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NYMEX and Brent gain in Asia
5/25/2016 On Wednesday, oil gained in Asia as American industry stock data demonstrated an abrupt sag at the end of last week. In New York, June delivery WTI crude futures acquired 1.36%, trading at $49.28 per barrel. Simultaneously, Brent crude ended up +1.19%, being worth $49.19. The American Petroleum Institute informed that last week crude oil stocks dipped 5.137 million barrels, compared to a sag of 3.3 million barrels as refineries normally push up gasoline output as the summer driving season is coming next week in America along with the Memorial Day weekend. As for distillates stocks, they edged down 2.922 million barrels. Gasoline stocks surged 3.606 million barrels. Market participants are currently paying attention to crude as well as refined products stock data from the US Department of Energy to be released a bit later. Overnight, crude prices dared to rise considerably on Tuesday remaining near 6-month highs, as Iraq's OPEC governor expressed his sincere concerns regarding the nation's slowing output, thus helping to ease supply levels from near-record peaks. More: https://new.fxbazooka.com/news/6645 |
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Aussie rises in Asia amid reviving construction activity
5/25/2016 On Wednesday, the Australian dollar managed to gain after construction data along with the Japanese yen edged up as market participants are turning their attention to the Fed’s upcoming rate lift. In Australia, construction work carried out for the first quarter dipped 2.6%, more than the 1.5% fall observed quarter-on-quarter. The currency pair AUD/USD found itself at 0.7210, demonstrating a 0.39% surge, while USD/JPY was worth 109.96 with a 0.04% sag. As for EUR/USD, this currency pair dared to acquire up to 0.13%, trading at 1.1155 when negotiations on Greece’s debt program finished. The RBA in its May Statement on Monetary Policy told that non-residential building approvals are still at quite low levels. A bit earlier, New Zealand officially reported that the trade balance for April demonstrated a deficit of approximately NZ$3.66 billion year-on-year as well as a surplus of NZ$292 million month-on-month. The currency pair NZD/USD was worth 0.6761, showing a 0.36% soar after the data. More: https://new.fxbazooka.com/news/6646 |
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Asian stocks are driven by oil and upbeat US data
5/25/2016 On Wednesday, stocks across Asia edged up, as crude oil prices dared to advance to their highest peaks in more than seven months, while market participants share upbeat sentiment as for the prospect of the Fed’s another interest-rate lift right after the official release of positive economic data. Shares in Hong Kong rose 2.5%, inspired by state-owned energy companies, including PetroChina Co., which grew more thant 4.3%. Energy shares on the benchmark Hang Seng Index acquired 3.4%. Meanwhile, in other regions of Asia, Japanese Nikkei Stock Average soared by 1.7%, Australian S&P ASX 200 gained 1.7%, while Korean Kospi grew 1.3%. The Shanghai Composite Index went up 0.1%. Crude prices, that went up overnight, and kept tacking on revenues during Asia trade, shocked the region’s markets. Financial experts were watching for a probable break above $50 per barrel, a level, which hasn’t been challenged for months yet amid ongoing concerns about global oversupply. More: https://new.fxbazooka.com/news/6647 |
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Foxconn won't sell Sharp's solar power business
5/25/2016 On Wednesday, Taiwan’s high tech giant Foxconn officially announced that it is not going to sell its Sharp Corporation’s solar power business, amid growing worries from the company’s business partners as for a probable closure of this particular Foxconn’s struggling division. The newly- appointed Foxconn’s CEO at Sharp and simultaneously its vice chairman Tai Jeng-wu along with Terry Gou, the company’s founder told that they’re eager to inform their business partners that they’re solely committed to this high tech business, Sharp Corporation. The given statement was addressed to the division’s solar power business partners just to calm all of them down. Foxconn, also dubbed formally Hon Hai Precision Industry Co appears to be the world’s number one multinational contract electronics producer, officially headquartered in New Taipei, Taiwan. Foxconn is on the verge of sealing a $3.5 billion deal close to the end of June to provide a two-thirds stake in Sharp. More: https://new.fxbazooka.com/news/6648 |
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German consumer climate keeps rising
5/25/2016 In May, the overall mood of German consumers demonstrated a mixed performance. The consumer climate indicator is actually predicting up to 9.8 points for June, compared with May’s outcome of 9.7 points. While economic expectations as well as the readiness to purchase have both surged, while income expectations have suffered definite losses. Customers are still assured that the German economy is going to keep growing moderately for the next few months. It has already resulted in a minor soar in economic expectations this month. As for the already extremely high readiness to purchase, it has also edged up to a greater level. Though the income expectations indicator appears to be the only index to face a loss, it’s still higher the 50-point mark. In May, economic expectations have kept going up. However, this month’s surge of 2 points appears to be quite moderate, especially compared to the noticeable leap seen in April. The indicator is now at 8.3 points, thus suggesting it has ascended even further above the negative range. More: https://new.fxbazooka.com/news/6649 |
