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  #721  
Old 02-05-2019, 08:24
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Default Re: Hotforex.com - Market Analysis and News.

Date : 2nd May 2019.

MACRO EVENTS & NEWS OF 2nd May 2019.




FX News Today

* Asian stock markets traded mixed in quiet trade, with China and Japan still on holiday.

* The Fed held rates steady, as expected but it dealt a blow to hopes of an “insurance” rate cut, while stressing patience and data dependence for the policy outlook.

* Fed chair Powell indicated that low inflation might be transitory, and that global growth concerns had eased.

* The USA30 was down -0.61% at the end, the USA500 lost -0.75%.

* The ASX also dipped -0.74% after the nation’s biggest lender cut its dividend, but benchmarks in South Korea and Hong Kong ticked higher after reports from CNBC saying the US and China could announce a trade deal as soon as next Friday.

* Oil prices fell to USD 63.39 overnight with US stockpiles weighing.

* Gold futures rallied slightly after the FOMC announcement, as the USD fell, and yields headed lower, topping at $1,289.05 from $1,285.00. The contract later fell under $1,275.00, a one-week low.

* Sterling has outperformed for a 2nd day, floated by optimism on the Brexit front.

Charts of the Day



Technician’s Corner

* GBPUSD has Support at 1.3010, and Resistance at 1.3103, the latter levels encompassing the current situation of the 50-day moving average.

* XAUUSD is trading below 1,272.00. after Fed chair Powell indicated that low inflation might be transitory, and that global growth concerns had eased. This saw the USD and Treasury yields head higher, both weighing on gold prices. Given the strong ADP number, the USD expected to remain underpinned into tomorrow’s release of the April US payrolls report.

* EURUSD fell from a high of 1.1264 to a post-Powell low of 1.1187 before settling to a narrow range around 1.1200. Support holds at 1.1160-1.1185 and REsistastance is set at 1.1210-1.1215.

Main Macro Events Today

* Interest rate Decision and Conference (GBP, GMT 11:00) – BoE should remain on hold now until the Brexit D-day. If the transition runs smoothly we might see another 25 bp hike in May 2019. The BoE has cautioned that the outlook will “depend significantly on the nature of EU withdrawal,” and noted that “uncertainty has intensified.” Thus, consensus forecasts suggest no change in the policy rate in this meeting and an unchanged 9-0 MPC voting.

* US Q1 Nonfarm Productivity (USD, GMT 12:30) – Q1 productivity should post a 1.2% rate of growth, down from 1.9%, with unit labor costs rising 2.3% from 2.0%.

Support and Resistance Levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Head Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #722  
Old 03-05-2019, 11:32
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Default Re: Hotforex.com - Market Analysis and News.

Date : 3rd May 2019.

MACRO EVENTS & NEWS OF 2nd May 2019.




FX News Today

* Stock markets mostly managed slight gains in quiet trade across Asia as Japan and mainland China remained closed for holidays and with investors positioning for the US jobs report.

* BoE yesterday warned that in the central scenario of a smooth Brexit transition rates will have to go up more and faster than markets currently expect.

* Overnight big drop in Australian Building approvals as the market corrected from a big rise in February.

* Earnings also remained in focus with better than expected profits reported by HSBC helping to underpin shares in Hong Kong while a profit warning from Macquarie weighed on the ASX.

* US stock futures are also moving higher after closing broadly lower on Thursday, following alongside Treasury yields as the market further digested yesterday’s signal from the Fed that a rate cut is not on the menu this year.

* US-Sino trade talks also remain in focus and will add to volatility until a deal is finally on the table.

Charts of the Day



Technician’s Corner

* EURUSD touched a low of 1.1165 into the London open. The pair dropped nearly 100 points from the highs, while the close yesterday under the 1.1200 mark suggests an increasing bearish bias for the Euro. Resistance now sits at 1.1200, or further up to 1.1220 (20 DMA), with Support at 1.1145, the April 29 low.

* USOIL failed to recover yesterday. It remains down nearly 4%, bottoming so far at $61.03. Price weakness has come following the EIA reporting US inventories at near 2-year highs on Wednesday. Supplies are expected to increase further in the next month, as refinery maintenance curbs crude demand. Hence, the $60.50 level is now a key Support, representing both the 50- and 200-day MAs.

Main Macro Events Today

* Consumer Price Index (EUR, GMT 09:00) –The Euro Area CPI is expected to come out at 1.6% y/y, above March’s outcome.

* NFP and Labour Market Data (USD, GMT 12:30) – April nonfarm payrolls are expected to have stood by 190k, with a 180k private payroll gain. Hourly earnings are expected to rise 0.3% for a y/y gain of 3.3%, up from 3.2% in March.

Support and Resistance Levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Head Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #723  
Old 06-05-2019, 10:10
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Default Re: Hotforex.com - Market Analysis and News.

Date : 6th May 2019.

MACRO EVENTS & NEWS OF 6th May 2019.




FX News Today

* Japan remains closed for holidays.

* Elsewhere, China’s April services PMI is due, seen at 54.5 from 54.4.

* In the Asia region risk aversion spiked after US President Trump issued threats of new tariffs on imports from China in a bid to up the pressure in trade negotiations.

* Chinese Vice Premier Liu He is scheduled to return to Washington for trade talks on Wednesday, but after Trump’s threat China is now considering cancelling this week’s round of talks.

* North Korea launched missiles over the weekend, which included the first ballistic missile launch since 2017; this saw investors heading for safety.

* Treasury futures are allying, while yields across Asia are plummeting sharply and stocks selling off.

* Australia’s 10-year bond yield fell nearly 5 bp amid the general flight for safety and as markets position for a rate cut ahead of tomorrow’s RBA decision.

* US futures are posting losses in the region of 1.8-1.9%.

* The front end WTI future is trading at USD 60.45 per barrel.

Charts of the Day



Technician’s Corner

* EURUSD retested 1.1200 highs, up from the 1.1135 lows seen immediately after the US jobs report. The Dollar overall took a hit on Friday and again today. Though the pair closed the week with modest gains (bullish weekly candle), it remains well off of Wednesday’s high of 1.1265 and within the lower BB area, while intraday indicators have been flattened suggesting intraday consolidation. The Resistance comes in at 1.1228, the 20-day MA and Support at 1.1166. As the US economy is in a solid growth with low inflation sweet spot, the EURUSD is seen following the 1-year downchannel forming lower highs and lower lows.

* AUDUSD fell below the round 0.7000 level below to recover yesterday. As Bollinger Bands extend southwards and momentum indicators are sloping towards oversold barrier, another negative session along with the continuation of lower highs, implies a move towards 0.6800-0.6900 area.

Main Macro Events Today

* Markit Composite PMI and Retail Sales (EUR, GMT 08:00-09:00) – The EU Composite PMI is expected to remain at the three-month low of 51.3 in April, while Retail Sales are forecast to slip to 0.1% m/m in March, with the annual rate decelerating to 2.3% y/y from 2.8% y/y.

* Fed speeches – Fed reports its Senior Loan Officer Survey. Fed President Harker discusses the economic outlook.

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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Head Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #724  
Old 07-05-2019, 11:03
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Default Re: Hotforex.com - Market Analysis and News.

Date : 7th May 2019.

MACRO EVENTS & NEWS OF 7th May 2019.




FX News Today

* Stock market still struggled during the Asian session though and European stock futures are down on the day, as are US futures, although the latter managed to pare some of their overnight losses.

* RBA left cash rate unchanged at 1.5% for now, as federal election looms. The ASX was knocked off highs.

* Trump’s top trade negotiator meanwhile confirmed that Washington plans to go ahead with tariff hikes on Chinese goods on Friday.

* China vice-premier Liu Hewill visit Washington on May 9-10.

* Indices in China and Hong Kong, which started stronger started to pare gains leaving the Hang Seng down -0.11%, the CSI 300 up 0.15% as of 5:32GMT, versus losses of -1.29% and -1.61% in Topix and Nikkei. .

* WTI future managed to climb to USD 62.29.

* German manufacturing orders rebounded 0.6% m/m, -4.0% m/m contraction in the previous month, and showed a sharp decline in orders inflow in the first quarter of the year, highlighting the impact of geopolitical trade tensions on the manufacturing sector in particular.

Charts of the Day



Technician’s Corner

* USA500 rebounded from 2882 lows, up to 2927 area. As the asset sustains gains above the 20-day MA, with momentum indicators positively configured, the next Resistance area comes at 2848-2960. Support is set athe PP of the day and also the low of the day at 2909.78. RSI is at 57 and sloping higher, in contrast with MACD which suggest weakness of the positive momentum.

