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Hotforex.com - Market Analysis and News.

This is a discussion on Hotforex.com - Market Analysis and News. within the Analytics and News forums, part of the Trading Forum category; Date : 20th February 2019. MACRO EVENTS & NEWS OF 20th February 2019. FX News Today * Bund yields lower ...

          
   
  1. #381
    Senior Member HFblogNews's Avatar
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    Date : 20th February 2019.

    MACRO EVENTS & NEWS OF 20th February 2019.




    FX News Today

    * Bund yields lower in opening trade, Equity markets mostly higher in Asia.

    * Stock markets in Asia remained underpinned by hopes of a US-Sino trade deal.

    * Wall Street closed higher, helped by positive earnings at Walmart Inc. Fresh.

    * President Trump meanwhile suggested that March 1 tariff deadline is not cast in stone, so there is hope that further tariffs can be avoided.

    * Japan’s exports fell 8.4% in January, while imports declined 0.6% y/y. The contraction in exports seems consistent with escalating concern that Japan’s export sector will be dented this year by global trade frictions and the slowing in China’s economy.

    * The Yuan lifted after a Bloomberg report saying the US was looking for a pledge from China that it will not devalue its yuan currency as part of the trade deal.

    * USDJPY has climbed to 110.91 from 110.60, amid cautious risk-on theme

    * WTI crude edged out fresh 3-month high of $56.77.

    Charts of the Day



    Main Macro Events Today

    * Juncker and May meet for another round of crunch talks in Brussels today.

    * EU Consumer Confidence – The overall Eurozone number Consumer Price Index (M/M) on course to be confirmed at 1.4% y/y.

    * FOMC minutes – The focus turns on the FOMC minutes to the January 29, 30 policy meeting as we look to glean more information on the Fed’s pivot to a more dovish point of view, even as rates were left unchanged. We did get a glimpse from Chairman Powell’s press conference, where he noted tighter financial conditions, along with tame inflation. And he said the onus is on price pressures to force a rate move.

    * Australian labour data – The unemployment rate is seen holding steady at 5.0%.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  2. #382
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    Date : 21st February 2019.

    MACRO EVENTS & NEWS OF 21st February 2019.




    FX News Today

    * Asian equities initially rallied after Fed minutes promised patience on further policy action but most have moved down from earlier highs.

    * Hopes that the US and China are nearing a deal on trade have risen after an unnamed source cited by Reuters said the two sides have started to outline commitments in principle in what is described as the most significant progress yet.

    * The JPY225 closed with a gain of just 0.15%, while the Topix was unchanged from yesterday. The Hang Seng is up 0.03% and mainland China indices are also little changed.

    * The AUS200 outperformed and rallied 0.70%, after better than expected jobs data.

    * US futures are stronger after Reuters reports outlined progress in US-Sino trade talks and European futures are also moving higher.

    * The March WTI futures are trading at USD 57.33 per barrel.

    Charts of the Day



    Main Macro Events Today

    * EU PMIs – EU Manufacturing PMI is expected to have declined to 50.3 in February, compared to 50.5 last month, dangerously close to the 50 threshold. Services PMI is expected to have increased to 51.4, compared to 51.2 in January, hence pushing the overall Composite PMI higher to 51.1, compared to 51.0 in the previous month.

    * Philly Fed Index – The Philly Fed Manufacturing Index is expected to have declined to 14, compared to 17 in January, still registering a positive effect.

    * Durable Goods – Durable goods are expected to come out registering positive growth for December, compared to negative for November.

    * US PMIs – Manufacturing is expected to have declined in the US, similar to the EU, reaching 54.7 compared to 54.9 last month, while Services are expected to have slightly grown to 54.3 compared to 54.2 in January.

    * Existing Home Sales – Home Sales are expected to have remained at more or less the same levels, at 5M, compared to 4.99M last month.

    * CB Leading Index – The Conference Board Index is expected to have shown a 0.1% m/m increase in January, compared to the 0.1% m/m contraction in December.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  3. #383
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    Date : 22nd February 2019.

    MACRO EVENTS & NEWS OF 22nd February 2019.




    FX News Today

    * Both Topix and Nikkei, declined during the Asian session, with -0.25% and -0.18% respectively.

    * Overall, stock markets in Asia struggled through most of the session as subdued inflation data rekindled concerns about a lack of demand and flagging growth and after Wall Street closed in the red.

    * News that US President Trump will meet with China’s top trade negotiator today in Washington seems to have helped Chinese markets to stage a late rally and CSI 300 and Shanghai Comp are up 1.76% and 1.51% respectively and the Hang Seng also managed to claw back losses and is up 0.11%.

