Posted on: 18 November 2015, by: Pepperstone Support, category: Market Review
Equities markets spent the day in positive territory before reversing these gains late in the NY session as headlines began hitting the tape around 1445 EST. A soccer match that Chancellor Merkel was supposed to attend was cancelled; early headlines suggested that a truck bomb had been found but were later dismissed as Germany’s interior minister confirmed that no bomb had been found. No further details were given but the minister said the match was cancelled for good reasons.
US industrial unexpectedly fell at -0.2%MoM vs an expected increase of 0.1%. CPI matched consensus at 0.2% for headline and core.
NZDUSD remained heavy under .6500 as the GDT price index came in at -7.9%. AUD saw some selling during the NY session as weak commodities served to weigh on the currency.
Gold continued to trend lower breaking support around 1072 and trading to a low near 1065.
German ZEW data was mixed, EURUSD remained below 1.0680 consolidating within a range above 1.630. ECM Praet delivered a dovish message but nothing that offered much in terms of new details.
Tomorrow we will see a number of Fed speakers ahead of the FOMC minutes, markets seem to be waiting for any clues about what the Fed intends for the Dec meeting.