Markets are waiting for news

By 29/10/2019News
Morning Stock News

Gold   1491,84
(– 0,01%)

EURUSD   1,1090
(– 0,07%)

DJIA   27046,50
( 0%)

OIL.WTI  55,53
(– 0,34%)

DAX   12946,83
(– 0,08%)

Optimism rising among investors on Donald Trump’s speech on progress in trade deal with China. S&P hit a record high and breaking above an all-time high, trading above 3027, 98 mark set over July.

DAX30 Daily-Chart

morning-news-29.10.2019

The 27 European countries agreed to give the UK a Brexit extension until January 31, 2020. This is a good news for the United Kingdom; there is still enough time to make agreements and solve all the current problems. European markets are closing slightly higher on expectations on the Fed’s interest rates, US GDP and Nonfarm payrolls.

EURUSD

Market was trading sideways on the week’s first trading day. Slow market can develop into volatility storm very quickly. The further direction for EUR/USD pair for the next few weeks depends on the macroeconomic data releasing this week. If the Fed will go on with the “pigeon” rhetoric, probably the bulls will want to test the 1.12 mark this week.

GOLD

Judging on how Gold is trading on $1500 mark, the market traders are foreseeing the Fed’s actions on Wednesday. Most probably, the interest rate will be cut, and that will give support to the price of Gold in the next weeks. It is unlikely that the interest rate cut will be delayed until December, as usually before Christmas holidays the Federal Reserve prefers not to shake the markets with important decisions.

INDICES

The world’s stocks are trading in green zone today thanks to optimism on trade talks between US and China. More than 200 US companies will release reports this week. That will also have an impact on the market. If the reports and the economic news will be positive, we can see new record highs on US market.

What’s next?

16.00 October consumer confidence index, US
16.00 US pending home sales in September


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