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#941
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Date : 10th April 2019.

MACRO EVENTS & NEWS OF 10th April 2019.

Macro Events & News
By
Dr Nektarios Michail
-
April 10, 2019

2019-04-10_08-58-15-696x622.png 
FX News Today

  • 10-year Treasury yields are down -1.4 bp at 2.486% as JGB yields fell back -0.4 bp to -0.063%.
  • The IMF’s growth downgrade has rekindled concerns about the outlook for the world economy and the US threat of new tariffs on imports from Europe has reminded markets that geopolitical trade tensions are far from resolved and put a stop to the rally in recovery in stock markets seen over the past week.
  • China’s bond yield rose to the highest this year as risk aversion flared up and the focus increasingly turns to China’s still large number of non-performing loans.
  • Markets are also looking to Europe today, where the EU has to make a decision on yet another Brexit extension. The IMF named Brexit as one of the risks to world growth.
  • Wall Street closed in the red and Asian markets also headed south, with Topix and Nikkei down -0.73% and -0.66%. The Hang Seng lost -0.34% so far and CSI 300 and Shanghai Comp are down -0.10% and -0.14%.
  • US stock futures, however, are posting marginal gains, after yesterday’s correction on Wall Street.
  • The front end WTI future meanwhile continues to hold above USD 64 per barrel.

Charts of the Day
2019-04-10_09-03-39-1024x441.png
Technician’s Corner

  • EURUSD started moving upwards on early Wednesday, following the Brexit positive news, with both Stochastics and the MACD showing support for this movement.
  • GBPUSD has been fluctuating in the 1.3026-1.3067 range for the past hours, also bounded by the 200HMA at 1.3082. Stochastics and the MACD support an upwards movement.
  • USDJPY broke through the 200HMA, now at 111.31 early yesterday, but has been moving in a slight upwards trend after the worse than expected machinery orders for February. Indicators support the movement.
  • XAUUSD broke through the 1300 mark but is still bounded by the 1304 Resistance, with indicators appearing indecisive regarding the future trend in the pair.

Main Macro Events Today

  • UK Manufacturing and Industrial Production and GDP (GBP, GMT 08:30) – Manufacturing production is expected to have declined by 0.7% y/y on February, compared to -1.1% in January. Industrial Production is expected to have eased to 0.1% m/m compared to 0.6% m/m last month, while UK GDP for February is forecast to register zero growth m/m, down from 0.5% m/m in January.
  • ECB Interest Rate Decision (EUR, GMT 11:45) – No changes are expected in the ECB policy rate, even though some policy guidance should be offered, especially with regards to future rate hikes.
  • US CPI Inflation (USD, GMT 12:30) – Core CPI is expected to have remained at 2.1% y/y, close to the Fed’s 2% target. The overall index is forecast to rise to 1.8% compared to 1.5% in March.
  • European Council Summit on Brexit (EUR-GBP, GMT 16:00) – The future of Brexit is expected to be discussed in the summit, with the EU said to offer a “flextension” until either December 2019 or March 2020, even providing the UK with the opportunity to withdraw its application for leaving the EU.

Support and Resistance
2019-04-10_09-01-52.png 

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.


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#942
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Date : 11th April 2019.

Macro Events & News
By
Dr Nektarios Michail
-
April 11, 2019
2019-04-11_09-09-37-696x355.png
FX News Today

  •  
    • Treasury yields stabilised after falling yesterday in the wake of softer core CPI readings, while the US 10-year rate is up 0.5 bp at 2.470%.
    • 10-year JGB yields fell back -0.2 bp to -0.068% in catch up trade and as stock market sentiment remains muted.
    • Indices traded mixed with Chinese markets underperforming.
    • Dovish leaning central banks revived growth concerns and geopolitical trade tensions also continue to hang over markets, with no tangible sign of a US-Sino trade deal.
    • The Brexit question was kicked down the line to October 31, but without a clear solution in sight.
    • Topix and Nikkei are down 0.4 bp and up 0.08% respectively, while Hang Seng and Shanghai Comp lost -0.88% and -1.31%. The CSI 300 blue chip index is down -1.99% and the ASX closed with a loss of -0.36%.
    • US futures are also marginally in the red, while the front end WTI future is trading at USD 64.25 per barrel.
Charts of the Day
2019-04-11_09-07-52-1024x441.png
Technician’s Corner

  •  
    • EURUSD broke through the 1.1276 level in the last few hours, with soft Resistance at 1.1286 and strong resistance at 1.13. Stochastics and the MACD show mixed signals.
    • GBPUSD gained as news of the decision to delay Brexit was announced, even though whether it can persist above the 200HMA level of around 1.3086 is still unclear. Indicators show an easing of the trend.
    • USDJPY continues to trade below the 200HMA, now at 111.11 with both the Stochastics and the MACD showing support for an upwards trend.
    • XAUUSD broke 1304 after breaking the 1300 mark yesterday, currently trading between the 1309 and 1304 levels. Indicators again appear indecisive regarding the future trend of the pair.
Main Macro Events Today

  •  
    • US PPI ex Food & Energy (USD, GMT 11:30) – The US PPI is expected to have grown by 2.4% in March, compared to 2.5% last month, similar to the core CPI results yesterday.
    • Jobless Claims (USD, GMT 11:30) – Initial Jobless Claims are expected to have increased to 211K, compared to 202K in the last week of March, while Continuing Jobless Claims are forecast to reach 1.738M against 1.717M last week.
    • Fedspeak: Clarida, Williams, Bullard, and Bowman (USD, Various) – All 4 FOMC Members are due to speak on monetary policy issues, a topic which is likely to affect markets, depending on the context.
Support and Resistance
2019-04-11_09-08-58.png

