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Will investors who missed the last stock market rally higher have to chase prices higher? Or will a price dip offer new opportunities?

Jul 11, 2019 (13:30)

by John Knobel

Global Market Insights:

Key US Inflation Report Beats Forecast; US Job Market Remains Strong…

US Core Consumer Price Index (CPI) beats forecast; US Dollar tics higher; US SP500 and Dow Jones stock index futures tic lower; precious metals reverse EU session gains and tic lower;
Positive US economic data may be bad news for stocks and commodities in the very short term; US jobs market remains strong; the weekly jobless claims report came in better than forecast; positive data adds downside risk that the US Fed may not have to be as aggressive with pending interest rate cuts;
European economies may be getting a boost; the European Central Bank (ECB) Council agreed to prepare for adding further economic stimulus according to the latest release of the ECB Account of Monetary Policy Meeting;

Tomorrow Economic Events

Fed Monetary Policy Report;
US Producer Price Index (PPI);

Upcoming Earnings

Goldman Sachs reports on July 16^th (Tuesday); forecasted to earn $5.212 per share (EPS) on $9.048.375 billion in sales;

Charts

US Dow Jones; SP500 and NASDAQ attempting to break out higher to new all time historic highs;

Platinum prices in weak uptrend; upside price momentum starting to increase;

German DAX holding above support; potential for upside surprise move; downside risk seen limited to 12,340 from current price 14,460;

GBP/USD potential upside break-out as price bounces off recent lows;

EUR/USD remains in a multi-month weak uptrend;

Crude Oil (CL) facing resistance; upside momentum slowing; price looking for next catalyst;

Source: FXGM / Bloomberg

The original content of this Market Update is done in the English language. Any other language translation is provided for the sake of convenience. In case of any inconsistencies between the original English version and any other language, the original English version shall prevail.

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