Kamil Zubelewicz, a Polish rate-setter, said should Monetary Policy Council or MPC start discussions on inflation target, he will support cutting it from the current level of 2.5%. He told Rzeczpospolita daily, “If such a discussion arises I will opt for diminishing the inflation target”. Zubelewicz added that if MPC slashes rates now, it might […]
One of the largest bread makers, Mexico’s Bimbo, said company’s net profit jumped 57.6% to 1.37 billion pesos ($79.35 billion) in this year’s first quarter, compared to last year’s same period. In January, Bimbo said in a statement that sales in January-March jumped 13.2% to 56.64 billion pesos ($3.28 billion) due to growth in Mexico […]
The first-quarter profit of Banco Santander SA plummeted as lending and fees revenue fell. Net income declined to 1.63 billion euros ($1.84 billion) from 1.72 billion euros last year, the bank said Wednesday. Shares of Santander, the biggest Spanish bank, have plummeted 0.7% this year, after falling 35% last year when the bank tapped shareholders […]
The US House of Representatives is expected to approve a legislation against stealing corporate trade secrets, including computer methods, on Wednesday. Called Defend Trade Secrets Act, President Barack Obama has been supporting the bill that would enable corporations to lodge a lawsuit for damages relative to trade secrets theft. Stealing intellectual property is awaited to […]
EUR/USD: The EUR/USD is still slightly higher in the context of a downtrend. The downtrend is still a valid thing, therefore the upward bounce could be seen as a short-selling opportunity, provided the price does not go above the resistance line at 1.1400. The bears might target the support line at 1.1200 this week. USD/CHF: […]
Wave summary: We are still waiting for a break above important resistance at 1.6490 to confirm that an important bottom has been seen at 1.6062. A break above the 1.6490 resistance will call for much more upside towards 1.6830 at first, but in the long term even higher highs near 1.8420 and above should be […]
Wave summary: We continue to look for more upside pressure towards 127.77 in red wave iii. In the long term, much higher highs are expected as the large correction from 149.55 most likely ended with the test of 121.69 and a new impulsive rally to above 149.55 is now expected. Short-term support is seen at […]
When the European market opens, some economic news will be released such as the German 30-y Bond Auction, Private Loans y/y, M3 Money Supply y/y, GfK German Consumer Climate, and German Import Prices m/m. The US will release economic data too such as the Federal Funds Rate, FOMC Statement, Crude Oil Inventories, Pending Home Sales […]
In Asia, Japan will release the All Industries Activity m/m and the US will release some economic data such as the Federal Funds Rate, FOMC Statement, Crude Oil Inventories, Pending Home Sales m/m, Goods Trade Balance. So there is a probability the USD/JPY will move with medium to high volatility during this day. TODAY’S TECHNICAL […]
USDX has been doing strong declines from the April 22th highs, and now we’re seeing a strong rebound above the support level of 94.26. The 200 SMA is currently acting as dynamic resistance and maybe we can expect further downside in coming hours, as the overall structure remains bearish, but in a general picture it’s […]
The H1 chart structure is still bullish, but be cautious when doing intraday trading on the Cable, as it scopes to do another rally toward the 1.4714 level. However, a pullback is expected to reach the support zone of 1.4495, in case the bearish scenario gets some strength in coming hours. The 200 SMA is […]
The International Monetary Fund emphasized debt-to-equity swaps or securitization of non-performing loans could mitigate China’s debt obligation. But the organization reiterated such moves are only applicable if companies are willing to restructure. The IMF welcomed recent improvements in the Asian country as authorities said they are concentrating on setting excess corporate debt and its effect […]
Asian stocks were muted on Wednesday, as traders remained guarded before the meetings of Bank of Japan and Federal Reserve. There are some speculation the BOJ could bolster its stimulus program, which entails negative rates on some deposits at the central bank. Although awaited to keep interest rates unchanged, the Fed is expected to take […]
A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart). A significant bearish rejection was observed around 1.3450. Hence another consolidation range was established from 1.3450 down to 1.2800. On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation […]
On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. The 0.6550 level was broken above a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. The price zone of 0.6750-0.6840 constituted a significant […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, as the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), the next demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection […]
EUR/USD is trending upwards where new higher highs and higher lows are printed. There was a massive resistance area between 1.1000 and 1.1060 that was successfully penetrated. I’ve applied the Fibonacci retracement indicator to the corrective wave down where (1.1060) was rejected after the breakout. Price broke above the R1 (1.1320) resistance which is the […]
As per my previous analysis, NZD/CAD continued moving lower breaking below the 0.8730 support. After the breakout, price corrected down and retested the R1 resistance (previous support) level. This correction might present more sell opportunities around R1, therefore consider holding your short positions or getting into a short trade while the price is near R1 […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 and 1.2000 where historical bottoms had been previously set in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level of 1.0570, which had been previously […]
BP Plc said first quarter loss slid to $485 million as slumping oil prices greatly impacted their operations. Adjusted profit was $532 million from $2.58 billion from the previous year. Loss amounted to $56.4 billion, taking a $917 million cost over the 2010 Gulf of Mexico oil spill. Its refining and trading unit posted $1.8 […]
Seeking to address inhibitions over its bookkeeping, Toshiba Corp. announced it recorded an impairment cost of ¥260 billion ($2.3 billion) for the previous financial year on Westinghouse. In 2006, the Japanese firm acquired the US nuclear business for $5.4 billion. Amid a degeneration since the Fukushima disaster in 2011, the company refused to lower the […]
US stock index futures climbed as investors are expecting additional results from companies and Federal Reserve’s monetary policy decision this week. Apple Inc., AT&T Inc., Procter & Gamble Co., and other major companies are scheduled to release their respective earnings report. Contracts on the Standard & Poor’s 500 index for June maturity settled at 2,088.5, […]
European stocks escalated for the first time in four days, as BP Plc and Orange SA reported upbeat results. BP recorded underlying profits before projections, with Chief Executive Bob Dudley saying the oil firm is drawing near to rebalancing cash flows towards the end of 2016. Its shares rose 2.9%. Orange reported revenue increased 3.5% […]
It’s that time of the month again – NFP time! The Non-Farm Payroll figure – a measure of employment numbers in the U.S. – is being released Friday, May 6th, and once again we’d like to invite you to participate in our @eToroExperience prediction promotion. In order to participate, all you have to do is login and leave […]
For the first time in seven days, Treasuries escalated before Federal Reserve and Bank of Japan meetings this week. Japan’s Nikkei ended at 17,353.28, down 0.5%. South Korea’s Kospi settled at 2,019.63, up 0.3%. The Shanghai Composite Index traded at 2,964.70, down 0.6%. Hong Kong’s Hang Seng index closed at 21,407.27, up 0.5%. Yields on […]
In the United Kingdom, the number of mortgage approvals declined in March, aggravating anxieties encompassing the housing market, as the referendum on the country’s EU membership draws near. BBA reported mortgage approvals dropped to 45,096 last month from 45,646 in February, below the 46,500 projected by economists. The banking trade entity said total gross mortgage […]
Overview: The NZD/USD pair dropped sharply from the level of 0.7050 towards 0.6840. Now, the price is set at 0.6884. On the H1 chart, the resistance of the NZD/USD pair is seen at the level of 0.6907 and 0.6948. It should be noted that volatility is very low for that the NZD/USD pair is still […]
The German parliament plans to invite ECB President Mario Draghi to explain and elaborate on the central bank’s low interest rates, Reuters reported on Tuesday citing sources from within the coalition government. Germany has been antagonistic towards the ECB since Draghi implemented unconventional monetary policies to reach inflation target of almost 2 percent. Last week, […]
BHS, a once-regal UK department store, confirmed that it has entered administration with £1 billion debt and pension deficit of £571 million. The company failed to raise its target £60 million emergency fund for workers’ salaries and rents. Wages are only covered until the end of the month. BHS employs about 11,000 people throughout its […]
Ironwood Pharmaceuticals, a US-based biotechnology company, will buy the exclusive US rights of Zurampic from AstraZeneca Plc, a British drugmaker. AstraZeneca will receive an upfront payment of $100 million from the US firm. Ironwood clarified in a statement that they did not need any outside financing for the deal. AstraZeneca will also receive single-digit royalties […]
