Nov 15, 2017 – Market Update (Xi to visit NoKo one day, Mohammed El-Erian a new Fed vice-chair?, Stocks not comfortable with no new catalyst, GE story, Airbus – a new USD 40 bln order?, Volkswagen and police/tax authorities again, US yield curve flattening despite 2-yr yield hitting a 9-yr high, EURUSD – forget about H&S, looking at 1.1900, USDJPY to dip below 112.00)

Mr Price Action/ November 15, 2017/ Market Update, Market Update Posts/ 0 comments

 

Short recap

 

Asia in red but BoJ active in ETF buying

Europe opening lower

Special envoy from China heading to NoKo on Nov 17

Central bankers talking about an end of easy money

Mohammed El-Erian a new Fed vice-chair?

 

Risk bubbles rising across EMs:

Military taking over in Zimbabwe, where is Mugabe?

Venezuela defaulting, South Africa to be downgraded

 

Equities

 

Stocks not comfortable with no new catalyst, GE story

And getting nervous about upcoming Fed tightening

Airbus – a new USD 40 bln order for 400 planes coming?

Volkswagen having issues with police and tax authorities

Loxo Oncology entering into collaboration with Bayer (USD 1.6 bln)

Biotech firms focusing on using bacteria in cancer research

Bombardier signing a USD 1.1 bln deal with EgyptAir

 

Earnings

 

Cisco – expecting decline in revenue from traditional products

Target

 

Bonds

 

10-yr Trys yield at 2.36%

2-yr Notes touched a 9-yr high but the yield curve keeps flattening

10-yr Bund yield at 0.39%

 

EURUSD

 

Huge H&S reversal is over after breaking 1.1700

Decisive break of 1.1615 (high from May 2016), 1.1649 (200 WMA), 1.1670 and descending trendline connecting the lows of Oct 2008, Jul 2012

Also broke 1.1736 (100 DMA) 1.1785 (50 DMA), 1.1810 (38.2% Fibo of 2014-2015 decline) and 1.1822 (50.0% Fibo)

Next resistance Oct highs and 1.1886 (61.8% Fibo)

 

Source: Saxo Bank

 

USDJPY

 

Resistance at 113.65 (10 DMA), 113.00, 112.97 (23.6% Fibo),

Support at 112.47 (50 DMA)

Closing below 23.6% Fibo will expose 111.90 (38.2% Fibo), 111.76 (200 DMA) and 111.72 (100 DMA)

 

Data/events

 

EU General Affairs Council meeting

Fed’s Evans (0800 GMT)

ECB’s Praet (1000 GMT)

Fed’s Rosengren (2110 GMT)

 

Nov 28 – Powell before Senate Banking Committee

Dec 13 – FOMC

Dec 14 – ECB

Dec 14-15 – EU Summit talking Brexit

 

 

Should you have any questions feel free to contact me anytime.

 

Good luck Champs!

 

Mr Hawk

 

 

 

DISCLAIMER: This material was created for informational purposes only and represents the Land of Trading team’s view of the past and current economic and capital market environment. It is not an investment advice and should not be viewed that way at all, and the creators of this material cannot be held liable for any potential losses resulting from trading, where despite this disclaimer someone would consider this material as an investment advice. All rights reserved ©2016. Contact: landoftradingATgmailDOTcom

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