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 permiss

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#943
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Macro Events & News
By
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April 12, 2019
2019-04-12_08-53-33-696x277.png
FX News Today
  • 10-year Treasury yields are unchanged at 2.497% and JGB yields up 0.6 bp at -0.059%, in catch up trade, after perky US PPI readings put pressure on bonds yesterday, even if they are not expected to alter the Fed’s patient policy setting for now.
  • Chinese bonds continue to underperform amid warnings on the still large number of non-performing loans that could threaten some banks and force the government to step in.
  • Stock markets traded mixed, again with China underperforming, as markets await key trade numbers. Topix and Nikkei are down -0.10% and up 0.67% respectively.
  • The Hang Seng lost -0.27% so far and CSI 300 and Shanghai Comp are down -0.49% and -0.26% respectively.
  • Reports of impending cost cuts at Australia’s largest bank meanwhile helped the ASX to close with a gain of 0.76%.
  • US futures are posting slight gains ahead of key earnings reports from JPMorgan Chase and Wells Fargo. The front end WTI future is trading at USD 63.83 per barrel.
Charts of the Day
2019-04-12_08-57-01-1024x441.png
Technician’s Corner
  • EURUSD keeps trading above the 1.1276 level in the last few hours, after trading below that point through the night. A strong Resistance point remains at 1.13. Stochastics and the MACD show signals of a downwards move.
  • GBPUSD keeps trading around the 1.30 mark, crossing its 20HMA early today, but with indicators showing mixed signals.
  • USDJPY continues to increase and broke through the 111.68 level, and coming near the 111.80 Resistance. Stochastics and the MACD show an easing of the upwards movement.
  • XAUUSD had a bad day yesterday, breaking through four Support levels and ending below 1294. Since then, it has been registering a slow upwards trend, something more evident in the Stochastics than the MACD indicator.
Main Macro Events Today
  • China Imports and Exports (CNH, AUD, N/A) – Even though no exact time has been specified, China’s trade performance is expected to have a strong effect on its currency and the Aussie. Exports are expected to have increased, after a sharp decrease last month, while imports are still expected to have shown negative growth.
  • Industrial Production (EUR, GMT 09:00) – Industrial Production is expected to have decreased by 0.6%, compared to growth of 1.4% in January.
  • Michigan Consumer Sentiment Index (USD, 14:00) – US Sentiment is expected to decline to 98.0 in April, compared to 98.4 in March.
Support and Resistance
2019-04-12_08-52-58.png
 
Click here to access the Economic Calendar
 
Dr Nektarios Michail
 
Market Analyst
 
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.

 


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#944
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Date : 15th April 2019.

MACRO EVENTS & NEWS OF 15th April 2019.

By
Andria Pichidi
-
April 15, 2019
london_1200x628-696x364.png 
FX News Today

  • The broad rise in Asian long yields holds as local stock markets rallied in catch up trade after a strong close on Wall Street.
  • Trade talk hopes, signs of improving growth and low inflation, coupled with positive earnings reports continued to underpin stock market sentiment. Mnuchin suggested over the weekend that US-Sino talks are nearing the final round and that the final agreement would go “way beyond” previous efforts to open China’s markets to US companies.
  • US futures are narrowly mixed while European stock markets are underpinned.
  • Japanese markets are closing for 10 consecutive days from April 27 to May 6, inclusive.
  • After the strong first quarter earnings report from JPMorgan on Friday the focus is now turning to Goldman Sachs, Citigroup and Bank of America.
  • The front end WTI future is trading at $63.53 per barrel.
  • USD and JPY lower vs most currencies, risk appetite up on strong China import data.
  • GBP steady after EU Brexit extension; risk is it won’t resolve UK political gridlock.

Charts of the Day
2019-04-15_09-51-04.jpg
Technician’s Corner

  • EURUSD keeps trading close to 3-week highs of 1.1323. Stochastics, RSI and the MACD show signals of further improvement intraday. Next Resistance point holds at 1.1330.
  • GBPUSD pulled back under 1.3100 after leaving a high at 1.3120. It is supported from the confluence of 200-period EMA and PP level the past 7 consecutive hours, at 1.3084. Next Support is set at 1.3065.
  • USDJPY settled at around PP level at 111.90 . However after Friday’s high the positive sentiment is decreasing with intraday RSI and MACD turning lower as the overall outlook remains positive. The upside Resistance level is set at 112.19, while Support now comes in at 111.68.

Main Macro Events Today

  • FOMC Member Evans Speaks – Federal Reserve Bank of Chicago President Charles Evans is due to speak in a television appearance on CNBC’s Squawk Box.
  • BOC Business Outlook Survey – The BoC’s outlook survey is expected to show an economy still moving along at a decent pace, but facing a number of challenges. This is a key report for the upcoming BoC announcement and MPR, as the Bank makes frequent references to the findings of the survey. A survey consistent with modest but still respectable growth, well contained inflation expectations and an unwinding in capacity pressures would line-up with our expectation for no change in rates later this month and through year-end.
  • Empire State index – It is estimated to jump to 9.0 in April from a 2-year low of 3.7 in March.

Support and Resistance
2019-04-15_09-50-02.jpg 


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.


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#945
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Date : 16th April 2019.

MACRO EVENTS & NEWS OF 16th April 2019.

Macro Events & News
By
Andria Pichidi
-
April 16, 2019
2019-04-16_09-01-03-696x590.jpg 
FX News Today

  • A mixed picture on Asian bond markets as Stock markets were mostly higher, while Japanese indices fell back from early lows and Chinese indices rallied in the second part of the session.
  • A lacklustre Bank earnings report yesterday saw some investors turning cautious again and in Asia many will be waiting for Chinese GDP numbers tomorrow.
  • US futures are moving higher, with the Dow Jones future up 0.239%.
  • The front end WTI future is trading at USD 63.27 per barrel.

