Charts Today – Markets continue to struggle on trade [Video]

David Linton Updata Ltd

Charts Today – 13 May 2019 – Markets continue to struggle on trade wars

Dollar Index short term bearish. Eurodollar gains. Sterling falters.
Bitcoin moves higher, now above $7,000.
US stocks short term bearish and set to open much lower today based on US futures.
UK blue chips and midcaps lower. German and French stock indices lower.
Asian stocks short term bearish. HK bucks trend.
Crude oil up.
Gold set to move either way.
US bond yields lower.
European car makers hit again.

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 bounces off lows, back to 1.1860

EUR/USD now manages to regain some balance, retesting the 1.1860-1.1870 band after bottoming out near 1.1830 following the US NFP data on Wednesday. The pair, in the meantime, remains on the defensive amid fresh upside traction surrounding the US Dollar.

GBP/USD rebounds to 1.3660, USD loses momentum

GBP/USD trades with decent gains in the 1.3660 region, regaining composure following the post-NFP knee-jerk toward the 1.3600 zone on Wednesday. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold stays bid, still below $5,100

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of humble gains in the US Dollar and 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.