Morning News – 16.10.2019

By 16/10/2019News
Morning Stock News

Gold   1483,83
(+ 0,19%)

EURUSD   1,1032
(+0,01)

DJIA   265926,50
(– 0,25)

OIL.WTI  52,88
(– 0,02%)

DAX   12605,86
(– 0,22%)

The markets have come close to their 2019 highs; the pound keeps growing, while oil is down and unwilling to support the growth of risky assets. This is a very worrying signal for the black gold.

DAX30 Tages-Chart

EURUSD

The EU’s Chief Negotiator Michel Barnier has stated that a “narrow path” to Brexit is still open and an agreement could be reached later this week. It seems like the EU officials and the UK government finally reached a solution – but of course, they won’t tell us about it. However, insiders are pushing the pound up: the price has almost reached the 1.28 mark.
Euro was down at the start of the trading session, but later managed to regain lost ground. For the third day in a row, the price keeps testing the 50-day MA line. Speculators are betting on a confident breakthrough and further growth of the EUR/USD up to 1.11 and even 1.12.

GOLD

With all this positive news, gold is down again. The rumors of an upcoming trade agreement between the US and China are still being actively discussed. We’re witnessing a roller-coaster of sorts, with investors’ mood changing radically almost every day.

INDICES

S&P 500 is now a bit below its all-time high. In the very near future the index is likely to test that maximum. There’s still enough time till the end of the year for the it to gain a few more percentage points – unless a global correction happens.

What’s next?

10.30 am – UK consumer price index data for September
11 am – EU consumer price index data for September
2.30 pm – US retail sales data for September
10.30 am – UK unemployment and wages data
9 pm – A statement by the member of the Fed’s Federal Open Market Committee Lael Brainard

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