European markets have opened in the red today, tracking Friday’s losses on Wall Street and after preliminary data indicated that China’s manufacturing activity dropped for a fifth consecutive month in March. With no release of major domestic economic data during the day, investors would eye Eurozone and US manufacturing PMI data for further cues. Related […]
Markets Push Higher Despite China Slowdown Morning Report: 08:30 London • This morning, financial markets are making early gains despite signs of a slowdown in China. HSBC Chinese Manufacturing PMI came in well below estimates, but stocks and commodity related currencies have shrugged this off to show some fight. […]
The US dollar clung to decline versus the euro and yen at the end of last week as investors counted on prospects for US growth against hints the Federal Reserve will escalate borrowing costs next year. Demand for the greenback was restrained prior to a private report today that economists say the proliferation in US manufacturing is […]
Asian shares surged lower on Monday, as investors were shackled by continuous upheaval in Ukraine, uncertainty on US Federal Reserve policy, and concerns on slowing growth in China. The euro climbed from a recent low versus the dollar as traders kept on recalibrating expectations around US monetary policy following Fed Chair Janet Yellen elevated the prospect of […]
Treasuries are the largest giving up government bonds in March before U.S. reports this week economists said will display new home sales were near a five-year high and orders for durable products bolster. U.S. government debt due in more than a year slide lower 0.5 percent this month, the largest decline of 26 bond markets, […]
Brent oil plunges from a one-week high in London and West Texas Intermediate dropped following a benchmark of factory production in China shrank for third consecutive months. European and US futures slipped 0.4%. A preliminary China purchasing managers’ index for March from HSBC Holdings Plc. and Markit Economics dipped 48.1. Germany, the euro zone, and the US also […]
Japanese shares rallied, led by exporters and textile and fiber firms, as the Topix index trim a two-week decline. Sony Corp. skyrocketed 3.3 percent as the yen backslide 0.3 percent versus the dollar. Toray Industries Inc., which manufactures carbon fibers, boosted 3.7 percent. Toho Zinc Co., a smelter of non-ferrous metal, soared 6.6 percent after […]
The Australian dollar prolonged its gain from last week as investors retained stakes higher than 50% chance the Reserve Bank of Australia will increase interest rates within a year as the economy strengthens. The Aussie wiped out a 0.4% decline following a private report displayed manufacturing weakened for a fifth consecutive month in China, Australia’s biggest trading partner. […]
Japan’s Nikkei share average spiked up on Monday trading action, emerging from a six-week low on the back of a tentative recovery in risk appetite, though concerns about the Japanese economic view kept advances in check. The benchmark Nikkei average rallied 1.8 percent to 14,484.06 by the midday break, after a market holiday on Friday. […]
The yen plummets versus its major counterparts before Bank of Japan Deputy Governor Kikuo Iwata speaks today in the middle of bets the BOJ will increase stimulus to ease the effect of a planned tax hike due to take action next week. Australia’s currency depreciate after China’s factory data missed economist projections. Demand for the […]
Major currencies got off to a lackluster opening on Monday trading action following a relatively tedious weekend with the dollar clenching onto most of last week’s solid advances. The dollar index .DXY settee at 80.130, slightly altered from late New York levels on Friday, but still not far off a three-week topmost mark of 80.354 […]
Chinese stocks rallied higher, led by monetary and coal firms. Advances for equities were limited as a manufacturing index surprisingly sag down. Bank of Beijing Co. bolstered 3.2 percent as a gauge of monetary firms boosted the second most among 10 industry groups in the CSI 300 Index. Poly Real Estate Group Co. soared 1.3 […]
Hong Kong stocks bolster on positive profits reports, with a measure of Chinese shares extending their bounced back after entering a bear market last week. Shares advanced even as data on mainland manufacturing didn’t manage to hit projections. The Hang Seng China Enterprises Index, also known as the H-share index, escalated 1.5 percent to 9,572.49 […]
Overview In the today’s H4 chart, we can notice that the pair opened this week below the Resistance level of 169.20 that would give the pair a good opportunity to start its bearish move. Actually, as shown, the pair took a slightly downward move and currently is trading above the support level of 168.50 and […]
