PULSE. Issue th Dec 2018

Transcription

1 xdirect MARKET PULSE \ M O R N I N G - R E P O R T

2 e USD/CHF CMP USD/CHF Resistance: trading at , % up since Thursday. The Swiss Franc The euro seemed pushed to be higher trading against slightly the dollar stronger Friday, against but the of USD an earlthe over mixed greenback. global EUR/USD cues like was aggravating up 0.33% to trade problems late Friday, between holding U.S & above Canada the 14-month & an impending trough of OPEC decision reached onnd over Tuesday. cutting down The pair of Oil was output likely to levels. find support Earlier, at the 1.29 suspicious level and view resistance regarding at U.S-China around trade Expec resolution ations that within the Federal 90-days Reserve & falling is growing U.S Treasury closer bond to raising yields interes cushioned rates the continued other currencies. to support the The dollar, Swiss with nations the European CPI rate Central fell by 0.3% Bank weaker likely to than stick to the its previous looser monetary rise of 0.2% policy turning stance. negative A study by for the CHF. San As Francisco seen in Fed the published chart, the on pair Monday is trading indicated below that the central major bank support officials level see of rates short rising term sooner Moving than Averages markets indicating expect. the positive trading in CHF against the USD. Resistance Pivot Support Expected Trend Neutral GBP/JPY CMP GBP/JPY is trading at , 0.29% up since Thursday. The gains can be noticed in GBP/JPY pair as against the mixed greenback as market remains cautious ahead of the FOMC meeting planned to be held on December with last rate hike & least chances of hikes in the future course of time. In Japan, the Household Spending fell by 0.3% weaker than the expectation of a rise by 1.2% whereas Average Cash earnings increased by 1.5% higher than the previous figure 0.8%. The result of U.K Consumer Inflation expectations data will remain crucial for the day. As seen in the chart, the pair is hovering near double bottom indicating the possibility of reversal on the daily basis. Resistance Pivot Support Expected Trend Bullish US30 CMP US30 is trading at making a day-high of & day low of The U.S shares slid down as the market waits for the outcome of OPEC meeting focusing on cut-down of Oil output level & forthcoming Fed meeting with an expectation of last rate hike on December Besides this, the traders & investors are suspicious whether U.S & China will be able come out with the trade resolution within 90 days as said in G20 summit which remained negative factor for an index US30. The trend widely depends upon the result of Non-farm Payroll data due to be released today. As seen in the chart, the US30 is hovering below the Moving Averages & hence, slight selling may be noticed for the day. Resistance Pivot Support Expected Trend Bearish

3 0 t] CHNComp CMP CHNComp is trading at 10479, 0.35% down since Thursday. The Chinese shares turned weaker since last two trading sessions after the news spurred in that Chinese CFO at Huawei arrested in Canada for violating the sanctions against Iran levied by U.S. Earlier, the shares rallied following the major development announced in G20 summit as the U.S Trump said that he may not impose additional tariffs of 25% over existing tariffs of 10% which was suppose to be levy from January 01. The Caixin services PMI data increased to 53.8 as compared to 50.8 in the previous month & the Caixin Manufacturing PMI rose to 50.2 almost same as the previous figure of 50.1.The cautious trading may be suggested for the day as CHNComp is trading near the lower trend-line of channel pattern. Resistance Pivot Support Expected trend Neutral WTI Oil CMP- $52.30 WTI oil is trading at $51.26, 0.11% down since Thursday. The downward momentum continued to be seen in the Oil prices as OPEC postponed the decision over cut-down of oil output levels waiting for the Russia s support towards the cut-down. This overshadowed the positive effect of Energy Information Administration (EIA) report which showed a drop-down in Oil inventory level by 7.3 million barrels per day as against the expected fall of 1.3 million barrels per day. Earlier, the price rallied after Saudi Arabia & Russia agreed to cut-down its oil output levels in order to stabilize the markets. The U.S is to issue its Baker Hughes report today which will remain in focus. Slight selling may be noticed for the day in WTI Oil. Resistance $53.29-$54.88 Pivot $51.69 Support- $50.10-$48.50 Expected trend Bearish GOLD CMP- $ Gold is trading at $ , 0.11% up since Thursday. An upward momentum can be observed in Gold prices post outcome of weaker U.S ADP Employment Change & Jobs data on Thursday. The Huawei s CFO, Meng Wanzhou, arrested for breaching the Iran sanctions as levied by U.S. which intensified the tensions between U.S & Canada. The fear looms in the market over U.S- China trade agreement & falling U.S bond yields which makes the safe haven instrument stronger. An upcoming event of U.S Non-farm Payroll data will remain vital for Gold. As seen in the chart, the Gold is trading above the major resistance level & hence, buying on lower levels may be recommended for the day. Resistance $ $ Pivot- $ Support $ $ Expected Trend Bullish

4 0 GLOBAL ECONOMIC CALENDAR DATE TIME CURREN CY DATA ACTU AL FORECAST PREVIOUS DETAILS IMPACT FRI DEC AM AUD AIG Construction Index AM USD Fed Chair Powell Speaks AM JPY Average Cash Earnings y/y 1.5% 1.0% 0.8% PM EUR German Industrial Production m/m - 0.3% 0.2% PM EUR French Industrial Production m/m - 0.8% -1.8% - - EUR French Trade Balance B -5.7B 1.30PM CHF Foreign Currency Reserves B 2.00PM GBP Halifax HPI m/m - 0.3% 0.7% 2.30PM EUR Italian Retail Sales m/m -0.2% -0.8% ALL DAY ALL OPEC Meetings PM GBP Consumer Inflation Expectations % 3.30PM EUR Final Employment Change q/q - 0.2% 0.2% EUR Revised GDP q/q - 0.2% PM CAD Employment Change 10.5K 11.2K CAD Unemployment Rate 5.8% 5.8% USD Average Hourly Earnings m/m - 0.3% 0.2% USD Non-Farm Employment Change 198K 250K USD Unemployment Rate - 3.7% 3.7% 8.30PM USD Prelim UoM Consumer Sentiment USD Final Wholesale Inventories m/m 0.7% 0.7% 9.00PM USD Natural Gas Storage - -63B -59B 10.30PM USD FOMC Member Brainard Speaks

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