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Draghi criticism is dangerous and excessive
5/25/2016 The constantly growing personal criticism of Mario Draghi, the European Central Bank governor appears to be excessive and therefore dangerous. That’s what Francois Villeroy de Galhau, the ECB governing council member told in an interview in the Spanish newspaper El Pais, published on Wednesday. Of course, it’s quite normal that there’s debate on monetary policy. However, the personal criticism of Mario Draghi is too much, it’s really dangerous. That was Galhau’s reply to the question regarding German complaints against the European Central Bank. Francois Villeroy de Galhau states that from his point of view it’s quite excessive to talk about politicization of the ECB, which is under the control of this particular country or it has been the major reason for the growth of a particular party in Germany. Apart from that, he warned of the high risks closely connected with Britain escaping from the European Union, pointing out to probable financial turbulence, especially for British financial institutions, to say nothing of tough consequences for the monetary union. https://new.fxbazooka.com/news/6650 |
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European shares are powered by Greek bailout deal
5/25/2016 On Wednesday, European stocks leapt because Greece’s creditor came to a compromise as for unlocking more bailout funds for the debt-burdened economy. Oil, getting closer to the $50-a-barrel level also gave decent support to European stocks. The Stoxx Europe 600 managed to gain 0.6%, trading at 356.24. In fact, all the sectors edged up, led by the gas and oil group. The pan-European index found itself on track for a second consecutive revenue, after Tuesday’s trading session ended up 2.2% higher. Greece is expected to get up to 10.3 billion euros in new loans if a deal made during Wednesday’s early hours is signed off by the 19 member countries in the European Union. The new payout arose after Eurozone finance ministers as well as the International Monetary Fund agreed that Greece has already achieved the required progress on financial reforms. The funding will definitely save Athens from defaulting on huge debt redemptions to the IMF as well as the European Central Bank already in July. More: https://new.fxbazooka.com/news/6651 |
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EUR/USD: bulls are going to reach the channel
5/26/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png The price has found a support at 1.1124, which brought a “Double Bottom” pattern. Therefore, the market is likely going to reach a resistance at 1.1217, which is near the downtrend line. If a pullback from this level happens, a downward movement towards the nearest support area at 1.1124 becomes possible. https://new.fxbazooka.com/img/articl...016-EUR-H1.png We’ve got a “Double Bottom” pattern, which has been confirmed. Despite of a resistance by the 55 Moving Average, the market is likely going to achieve the next resistance on the 89 Moving Average. However, bears will probably try to reach a support at 1.1085 afterwards. More: https://new.fxbazooka.com/analytics/9057 |
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GBP/USD: "Pennant" urge bulls to move on
5/25/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png There’s a “Triangle”, which has been broken by the last bullish rally. The price faced a resistance at 1.4695 – 1.4758 afterwards, so we’ve got a flat in progress. Therefore, the market is likely going to get a resistance at the nearest trend line. If a pullback from this line happens, there’ll be an opportunity to see a decline towards a support at 1.4670 – 1.4638. https://new.fxbazooka.com/img/articl...016-GBP-H1.png The price has found a resistance at 1.4739, which led to the current flat. Also, there’s a possible “Pennant”, so the pair is likely going to rise towards a resistance at 1.4768 – 1.4785. Considering a possible pullback from this area, bears will probably try to achieve a support at 1.4728 – 1.4695 subsequently. More: https://new.fxbazooka.com/analytics/9058 |
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EUR/USD: "Tweezers" on the last "Window" brought bulls into the market
5/26/2016 https://new.fxbazooka.com/img/articl...05eurusdh4.png The upper side of the nearest “Window” has acted as a support, so the price is rising. Moreover, we’ve got a “Tweezers” at the last low, so the market is likely going to moving up towards the 21 Moving Average. As we can see on the Daily chart, there’s just a local correction, which has been started right after a “Harami” at the last low. Therefore, the pair is probably going to achieve the 89 Moving Average in the short term. https://new.fxbazooka.com/img/articl...05eurusdh1.png We’ve got a “Harami” and a “Hammer” at the local low, which both have been confirmed enough. So, the market is likely going to get a resistance on the 89 Moving Average line, which can bring back bears into the market. More: https://new.fxbazooka.com/analytics/9061 |
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USD/JPY: "Three White Soldiers" marching in lockstep towards the last high