* USDJPY recovered from the 1-month low of 110.28 s topping at 110.95 in late NY morning trade. Currently is consolidating around PP level at 110.65. As yesterday’s candles closed outside Bollinger Bands area pointing an oversold asset, while 50- and 200-day MAs have been flattened implying to a near-term ranging market, the asset is expected to enter a consolidation mode. Resistance is now at Friday’s 111.07 low, though the downturn in US Treasury yields may limit gains going forward.

Main Macro Events Today

* Ivey PMI (CAD, GMT 14:00) – A survey of purchasing managers, the Index provides an overview of the state of business conditions in the country. Expectations suggest that the Index will decline to 51.1 compared to 54.3 last month, although still remain above 50.

* BoJ Minutes (JPY, GMT 23:50) – BoJ Minutes are expected to shed more light as to how Japanese policymakers are assessing the current global slowdown and whether they plan any further policy actions.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #725  
Old 09-05-2019, 10:51
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Default Re: Hotforex.com - Market Analysis and News.

Date : 9th May 2019.

MACRO EVENTS & NEWS OF 9th May 2019.




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



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



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #726  
Old 10-05-2019, 10:29
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Default Re: Hotforex.com - Market Analysis and News.

Date : 10th May 2019.

MACRO EVENTS & NEWS OF 10th May 2019.




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



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



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #727  
Old 13-05-2019, 10:27
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Default Re: Hotforex.com - Market Analysis and News.

Date : 13th May 2019.

Events to Look Out for Next Week.




Markets could keep being restive as the trade war escalates, with concerns rising regarding a response from China. Meanwhile, the main focus should turn to the US as the week ahead includes a heavy slate of economic reports that will include important updates on consumption, inventories, factory output, sentiment, and the housing sector.

* Tuesday – 14 May 2019

* Harmonized Index of Consumer Prices (EUR, GMT 06:00) – The preliminary German HICP inflation for April was higher than initially expected, at 2.1% y/y. However the final reading is expected to fall back to 1.7% y/y.

* Average Earnings (GBP, GMT 08:30) – Average Earnings excluding bonus for March is expected to hold at 3.4%. The ILO unemployment rate (3-month) is expected to have remained at 3.9%.

* ZEW Economic Sentiment (EUR, GMT 09:00) – Economic Sentiment for May is expected to decline to 1.0 compared to 4.5 last month.

* Wednesday – 15 May 2019

* Gross Domestic Product (EUR, GMT 06:00) – German Preliminary Q1 results are expected to come in stronger than expected at 0.3%, after confirmed at 0.0% q/q for Q4 2018. Eurozone prelim. Q1 GDP growth expected to be confirmed at 0.4% q/q.

* Retail Sales and Core (USD, GMT 12:30) – We expect readings of 0.2% for April retail sales and 0.7% for ex-auto sales, following a 1.6% increase for the March headline and a 1.2% increase ex-autos. Unit vehicle sales slowed in April, and gasoline prices should continue to boost retail activity given an estimated 5.5% increase in the CPI for gasoline.

* Consumer Price Index (CAD, GMT 12:30) – The Canadian CPI is expected to slip to 0.3% from the 0.7% reading the past 2 months.

* Thursday – 16 May 2019

* Employment Data (AUD, GMT 01:30) – Australian labour market data is expected to deteriorate, as the unemployment rate expected to increase to 5.1% in April from 5.0% last month, while employment is anticipated at 14K from 25.7K in March.

* 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.

* Friday – 17 May 2019

* 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.

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #728  
Old 14-05-2019, 08:30
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Default Re: Hotforex.com - Market Analysis and News.

Date : 14th May 2019.

MACRO EVENTS & NEWS OF 14th May 2019.




FX News Today

* The stock sell off that was triggered by new US tariffs and China’s retaliation measures announced yesterday eased somewhat during the Asian session after some conciliatory comments from US President Trump and likely also thanks to suspected buying of state backed players in China.

* The Yen declined after Trump said he will meet China’s Xi Jinping at next months G20 summit.

* Topix and Nikkei are still down -0.70% and -0.81%.

* The US Trade Representative’s office released a list of about USD 300 bln worth of Chinese goods that Trump also threatened to hit with a 25% tariff.

* European futures are moving higher in tandem with US futures ahead of the opening.

* The WTI future meanwhile is trading at USD 61.15 per barrel, up from an earlier low of USD 60.73.

* German inflation lifted above 2% limit in April,largely thanks to higher energy prices, as well as the Easter effect.

Charts of the Day



Technician’s Corner

* EURUSD eased from near 2-week highs of 1.1263, touching 1.1218 lows before steadying. EURUSD is back under its 50-day moving average of 1.1249. Continued uncertainty on the trade front, should keep risk-appetite contained, which could see the Dollar remain firm on a flight to safety trade.

* USDJPY has dropped to 3-plus month lows of 109.09, falling 50 points. Safe-haven Yen buying ratcheted up quickly on the report, while severe risk-off conditions, seeing US equity futures plummet, and Treasury yields slide, has weighed heavily on the pairing. The January 31 low of 108.50 is the next support level.

* USOIL has given back its earlier 2% gains, trading down at $61.20. Overnight gains came following attacks on two Saudi tankers near the Strait of Hormuz, though since then, the ramped up US/China trade war has spooked oil bulls. A slowing of the two-largest economies will likely result in crude demand destruction going forward. Friday’s $60.92 lows is next Support and $60.60 (last night’s low).

Main Macro Events Today

* Average Earnings (GBP, GMT 08:30) – Average Earnings excluding bonus for March is expected to hold at 3.4%. The ILO unemployment rate (3-month) is expected to have remained at 3.9%.

* ZEW Economic Sentiment (EUR, GMT 09:00) – Economic Sentiment for May is expected to decline to 1.0 compared to 4.5 last month.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #729  
Old 15-05-2019, 07:28
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Default Re: Hotforex.com - Market Analysis and News.

Date : 15th May 2019.

MACRO EVENTS & NEWS OF 15th May 2019.




FX News Today

* Stock markets continued to recover during the Asian session, after a positive close on Wall Street Tuesday. Topix and Nikkei gained 0.41% and 0.45% respectively.

* Volumes were thin indicating that there is not much conviction in the recovery as investors evaluate trade developments.

* Chinese data releases from Industrial output to Retail Sales data and investment all slowed last month and together with the fallout from tariff hikes that saw markets buying into hopes of further stimulus measures in China.

* President Trump overnight called on the Fed to “match” what he said China would do to offset the economic impact of the US tariffs

* US stock futures are also moving higher.

* The AUD was pressured by the weak China data.

* The USOIL struggled with source stories saying the API will report a 8.63 million Dollar increase in US stockpiles and is trading at USD 61.38 per barrel.

* German GDP growth expanded 0.4% q/q in Q1, in line with expectations and coming back from stagnation in the last quarter of 2018. The construction and machinery investment as well as private consumption were the main drivers of growth.

Charts of the Day



Technician’s Corner

* EURUSD found Support into the 1.1200 level. 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.

* USDJPY has recovered slightly from earlier lows of 109.45, making its way to 109.67 highs so far. The rally on Wall Street, which has so far wiped out about a third of Monday’s sharp losses has provided some Support, as have steadier Treasury yields which were hammered lower yesterday as well. The uncertainty of the outcome of the US-China trade war however, will likely keep USDJPY upside limited for now.

* GBPUSD is back on a weakening path. A generally firmer dollar has seen Cable lead the way in the latest phase, with the pair printing fresh 2-week lows under 1.2910. This extends the quite-steep decline from the early May peak at 1.3176, which is the loftiest point reached over the last six weeks. As the risk of a disorderly no-deal Brexit remains a possibility, if not a probability and as the pair is a sharp decline for 8th day is a row, bearish outlook looks to hold strongly. Intraday, Cable has Resistance at 1.2928-1.1235 and Support at 1.2860 on the break of 1.2900 level.

Main Macro Events Today

* Gross Domestic Product (EUR, GMT 06:00) – Eurozone prelim. Q1 GDP growth expected to be confirmed at 0.4% q/q.

* Retail Sales and Core (USD, GMT 12:30) – We expect readings of 0.2% for April retail sales and 0.7% for ex-auto sales, following a 1.6% increase for the March headline and a 1.2% increase ex-autos. Unit vehicle sales slowed in April, and gasoline prices should continue to boost retail activity given an estimated 5.5% increase in the CPI for gasoline.


* Consumer Price Index (CAD, GMT 12:30) – The Canadian CPI is expected to slip to 0.3% from the 0.7% reading the past 2 months.

Support and Resistance levels

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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #730  
Old 16-05-2019, 09:01
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Default Re: Hotforex.com - Market Analysis and News.

Date : 16th May 2019.

MACRO EVENTS & NEWS OF 16th May 2019.




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



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



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #731  
Old 17-05-2019, 08:08
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Default Re: Hotforex.com - Market Analysis and News.

Date : 17th May 2019.

MACRO EVENTS & NEWS OF 17th May 2019.




