Premium5 468x60 forex
Page 80 of 92 FirstFirst ... 30 70 78 79 80 81 82 90 ... LastLast
Results 791 to 800 of 919
Like Tree2Likes

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; EUR/USD: general review 2019-05-28 08:33 (GMT+2) EUR/USD Current trend At the end of last week, EUR strengthened against USD amid ...

      
   
  1. #791
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    EUR/USD: general review

    2019-05-28 08:33 (GMT+2) EUR/USD

    Current trend

    At the end of last week, EUR strengthened against USD amid weak macroeconomic releases from the US. Negative data heightened investor concerns about the growing tensions between the US and China, which threaten the growth of the American economy.

    At the same time, EUR is still holding back from falling, despite the fact that the European Commission may in the near future fine Italy by 0.2% of GDP (about EUR 3.5 billion) due to the exceeded level of public debt. At the same time, EUR received moderate support from the results of European Parliament elections, where pro-European parties retained a majority.

    Today at 10:00 (GMT+2), statistics on Private Sector Loans in the euro area is expected to be published, and at 11:00 (GMT+2), the results of the Business and Consumer Survey in the euro area will be published. In the afternoon, statistics on House Price Index (15:00 GMT+2) and CB Consumer Confidence in the US (16:00 GMT+2) are scheduled to be released. The recent fall in the stock market may adversely affect the confidence of American consumers, which will help strengthen the pair.

    Support and resistance

    On the H4 chart, the instrument is trading below the center line of Bollinger Bands. The indicator is directed upwards and the price range is reduced, which indicates the change of the downtrend. MACD histogram is in the positive zone keeping a weak buy signal. Stochastic is leaving the oversold zone having formed a buy signal.

    Resistance levels: 1.1201, 1.1223, 1.1247, 1.1264.
    Support levels: 1.1180, 1.1160, 1.1143, 1.1127, 1.1111.

    Trading tips

    Long positions may be opened from the current level with target at 1.1225 and stop loss at 1.1165.
    Short positions may be opened below 1.1165 with target at 1.1110 and stop loss at 1.1185.
    Implementation time: 1-2 days.

  2. #792
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    EUR/USD: general review

    2019-05-29 08:33 (GMT+2) EUR/USD

    Current trend

    EUR continues trading in a downtrend. Pressure on the euro is exerted by the news that the European Commission may begin the procedure for the imposition of disciplinary sanctions in Italy because of the exceeded level of public debt, which reached 132% of GDP. The Commission believes that the Italian government is not making enough effort to reduce this value. The fine may be about EUR 3.5 billion. If monetary penalties are really applied to Italy, this may increase discontent among the population and cause protest sentiments aimed at leaving the EU.

    In turn, USD also remains under pressure due to the intensification of the trade war between the United States and China, which keeps the euro from a stronger fall. Against this background, one can hardly expect a change in monetary policy by the Fed, and this is a negative point for USD.

    Today, data on French GDP will be published, and the speech of the head of the German Bundesbank, Jens Weidmann, is also expected. On Thursday, US GDP data will be published.

    Support and resistance

    Stochastic is at 38 points and does not provide any signals for the opening of transactions.
    Resistance levels: 1.1179, 1.1214.
    Support levels: 1.1141, 1.1100.

    Trading tips

    Short positions may be opened from the resistance level of 1.1214 with take profit at 1.1100 and stop loss at 1.1250.

  3. #793
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    2019-05-30 07:34 EUR/JPY

    EUR/JPY: Ichimoku clouds

    Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (121.76). The closest resistance level is the upper border of the cloud (122.69).

    On the daily chart Tenkan-sen line is below Kijun-sen, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (121.76). The closest resistance level is Tenkan-sen line (122.63).

    Recommendation

    On the four-hour chart we can see a correction of the downward movement. On the daily chart the Bearish trend is still strong. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (121.76) and Stop Loss at the level of Kijun-sen line (122.63).


