Has the Christmas rally already begun?

Morning Stock News

Gold   1460,22
(-0,24%)

EURUSD   1,1018
(+0,04%)

DJIA   28147,50
(+0,36%)

OIL.WTI  56,04
(+1,14%)

DAX   13229,46
(+ 0,01%)

The end of last week didn’t bring any more news about the trade talks. The bickering between US and China just won’t end. The unrest in Hong Kong isn’t helping, either. Altogether these issues are affecting the markets negatively, dragging down the indices.

Brent day chart

Brent day chart

For Bitcoin, the end of the trading week turned out much better than its beginning. BTC managed to return above $7000 and dig in around the $7500 mark. The crypto market is much smaller than traditional markets, which makes it easier to manipulate. Even though Bitcoin is showing upward movement, this could very well be a correction within the general downward trend.

EUR/USD

Consumer price index in the euro area has accelerated to 1%, which is higher than expected. In spite of this news, the pair failed to grow. Euro’s weakness remains in evidence. The absence of significant movement shows that the market is balanced and that both the bulls and the bears are happy with the current $1.10 price.

GOLD

Gold ended November in the red, having lost 3.24%. There’s a lack of sellers in the market, and it’s quite possible that gold will finish the year at $1500. The deteriorating relationship between China and the US is forcing investors to move into hedging assets, such as gold.

INDICES

Friday showed that markets are easy to scare right now. After the holiday, the US markets belatedly reacted to Thursday’s news. S&P500 lost 0.4% and closed at 3140. Overall, markets in the US showed good growth in November, so the latest slump could have just been large players taking profits.

What’s next?

2.45 China: manufacturing activity index
9.55 Germany: manufacturing activity index
10.30 UK: manufacturing activity index
16.00 US: manufacturing activity index


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