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HFblogNews

HFblogNews

Member Since 26 Jun 2014
Offline Last Active Today, 03:39 AM
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In Topic: Hotforex.com - Market Analysis and News.

17 May 2019 - 02:28 AM

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.


In Topic: Hotforex.com - Market Analysis and News.

16 May 2019 - 03:37 AM

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.


In Topic: Hotforex.com - Market Analysis and News.

10 May 2019 - 04:45 AM

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.


In Topic: Hotforex.com - Market Analysis and News.

09 May 2019 - 04:57 AM

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.


In Topic: Hotforex.com - Market Analysis and News.

08 May 2019 - 05:02 AM

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.