NewForex — Forex news (daily)

[Anna Mon]

Allow me to present to the distinguished community the Forex news by NewForex company. In this thread I will post daily news about the Forex market.

[Anna Mon]

Forex News from New Forex: Pound sterling advances against the euro and the dollar

 

On Wednesday, June 29, the pound sterling surges against the euro and the US dollar, the market recovers after Brexit. The currency instrument pound/dollar picked up 0.40% to 1.3395 after hitting a 31-year low at 1.3122. The pound climbed 0.41% versus the euro.

 

The British currency is under pressure after the decision to leave the European Union, global markets are scared of financial consequences. Resignation of the UK’s Prime Minister David Cameron added political uncertainty to this situation. Today the EU leaders will continue discussing the consequences of Brexit at the summit in Brussels.

 

The euro is under pressure due to Brexit as well. The pair euro/dollar slid 0.08% to 1.1055. Euro/yen shed 0.28% to 113.35. The US dollar has slightly gained after a 1.1% growth of the GDP in the first quarter instead of the expected 1.0%. The dollar index eased 0.01% to 96.18.

 

 

NewForex Analyst

 

Sara Rosenstein

 

Forex News from New Forex: Gold and silver trade without losses

 

Precious metals gain ground in the trading on Wednesday, market participants are ready to invest into safe assets after the unexpected decision of the UK to leave the European Union. Gold futures with the delivery in August picked up 0.17% to 1320.60 a troy ounce, yesterday they shed 0.51%. After the UK referendum the yellow metal hit a 27-month high at $1,362.60. Since the start of the year gold has risen by 25% amid concerns over the slowdown of global economic growth and delay of the interest rate hike in the USA.

 

Meanwhile, if Brexit exerts considerable influence on markets, central banks might take measures to stabilize them, which might have a negative impact on gold positions.

 

Spot gold climbed 0.48% to 1.318.40. In the nearest future metal might rise, uncertainty over the interest rate hike will lend support to gold.

 

Silver futures with the delivery in September jumped 2.24% to 18.29 a troy ounce.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: The review of the Aisan market

 

On Thursday, June 30, the Australian and the New Zealand dollar lose ground against the greenback. The pair AUD/USD tumbled 0.16% to 0.7437. The kiwi was sliding in the trading in Asia but now it stands flat at 0.711.

 

The US dollar trades in mixed way after the release of fresh economic data. Personal spending in May climbed 0.4% which corresponds to market expectations. Meanwhile, personal income decreased by 0.2% for the same period, the pending home sales index tumbled 3.7% instead of the expected drop by 1.1%. The dollar index stands at 95.65 (-0.05%).

 

The currency pair dollar/yen slipped to 0.05% to 102.76, euro/yen trades flat at 114.33. In Japan industrial production edged down to 2.3% in May instead of −0.1%. The Nikkei closed in the positive zone today (+0.06%). In June the Nikkei index slipped to 9.6%, the biggest fall since May 2012. Since the start of the year the fall is 18.2% amid the yen growth. The broader Topix shed 0.15%.

 

 

NewForex Analyst

 

David Fineberg

 

Forex News from New Forex: Oil tumbles after yesterday’s high

 

In the trading on Thursday, June 30, oil prices decline, market participants fix profit after yesterday’s high. The raw material gained support amid some weakening of concerns over Brexit.

 

Crude oil with the delivery in August slid 0.98% to $49.39 a barrel, on Wednesday it rose 4.24%,a high since April. Brent oil fell 0.77% to $50.22 a barrel, yesterday black gold added 4.18%.

 

US oil stocks declined by 4.1 mln barrels to 526.6 mln last week. Market participants expected a descend by 2.4 mln. barrels. The reduction of oil stocks has been observed for six weeks in a row.

 

An additional factor influencing on the fall of oil prices was the renewal of oil output in Nigeria. In Norway oil companies and trade unions started today 2-day negotiations over the wage increase hoping to avoid strikes which might lead to the decrease of oil and gas output by 12% in the country.

 

 

NewForex Analyst

 

David Fineberg

[Anna Mon]

Forex News from New Forex: Asian markets closed with a rise

 

On Friday, July 1, Asian markets started the first day of the new quarter in the positive zone. The Japanese index Nikkei kept rising closing trades at 15,682.48 (+0.7%). This week the index gained 4.9%, a weekly high since April 2016. The broader Topix surged 0.7% to 1,254.44, the JPX-Nikkei Index 400 advanced 0.6% to 11,320.65.

 

The pair dollar/yen shed 0.68% to 102.57. On Thursday information on household spending in Japan was released, it slid 1.5% exceeding the forecast (-0.2%).

 

The Chinese market closed in the positive zone, stock markets recover after Brexit shock. The growth of the service sector in June lent support to the Chinese market. Blue chips of the CSI300 index stand at 3,154.20, the Shanghai Composite climbed 0.1%. However, the manufacturing sector declined from 49.2 in May to 48.6 in June. The central bank of China might introduce new measures in the coming months to stimulate the economy.

 

 

NewForex Analyst

 

Luigi Campo

 

Forex News from New Forex: Positive data from Eurozone boost the euro

 

European markets trade in the positive zone on Friday, July 1. The pan-European index STOXX 600 picked up 0.08%. The UK’s FTSE climbed 0.34%, the German DAX jumped 0.18%, the French CAC 40 gained 0.11%.

