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  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.05% Wall Street: 0.03% FTSE 100: -0.18% Germany 30: -0.56% France 40: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/iMKNuZrELx
  • Though the Dow is holding up, the typical charge-leader Nasdaq has lost traction. Here is the Nasdaq-Dow ratio overlaid with my FAANG index is green: https://t.co/1FEUwyAc2Y
  • Offshore Yuan reacts against USD, as news of U.S. sanctions being considered on China over Hong Kong crosses the wires $USDCNH https://t.co/DrKYlfWtAu
  • US considers placing sanctions on Chinese officials and firms over Hong Kong - BBG
  • $EURUSD pushes to highest level since May 21 as risk aversion pulls back https://t.co/QXKGPiMzpg
  • #Dow Jones price action has gained about 3% so far this month as coronavirus vaccine hope and global stimulus efforts facilitate an extended rebound in stocks. Get your #Dow market update from @RichDvorakFX here: https://t.co/cvX3GzsC9X https://t.co/2JqlTrWAKl
  • US Treasury Yields: 2-Year: 0.178% 3-Year: 0.223% 5-Year: 0.353% 7-Year: 0.535% 10-Year: 0.700% 30-Year: 1.439% $TNX
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.05% Oil - US Crude: -0.07% Gold: -0.85% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/NMZV03P1DY
  • A close below the low end of the aforementioned trading zone reflects a stronger bearish momentum and may send USDCAD towards 1.3511. Get your $USDCAD technical analysis from @malkudsi here: https://t.co/NnyNajRjE9 https://t.co/q1rU9eSVe3
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in US 500 are at opposite extremes with 74.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2zuDQFrljo
Stock Market Outlook: Braced for Brexit Storm

Stock Market Outlook: Braced for Brexit Storm

2018-12-07 17:00:00
Justin McQueen, Analyst

Equity Analysis and News

  • FTSE 100 | Eyes on “Meaningful Vote”
  • DAX | Little Signs of Bearish Momentum Easing

FTSE 100 | Eyes on “Meaningful Vote”

As the FTSE 100 registers its largest weekly decline in 2-months, expect another volatile week for UK assets. Eyes are firmly on the “Meaningful vote” which is set for Tuesday. As it stands, the government are divided on whether to vote in favour of PM May’s deal, with expectations firmly suggesting that the deal will be voted down, which could lead to several outcomes (see here). The FTSE 100 may yet again print 2yr lows.

FTSE 100 Price Chart: Daily Time Frame (Sep 2015 – Dec 2018)

Stock Market Outlook: Braced for Brexit Storm

DAX | Little Signs of Bearish Momentum Easing

2018 has so far been a torrid year for the DAX and with little signs of the bearish momentum easing, it looks set to continue. The evident slowdown in the Eurozone, alongside the uncertainties surrounding Italy and trade wars keeps the bearish outlook intact. Support is situated at 10800-30, whereby a break below could see losses exacerbated. Focus will be on the ECB, where bulls will be hoping for a dovish bias in light of the increasing negative sentiment, to keep the DAX afloat.

DAX Price Chart: Daily Time Frame (Apr 2016 – Dec 2018)

Stock Market Outlook: Braced for Brexit Storm

Recent ECB Commentary




Mario Draghi


Data since September has been weaker than expected, while domestic demand and wages support view that inflation will reach target. (Nov 26th)

De Guindos


Eurozone economy continues to grow (Nov 28th)

Peter Praet

Chief Economist

Growth risks are balanced, adds that recent developments indicate some loss of growth momentum. (Nov 26th)

Philip Lane


Important not to be overly dramatic about EZ growth slowdown (Nov 28th)

Ewald Nowotny


Low rates for a long time may impair stability (Nov 28th)

Francois Villeroy


Global economic crisis risks have become very dangerous (Nov 28th)


Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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