Asian shares skyrocketed, with the regional index bouncing back from its largest two week sag down since June. Copper erased last week’s hike as a preliminary Chinese manufacturing gauge surprisingly decline, while gold and silver slide lower. The MSCI Asia Pacific Index inched up 0.8 percent by 11:54 a.m. in Tokyo as Chinese companies in […]
EURUSD retreated from a 2 ½ year high of 1.3966 hit on March 13 and extended lower towards the key psychological level of 1.3800. At this point, the medium term trend is still bullish as the technical indicators are not giving any sign of a trend reversal yet. RSI is above 50 and MACD is […]
The Currency market analysis for Mar 24, including significant events likely to affect the markets, buy and sell points and market calendar. My Technical Analysis Summary – Mar 24, 2014 02:40AM (GMT -4:00, DST On) Symbol Type 5 Minutes 15 Minutes Hourly Daily EUR/USD 1.3802 Moving Averages: Neutral Buy Buy Buy Indicators: Neutral Strong Buy Strong Buy […]
The euro was more or less flat against the dollar, while the dollar posted sizeable gains against the Japanese yen during Monday’s Asian trading. The euro was buying 1.3798 dollars, while dollar / yen was at 102.47. The pound gained somewhat but remained below the 1.65 mark at 1.6486. The Chinese HSBC manufacturing flash PMI […]
Crude oil has been trying to come out a pattern. It is improving its support levels from the last couple of trading days. In the Asia’s trading session, the pair is trading at the $99.34 level. On the downside, the price has support at 98.24 and 97.37. After a break below the level of 97, […]
EUR/USD: This is a bear market. The price fell last week, touching the support line at 1.3750; and from that point, the price bounced upwards by 50 pips, testing the resistance line at 1.3800. It is assumed that the bearish trend would continue, which could take the price below the aforementioned support line. USD/CHF: This […]
USD/SGD has given after a long consolidation at the level of 1.26. In the daily chart, the pair is trading above all the short- and medium-term moving averages. The Singapore dollar is back in action starting wave 3 up. Wave 3 has a target of 1.308 with sl 1.2560 for my view. RSI is showing […]
When the European market opens, some economic news will be released such as French Flash Manufacturing PMI, French Flash Services PMI, German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI, Belgian NBB Business Climate. The US will release the economic data too such as the US-Flash Manufacturing PMI, so amid […]
In Asia, Japan will not release any data today and the US will release only one economic data – US-Flash Manufacturing PMI. So there is a big probability the USD/JPY will move with low vowolatility during this day. Resistance. 3: 102.93. Resistance. 2: 102.75. Resistance. 1: 102.55. Support. 1: 102.29. Support. 2: 102.08. Support. 3: […]
GBP/USD has broken all the support levels and is trading below medium term moving averages. It has been in a downtrend from 1.6786 moving to 1-month low. Currently, the pair is trading near the crucial trend line. RSI is cooled off from the sell mode in daily charts. In Asia’s trading session, the pair is […]
USD/CHF has been forming an ending diagonal for months. So will it finally break out of the pattern? It will make one more attempt to do so as short-term momentum is back in buy mode after multiple divergences in the RSI. Above 0.887, it will go to the upper line at 0.8985. A close above […]
Daily chart: The USDX has managed to form a fractal above the support level of 80.11. However, it is very likely that the USDX keeps moving in a low range, as part of a correction in the current trend. The next target for the USDX is the resistance level of 80.62. On the other hand, […]
Daily chart: The GBP/USD is trying to find support on the bullish trend line near to the 1.6480 level. If the pair manages to make a breakout on the trend line, it is expected to fall to the support level of 1.6447. On the other hand, if this pair makes a bullish rebound on the […]
EURUSD: With EUR triggering weakness the past week to close lower at the end of the week, further decline is likely. However, we are watching out for signs of corrective recovery in the new week. Support lies at the 1.3749 level. Further down, support comes in at the 1.3685 level where a violation will target […]
USDCHF: With the pair closing higher following its price halt the past week, the risk is for more gains to occur. However, the situation on the daily chart is different as its mentioned rally has printed a reversal candle (shooting star) suggesting it may be tough for USDCHF strengthen further for now. If it cannot […]
Overview:The USD/JPY is expected to trade with bullish bias. Liquidity was thin in Asia today as financial markets in Japan were shut for holiday. The USD/JPY is underpinned by the positive dollar sentiment (ICE spot dollar index last 80.18 versus 80.01 early Thursday) after the Federal Reserve officials shifted forward their forecast for higher rates […]
