Global macro overview for 16/08/2016
August 16, 2016 11:17 amVideo
Latest News
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
- What’s next for markets amid Israel-Iran tensions? – Special Report April 16, 2024
- Technical Analysis – GBPUSD pulls back into the negative zone April 16, 2024
- Geopolitical developments and stronger US data push volatility to new highs across the board – Volatility Watch April 16, 2024
- Technical Analysis – AUDUSD breaks the lower bound of a sideways range April 16, 2024
- Video market update for April 16, 2024 April 16, 2024
- Hot forecast for EUR/USD on April 16, 2024 April 16, 2024
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
Global macro overview for 16/08/2016:
The Japanese Nominal Gross Domestic Product slowed down in April-June period according to the data released yesterday. On a quarterly basis, GDP advanced 0.2%, which was in line with expectations, but way below the 0.8% q/q increase for the last three months of the year. On an annualized basis, GDP advanced again only 0.2%, slowing down dramatically from 2.0%. Moreover, consumer demand, which accounts for for nearly two-thirds of business activity, added only 0.2%. The main reason behind the poor data was weak exports and capital expenditure. In conclusion, this data put again more pressure on premier Shinzo Abe to add or increase the stimulus program in order to bolster bigger economic growth.
Let’s now take a look at the USD/JPY technical picture in the daily time frame. The bear camp is clearly heading to test the important daily technical support at the level of 99.04 and the bearish outlook is being confirmed by the fact, that the price is trading below 55, 100, and 200 DMA. The next resistance is seen at the level of 100.65.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: