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Market Analysis: DE 30 and EURUSD: Business : Nigerialog.com - Nigeria's Premier Online Forum (90 views)

Market Analysis: DE 30 and EURUSD

By alagbe003 (M)June 11, 2018, 09:28:31 AM
EURUSD
The Greenback clawed back against the Fibre on Friday as unimpressive economic data from the eurozone weighed on the Common currency. German Industrial Production released by Destatis showed a huge decline in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. German Trade Balance also slumped as French Industrial Production faltered.

Today, the instrument opened below the pivot and is surging northward on both the 1H and 4H timeframes on a day with no major economic data with direct bearing on the instrument.
The Greenback is currently trading bearish against major currency pairs as the market reacts to the decision of President Donald Trump to walk out of the G7 Communique over the weekend. The Meeting was not totally a failure as they were unanimous in their decision on North Korean Nuclear weapon which makes the meeting between Kim Jong-Un and Donald Trump tomorrow a decisive one.  Sentiment with respect to the return of Global Trade wars arising from tariff imposition by the United States is expected to weigh on the Greenback and help push the instrument further Northward (buy)


Re: Market Analysis: DE 30 and EURUSD

By alagbe003 (M)June 11, 2018, 09:29:16 AM

DE30

German stocks closed higher on Friday despite the losses recorded in the Transportation & Logistics, Telecoms and Basic Resources
The gap down experienced on the instrument this morning was due to the reaction of the market to return of global trade war due to the decision of President Donald Trump backing out of the Joint G7 communique over the weekend. The instrument is now recovering from the loss as investors look ahead to the historic meeting between Donald Trump and Jong-Un in what is expected to give hope to the end of nuclear stand-off o the Korean peninsula.  The instrument is expected to touch the next resistance level before any retracement.


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