Charts of the Day
2019-04-16_09-15-18.jpg
Technician’s Corner

  • EURUSD settled to narrow orbit of 1.1300, consolidating with MACD, and RSI been flattened in the neutral zone confirming the lack of direction. Resistance is set at PP level at 1.1306 and Support is at the latest low 1.1292.
  • USDCAD edged higher at 1.3395, holding inside recent ranges, as crude oil slumped $0.50. As it is set for a 2nd trading day above 20-day MA with upper Bollinger bands extending to the upside, a retest of the next Resistance levels at 1.3405 and 1.3440 could be seen.
  • USDJPY found support again under the 112.00 mark, after topping at 112.03overnight. A move over the March 5 high of 112.13 could take the pairing to near 4-month highs. Support now comes in at 111.79.

Main Macro Events Today

  • Earnings and Unemployment Rate – Average Earnings are expected to have remained at 3.4% while the unemployment rate is expected to have increased to 4%.
  • German ZEW – The ZEW investor sentiment is expected to lift out of negative territory in the April reading and rise to 0.5 from -3.6 in March, which would be a continuation of the improvements in recent months and suggests that pessimists no longer outnumber optimists.
  • US Industrial Production – March industrial production is projected to rise 0.2%, after a flat February reading, and capacity utilization should edge up to 79.2% from 79.1%.
  • NZ CPI Inflation – New Zealand’s inflation rate is expected to have declined to 1.8% y/y compared to 1.9% y/y in the final quarter of 2018.
  • Trade Balance – The Japanese trade balance is expected to turn out positive in March, standing at 310 billion Yen, compared to 335 billion Yen in February.

Support and Resistance
2019-04-16_09-34-04.jpg 
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.


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#946
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Date : 17th April 2019.
 
MACRO EVENTS & NEWS OF 17th April 2019.
 
2019-04-17_09-27-45.png
 
FX News Today
 
* 10-year Treasury yields are up 0.7 bp at 2.598% and JGB yields climbed 1.8 bp to -0.015%, as stock market sentiment got a boost from Chinese data releases that beat expectations.
 
* Chinese GDP growth came in at 6.4% y/y, in the first quarter, unchanged from Q4, while production surged 8.5% y/y and retail sales 8.7% y/y.
 
* Data were taken as a sign that the government’s stimulus measures are starting to take effect. While it may be too early to call the all clear on the world economy, together with signs that US-Sino trade talks are making progress, 
* the data will go some way to bolster confidence, especially after positive surprises on credit and housing data last week.
The data underpinned Asian stock markets, as Topix and Nikkei posted gains of 0.29% and 0.27% respectively. The Hang Seng is up 0.01% and CSI 400 and Shanghai Comp gained 0.11% and 0.34%.
 
* Broader Asian indices are at the highest level since last July, even as the ASX underperformed and closed with a loss of -0.35%, dragged down by the materials sector.
 
* US futures are also posting broad gains and the front end WTI future has moved up to now USD 64.50 per barrel.
 
Charts of the Day
 
2019-04-17_08-58-09-696x299.png
 
Technician’s Corner
 
* EURUSD moved past 1.13 early today and has been moving towards the 1.1315 Resistance level. Key Resistance remains at 1.1320 while the Support at 1.1279 is still strong after being hit twice yesterday. Indicators support an upwards move.
 
* GBPUSD has been moving downwards but is so far unable to break through the psychological 1.30 level, fluctuating around the 1.3067-1.3026 levels. Indicators are giving mixed signals.
 
* USDJPY found support again under the 112.00 mark, and continued to trade there yesterday, with the Japanese data releases causing only some volatility. Indicators are showing mixed signals.
 
* XAUUSD is trading at lows, after breaking through the 1285 Support level. Gold appears unable to break through the 1275 level, with the MACD and Stochastics showing upwards signals.
 
Main Macro Events Today
 
* UK RPI and CPI inflation (GBP, GMT 08:30) – Both the RPI and the CPI are expected to have declined in March, reaching 2.1% and 1.6% respectively, down from 2.5% and 1.9% respectively.
 
* EU CPI inflation (EUR, GMT 09:00) – Both the core and the overall CPI inflation rates are expected to have remained at the same levels, at 0.8% and 1.4% respectively.
 
* Canada CPI Inflation (CAD, GMT 12:30) – The BoC Core price index is expected to have remained at 1.3% y/y, while the overall CPI index is forecast to rise to 1.9% y/y in March compared to 1.5% in February.
 
Support and Resistance Levels
 
2019-04-16_09-34-04.jpg
 
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!
 
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.

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#947
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Date : 18th April 2019.

MACRO EVENTS & NEWS OF 18th April 2019.


2019-04-18_09-16-57.png

FX News Today

  • 10-year Treasury yields corrected -2.7 bp to 2.567% and JGB yields are down -1.4 bp at -0.0033%.
  • Asian bonds were generally supported, as stock markets sentiment turned sour again, with South Korean paper underperforming after the BoK left interest rates unchanged, but cut its growth and inflation forecast to 2.5% and 1.1% respectively.
  • Record household debt was one of the factors holding the BoK back from cutting rates for now, and South Korea’s 10-year yield jumped 5.9 bp as the bank tried to calm recession fears.
  • Stock markets generally corrected from the six months high seen yesterday with uninspiring corporate earnings and problems with a new Samsung phone preventing further gains for now.
  • Topix and Nikkei lost -0.96% and -0.80% respectively, after Wall Street closed with slight losses.
  • The Hang Seng is down -0.58%, CSI 300 and Shanghai Comp down -0.44% and -0.39% respectively. The ASX dropped -0.10% and US stock futures are also broadly lower, suggesting ongoing pressure on markets.
  • The front end WTI future meanwhile is trading at USD 63.77 per barrel.

Charts of the Day

2019-04-18_09-15-07-1024x440.png

Technician’s Corner

  • EURUSD is still trading around the 1.13 level, and in a channel with key Resistance at 1.1320 and Support at 1.1279. Both are still strong after having bounced yesterday. Indicators are issuing mixed signals.
  • GBPUSD has been stable around the 1.30 level, still unable to break through, fluctuating between the 1.3067-1.3026 Resistance and Support levels. Indicators are giving positive signals.
  • USDJPY started the day below 112.00 mark, as indicators are suggesting a downwards movement. Support remains at 111.80.
  • XAUUSD is trading at year-to-date lows, after breaking through the 1275 Support level. 1270 is the next Support level, with indicators are showing signs of stabilization.

Main Macro Events Today

  • EU PMIs (EUR, GMT 08:00) – Manufacturing and Composite PMIs are expected to increase in April, to 47.9 and 51.8 respectively while the Services PMI is forecasted to have remained at 53.3.
  • Retail Sales ex Fuel (GBP, GMT 08:30) – UK Retail Sales ex Fuel are expected to have increased to 4% y/y, compared to 3.8% y/y in March.
  • Retail Sales ex Autos (USD, GMT 12:30) – Retail Sales are expected to have increased to 0.4% in March, up from the negative 0.2% surprise in February.
  • Retail Sales (CAD, GMT 12:30) – Retail Sales are forecasted to have registered an increase in Canada as well, to 0.2% compared to 0.1% in January.
  • Philly Fed Index (USD, GMT 12:30) – Philly Fed index is expected to have eased to 10.3 compared to 13.7 in March.
  • Markit PMIs (USD, GMT 13:45) – Mixed signals are expected from the PMI release, as Manufacturing is expected to have increased to 52.8 from 52.4, while the Services PMI is expected to have declined to 55 from 55.3.

Support and Resistance
2019-04-18_09-33-48.png

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.


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#948
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Date : 19th April 2019.

MACRO EVENTS & NEWS OF 19th April 2019.


2019-04-19_09-07-20-696x128.jpg

FX News Today

  • Wall Street was higher overnight, with the Dow up 0.4% and outperforming on the back of strong retail sales data and better earnings from Travelers and American Express.
  • Core European bourses were mixed, with the DAX up nearly 0.6%, the CAC 40 up 0.3%, and the FTSE slightly underwater.
  • Japan released its March national CPI, which as expected remained well below the 2% BoJ’s target. The overall rose to 0.5% y/y from 0.2%, and the core is at 0.8% from the 0.7% y/y.
  • The Japanese inflation supports once again the BoJ’s large-scale easy monetary policy.
  • The US, Canada, the UK and several other European and Asian markets are closed for Good Friday, with Europe remaining shut for Easter Monday. Only Japan is open from the Asia trading centres.

Charts of the Day
2019-04-19_09-19-49.jpg
Technician’s Corner

  • EURUSD is still trading below the 1.13 level, retracing nearly 23% of yesterday’s losses. The April low of 1.1184, then the March 7 bottom of 1.1177 will be in the cross hairs in the coming sessions if we face a move below 1.1220.
  • GBPUSD has been stable at the upper 1.29 level, still unable to break through 1.30, fluctuating between the 1.3006 and 1.2960, which are Resistance and Support (PP) level respectively. Indicators are giving negative signals.

Main Macro Events Today

  • Housing Data (USD, GMT 12:30) – Both Building Permits and Housing Starts are expected to have increased in March, by 1.299M and 1.230M respectively, up from 1.291M and 1.162M in February.

Support and Resistance
2019-04-18_09-33-48.png 

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.

 

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#949
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Date : 22nd April 2019.

Events to Look Out for Next Week.


events_1200x628-1-696x364.png

The shortened week starts with just one piece of news on Monday and Tuesday from the US, while Wednesday will be in focus as the UK Parliament returns from its Easter recess. US Durable Goods are out on Thursday along with the BoJ rate decision.

Wednesday – 24 April 2019

  • CPI (AUD, GMT 01:30) – Australia’s inflation rate for Q1 is expected to have declined slightly to 1.7% y/y compared to 1.8% y/y in the final quarter of 2018.
  • IFO (EUR, GMT 08:00) – Business climate in the largest EU country is expected to have grown marginally to 99.9 compared to 99.6 last month.
  • Event of the week – BoC Interest Rate Decision (CAD, GMT 14:00) – At the BoC meeting, consensus expectations are that there should be no interest rate change. A sharper and more broadly based slowdown in the domestic economy, alongside a slowing in the global economy that has been more pronounced and widespread than anticipated saw the Bank state “the outlook continues to warrant a policy interest rate that is below its neutral range.”

Thursday – 25 April 2019

  • Event of the week – Interest Rate Decision (JPY, GMT 02:00) – Among the core central banks, BoJ is firmly poised to be “low for longest”. Hence, once again BoJ is expected to keep the interest rate as it is, given that it appears to have finally had an impact on the Japanese economy.
  • Durable Goods (USD, GMT 12:30) – March durable goods orders are expected to rise 0.2%, following a 1.6% February decline. Shipments expected to fall 1.5% in March, after a 0.2% reading in February.
  • Tokyo CPI and Production Data (JPY, GMT 23:30) – The country’s main leading indicator of inflation is expected to have remained at 1.1% y/y in April. Industrial Production is expected to have improved, growing by 0.6% m/m in March, compared to -1.1% m/m in February, while Retail Sales are expected to have increased by 1.2% y/y, compared to 0.6% in March.