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



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



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #732  
Old 20-05-2019, 08:05
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Default Re: Hotforex.com - Market Analysis and News.

Date : 20th May 2019.

MACRO EVENTS & NEWS OF 20th May 2019.




* Just as optimism on US growth was returning, while worries over a global slowing were easing, the spectre of a trade war is back on the table to heighten uncertainties once again. Trade will remain a focal point along with the European Parliament elections. Thursday is the most data-heavy day with European PMI releases and the the German IFO survey.

Tuesday – 21 May 2019

* Monetary Policy Meeting Minutes (AUD, GMT 01:30) – The RBA minutes will provide more insight on the views the Australian Central Bank has about the economy. In the past policy review earlier this month, RBA highlighted downside risks to the economy, but disappointed markets by leaving the cash rate on hold ahead of the federal elections.

* Inflation Report Hearings (GBP, GMT N/A) – The BOE Governor and several MPC members testify on inflation and the economic outlook before the Parliament Treasury Committee.

* Retail Sales (NZD, GMT 22:45) – Retail Sales are expected to have slipped to 0.0% for the first Quarter of 2019, from around 1.7% q/q.

Wednesday – 22 May 2019

* Consumer Price Index (GBP, GMT 08:30) – Prices are expected to rise in April, with overall inflation expected to stand at 2.1%y/y, compared to 1.9% y/y last month.

* Retail Sales and Core (CAD, GMT 12:30) –Canadian sales are expected to have eased by 0.4% m/m in March, compared to 0.8% m/m in February.

* FOMC Meeting Minutes (USD, GMT 18:00) FOMC minutes, detailing the view of each of the Fed Governors and FOMC Members, shed light on their perspectives regarding the future of the US economy. FOMC left policy on hold earlier this month, and it cited solid growth, low headline and core inflation, though Powell said in his presser that the weakness was likely “transitory”.

Thursday – 23 May 2019

* Gross Domestic Product (EUR, GMT 06:00) – German Preliminary Q1 results are expected to remain unchanged, at an annualised rate of 0.6%, and at 0.4% compared to 1.1% last quarter.

* Services and Manufacturing PMI (EUR, GMT 08:00) – Preliminary Manufacturing and Composite PMIs are expected to increase in May, to 48.2 and 51.8 respectively while the Services PMI is forecast at 53.

* German IFO (EUR, GMT 08:00) – German IFO business confidence is expected to hold steady at 99.2, after it unexpectedly declined to 99.2 in the April reading from 99.7 in March.

* European Parliamentary Elections – DAY 1

Friday – 24 May 2019

* Retail Sales and Core (GBP, GMT 08:30) – Following a correction in March, Retail Sales are expected to slip this month by -0.4% m/m from 1.1% m/m.
Durable Goods (USD, GMT 12:30) – Durable goods orders are pegged at -1.8% in April, after a 2.7% figure in March. Transportation orders should be -7.2%. Boeing orders should fall to the lean 28 area from an already-low 44 in March, with a likely hit via problems with the Boeing 737 Max that may have prompted buyers to delay new purchase commitments, while vehicle assemblies are seen steady from a 10.8 mln pace in March.

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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #733  
Old 21-05-2019, 09:25
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Default Re: Hotforex.com - Market Analysis and News.

Date : 21st May 2019.

MACRO EVENTS & NEWS OF 21st May 2019.




FX News Today

* 10-year Treasury yields are down -0.2 bp at 2.414$, JGB yields fell back 0.2 bp to -0.054% as BoJ Governor Kuroda warned against the fallout from escalating trade tensions between the U.S. and China and the minutes of the last RBA meeting confirmed that Australia’s central bank is laying the ground for a rate cut in coming months.

* Stock markets moved mostly higher, with mainland China bourses outperforming and bouncing back from Monday’s lows, although the impact of the measures that cut Huawei off from vital supplies will likely to continue to impact the tech sector not just in China.

* USD got a bid -AUD (&NZD sink) on RBA comments that rate cut likely if Employment situations does not improve. (0.6875 & 0.6510) respectively. Powells speech was non-market moving.

* EUR back to 1.1150 (s) from 1.1175, JPY -110.15 – r at 110.25 (Questions over Abe’s Sales Tax) , GBP 1.2721 – (12 days down for Cable).

* GOLD Pivots around 1275 support ; OIL – back up to 63.50 from yesterday 62.50 low. R at $64.

Charts of the Day



Technician’s Corner

* AUDUSD fell back under 0.6900 – 20 period moving average sits at 0.6907, S2 is next support at 0.6866. R1 and the 200-period moving average is at 0.6930-33.

* GBPUSD’s low is 1.2707 in what is now the eighth consecutive daily decline and the eleventh down day out of the last twelve trading days. Pivot point comes in at 1.2730, with support at 1.2700.

Main Macro Events Today

* Inflation Report Hearings (GBP, GMT N/A) – The BOE Governor and several MPC members testify on inflation and the economic outlook before the Parliament Treasury Committee.

* US Existing Home Sales – Expected – 5.38 million, last time 5.35 million.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Stuart Cowell

Head Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #734  
Old 22-05-2019, 08:52
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Default Re: Hotforex.com - Market Analysis and News.

Date : 22nd May 2019.

MACRO EVENTS & NEWS OF 22nd May 2019.




FX News Today

* Comments from Fed’s Bullard that a rate cut could become an “attractive option” if inflation continues to disappoint added support to bond markets ahead of the release of the Fed minutes from the May meeting.

* Ahead of today’s Fed minutes, this helped to lift sentiment and underpin stock market sentiment, which struggled for direction amid conflicting trade headlines.

* Reports that the US administration is considering blacklisting up to 5 Chinese surveillance firms, including Hikvision added fresh concerns about a deepening of trade frictions and put pressure on tech stocks.

* The GER30 futures are heading south in tandem with US futures after a mixed session in Asia, where mainland China bourses underperformed.

* The FTSE 100 future is getting some support from a weaker pound, which is shedding the gains seen in the wake of May’s latest Brexit deal yesterday

* At the same time, China’s ambassador to the US said Beijing is ready to resume talks and ASX and Nifty 50 slightly higher.

* The WTI future meanwhile fell back to USD 62.58 per barrel.

Charts of the Day



Technician’s Corner

* EURUSD spiked up briefly to 1.1188, just above its 20-day MA, though has now eased back under 1.1150. The Euro remains in sell the rally mode, given the Dollar’s yields advantage, and relatively better performing economy. EURUSD has posted 6-straight sessions of lower daily lows, a bearish signal, and has sights set on the May 3 bottom of 1.1135, then 2019 lows of 1.1110 seen in late April.

* XAUUSD: Renewed dollar strength, along with the return of risk-taking conditions has dented gold’s safe-haven appeal. The US easing of restrictions on Huawei has helped equity sentiment, to the detriment of gold prices. Next support comes at $1,270 in the near term, then $1,267.30, , the May 2 low, then $1,258.38, the 200-day MA.

Main Macro Events Today

* Consumer Price Index (GBP, GMT 08:30) – Prices are expected to rise in April, with overall inflation expected to stand at 2.1%y/y, compared to 1.9% y/y last month.

* Retail Sales and Core (CAD, GMT 12:30) –Canadian sales are expected to have eased by 0.4% m/m in March, compared to 0.8% m/m in February.

* FOMC Meeting Minutes (USD, GMT 18:00) FOMC minutes, detailing the view of each of the Fed Governors and FOMC Members, shed light on their perspectives regarding the future of the US economy. FOMC left policy on hold earlier this month, and it cited solid growth, low headline and core inflation, though Powell said in his presser that the weakness was likely “transitory”.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi

Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #735  
Old 23-05-2019, 07:08
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Default Re: Hotforex.com - Market Analysis and News.

Date : 23rd May 2019.

MACRO EVENTS & NEWS OF 23rd May 2019.




FX News Today

* Comments from Fed’s Bullard that a rate cut could become an “attractive option” if inflation continues to disappoint added support to bond markets ahead of the release of the Fed minutes from the May meeting.

* Ahead of today’s Fed minutes, this helped to lift sentiment and underpin stock market sentiment, which struggled for direction amid conflicting trade headlines.

* Reports that the US administration is considering blacklisting up to 5 Chinese surveillance firms, including Hikvision added fresh concerns about a deepening of trade frictions and put pressure on tech stocks.

* The GER30 futures are heading south in tandem with US futures after a mixed session in Asia, where mainland China bourses underperformed.

* The FTSE 100 future is getting some support from a weaker pound, which is shedding the gains seen in the wake of May’s latest Brexit deal yesterday

* At the same time, China’s ambassador to the US said Beijing is ready to resume talks and ASX and Nifty 50 slightly higher.

* The WTI future meanwhile fell back to USD 62.58 per barrel.


