Money Flows before the start of European trade

11.12.2018 / 07:39

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It is the turn of the Europeans to embark on commercial adventures as they have to catch up with the moods of the US and Asia, and they were not really pink. Yesterday, we witnessed another sale of the US markets, but then they bounced off their backs. In Asia, they also started with dips, which remained until the middle of the trading session, but then diverged as much of Asia ended in green. For Europe, we also expect mixed moods at the start of trade.

Indicative levels of opening of the European indices:

DAX: -11 points

FTSE: +8 points

CAC: +3 points

What will the moods move today from London to Frankfurt and Paris? Brexit ...

Yesterday Teresa May made a tactical retreat for winning more time by canceling the vote for today that had to take place in Parliament and to decide whether or not the proposed terms of the May agreement were accepted. The pounds suffered strong negative consequences as from its peak yesterday fell 230 pips and ended under the bottom of August.

In addition to Brexit, the sentiment will also be affected by the tensions of the trade war, although things are currently stagnating at the time of the talks. Some will call it "lull before storm". Of course, the fear of a slowdown in the global economy will not be a minor factor in the commercial decisions of investors and traders. The comparative calm on the trading front, the control of oil prices after OPEC's decision can help the bulls get a little bit of air. They will have time until Thursday when we expect a new piece of news alongside Brexit. Then a meeting is scheduled between the European leaders and Teresa May, where she will seek support and security in order to win the Parliament on her side.

Trader Martin Nikolov

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Money Flows before the start of European trade

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