5/25/2016 https://new.fxbazooka.com/img/articl...5usdjpyH4M.png There’s a “Harami” at the local low and on the 89 &34 Moving Averages. This pattern has been confirmed, so the market is likely going to reach the nearest resistance. As we can see on the Daily chart, we’ve got a “Harami” and a “Tower” on the 21 Moving Average, but their confirmation has been canceled by the last bullish “Harami”. Therefore, the pair is likely going to get a resistance on the 34 Moving Average, which can bring any kind of bearish pattern afterwards. https://new.fxbazooka.com/img/articl...05usdjpyH1.png As we can see on the one-hour chart, there isn’t any clear bullish pattern so far. We’ve got just huge shadows at the local low and two “Harami” patterns. Under this circumstances, the market is likely going to try break the high of 2014 once again. More: https://new.fxbazooka.com/analytics/9062 |
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AUD/CAD reached sell target 0.9360
5/26/2016 -AUD/CAD reached sell target 0.9360 -Next sell target - 0.9300 AUD/CAD continues to fall after the earlier breakout of the support level 0.9360, which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 0.9360 is likely to accelerate the active minor impulse wave (iii) of the intermediate C-wave from the start of March. The active impulse wave (iii) started earlier this month – when the pair reversed down from the resistance zone surrounding the resistance level 0.9500. AUD/CAD is likely to fall further to the next sell target at the support level 0.9300 (which previously reversed the price in November of 2015, as can be seen below). https://new.fxbazooka.com/img/articl...CAD-May-26.png More: https://new.fxbazooka.com/analytics/9063 |
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EUR/USD: the nearest resistance is waiting for bulls
5/27/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png Bulls have slowed down after the price reached a resistance at 1.1217. However, the market is likely going to test this resistance once again in the short term. If a pullback from there happens, there’ll be the very special moment for bears to set up a decline toward the last low. https://new.fxbazooka.com/img/articl...016-EUR-H1.png As we can see on the one-hour chart, the pair has been moving up and down between a resistance by the 89 Moving Average and a support at 1.1167. Therefore, the market is likely going to get a resistance at 1.1217 during the day, which could be the bulls' last gasp. More: https://new.fxbazooka.com/analytics/9067 |
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GBP/USD: bears are trying to turn the tide of battle after the "Double Top"
5/27/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png The pair has faced a resistance at 1.4738, so we’ve got a “Double Top” pattern, which has been confirmed. Therefore, the market is likely going to decline towards the nearest support at 1.4576. Nevertheless, bulls are still all around, so if we see a pullback from the support, a new upward movement becomes possible in the direction of the last high. https://new.fxbazooka.com/img/articl...016-GBP-H1.png We’ve got a local “Flag” on the one-hour chart, so bears are likely going to get a support somewhere between the 89 Moving Average and the level at 1.4585. If sellers be stopped here, there’ll be an opportunity to see bulls’ attempts to return into the market. More: https://new.fxbazooka.com/analytics/9068 |
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EUR/USD: bears are attacking bulls by the "Shooting Stars"
5/27/2016 https://new.fxbazooka.com/img/articl...05eurusdh4.png There’s a “Tweezers” on the “Window’s” upper side, which has been confirmed. After a while, an “Engulfing” arrived on the Moving Average, but a “Harami” was formed in the short run, so an upward movement becomes possible in the direction of the 34 Moving Average and the upper “Window”. As we can see on the Daily chart, here’s a “Harami”, which has been confirmed. Therefore, the market is likely going to moving up during the day. https://new.fxbazooka.com/img/articl...05eurusdh1.png We’ve got a correction inside the main bearish trend. There’re a couple of “Shooting Stars” at the local highs, but their confirmations are weak. So, the pair is likely going to reach the nearest support, but bulls will probably try to get the 144 Moving Average afterwards. More: https://new.fxbazooka.com/analytics/9069 |
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USD/JPY: bulls holding the fort
5/27/2016 https://new.fxbazooka.com/img/articl...05usdjpyH4.png There’s a “Harami” at the local low, but its confirmation is weak, because the price movement hasn’t reached the middle of the last huge black candle. So, the current consolidation is likely going to move on. As we can see on the Daily chart, here’s a strong support by the 13 Moving Average. The bearish “Harami” and “Tower” haven’t been confirmed, so the price is free to continue the current upward movement until any bearish pattern arrives. https://new.fxbazooka.com/img/articl...05usdjpyH1.png We’ve got a flat in progress in a range of the last black candle. The price reached the nearest support once again, so it’s possible to a rise in the short term. The main target is still the maximum, which was formed in 2014. More: https://new.fxbazooka.com/analytics/9070 |
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Forex trading plan for May 27
