Important upcoming events (GMT):
07:00 EUR 🇩🇪 [!!] Ge Industrial Production
13:30 CAD 🇨🇦 [!!!] Ca Employment report
13:30 USD 🇺🇸 [!!!] US Employment report
15:00 USD 🇺🇸 [!!] US Consumer Sentiment
Detailed economic calendar
07:00 EUR 🇩🇪 [!!] Ge Industrial Production
13:30 CAD 🇨🇦 [!!!] Ca Employment report
13:30 USD 🇺🇸 [!!!] US Employment report
15:00 USD 🇺🇸 [!!] US Consumer Sentiment
Detailed economic calendar
Weak NFP data is the problem for USD or for the rest of the world?
Today is the day of the release of the US employment data – an influential macroeconomic report that traditionally causes the maximum volatility of markets among all the world’s data publications. In recent months, markets have been shifting their focus from employment data to attempts to determine the impact of US and Chinese trade conflict.
Previous lull on employment report does not mean that the markets have lost interest in the NFP. Just the opposite. It may well turn out that the current release will attract more attention, if it sparks speculation around the further path of the economy and, as a consequence, monetary policy.
On average, the markets predicted an increase in employment by 180K. If the figure is closer to the levels indicated by ADP, it may be a severe disappointment for the optimists.
https://fxpro.news/daily-forex-outlook/weak-data-is-the-problem-for-usd-or-for-the-rest-of-the-world-20191206/
Today is the day of the release of the US employment data – an influential macroeconomic report that traditionally causes the maximum volatility of markets among all the world’s data publications. In recent months, markets have been shifting their focus from employment data to attempts to determine the impact of US and Chinese trade conflict.
Previous lull on employment report does not mean that the markets have lost interest in the NFP. Just the opposite. It may well turn out that the current release will attract more attention, if it sparks speculation around the further path of the economy and, as a consequence, monetary policy.
On average, the markets predicted an increase in employment by 180K. If the figure is closer to the levels indicated by ADP, it may be a severe disappointment for the optimists.
https://fxpro.news/daily-forex-outlook/weak-data-is-the-problem-for-usd-or-for-the-rest-of-the-world-20191206/
The US employment report rolled out noticeably better than expected, helping markets to discard concerns about slowdowns amid prolonged trade wars.
The number of new jobs increased by 266K in November, the highest rate in 13 months. The number of payrolls in the manufacturing sector jumped by 54K over the last month after a 43K decline previously due to strikes at GM factories.
The unemployment rate returned to more than 50-year lows at 3.5%, where it was in September.
For almost all key parameters, this was a positive report, so the market reaction in the first minutes looks very classic.
The dollar index climbed 0.3%, getting support at the 200-day average. EURUSD retreated below 1.11000 levels, while GBPUSD turned lower from 1.3150. In the stock markets, futures for S&P500 experienced an increase in growth momentum, added 0.5% after the publication of the data and reaching Monday levels.
Healthy labour market data may cement expectations that the Fed will not cut rates soon.
However, if you look beyond the limits of short-term fluctuations, it is crucial to understand that improvements in Europe and Asia often follow robust data from the US. If this will be so, other central banks can also take a more robust monetary position as Fed did, which will undermine the value of USD to other currencies.
The number of new jobs increased by 266K in November, the highest rate in 13 months. The number of payrolls in the manufacturing sector jumped by 54K over the last month after a 43K decline previously due to strikes at GM factories.
The unemployment rate returned to more than 50-year lows at 3.5%, where it was in September.
For almost all key parameters, this was a positive report, so the market reaction in the first minutes looks very classic.
The dollar index climbed 0.3%, getting support at the 200-day average. EURUSD retreated below 1.11000 levels, while GBPUSD turned lower from 1.3150. In the stock markets, futures for S&P500 experienced an increase in growth momentum, added 0.5% after the publication of the data and reaching Monday levels.
Healthy labour market data may cement expectations that the Fed will not cut rates soon.
However, if you look beyond the limits of short-term fluctuations, it is crucial to understand that improvements in Europe and Asia often follow robust data from the US. If this will be so, other central banks can also take a more robust monetary position as Fed did, which will undermine the value of USD to other currencies.
