Here are the top things you need to be aware of, prior to your trading in the US markets on Friday, December 14:
1. Growth worries and political risks drag down equities
Yields are dropping on risk-off flows into the weekend as growth worries and political risks drag down equities. Stock markets fret about the outlook for world growth and the impact of geopolitical tensions, as the round of weaker than anticipated data out of China, the slump in Eurozone PMI readings and the Brexit risks added to the general revival of global growth concerns.
2. WTI stalls at the lows of $52.20
Crude markets are continuing a net directionless consolidation phase that’s been in place for over two weeks now, which follows a 35%-odd plunge from early October through to late November. The OPEC supply curtailment accord, announced last weekend, has helped contribute to the stabilisation.
Market Reaction: WTI crude prices are down 0.7% at $52.23, extending the correction from yesterday’s 6-day peak at $53.26.
3. US calendar has Retail Sales, Industrial Production and Business Inventories
November retail sales rising just 0.1%, with a 0.2% gain for ex-auto sales, following strong respective October gains of 0.8% and 0.7%. The retail data may be dampened by lower vehicle sales and gasoline prices at the pump. Industrial production is projected to rise 0.3% in November after a tepid 0.1% reading in October and business inventories are seen rising 0.6% in October after a 0.4% gain in September.
Market Reaction: Lower than expected Retail Sales is likely to cause much turbulence in the US Dollar.
Click here to access the HotForex Economic calendar
Andria Pichidi
Market Analyst
HotForex
Disclaimer: 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.