  4. #794
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    Cryptocurrency Market Review

    2019-05-31 11:32 (GMT+2)

    This week, cryptocurrencies showed ambiguous dynamics. The initial price increase is now replaced by a significant correction. Now Bitcoin is trading around 8215.00 (–3.9%), Ethereum — at 250.00 (–4.7%), Ripple — at the level of 0.4160 (+3.2%), Bitcoin Cash — at around 415.00 (–1.4%). EOS took the fifth place in terms of capitalization, displacing Litecoin from this position. Currently, EOS is trading at 7.360 (+5.7%). The total market capitalization during the week decreased from 270 to 261 billion dollars. Bitcoin's market share rose to 56.2%.

    Despite the downward correction of the market in the second half of this week, most experts are confident that the uptrend will continue. The rise in the value of cryptocurrency assets will continue to be supported by the confrontation between China and the United States. Recently, it has moved from the tariff to the technological sphere, and if the bond market is also affected, this will entail a significant surge in demand for the largest cryptocurrencies. According to CNBC analysts, there is an inverse correlation between the yuan and Bitcoin on the market, with the latter acting as a safe haven. Also, the growth of Bitcoin is supported by the approximation of the date of a two-time reduction in the reward for miners (May 2020), which can provoke a sharp reduction in the supply of coins.

    Cryptocurrency sites important releases include Coinbase preparation for the launch of margin trading. For now, it is discussed, in what form and how to provide this service to customers. Also, representatives of the exchange announced the addition of the ability to trade EOS coins to the Coinbase application on Android and iOS. Binance Cryptocurrency Exchange is preparing to release a new version of the Binance 2.0 platform, which will also contain the function of margin trading. Now this option is available in test mode. Also, the update will enhance the security of transactions in order to further eliminate the possibility of hacker attacks, such as the one that occurred in early May and cost the company's customers BTC 7000.

    From other news, it is worth noting the publication of a new cryptocurrency rating from the China Center for Information Industry Development (CCID). It assesses coins in terms of technology base application, innovation and practical benefits. The first three places are occupied by EOS, TRON and Ethereum. Bitcoin takes only 12th place, and Ripple is at the 17th. The US Congressional Research Service published a report this week, in which it called Bitcoin not a payment, but a speculative tool. According to the research, cryptocurrency ultimately will not be able to compete with traditional means for storing capital and paying for goods and services. The ECB Research Group on the Study of Cryptocurrency Assets also released a report according to which cryptocurrencies currently do not pose a threat to the EU financial system, since their capitalization is only about 1% of euro area GDP. However, the group members called for a unified regulation of cryptocurrencies in the EU.

    Next week, the beginning of a new growth in the cryptocurrency market is possible after the end of the current correction.

  5. #795
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    Morning Market Review
    2019-06-03 08:52 (GMT+2)

    EUR/USD

    EUR is actively recovering against USD after updating local lows on May 30. Technical factors contribute to the development of "bullish" dynamics, while the fundamental background for the euro remains very ambiguous. Investors fear the development of a political crisis in Italy, as well as watching the development of trade relations between the EU and the US, which have worsened after the harsh statements by Donald Trump. Published on Friday, macroeconomic indicators from Europe failed to provide significant support to the euro. Retail Sales in Germany in April decreased by 2.0% MoM, but unexpectedly increased strongly in annual terms (+4.0% YoY). German CPI in May slowed from +1.0% MoM to +0.2% MoM, which turned out to be worse than the average market expectations. Meanwhile, HCPI slowed down from +2.1% YoY to 1.3% YoY over the same period.

    GBP/USD

    GBP is trading higher against USD at the beginning of the new week, developing a correctional impulse formed at the end of the last trading week. On Friday, macroeconomic statistics on consumer lending published in the UK provided moderate support for the instrument. Net Lending to Individuals in April rose from 4.7B to 5.2B pounds, while the forecast predicted its decline to 4.6B. Mortgage Approvals in April rose from 62.56K to 66.26K, which also exceeded the market expectations (63.25K). Investors are focused on statistics on May PMI in the UK. The current forecast of analysts suggests a decrease in Markit Manufacturing PMI from 53.1 to 52.0 points.