    * US stock futures are posting marginal gains and the April WTI future is trading at just over USD 57 per barrel.

    * USDCAD rallied over 1.32 to 1.3225, as Oil inventories rose, with the US at record production levels. Oil price is now back around the $57 mark.

    * Japanese CPI data same as forecasts, pushing the Yen higher.

    Charts of the Day



    Main Macro Events Today

    * EU CPI Inflation – Core inflation is expected to be confirmed at 1.1% y/y while the overall inflation rate is expected to have stood at 1.4% in January.

    * Canadian Retail Sales – Retail Sales are expected to have declined by 0.3% m/m in December, an improvement from the 0.6% declined observed in November.

    * Mario Draghi Speech – The ECB President is due to speak to the University of Bologna where he will accept an honourary degree.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Dr Nektarios Michail
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  4. #384
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    Date : 25th February 2019.

    MACRO EVENTS & NEWS OF 25th February 2019.




    FX News Today

    * A rally in Chinese equities led to a broad rise in Asian stock markets, after confirmation from US President Trump that he will delay the planned increase in tariffs on Chinese goods, which had been scheduled to start in March.

    * This saw the CSI 300 and Shanghai Comp rallying 5.58% and 5.29% respectively.

    * The Hang Seng rose 0.44%, while Topix and Nikkei gained 0.71% and 0.48% respectively, as Trump cited “substantial progress” in the talks and said that he would plan a summit meeting with China’s President Xi Jinping at his Mar-a-Lago estate to conclude an agreement, if there is additional progress.

    * More concrete signs then that trade tensions can be resolved through talks and US futures are moving higher, while the April WTI future is trading at USD 57.16 per barrel.

    * USD traded mixed at 1.1345 against the Euro and at 110.60 against the Yen.

    * No Brexit Vote this week after all but one should take place by March 12.

    Charts of the Day



    Main Macro Events Today

    * BoE Carney Speech – The BoE Governor is due to hold a press conference in London.

    * FOMC Clarida Speech – Richard Clarida is expected to participate in a moderated discussion titled “A conversation with Community Leaders” in Dallas, Texas.

    * Wholesale Inventories – The change in the total value of goods held by wholesalers is expected to stand at 0.3%, the same rate as the previous month.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Dr Nektarios Michail
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  5. #385
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    Date : 26th February 2019.

    MACRO EVENTS & NEWS OF 26th February 2019.




    FX News Today

    * Stock markets outside of mainland China headed south.

    * The first offshore default by a Chinese state owned company in 20 years sparked a fresh wave of risk aversion and concerns over the health of the Chinese economy, as it has failed to repay a US dollar bond in Hong Kong.

    * Border tensions between India and Pakistan added to the risk-off sentiment.

    * European stock futures are also heading south, in tandem with US futures, amid ongoing Brexit uncertainty.

    * German GfK consumer confidence held steady at 10.8 in the advanced reading for March, unchanged from the February reading.

    * WTI crude dropped $2.00/bbl on Pres Trump tweet “Oil prices getting too high.”

    * USDJPY fell amid risk-on theme, but still above 110.70.

    * EURUSD firmer to around 1.1350 area.

    * Gold is still unable to move decisively past the 1330 mark.

    Charts of the Day



    Main Macro Events Today

    * Inflation Report Hearings

    * UK Prime Minister Theresa May will update parliament today.

    * US Housing data – Housing starts are estimated to rise 0.3% to a 1.260 mln pace in December, following a 3.2% jump to 1.256 mln in November. Building Permits are set at 129M in December.

    * Fed Chair Powell Testifies – Fed Chairman Powell gives his semi-annual report to Congress. He will testify before the Senate Banking Committee.

    * CB Consumer Confidence – It is expected to rise to 124.0 in February, from an 18-month low of 120.2 in January, and versus an 18-year high of 137.9 in October.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  6. #386
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    Date : 27th February 2019.

    MACRO EVENTS & NEWS OF 27th February 2019.




    FX News Today

    * Asian stock markets started higher after Fed’s Powell reiterated the cautious stance at the US central bank, telling lawmakers that there is “no rush to make a judgment” on further rate hikes.

    * Traders are awaiting the second half of Powell’s testimony, while watching the US-North Korea summit, but after the sharp corrections in the second half of last year markets appear reluctant to push up too far.

    * Dollar gained some against the Euro as CB confidence rose to 131.4, compared to 124.8 last month, while GBP declined from its 1.3272 peak. The Yen continued to rally against both the Euro and the Dollar, currently trading at 110.44 with respect to the latter.

