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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 140045, member: 32345"] [B]Date : 6th December 2017. MACRO EVENTS & NEWS OF 6th December 2017.[/B] [IMG]https://analysis.hotforex.com/wp-content/uploads/2017/12/2017-12-06_9-10-11.gif[/IMG] [B]FX News Today[/B] [B]European Outlook[/B]: Stock markets tanked in Asia overnight, with Nikkei and Hang Seng both losing nearly 2% as technology, mining, consumer and industrial sectors came under pressure and a stronger Yen added to the sell off in Japanese stock markets, while the ASX outperformed with a -0.44% loss as the AUD weakened on disappointing GDP numbers[B]. Australia GDP expanded[/B] 0.6% in Q3 (q/q, sa), mildly undershooting expectations but after an upwardly revised 0.9% rise in Q2 (was +0.8%). GDP climbed 2.8% y/y in Q3 after a revised 1.9% growth rate in Q2. AUDUSD fell to 0.7574 from 0.7613 just ahead of the report, as the undershoot of total GDP relative to projections combined with the sluggish household consumption growth pace squashed the mild jolt of rate hike optimism seen following modestly less dovish outing from the RBA. U.K. and U.S. stock futures are also down and ongoing pressure on stock markets should keep EGBs supported and yields The calendar has the Eurozone retail PMI, with Brexit talks remaining a key focus ahead of next week’s EU summit. [B]German manufacturing orders unexpectedly rose 0.5% m/m[/B] in October. Expectations had been for a correction from the strong September number, but while the last figure was revised up to 1.2% m/m from 1.0% m/m, the October number showed a further improvement of 0.5% m/m (median -0.2%). This confirms firm survey data and expectations for another strong GDP growth rate in Q4. The German, but also the overall Eurozone industrial sector continues to fire on all cylinders with job creation accelerating, but price pressures also emerging now. Against that background Draghi could tweak the forward guidance next week somewhat to clarify that in the central scenario net asset purchases will end in September next year, even if the door to another follow on program remains theoretically open. [SIZE=4][B] [B]Main Macro Events Today[/B][/B][/SIZE] [LIST] [*][B]ADP Non-Farm Employment – Expectations –[/B] increase to 185k for November vs 235k previously. [/LIST] [LIST] [*][B]US Labor Costs (Q3)- Expectations – [/B]slip to 0.2% from 0.5%. [/LIST] [LIST] [*][B]BoC Rate Statement – Expectations – [/B] no change is expected to the 1.00% rate setting in today’s announcement. Bank-speak since the September rate increase emphasised that the Bank is in an “intense data dependent mode” and will be cautious in the removal of further stimulus. Uncertainty remains elevated, notably around the (still) ongoing Nafta negotiations. [/LIST] [LIST] [*][B]Oil Inventories – Expectations – [/B]a decline by 0.25M Barrels from last week -3.429M outcome. [/LIST] [B]Charts of the Day[/B] [IMG]https://analysis.hotforex.com/wp-content/uploads/2017/12/2017-12-06_9-23-15.gif[/IMG] [B]Support and Resistance Levels[/B] [IMG]https://analysis.hotforex.com/wp-content/uploads/2017/12/2017-12-06_9-27-10.gif[/IMG] [B]Always trade with strict risk management. Your capital is the single most important aspect of your trading business.[/B] [B]Please note that times displayed based on local time zone and are from time of writing this report.[/B] Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. [B] Andria Pichidi Market Analyst HotForex [/B] [B]Disclaimer:[/B] This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. [/QUOTE]
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