*Little Improvement In Education Levels Despite Increased Spending: OECD Survey

Trading 03 déc 2019 Commentaire »

Little Improvement In Education Levels Despite Increased Spending: OECD Survey


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*China Unveils Draft Of Consumption Tax Law

Trading 03 déc 2019 Commentaire »

China Unveils Draft Of Consumption Tax Law


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*WHO: Climate Risks To Human Health Growing, But Prioritized Funding Lacking

Trading 03 déc 2019 Commentaire »

WHO: Climate Risks To Human Health Growing, But Prioritized Funding Lacking


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*Japan Planning $120 Bln Economic Stimulus Package – Reuters

Trading 03 déc 2019 Commentaire »

Japan Planning $120 Bln Economic Stimulus Package - Reuters


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South Africa Economy Unexpectedly Shrinks In Q3

Trading 03 déc 2019 Commentaire »

South Africa's economy shrank in the third quarter, defying expectations for further growth, worsening the outlook for the country, preliminary data from Statistics South Africa showed on Tuesday.

Gross domestic product decreased a seasonally adjusted and annualized 0.6 percent quarter-on-quarter, after a 3.2 percent growth in the second quarter. Economists were looking for a modest 0.1 percent expansion. In the first quarter, the economy shrunk 3.1 percent.

The mining, manufacturing and transport, storage and communication industries were the three largest negative contributors to GDP growth in the third quarter.

The three largest positive contributions to GDP growth came from trade, catering and accommodation; finance, real estate and business; and general government, the agency said.

Household consumption, state spending, investments and exports increased, while changes in inventories deducted 4.7 percentage points from growth. Net expots added 3.2 percentage points.

The weak GDP data suggest South Africa may loose its investment grade rating from Moody's, the last of the top agencies to review the country's rating. In November, the South African Reserve Bank cut the growth forecast for this year to 0.5 percent from 0.6 percent and the projection for next year was lowered to 1.4 percent from 1.5 percent. The outlook for 2021 was slashed to 1.7 percent from 1.8 percent.


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Brazil Economic Growth Improves In Q3

Trading 03 déc 2019 Commentaire »

Brazil's economy expanded at a faster pace in the third quarter, data from the statistical office IBGE showed on Tuesday.

Gross domestic product grew 1.2 percent on a yearly basis, after rising 1 percent in the second quarter.

The accumulated GDP for the last four quarters also grew 1 percent, after rising 1.1 percent a quarter ago.

Quarter-on-quarter, economic growth improved to 0.6 percent from 0.5 percent. The growth was driven by a 1.3 percent rise in agriculture, 0.8 percent rise in industry and 0.4 percent expansion in services.


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*Brazil Q3 GDP Up 0.6% On Quarter

Trading 03 déc 2019 Commentaire »

Brazil Q3 GDP Up 0.6% On Quarter


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*Brazil Q3 GDP Rises 1.2% Vs. 1% In Q2

Trading 03 déc 2019 Commentaire »

Brazil Q3 GDP Rises 1.2% Vs. 1% In Q2


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Spain Unemployment Increases In November

Trading 03 déc 2019 Commentaire »

Spain's unemployment increased in November, data from the Ministry of Labor, Migration and Social Security showed on Tuesday.

The number of registered unemployed increased by 20,525 in November from the previous month. The average increase in unemployment over the last ten years was 20,477.

Nonetheless, the number of unemployed totaled 3.198 million, the lowest for the month of November since 2008.

Compared to last year, the number of people out of work decreased by 54,683 or 1.68 percent in November.

The youth unemployment, which covers persons below 25 years of age, decreased by 0.26 percent from the previous month.

Unemployment in agriculture decreased 1,715 and fell by 607 in industry. Meanwhile, unemployment in construction increased 1,738 and by 23,934 in services.


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GBPUSD weekly bullish flag

Trading 03 déc 2019 Commentaire »

GBPUSD is consolidating around 1.30 while it has formed a bullish flag pattern. A weekly close above 1.30 will be a bullish signal and this could lead to more upside in GBPUSD. Next upside target should be around 1.3170 and 1.3455.

analytics5de6824a5fd4f.png

Red lines - bullish flag pattern

Black line -resistance trend line

GBPUSD is breaking both the 38% Fibonacci retracement resistance level and the bullish flag pattern upwards. Our next target is at 1.3170. As long as price is above the black downward sloping resistance trend line, we remain bullish. Support is at 1.2770. Bulls do not want to see this level broken downwards as this will decrease the chances of reaching 1.3170.

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