Premium5 468x60 forex
Page 78 of 78 FirstFirst ... 28 68 76 77 78
Results 771 to 774 of 774
Like Tree1Likes

Forex News Analysis by LiteForex

This is a discussion on Forex News Analysis by LiteForex within the Analytics and News forums, part of the Trading Forum category; LiteForex analitics. Morning Market Review EUR/USD The euro rose markedly against the US dollar on Friday, updating local highs of ...

          
   
  1. #771
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    332
    LiteForex analitics. Morning Market Review

    EUR/USD

    The euro rose markedly against the US dollar on Friday, updating local highs of March 26. The development of "bullish" dynamics was supported by good macroeconomic data from the Eurozone and China, as well as a disappointing consumer confidence index from the USA. Exports from China in March showed a sharp increase of 14.2% YoY after a decline by 20.8% YoY in February. Analysts were expecting the growth of 7.3% YoY. Imports for the same period declined by 7.6% YoY after declining by 5.2% in February. Thanks to that, the trade surplus sharply increased in March and amounted to USD 32.64 billion, while the forecasts suggested an increase from USD 4.08 to 7.05 billion. European data showed a decline in industrial output in February by 0.2% MoM after rising by 1.9% MoM last month. The market expected a more rapid decline of 0.6% MoM.

    GBP/USD

    The British pound is trading against the US dollar in a positive trend, trying to recover from the ambiguous dynamics of the week before last. Despite the postponement, Brexit, of course, remains one of the main topics among investors. Prime Minister Theresa May is trying to fulfill her previous promises to form a coalition with the Labor Party in order to achieve a final agreement on the deal. Moderate support for the pound on Monday is provided by the Rightmove index on the dynamics of housing prices in the UK. In March, the index rose by 1.1% MoM after rising by 0.4% MoM last month. YoY, the indicator still shows negative dynamics, decreasing by 0.1%. On Monday, a speech of Jonathan Haskell, a member of the Monetary Policy Committee (MPC) of the Bank of England, is expected, and on Tuesday, the February data on the UK labor market will be released.

    AUD/USD

    The Australian dollar steadily strengthened against the US dollar on Friday, updating local highs of February 27. The Australian currency was supported by Chinese macroeconomic statistics, as well as the rather voluminous report of the RBA on financial stability. The latter, although showed the lowering of growth prospects for the Australian economy, contained words about stabilized external risks and the improved situation on the labor market. Today the instrument is trading ambiguously, waiting for the appearance of new drivers. Investors are focused on the New York FRB index on business activity in the manufacturing sector, as well as the presentation of the Fed representative Charles Evans. Interesting statistics from Australia will appear on April 16, when the minutes of the RBA meeting will be published.

    USD/JPY

    The US dollar showed moderate growth against the Japanese yen on Friday, marking new local highs since March 5. There were no interesting macroeconomic statistics from Japan, so investors concentrated on optimistic Chinese publications and were disappointed by data from the United States. According to preliminary estimates, the University of Michigan consumer sentiment index in April fell from 98.4 to 96.9 points, while the forecast was for a decline only to 98.0 points. At the beginning of the week, traders are focused on the trade negotiations of Japan and the United States, which will be held in Washington.

    Oil

    Oil prices resumed moderate growth on April 12, receiving support from the continued supply cuts from Venezuela and Iran. The armed conflict in Libya provides additional support for quotes. On Friday, the head of the Libyan National Oil Corporation warned against the further escalation of the conflict, which, in his opinion, could completely destroy the production in the country. More confident growth on Friday was hindered by the Baker Hughes report on active oil platforms in the USA, reflecting their growth from 831 to 833 units.

  2. #772
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    332
    LiteForex analitics. Morning Market Review

    EUR/USD

    Yesterday, EUR declined against USD, continuing the development of a poor “bearish” impulse formed at the beginning of the week, due to technical factors. In addition, investors are disappointed with the growth rate of the European economy, which is unable to reach the forecasted levels, despite the extremely soft monetary policy of the regulator. Moderate support was provided by macroeconomic statistics from the ZEW Institute. April’s German ZEW Economic Sentiment rose from 3.6 to 3.1 points, while the growth only to 0.8 points was expected. German ZEW Current Conditions for the same period decreased from 11.1 to 5.5 points, which was worse than market expectations of 8.0 points. April’s ZEW EU Economic Sentiment also grew steadily –2.5 to 4.5 points, with a forecast of 1.2 points. Today, investors are focused on March EU data on consumer inflation and the publication of the Fed’s economic review Beige Book.