Charts of the Day



Technician’s Corner

* EURUSD spiked up briefly to 1.1188, just above its 20-day MA, though has now eased back under 1.1150. The Euro remains in sell the rally mode, given the Dollar’s yields advantage, and relatively better performing economy. EURUSD has posted 6-straight sessions of lower daily lows, a bearish signal, and has sights set on the May 3 bottom of 1.1135, then 2019 lows of 1.1110 seen in late April.

* XAUUSD: Renewed dollar strength, along with the return of risk-taking conditions has dented gold’s safe-haven appeal. The US easing of restrictions on Huawei has helped equity sentiment, to the detriment of gold prices. Next support comes at $1,270 in the near term, then $1,267.30, , the May 2 low, then $1,258.38, the 200-day MA.

Main Macro Events Today

* Consumer Price Index (GBP, GMT 08:30) – Prices are expected to rise in April, with overall inflation expected to stand at 2.1%y/y, compared to 1.9% y/y last month.

* Retail Sales and Core (CAD, GMT 12:30) –Canadian sales are expected to have eased by 0.4% m/m in March, compared to 0.8% m/m in February.

* FOMC Meeting Minutes (USD, GMT 18:00) FOMC minutes, detailing the view of each of the Fed Governors and FOMC Members, shed light on their perspectives regarding the future of the US economy. FOMC left policy on hold earlier this month, and it cited solid growth, low headline and core inflation, though Powell said in his presser that the weakness was likely “transitory”.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi

Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #736  
Old 24-05-2019, 07:23
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Default Re: Hotforex.com - Market Analysis and News.

Date : 24th May 2019.

MACRO EVENTS & NEWS OF 24th May 2019.




FX News Today

* Stock market sentiment stabilised during the Asian session and bargain hunting helped at least Chinese markets to recover slightly.

* Australian Dollar continuing to outperform as markets position for a rate cut from the RBA.

* US President Trump seemed to keep hopes of a trade deal alive, but it is pretty clear that any agreement is still a way off and that will likely keep market volatile for now.

* In Europe investors will be bracing for more political turmoil in the U.K., which also raises the threat of a no-deal Brexit scenario once again, and the fallout from the ongoing European Parliament elections.

* The marked widening of spreads clearly has attracted the attention of ECB officials, which are one again eagerly campaigning for more risk sharing, Eurobonds and a eurozone wide deposit insurance.

* The Oil prices have come slightly back from lows, although at currently $58.65 per barrel, the front end WTI future is heading for a sizeable weekly loss.

Charts of the Day



Technician’s Corner

* EURUSD spiked up from 2-year lows of 1.1200 into European open. The Euro’s new trend low, along with data misses prompted a quick and sharp short covering driven rally yesterday, which has since seen EURUSD touch highs of 1.1187. With a good number of shorts squeezed out of the market, the pair could enter a consolidative phase into the weekend.

* XAUUSD traded to 1-week highs over $1,287 yesterday, while today despite the small selling pressure it manage to hold above the $1,282 area. Safe-haven buying remains the mover, as global equities remained awash in a sea of red, largely driven by escalating trade war fears. From there, a sharp reversal lower for the Dollar added support to Gold prices. Solid resistance comes at the psychological $1,300 level.

Main Macro Events Today

* Retail Sales and Core (GBP, GMT 08:30) – Following a correction in March, Retail Sales are expected to slip this month by -0.4% m/m from 1.1% m/m.

* Durable Goods (USD, GMT 12:30) – Durable goods orders are pegged at -1.8% in April, after a 2.7% figure in March. Transportation orders should be -7.2%. Boeing orders should fall to the lean 28 area from an already-low 44 in March, with a likely hit via problems with the Boeing 737 Max that may have prompted buyers to delay new purchase commitments, while vehicle assemblies are seen steady from a 10.8 mln pace in March.

Support and Resistance levels


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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi

Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #737  
Old 27-05-2019, 09:25
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Default Re: Hotforex.com - Market Analysis and News.

Date : 27th May 2019.

MACRO EVENTS & NEWS OF 27th May 2019.




* The political saga is expected to continue next week after the resignation announcement of Prime Minister May, who will step down on June 7th, after President Trump’s three-day state visit..

Tuesday – 28 May 2019

* Inflation Report Hearings (GBP, GMT N/A) – The BOE Governor and several MPC members testify on inflation and the economic outlook before the Parliament Treasury Committee. It is likely that BoE will state again that it will remain on hold now until after the Brexit D-Day.

* CB Consumer Confidence (USD, GMT 14:00) – The Consumer Confidence is expected to rise to 130.0 in May, from 129.2 in April and a 16-month low of 121.7 as recently as January, versus an 18-year high of 137.9 in October. Overall, confidence measures remain historically high.

* RBNZ Financial Stability Report (NZD, GMT 20:00) – After RBNZ did the expected in March, leaving the official cash rate 1.75% following its policy review and surprised by stating “the more likely direction of our next OCR move is down.”, it is now expected to remain on the dovish side along with the rest of the central banks.

Wednesday – 29 May 2019

* Unemployment (EUR, GMT 07:55) – The German unemployment rate is expected to remain unchanged at 4.9% in May, however the number of vacancies is expected to drop to -7k.

* Event of the week – BoC Interest Rate Decision (CAD, GMT 14:00) – At the BoC meeting, consensus expectations are that there should be no interest rate change. However, the abandonment of the mild tightening bias in the last meeting, opened the door to both rate hikes and rate cuts, depending on the flow of data.

Thursday – 30 May 2019

* Building Permits (AUD, GMT 01:30) – The reduction in building permits is expected to continue, while with the indicator registering an 15.5% decline in March, expectations are that the decline will stand at 14% in April.

* Gross Domestic Product (USD, GMT 12:30) – The Preliminary GDP is expected to show a revised 2.9% gain in Q1, versus the 3.2% advance figure released last month, following a 2.2% growth rate in Q4.

* Tokyo CPI and Production Data (JPY, GMT 23:50) – The country’s main leading indicator of inflation is expected to have dropped slightly at 1.2% y/y in May. Industrial Production is expected to have improved, growing by 0.2% m/m in April, compared to -0.6% m/m in March, while Retail Sales are expected to have fallen by 0.8% y/y, compared to 1.0% in March.

Friday – 31 May 2019

* Harmonized Index of Consumer Prices (EUR, GMT 12:00) – The preliminary German HICP inflation for April jumped to 2.1% y/y from 1.4% y/y. However the reading for May is expected to fall back to 1.5% y/y.

* Gross Domestic Product (CAD, GMT 12:30) – The Q1 GDP is expected to increase to 1.2%, after it slowed to a 0.4% growth rate in Q4 from 2.0% in Q3 (q/q, saar).

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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #738  
Old 28-05-2019, 07:29
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Default Re: Hotforex.com - Market Analysis and News.

Date : 28th May 2019.

MACRO EVENTS & NEWS OF 28th May 2019.




FX News Today

* Asian equities moved up in line with higher closes on the European markets and buoyed by the muted merger of US_Italian Fiat Chrysler and French peer Renault.

* New Zealand and Australian Dollar continues to recover, the was AUD bolstered by a rise in Iron Ore prices.

* US President Trump seemed to keep hopes of a trade deal alive, but it is pretty clear that any agreement is still a way off and that will likely keep market volatile for now.

* USD a touch firmer – EUR dips to support at 1.1180, JPY continues to pivot around 109.50 and GBP gave up 1.2700 handle and sits at 161.8 Fib level 1.2670

* Gold declined in the H1 200 ema at $1282.35, breaching the key $1285 psychological area.

* The Oil prices have breached $59.00 per barrel rising 1% on Monday on tensions in the Middle East, and OPEC-led supply cuts, capped by Russian supply coming back on stream after a contamination problem discovered last month.

Charts of the Day



Technician’s Corner

* EURUSD – H1 EMA crossing strategy triggered at 10:00 at 1.1204 (May 27) and has moved down to 200 EMA and S1 at 1.1181. S2 sits at 1.1170 and the daily pivot sits at 1.1198

* XAUUSD – H1 EMA crossing strategy triggered at 18:00 at 1285.12 and has run down through S1 (1283.40) to touch 200 EMA at 1282.35. S2 and lower Bollinger band $1281.75. Daily pivot at 1285.35

Main Macro Events Today

* CB Consumer Confidence (USD, GMT 14:00) – The Consumer Confidence is expected to rise to 130.0 in May, from 129.2 in April and a 16-month low of 121.7 as recently as January, versus an 18-year high of 137.9 in October. Overall, confidence measures remain historically high.

* RBNZ Financial Stability Report (NZD, GMT 20:00) – After RBNZ did the expected in March, leaving the official cash rate 1.75% following its policy review and surprised by stating “the more likely direction of our next OCR move is down.”, it is now expected to remain on the dovish side along with the rest of the central banks.



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.


Stuart Cowell

Head Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #739  
Old 29-05-2019, 07:16
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Default Re: Hotforex.com - Market Analysis and News.