 

The unemployment rate tumbled from 10.2% to 10.1%, a 5-year low. The manufacturing PMI advanced from 52.6 to 52.8. The pair euro/dollar rose 0.14% to 1.112.

 

Pound/dollar slid 0.17% to 1.3287. The immediate level of support is seen at 1.3318 (a low since June 27), a level of resistance stands at 1.3535 (a high since June 29). The British currency has been gradually recovering after heavy losses last week. The manufacturing PMI climbed in the UK from 50.1 in May to 52.1 in June. The pair euro/pound advanced 0.23% to 0.8359. Obviously Brexit has not influenced on the economic state of Eurozone so far but changes will be seen in the nearest time.

 

 

NewForex Analyst

 

Luigi Campo

[Anna Mon]

Forex News from New Forex: Gold keeps advancing amid uncertainty after Brexit

 

In the trading on Tuesday, July 5, gold and silver prices steadily increase hitting a 2-year high. Gold futures with the delivery in August jumped 0.59% to $1346.90 a troy ounce. At the start of tradings on Monday the metal edged up to $1,360.30. In June gold rose almost 9%, a high since February 2016. Since the start of the year the yellow metal added 27%. The decision to keep the US interest rate unchanged gave support to gold as well as Brexit which prompted market players to invest into safer assets.

 

Spot gold slid 0.47% to $1.344.01. On Monday the metal reached $1,357.60, a 2-year high since June 2014.

 

Silver futures with the delivery in September picked up 1.67% to $19.915 a troy ounce. On Monday the metal rose to $21.09, a high since July 2014.

 

It’s obvious that after Brexit metals have considerably gained but now there might be some pullback and that's quite justified.

 

 

NewForex Analyst

 

David Fineberg

 

Forex News from New Forex: The pound sterling falls against the euro and the US dollar

 

The British currency hit again a 31-year low against the greenback, the release of negative data on the UK service sector caused concerns over the impact of Brexit on the UK’s economy. The PMI service dropped from 53.5 in May to 52.3 in June, market participants expected a higher magnitude — 52.7. The currency pair pound/dollar stands at 1.3144 (-1.08%). The immediate level of support is seen at 1.3118, a low since June 27 and a 31-year low. A level of resistance is at 1.3339, a high since July 4.

 

The Bank of England Governor Mark Carney stated at the meeting today that the possibility of some slowdown of the economic growth can not be excluded. The number of vulnerable enterprises may increase due to hard economic perspectives. However, the financial system of the country is going to support companies who face difficulties.

 

The pound sterling edged down to 1.07% against the euro to 0.8479. The PMI service rose in Germany from 53.2 in May to 53.7 in June. In general the PMI service jumped in Eurozone from 52.4 to 52.8 last month.

 

 

NewForex Analyst

 

David Fineberg

[Anna Mon]

Forex News from New Forex: European and Asian markets remain under pressure

 

European markets opened with a downtrend on Wednesday, July 6. The UK’s decision to leave the European Union keeps exerting pressure on the global market. The pan-European index STOXX 600 tumbled 0.61%, the German DAX slid 0.93%, the French CAC 40 fell 0.97%, only the UK’s FTSE is gaining 0.04% at the moment. The British currency retains the downward dynamic against the greenback losing 0.69%. The pound edged down to 0.47% versus the euro.

 

Asian markets decline due to concerns about Brexit. Japanese stocks hit a week low, the Nikkei edged down to 1.9%, a low since June 28. The Topix slipped to 1.8%, the JPX-Nikkei Index 400 lost 1.9%. An active selloff is observed in the Japanese market, investors are scared of Brexit consequences.

 

Shares in Hong Kong lose ground as the yuan hit a new 5-year low against the US dollar. The pair USD/CNY climbed 0.19% to 6.69, a rise has been seen for the fifth trading session. The Hang Seng edged down to 1.2%, the China Enterprises Index shed 1.6%.

 

 

NewForex Analyst

 

Michael Butnitsky

 

Forex News from New Forex: The US dollar advances against the main currencies

 

In the trading on Wednesday, July 6, the greenback stands near a week high against the main currencies. The pair pound/dollar tumbled 0.36% to 1.2975, the pound sterling faces a strong pressure after the statement of the Bank of England Governor. He claimed that the UK’s decision to leave the EU the country might lead to considerable financial consequences.

 

The currency instrument euro/dollar slid 0.08% to 1.1066. Factory orders in Germany remained unchanged in May, although experts waited for a 1% increase.

 

The pair dollar/yen fell 1.39% to 100.29. The yen hit a 3-year high amid the losing pound sterling. Investors prefer to invest into safer assets.

 

The Australian dollar climbed 0.08% versus the buck, the kiwi slipped to 0.55%. On Wednesday the dollar index declines 0.15% to 96.13. Market participants are in the anticipation of the Fed’s minutes where some keys to the politics of the central bank in the nearest future might be given.

 

 

NewForex Analyst

 

Michael Butnitsky

[Anna Mon]

Forex News from New Forex: Aussie falls after lowering of the credit rating

 

On Thursday, July 7, the Australian dollar loses ground against the US dollar after cutting down the credit rating of Australia. The rating agency Standard and Poor’s fetched down the rating of Australia to AAA, i.e. from stable to negative. The pair AUD/USD shed 0.23% at the start of the trading session, at the moment it is edging down to 0.07% to 0.752.

