Market Update – Key News – Trump Comment – GBP rally – Chart Breakdown

November 12, 2019
by Joseph Jeffriess, Market Analyst

Article Recap

Key Points:

• Trump hints at possible 6-month delay in EU Auto tariffs
• Singles Day breaks Alibaba records, 30 billion in sales and still climbing
• New Zealand Inflation Expectations drop to 180% – NZDUSD continues to dive post data.
• GBP ignores weaker prelim GDP, manufacturing production data and possible Moodys downgrade to end yesterday higher

Today’s Medium-impact economic news:

• 8:30 pm GBP Average Earnings Index EXP 3.8%
• 9:00 pm EUR German ZEW Economic Sentiment EXP -13.2
• 9:30 pm EUR FOMC Member Clarida Speaks

The ASX yo-yo continues with price down 0.57% in today’s sessions while the Nikkei and Hang Seng are higher. The Hang Seng was hammered over 2% lower in yesterday’s session. The risk has seen a mixed session to the USD and JPY so far. The AUDUSD hitting new weekly lows while the EURUSD continues to remain above 1.1020. after buyers snapped a 5-day losing streak. Chinese shares remain mainly lower, but the China A50 is trading higher at this stage.

New Zealand inflation expectations came in at 1.80% below the last 1.86%. The RBNZ is expected to drop rates in tomorrow’s meeting. The NZDUSD has been hit hard dropping 0.40% this hour.

Today’s update video, we look at today’s Asian session so far and focus on the GBPUSD, GBPCAD, EURUSD and Bitcoin daily charts.

Good trading from Eightcap.
All times are AEDT.