Holiday market mood: risky assets purchases prevails
The end of the year on the financial markets turned out to be very positive. Asian stock markets ply near multi-month highs; the American markets are leaning towards growth, according to the dynamics of futures on the major indices.
Markets engrossed by the idea that the worst is over. The easing of the central bank policy is already bearing fruit, which can be seen in the improved macroeconomic indicators of China and the Japan. Separately, China and the U.S. have managed to agree on a phase one trade deal, but it is not officially signed yet.
The single currency behaves a little more modestly. On Friday, EURUSD failed to climb to levels above 1.1200 and consolidate over the 200-day average. However, the markets will follow with caution the release of the first PMI estimates in December for the countries of the Euro-region.
https://fxpro.news/daily-forex-outlook/holiday-mood-risky-assets-purchases-prevail-in-the-markets-20191216/
The end of the year on the financial markets turned out to be very positive. Asian stock markets ply near multi-month highs; the American markets are leaning towards growth, according to the dynamics of futures on the major indices.
Markets engrossed by the idea that the worst is over. The easing of the central bank policy is already bearing fruit, which can be seen in the improved macroeconomic indicators of China and the Japan. Separately, China and the U.S. have managed to agree on a phase one trade deal, but it is not officially signed yet.
The single currency behaves a little more modestly. On Friday, EURUSD failed to climb to levels above 1.1200 and consolidate over the 200-day average. However, the markets will follow with caution the release of the first PMI estimates in December for the countries of the Euro-region.
https://fxpro.news/daily-forex-outlook/holiday-mood-risky-assets-purchases-prevail-in-the-markets-20191216/
FX: The dollar index develops a downtrend, DXY sank to 97.0, returning to decline in the new week. EURUSD is trading near 1.1140, failing to build its growth on Friday. GBPUSD is correcting after the jump above 1.35 on Friday but maintain a positive bias.
Stocks: Futures for S&P500 added 0.3% to Friday closing levels, reaching 3182. EuroStoxx 50 Index added 0.4% since the beginning of the day. The VIX volatility index fell 1.5% to 12.50.
Commodities: Brent stands at $ 64.50, pumping on the positive mood of the financial markets. Gold added slightly to $ 1,477amid falling dollar.
Crypto: Bitcoin is near $ 7050, desperate to turn around for growth. The top 10 altcoins ranged from -2.8% (XRP) to -0.8% (BSV).
Stocks: Futures for S&P500 added 0.3% to Friday closing levels, reaching 3182. EuroStoxx 50 Index added 0.4% since the beginning of the day. The VIX volatility index fell 1.5% to 12.50.
Commodities: Brent stands at $ 64.50, pumping on the positive mood of the financial markets. Gold added slightly to $ 1,477amid falling dollar.
Crypto: Bitcoin is near $ 7050, desperate to turn around for growth. The top 10 altcoins ranged from -2.8% (XRP) to -0.8% (BSV).
#WaveAnalysis
#AUDCAD is expected to fall further toward the next support level 0.9000
https://fxpro.news/market-snapshots/audcad-wave-analysis-16-december-2019-20191216/
#AUDCAD is expected to fall further toward the next support level 0.9000
https://fxpro.news/market-snapshots/audcad-wave-analysis-16-december-2019-20191216/
#WaveAnalysis
#Apple is expected to rise further toward the next resistance level 280.0, intersecting with the resistance trendline of the wide daily up channel from May.
https://fxpro.news/market-snapshots/apple-wave-analysis-16-december-2019-20191216/
#Apple is expected to rise further toward the next resistance level 280.0, intersecting with the resistance trendline of the wide daily up channel from May.
https://fxpro.news/market-snapshots/apple-wave-analysis-16-december-2019-20191216/
The Santa Claus Rally on World Markets
US stock exchanges continue to make new highs, pulling up the indices of European and Asian exchanges. Markets want a positive end of the year, waving away some unpleasant signals over and over again.
Weak data on the European PMI, as well as relatively inexpressive statistics from the US, did not prevent the stock price growth.