Friday – 26 April 2019

  • US Gross Domestic Product (USD, GMT 12:30) – The economy’s most important figure, Q1 GDP is expected to rise 2.6%, following a 2.2% pace in Q4 and 3.4% growth in Q3.

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.

 

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#950
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Date : 2nd May 2019.

MACRO EVENTS & NEWS OF 2nd May 2019.


2019-05-02_09-37-15-696x518.jpg

FX News Today

  • Asian stock markets traded mixed in quiet trade, with China and Japan still on holiday.
  • The Fed held rates steady, as expected but it dealt a blow to hopes of an “insurance” rate cut, while stressing patience and data dependence for the policy outlook.
  • Fed chair Powell indicated that low inflation might be transitory, and that global growth concerns had eased.
  • The USA30 was down -0.61% at the end, the USA500 lost -0.75%.
  • The ASX also dipped -0.74% after the nation’s biggest lender cut its dividend, but benchmarks in South Korea and Hong Kong ticked higher after reports from CNBC saying the US and China could announce a trade deal as soon as next Friday.
  • Oil prices fell to USD 63.39 overnight with US stockpiles weighing.
  • Gold futures rallied slightly after the FOMC announcement, as the USD fell, and yields headed lower, topping at $1,289.05 from $1,285.00. The contract later fell under $1,275.00, a one-week low.
  • Sterling has outperformed for a 2nd day, floated by optimism on the Brexit front.

Charts of the Day
2019-05-02_09-36-32.jpg
Technician’s Corner

  • GBPUSD has Support at 1.3010, and Resistance at 1.3103, the latter levels encompassing the current situation of the 50-day moving average.
  • XAUUSD is trading below 1,272.00. after Fed chair Powell indicated that low inflation might be transitory, and that global growth concerns had eased. This saw the USD and Treasury yields head higher, both weighing on gold prices. Given the strong ADP number, the USD expected to remain underpinned into tomorrow’s release of the April US payrolls report.
  • EURUSD fell from a high of 1.1264 to a post-Powell low of 1.1187 before settling to a narrow range around 1.1200. Support holds at 1.1160-1.1185 and REsistastance is set at 1.1210-1.1215.

Main Macro Events Today

  • Interest rate Decision and Conference (GBP, GMT 11:00) – BoE should remain on hold now until the Brexit D-day. If the transition runs smoothly we might see another 25 bp hike in May 2019. The BoE has cautioned that the outlook will “depend significantly on the nature of EU withdrawal,” and noted that “uncertainty has intensified.” Thus, consensus forecasts suggest no change in the policy rate in this meeting and an unchanged 9-0 MPC voting.
  • US Q1 Nonfarm Productivity (USD, GMT 12:30) – Q1 productivity should post a 1.2% rate of growth, down from 1.9%, with unit labor costs rising 2.3% from 2.0%.

Support and Resistance
2019-05-02_09-38-20.jpg 

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
Head 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.

 

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#951
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Date : 3rd May 2019.

MACRO EVENTS & NEWS OF 3rd May 2019.


2019-05-03_09-11-56-696x383.jpg

FX News Today

  • Stock markets mostly managed slight gains in quiet trade across Asia as Japan and mainland China remained closed for holidays and with investors positioning for the US jobs report.
  • BoE yesterday warned that in the central scenario of a smooth Brexit transition rates will have to go up more and faster than markets currently expect.
  • Overnight big drop in Australian Building approvals as the market corrected from a big rise in February.
  • Earnings also remained in focus with better than expected profits reported by HSBC helping to underpin shares in Hong Kong while a profit warning from Macquarie weighed on the ASX.
  • US stock futures are also moving higher after closing broadly lower on Thursday, following alongside Treasury yields as the market further digested yesterday’s signal from the Fed that a rate cut is not on the menu this year.
  • US-Sino trade talks also remain in focus and will add to volatility until a deal is finally on the table.

Charts of the Day
2019-05-03_09-25-20.jpg
Technician’s Corner

  • EURUSD touched a low of 1.1165 into the London open. The pair dropped nearly 100 points from the highs, while the close yesterday under the 1.1200 mark suggests an increasing bearish bias for the Euro. Resistance now sits at 1.1200, or further up to 1.1220 (20 DMA), with Support at 1.1145, the April 29 low.
  • USOIL failed to recover yesterday. It remains down nearly 4%, bottoming so far at $61.03. Price weakness has come following the EIA reporting US inventories at near 2-year highs on Wednesday. Supplies are expected to increase further in the next month, as refinery maintenance curbs crude demand. Hence, the $60.50 level is now a key Support, representing both the 50- and 200-day MAs.

Main Macro Events Today

  • Consumer Price Index (EUR, GMT 09:00) –The Euro Area CPI is expected to come out at 1.6% y/y, above March’s outcome.
  • NFP and Labour Market Data (USD, GMT 12:30) – April nonfarm payrolls are expected to have stood by 190k, with a 180k private payroll gain. Hourly earnings are expected to rise 0.3% for a y/y gain of 3.3%, up from 3.2% in March.

Support and Resistance
2019-05-03_09-53-38.jpg

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
Head 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.

 

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#952
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Date : 6th May 2019.

MACRO EVENTS & NEWS OF 6th May 2019.


