|Day's range||12,646.28 - 12,787.35|
|52-week range||10,279.20 - 12,814.49|
It’s another big week for the global financial markets, Corporate earnings, Brexit, trade and economic data in Focus. It’s also Draghi’s last media show…
Stocks rise on the back of a new Brexit deal but the highs were not held, Parliament and the EU still need to accept the arrangement to stave off a hard-Brexit.
Equities rallied on the news as well as the British Pound, which jumped more than 1%. At the same time, investors dumped their hedge protection, leading to weakness in the Japanese Yen, Gold and U.S. Treasury bonds. The U.S. Dollar is also getting crushed against a basket of currencies.
Brexit will be the key driver on the day, with no material stats due out of the Eurozone to influence. U.S stats will also influence later in the day.
Brexit remains a key driver on the day as the EU Summit rapidly approaches. Eurozone trade data, U.S retail sales, and earnings will also influence.
It’s a busy day ahead for the majors, with economic data, geopolitics and, corporate earnings in focus. Is a Boris Johnson magic act on the cards?
News, again, drives the US stock market and major indexes higher as optimism of a US/China trade agreement floods the news wires. As we’ve been suggesting, the global markets continue to be news-driven and are seeking any positive news related to easing trade tensions and capital markets. We believe any US/China trade deal would be received as very positive news by the global capital markets – yet we understand the process of achieving the components of the “deal” would likely still be 6 to 24 months away.
Investors took no chances upon hearing the news. Besides driving stocks lower and erasing some of Friday’s gains, hedgers drove December Treasury Notes 0.46% higher. December Comex gold futures rose 0.73% and the Japanese Yen jumped 0.24% higher. These protection moves are likely to increase if investors continue to turn sour on the deal.
EUR/USD made a significant bullish technical break after crossing above the 1.10 handle last week and is holding above the important technical area at the start of the week.
It is a big week ahead, with corporate earnings, trade talks, Brexit and economic data in focus. There’s also the IFM meetings and the EU Summit.
Global stocks rip higher following positive news about trade talks. But there is still no deal on the table.
It’s a big day ahead on the geopolitical front. Progress on Brexit and U.S – China trade talks will be needed to support the majors.
Global markets are mixed following a round of wildly disparate reports regarding the status of trade talks.
While we can expect German trade figures to influence, geopolitical risk remains the key driver. Pessimism weighed early in the day…
While the futures point to a positive open, rising tension between the U.S and China on trade will test the markets, with a lack of stats to distract…