Date : 29th May 2019.

MACRO EVENTS & NEWS OF 29th May 2019.




FX News Today

* RISK-OFF again, trade tensions, Huawei court case and weak sentiment. JPY & CHF were the main movers in the Asian session with USDJPY once again testing 109.20 and USDCHF down to 1.0060. US equities markets fell into the close (S&P down 0.84%), while Asian equities have followed lower (Nikkei down over 1%). Bonds rallied as sentiment continues to be fragile.

* USD firmer elsewhere; EURUSD dipped to 1.1160, GBPUSD breached 1.2650, and USDCAD attempted 1.3500 again, before slipping back to 1.3480. The Kiwi is firmer following the RBNZ FSR and Governor Orr’s speech, where he avoided monetary policy comments completely. The NZDUSD currently trades off overnight highs of 0.6552 at 0.6544. The AUDUSD supported by pivot point at 0.6972

* Oil prices gave up highs at $59.33 yesterday following comments by Russia that they will consider an extension of the production cap deal with OPEC – USOil currently holds $58.50. Gold, from lows at $1276 yesterday, has recovered to a key resistance at $1281.80.

Charts of the Day



Technician’s Corner

* EURUSD – H1 – another leg lower from 15:00 GMT yesterday R1 at 1.1185 and the 200 ema at 1.1180 are key resistance areas. Daily Pivot sits at 1.1172. RSI (35) and Stochastic (31) are weak an falling. S1 and the lower Bollinger band are at 1.1145

* GBPUSD – H1 – Under key daily pivot and 161.8 Fibonacci extension at 1.2676. 1.2650 is a key psychological level. S1 at 1.2648, the lower Bollinger band at 1.2642 and S2 1.2627 provide further support.

Main Macro Events Today

* Unemployment (EUR, GMT 07:55) – The German unemployment rate is expected to remain unchanged at 4.9% in May, however the number of vacancies is expected to drop to -7k.

* Event of the week – BoC Interest Rate Decision (CAD, GMT 14:00) – At the BoC meeting, consensus expectations are that there should be no interest rate change. However, the abandonment of the mild tightening bias in the last meeting, opened the door to both rate hikes and rate cuts, depending on the flow of data.


Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Stuart Cowell

Head Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #740  
Old 30-05-2019, 07:25
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Default Re: Hotforex.com - Market Analysis and News.

Date : 30th May 2019.

MACRO EVENTS & NEWS OF 30th May 2019.




FX News Today

* US equities weaker, Treasury yields fell amid flight to safety trades.The concerns that the global economy will slide back into recession amid prolonged trade tensions continue.

* Chinese media yesterday suggested that Beijing could be limiting the export of rare earths minerals used in the defence an energy sector in order to put pressure on the US only highlighted that the trade war is likely to escalate further before a deal is reached.

* Against that background US GDP numbers and tomorrow’s inflation data will remain in focus with Bloomberg highlighting that the “Fed model” suggests that there is still value in US stocks, but only if the Fed cuts rates.

* Oil prices also moved up from recent lows and the WTI future is trading at USD 59.23 per barrel.

* In Euorpe, Stock futures are also pointing to a stabilisation and a slight easing of risk aversion, with European futures moving higher in tandem with US futures. P

* olitical developments also remain in focus in Europe amid a pretty quiet data calendar, although after the French number yesterday and ahead of German HICP tomorrow, Spanish inflation data may attract some attention.

Charts of the Day



Technician’s Corner

* EURUSD – H1 – printed one-week lows of 1.1125, and down for the third straight day. Safe-haven flight into the Dollar has been a driver this week, Worse than expected German unemployment data, along with dovish ECB commentary on rate guidance also weighed on the Euro. Support now comes at last week’s two-year low of 1.1107.

* XAUUSD – H1 – drifted to $1,276.25 slightly below the 200-day EMA, while it remains for a third day in the lower Bollinger Bands pattern. The asset is in a descending triangle since year’s peak. Support could be found in the near term at May 22 low, at $1,272.45, a break of this level could retest year’s strong Support at $1,266.25

Main Macro Events Today

* Gross Domestic Product (USD, GMT 12:30) – The Preliminary GDP is expected to show a revised 2.9% gain in Q1, versus the 3.2% advance figure released last month, following a 2.2% growth rate in Q4.

* Tokyo CPI and Production Data (JPY, GMT 23:50) – The country’s main leading indicator of inflation is expected to have dropped slightly at 1.2% y/y in May. Industrial Production is expected to have improved, growing by 0.2% m/m in April, compared to -0.6% m/m in March, while Retail Sales are expected to have fallen by 0.8% y/y, compared to 1.0% in March.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi

Market Analyst

HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #741  
Old 31-05-2019, 08:14
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Default Re: Hotforex.com - Market Analysis and News.

Date : 31st May 2019.

MACRO EVENTS & NEWS OF 31st May 2019.




FX News Today

* Risk aversion eventually won the day on Thursday, as stocks gave back modest early gains and yields drifted lower from opening highs.

* Bonds rallied as stocks were pressured by President Trump’s announcement that Mexico will be hit by 5% tariffs that will gradually rise to 25% in a bid to curb immigration.

* The latest escalation in the global trade war, coming after China’s manufacturing PMI fell more than expected and is now in contraction territory, added to fears that the world economy is heading for recession and sparked a new rally on global bond markets that left the 10-year Treasury rate down -4.5 bp at 2.168%.

* The WTI future fell back to $55.97 per barrel following the EIA inventory data which showed a 300k bbl fall in crude stocks. The Street had been expecting a 1.0 mln bbl decrease, though the API reported a 5.3 mln bbl draw after the close on Wednesday.

* European stock futures are selling off in tandem with US futures after a largely weaker session in Asia overnight.

* Today’s data calendar will likely underpin the rally in bond markets, with preliminary German and Italian inflation data set to confirm that Eurozone HICP fell back sharply in May, thus adding to the arguments of the doves at the ECB ahead of next week’s council meeting.

Charts of the Day



Technician’s Corner

* USDCAD – H1 – found support under 1.3490 early in the session, later bouncing to 1.3547 highs (Wednesday’s post-BoC high) as Oil prices fell to fresh 2-plus month lows. WTI crude bottomed at $56.78, down from opening highs near $59.20. Year’s high at 1.3660-1.3664 is now the next Resistance level, with Support now at 1.3481, which was yesterday’s low.

* USDJPY – H1 – ran out of steam over 109.90. The pairing has since fallen back under 109.00, taking its cue from Wall Street, which has about squandered all of its earlier gains. The usual talk of Japan exporter offers from the 110.00 mark has been heard, which could have prompted some position squaring ahead of the level. In the bigger picture, trade wars and general risk-off conditions will likely limit further gains going forward. Next Support area between 108.00-108.50.

Main Macro Events Today

* Harmonized Index of Consumer Prices (EUR, GMT 12:00) – The preliminary German HICP inflation for April jumped to 2.1% y/y from 1.4% y/y. However the reading for May is expected to fall back to 1.5% y/y.

* Personal Consumption Expenditures (USD, GMT 12:30) – The April income/consumption report is expected at 0.3% in income. It is also projected to show a 0.3% increase in the PCE chain price index versus a prior 0.2% gain, as well as a 0.2% rise in the core versus unchanged previously. Such gains won’t cause a ripple at the Fed as annual rates remain well below the Fed’s 2% target.

* Gross Domestic Product (CAD, GMT 12:30) – The Q1 GDP is expected to increase to 1.2%, after it slowed to a 0.4% growth rate in Q4 from 2.0% in Q3 (q/q, saar).

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #742  
Old 03-06-2019, 07:23
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Default Re: Hotforex.com - Market Analysis and News.

Date : 3rd June 2019.

MACRO EVENTS & NEWS OF 3rd June 2019.




* Trade and geopolitics will continue to dominate the headlines into June along with PM May’s official resignation on Friday. Top of the agenda next week will be the RBA and ECB policy meetings, but a lot of attention will also be on the contemporaneous data on the May US Jobs report, the global PMI outcomes and the European Q1 GDP.

Monday – 03 June 2019

* Caixin Manufacturing PMI (CNY, GMT 01:45) – The Caixin manufacturing PMI is expected to slip into the neutral zone in May, after the weak Manufacturing PMI signalled contraction yesterday.

* ISM Manufacturing PMI (USD, GMT 14:00) – The ISM index is expected to rise to 53.5 in May from 52.8 in April, compared to a 14-year high of 61.4 in August. Overall, we’ve seen a stabilization in sentiment since the late-2018 pullback.

Tuesday – 04 June 2019

* Retail Sales (AUD, GMT 01:30) – Retail sales are expected to come out lower, standing at 0.2% m/m in April, after drifting to 0.3% increase in March from the 0.9% high in February.