    AUD/USD

    AUD is strengthening against USD during today's Asian session, updating local highs of May 13. Corrective sentiment on the US currency contributes to the development of upward dynamics on the instrument, while the macroeconomic background from Australia remains ambiguous. AiG Manufacturing index went down from 54.8 to 52.7 points in May. Company Gross Operating Profits in Q1 2019 grew by 1.7% QoQ only, which is almost twice as bad as market expectations. ANZ Job Advertisements in May showed a sharp decline of 8.4% MoM after rising by 0.2% MoM last month. On Tuesday, investors are waiting for the RBA decision on the interest rate, which is expected to be reduced from 1.50% to 1.25%. In the case of the implementation of forecasts, AUD may fall under pressure.

    USD/JPY

    USD fell sharply against JPY on May 31, updating local lows of mid-January. The reason for the emergence of negative dynamics in the instrument was the statements by US President Donald Trump's about his intention to sharply increase import duties on Mexican goods, if Mexico does not take measures aimed at restricting the flow of migrants. Investors fear that the implementation of Trump’s threats could have a significant impact on the US economy and exacerbate the threat of a recession, given the large trade turnover between the countries. Meanwhile, JPY is under pressure from a not too optimistic macroeconomic background from Japan. Friday statistics reflected a slowdown in growth in Retail Sales in April from +0.2% MoM to 0.0% MoM. YoY, the indicator slowed from +1.0% to +0.5%. May data released today on the Nikkei Manufacturing PMI in Japan showed an increase from 49.6 to 49.8 points, while analysts did not predict a change in this indicator.

    Oil

    Oil prices dropped markedly at the end of last week, updating local lows of mid-February. The reason for such a sharp decline of the instrument was the growing fears about global demand after statements by US President Donald Trump about the intention to increase import duties on all Mexican goods, if Mexico does not restrict the flow of illegal migrants. The opening of the new front in the US trade war serves as a source of uncertainty and threatens with the negative consequences for the world economy. Moreover, the American economy may also be significantly affected, since the trade turnover between the United States and Mexico is still very high. In addition to imports of agricultural products, the United States is actively importing oil from Mexico, so the current situation threatens with an additional decrease in demand.


  6. #796
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    Morning Market Review
    2019-06-04 08:49 (GMT+2)

    EUR/USD

    EUR grew significantly against USD on Monday updating a new local high of May 13. Macroeconomic statistics on business activity in the US, which turned out to be worse than forecasts, contributed to the development of "bullish" dynamics on the instrument at the beginning of the week. ISM Manufacturing PMI in May declined from 52.8 to 52.1 points with the forecast of 53.0 points. Markit Manufacturing PMI in May declined from 52.6 to 50.5 points. In turn, ISM Manufacturing Prices in May rose from 50.0 to 53.2 points, which turned out to be better than the average market expectations of 52.0 points. European statistics on business activity was contradictory, but came close to forecasts, so it did not have a noticeable effect on the dynamics of the instrument. Euro area's Manufacturing PMI went down from 47.9 to 47.7 points in May.

    GBP/USD

    GBP continued to rise against USD during the Asian session on June 3, rising to local highs of May 28. The pound was under pressure from weak data on business activity from the UK at the beginning of the week. According to the data from Markit, Manufacturing PMI in May fell from 53.1 to 49.4 points, while investors expected a decline only to 52.0 points. Investors are focused on the state visit of US President Donald Trump to the UK in addition to a marked increase in trade tensions in the market. Trump intends to discuss issues regarding the Chinese company Huawei, against which the United States recently imposed sanctions. It is planned that the Chinese corporation will be involved in the construction of fifth-generation communication networks in the UK. In addition, on the agenda of the visit are questions about a free trade agreement between countries, which is planned to be concluded after Brexit, in order to level losses from the process.