 

The New Zealand dollar advances 1.30% against the greenback, market participants realised after the yesterday’s report of Fed that they should not wait for the interest rate hike in the nearest time.

 

The dollar index slipped to 0.03% to 96.10.

 

 

NewForex Analyst

 

David Fineberg

 

Forex News from New Forex: Pound rises amid positive manufacturing data

 

The pound sterling gains ground in the trading on Thursday, July 7, after the release of positive economic news. Industrial production dropped in the UK by 0.5% in May. However, it is much better than the forecast at -1.0%. Year on year the industrial production increased by 1.4% in May instead of expected 0.5%. Manufacturing production shed also 0.5% which is more positive than the forecast -1.0%. Year on year manufacturing production surged 1.7% with the forecast only at 0.7%.

 

The currency instrument pound/dollar trades currently at 1.3025 (+0.74%). Against the euro the pound picked up 0.93% to 0.8503.

 

 

NewForex Analyst

 

David Fineberg

[Anna Mon]

Forex News from New Forex: US unemployment by numbers

 

Today global markets are in the anticipation of unemployment data from the US. The unemployment rate is calculated according to the number of people actively searching for work. In May 2016 this number dropped to 4.7%, a low since November 2007. The number of unemployed residents decreased by 484,000 to 7.4 mln.

 

An average unemployment level in the USA over 1948 to 2016 period is 5.82% with a high at 10.80% in November 1982 and a low at 2.50% in May 1953.

 

In May the unemployment rate among man was 4.3%, women 4.2%, Whites 4.1%, among Hispanics 5.6%, Asians 4.1%, African Americans 8.2%. Unemployment among teenagers stands at 16.0%. Around 1.9 mln US residents can not find work for more than half a year. The State calls this group "long-term unemployed".

 

If we look carefully at the difference between states, the lowest rate in May 2016 was in South Dakota with 2.5%, the highest in Alaska with 6.7%.

 

June forecast shows a slight rise to 4.8%, how accurate it is we will find out later today.

 

 

NewForex Analyst

 

Luigi Campo

Forex News from New Forex: US unemployment by numbers

 

Today global markets are in the anticipation of unemployment data from the US. The unemployment rate is calculated according to the number of people actively searching for work. In May 2016 this number dropped to 4.7%, a low since November 2007. The number of unemployed residents decreased by 484,000 to 7.4 mln.

 

An average unemployment level in the USA over 1948 to 2016 period is 5.82% with a high at 10.80% in November 1982 and a low at 2.50% in May 1953.

 

In May the unemployment rate among man was 4.3%, women 4.2%, Whites 4.1%, among Hispanics 5.6%, Asians 4.1%, African Americans 8.2%. Unemployment among teenagers stands at 16.0%. Around 1.9 mln US residents can not find work for more than half a year. The State calls this group "long-term unemployed".

 

If we look carefully at the difference between states, the lowest rate in May 2016 was in South Dakota with 2.5%, the highest in Alaska with 6.7%.

 

June forecast shows a slight rise to 4.8%, how accurate it is we will find out later today.

 

 

NewForex Analyst

 

Luigi Campo

[Anna Mon]

Forex News from New Forex: Commodity currencies slide amid low oil prices

 

The Australian and the New Zealand dollar lose ground against the greenback in the trading on Monday, July 11. The US dollar gained strong support after the release of upbeat employment data last Friday and due to low oil prices. At the moment the currency instrument AUD/USD shed 0.28% to 0.7546. The number of home loans decreased in Australia in May by 1.0% which is significantly better than the forecast at -2.0%. In April the number of loans increased by 1.4%. Tomorrow markets will be in the expectation of business conditions and business confidence in Australia.

 

The pair kiwi/dollar stands at 0.7243 (-0.82%). Tomorrow the release of Food Price Index for June is expected in New Zealand. In May it declined by 0.5%.

 

Commodity currencies suffer from falling oil prices. WTI edged down to 1.63% to $44.68 a barrel. Brent slid 1.52% to $46.05. The Canadian dollar slipped to 0.39% versus the buck to 1.3094.

 

The dollar index stands at 96.72 (+0.43%) which is a 2-week high.

 

 

NewForex Analyst

 

David Fineberg

 

Forex News from New Forex: US dollar advances after Friday data

 

Today, on July 11, the US dollar climbs against the main currencies after optimistic employment data in the US. In June 287 000 new working places were registered instead of expected 175 000. Average hourly earnings edged up 2.6% in comparison with the same period last year. The unemployment level slightly rose from 4.7% in May to 4.9% in June.

 

The pair euro/dollar shed 0.21% to 1.103. Pound/dollar dropped by 0.65% to 1.2868 which is close to a 31-year low. Market participants are in the anticipation of the Bank of England minutes on Thursday, July 14. It is assumed that the interest rate will remain unchanged at 0.5%. However, the Bank of England might introduce extra stimulus measures to support economy after Brexit.

 

The pair dollar/yen picked up 1.78% to 102.3. The Japanese currency loses ground after the decision of Prime-Minister Shinzo Abe to launch a new round of fiscal stimulus.

