World stocks score longest winning run of 2018 ahead of Fed (news: 08/11/18)

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Alpari Market Review
Alpari Market Review
Today’s press

World stocks score longest winning run of 2018 ahead of Fed

LONDON (Reuters) – World stocks scored an eighth straight session of gains and their longest winning streak of the year on Thursday, as reassuring trade data from China kept the previous day’s post-U.S. mid-terms risk rally rolling.

UK economic growth tipped to be slowest in Europe next year

The UK will sink to the bottom of the European economic growth league next year to join Italy as the slowest-growing economy in the EU, before falling further the year after to anchor the table alone, according to European commission forecasts.

Italy Pushes Back After EU Says Its Budget Plans Won’t Fly

Italy was quick to rebuff the European Commission’s latest criticism of its budget, accusing it of sloppy and outdated analysis.

Dollar extends recovery on post-election relief

LONDON (Reuters) – The dollar rose on Thursday, pulling further away from 2-1/2 week lows hit on Wednesday, as the market breathed a sigh of relief after the U.S. midterm elections and as investors turned their attention towards the Federal Reserve policy meeting.

U.S. Jobless Claims Fall in Line with Expectations Last Week

Investing.com – The number of people who filed for unemployment assistance in the U.S. fell broadly in line with market expectations last week, remaining in territory consistent with a strengthening labor market.

Recovery in Doubt as Bitcoin Price Drops Out of Bullish Channel

Bitcoin is painting a less bullish picture than 24 hours ago, following a drop out of an ascending price channel.

Venezuela to Present Petro to Intergovernmental Group OPEC as Unit of Account for Oil

Venezuela will present its state-backed cryptocurrency Petro as a unit of account for crude oil trading to the Organization of the Petroleum Exporting Countries (OPEC) in 2019, the country’s oil company PDVSA reports on its Twitter Nov. 7.

Next trading day’s important events

03:30 (GMT+3)  AU – RBA Monetary Policy Statement

12:30 (GMT+3)  UK – Gross Domestic Product (QoQ) (Q3)

Forex quotes:

USDJPY: 113.65

EURUSD: 1.1433

Indices:

S&P 500: 2808.70

NASDAQ: 7549.70

 

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