Today’s focus is on the protests in Catalonia, a major order for Airbus, and Trump’s statements.
News
Catalans are protesting for independence from Madrid. Affects EUR
Russia will decrease the dollar part of its National Wealth Fund. Affects RUB
Markets decline after Trump’s promise to increase tariffs if they reach agreement with China. Affects S&P500
Airbus can get a large order from Air Arabia. Affects Boeing
British Labour leader Jeremy Corbyn promised not to hold a referendum on the independence of Scotland if he wins the election. Affects GBP
Calendar
09:30 GMT
The UK releases a report on retail sales. Analysts expect an increase of 0.2%. A smaller reading will affect the GBP negatively.
13:30 GMT
The US will update its PPI. Analysts expect an increase of 0.3%. If the result is smaller, the USD will get under pressure.
15:00 GMT
Fed’s Chairman Jerome Powell will deliver a speech. At the moment, the market expects a hint at a further rate cut. If there is no rate cut, S&P500 may get a negative push.
15:00 GMT
The US releases a report on the country’s crude oil reserves. Experts expect the reserves to increase by 1.6 mln barrels. If the reading is higher, the Brent price may go down.
Technical analysis
S&P500
After positive statements from both Chinese and US sides, the markets continued the bullish trend despite the obvious overbought. However, no trade deal between the countries has been reached yet. Donald Trump understands it, so he is beginning to pressure China by criticizing, which caused market sell-offs.
Although the S&P500 index continues to trade within the channel, traders begin to discern a triple top pattern, which may reverse the trend.
EUR/NZD
The currency pair lost support from the level of 1.73000 and now the quotes are likely to fall to 1.70,000.
USD/CLP
Chile’s peso has shown strength, having formed a pin bar candlestick pattern for the first time since the beginning of the political crisis in the country.
EUR/NZD on this day in history
- Since 2000, November 14 has been a trading day 15 times.
- On 53% of those days, the asset ended with growth.
- The maximum reinforcement range was 2.76%
- The trend down was limited to 1.06%.