 

European stocks are in the positive zone after the Bank of Japan decision and upbeat data from the US. The pan-European index STOXX 600 surged 0.48%. The UK’s FTSE jumped 0.55%, the German DAX rose 1.07%, the French CAC 40 added 0.70%.

 

 

NewForex Analyst

 

David Fineberg

[Anna Mon]

Forex News from New Forex: Aussie and kiwi look confident

 

The Australian and the New Zealand dollar significantly rise in the trading on Tuesday, July 12. Positive data from Australia and increasing oil prices lend support to these currencies. The pair AUD/USD stands at 0.7623 (+1.22%). The business confidence index in Australia climbed from 3 in May to 6 in June, the index of business conditions advanced from 10 to 12 last month.

 

The pair kiwi/dollar jumped to 0.7299 (+1.12%). Oil prices gain ground amid supply disruptions in Iraq. WTI surged 0.56% to $45.30 a barrel, Brent added 0.76% to $46.64. The dollar index slid 0.49% to 96.11.

 

In general, Asian markets show positive dynamics today. The Japanese index Nikkei edges up in the expectation of fiscal stimulus from the central bank of Japan. The Nikkei picked up 2.46%, the Topix and the JPX-Nikkei Index 400 advanced 2.4%.

 

The Chinese market gains as well. The CSI300 index, which includes stocks of the largest companies of Shanghai and Shenzhen, rose 2.2%. The Shanghai Composite jumped 1.8%.

 

 

NewForex Analyst

 

Michael Butnitsky

 

Forex News from New Forex: Gold falls after the release of US data

 

In the trading on Tuesday, July 12, gold prices decrease as market participants consider chances of interest rate hike in the USA after the release of positive employment data. Market tension subsides after the decision of the UK to leave the European Union.

 

Gold spot shed 0.16%. On Monday the decline was 0.8%, the biggest descend in the last two weeks. Gold futures with the delivery in August slid 60 cents or 0.05% to $1,356.00 a troy ounce. However, since the start of the year the yellow metal picked up almost 30% amid faint hopes for the interest rate hike in the USA.

 

Meanwhile, silver gains 0.42% to $19.30.

 

European markets behave confidently today. The pan-European index STOXX 600 added 1%. The German DAX advanced 1.71%, the French CAC 40 jumped 1.71% as well, the UK’s FTSE trades in flat. Uncertainty over the political situation in the UK gradually eases after the appointment of Theresa May as the UK Prime-Minister. This Wednesday, on July 13, she is getting officially into office.

 

 

NewForex Analyst

 

Michael Butnitsky

[Anna Mon]

Forex News from New Forex: Asian markets closed with a rise shrugging off low data from China

 

Asian markets closed today with a firm rise in the expectation of new monetary stimulus from Japan. The MSCI Asia Pacific Index climbed 0.7%. The Japanese Topix jumped 1.1% advancing 6.3% during the last two trading sessions. The yen gained 0.06% against the buck after a 4% decline at the start of the week.

 

The Australian and the New Zealand dollar shed 0.01% and 0.04%, respectively. The fall is caused by the decrease of import in China by 8.4% in June and export by 4.8%. It has strong influence on these currencies as China is the leading export market for Australia and New Zealand. The yuan slid 0.04% against the US dollar. The Hang Seng climbed 0.5%, the China Enterprises Index picked up 0.06%. Market participants assume that the central bank of China will introduce new stimulus measures in the coming months.

 

European stocks move in mixed ways in the trading on Wednesday, July 13. Markets recover after Brexit. The pan-European index STOXX 600 edged up 0.24%. The UK’s FTSE surged 0.08%, the German index DAX slipped to 0.08%, the French CAC 40 climbed 0.21%.

 

 

NewForex Analyst

 

David Fineberg

 

 

Forex News from New Forex: US dollar slides against the main currencies

 

In the trading on Wednesday, July 13, the US dollar tumbles against the leading currencies. The instrument euro/dollar climbed 0.15% to 1.1074. Pound/dollar added 0.19% to 1.3266 after the appointment of Theresa May as the UK Prime-Minister. However, the pound remains under pressure due to the Bank of England meeting which is planned on this Thursday, July 14. The current interest rate at 0.50% might be cut down to 0.25% in order to launch the program of monetary easing to support the economy after the decision of the UK to leave the European Union.

 

The pair dollar/Swiss franc tumbled 0.41% to 0.9843, the US dollar edges down to 0.05% against the loonie to 1.3032. The Bank of Canada should make a decision over the interest rate today. It is expected that the rate will remain unchanged at 0.5%.

 

 

The dollar index slipped to 0.17% to 96.39.

 

NewForex Analyst

 

David Fineberg

[Anna Mon]

Forex News from New Forex: Interest rate in the UK, in the expectation of a fresh record

 

The base rate in the United Kingdom is an interest rate at which commercial banks take loans from the Bank of England. In theory: the lower the rate is, the cheaper loans for borrowers are. The decision over the UK interest rate is made by nine members of the Monetary Committee of the Bank of England. A meeting of the bank takes place every month. Studying the economic state of the country the decision over the rate is made.

 

The rate hike decreases inflation supporting savings of citizens and keeping them from loans. Thus, reducing the demand for goods in shops. The rate cutdown boosts the demand and increases prices as the pure income of people rises.

