xdirect MARKET PULSE \ M O R N I N G - R E P O R T 07.12.2018
e USD/CHF CMP 0.99239 USD/CHF Resistance: trading at 1.3005 0.99239, - 1.3055 0.31% 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 1.2964 problems late Friday, between holding U.S & above Canada the 14-month & an impending trough of 1.2858 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 1.3015. 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 0.99791-1.00311 Pivot 0.99359 Support 0.98839-0.98407 Expected Trend Neutral GBP/JPY CMP- 144.058 GBP/JPY is trading at 144.058, 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 18-19 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 144.363-144.712 Pivot 143.799 Support 143.454-142.886 Expected Trend Bullish US30 CMP- 24873 US30 is trading at 24873 making a day-high of 24978 & day low of 24811. 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 18-19. 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 25183-25441 Pivot 24719 Support 24461-23997 Expected Trend Bearish
0 t] CHNComp CMP- 10479 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 10529-10582 Pivot 10475 Support- 10422-10368 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- $1239.95 Gold is trading at $1239.95, 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 $1242.46-$1248.75 Pivot- $1238.36 Support $1233.27-$1229.97 Expected Trend Bullish
0 GLOBAL ECONOMIC CALENDAR DATE TIME CURREN CY DATA ACTU AL FORECAST PREVIOUS DETAILS IMPACT FRI DEC 07 3.00AM AUD AIG Construction Index 44.5-46.4 - - 5.15AM USD Fed Chair Powell Speaks - - - - - 5.30AM JPY Average Cash Earnings y/y 1.5% 1.0% 0.8% - - 12.30PM EUR German Industrial Production m/m - 0.3% 0.2% - - 1.15PM EUR French Industrial Production m/m - 0.8% -1.8% - - EUR French Trade Balance - -5.9B -5.7B 1.30PM CHF Foreign Currency Reserves - - 753B 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 - - - 3.00PM GBP Consumer Inflation Expectations - - 3.0% 3.30PM EUR Final Employment Change q/q - 0.2% 0.2% EUR Revised GDP q/q - 0.2% 0.25 7.00PM 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 - 97.0 97.5 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
%% Contact us for any questions: Email: support@xdirectmarkets.com Follow us on: Everyday market analysis videos Essential links: Trading systems presentation - Learn and develop with us. xdirect Markets will provide you with all the help you need - free seminars, webinars and learning materials. Global Market Analysis - Use analysis of our professionals and be up to date. DISCLAIMER: The content of this page has been prepared with care and diligence and with the knowledge of the author and are prepared for informative purpose only. The content of this page does not constitute investment advice. xdirect Markets does not take responsibility for investment decisions and for losses made under the influence of the information published on this website. The Client should always base his investment decisions on his own judgment. You should understand that these instruments are highly related with huge risk, and incase look for an independent advice if you have any doubts.