5/27/2016 US dollar index declined for the second day, despite the fact that American durable goods orders showed larger gains than expected. Among the important things to pay attention to on Friday we should cite the release of the US preliminary GDP at 12:30 GMT (positive forecast) and the speech of the Federal Reserve’s Chairwoman Janet Yellen at 17:15 GMT. If Yellen follows the number of the Fed members who pointed out that the central bank could increase rates this summer, US dollar should get a new push to the upside. Oil prices rose above $50 a barrel as US crude inventories decreased. Note, however, that concerns about US interest rates and China’s economic slowdown may limit further gains. EUR/USD recovered to 1.1200, though there’s resistance at 1.1218/25. Next resistance levels lie at 1.1240 and 1.1300. Support is at 1.1135, 1.1100 and 1.1050. The short-term trend for the euro is still bearish. GBP/USD paused above 1.4700. The UK’s latest GDP report showed that British economy added only 2.0% year-on-year in Q1 failing to meet the annual forecast of 2.1%. Resistance is at 1.4770 (May high, 200-day MA). Support is at 1.4635 and 1.4550. USD/JPY is consolidating within a triangle (109.00-110.50), which means that an increase in volatility will happen soon. It seems that there are some heavy sellers at the top of this range, so its downside border seems more vulnerable. More: https://new.fxbazooka.com/analytics/9071 |
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US Dollar: forecast for May 30 - June 5
5/27/2016 Traders’ eyes all over the world are glued to the US Dollar these days: are we now entering a new phase of the greenback’s strength? Do we need to prepare ourselves for the new shocks on global markets? Last week we’ve seen a bunch of upbeat US data: US durable goods orders surged in April on increased transportation demand, while the pending home sales reached their highest level in almost a year. We see that the US economic fundamentals are quite sustainable, so the major question is now about the rate expectations. Big names of the US officials are standing in line to warn that a rate hike is coming in the nearest future. The Fed’s member Powell joined the party last week. The market is now quickly repricing the number of rate hikes in 2016 – the chance is rising from 1 to 2 or 3 hikes. US economic calendar for the new week is very active. On Monday, markets will be closed due to a bank holiday. On Tuesday, we’ll watch the personal spending figures and consumer confidence index. On Thursday, apart from the OPCE meeting, we’ll be watching an ADP NFP and unemployment claims, while on Friday markets will focus on the official labor market figures. In April the US economy added only 160K new jobs, but the wage inflation showed some signs of rising. May NFP consensus is seen at 163K. A better reading will clearly trigger a rally of the US currency. https://new.fxbazooka.com/img/articles/9072/USD.png More: https://new.fxbazooka.com/analytics/9072 |
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GBP/USD: forecast for May 30 - June 5
5/27/2016 Broadly speaking, June is expected to become a volatile month for the British currency. Markets remain occupied with the Brexit referendum due on June 23. If the United Kingdom votes to abandon the European Union (EU), sterling could lose its role of the world reserve currency and depreciate significantly in all the major currency pairs. According to Britain’s Finance Minister Osbourne, a Brexit could pull the UK economy into a long-lasting recession, potentially forcing the extermination of more than 800,000 jobs in two years. All these expectations are expected to hurt the British pound in the coming weeks. From the technical viewpoint, GBP/USD has been forming a rising wedge pattern since February. We see potential for a double top with resistance at 1.4760 being formed before the long-term downside is resumed. Key support is now seen at 1.4500. Break below would confirm the end of the bullish move. This forecast coincides with the rising US rate hike expectations. https://new.fxbazooka.com/img/articl...BPUSDDaily.png More: https://new.fxbazooka.com/analytics/9074 |
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GBP/JPY reversed from resistance zone
5/27/2016 -GBP/JPY reversed from resistance zone -Next sell target - 158.00 GBP/JPY continues to decline – following the earlier downward reversal from the resistance zone lying between the pivotal resistance level 162.50 (which has been reversing the price from the end of March), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp intermediate downward impulse (5) from the start of February. The downward reversal from the aforementioned resistance zone completed the previous intermediate ABC correction (2). GBP/JPY is likely to fall further toward the next sell target at the support level 158.00 (which reversed the price earlier this month, as can be seen below). More: https://new.fxbazooka.com/analytics/9075 |
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EUR/USD falling inside impulse waves 3 and (3)
5/27/2016 -EUR/USD falling inside impulse waves 3 and (3) -Next sell target - 1.1130 EUR/USD recently reversed down from the resistance level 1.1220 (former support level and the sell target set in our previous forecast for this currency pair, acting as resistance now after it was broken by the active minor impulse wave 3). The active impulse wave 3 belongs to the intermediate downward impulse wave (3), which started earlier this month – when the pair reversed down sharply the daily Falling Star from the long-term resistance level 1.1600, as can be seen below. EUR/USD is likely to fall further in the active impulse waves 3 and (3) toward the next sell target at the support level 1.1130 (which reversed the price earlier this week). https://new.fxbazooka.com/img/articl...USD-May-27.png More: https://new.fxbazooka.com/analytics/9076 |