 

If we consider the period from 1971 to 2016, the highest interest rate was in March 1979 at 17%, the lowest rate is recorded at the moment at 0.5%. This rate has been unchanged since March 2009.

 

However, after the decision of the UK to leave the European Union most market participants are in the anticipation of the further decline up to 0.25%. Later today we will see if the Bank of England sets a fresh record.

 

 

NewForex Analyst

 

Michael Butnitsky

[Anna Mon]

Forex News from New Forex: Pound sterling hit a 2-week high

 

On July 14 the pound sterling advanced to a 2-week high against the US dollar after the decision of the Bank of England to keep the interest rate at 0.5%. The pair pound/dollar surged 1.85% to 1.3388 today. The pound picked up 1.20% against the euro to 0.8327.

 

At the meeting of the Bank of England eight out of nine members of the Monetary Committee voted to hold the interest rate unchanged at 0.5% instead of an expected decrease to 0.25%. However, it was claimed in the report that the Committee will return to the question of the interest rate cutdown this August. It was also mentioned that the decision of the UK to the leave the EU might weaken the economy and expose the housing market to a risk.

 

European indexes reacted with a rise after the report of the Bank of England. The pan-European STOXX 600 added 0.78%, the UK’s FTSE climbed 0.07%, the German DAX gained 1.26%, the French CAC 40 edged up 1.04%.

 

 

NewForex Analyst

 

Michael Butnitsky

[Anna Mon]

Forex News from New Forex: Gold and silver decline

 

Gold and silver prices tumbles in the trading on Friday, July 15, as the US dollar advances. Gold futures with the delivery in August shed 0.03% to $1.331.80 a troy ounce. Spot gold slid 0.29% to 1.330.80 a troy ounce. We suppose that spot gold might decrease further to $1,313. During this week the precious metal lost 2.9%. Currently gold is under pressure due to positive economic news from the US. Gold holdings in the largest EFT-fund SPDR Gold Trust slipped to 0.25% to 962.85 tonnes on Thursday. Silver futures edged down to 0.43% to $20.235. Spot silver fell 0.69% to $20.16.

 

Oil shows negative dynamics as well amid concerns over the supply glut. Crude oil with the delivery in August lost 0.96% to $45.24. In the Mercantile Exchange in London Brent slipped to 0.95% to $46.92 a barrel. Positive news from China kept oil from the further decline on Friday. The GDP of China climbed 1.8% in the second quarter, year on year the rise is 6.7%. Retail sales in June increased by 10.6% year on year. Industrial production gained 6.2%.

 

 

NewForex Analyst

 

Luigi Campo

 

Forex News from New Forex: European shares fall after the attack in France

 

European shares lose ground in the trading on Friday, July 15, after the horrifying terrorist attack in France where at least 84 people died. The French index CAC 40 slid 0.38%, the UK’s FTSE lost 0.20%, the German DAX edged down to 0.22%. The pan-European STOXX 600 slid 0.18%.

 

Clear that after the yesterday’s tragedy in Nice Europe tries to come to itself and all the other news are of secondary importance. French economy has been quite resistant to such kind of shocks but the last event might hit the touristic sector of the country.

 

European currency advanced 0.04% against the US dollar to 1.1123. The euro surged 0.42% to 117.61 against the yen. Against the pound sterling the euro shed 0.17%.

 

 

NewForex Analyst

 

Luigi Campo

[Anna Mon]

Forex News from New Forex: The kiwi is under pressure

 

Today, July 18, Statistics New Zealand data was published. The consumer price index in New Zealand in June was 0.4%. This is less than expected. 

 

Against these data the new Zealand dollar weakened and now is under pressure. NewForex analysts believe that soon the pressure will continue. 

 

Market participants expect the possible increase in pressure on Thursday. This will happen as there new data from Statistics New Zealand and Reserve Bank of New Zealand will be published.

 

In morning trading the new Zealand dollar declined against the US dollar, Australian dollar and Euro.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Today data from UK and research ZEW in Germany were published

 

Today two important report data on inflation in Britain and the results of the ZEW research in Germany were published. The consumer price index in the UK rose in June, higher than expected and reached 0.5%.

Pound rises after the publication of this report. GBP/USD shows the price rise while the EUR/GBP shows a decrease.

 

ZEW data from Germany showed the size of the fall in German economic sentiment in July. It fell more than expected to −6,8.

 

 

NewForex Analyst

Sara Rosenstein

 

Forex News from New Forex: RBA data weaken the Australian dollar

 

Today the Reserve Bank of Australia report was published. The Aussie strengthened before the RBA report. But after publication of this data it weakened. The fact that the report mentions the possibility of lowering the key interest rates in August of this year influenced on the Australian dollar. Along with this while the RBA meeting in July, the interest rate did not change and remained at the level of 1.75%.

 

The report also talked about the British exit from the EU. The RBA believes that the current uncertainty with the process UK output only slightly affect the growth of the world economy.

 

 

NewForex Analyst

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Pound sterling rises after the release of employment data

 

In the trading on Wednesday, July 20, the pound managed to climb after the release of the UK employment data. The level of unemployment dropped from 5.0% to 4.9% in the period from March to May. Average earnings including bonus jumped from 2.0% to 2.3% within the same period.

 

The pair pound/dollar added 0.59% to 1.3184. The immediate level of support is seen at 1.2968 (a low of July 12), the level of resistance stands at 1.3313 (a high of July 18). The pound surged versus the euro as well, the pair EUR/GBP shed 0.77% to 0.8339.

 

In spite of the positive dynamics, investors remain cautious after the decision of the International Monetary Fund to cut the forecast of the UK economic growth from 1.9% to 1.7% in 2016. The forecast for 2017 decreased from 2.2% to 1.3% due to the decision of the country to leave the European Union.

 

European markets look upbeat on Wednesday The pan-European index STOXX 600 advanced 0.91%. The UK’s FTSE edged up 0.32%, the German DAX rose 1.37%, the French CAC 40 added 1.14%.

 

 

NewForex Analyst

 

Sara Rosenstein

 

Forex News from New Forex: Dollar weights gold down

 

Gold prices decrease in the trading on Wednesday, a strong dollar exerts pressure on the precious metal. The greenback soars after the release of housing starts in the US. In June figures rose by 4.8% after a 1.7% fall in May. The dollar index picked up 0.13% to 97.19.

 

Gold with the delivery in August slid 1.05% to $1.318.30 a troy ounce. In the trading on Tuesday the yellow metal gained $3.00 or 0.23%. Gold has considerably surged in the first half of 2016 and now we might observe some decline but quite short. A high likelihood of the introduction of stimulus measures by central banks around the world to cope with Brexit consequences lend support to gold. At the moment spot gold stands at $1.318.20 losing 1.02%.

 

Spot silver tumbled 1.93% to $19.511. Silver futures with the delivery in September shed 1.76% to $19.655 a troy ounce.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from NewForex: Asian markets closed with a decline

 

On Friday, July 22, Asian stocks lose ground after an 8-month high. The yen rises amid low possibilities of new stimulus measures in Japan. At the moment the pair dollar/yen stands at 105.98 (-0.17%). During the week the yen shed 0.8%. The MSCI Asia Pacific index tumbled 0.6%, the Topix slid 1.3%.

 

The Australian and the New Zealand dollar expanded their weekly decrease reaching a 1.3% fall this week. The Reserve Bank of New Zealand stated that the introduction of monetary stimulus measures is necessary for the inflation increase, in Australia the inflation is below the targeted level. The Aussie edged down to 0.15% versus the US dollar, the kiwi managed to pick up 0.23%.

 

The yuan advanced 0.06% against the greenback. The economy of the country has been gradually recovering and we expect that the currency rate will stay quite stable. The interest rate cut is unlikely at the moment which triggered the fall of indexes. The CSI300 slipped to 0.6%, the Shanghai Composite slid 0.7%. In Hong Kong the Hang Seng dropped by 0.5%.

 

 

NewForex Analyst

 

Luigi Campo

 

Forex News from NewForex: Pound tumbles after low PMI data

 

The pound sterling declines in the trading on Friday, July 22, after the release of fresh economic data from the UK. The pair pound/dollar stands at 1.3186 (-0.35%). The immediate level of support is seen at 1.3061 (a low of July 20), the level of resistance is at 1.3313 (a high of July 18).

 

Preliminary PMI data in the manufacturing sphere for July decreased from 52.1 to 49.1 with the forecast at 50.0. The service sector fell from 52.3 to 47.4 instead of expected 49.2. The latest data added more concern to the possible economic slowdown in the UK due to the decision of the country to leave the European Union. The pound slides against the euro losing 0.49%. The UK’s index FTSE shows a weak rise at 0.09%.

 

The Composite Eurozone PMI dropped from 53.1 in June to 52.9 in July outstripping the forecast at 52.5. Although the service sector declined from 52.8 to 52.7, it stays above the forecast as well. The pan-European index STOXX 600 shed 0.04%, the German DAX and the French CAC 40 demonstrate a slight rise at 0.03% and 0.27%, respectively.

 

 

NewForex Analyst

 

Luigi Campo

[Anna Mon]

 

Forex News from NewForex: Oil prices decline amid growing data in the US

 

In the trading on Monday, July 25, oil keeps losing ground. Concerns over oil glut in the global market pull down black gold. Crude oil with the delivery in September dropped by 0.59% to $43.93 a barrel. On Friday oil slumped to $43.74, a low since May 10.

 

The number of drilling rigs in the US descended by 14 last week to 371 which is the fourth weekly decrease in a row. Gasoline inventories rose by 0.9 mln., while market participants expected a tumble by 0.8 mln. barrels. In total US oil inventories shed 2.3 mln. barrels last week. However, in spite of this 519.5 mln. barrels perform a historic high for this season.

 

In the Mercantile Exchange in London Brent with the delivery in September slid 0.61% to $45.41 a barrel. On Friday the raw material edged down to $45.17 hitting a 2-week low. Last week Brent slipped to $2.23 or 4.03%. High probability of export increase from Libya and Iraq triggers concerns as it might lead to the market glut and decrease in demand for oil among refiners.

 

 

NewForex Analyst

 

Sara Rosenstein

 

Forex News from NewForex: Euro gains against the main currencies

 

European markets advance after the release of upbeat data from Germany. Although the Business Climate of Germany slumped from 108.7 to 108.3 this month, it stands above the forecasts of economists. The pan-European index STOXX 600 surged 0.53%. The UK’s FTSE climbed 0.02%, the German DAX added 0.96%, the French CAC 40 rose 0.59%.