* Interest Rate Decision (AUD, GMT 04:30) –A 25 bp reduction to 1.25% is anticipated from the current 1.50% rate setting as the RBA adds accommodation amid a slowing economy and low inflation. The minutes from the early May policy review were dovish-leaning, adding to the expectation that rates will be reduced in June.

* Consumer Price Index (EUR, GMT 09:00) – The preliminary Euro Area CPI for May is expected to drop back to 1.4% y/y from 1.7%y/y last month. The core inflation is seen at 1.0% y/y from 1.3% y/y.

* Fed’s Chair Powell speech (USD, GMT N/A)

Wednesday – 05 June 2019

* Gross Domestic Product (AUD, GMT 01:30) – The Gross Domestic Product figure is probably the most important economic data announcement for a country, closely followed by the unemployment rate. The final Q1 Australian GDP is expected to grow to 0.3% from 0.2%.

* ISM Non-Manufacturing PMI (USD, GMT 14:00) – The ISM-NMI index is expected to edge up to 55.7 in April from a 19-month low of 56.1 in March, versus a 13-year high of 60.8 in September.

Thursday – 06 June 2019

* Event of the week – ECB Interest Rate Decision (EUR, GMT 11:45) – The ECB is widely expected to keep policy rates on hold at the June council meeting, but the presser is likely to be very dovish, with the guidance on rates likely to be pushed well into 2020. The details on the new TLTRO programme are also due to be released and are likely to be generous, but rate tiering doesn’t seem to be on the agenda for now, as the assessment of the possible side effects on negative interest rates continues.

Friday – 07 June 2019

* Event of the Week – Non-Farm Payrolls (USD, GMT 12:30) – Along with Thursday’s employment data, payrolls are important in gauging how many people are employed in non-agricultural businesses. Jobs are expected to have increased in May, at 190k following a 263k increase in April. The unemployment rate should remain steady at 3.6% from April, while average hourly earnings should rise 0.3% m/m, for a y/y gain of 3.2%.

* Employment and Unemployment (CAD, GMT 12:30) – After the 106.5k surge in April employment, which notched a new all-time record 1-month gain, the Canadian unemployment rate is expected to have increased further in May.

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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #743  
Old 04-06-2019, 08:28
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Default Re: Hotforex.com - Market Analysis and News.

Date : 4th June 2019.

MACRO EVENTS & NEWS OF 4th June 2019.




FX News Today

* Risk aversion continues to prevail as US Treasuries, JPY , CHF and Gold remain in Bid mode

* Treasury yields did come off highs and the 10-year yield backed up 2.9 bps to 2.100%, after risk aversion and comments from Fed’s Bullard, who said a rate cut may be “warranted soon”, underpinned rate cut speculation and fresh gains in Treasuries yesterday.

* The RBA cut rates to record lows, as expected. The latter helped the ASX to outperform in Asia and move up 0.25%, but elsewhere stock markets were remained under pressure during the Asian, after the NASDAQ closed with a loss of -1.6% yesterday amid selling in the likes of Facebook and Amazon, with speculation of antitrust probes after the US Justice Department and the Federal Trade Commission agreed to split up oversight of tech giants.

Charts of the Day



Technician’s Corner

* USDAUD – H1 – Ran out of steam at 0.6990, but remains over daily pivot at 0.6960 and trades at 0.6982 as USD continues to soften into European session. R1 and the psychological 0.7000 next key resistance. R2 at 0.7015 would need a significant deterioration in USD today.

* USDJPY – H1 – Keeps the bid as 108.00 handle is breached once more. S1 sits at 107.80, S2 at 107.56 and S3 at 107.24. Pivot Point and 20 period moving average at 108.10, R1 at 108.37 and R2 108.68. RSI remains north of OS at 34.7, Stochastics in OS zone all of Asian session and remain there. Lower Bollinger band 107.65.

Main Macro Events Today

* Consumer Price Index (EUR, GMT 09:00) – The preliminary Euro Area CPI for May is expected to drop back to 1.4% y/y from 1.7%y/y last month. The core inflation is seen at 1.0% y/y from 1.3% y/y.

* RBA Chair Lowe speech (AUD, GMT 09:30) – Due to speak at the RBA Dinner following today’s meeting – Q&A expected.

* Fed’s Chair Powell speech (USD, GMT 13:55) – Due to speak in Chicago about Federal Reserve’s policy strategy, tools, and communication practices.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Stuart Cowell
Head Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #744  
Old 06-06-2019, 08:49
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Default Re: Hotforex.com - Market Analysis and News.

Date : 6th June 2019.

MACRO EVENTS & NEWS OF 6th June 2019.




FX News Today

* Stock markets struggled during the Asian session, with mainland China bourses underperforming.

* Discussions between the US and Mexico ended without a breakthrough last night, which capped risk appetite, and stock markets struggled for direction during the Asian session.

* GER30 futures as well as US futures are also slightly in the red, despite better than expected German manufacturing data at the start of the session.

* German orders data better than expected, with manufacturing orders rising 0.3% m/m in April, while March data was revised up to 0.8% m/m from the 0.6% m/m reported initially. Still, a better than expected number, although the German manufacturing PMI is still firmly stuck in contraction territory and a real rebound doesn’t seem to be in sight.

* The WTI future remains pressured by EIA inventory data yesterday, but has come up to now $51.71 per barrel, after falling to a low of $57.20 in the wake of the report yesterday.

* Geopolitical trade tensions continue to provide a risk backdrop that is keeping bond markets underpinned amid growing conviction of additional central bank support.

Charts of the Day



Technician’s Corner

* NZDUSD & NZDJPY – were the biggest movers and shakers yesterday in the forex markets, with the pairing and cross showing respective 0.6% and 0.7% gains at prevailing levels, with both modestly off highs. The outperformance of the Kiwi dollar, with buying having been catalyzed by RBNZ assistant governor, Hawkesby, vaulted the pair to a 4-week high at 0.7007. Overnight the pair turned lower to 0.6610, However however this could be a correction of the overbought asset. The overall outlook remains bullish as the asset extends Bollingers to the upside.


* USDJPY – H1 – fell to 108.04 overnight, while the pair has since rebounded to 108.15 ahead of then London open. Given the slide in Treasury yields however, further upside for the pairing is likely to be limited. The next support level comes at the January 10 low of 107.77.

Main Macro Events Today

* Gross Domestic Product (EUR, GMT 09:00) – The final Q1 results in the Eurozone are expected to remain unchanged, at an annualised rate of 1.2%, and at 0.4% in quarterly basis.

* Event of the week – ECB Interest Rate Decision (EUR, GMT 11:45) – The ECB is widely expected to keep policy rates on hold at the June council meeting, but the presser is likely to be very dovish, with the guidance on rates likely to be pushed well into 2020.

* Trade Balance (USD, GMT 12:30) – The trade deficit is expected to widen slightly in April to -$50.6 bln from -$50.0 bln in March.

* Initial Jobless Claims (USD, GMT 12:30) Initial jobless claims for the week of May 31 are estimated to fall to 213k, after a 3k rise to 215k in the week of May 25.about Federal Reserve’s policy strategy, tools, and communication practices.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #745  
Old 07-06-2019, 08:38
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Default Re: Hotforex.com - Market Analysis and News.

Date : 7th June 2019.

MACRO EVENTS & NEWS OF 7th June 2019.




FX News Today

* Stock markets traded mixed in Asia, with Chinese markets underperforming, ahead of key US jobs data today.

* Hopes that Mexico tariffs may be postponed helped Wall Street to close higher, but Vice President Pence said the US still plans to impose tariffs on Mexico next week ahead of further talks today.

* China’s central bank head sounded relaxed on the Yuan, but stressed that the PBOC still had lots of policy room if the trade war worsens.

* CSI and Shanghai Comp still lost -0.9% and -1.2% respectively and the tech heavy Shenzen Comp fell back more than 2% as Facebook announced that it will no longer preinstall its app on Huawei phones, spelling more trouble for the beleaguered tech company.

* US Stock futures around 0.1% higher and the WTI future continued to climb up from the lows seen in the wake of EIA data Wednesday and is now trading at $53.28 per barrel.

* Ahead of EU open, German trade surplus narrowed as exports slumped, while German industrial production corrected -1.9% m/m in April.

* European stock futures are moving higher, led by a 0.6% rise in the DAX futures, which also ignored the weak April numbers

Charts of the Day



Technician’s Corner

* EURUSD – has been consolidating in a narrow range in the mid 1.1200s, consolidating the steep losses from 1.1306 that were seen during the London PM/NY morning session yesterday. It is expected that the Dollar would likely hold up better than the Euro in the scenario that further sustained bouts of risk aversion is seen in global markets in the months ahead, with US Treasuries offering the highest risk-free return around, regardless of prevailing market discounting of Fed rate cuts. The pair remains in a bear trend which has been evolving since early 2018. This was reaffirmed by the new two-year low that was printed last month at 1.1107. Resistance comes in at 1.1300-06 and 1.1323-25.

