Forex Marketz Daily Forex News – Fully Markets Update
Good morning and welcome to CupO’Forex, this is David Frank with your daily video analysis for Thursday, November 13.
The slow economic news week continues. Markets have been pushing higher as they have been following the lead out of the US. Overnight US markets closed a bit lower on low trading volume as utility stocks took a beating. This morning Asian markets are mixed on data out of China. Markets in the US traded near record highs as investors are thinking about the slowdown in Europe and retailer earnings.
The Shanghai Composite was rather volatile as investors waited for fixed asset investment data, which ended up coming in lower than expected. That was the big data release for the day and, as usual, China’s string of economic data has been erratic.
As far as our technical analysis is concerned for today, the EUR/USD is seeing some erratic trade below 1.25, the AUD/USD is also consolidating right now and Gold continues its weakness as it is looking for direction. The weak demand for the yellow metal out of China and India is not supporting a recovery right now.
Thank you for listening and have a wonderful day trading!