The economic impact of the intensifying trade war between Washington and Beijing appeared to deepen last month with factory activity and export orders weakening across Asia, but analysts warned the worst was yet to come. In a sign conditions for exporters and factories were deteriorating, manufacturing surveys showed marginal growth in China, a slowdown in […]
Yesterday, sterling rose sharply against the USD after the Brexit minister said that a deal with the EU will likely be ready by November 21st. This was a broad pledge that he was forced to take back. This is because of the complexity of the ongoing Brexit negotiations. In October, the hope was that the […]
In November, the following will be the main factors that will likely move the market. USA Mid-Term Elections Next week, United States will go through the mid-term elections. This will be an election to elect the congressmen and senators. Presently, the republicans hold the senate and the house. Investors will watch the race closely because […]
The current week will wrap up with the most important monthly release out of the US, namely the country’s jobs report due at 1230 GMT. Wage growth is anticipated to again attract the lion’s share of attention out of October’s report. A beat on this front will theoretically more conclusively put on the table a […]
Employment numbers will be watched out of Canada on Friday at 12:30 GMT as investors are on the lookout for fresh rate clues after the Bank of Canada said it could move quicker in removing monetary stimulus. The BoC’s increased confidence on the rate outlook hasn’t transpired to a stronger Canadian dollar, however, as market […]
Overview: The GBP/USD pair fell from the level of 1.2979 towards 1.2902 then it set around 1.2829. Right now, the price is set at 1.2913. It should be noted that volatility is very high for that the GBP/USD pair is still moving between 1.2979 and 1.2902 in coming hours. Furthermore, the price has been set […]
Overview: The USD/CAD pair continues to move upwards from the level of 1.3053. This week, the pair rose from the level of 1.3053 (the level of 1.3053 coincides with a ratio of 61.8% Fibonacci retracement) to a top around 1.3140. Today, the first support level is seen at 1.3053 followed by 1.3003, while daily resistance […]
Good data on the US labor market was supported on Wednesday by the US dollar, which strengthened against a number of world currencies. Signs of continued employment growth raise the likelihood of further increases in interest rates by the Federal Reserve next year. According to ADP, the number of jobs in the US private sector […]
To open long positions on the GBP / USD pair, you need: Regular rumors on Brexit supported the pound today in the Asian session. Now, it is expected that an agreement will be reached by November 21. As for purchases, it is best to wait for the decision of the Bank of England on interest […]
Here are the latest developments in global markets: FOREX: The dollar index is down by a little more than 0.4% on Thursday, looking set to post its first daily decline in four sessions. The British pound, and to a lesser extent the euro, benefited from reports that UK financial services firms will continue to have access […]
To open long positions on EUR / USD pair, you need: The European currency recovered slightly after the update of the next monthly lows after the publication of yesterday’s statistics for the eurozone. While the trade is conducted above the intermediate support of 1.1330, the demand for the euro will remain and both the breakthrough […]
American markets added on Wednesday, finishing the last trading session of October by a growth of 1.1% on S&P500 and 1.0% of DJI. However, October became the worst in the last 10 years, causing a decline of major U.S. indices by more than 7%. On Thursday morning, the markets show mixed dynamics. Futures on S&P500 […]
USDJPY is losing some ground after the sharp jump in the previous days towards a three-week high of 113.40, reached on Wednesday. It’s noteworthy that the price successfully surpassed the 20- and 40-simple moving averages (SMAs) but created a bearish crossover in the daily timeframe, indicating a possible negative retracement. Zooming into the technical indicators, the RSI indicator […]
On Thursday, the 1st of November, the event of the day is the Bank of England interest rate decision, but the global investors should keep an eye on the other data, like CPI data from Switzerland, PMI Manufacturing data from the UK, Unemployment Claims, Continuing Claims and ISM Manufacturing data from the US. There is […]
EUR/JPY is currently seeing a relief rally towards at least 130.20 and possibly even closer to the 61.8% corrective target of wave A near 130.65. Once this counter rally is complete renewed downside pressure towards at least 124.14. For now we will concentrate on the relief rally in wave B, which we expect will continue […]
