As we are about to enter the final quarter of 2019 and after months of sideways trading, are markets finally ready for a shakeup? Read our Q4 global market outlook to find out.
The European Central Bank, the ECB, just cut interest rates and pledged to keep its quantitative easing program active until inflation picks up. The Federal Reserve has also reduced interest rates amid a slowing economy.
There are some clear winners in the current climate of slowing economic growth and trade wars: gold prices have had a great last few months, and our Asia Pacific Analyst, Martin Lam, suggests higher prices in the fourth quarter.
Other clear trends are the weakness in the Australia Dollar and the strength in the Japanese Yen. The currency pairs’ trends and the fundamental outlook is outlined by me, and I anticipate more of the same going forward e.g., global economic slowdown, suppressing the AUDUSD pairs and rate cuts in Australia.
Offering a more upbeat outlook is ATFX’s Middle-Eastern based Head of Market Research, Rami Abouzaid. He notes that everyone is focused on trade wars, however, it has not materially hurt the US stock markets, such as the S&P 500 which is not far away from reaching its all-time high.
Topics covered in our Q4 global market outlook:
EURUSD Could Drift to 1.08 by the End of 2019
GBPUSD Set to Remain Volatile, And Could Reach 1.1631
USDJPY Could Slide to 99.60 as Neither the US or China is Ready to Back Down
Australian Dollar Could Drift to the 2009 Low at 0.6250
Gold Prices Could Reach New Multi-Year Highs
Oil Prices Under Pressure as Global Growth Slows Amid Oil Oversupply
Stock Markets Are Not Yet at Risk
Bitcoin holds the 9000 Level and Forms a Bullish pattern
Ethereum Should Trade in the $110 to $130 Interval