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DAX rising inside C-wave
5/27/2016 DAX rising inside C-wave Next buy target - 10480.00 DAX has been rising steadily in the last few trading sessions inside the C-wave of the intermediate ABC correction (2) from the start of May. The active C-wave earlier broke through the resistance level 10100.00 (upper boundary of the narrow price range inside which the pair has been trading from the start of this month, as can be seen from the daily DAX chart below). The breakout of this price range intensified the bullish pressure on this index. DAX is likely to rise further in the active waves C and (2) toward the next buy target at the resistance level 10480.00 (forecast price for the termination of wave C and the top of the previous primary ABC correction ②). https://new.fxbazooka.com/img/articl...DAX-May-27.png More: https://new.fxbazooka.com/analytics/9077 |
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NYMEX trades almost flat
5/30/2016 On Monday, in Asia, crude oil prices gave up their early revenues and found themselves in flat territory with holidays in America and Great Britain supposed to keep trade light, while markets are currently looking ahead to an OPEC gathering close to the end of this week. In New York, July delivery oil futures surged 0.04%, hitting $49.35 per barrel. As for Brent crude futures, they traded $49.85, showing a 0.2% sag. Market participants will be looking ahead to the Organization of Petroleum Exporting Countries gathering in Vienna, Thursday. The vast majority of market analysts expect the number one crude organization to keep its output quota intact amid surging prices. By the way, the OPEC’s recent gathering in April didn’t give any agreement as for output freeze at current levels due to Iran’s refusal to meet the initiative. Apart from that, crude traders are going to pay attention to American stockpile data to be released on Wednesday and Thursday. The data is expected to bring new supply-and-demand signals. More: https://new.fxbazooka.com/news/6668 |
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Gold drops in Asia as traders digest Fed views
5/30/2016 On Monday, gold sank with markets in America and Great Britain closed for holidays and traders focused on a probable Fed interest rate lift as early as next month. Japanese retail sales for April went down 0.8%. It’s definitely less than the 1.2% dip expected year-on-year. American markets are going to be closed for the Memorial Day holiday. In New York, August delivery gold futures lost 0.97%, trading at $1,204.85 per troy ounce. July delivery silver futures edged down 0.47%, reaching $2.101 a pound. Copper traders are going to look out for a couple of reports on Chinese manufacturing sector due on Tuesday, along with everlasting worries as for the number two economy’s health. This Asian nation appears to be the world’s major copper consumer. Indeed, it accounts for almost 45% of world consumption. In the week ahead, market participants are going to focus on Friday’s American nonfarm payrolls report for May to indicate if the world's leading economy is strong enough to digest further rate lifts this year. More: https://new.fxbazooka.com/news/6669 |
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Greenback surges on Fed rate hike bets
5/30/2016 On Monday, the evergreen buck managed to hit its one-month peak against the Japanese counterpart, while standing still against other peers right after comments by Janet Yellen, the Fed Chair, enhanced the prospects of an upcoming American interest rate lift. Besides the latest hawkish statement from the Fed, political developments in Japan were also seen backing up the greenback against Japan’s currency. Shinzo Abe, Japanese Prime Minister told he would about to delay a sales tax lift planned for next April by about two and half years. Japan’s currently working out a supplementary budget in order to boost its struggling economy, a move widely expected to be followed by the BOJ’s further monetary easing. The greenback surged above 111.00 yen. That’s the first soar since late April. The dollar hit 111.03 yen at one point. In general, fiscal policy is quite positive for the Japanese yen. However, if the stimulus goes along with further monetary easing, it’s considered to be a yen-weakening factor because it generates the concept of helicopter money. More: https://new.fxbazooka.com/news/6670 |
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South Korea April department store sales hit a three-month peak
5/30/2016 In April, South Korean department store sales edged up at the fastest tempo for three months, according to the final government data issued on Monday. It’s because warmer weather as well as more holidays in that month opened customers’ wallets. In April, combined sales at department stores run by Lotte Shopping, Hyundai Department Store and Shinsegae Co went up 4.3% from the previous year, as the Ministry of Trade, Industry and Energy states. It definitely accelerated from a 0.3% soar in March and appeared to be the best performance since January’s 9% leap. An extra public holiday in mid-April due to the parliamentary election greatly assisted to drive sales, already backed up by warmer-than-usual weather. Sales of well known foreign brands edged up the most among department store goods, leaping 8.6% on-year in April because last month the average daily high temperature hit 20.3 degrees Celsius, which is 18.8 degrees higher than last April. More: https://new.fxbazooka.com/news/6671 |