2019-05-06_09-24-56-696x185.jpg

FX News Today

  • Japan remains closed for holidays.
  • Elsewhere, China’s April services PMI is due, seen at 54.5 from 54.4.
  • In the Asia region risk aversion spiked after US President Trump issued threats of new tariffs on imports from China in a bid to up the pressure in trade negotiations.
  • Chinese Vice Premier Liu He is scheduled to return to Washington for trade talks on Wednesday, but after Trump’s threat China is now considering cancelling this week’s round of talks.
  • North Korea launched missiles over the weekend, which included the first ballistic missile launch since 2017; this saw investors heading for safety.
  • Treasury futures are allying, while yields across Asia are plummeting sharply and stocks selling off.
  • Australia’s 10-year bond yield fell nearly 5 bp amid the general flight for safety and as markets position for a rate cut ahead of tomorrow’s RBA decision.
  • US futures are posting losses in the region of 1.8-1.9%.
  • The front end WTI future is trading at USD 60.45 per barrel.

Charts of the Day

2019-05-06_09-24-16.jpg


Technician’s Corner
 

  • EURUSD retested 1.1200 highs, up from the 1.1135 lows seen immediately after the US jobs report. The Dollar overall took a hit on Friday and again today. Though the pair closed the week with modest gains (bullish weekly candle), it remains well off of Wednesday’s high of 1.1265 and within the lower BB area, while intraday indicators have been flattened suggesting intraday consolidation. The Resistance comes in at 1.1228, the 20-day MA and Support at 1.1166. As the US economy is in a solid growth with low inflation sweet spot, the EURUSD is seen following the 1-year downchannel forming lower highs and lower lows.
  • AUDUSD fell below the round 0.7000 level below to recover yesterday. As Bollinger Bands extend southwards and momentum indicators are sloping towards oversold barrier, another negative session along with the continuation of lower highs, implies a move towards 0.6800-0.6900 area.

Main Macro Events Today
 

  • Markit Composite PMI and Retail Sales (EUR, GMT 08:00-09:00) – The EU Composite PMI is expected to remain at the three-month low of 51.3 in April, while Retail Sales are forecast to slip to 0.1% m/m in March, with the annual rate decelerating to 2.3% y/y from 2.8% y/y.
  • Fed speeches – Fed reports its Senior Loan Officer Survey. Fed President Harker discusses the economic outlook.

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
Head 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.


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#953
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Date : 7th May 2019.

MACRO EVENTS & NEWS OF 7th May 2019.


2019-05-07_09-28-15-696x404.jpg

FX News Today

  • Stock market still struggled during the Asian session though and European stock futures are down on the day, as are US futures, although the latter managed to pare some of their overnight losses.
  • RBA left cash rate unchanged at 1.5% for now, as federal election looms. The ASX was knocked off highs.
  • Trump’s top trade negotiator meanwhile confirmed that Washington plans to go ahead with tariff hikes on Chinese goods on Friday.
  • China vice-premier Liu Hewill visit Washington on May 9-10.
  • Indices in China and Hong Kong, which started stronger started to pare gains leaving the Hang Seng down -0.11%, the CSI 300 up 0.15% as of 5:32GMT, versus losses of -1.29% and -1.61% in Topix and Nikkei. .
  • WTI future managed to climb to USD 62.29.
  • German manufacturing orders rebounded 0.6% m/m, -4.0% m/m contraction in the previous month, and showed a sharp decline in orders inflow in the first quarter of the year, highlighting the impact of geopolitical trade tensions on the manufacturing sector in particular.

Charts of the Day
2019-05-07_09-26-51.jpg
Technician’s Corner

  • USA500 rebounded from 2882 lows, up to 2927 area. As the asset sustains gains above the 20-day MA, with momentum indicators positively configured, the next Resistance area comes at 2848-2960. Support is set athe PP of the day and also the low of the day at 2909.78. RSI is at 57 and sloping higher, in contrast with MACD which suggest weakness of the positive momentum.
  • USDJPY recovered from the 1-month low of 110.28 s topping at 110.95 in late NY morning trade. Currently is consolidating around PP level at 110.65. As yesterday’s candles closed outside Bollinger Bands area pointing an oversold asset, while 50- and 200-day MAs have been flattened implying to a near-term ranging market, the asset is expected to enter a consolidation mode. Resistance is now at Friday’s 111.07 low, though the downturn in US Treasury yields may limit gains going forward.

Main Macro Events Today

  • Ivey PMI (CAD, GMT 14:00) – A survey of purchasing managers, the Index provides an overview of the state of business conditions in the country. Expectations suggest that the Index will decline to 51.1 compared to 54.3 last month, although still remain above 50.
  • BoJ Minutes (JPY, GMT 23:50) – BoJ Minutes are expected to shed more light as to how Japanese policymakers are assessing the current global slowdown and whether they plan any further policy actions.

Support and Resistance levels
2019-05-07_09-49-35.jpg

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
Head 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.

 

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#954
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Date : 8th May 2019.

MACRO EVENTS & NEWS OF 8th May 2019.


2019-05-08_09-19-18-696x343.jpg

FX News Today

  • The RBNZ became the first central bank in the developed world to begin loosening policy this cycle. NZDUSD drifted to 6-month low at 0.6525.
  • German industrial production unexpectedly rose 0.5% m/m in March.
  • Given the correction in orders in Q1 and manufacturing PMI readings that show the manufacturing sector in recessionnot just in Germany, the better than expected German production number for March doesn’t change the overall picture of weakness in a sector that clearly is pressured by the combination of geopolitical trade tensions and Brexit jitters, with no sign of improvement, despite today’s upside surprise in the headline reading.
  • The weaker than expected trade data out of China showed exports contracting and the trade surplus falling sharply added to ongoing concerns about developments in world trad.
  • Brexit fatigue has driven the pound lower vs most other currencies today
  • The front end WTI future is trading at USD 61.78 per barrel.