    AUD/USD

    AUD rose against USD on Monday, noting local highs of May 13. The Australian currency was supported by quite positive data on China's business activity, which did not demonstrate the expected decline. The growth of the instrument was also supported by the uncertain statistics on business activity from the US, which heightened tensions around the possible onset of a recession in the US economy. During the Asian session, the pair shows ambiguous trading. AUD is under pressure from the RBA decision to lower the interest rate to 1.25%.

    USD/JPY

    USD continues to weaken against JPY against the background of a further decline in investor interest in risk. The focus of the market is on US trade conflicts that threaten with a slowdown in global economic growth. Earlier, Donald Trump put forward a new ultimatum to Mexico. The US will increase import duties on all Mexican goods from June 10, unless the Mexican government takes measures to reduce the flow of migrants across the southern borders of the United States. Monday's macroeconomic statistics from Japan provided little support to the yen. Nikkei Manufacturing PMI grew from 49.6 to 49.8 points which was better than expected (49.6 points). Capital Spending in Q1 2019 grew from 5.7% to 6.1% with the forecast of +11.6%.

    Oil

    Oil prices continue to show negative dynamics. The main downward factor for the instrument remains the decline in global demand for raw materials amid worsening trade conflicts. Donald Trump’s statements about the intention to introduce import duties on Mexican goods from June 10, which were likely to have a negative impact on Mexican oil imports, hit the quotes hard. The former threats of weakening demand against the background of the US-Chinese trade war still remain. Protracted negotiations between the parties have not yet led to consensus, and Washington has only aggravated the situation, imposing tough sanctions against the Chinese Huawei. In turn, quotes are supported by positive statements by Saudi Arabia that the OPEC+ deal will continue to be implemented by all members of the cartel.

  7. #797
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    Morning Market Review
    2019-06-05 08:50 (GMT+2)
    EUR/USD

    EUR rose significantly against the US dollar on Tuesday, updating local highs of April 18. The growth of the euro is still promoted by the correction factors of the US dollar, which appeared after the new threats of Donald Trump to introduce import duties against Mexico. Analysts have again spoken about the risks to the US economy that these and similar restrictive measures bear. Also, USD is under pressure from the Fed policy, which may return to lower interest rates in the event of further deterioration in economic indicators. At the same time, the market is characterized by a rather low investor interest in risk. Published on Tuesday, macroeconomic statistics from the euro area prevented the emergence of a more confident uptrend in the instrument. CPI slowed down in May from +1.7% YoY to +1.2% YoY, which turned out to be worse than expectations. Core CPI for the same period corrected from +1.3% YoY to +0.8% YoY with the forecast of +0.9% YoY.

    GBP/USD

    GBP maintains an upward trend paired with USD, noting the new local highs of May 27. Published on Tuesday, the macroeconomic statistics from the UK was negative, but there was no significant pressure on the pound. The UK Construction PMI fell sharply in May from 50.5 to 48.6 points, while the forecast did not suggest any changes in the indicator. BRC Retail Sales Monitor in May also showed a decline of 3.0% YoY after rising by 3.7% YoY last month. Analysts expected an increase of +0.9% YoY. GBP is under additional pressure by the deadlock around Brexit. Teresa May did not manage to reach an agreement within the Parliament, which forced her to resign from the post of the Conservative Party leader. Perhaps the new Prime Minister will be able to find other ways for dialogue, but investors fear that the process may be delayed. Only the selection of a new party leader can take more than a month.