    GBP/USD

    Yesterday, GBP fell against USD, receiving no significant support from the UK labor market report. The Unemployment Rate in February remained at 3.9% 3m/Yr, which coincided with market forecasts. Average Earnings without bonus decreased slightly by 0.1% to 3.4% 3m/Yr in February, as expected. March Claimant Count Change increased from 26.7 to 28.3K, while analysts had expected a decline to 20.0K. Today, during the Asian session, the pair is trading upwards, receiving minor support from Chinese publications. Investors are awaiting the release of March statistics on consumer inflation in the UK. It is predicted that the CPI will rise by 0.3% MoM, slowing down against the previous +0.5% MoM, and grow by +2.0% YoY. The market also expects the speech of the head of the Bank of England Mark Carney, who can tell about the plans of monetary policy in the context of new terms for Brexit.

    AUD/USD

    Yesterday, AUD moved in different directions against USD, ending the day session with almost zero results. In the morning, the price was under pressure by the published RBA protocols, which focused on growing external risks and a slowdown in the growth rate of the Australian economy. With the opening of the American session, the instrument was able to quickly recoup, as USD was under pressure from industrial production statistics. In March, the index fell by 0.1% MoM after rising by 0.1% MoM last month. Analysts were counting on acceleration to +0.2% MoM. Capacity Utilization fell from 79.0% to 78.8% in March, which also was worse than market forecasts of 79.1%. Today, during the Asian session, AUD is supported by strong statistics from China. March Retail Sales increased by 8.7% YoY after rising by 8.2% YoY in February. Industrial production for the same period rose by 8.5% YoY after rising by 5.3% YoY in February.

    USD/JPY

    USD is moving horizontally against JPY, remaining around ​​local highs since March 5. The positions of USD are under pressure, as there is a lack of strong US macroeconomic statistics on the market, and investors are awaiting the resolution of the US-China trade negotiations. In addition, the market fears harsh statements by Donald Trump, who accuses the regulator of slowing economic growth and extremely weak inflation. The President urges the Fed to resume quantitative easing. Meanwhile, traders are following US and Japanese trade negotiations. While the parties are very optimistic but no specific decisions have yet been made. Japanese exports fell by 2.4% YoY in March, which was twice as bad as the decline in February. Imports, in contrast, rose by 1.1% YoY after a decrease of 6.6% YoY in February. Due to a sharp decline in exports, the overall March trade balance increased from 334.9 to 528.5 billion JPY.

    Oil

    Yesterday, oil prices resumed moderate growth, responding to new exacerbations in Libya and a decline in exports of petroleum products from Venezuela and Iran. The quotes, in turn, are under pressure from uncertain prospects of the OPEC+ transaction. In particular, Russia may decide to increase the rate of oil production in order to compete with the ever-increasing supplies from the United States. The further fate of the current transaction will be decided in June when the cartel gathers for the next summit. Published on the eve of the report of the American Petroleum Institute on oil reserves reflected the decline in stocks for the week of April 12 to 3.096 million barrels after rising by 4.091 million barrels for the previous period. Today, investors are awaiting publication of a report on production and reserves from the US Department of Energy.

  3. #773
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    332
    LiteForex analitics. Morning Market Review

    EUR/USD

    The euro showed ambiguous dynamics against the US dollar on Wednesday, updating local highs of April 12. However, by the close of the day session, the instrument lost most of the positions it had won. Investors were focused on European consumer inflation statistics, which managed to provide tangible support for the euro. In March, the consumer price index rose by 1.0% MoM and 1.4% YoY after rising by 0.3% MoM and 1.4% YoY in February. The core CPI in March rose by 0.8% YoY, which coincided with market expectations. Investors were also optimistic about the statistics for the Eurozone trade balance. The surplus in February rose from 17.4 to 19.5 billion euros, while analysts expected a decline to 14.7 billion. Today the instrument is relatively stable and expects new drivers to appear. On Thursday, investors expect the publication of European data on business activity in April.

    GBP/USD

    The pound slightly declined against the US dollar on Wednesday, updating local lows of April 8. The British currency was pressured by an uncertain macroeconomic statistics from the UK. In March, the consumer price index slowed down from 0.5% MoM to 0.2% MoM, which turned out to be worse than analysts' expectations of 0.3% MoM. YoY, inflation remained at 1.9%, while the market expected an acceleration of up to 2.0%. The retail price index was also disappointing. In March, it showed zero dynamics after rising by 0.7% MoM last month. The forecast for the indicator was 0.2% MoM. YoY, the retail price index slowed from 2.5% in February to 2.4% in March, with a forecast of 2.6% YoY.

    AUD/USD

    The Australian dollar showed ambiguous dynamics against the US dollar on Wednesday, having managed to update local highs of February 21. The "Australian" was supported by strong macroeconomic data from China. In March, retail sales increased by 8.7% YoY after rising by 8.2% YoY in February. Industrial production rose by 8.5% YoY against February growth of 5.3% YoY. GDP growth in Q1 2019 remained at 6.4% YoY, with the forecasts of a slowdown to 6.3% YoY. Today, the pair is trading in both directions. Investors are focused on the report on the Australian labor market in March. The unemployment rate in March rose from 4.9% to 5.0%, while the employment rate jumped sharply by 25.7K jobs, while the forecast suggested an increase of only 12K. The total employment rate in March was 48.3K after a decrease of 7.3K last month.

