{"id":165191,"date":"2020-02-19T10:30:52","date_gmt":"2020-02-19T15:30:52","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=165191"},"modified":"2020-02-19T10:06:57","modified_gmt":"2020-02-19T15:06:57","slug":"equities-fall-for-the-3rd-consecutive-day","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/02\/equities-fall-for-the-3rd-consecutive-day\/","title":{"rendered":"Equities Fall For The 3rd Consecutive Day"},"content":{"rendered":"
February 19, 2020<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Equity markets continue to trade weaker as Apple Inc, a Dow Jones listed company issued caution on its forward guidance. All major indices fell for the third day as a result.<\/p>\n

This is largely attributed to the fact that many of Apple Inc\u2019s suppliers are based in China.<\/p>\n

Many other companies are likely to follow suit amid concerns of slower demand from the world\u2019s second-largest economy. Economic data remains sparse. Consequently, investor concerns remain somewhat alleviated.<\/p>\n

German ZEW Economic Sentiment Falls in February<\/strong><\/h2>\n

The economic sentiment index for Germany fell in February to 8.7, which is reflecting falling investor confidence. The index fell from 26.7 in January.<\/p>\n

The report comes a day after the Bundesbank said that growth in the first quarter of 2020 could be sluggish. The decline is\u00a0a result of the virus outbreak<\/a>\u00a0concerns which will impact an already fragile economic recovery.<\/p>

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EURUSD Slips to New Lows<\/strong><\/h3>\n

The common currency slipped to a new low on Tuesday. The declines come as the bearish momentum is holding steady amid weak economic reports from the eurozone.<\/p>\n

The unfilled gap from April 2017 at 1.0724 could be the downside target if we do not get to see any correction to the declines. To the upside, price action will be struggling near the resistance level.<\/p>\n

A clear breakout above 1.0839 will confirm any corrective move to the downtrend.<\/p>\n

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NY Manufacturing Index Rises in February<\/strong><\/h2>\n

The Empire State Manufacturing index from the Federal Reserve for February beat estimates. Activity rose to 12.9 in February, up from 4.8 in January. The data hinted at a slight increase in regional manufacturing activity.<\/p>\n

Economists initially forecast that the index would rose to 5.0. The data is consistent with the modest pickup in manufacturing activity, especially in January.<\/p>\n

GBPUSD Consolidation Could See an Upside Breakout<\/strong><\/h3>\n

Price action in the GBPUSD remains firmly biased to the upside as the support area of 1.2960 holds for now. This comes as the Stochastics oscillator is recovering off the oversold levels which could indicate that the momentum could hold.<\/p>\n

A breakout above the previous pivot highs of 1.3070 will push the GBPUSD to test the falling trend line.<\/p>\n

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Gold Prices Steady as Risk Assets Fall<\/strong><\/h2>\n

The precious metal is maintaining the bullish momentum as investor appetite for risky assets is falling. Therefore, further upside can be expected from gold as investors bid up the demand for the safe-haven asset.<\/p>\n

As gold prices resume the uptrend, we expect gold to reach for new highs. On an intraday basis, the precious metal gained over 1.5%.<\/p>\n

XAUUSD at New Yearly Highs<\/strong><\/h3>\n

XAUUSD broke past the 1600 key level during the intraday session. Therefore, the bullish momentum is likely to hold as the next upside toward 1640 is likely. Meanwhile, any retracement in the near term will see a retest of the 1594 handle. As a result, if support forms here, the upside gains will be validated.<\/p>\n

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

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

By Orbex Equity markets continue to trade weaker as Apple Inc, a Dow Jones listed company issued caution on its forward guidance. All major indices fell for the third day as a result. This is largely attributed to the fact that many of Apple Inc\u2019s suppliers are based in China. Many other companies are likely […]<\/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-165191","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165191","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=165191"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165191\/revisions"}],"predecessor-version":[{"id":165209,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165191\/revisions\/165209"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=165191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=165191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=165191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}