04.12.201909:37 Forex Analysis & Reviews: Trader Morning Coffee 04/12_what you need to know

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Good morning all,

Equity markets have suffered losses for the second day in a row both in the European and US markets. Selling pressure has increased in the equity market after Trump's comments about tariffs against French products (as a provocative response to the internet taxation) and,especially, hints that the US is no hurry to conclude the US-China trade deal (possibly postponing it after the 2020 elections).

While USD was weakening, UK FTSE was one of the biggest losers, sinking 1.8%. The US indices set off some of their early losses. They started the spot session with (more than 1% down). (all in line with our yesterday post).

As said, the US dollar lost ground against AUD and GBP. However, it is close to ST important levels. Today, it is showing some signs of recovery.

VIX jumped by almost 10%. NATGAS and CrudeOil continued their difficult recovery after Friday sell off. Also GOLD is showing some strength, but it is trading still below 1.500.

ECONOMICS DATA

IT, FR, SP, GE, EU, UK Markit PMI 08.15 / 9.30 Gmt
US ADP Employment change 13.15 Gmt
US Markit PMI 14.45 Gmt
US ISM NON MANUFACTURING 15.00 Gmt
EIA Crude Oil stocks Change 15.30 Gmt

OVERNIGHT

Asian equity markets extended losses as global risk appetite remained sapped by the turbulent trade climate
Strong Chinese Caixin Services and Composite PMI numbers added to the country's recent flurry of strong activity data
Google founders Larry Page and Sergey Brin are stepping down as leaders of parent group Alphabet Inc.
The global banking sector has now cut more than 75,000 jobs this year, with the vast majority of them in Europe

Stay Safe

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.