    AUD/USD

    AUD continues to grow moderately against AUD, updating the highs of 10 May. The growth of the instrument proceeds against the background of the publication of not the most confident macroeconomic statistics from Australia, as well as yesterday's decision of the RBA to lower the interest rate to 1.25% for the first time in 3 years. However, the decision of the regulator was quite predictable, and therefore the pressure on the Australian dollar was moderate. In the follow-up statement, the RBA noted that it is trying to maintain employment and inflation levels that remain below target levels. Moreover, RBA officials did not rule out further steps to ease monetary policy. Investors today are focused on the preliminary statistics on Australia's GDP for Q1 2019. On a quarterly basis, the economy accelerated from +0.2% QoQ to +0.4% QoQ, which was slightly below the forecast of +0.5% QoQ. YoY, the growth of the index slowed down from +2.3% to +1.8%.

    USD/JPY

    USD is consolidating against JPY after active decline at the end of the last trading week. The yen is supported by a low investor interest in risk, as well as corrective sentiment on the US currency. However, the activity on the instrument remains quite low. Nikkei Services PMI exerts some pressure on JPY on Wednesday. In May, according to preliminary estimates, the figure dropped from 51.8 to 51.7 points, with a forecast of growth to 51.9 points. On Thursday, markets are expecting the speech of the head of the Bank of Japan, Haruhiko Kuroda, who may reveal the regulator’s plans for monetary policy in the near future.

    Oil

    Oil prices are correcting after a steady decline at the end of the last trading week. The growth of quotations is largely technical in nature, while negative factors only intensify. In particular, it became known that Russia opposes further restrictions on oil production under the OPEC+ deal. The report of the American Petroleum Institute reflected the growth of oil reserves for the week as of May 31 by 3.545 million barrels after a decrease of 5.265 million barrels for the previous period. On Wednesday, investors expect to publish similar statistics from the US Department of Energy.

  8. #798
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    Morning Market Review
    2019-06-06 08:42 (GMT+2)

    EUR/USD

    EUR showed ambiguous trading against USD on Wednesday. In the morning, EUR was trading higher and the instrument was able to update its local highs of April 17, but then traders began to actively get rid of long positions, which caused a significant pullback. The reason for the emergence of negative dynamics was the aggravation of relations between the Italian government and the EU leadership after representatives of the European Commission announced the validity of the claims. Italy faces a large fine for the excess of public debt, which last year amounted to more than 130%. Wednesday's macroeconomic statistics from euro area provided moderate support to the instrument. Markit Services PMI in May increased from 52.8 to 52.9 points with the forecast of the decline to 52.5 points. Markit Composite PMI for the same period strengthened from 51.5 to 51.8 points, which turned out to be better than market expectations of 51.6 points.

    GBP/USD

    Yesterday, GBP broke off its moderate growth against USD and showed a downward reversal. In the first half of the day, consumer sentiment on the pound was supported by good macroeconomic statistics from the euro area and the UK. Markit UK Services PMI in May increased from 50.4 to 51.0 points with the forecast of the increase to 50.6 points only. With the opening of the US trading session, correctional sentiments returned to the market, supported by strong PMI data from ISM. Non-Manufacturing PMI reflected an increase from 55.5 to 56.9 points, although analysts did not expect the indicator value to change. During today's Asian session, the pair shows flat trading, awaiting the appearance of new drivers in the market. On Thursday, investors are focused on the ECB interest rate meeting, as well as on the speech by the Bank of England Governor Mark Carney.

    AUD/USD

    AUD showed a decline against USD on Wednesday, departing from local highs of May 10 which were updated the day before. Certain pressure on the instrument was caused by ambiguous macroeconomic statistics released in Australia and China, but the main factor of the correction was the strengthening of the position of USD. During the Asian session on June 6, the pair is relatively stable and shows flat trading. Investors estimate Australian import and export statistics. In April, exports and imports increased by 3% after a decline of 2% last month. April Balance of Trade slightly decreased from AUD 4.887 billion to AUD 4.871 billion, which turned out to be somewhat worse than expectations.

    USD/JPY

    USD showed correctional growth against JPY on Wednesday, despite the publication of ambiguous macroeconomic statistics from the United States. In particular, investors paid attention to the extremely weak ADP Employment Change report. In May, the report reflected an increase in the private sector by only 27K new jobs after rising by 271K over the past month. The forecast assumed growth by 180K. Increased attention to the report is due to the upcoming publications on the US labor market on Friday.