    USD/JPY

    The US dollar is relatively stable against the Japanese yen and has been trading near local highs since March 5. A certain pressure on the US currency on Wednesday was provided by a published economic review of the Fed, the Beige Book. The regulator again noted weak economic growth, however, some US districts reporting of accelerated growth. The labor market remains fairly stable, but there is still an acute shortage of highly skilled workers in industrial production and construction. Today, the yen shows moderate growth, receiving support from publications from Japan. Nikkei Manufacturing PMI grew from 49.2 to 49.5 points in April which was above average forecasts. On Thursday, investors expect the publication of data on the US retail sales for March and a block of preliminary statistics on business activity in April.

    Oil

    Oil prices showed an increase on April 17, but failed to consolidate on new highs and declined by the end of the day session. The quotes were supported by strong data on industrial production from China and by an unexpected decline in US oil reserves. According to a published EIA report, during the week of April 12, oil and petroleum products in the US warehouses decreased by 1.396 million barrels, while investors expected growth of 1.711 million. A slight decrease in production in the USA from 12.200 to 12.100 million barrels per day was also a positive signal.

  4. #774
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    332
    LiteForex analitics. Morning Market Review

    EUR/USD

    Yesterday, EUR declined significantly against USD, renewing the local lows since April 8. The negative dynamics is due to disappointing statistics on EU business activity. April Markit Service PMI decreased from 53.3 to 52.5 points, against the expected decrease only to 53.2 points. April Manufacturing PMI fell from 51.6 to 51.3 points against the forecast of 51.8 points. German data were better than expected. Markit Service PMI rose from 55.4 to 55.6 points, while the market expected a decline to 55.1 points. The only exception was Manufacturing PMI, which rose from 44.1 to 44.5 points while the forecast was 45.0 points. In addition to ambiguous macroeconomic statistics, EUR was under pressure from the prospects of a new trade war between the US and the EU. Yesterday, Brussels announced the possibility of introducing response import duties on American goods worth more than $20 billion.

    GBP/USD

    Yesterday, GBP fell against USD, renewing local lows since March 29. Mostly, the decline in GBP was of a technical nature, since the UK was able to support investor sentiment in the market after the publication of strong Retail Sales statistics. In March, it increased by 1.1% MoM and 6.7% YoY, which was significantly better than the February data: + 0.6% MoM and + 4.0% YoY. Analysts expected a decline by 0.3% MoM and growth by 4.6% YoY. The indicator excluding fuel sales in March increased by 1.2% MoM and 6.2% YoY, while the forecast was –0.3% MoM and + 4.0% YoY. Today, during the Asian session, GBP is trading in different directions, waiting for new drivers in the market. Trading on the last day of the week is likely to be fairly calm, as European markets are closed on the occasion of Good Friday.

    AUD/USD

    Yesterday, AUD fell against USD within the correction, departing from local highs since April 17. Despite the publication of a moderately optimistic report on the Australian labor market, investors found no reason to buy AUD with the opening of European and American trading sessions. USD was supported by strong data on Retail Sales. In March, it increased by 1.6% MoM after falling by 0.2% MoM last month. Analysts expected a gain of +0.9% MoM. Sales excluding cars for the same period rose by 1.2% MoM with a forecast of +0.7% MoM. The cumulative retail sales from the US Census Bureau increased in March by 1.0% MoM, after falling 0.3% MoM last month. The market expected a much more modest growth of +0.4% MoM.

    USD/JPY

    USD maintains the same momentum against JPY, remaining close to the local highs since December 20, 2018 and the level of 112.00. Yesterday’s US PMI data did not support USD significantly, however, it grew against the most currencies. Markit Manufacturing PMI in April did not change against the March one, remaining at the level of 52.4 points, with the forecast of growth to 52.8 points. Service PMI significantly declined from 55.3 to 52.9 points against the forecast of 55.0 points. April Composite PMI fell from 54.6 to 52.8 points.

    Oil

    Yesterday, oil prices rose, supported by the same factors on the market. The report by the US Department of Energy reflected a steady decline in US oil reserves by 1.4 million barrels, and also recorded a slight decrease in the volume of “black gold” production in the country. The decline in supply by OPEC+ is also observed, although the market fears uncertain prospects around the extension of the deal in the current year. The price is positively affected by the news from Libya, where the internal military conflict is going, which threatens to completely stop oil production in the country. On Thursday, one day earlier than usual, Baker Hughes published a report on active oil platforms in the United States. During the reporting week, the number of drilling rigs fell from 833 to 825 units.

Page 78 of 78 FirstFirst ... 28 68 76 77 78

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •