US data to offer clarity
|Important news for the day
Fri, 20th, 09:30 CET DE Flash Manufacturing PMI.
Fri, 20th, 10:30 CET UK Flash Manufacturing PMI.
Fri, 20th, 14:30 CET US Core pce price index / Advance GDP.
Fri, 20th, 15:45 CET US Flash Manufacturing PMI.
PCE data
Today’s PCE data might influence markets. Yesterday’s unemployment claims came in better than expected. this in turn caused stocks to weaken slightly as the FED is hence not expected to cut interest rates further due to the economic positive result. Today’s PCE dtaa is expected to rise slightly. A stronger reading could indeed support the same view and dampen the positive sentiment in stocks.
Market talk
After days of rather sideways price action the Dollar finally started to gear up some momentum again. The EUR and GBP are weakening. The bearish momentum especially in the Pound might increase below the support zone of 1.3400. The AUD remains rather positive against the Dollar. This also reflects the positive sentiment in equities. The S&P 500 looks positive before the weekend and also the Nasdaq is rising slightly. The DAX needs to break the technical resistance zone of 25,270 in order to push higher.
Tendencies in the markets
- Equities positive, USD positive, crypto sideways, oil positive, Silver positive, Gold positive.
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