Charts of the Day
2019-05-08_09-29-17.jpg
Technician’s Corner

  • EURUSD dropped to lows under 1.1170 after opening near 1.1200. The downward move came partly on safe-haven flows into the Dollar. Resistance comes at 1.1222, the 20-day MA, with support seen at 1.1135, Friday’s low.
  • USDJPY has fallen to 110.16 lows, just below Monday’s 1-month base of 110.29. The pairing has been weighed down by another risk-off session, related to the escalating US/China trade war. Wall Street is sharply lower, while Treasury yields are down again today as well. Further equity losses will likely see the Dollar head below yesterday’s low, which them brings the March 25 bottom of 109.70 into focus

Main Macro Events Today

  • Canadian Housing Starts – April housing starts are expected to improve to 195.0k from 192.5k in March.

Support and Resistance levels
2019-05-08_11-24-13.jpg 

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.

 

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#955
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Date : 9th May 2019.

MACRO EVENTS & NEWS OF 9th May 2019.


2019-05-09_09-25-12-696x318.jpg

FX News Today

  • US President Trump confirmed that tariffs on a large chunk of China imports will rise to 25% on Friday from currently 10%, saying that China “broke the deal” and would pay.
  • Fears that the hard line stance on China will also put the spotlight on imports from other countries put pressure on automakers in Japan and will also keep European stock markets in suspense.
  • European stock futures are heading south in tandem with US futures, after a broad sell off in Asia.
  • Ongoing Brexit jitters are adding to the risk-off backdrop in Europe, with no breakthrough in cross-party talks on a Brexit deal in sight and RICS house price data overnight showing that the housing market remains pressured.
  • The WTI future is trading at USD 61.67 per barrel.

Charts of the Day
2019-05-09_09-37-11.jpg
Technician’s Corner

  • EURUSD is moving higher into the EU session. It is currently retesting the 1.1200 area. The Euro was supported by stronger German industrial production released overnight, though the Dollar has since perked up slightly on safe-haven flows, as the US and China continue to play chicken with trade negotiations. EUR-USD resistance comes at 1.1217, which represents the 20-day moving average, with support at Tuesday’s 1.1167 low.
  • EURCHF has settled into a choppy consolidation centred on 1.1400 after a 4-week rally, bellow the 6-month peak at 1.1476 in late April. The pronounced Swiss Franc underperformance that was seen during most of April was accompanied by narratives talking about the market being in the process of giving up on the Franc’s role as a safe haven currency, which has been afflicted by the SNB’s -0.75% deposit rate, and which finally seemed to have elicited down-weighting of Franc by reserve and portfolio overlay managers. On the year-to-date, the Swissie remains down by over 3.5% against the Dollar and by nearly 1.5% versus the Euro. Overall, Swiss policymakers’ efforts to both weaken the Franc and dethrone the currency from its safe-haven status look to be working.

Main Macro Events Today

  • Trade Balance (USD, GMT 12:30) – Although less important than in other economies, the US trade balance still provides a useful overview of the overall economy and the Dollar supply in the world, especially as reducing it has been one of Trump’s main targets. Still, consensus forecasts suggest that the shortfall should widen slightly to -$49.9 bln from -$49.4 bln in February. A 0.7% rise for exports to $211.2 bln is expected and a 0.8% increase for imports to $261.1 bln.

Support and Resistance levels
2019-05-08_11-24-13.jpg 

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.


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#956
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Date : 10th May 2019.

MACRO EVENTS & NEWS OF 10th May 2019.


2019-05-10_09-21-05-696x565.jpg

FX News Today

  • Trading remained nervous ahead of the Friday deadline on tariff hikes.
  • While comments from US President Trump that an agreement is still possible initially saw stock markets rallying in Asia, caution has since made a comeback as investors react to headlines.
  • Japanese markets erased earlier gains and fell back into negative territory before stabilizing, and Topix and Nikkei are down -0.18% and 0.47% respectively as of 05:39GMT.
  • The front end WTI future meanwhile is trading at USD 61.92 per barrel.
  • German exports rebound in March – German trade data at the start of the session is showing another solid surplus in March and Q1, amid lingering fears that the focus of the US administration will once again turn to stagnant US-EU trade talks.
  • European stock futures are moving higher, while US futures recovered most of their overnight losses and are little changed on the day, as it seems markets are set to buy into hopes that a deal will be reached eventually.

Charts of the Day
2019-05-10_09-20-24.jpg
Technician’s Corner

  • USDJPY has been pushed down to 109.51. Another severe session of risk-off has weighed, with both Wall Street and Treasury yields getting hammered, keeping the pressure on the pairing. The pair managed to find some ground ahead of the EU session, and hence it is currently moving above PP level. However, as the overall outlook remains bearish, the February 4 low of 109.43 remains the next downside Support level, with a break there set to test the 109.00 level.
  • USDCAD rallied to 2-week highs of 1.3505, finding support from modest Oil price losses, and a generally firmer USD. Light buy-stops were noted on the break of 1.3500, though follow through was limited. USDCAD is rangebound between 1.3505 and 1.3430. April highs of 1.3516-1.3521 will need to be eclipsed to shift sentiment to a more bullish stance, otherwise overall consolidation holds.
  • USOIL has remained rangebound, sticking inside of Monday’s trading band, between $60.00 and $62.92. Concerns over the US/China trade war have kept a lid on prices this week, due to the prospects for demand destruction. On the supply side, Libya exports (near 1.0 mln bpd) are at risk due to civil war in the country threatening further supply disruption on top of the shutdown in production from Iran and Venezuela due to sanctions, and the ongoing OPEC+ production cuts. As a result, risk would appear to be to the upside for oil prices in the coming sessions, regardless of trade worries.

