Charts Today – Global stocks fall on China worries [Video]

David Linton Updata Ltd

Charts Today – Europe Open – 14 Dec 2018 – Global stocks fall on China worries

Dollar lower, short term bearish. Euro up, Sterling lower.
US markets lost more ground on Friday. US futures signal lower opening.
UK and Germany open down, Japan, HK and China all down. Oz down over 2%.
Crude oil looking better short term.
Gold up holding short term bullish.
US bond still yields weak short term.
Medium term downtrends still dominate.
UK utilities hit this morning.

Author

David Linton

Updata Ltd

David Linton founded Updata in 1991 after several years trading and developing systems himself. He is a regular commentator on financial markets in the UK press and TV.

EUR/USD makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.