1. Stock Markets Lower
In Europe, stock markets started the day mixed on Wednesday, only to edge lower soon after, as bourses struggle to rebound from Monday’s massive sell-off. GDP out of Germany came in ok and all eyes are now focused at the European GDP to see how the overall EU economy is fairing. Meanwhile, U.S. futures pointed to a higher US open, as investors focus on economic data and new corporate earnings. Market participants will also be looking at today’s US Retail Sales data due to be released at 15:30 GMT later today for more directional input.*
2. Forex Preview: Aussie Drifts Lower
The USD gained a little today, but is still somewhat stuck with no immediate pressure in any one direction. The EUR pushed back to the 1.12 level, while weaker than expected GDP numbers out of the EU later today could become another reason for further selling. The Aussie meanwhile drifted further lower to multi-year lows on weak Chinese data.**
3. Oil Prices Drop
Oil prices dropped on Wednesday after data showed a surprise rise in U.S. crude stockpiles, but prices were supported by mounting tensions in the Middle East. Crude remains well supported before the 200-day moving average which was not challenged despite a build in the APIs. It should be noted, that if Europe and the US come in with weaker than expected data, just as China did earlier this morning, it may influence oil further and push prices even lower.*
4. Gold Fails to Conquer $1300, BTC Drops Below $8K
Spot gold rejected at the $1,300 and if supported at or before $1,290 the upward channel remains intact. Elsewhere, bitcoin could not hold above $8,000 and has lost 3.52% to last trade at $7898.8 as some investors seem to be cashing in on the recent rally.***
You can find and trade all of the above mentioned CFD assets on BDSwiss Forex/CFD platforms.
Sources
*Investing May 15, 2019 2:48 AM ET
**Reuters May 15, 2019 3:53 AM ET
***CNBC May 15, 2019 03:07 AM ET
