{"id":159643,"date":"2019-11-12T10:02:11","date_gmt":"2019-11-12T15:02:11","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=159643"},"modified":"2019-11-12T10:02:11","modified_gmt":"2019-11-12T15:02:11","slug":"risk-sentiment-rising-amid-mixed-trade-signals","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/11\/risk-sentiment-rising-amid-mixed-trade-signals\/","title":{"rendered":"Risk Sentiment Rising Amid Mixed Trade Signals"},"content":{"rendered":"
November 12, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Risk sentiment is rising as investors decipher the mixed signals on the US-China trade war. The US dollar index fell for the first time in six days while equity markets were poised for a decline after four consecutive sessions.<\/p>\n

The trade war has become the major narrative behind the markets.<\/p>\n

Euro Catches a Bid as Dollar Weakens<\/strong><\/h2>\n

The declines in the US dollar index saw the euro rising modestly on Monday, as economic data from the eurozone was sparse.<\/p>\n

Germany\u2019s wholesale prices fell 0.1% on the month missing estimates of a 0.2% increase. This marks a decline from 0.4% previously. Italy\u2019s industrial production also fell by 0.4%, in line with expectations.<\/p>\n

EURUSD Could be Testing for Resistance<\/strong><\/h3>\n

The current reversal in the currency pair comes following the declines. However, prices turned around, just shy of the lower support area at the 1.1000 region.<\/p>

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If the current bullish momentum holds, then the EURUSD should be testing the price level of 1.1075 \u2013 1.1062. If this level holds as resistance then the declines could resume.<\/p>\n

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Sterling Jumps as Odds of Johnson Staying Rise<\/strong><\/h2>\n

The pound sterling got a boost after UK bookmakers raised the odds that PM Johnson will continue on post-election.<\/p>\n

This comes after the Brexit Party said that it will not contest the seats that are currently held by the Conservative party. The move is aimed to give Johnson\u2019s party a majority in the parliament.<\/p>\n

The UK will be heading to the polls on December 12th<\/sup>.<\/p>\n

GBPUSD Back at Resistance<\/strong><\/h3>\n

Cable managed to rally, but the gains stalled near the price level of 1.2856. If this level holds, then it would mark a retest of the previously held support area.<\/p>\n

A decline off this level will see the bearish trend resuming. The lower support at 1.2582 remains key to the downside.<\/p>\n

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Oil Markets on the Backfoot as Trade Euphoria Clears<\/strong><\/h2>\n

Crude oil prices were on the backfoot following the weekend\u00a0comments from President Trump<\/a>. The President dismissed reports of an early rollback of tariffs as reported last week.<\/p>\n

However, Trump said that the trade talks were progressing smoothly. The initial euphoria of progress on the trade talks looks to be putting pressure on oil prices as well.<\/p>\n

WTI Crude Oil Consolidating Near Current Highs<\/strong><\/h3>\n

Oil prices are pulling back from the intraday lows. However, the gains look to be stuck near the resistance area of 57.87 \u2013 57.64.<\/p>\n

A reversal off the resistance level could trigger short term declines. The minor support at 56.28 will be key in the near term. A close below this level will, however, see oil prices retreating again.<\/p>\n

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By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Risk sentiment is rising as investors decipher the mixed signals on the US-China trade war. The US dollar index fell for the first time in six days while equity markets were poised for a decline after four consecutive sessions. The trade war has become the major narrative behind the markets. Euro Catches a […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-159643","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/159643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=159643"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/159643\/revisions"}],"predecessor-version":[{"id":159657,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/159643\/revisions\/159657"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=159643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=159643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=159643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}