The environment in the markets was marked by a strong recovery in global stock indices and, in general, by the strengthening of the US dollar thanks to, on the one hand, the strong US employment statistics from ADP, and on the other, the upward dynamics of the US technological sector’s shares indices and markedly improved […]
EUR / USD As we expected in yesterday’s forecast, retail sales in Germany in September were worse than the forecast. The indicator showed 0.1% against the expected 0.5%. The consumer price index in the euro area rose to an expected 2.2% from 2.1% in September, the unemployment rate in Italy increased from 9.8% to 10.1%, […]
GBP / USD Yesterday, the British pound rose at the moment by 124 points, having to retest the trend nested line of the price channel on the daily chart. Investors were quite nervously preparing at today’s meeting of the Bank of England and just as nervously perceived the words of the British Brexit negotiator Dominic […]
AUD / USD At the cost of great efforts, the Australian dollar has emerged above the trend line of a downward channel. Even the Marlin oscillator signal line on the daily chart is in the growth zone. On the four-hour chart, Kruzenshtern was fixed above the indicator lines of balance. The price reversal from these […]
Morning Report: 07.00 London This morning, dollar interest is waning despite ADP Payrolls coming in above estimates yesterday. This comes as the S&P 500 recovered by 1% last night amid a generate return to risk appetite bias. Even the USD/JPY is on the back foot despite overall yen weakness. The Australian dollar is the big […]
The euro-dollar pair is slowly slipping to annual minima, which is towards the base of the 13th figure. Data on the growth of European inflation did not help the single currency, although the figure showed a projected increase. Thus, the consumer price index rose to 2.1%, while the base index recovered to 1.1%. But the […]
4 hour timeframe The amplitude of the last 5 days (high-low): 98p – 77p – 85p – 55p – 47p. Average amplitude for the last 5 days: 72p (74p). Nothing unexpected happened on the EUR/USD pair on Tuesday, October 30th. Having repulsed several times from the critical line of the Kijun-Sen, the pair resumed, quite […]
British parliamentarians cannot sit in silence, and they constantly need to express their new brilliant thoughts and ideas. Yesterday the political opponents of Theresa May announced that they intend to pass a law that would make a free trade even just temporarily between the European Union and Northern Ireland illegal. It is necessary to clarify […]
Ripple’s XRP was among the best performing cryptocurrencies in September. But the bullish sentiment hasn’t sustained well this month. The XRP-to-USD pair has recorded a 24 percent monthly loss as October heads to a close, falling from 0.5831-fiat to 0.4400-fiat. The coin got sold off to the tune of over $7 billion, despite being surrounded […]
Technical outlook: A 4H chart has been presented here to give a medium-term trend outlook for Gold. The metal is seen to be trading between $1,212/13 levels for now and should find support anywhere near this price. Please note that Gold is trading very close to fibonacci 50% of recent rally and a bullish reversal […]
If, in the first half of the day, the buyers of the European currency kept at least some hope of recovering the EUR / USD pair, then the inflation report put everything in its place, returning risky assets to a further fall against the US dollar. Inflation data in France and Italy, albeit preliminary, hurt […]
The October meeting of the Bank of Japan was expected to be “passing”. The regulator left the parameters of monetary policy in its previous form and voiced familiar rhetoric. However, the tone of Haruhiko Kuroda’s speeches from meeting to meeting becomes more “dovish”, which means that in the next two years, the Japanese Central Bank […]
Mark Leonard, director of the European Council on Foreign Relations, believes that the Old World should give a decisive rebuff to America’s one-sided policy and the tyranny of the dollar. “The White House received the so-called” secondary (indirect) sanctions from the predecessors, through which the US can isolate undesirable regimes from the global economy. However, […]
Unable to consolidate above $ 1240 per ounce, gold sharply pressed the brake and returned to the upper boundary of the medium-term consolidation range of $ 1185-1215. The positions of the US dollar remain strong, while some recovery in US stock indexes and rising US Treasury bond yields suggest that precious metal fans are too […]
4-hour timeframe Technical details: The senior linear regression channel: direction – up. The younger linear regression channel: direction – down. Moving average (20; smoothed) – down. CCI: -105.2285 The currency pair GBP / USD on the third trading day of the week completed the Murray level of “0/8” – 1.2695 and started the next minimal […]
