The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
News to trade on December 13
- According to today’s news, Chinese authorities invited the US for further trade negotiations. They also said to plan more US soybean purchases today. As a result, AUD/USD moved higher. More positive news concerning the trade negotiations between the US and Сhina will push the pair towards the resistance at 0.7260. If the uncertainties increase, the pair will fall towards the support at 0.7182 (50-day MA).
- The price for NZD/USD also showed uncertainty. If the risk-on sentiment increases, it will rise towards the resistance at 0.6890 and probably retest it. Otherwise, it will fall towards the support at 0.6738.
- Today the economic calendar is highlighted by the ECB monetary policy statement at 14:45 MT time. The European central bank is anticipated to end its quantitative easing policy soon. The comments by the ECB president Mario Draghi may support the EUR. EUR/USD was supported yesterday after the news on the budget cut of the Italian budget deficit and rose to the central pivot at 1.1374. The Italian government has agreed to cut its budget deficit to 2.04% compared to 2.40% previously. For now, it anticipates the approval by the European Commission. For now, it has already crossed this level, heading towards the resistance at 1.1437. If the ECB provides hawkish comments for the euro, it will stick near this level. Otherwise, the pair will fall to the support at 1.1323.
- Yesterday, Theresa May won her confidence vote. Today she will meet with the European leaders to find a solution on Brexit. That is why the headlines may bring the volatility to the cable. Bulls pushed the pair higher, the pair crossed the 1.2560 level and tested the resistance at 1.2643. If today’s negotiations turn out to be successful for May, the pair will stick above the 1.2643 level. The next resistance is placed at 1.2740. In case of negative news, it will fall towards the support at 1.2560. The next support lies at 1.2462.
- Oil continues to face the uncertainties over the OPEC output cut. In case of negative news, the price for WTI will fall towards the support at $49.93. Otherwise, if the OPEC+ confirms its actions, it will rise towards the resistance at $52.23.
- As for Brent, the bearish pressure will pull the crude’s price downwards to the support at $58.6. Positive news will pull it higher. The first resistance lies at $61.15.
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.