Main Macro Events Today

* Event of the Week – Non-Farm Payrolls (USD, GMT 12:30) – Along with Thursday’s employment data, payrolls are important in gauging how many people are employed in non-agricultural businesses. Jobs are expected to have increased in May, at 190k following a 263k increase in April. The unemployment rate should remain steady at 3.6% from April, while average hourly earnings should rise 0.3% m/m, for a y/y gain of 3.2%.

* Employment and Unemployment (CAD, GMT 12:30) – After the 106.5k surge in April employment, which notched a new all-time record 1-month gain, the Canadian unemployment rate is expected to have increased further in May.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #746  
Old 10-06-2019, 07:00
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Default Re: Hotforex.com - Market Analysis and News.

Date : 10th June 2019.

MACRO EVENTS & NEWS OF 10th June 2019.




* Moving into a new week, the focus is now squarely on the UK mess and the Conservative Party’s leadership contest. Market attention is also honed in on the G20 meeting but also on the US economic data which will be scrutinized for any sign that trade uncertainties are impacting amid a slowing in economic growth.

Monday – 10 June 2019

* Gross Domestic Product (JPY, Sunday GMT 23:50) – Growth in Japan is expected to have increased by 0.4% in the first quarter, slightly lower than last time, reflecting weaker than expected household spending. The annualised outcome is seen at 1.8% after the stronger than expected 2.1% growth.

* Trade Balance (CNY, GMT 02:00) – May’s exports are anticipated to contract to 3.8% y/y, from the 2.7% y/y. The trade balance should grow to $20.5bln in May from $13.83B in March. This report will be consistent with ongoing slowing in China’s domestic economy (falling imports) and the impact of the trade war with the US (drop in exports).

* Industrial and Manufacturing Production (GBP, GMT 08:30) – The two indices are expected to have fallen back to 0.1% m/m and 0.2% m/m in April, confirming that the sector is back in contraction.

Tuesday – 11 June 2019

* Average Earnings Index 3m/y (GBP, GMT 08:30) – UK Earnings with the bonus-included figure are expected to rise to 3.4% y/y in the three months to April, up from 3.2%y/y in March.

* ILO Unemployment Rate(GBP, GMT 08:30) – UK unemployment is expected slightly higher at 3.9%, after it unexpectedly fell to 3.8% in March, which was the lowest rate seen since December 1974.

Wednesday – 12 June 2019

* Consumer Price Index (CNY, GMT 01:30) – May’s Chinese CPI is expected to grow to 2.7% y/y following the rise of 2.5% y/y in April.

* Consumer Price Index and Core (USD, GMT 12:30) – May’s CPI has been estimated at a 0.1% gain in headline CPI with a 0.2% increase in core prices, following respective April readings of 0.3% and 0.1%. As-expected gains would result in a headline y/y gain of 1.9%, down from 2.0% in April, while core prices should rise 2.1%, a steady pace from April. Overall, the inflation outlook remains benign, though with an updraft into the end of Q1 and early Q2 from a petroleum price rebound that lost steam into May.

Thursday – 13 June 2019

* Employment Data (AUD, GMT 01:30) – While the Unemployment Rate is projected to have flipped at 5.1% in May, Employment change is expected to have eased, increasing by 14K compared to 28.4K last month.

* Harmonized Index of Consumer Prices (EUR, GMT 06:00) – The German HICP inflation fell back in April to 1.3% y/y from 2.1% y/y. In May however, it is expected to rise to 2.1% y/y again.

* SNB Interest Rate Decision and Press Conference (CHF, GMT 07:30) – The SNB is not expected to surprise markets as the Swiss rate is forecast to remain at -0.75%. However, the recent strengthening of the Swiss franc will have rekindled SNB concerns of its disinflationary impact.

Friday – 14 June 2019

* Retail Sales and Industrial Production (USD, GMT 12:30) – Retail Sales are expected to have grown by 0.6% for May and 0.3% for ex-auto sales, following a -0.2% figure for the April headline and a 0.1% increase in ex-autos. Industrial production is projected at 0.6% in May, after a -0.5% reading in April.

* Michigan Consumer Sentiment Index (USD, GMT 14:00) – The preliminary result of the Sentiment Index is expected to show a return to April’s number below 100, and more specifically to 98.

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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #747  
Old 11-06-2019, 07:30
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Default Re: Hotforex.com - Market Analysis and News.

Date : 11th June 2019.

MACRO EVENTS & NEWS OF 11th June 2019.




FX News Today

* Stock markets continued to move higher during the Asian session, once again led by China after the US-Mexico deal also revived hopes of a US-Sino deal, despite Trump’s comments.

* President Trump: China deal is going to work out; but no deal means more tariffs.He said that he is ready to impose another round of tariffs on Chinese imports if there is no progress in talks with China’s President at the June 28-29 G20 summit.

* The expectations that China will ramp up stimulus programs to boost the flagging economy were boosted by news that China will allow local government to use proceeds from special bonds as capital for major investment projects.

* European stock futures are also moving higher as are US futures.

* US futures are up 0.3-0.4% and the WTI future is trading at $53.74 per barrel.

* The yen crosses lifted higher as the Japanese currency lost ground as the relief rally on easing trade tensions in equity markets continued.

Charts of the Day



Technician’s Corner

* USDJPY lifted by over 30 pips in the hours after the Tokyo fixing today. USDJPY printed an intraday high at 108.64, but has so far remained shy of yesterday’s 11-day peak at 108.71. This week it has breached above its prior-week peak for only the second time out of the last 7 weeks. The pair could continue to hold a better footing for now, especially with the planned meeting between top-level US and Chinese officials at the upcoming G20 serving to arrest what had started seem an irrevocable downward spiral in relations between Washington and Beijing. It has support 108.32-35, and resistance at 108.91-94.

* EURUSD moved back above the 1.1300 mark, though well under Friday’s near 3-month high of 1.1347. The pricing in of US rate cuts will limit EURUSD’s downside potential going forward, though the ECB’s dovish policy stance will limit the Euro’s advances. As a result, range trade mentality may be in the cards for the time being. Support comes at Friday’s 1.1252 bottom, with resistance at Friday’s high, then the 200-day moving average at 1.1367.

* Gold Futures retreated from Friday’s near 4-month high of $1,347.70, falling to $1,325. The moderate sell-off was driven by the return of risk-on conditions. The news that the US would not impose tariffs on Mexican goods helped the Dollar recover and saw yields and equity markets move higher, all gold-negatives.

Main Macro Events Today

* Average Earnings Index 3m/y (GBP, GMT 08:30) – UK Earnings with the bonus-included figure are expected to rise to 3.4% y/y in the three months to April, up from 3.2%y/y in March.

* ILO Unemployment Rate(GBP, GMT 08:30) – UK unemployment is expected slightly higher at 3.9%, after it unexpectedly fell to 3.8% in March, which was the lowest rate seen since December 1974.

* Producer Price Index ex Food & energy (USD, GMT 12:30) – A flat rate is anticipated for headline PPI in May, and a 0.2% rise in the core index.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #748  
Old 12-06-2019, 07:22
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Default Re: Hotforex.com - Market Analysis and News.

Date : 12th June 2019.

MACRO EVENTS & NEWS OF 12th June 2019.




FX News Today

* Market sentiment turned cautious again ahead of the G-20 summit.

* Bund yields declined from the off, as Treasuries rallied following President Trump’s criticism.

* President Trump said it is he who is holding up the China trade deal until the country returns to agreed terms. He also stepped up his criticism of the Fed, saying rates are “way too high“.

* He also stated that the EUR and other currencies devalued against the Dollar.

* Stock market sentiment turned cautious again and Asian markets are mostly in the red, as are European and US futures.

* This underpinned Treasury yields and saw yields coming down again. A -1.74% decline in the Hang Seng led broad losses in Asian stock markets, amid protests in the city and signs of rising funding costs.

* The WTI future fell back below the $53 per barrel market.

* The European data calendar is focusing on UK inflation numbers and ECB’s Draghi is set to speak amid signs that council members are split on the assessment of inflation expectations.

Charts of the Day



Technician’s Corner

* EURUSD is trading at 1.335 maintained a narrow trading band, with the Dollar overall largely in a holding pattern, following fairly steep losses seen over the past week or so. The pricing in of US rate cuts will limit EURUSD’s downside potential going forward, though the ECB’s dovish policy stance will limit the Euro’s advances. As a result, range trade mentality may be in the cards for the time being. Support comes at Friday’s 1.1252 bottom, with Resistance at Friday’s high of 1.1347, then the 200-day moving average at 1.1367.

