Markets have been dreadfully negative in recent weeks but we have in recent days begun a relief rally in US stocks and most FX pairs.
AUD has led higher after new election and new China friendlier party in charge. On that note china made first high level contact in 2 years.
We like AUD to rally with stocks and sentiment alone but the kicker would be if US drops...
China announced they will be lowering tariffs on a number of items come January 1st, making markets looking more festive ahead of Christmas!
Aussie and Kiwi took the headlines with a positive tone, however, Cable kept entering lower territories on the back on post-election no-deal fears! Will the Santa rally continue?
Have a look at our Elliott Wave analysis...
In today’s marketinsights video recording, I talk about SPX and DXY .
SPX takes a breather from all-time highs offering some pocket-relief to short-term bulls, however, with weekend trade headline news the rally could continue higher.
The US index looks bid too despite the medium-term bearishness as the economy performs incredibly well, supporting the dollar....
In today's #marketinsights video recording I analyse #GBPUSD and #AUDUSD
Pound Lower on:
- Highly complex proposal for a double customs system
- Nothing substantial or "workable" submitted to EU
Aussie Lower on:
- Tradewar shift, again, as tariffs part of the limited deal
- Phase one not documented, China needs confirmations
Stavros Tousios
Head of Investment...
