50 – Sky News

Asian stocks recoil from renewed market concerns, open red across the board

Key Focus Ahead

Markets brace for a busy Wednesday’s European calendar, with the ECB President Draghi’s speech, the main highlight. However, the second-tier final services PMI releases from the Euro area will also offer some incentives to the EUR, GBP traders ahead of the UK services PMI report due at 0930 GMT. Also, of note remains the Eurozone retail sales report that will drop in at 1000 GMT. In early Europe, the non-monetary policy meeting of the ECB will be held at 0800 GMT and the BOE FPC statement will be published at 0830 GMT.

In the NA session, the Bank of Canada (BOC) rate decision at 1500 GMT will remain the main highlight amid a lack of the first-tier reports from Canada and the US. However, not much reaction is expected on the BOC rate decision, as the Canadian central bank is expected to stand pat after last month’s 25bps rate hike. Later on, at 1900 GMT, the Fed Beige book will be released, which could offer some fresh insights on the Fed’s monetary policy path.

Besides, the following central bankers’ speeches will also remain in focus for further trading impetus.

0830 GMT: ECB President Draghi

1315 GMT: FOMC member Quarles

EUR/USD under pressure despite US yield curve inversion, has charted symmetrical triangle

On the daily chart, the currency pair has charted a symmetrical triangle with support at 1.1292 and resistance at 1.1415. A break below the support would open up downside towards the recent low of 1.1315.

GBP/USD struggling to hold 1.2700 ahead of fresh Brexit headlines

The economic calendar is a fairly light screening for the GBP, with November’s Markit Services PMI due at 09:30 GMT and forecast to clock in at 52.5, a mild uptick from the previous month’s 52.2.

BoC Monetary Policy  Preview: No December rate hikes but three more hikes to go in 2019

The Bank of Canada is widely expected to keep the overnight target rate unchanged at 1.75% on monetary policy meeting on Wednesday, December 5.

ADP employment preview: job creation expected to remain healthy

American employers are thought to have maintained their strong recruitment in November with 195,000 new positions on the books at the payroll processing giant ADP.

Rupee to drop back to 72 by end-May 2019 – Reuters poll

 

You can check  our signal results

Subscribe to our services free of charge

 SUBSCRIBE FREE

Subscribe to our premium packages if you would like to get 1000+ instruments analysis and trade signals of Chartreadreadepro.

Forex Signals

Rules To Keep In Your Mind:  Trade Safe. Money  Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.

You can contact us via Skype User Name: Chartreaderpro

 

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close

Adblock Detected

Please consider supporting us by disabling your ad blocker