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Nikkei surges over 1% after Fed comments
5/30/2016 On Monday, the vast majority of Asian stocks climbed up slightly with traders purchasing shares in Japanese exporters as well as other underperforming sectors. The Nikkei Stock Average soared 0.9%, driven by weakness in the Japanese yen amid the greenback’s broad strength, thus powering export-oriented companies. On Monday, the yen dared to touch ¥111 against the greenback, which soared on comments by the Fed’s head. Among Tokyo-listed exporters, we should point out to Honda Motor with its 2% surge, Toyota Motor with +1.3% and Canon, demonstrating a 0.6% rise. A weaker currency helps the overall competitiveness of local companies paying costs at home as well as repatriating earnings from abroad. Meanwhile, Hong Kong’s benchmark Hang Seng China Enterprises Index, normally tracking the movement of Chinese companies listed in the city, soared 0.7% after dipping more than 11% so far in 2016. The broader Hang Seng Index gained 0.8% too, while shares South Korea, Australia and Shanghai mostly stood still. More: https://new.fxbazooka.com/news/6672 |
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Aussie and kiwi descend against greenback
5/30/2016 The Australian and New Zealand dollars slumped against their major US counterpart, because comments by Janet Yellen, Fed Chair powered the greenback, while dropping oil also weighed on the commodity currencies. The currency pair AUD/USD went down 0.29%, trading at 0.7160, near last week’s almost three-month minimum of 0.7142. The evergreen buck strengthened when Janet Yellen, Fed Chair told on Friday that it would be a good move for the US major bank to lift rates cautiously and gradually in the nearer future if the US economy as well as the labor market gain as expected. The evergreen buck was also driven after the US Commerce Department posted on Friday that GDP went up at an annualized rate of 0.8% for the three months to March, which is higher than the expected estimate of 0.5%. In Australia, Monday’s data showed that company operating profits sagged by 4.7% in the first quarter, compared to expectations for a 0.1% surge and after a 2.8% dip in the three months to December. The currency pair NZD/USD tumbled 0.33%, trading at 0.6682. More: https://new.fxbazooka.com/news/6673 |
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German negotiated wages lift by 2.1% in the first quarter
5/30/2016 In Germany, negotiated wages managed to go up by 2.1% in the first quarter compared with the same last years’ period, according to the data published on Monday. It undoubtedly drove expectations that private consumption is going to rise in the EU’s number one economy this year. As reported by the Statistics Office, negotiated wages come with collectively agreed basic pay, to say nothing of special payments such as one-off payments, back payments as well as annual bonuses from wage deals. In fact, negotiated wages edged up more steeply compared to consumer prices, which soared by 0.3% for the same period. Approximately 19 million employees in this European country are represented by unions, traditionally negotiating pay agreements every one or two weeks. Financial experts point out that wage hikes secured by German unions for about 6 million employees so far this year appear to be relatively modest compared with last year's agreements. https://new.fxbazooka.com/news/6674 |
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French growth is stronger than expected
5/30/2016 In the first quarter, the French economy demonstrated a strong-than-expected 0.6% surge, according to the official data unveiled on Monday. The given growth was reportedly powered by a leap in consumer spending as well as a pick-up in business investment. The upbeat growth figures, that augured perfectly for the government’s 1.5% target for the whole year, appeared to be the latest positive developments for the Eurozone’s second-largest economy, where unemployment has started going down, while customers are more upbeat notwithstanding protests and strikes. A poll of up to 15 experts surveyed by Reuters forecast French GDP to remain intact at 0.5% that INSEE had firstly reported in its preliminary evaluation. Considering the revised figure, it appeared to be just the second time for three years that growth leapt above 0.5% in France. In the quarter to end-March growth was powered by a 1 percent soar in consumer spending, with INSEE revising abruptly upward its March value in a separate release as well as a 1.6% surge in investment. More: https://new.fxbazooka.com/news/6675 |
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Greenback is backed up by US rate view
5/31/2016 On Tuesday, the evergreen buck fluctuated close to its highest peak for two months against other key currencies, thus following surging hopes on an imminent American interest rate lift, while the Australian dollar suddenly strengthened due to local strong data. On Monday, the greenback index against six key currencies soared to 95.968, having leapt 4.4% from its 15-1/2-month minimum achieved earlier this month at 91.919. Last it traded at 95.662. The latest spark for greenback bulls came from Janet Yellen, Fed Chair, who told on Friday that a rate lift in the nearer months would be for good, if the US economy along with labor market kept going up. On Monday, the common currency tumbled to as low as $1.1097, the lowest minimum since mid-March, though it managed to rebound from that level. Last it traded at $1.1150. The greenback also hit a one-month peak of 111.455 yen on Monday right before rebounding to 111.09 yen. Better-than-expected industrial output data as well as month-end buying by Japanese exporters backed up the Japanese yen. More: https://new.fxbazooka.com/news/6676 |