It should be noted that such indicators act as a leading indicator of business cycles, and therefore market players usually pay such close attention to them, but not now.
https://fxpro.news/daily-forex-outlook/the-santa-claus-rally-on-world-markets-20191217/
US stock exchanges continue to make new highs, pulling up the indices of European and Asian exchanges. Markets want a positive end of the year, waving away some unpleasant signals over and over again.
Weak data on the European PMI, as well as relatively inexpressive statistics from the US, did not prevent the stock price growth.
It should be noted that such indicators act as a leading indicator of business cycles, and therefore market players usually pay such close attention to them, but not now.
https://fxpro.news/daily-forex-outlook/the-santa-claus-rally-on-world-markets-20191217/
Crypto market was the star of the last 10 years, but now it testing hopes
The Bank of America Merrill Lynch concluded that Bitcoin became the most profitable asset of the outgoing decade. Supporters and opponents of the first cryptocurrency still can’t decide what Bitcoin will be for the global financial system in the historical perspective.
However, shortly, the search for a possible “bottom” where Bitcoin may lay in the next few months and from where he may form a turnaround to growth, looks correct.
https://fxpro.news/analysis-and-insight/crypto-market-was-the-star-of-the-last-10-years-but-now-it-testing-hopes-20191217/
The Bank of America Merrill Lynch concluded that Bitcoin became the most profitable asset of the outgoing decade. Supporters and opponents of the first cryptocurrency still can’t decide what Bitcoin will be for the global financial system in the historical perspective.
However, shortly, the search for a possible “bottom” where Bitcoin may lay in the next few months and from where he may form a turnaround to growth, looks correct.
https://fxpro.news/analysis-and-insight/crypto-market-was-the-star-of-the-last-10-years-but-now-it-testing-hopes-20191217/
The Pound ends year with anxiety; the Euro chose to wait and see
The British pound on Tuesday experienced the sharpest decline in 13 months. The GBPUSD declined by 1.6% due to concerns over the hard line of Boris Johnson on trade negotiations with the EU.
The markets may have run ahead of the train again, expecting the volatility of the pound to be over. In this case, there are more and more similarities with Trump, whose arrival marked the increased uncertainty for the markets.
The most popular currency pair – EURUSD – is experiencing its mini-moment of truth. The Euro could not overcome the level of 1.1200, stalling near the resistance levels of the last two months, and staying at the important waterline in the form of the 200-day moving average.
https://fxpro.news/daily-forex-outlook/the-pound-ends-year-with-anxiety-the-euro-chose-wait-and-see-mode-20191218/
The British pound on Tuesday experienced the sharpest decline in 13 months. The GBPUSD declined by 1.6% due to concerns over the hard line of Boris Johnson on trade negotiations with the EU.
The markets may have run ahead of the train again, expecting the volatility of the pound to be over. In this case, there are more and more similarities with Trump, whose arrival marked the increased uncertainty for the markets.
The most popular currency pair – EURUSD – is experiencing its mini-moment of truth. The Euro could not overcome the level of 1.1200, stalling near the resistance levels of the last two months, and staying at the important waterline in the form of the 200-day moving average.
https://fxpro.news/daily-forex-outlook/the-pound-ends-year-with-anxiety-the-euro-chose-wait-and-see-mode-20191218/
#WaveAnalysis
#EURUSD is expected to fall further toward the next support level 1.1100 (former resistance from November).
https://fxpro.news/market-snapshots/eurusd-wave-analysis-18-december-2019-20191218/
#EURUSD is expected to fall further toward the next support level 1.1100 (former resistance from November).
https://fxpro.news/market-snapshots/eurusd-wave-analysis-18-december-2019-20191218/
#WaveAnalysis
Natural Gas (#NTG) is expected to fall further toward the next support level 2.155
https://fxpro.news/market-snapshots/ntgusd-wave-analysis-18-december-2019-20191218/
Natural Gas (#NTG) is expected to fall further toward the next support level 2.155
https://fxpro.news/market-snapshots/ntgusd-wave-analysis-18-december-2019-20191218/
More data confirms positive market sentiment
American stock indices and the dollar mostly ignored the results of impeachment voting.