    * Topix and Nikkei closed with gains of 0.20% and 0.50% respectively, while mainland China bourses, which outperformed through much of the session, have erased gains leaving CSI 300 and Shanghai Comp down 0.56% and 0.02%.

    * Small caps underperformed and the Shenzhen Comp is down -0.87%.

    * The Hang Seng meanwhile is still hanging on to a 0.20% gain.

    * US futures are heading south while the front end WTI future lifted to USD 55.88 per barrel.

    Charts of the Day



    Main Macro Events Today

    * US Durable Goods – Durable goods orders, an important indicator of consumer spending, are expected to have grown by 0.2% in January, compared to 1.2% in December.

    * Canadian Inflation – Probably the country which usually posts the world’s most stable inflation rate, Canada is nonetheless expected to have seen its prices grow by 1.5% y/y in January, compared to 2% in December.

    * Fed Chair Powell Testifies – Fed Chairman Powell continues his semi-annual report before the Senate Banking Committee.

    * Pending Home Sales – Pending Home Sales are expected to have grown by 0.4% m/m, compared to -2.2% in December.

    * Factory Orders – Orders are expected to have increased by 0.5% m/m, compared to a 0.6% reduction in November.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Dr Nektarios Michail
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  7. #387
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    Date : 28th February 2019.

    MACRO EVENTS & NEWS OF 28th February 2019.




    FX News Today

    * Bond and stock markets came under pressure during the Asian session.

    * The US-North Korea summit ended abruptly and without any ceremony, which weighed on investor sentiment and saw stock markets heading south in Asia.

    * Chinese manufacturing PMI numbers, which fell back to 49.2 from 49.5, and escalating tensions between India and Pakistan added to the risk-off backdrop.

    * Topix and Nikkei both lost -0.79%, the Hang Seng is down -0.19%, CSI and Shanghai Comp lost -0.14% and -0.38%, but the Shenzen Comp managed to claw back some of yesterday’s marked losses.

    * The ASX and Nifty outperformed and managed slight gains.

    * US futures are also heading south, as oil prices are lower on the day and the April WTI future is trading at USD 56.76 per barrel.

    * Oil was a big mover yesterday, up and then down on reports of record US production, after the Inventories showed a draw-down of 8 million barrels against expectations of a increase off 2.8 million.

    Charts of the Day



    Main Macro Events Today

    * US GDP and PCE – US Q4 GDP is expected to have grown by 2.3% on an annualised rate, compared to 3.4% in Q3. PCE inflation is expected to have stood at 1.7%, increasing from 1.5% in the previous quarter.

    * Canada Current Account – The Canadian current account deficit is expected to have widened in the final quarter of 2018, with consensus forecasts standing at 13.5B, compared to 10.3B in the previous quarter.

    * Chicago PMI – The Chicago PMI is expected to have increased to 57, compared to 56.7 in January.

    * Tokyo Core CPI and Japan Unemployment Rate – The Tokyo Core CPI, a proxy for overall Japanese inflation, is expected to have stood at 1% y/y in February, compared to 1.1% in January.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Dr Nektarios Michail
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  8. #388
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    Date : 1st March 2019.

    MACRO EVENTS & NEWS OF 1st March 2019.




    FX News Today

    * Asian stock markets rallied driven from MSCI, weighted on Bonds.

    * MSCI Inc. announcement that will increase the weight of Chinese stocks in its global benchmarks also underpinned bourses.

    * The strong manufacturing PMI reading out of China, following on the heels of better than feared US GDP readings yesterday helped to underpin risk appetite.
    The Yen has weakened concomitantly with rising stock markets in Asia.

    * German January retail sales much stronger than expected at 3.3% m/m

    * Eurozone HICP inflation seen ticking up to 1.5% y/y from 1.4%.

    * EURUSD dropped back from 3-week highs to mid 1.13s.

    * USDJPY rallied to 10-week high of 111.80.

    * Gold slide on better US GDP, higher yields and stronger Dollar.

    Charts of the Day



    Main Macro Events Today

    * EU Final Manufacturing PMI – They are expected to confirm the overall Eurozone reading at 49.2, which would leave it in contraction territory.

    * EU CPI and core – The overall Eurozone HICP is seen ticking up to 1.5% y/y from 1.4%, while core inflation is likely to hold at just 1.1% y/y.