 

Global shares increase after the announcement of G20 Finance Chiefs about the readiness to implement necessary measures to boost the global economic growth.

 

In spite of the rise of the euro against the buck by 0.12%, the single currency remains at a 1-month low against the greenback. The immediate level of support is seen at 1.0908 (a low of June 24), the level of resistance stands at 1.1042 (a high of July 22). The pair euro/pound picked up 0.23% to 0.8376. The single currency jumped 0.24% against the yen to 116.58, against the Swiss franc it gained 0.14%.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Gold slightly rises amid Fed policy meeting

 

Gold trades warily in the trading on Tuesday, July 26. Starting the day with a decline the precious metal managed to change its direction and rises. Gold futures with the delivery in August surge 0.12% to $1.321.10 a troy ounce. Spot gold added 0.53% to 1.322.16. Silver futures with the delivery in September pick up 0.45% to $19.735.

 

Intentions to introduce extra monetary stimulus measures by central banks of Europe and Asia in order to mitigate consequences of Brexit lend support to metals.

 

Meanwhile, the market is in the anticipation of the results of a 2-day Fed policy meeting. Although market participants do not expect any interest rate hike this week, they are going to pay close attention to subtle hints about the nearest hike. Recent positive data from the US indicate that the rate hike might be earlier than by the end of the year.

 

At the moment the dollar index slid 0.34% to 96.94.

 

 

NewForex Analyst

 

David Fineberg

 

 

Forex News from New Forex: Greenback slips against the euro and the yen

 

In the trading on Tuesday, July 26, the US dollar edges down versus the main currencies, investors are in the anticipation of the Fed’s meeting today and its results tomorrow.

 

The currency instrument euro/dollar climbed 0.07% to 1.0998. The greenback shed 1.30% against the yen to 104.39, a low since July 14. The yen advanced after the information that the Japanese government is going to implement a direct fiscal stimulus in 6 trillion yen ($56 billion) in the coming years, while the market expected more considerable inflows in 10-20 trillion yen. The indexes Nikkei, JPX-Nikkei Index 400 and Topix dropped by 1.4%.

 

The Australian and the New Zealand dollar gain 0.75% and 0.96, respectively. The trade balance of New Zealand narrowed from $358 million in May to $127 million in June. Export climbed in the country to $4.26 billion in June, while import dropped to $4.13 billion.

 

European markets trade in mixed ways, investors fix their profit and wait for the decisions of central banks in Europe and Asia this week. The pan-European index STOXX 600 gained 0.02%. The UK’s FTSE surged 0.20%, the German DAX advanced 0.29%, the French CAC 40 shed 0.05%.

 

 

NewForex Analyst

 

David Fineberg

[Anna Mon]

Forex News from NewForex: Yen falls against the dollar and the euro

 

The Japanese Prime-Minister Shinzo Abe intends to allocate 28 trillion yen to support the country’s economy. The program includes 13 trillion as fiscal measures. Japanese economy faces pressure due to the demand contraction abroad. The growth of the yen in 2016 makes the goods produced in the country less attractive, which endangers export in Japan. Abe claimed that it is necessary to support domestic demand and make the economy steadier.

 

Investors are in the anticipation of the Bank of Japan meeting this Friday where it might be decided to cut the interest rate from −0.1% to −0.2%. The bank might also extend stimulus measures.

 

Today the currency instrument dollar/yen jumped 0.80% to 105.48. Euro/yen gains 0.90% to 116.01. Japanese indexes reacted with a rise after the speech of the Prime-Minister. The Nikkei picked up 1.7%, the Topix added 1.1%, the JPX-Nikkei Index 400 edged up 1.2%.

 

 

NewForex Analyst

 

Michael Butnitsky

 

 

Forex News from NewForex: Oil and gold decline

 

Oil loses ground in the trading on Wednesday, July 27, markets are in the anticipation of weekly oil stocks in the US. Crude oil WTI with the delivery in September shed 0.65% to $42.64 a barrel. On Tuesday black gold slumped to $42.36, a low since April 20. Brent oil descended by 1.23% to $44.32. Raw material slid around 15% since the start of June, high oil stocks push prices down. We assume that in the short term the decrease will continue due to oil glut.

 

Gold tumbles as well, the main reason is strengthening of the US dollar before the release of Fed’s policy meeting results over the interest rate. It is highly likely that the interest rate will remain unchanged till the end of summer. Spot gold trades with a slight rise at 1.320.29 (+0.03%). Stocks of the precious metal in the largest EFT-fund SPDR Gold Trust edged down to 0.45% to 954.24 tonnes. Spot silver trades flat at $19.614.

 

 

NewForex Analyst

 

Michael Butnitsky

[Anna Mon]

Forex News from NewForex: Aussie and kiwi surge after the Fed’s report

 

The Australian and the New Zealand dollar advance against the greenback after the Fed’s decision to keep its policy unchanged. The currency instrument AUD/USD added 0.69% to 0.7542. Kiwi/dollar picked up 0.42% to 7.7102. The Fed’s decision to hold the interest rate unchanged was quite predictable. It was mentioned in the report that economic risks have decreased in the country and the labour market got stronger. Thus, in the short-term we might expect the interest rate hike in September.