    Oil

    Oil prices returned to decline on Wednesday, interrupting the development of the correction impulse formed the day before. Powerful pressure on the quotes on Wednesday was exerted by the US Department of Energy Crude Oil Inventory report, indicating a sharp increase in oil reserves in the country. For a week as of May 31, oil stocks in US warehouses increased by 6.771M barrels, after a decrease of 0.282M barrels over the past period. Analysts had expected negative dynamics to remain at –0.849M barrels. At the same time, the report also reflected an increase in oil production in the United States from 12.300M to 12.400M barrels per day.

  9. #799
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    Morning Market Review
    2019-06-07 08:44 (GMT+2)
    EUR/USD

    EUR showed strong growth against USD on Thursday, recovering from a corrective decline of the previous day. The reason for the emergence of the uptrend was another weakening of USD against the background of the publication of not the most optimistic macroeconomic statistics from the United States and the growth of trade tensions between the countries. On Wednesday, the ADP Nonfarm Employment Change reflected a sharp slowdown in job growth from 275K to 27K, which turned out to be drastically worse than forecasts (180K). Thursday's data indicated a decline in Nonfarm Productivity in Q1 2019 from 3.6% to 3.4%, with a forecast of 3.5%. Unit Labor Costs for the same period declined by 1.6% after the decline of 0.9% in the previous period. European statistics was more predictable, which provided moderate support for the euro. Euro area's GDP for Q1 2019 showed an increase of 0.4% QoQ and 1.2% YoY, which fully coincided with the forecasts. The ECB kept the interest rate at 0%, noting that its growth is possible not earlier than the first half of 2020.

    GBP/USD

    GBP is trading flat against USD, remaining close to local highs, updated on Thursday. Despite the publication of weak statistics from the US, the pound was not able to consolidate in the uptrend, being under pressure from uncertain prospects around Brexit. On Thursday, investors were focused on the speech of the Bank of England governor Mark Carney, who is currently on a visit to Japan. The speech of the head of the regulator did not render any long-term support to the instrument, since it was largely devoted to the problems of investment funds. At the end of the week, investors expect the publication of Halifax UK House Price Index, as well as the release of an updated consumer inflation forecast. The May report on the US labor market will be more interesting.

    AUD/USD

    AUD showed a slight increase against USD on Thursday, weakening the downward corrective impulse formed the day before. During the Asian session, the instrument is again prone to decline, yet investors prefer to wait for the appearance of new drivers in the market. Friday's statistics from Australia was rather weak. AiG Construction Index went down from 42.6 to 40.4 points in May. Home Loans in April decreased by 1.2% after a decline of 2.5% in March. Analysts expected a decline of only 0.2%. Investment Lending for Homes in April showed a decrease of 2.2% after a decline of 2.7% in March.

    USD/JPY

    USD showed ambiguous dynamics against JPY, ending yesterday’s trading session with a slight decrease. Pressure on USD was exerted by weak macroeconomic data from the United States published on Thursday. In addition, investors are cautiously waiting for the release of the May report on the US labor market, because according to the previously published ADP report, the real state of the market may be significantly worse than expectations. In turn, the yen continues to receive moderate support from the risks of developing US trade conflicts with China and Mexico and a possible interest rate cut by the Fed in the foreseeable future. The process of negotiations between the US and Mexico has not yet brought visible success, but the market as a whole is quite optimistic and expects that on June 10, import duties on Mexican goods will not be introduced.

    Oil

    Oil prices rose significantly on Thursday, departing from local lows of January 29, updated the day before. The growth of the instrument was largely technical in nature, whereas the former negative factors are still very strong. In particular, the market fears further decline in global demand amid a slowing global economy. A previously published report from the US Department of Energy also put strong pressure on quotes, reflecting an increase in oil production rates and indicating a sharp increase in inventories. On Friday, investors are focused on the May report on the US labor market. In addition, investors are waiting for Baker Hughes US Oil Rig Count.