Main Macro Events Today

* ECB’s President Draghi speech (EUR, GMT 08:15)

* Consumer Price Index and Core (USD, GMT 12:30) – May’s CPI has been estimated at a 0.1% gain in headline CPI with a 0.2% increase in core prices, following respective April readings of 0.3% and 0.1%. As-expected gains would result in a headline y/y gain of 1.9%, down from 2.0% in April, while core prices should rise 2.1%, a steady pace from April. Overall, the inflation outlook remains benign, though with an updraft into the end of Q1 and early Q2 from a petroleum price rebound that lost steam into May.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #749  
Old 13-06-2019, 07:06
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Default Re: Hotforex.com - Market Analysis and News.

Date : 13th June 2019.

MACRO EVENTS & NEWS OF 13th June 2019.




FX News Today

* Treasury yields have fallen back -1.2 bp to 2.108%, as weaker than expected CPI numbers out of the U.S. yesterday adding to speculation of rate cuts in the US.

* Fed funds futures price in about 80% chance for rate cut by by end of July.

* Asian bond markets were mostly supported, although JGBs corrected and the 10-year yield moved up 0.5 bp to -0.118% as a stronger Yen curbed investor appetite for Japanese assets.

* Stock markets mostly remained under pressure in Asia, with the Hang Seng declining -0.79% as large political demonstrations continue to unsettle investors.

* In Europe German HICP for May was confirmed at just 1.3% y/y this morning, which together with the decline in market based indicators for inflation expectations will also keep easing speculation alive as stock markets remain weighed down by geopolitical trade jitters.

* Oil prices continued to decline, with trade jitters continuing to weigh on sentiment and the WTI future is currently trading at USD 51.43 per barrel, up from yesterday’s lows, following the EIA inventory data which showed a 2.2 mln bbl rise in crude stocks.

Charts of the Day



Technician’s Corner

* WTI crude fell at $50.70 following the EIA inventory data which showed a 2.2 mln bbl rise in crude stocks. The street had been expecting a 0.5 mln bbl decrease, though the API revealed a 4.9 mln bbl build after the close on Tuesday. Overall, a fairly bearish report, which added further pressure on the USOIL downtrend. In the near-term the outlook remains bearish as well, while only a break above 52.80 could suggest a short term reversal to the upside.

Main Macro Events Today

* SNB Interest Rate Decision and Press Conference (CHF, GMT 07:30) – The SNB is not expected to surprise markets as the Swiss rate is forecast to remain at -0.75%. However, the recent strengthening of the Swiss franc will have rekindled SNB concerns of its disinflationary impact.

* Unemployment Claims (USD, GMT 12:30) – Initial jobless claims for the week of June 7 are estimated to fall to 217k, after holding at 218k in the week of June 1.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #750  
Old 14-06-2019, 08:24
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Default Re: Hotforex.com - Market Analysis and News.

Date : 14th June 2019.

MACRO EVENTS & NEWS OF 14th June 2019.




FX News Today

* Tense geopolitical events in the Mid East injected some risk in the market, providing a boost to bonds after reports surfaced overnight that two oil tanker were damaged off the coast of Iran.

* Stock markets traded mixed in Asia with Hong Kong and China bourses under-performing.

* Australian yields marked new record lows amid concern that geopolitical trade tensions will hit global growth and prompt central banks to step up easing measures.

* The FTSE 100 future is posting fractional gains as Brexit supporter Boris Johnson emerges as the clear favorite to win the leadership contest in the conservative party and succeed Teresa May.

* Investors await data releases that are expected to show ongoing weakness in the economy.

* The WTI future is at USD 52.16 per barrel after yesterday’s attacks.

Charts of the Day



Technician’s Corner

* EURUSD headed to 1-week lows of 1.1269 at mid-morning, and it is now traded higher at 1.1277 area. Trade this week has been centered on the 1.1300 mark, and further consolidation is expected ahead of next week’s FOMC policy announcement. There is not much of a chance for a rate move next week, but the FOMC is expected to make an important change in its statement, removing the word “patient” and likely replacing it with language similar to Powell’s comment from June 4 where he said the Fed will be “closely monitoring the implications of these developments” on trade and other matters. Until then, EURUSD can be expected to remain between its 50-day moving average at 1.1219, and its 200-day moving average at 1.1363.

* USDJPY has been rangebound,topping at 108.53 before later ebbing back to 108.23 lows. Treasury yields however, continue under pressure following benign CPI on Wednesday, and soft import prices early on Thursday, putting some pressure on the Dollar. As a result, USDJPY has been nearly static. Further consolidation is expected into next Week’s Fed policy announcement.

Main Macro Events Today

* Retail Sales and Industrial Production (USD, GMT 12:30) – Retail Sales are expected to have grown by 0.6% for May and 0.3% for ex-auto sales, following a -0.2% figure for the April headline and a 0.1% increase in ex-autos. Industrial production is projected at 0.6% in May, after a -0.5% reading in April.

* Michigan Consumer Sentiment Index (USD, GMT 14:00) – The preliminary result of the Sentiment Index is expected to show a return to April’s number below 100, and more specifically to 98.

Support and Resistance levels



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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  #751  
Old Yesterday, 07:16
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Default Re: Hotforex.com - Market Analysis and News.

Date : 17th June 2019.

MACRO EVENTS & NEWS OF 17th June 2019.




* A policy-packed week, with monetary policy meetings in the world’s major economies (Fed, BoJ, BoE), and the potential for guidance regarding future interest rate actions, albeit cuts in the prevailing rates are expected. In the UK, the voting race begins for the next Prime Minister. On the data front, focus turns on inflation and Retail sales.

Monday – 17 June 2019

* Inflation Report Hearings (GBP, GMT N/A) – The BoE Governor and several MPC members testify on inflation and the economic outlook before the Parliament Treasury Committee.

Tuesday – 18 June 2019

* RBA Minutes (AUD, GMT 01:30) – The RBA Minutes are expected to shed some light regarding an eventual rate hike (RBA is cautiously optimistic on growth and inflation).

* Consumer Price Index (EUR, GMT 09:00) – Prices are expected to fall in May to just 0.3%m/m from 0.7%, whilst the overall inflation is expected to stand unchanged at 1.2%y/y.

* ZEW Economic Sentiment (EUR, GMT 09:00) – Economic Sentiment for June is expected to rise slightly at -0.5 compared to -2.1 last month, however the negative reading means pessimists once again outnumber optimists and that escalation in US-Sino trade relations affects the outlook.

Wednesday – 19 June 2019

* Consumer Price Index (GBP, GMT 08:30) – Prices are expected to move up in May, with overall inflation to increase at 2.2% y/y, compared to 2.1% y/y last month.

* Consumer Price Index and Core (CAD, GMT 12:30) – May CPI is expected to run at a 2.0% y/y pace, matching the 2.0% clip in April and coming in just ahead of the 1.9% clip in March. Hence, the focus is on the “core” CPI figures.

* Event of the week – Interest rate Decision and Conference (USD, GMT 18:00) –Fed easing expectations have plateaued (Fed funds futures now fully discounting a 25 bp rate cut by the July FOMC). Although, there is not much of a chance for a rate move next week, but the FOMC is anticipated to make an important change in its statement, removing the word “patient” and likely replacing it with language similar to Powell’s comment from June 4 where he said the Fed will be “closely monitoring the implications of these developments” on trade and other matters.

* Gross Domestic Product (NZD, GMT 22:45) – The Q1 GDP is expected to grow at 0.7% compared to 0.6% last quarter, while the annualised rate should fall to 1.8% from 2.3%.

Thursday – 20 June 2019

* Interest Rate Decision (JPY, GMT 02:00) –The BoJ should maintain its current extraordinary level of stimulus as they wait and see how global growth progresses this year. Hence policy is expected steady once again. Among the core central banks, the BoJ is firmly poised to be “low for longest”.

* Interest rate Decision and Conference (GBP, GMT 11:00) – BoE should remain on hold now until the Brexit D-day, while the Brexit process has essentially been frozen in motion as the Conservatives go about the business of selecting a new party leader/prime minister. If the transition runs smoothly we could see another 25 bp hike quickly thereafter. The consensus forecasts suggest no change in the policy rate in this meeting and an unchanged 9-0 MPC voting.

Friday – 21 June 2019

* Markit Manufacturing PMI (EUR, GMT 07:30) – The Preliminary Manufacturing PMIs in Germany and Eurozone are expected to increase in June, to 44.5 and 48.1 respectively.


* Retail Sales and Core (CAD, GMT 12:30) – Canadian sales are expected to slip 1% in April, with a 0.9% gain excluding autos, following a 1.1% figure for the March headline and a 1.7% increase ex-autos.


* Markit Manufacturing PMI (USD, GMT 13:45) – The Preliminary Manufacturing and Services PMIs are expected to increase in June, to 52.5 and 53.2 respectively.

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

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

Click HERE to access the full HotForex Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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