If that is not enough, positive macroeconomic data are already coming from the Asia-Pacific region. The published data on employment in Australia in the morning sharply exceeded expectations, which caused an AUDUSD to rally on decreased fears of further rates cut.
New Zealand also saw a sharp increase in GDP by 0.7% QoQ.
Australia and New Zealand data adds to positive mood on top of a couple of surveys saw increase in market and economy optimism.
https://fxpro.news/daily-forex-outlook/more-data-confirms-positive-market-sentiment-20191219/
American stock indices and the dollar mostly ignored the results of impeachment voting.
If that is not enough, positive macroeconomic data are already coming from the Asia-Pacific region. The published data on employment in Australia in the morning sharply exceeded expectations, which caused an AUDUSD to rally on decreased fears of further rates cut.
New Zealand also saw a sharp increase in GDP by 0.7% QoQ.
Australia and New Zealand data adds to positive mood on top of a couple of surveys saw increase in market and economy optimism.
https://fxpro.news/daily-forex-outlook/more-data-confirms-positive-market-sentiment-20191219/
Bit-comment: Bitcoin bounced after the drop
Bitcoin made a sharp rebound on Wednesday evening after touching levels near $6,500. An additional inspiring signal was a significant increase in trading volumes along with the price. During the night, Bitcoin bounced back more than 8% and changed hands for $7,200 this morning.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-bounced-after-the-drop-20191219/
Bitcoin made a sharp rebound on Wednesday evening after touching levels near $6,500. An additional inspiring signal was a significant increase in trading volumes along with the price. During the night, Bitcoin bounced back more than 8% and changed hands for $7,200 this morning.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-bounced-after-the-drop-20191219/
Christmas and New Year Holiday Trading Schedule
Starting next week, markets will be affected by the holiday trading schedule. Please, take a look at the changes in trading of various financial instruments at Market Holidays page
https://fxpro.news/brokers-news/christmas-and-new-year-holiday-trading-schedule-20191219/
Starting next week, markets will be affected by the holiday trading schedule. Please, take a look at the changes in trading of various financial instruments at Market Holidays page
https://fxpro.news/brokers-news/christmas-and-new-year-holiday-trading-schedule-20191219/
Important upcoming events (GMT):
09:30 GBP 🇬🇧 [!!] UK Current Account
13:30 CAD 🇨🇦 [!!] Canada Retail Sales
14:30 GBP 🇬🇧 [!!!] UK Parliament Brexit Vote
15:00 USD 🇺🇸 [!!] US Personal Income/Outlays
Detailed economic calendar
09:30 GBP 🇬🇧 [!!] UK Current Account
13:30 CAD 🇨🇦 [!!] Canada Retail Sales
14:30 GBP 🇬🇧 [!!!] UK Parliament Brexit Vote
15:00 USD 🇺🇸 [!!] US Personal Income/Outlays
Detailed economic calendar
Stocks and commodities are rising, but currencies are on alert
The world markets remain positive, recording new attempts to climb higher, as US S&P 500 updated historical highs for sixth session in a row. Along with the growth of stock indices, the growth of oil prices also attracts attention.
In contrast to the constant demand for the stocks and commodities, the foreign exchange market behaves noticeably more cautiously as major currency pairs bounce back from recent extremes.
Moreover, market participants call today “Quadruple Witching day” that may lead to higher than normal volatility on markets.
https://fxpro.news/daily-forex-outlook/stocks-and-commodities-are-rising-but-currencies-are-on-alert-20191220/
The world markets remain positive, recording new attempts to climb higher, as US S&P 500 updated historical highs for sixth session in a row. Along with the growth of stock indices, the growth of oil prices also attracts attention.
In contrast to the constant demand for the stocks and commodities, the foreign exchange market behaves noticeably more cautiously as major currency pairs bounce back from recent extremes.
Moreover, market participants call today “Quadruple Witching day” that may lead to higher than normal volatility on markets.
https://fxpro.news/daily-forex-outlook/stocks-and-commodities-are-rising-but-currencies-are-on-alert-20191220/
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