 

Commodity currencies gained amid the rise of oil prices, although oil glut keeps exerting pressure on black gold. WTI futures picked up 0.26% to $42.03 a barrel, Brent lost 0.25% to $43.36. The Canadian dollar edged up 0.36% versus the buck to 1.314. At the moment the dollar index slipped to 0.35% to 96.41, a low since July 15.

 

Japanese and Chinese markets decline. The Japanese Nikkei took a break after a rise amid strong positions of the yen. The index shed 1.1%. The Topix and the JPX-Nikkei Index 400 edged down to 1.1% too. In Hong Kong shares descend due to the fall of energy and financial shares. The Hang Seng slid 0.2%, the China Enterprises Index tumbled 0.4%.

 

 

NewForex Analyst

 

David Fineberg

 

Forex News from NewForex: Sentiment of the European market improves

 

The European market moves up and down after the Fed’s decision to keep the interest rate unchanged. Investors are in the anticipation of the Bank of Japan decision over the interest rate. The UK’s FTSE shed 0.19%, the German DAX added 0.01%, the French CAC 40 tumbled 0.12%. The pan-European STOXX 600 loses 0.3%.

 

The economic sentiment of Eurozone improved in July in spite of some negative forecasts of economists due to consequences of Brexit. The business climate rose from 0,22 to 0,39. The industrial confidence index advanced from −2,8 to −2.4. Consumer confidence index remained unchanged at −7.9. The sentiment in the service sector jumped from 10.9 to 11.1.

 

The UK economic sentiment dropped from 107.0 in June to 102.6 in July with losses in all leading sectors. The largest fall is seen in the consumer sector. The consumer confidence index fell from −1.2 in June to −9.2 this month.

 

The pair euro/dollar stands at 1.1084 (+0.26%). Euro/pound climbed 0.72% to 0.8423.

 

 

NewForex Analyst

 

David Fineberg

[Anna Mon]

Forex News from NewForex: European indexes rise after fresh data on Eurozone

 

European markets display positive dynamics in the trading on Friday, July 29. However, the increase is quite moderate as investors estimate the decision of the Bank of Japan to keep the interest rate unchanged at −0.1%, while a lot of market participants expected a descend to −0.2%.

 

Today the pan-European index STOXX 600 advanced 0.57%. The UK’s FTSE picked up 0.03%, the German DAX added 0.62%, the French CAC 40 climbed 0.21%.

 

Latest data on economic situation in Eurozone lends support to the market. The GDP of Eurozone in the second quarter dropped from 0.6% to 0.3%, which complies with forecasts. The unemployment rate in June remained at the level 10.1%. The preliminary consumer price index for July rose year-on-year from 0.1% in June to 0.2% this month. The core CPI, which excludes food, energy, alcohol and tobacco prices, remained at 0.9%.

 

Currently the currency instrument euro/dollar edged up 0.22% to 1.1099. Euro/pound surged 0.19% to 0.8426.

 

 

NewForex Analyst

 

David Fineberg

 

Forex News from NewForex: Oil and gold prices tumble

 

On Friday, July 29, oil futures hit a 3-month low. Obviously oil glut contributes to the negative sentiment in the market. WTI futures with the delivery in September dropped by 0.95% to $40.75. Brent shed 1.5% to $42.06. It was reported this week that US oil inventories rose by 1.7 million barrels to 521.1 million barrels which presents a historic high for this summer.

 

Gold loses ground as well in spite of decisions of the Bank of Japan and the Fed to hold the interest rate unchanged. Today gold futures with the delivery in December slid 0.03% to $1.340.80 a troy ounce. The immediate level of support is seen at $1,330.10 (a low since July 28), the level of resistance stands at $1,356.90 (a high since July 12). Spot gold edged down to 0.1% to 1.334.16.

 

Silver futures with the delivery in September tumbled 0.55% to $20.085 a troy ounce whereas silver spot declined by 0.53% to $20.04.

 

 

NewForex Analyst

 

David Fineberg

[Anna Mon]

Forex News from NewForex: Fundamental analysis of gold

This year gold rose almost 25%, having reached its highest level of $1.375.25 (since March, 2014) after Great Britain left the EU. The price tumbled amid the news that USA economy gains strength.

 

The positive analytics from the USA about employment shows good perspective for the world’s largest economy and may exert additional influence on the gold price.

More strong data on jobs in nonagricultural sector gives the Fed more freedom to raise interest rates what may decrease the gold price in the short term.

 

The price of gold slid $7 to 1341. Now it is not able to rise higher as traders still do not know what move the Fed will make. Some traders discuss a possible rate hike in September while others talk about its decline.

 

 

 NewForex Analyst

Luigi Campo

[Anna Mon]

Forex News from NewForex: Fundamental analysis of European currency

 

One of the main economic news on August 24, 2016 was the release of Germany GDP data. Following this information, the Euro slids versus all currencies as the negative sentiments spread.

Due to the unusual liquidity flow of EUR/USD, Common European Currency strengthened during the US session.

However, discarding the influence of the dollar, we can observe that the Euro is facing the negative impact of the fundamental factors.

The most significant event today is the updating of Germany GDP data for the second quarter. The expected record growth of 2.2% is confirmed.

However, the real problem refers to the future trends, not to the previous indexes.

As expected, export (8.2% of growth) and investment in construction (5.2%) played the key role in GDP growth.

 

 

NewForex Analyst

Joseph Schwartz