  10. #800
    Senior Member MikhailLF's Avatar
    Join Date
    Sep 2017
    Posts
    477
    Morning Market Review
    2019-06-10 08:53 (GMT+2)
    EUR/USD

    EUR rose significantly against USD on Friday, updating local highs of March 22. The reason for the emergence of a confident upward trend was the extremely weak report from the US labor market, which reinforced concerns about the Fed rate cut. In May, Nonfarm Payrolls grew by 75K new jobs, while analysts had expected growth of 185K jobs. In April, the indicator grew by 224K. Average Weekly Hours in May remained at the same level of 34.4 hours, with the forecast for the indicator to rise to 34.5. Average Hourly Earnings in May increased by 0.2% MoM and 3.1% YoY, which again turned out to be worse than market expectations (+0.3% MoM and +3.2% YoY). During the Asian session on June 10, the pair is trading downwards, negatively reacting to ambiguous statistics from China.

    GBP/USD

    GBP showed growth against USD on Friday, recovering from the uncertain dynamics of the second half of last week. The strengthening of the British currency was caused by weak data on the US labor market, while the macroeconomic background of the UK remained neutral. At the same time, investors enthusiastically greeted statistics on Halifax House Price Index. In May, prices showed an increase of 0.5% MoM after rising by 1.2% MoM last month. Analysts expected a decline of 0.2% MoM. During the Asian session on June 10, the instrument is relatively stable. Investors are in no hurry to open new trading positions, preferring to wait for new drivers to appear at the market. Today, investors focus on a block of macroeconomic statistics from the UK. Such indicators as Industrial Production, Trade Balance and GDP data for May are expected to be released. Closer to the end of the afternoon session, the speech of the representative of the Bank of England Michael Saunders is expected.

    AUD/USD

    AUD rose moderately against USD on Friday, noting local highs of May 8. The growth of the instrument proceeded against the background of the publication of weak data on the US labor market; however, the Australian data were also quite disappointing. AiG Construction Index of Australia in May fell from 42.6 to 40.4 points, which was worse than the average market forecasts. Home Loans in April decreased by 1.2% after a decline of 2.5% in March. Analysts expected a decline of only 0.2%. During the Asian session on June 10, the instrument is trading downwards. Australian markets are closed today due to the Queen's Birthday, so investors are focused on news from the United States. Additional pressure on AUD was exerted by contradictory statistics on imports and exports from China.

    USD/JPY

    USD showed a decline against JPY at the end of last week, returning to the same local lows, updated on June 5. Friday's macroeconomic statistics from the US put significant pressure on the US currency and again increased the risks of easing monetary policy by the Fed. At the same time, USD receives moderate support from optimistic signals around the US-Mexico trade negotiations. It is possible that Donald Trump will postpone the imposition of import duties on Mexican goods, which should come into force today, June 10. During today's Asian session, the dollar is trading higher, with investors almost completely ignoring strong statistics from Japan. Japan's GDP in Q1 2019 showed an increase of 0.6% QoQ and 2.2% YoY, with the forecast of +0.5% QoQ and +2.1% YoY.

    Oil

    Oil prices recovered significantly at the end of last week, departing from local lows of January 29, updated on June 5. The quotes are supported by positive comments by the Minister of Energy of Saudi Arabia, Khalid Al-Falih, who said that Riyadh does not plan to increase production to compensate for current oil prices, which, in his opinion, remain low and do not imply an increase in investment in the industry. Instead, Saudi Arabia is in favor of extending the OPEC agreement, which ends at the end of this month. At the end of last week, quotes were also supported by Baker Hughes report on active oil rigs in the USA, the number of which for the reporting week dropped sharply from 800 to 789 units.

Page 80 of 92 FirstFirst ... 30 70 78 79 80 81 82 90 ... LastLast

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
  •