    * German jobless numbers – Jobless data is seen rising 1K (median -3K), which should leave the jobless rate at a record low of 5.0%

    * Canadian Q4 GDP – GDP for the last Quarter of 2018 is expected to slow to a 1.0% pace (q/q, saar) in January from the 2.0% rate of expansion in Q3, reflecting the hit from the oil price plunge during the quarter.

    * Canadian December GDP – It is seen coming in flat (0.0%) after the 0.1% decline in November, reflecting the drag on the economy from the oil producing sector.

    * US December personal income – It is projected rising 0.5% after a 0.2% rise in November, reflecting strength in December aggregate income.

    * US PCE – A -0.3% decline is seen in real PCE in December, following a 0.3% increase in November. Core PCE Price Index is anticipated at 0.2%m/m from 0.1%m/m.

    * US ISM Manufacturing PMI – The February ISM is expected to slip to 55.0 in February, but from a robust 56.6 reading in January.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  9. #389
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    Date : 4th March 2019.

    MACRO EVENTS & NEWS OF 4th March 2019.




    FX News Today

    * A report in the WSJ over the weekend that the US and China closing in on a deal, and that Trump and Xi are to meet on March 27, pushed equities up although nothing is confirmed by Beijing or Washington.

    * USA500 closed over 2800 Friday and holds gains this morning at 2813, while Nikkei closed up 1%. USD holds gains.

    * Oil big down day on Friday with a move to 55.65 from 57.50. Gold closed the week under 1300.00, with trades down at 1294.

    * Big policy week ahead, with ECB, RBA, and BoC interest rate decisions, as well as NFPs on Friday.

    * The Brexit process will remain a key focus for markets this week. Political developments in the UK last week reduced the odds for a no-deal Brexit scenario, although it has always be our conviction that this is a low-risk possibility as the UK parliament will have final say and, given the numbers and strength of view of most MPs, it is hard to conceive that a no deal would be allow to happen.

    Charts of the Day



    Main Macro Events Today

    * UK Markit Manufacturing PMI – The UK PMI is expected to have stood at 50.2 in February compared to 50.6 in January, in response to the slowdown in the world economy.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Dr Nektarios Michail
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

  10. #390
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    Date : 5th March 2019.

    MACRO EVENTS & NEWS OF 5th March 2019.




    FX News Today

    * Stock markets struggled after Wall Street closed lower on Monday.

    * US equities slumped as trade optimism gave way to fresh economic concerns after the drop in construction spending.

    * The US may lift tariffs on Chinese imports, will sign off on final deal later in the month (March 27).

    * Bloomberg also reported that some $90 bln (3%) in VAT reductions is planned by China as well.

    * China lowered its official goal for economic growth this year to 6.0% from 6.5%.

    * RBA left official cash rates unchanged at 1.50%, as expected.

    * WTI future is trading at USD 56.36 per barrel.

    * Gold dipped under $1,284 on risk-on trade, before finding prop from stock slump.

    * USDJPY off Friday’s 10-week high at 112.07.

    * EURUSD hit 1-week lows into ECB.

    Charts of the Day



    * EURUSD crossed the 20-day SMA. In the 1-hour chart, the bearish cross of 50- and 200-period EMA along with the negative configured indicators imply further declines.

    * USDJPY moves for a 3rd day above an ascending triangle, the 200-DMA and on Friday broke the 11-day Resistance. This suggests the strengthening of the positive bias.

    * GBPUSD held in an upwards channel in the daily chart despite 3 negative sessions. Intraday is below 3 MAs, while Support is at 1.3140 and 1.3110.

    * XAUUSD is extended below BB. It found Support at 1,282.80 Next Support at 1,275 and Resistance at yesterday’s peak.

    * Biggest Loser: NZDUSD forms 5 consecutive bearish daily candles, trading below the 20-day SMA, while the long low wings suggest an increasing bearish bias overall.

    Main Macro Events Today

    * EU Markit PMI Composite – The final Services PMI is expected to be confirmed at 52.3 which should leave the composite reading at 51.4, but with a slight risk to the upside after the marginal revision to the manufacturing PMI.

    * UK Service PMI – The Services PMI reading is expected to come in at 50.0, the dividing line between contraction and expansion.

    * US Home Sales – New home sales are estimated falling 8.7% in December to 600k after a 16.9% surge in November.

    * US ISM Non-Manufacturing PMI – February ISM-NMI index is forecast to rebound to 57.3 after falling 1.3 points to 56.7 in January.

    * BoE Governor Carney – BoE Carney is due to testify on Brexit, inflation, and the economy before the House of Lords Economic Affairs Committee, in London.

    Support and Resistance Levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

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    Andria Pichidi
    Market Analyst
    HotForex

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