Re: Market news and trade recommendations by FBS
NYMEX crude rises in Asia, Brent drops
5/31/2016 On Tuesday, NYMEX crude oil futures soared in Asia, while Brent crude futures edged down right after thin overnight deals as market participants considered the impact of crude supply disruptions against the outcome of a long-awaited OPEC gathering a bit later this week. The meeting is supposed to do little to alter global oversupply. In New York, July delivery crude futures soared 0.39%, trading at $49.51 per barrel. At the same time, Brent oil futures sagged 0.34%, being worth $50.19 a barrel. On Monday overnight, crude prices appeared to be somewhat lower in North American trade because traders paid attention to improving global supply outlook. Hopes for a surge in Canadian oil sands output this week mounted as crude producer Suncor Energy unveiled its ambitious plans to increase production at its fields in Alberta right after it had to shut them down a bit earlier in May because of huge wildfires. Supply outages due to Canadian wildfires as well as unrest in Nigeria have pushed crude prices above the $50-level last week. Nevertheless, as some of the supply disruptions have faded away, traders are currently putting their focus back on the growth of global crude supply. More: https://new.fxbazooka.com/news/6677 |
Re: Market news and trade recommendations by FBS
Japan factory output suddenly surges
5/31/2016 In April, Japanese factory output suddenly soared. It’s because a batch of earthquakes in the southern part of Japan didn’t have a great effect on production and it definitely powers hopes for the national economy currently squeezed by weak consumption and exports. Household spending dropped less than expected in that month, while job availability reached a 24-year peak, a definite relief for Shinzo Abe, Japan’s prime minister, expected to delay a planned sales tax lift next year to avert a hammer blow to rather a fragile economic recovery. The overall effect on production from the earthquakes might linger with high inventory levels. However, the chance Japan can avert a huge tumble in its second-quarter GDP has surged, as some analysts state. In April, factory output went up 0.3% from the previous month, thus confounding market forecasts for a 1.5% dip drop and following a 3.8% soar in March, according to the data offered by the Ministry of Economy, Trade and Industry on Tuesday. More: https://new.fxbazooka.com/news/6678 |
Re: Market news and trade recommendations by FBS
China stocks demonstrate the biggest one-day gain
5/31/2016 On Tuesday, Chinese stocks showed the greatest one-day revenue for two months, driven by growing optimism that they might be soon included in an influential global benchmark. In China, the Shanghai Composite Index increased 2.6%, the most impressive intraday move since March. As for the smaller Shenzhen Composite Index, it ascended 2.8%, while the tech-focused ChiNext index acquired 3.2%. In other Asian regions, Japanese Nikkei Stock Average gained 0.7%, Korean Kospi acquired 0.5% and the Hang Seng index soared 1.2%. Simultaneously, Australian S&P/ASX 200 lost 0.2%. Experts as well as investors were mostly expecting the global index provider, MSCI to add mainland-traded Chinese shares or A-shares soon, right in its Emerging Markets Index. The funds managing up to $1.7 trillion normally track this benchmark worldwide. Market participants are currently anticipating that MSCI’s inclusion of A-stocks right into the index is going to channel billions in passive asset-management money into the number two economy, thus raising share prices. More: https://new.fxbazooka.com/news/6679 |
Re: Market news and trade recommendations by FBS
Kiwi and Aussie climb up on upbeat data
5/31/2016 On Tuesday, the New Zealand and Australian dollars edged up against their major American counterpart, driven by the issue of positive data from both New Zealand and Australia, though hopes for an American rate lift this summer kept backing up the evergreen buck. The currency pair AUD/USD gained 0.86%, being worth 0.7244, the highest value since May 23. On Tuesday, the Australian Bureau of Statistics informed that building approvals soared by 3.0% in April, thus ruining hopes for a 3.0% dive. In March, building approvals went up by 2.9%. A separate post unveiled that Australian current account deficit managed to narrow to A$20.8 billion in the first quarter right from A$22.6 billion in the previous year’s fourth quarter. Financial experts had expected the current account deficit to narrow to approximately A$19.5 billion in the last quarter. As for the currency pair NZD/USD, it ascended 0.45%, trading at 0.6725. Apart from that Tuesday’s data disclosed that in May, the ANZ business confidence index for New Zealand soared to 11.3 from a reading of 6.2 last month. More: https://new.fxbazooka.com/news/6680 |
Re: Market news and trade recommendations by FBS
Gold struggles close to 3-1/2 month minimum