Main Macro Events Today

  • Gross Domestic Product (GBP, GMT 08:30) – The economy’s most important figure, preliminary Q1 GDP is expected to be unchanged at 0.2% q/q.
  • Consumer Price Index and Core (USD, GMT 12:30) – The headline CPI is estimated to rise 0.4% in April, after a similar reading in March. The overall CPI is expected to be up 2.1% y/y, from 1.9% in March. US Core CPI is estimated to rise 0.2% in April, following a 0.1% increase in March.
  • Labour Market Data (CAD, GMT 12:30) – The unemployment rate is expected to hold at 5.8% in April, however the employment change is forecast to increase to 1K, after the 7.2k loss in March.

Support and Resistance levels
2019-05-10_09-57-58.jpg 

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.


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#957
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Date : 16th May 2019.

MACRO EVENTS & NEWS OF 16th May 2019.

2019-05-16_09-32-41-696x468.jpg

FX News Today


  • Treasury yields dipped -1.4 bp overnight, JGB rates are down -0.5 bp as bond markets continue to rally amid the escalating US-Sino trade spat that saw Trump targeting Chinese telecom companies.
  • Reports that the US President will hold off on auto tariffs for now helped European bourses to stage a late rally Wednesday.
  • The US President signed an order that is expected to restrict the likes of Huawei and ZTE Corp from selling their equipment to the US. Huawei was also put on a blacklist that could forbid it from doing business with American companies and require US companies to obtain a special licence to sell products to the company, which if enforced strictly could halt even everyday operations at the Chinese company.
  • The US and European stock futures are under pressure ahead of the official open.
  • US-Sino trade tensions aside Brexit developments and Italian budget jitters remain in focus amid a pretty quiet local calendar that focuses on Eurozone trade numbers as well as the final reading of Italian HICP inflation.
  • The unexpected pick up in Australian unemployment fuelled speculation of a rate cut from the RBA.
  • The front end WTI future is trading at $62.40 per barrel.

Charts of the Day

2019-05-16_09-35-01.jpg

Technician’s Corner


  • EURUSD found Resistance at 1.1217 level for 2 consecutive days. The pair has mostly been stuck between its 20-day moving average at 1.1200 and its 50-day moving average at 1.1245 since the start of the week. A close above or below these levels may help determine direction for the remainder of the week.
  • GBPUSD has extended losses which s now in its 9th consecutive down day, after it broke yesterday April’s lows. Next support for the asset is coming at January’s low Resistance at 1.2772.

Main Macro Events Today

  • Housing Data (USD, GMT 12:30) – Both Building Permits and Housing Starts should jump in April, to a 1.215 mln pace and to 1.298 mln respectively, after a 0.3% and 0.2% decline seen in March. Overall, a stronger trajectory is expected for starts with a positive but slower pace for permits.

Support and Resistance levels
2019-05-16_09-35-35.jpg 

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.


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#958
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Date : 17th May 2019.

MACRO EVENTS & NEWS OF 17th May 2019.

2019-05-17_08-58-00-696x193.jpg

FX News Today


  • Treasuries sold off as risk appetite soured. Wall Street posted broadbased and solid intraday gains of over 1% Thursday.
  • There was good news on the data front, as well as stellar earnings news from Walmart to add to the bullish tone in equities.
  • Bank of Japan governor Kuroda said the ultra-low rates may be maintained for a further period of well over a year. However, Kuroda warned against the idea of propping up the economy through unlimited money printing saying that “when a central bank monetises debt unlimitedly, it will most certainly trigger hyper-inflation and cause huge demand to the economy”.
  • There were comments in China state media saying China may have no interest in continuing trade talks with the US for now.
  • The Yuan fell past the psychologically important 6.9 per dollar level, something that previously had been speculated to eventually lead to the selling of Chinese Treasury holdings to prop up the currency.
  • The WTI future is trading at $62.98 per barrel. Geopolitical tensions in the Mideast continue to provide support, with the latest rally coming as Saudi Arabia blamed Iran and its proxies for attacks on Saudi oil infrastructure this week.

Charts of the Day
2019-05-17_09-13-41.jpg

Technician’s Corner


  • EURUSD fell to 8-session lows of 1.1172 at mid-morning, slipping from opening highs near 1.1210. The early round of Dollar friendly US data saw the pairing start its decent, with selling pick up some pace on the break under the 20-day MA of 1.1197. The May 7 low of 1.1167 Support was reached , however the asset manage to hold above it so far today. A break there could open the door for a test of the May 3 low of 1.1135.
  • GBPUSD’s low is 1.2787 in what is now the 5th consecutive daily decline and the eighth down day out of the last nine trading days. Resistance comes in at 1.2875-78. Next Support holds at 1.2700.

Main Macro Events Today


  • Consumer Price Index (EUR, GMT 09:00) – The Euro Area CPI for April is expected to slow down slightly, at 0.7% from 1% last month. However, the overall picture remains largely unchanged, with headline inflation remaining modest, but underlying inflation starting to firm. No reason then for the ECB to add additional stimulus measures to an already very accommodative policy stance, and “low for longer” remains the message not just from the ECB.
  • Michigan Consumer Sentiment Index (USD, GMT 14:00) – The preliminary May Michigan sentiment reading is forecast at 97.7, up from the final April sentiment at 97.2.

Support and Resistance levels
2019-05-17_09-47-45.jpg 

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.


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