Short recap
Asia in green
Europe opening
higher
OPEC day
today with not only oil but energy stocks in focus
NoKo
threating with new missile test again
But no reaction
from the markets (a sign that conflict escalation is low for the time being)
Powell
with dovish tilt, no change to rate path
HFs
having hard time to earn money from bond and FX trading
And may move
over to strategies of flattening of US yield curve and USD weakness next year
Brexit –
rumours about preliminary exit bill agreement (UK agreed to pay much of EU
bill, likely EUR 50 bln)
GBP on a
stronger foot today
Senate vote on tax
bill already on Thursday
EU to freeze
funding for tax heavens, new black and grey list coming
Britain, Malta
and Netherlands used for aggressive tax planning
Bitcoin above
10k (up 940% in 2017)
Not threatening
the world economy by its seize but creating a psychological bubble
Equities
Goldman Sachs
interested in metals trading arm of Scotiabank (USD 1 bln)
Softbank
looking to buy Uber shares at 30% discount
Royal Dutch
Shell partnering with car producers in installing super-fast chargers in
Europe
Oil majors
moving aggressively to shale
Bonds
10-yr Trys
yield at 2.33%
10-yr Bund
yield at 0.35%
It's Time to Get Out of Emerging Asian
Currencies: LGT link
Slower growth in
China, U.S. tax reform are both set to weigh
Higher interest
rates are already largely priced in
EURUSD
Resistance
1.1886 (61.8%)
Support 1.1822
(50.0% Fibo/10 DMA). 1.1810 (38.2% Fibo of 2014/15 decline)
USDJPY
Support 111.02
(50.0% Fibo)
Resistance
111.58 (100 DMA), 111.68 (200 DMA), 111.80 (10 DMA), 111.89 (38.2% Fibo)
Gold
Getting some
support from NoKo provocations but needs more JPY strength to move higher
Dowside is
limited on geopolitical and economic risks
Not able to
break 1300 (Fibo, psychological resistance)
Next resistance
1306, 1313, 1321 (23.6% Fibo)
Support 1288 (10
DM), 1281 (50.0% Fibo), 1283-85 (50/100 DMA)
Weekly
Commodity: Oil bulls supported by Canadian supply disruption,
Thursday OPEC meeting in focus link
Data/events
OPEC meeting –
to discuss cut extension and duration
Is Russia on the same page? As many
independent producers may not necessarily obey the cuts
What about Iraq, Libya, Nigeria as they keep
pumping
US inventories up while shale oil production
rising
ECB’s Constancio (1000 GMT)
Fed’s Dudley (1330 GMT)
Fed’s Yellen hearing (1500 GMT)
ECB’s Weidmann (1700 GMT)
Fed’s Williams (1745 GMT)
Dec 13 – FOMC
Dec 14 – ECB
Dec 14-15 – EU Summit talking Brexit
Dec 21 – BoJ
Dec 21 – Catalonia elections
Should you have any questions feel free to contact me
anytime.
Good luck Champs!
Mr Hawk
DISCLAIMER: This material was created for informational
purposes only and represents the Land of Trading team’s view of the past and
current economic and capital market environment. It is not an investment advice
and should not be viewed that way at all, and the creators of this material
cannot be held liable for any potential losses resulting from trading, where
despite this disclaimer someone would consider this material as an investment
advice. All rights reserved ©2016. Contact: landoftradingATgmailDOTcom
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