5/31/2016 On Tuesday, during European trade gold futures struggled close to their lowest minimum for three months because traders are getting back from the long Memorial Day weekend awaited data, which could potentially back some Fed officials’ upbeat views on the American economy. The Commerce Department is going to release its core personal consumption expenditure index or PCE for April, along with personal income as well as spending for the same period soon. Furthermore, traders are awaiting data from the Conference Board. Solid readings could further increase expectations for a move as soon as the Fed’s next policy gathering is scheduled on June 14-15. In New York, June delivery gold futures sank $1.95, trading at $1,214.75. Yesterday, the number one precious metal tumbled to a trading session minimum of about $1,199.00, a level not observed since February 17, as market participants kept factoring in an increased chance of a near-term American interest rate rise. More: https://new.fxbazooka.com/news/6681 |
Re: Market news and trade recommendations by FBS
German retail sales report shocking dip in April
5/31/2016 In April, German retail sales found themselves in negative territory, going down by approximately 0.9%, which appeared to be their second consecutive decrease. That definitely cast some doubt over hopes that consumer spending is going to power growth in the EU’s number one economy because foreign trades edges down. The volatile indicator, often subject to frequent revisions, dared to completely ruin expectations in a Reuters poll for a 0.9% surge on the month, according to the data provided by the Federal Statistics Office unveiled on Tuesday. By the way, March’s data was revised down to an obvious decline of 1.4 from a previously posted drop of 1.1%. Apart from that, on the year, retail sales managed to go up 2.3% in real terms. It appeared to be a serious market soar, especially compared with a downwardly revised surge of about 0.6% last month. Meanwhile, financial analysts surveyed by Reuters had hoped for a more moderate ascend of 1.9%. More: https://new.fxbazooka.com/news/6682 |
Re: Market news and trade recommendations by FBS
FTSE 100 goes up driven by strong Asian lead
5/31/2016 British shares kicked off the holiday-shortened trading week somewhat higher with market participants deriving inspiration from Asia, in particular from Chinese shares, showing the greatest ascend for three months. The FTSE 100 index gained up to 0.2%, trading at 6,283.68, thus finding itself on track for its most impressive gain since April. The given benchmark posted a 1.9% revenue last week. On Monday, British markets were unavailable due to the late May bank holiday, while trading on American markets was closed too because of the Memorial Day holiday. Tuesday’s surge for the FTSE 100 arose on the back of a positive trading session in Asia, where the Shanghai Composite Index closed +3.3%. It went up following increased upbeat sentiment that Chinese shares might soon be included in the crucial MSCI global benchmark. The revenues in London were also backed up by the fact that markets are quite confident that if the US major bank gets down to another rate lift in June, the American economy is supposed to be sturdy enough to handle the probable fallout. More: https://new.fxbazooka.com/news/6683 |
Re: Market news and trade recommendations by FBS
ISM Manufacturing Preview: ¿Greenback strength to continue?
6/1/2016 Today, June 1st, will be released in United States the ISM Manufacturing PMI at 14:00 GMT, which should have a decline to 50.5 from the 50.8 that was registered in April, according to the latest consensus for May. During the 2016, Manufacturing surveys has shown some mixed tone in their results, as during Q1 it had only one positive reading (March: 49.5, from 48.2) and Q2 is having an average of 51.3 in the reading. Recent US regional manufacturing's surveys has been showing some negative tone and eventually it could end with a negative reading for May, which also can have a little negative effect on the US Dollar. However, a reading above the forecast (50.5) and the 50.8 could give another bullish momentum to the greenback, which has been gaining some strength in recent days. An example can be seen on the USD/CHF daily chart, where we should note that it broke a secondary bearish trend line and it's heading to the parity zone. That positive reading of ISM Manufacturing could make that possible, as the technical overview is favoring to that scenario. 50-SMA and 200-SMA are both heading to the upside, where another bearish trend line is placed (around 1.0030 price zone). https://new.fxbazooka.com/img/articl...SDCHFDaily.png More: https://new.fxbazooka.com/analytics/9107 |
Re: Market news and trade recommendations by FBS
GBP/USD: "Triple Top" as the driving force of the bearish revolution
1/6/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png There’s a “Triple Top” at the last high, which has been confirmed. Therefore, the price is falling down. We’ve got a pullback from a support at 1.4473, so it’s possible to see an upward correction in the short term. Anyway, bears are still strong, so the decline is likely going to be continued soon. https://new.fxbazooka.com/img/articl...016-GBP-H1.png As we can see on the one-hour chart, there’s a “V-Top”, which led to the current downward movement. However, here’s a “Double Bottom” at the local low, so an upward correction becomes possible. Therefore, we should keep an eye on a resistance at 1.4548 as the probable bullish target. More: https://new.fxbazooka.com/analytics/9111 |
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