Date : 4th April 2019. MACRO EVENTS & NEWS OF 4th April 2019. FX News Today 10-year Treasury yields are down -1.1 bp at 2.513% and JGB yields fell back -0.5 bp to -0.060%, as the stock rally stalled during the Asian session and the USD consolidated overnight. Big misses for ADP Jobs (50k) and ISM Non-Manufacturing PMI (19-month low) pressed a pause on Equity rally. Parliament passed (by 1 vote) a bill to ask to extend Brexit Day beyond April 12, but it remains unclear whether there is time to get it through by May 22. A longer extension looks most likely while the odds of a full 2nd Referendum odds are also increased. Asian markets are mostly trading narrowly mixed, with traders waiting for another catalyst such as tangible progress on the US-Sino trade talks before pushing equity markets out further following the recent rally. Topix and Nikkei are down -0.11% and unchanged on the day respectively. The Hang Seng dropped -0.42%, while CSI 400 and Shanghai Comp are up 0.80%, with hopes of government stimulus after the government said it plans to cut some airline fees adding support. The ASX meanwhile lost -0.83%. Oil futures are trading at USD 62.37 per barrel. German Factory Orders just in and is a big miss it is (-4.2% vs expectations of +0.3%), putting the German Industry in recession territory. Charts of the Day Technician’s Corner GBPUSD reacted positively after the UK Parliament asked the government to ask for another extension of the Brexit deadline. Resistance level remains at 1.3184, with a strong one at 1.32, while Support is bounded by the 200HMA at 1.3137. EURUSD is trading close to but below its 200HMA at 1.1248, affected by the weaker than expected US data, with indicators not showing a clear direction. USDJPY paused its rise after the worsening in US data releases, stabilizing around the 111.40 level. Both the MACD and the Stochastics indicators are suggesting a downturn. Support and Resistance remain at 110.73 and 111.68, although the former could change as the 200HMA could be binding. XAUUSD continues trading below 1300, fluctuating around the 1290 mark. Next Resistance point is at 1294.50 with indicators suggesting a mild upwards movement. Main Macro Events Today ECB Monetary Policy Meeting Accounts (EUR, GMT 11:30) – The ECB Accounts, similar to the FOMC Minutes, provide an insight with regards to the policymakers’ thinking about the European economy’s potential. Jobless Claims (USD, GMT 12:30) – Continuing Jobless Claims are expected to have decreased over the last week of March, while Initial Jobless Claims are forecast to have increased. Canada PMI (CAD, GMT 14:00) – The Canadian PMI is expected to have risen to 51.1 in March, compared to 50.6 in February. Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Dr Nektarios Michail Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 5th April 2019. MACRO EVENTS & NEWS OF 5th April 2019. FX News Today 10-year Treasury yields are up 1.3 bp at 2.528%, JGB yields down -0.7 bp at -0.0585 amid subdued trade on Asian stock markets. China was closed for a holiday and elsewhere markets traded mixed, with Topix and Nikkei managing gains of 0.23% and 0.28% respectively, while the ASX closed with a loss of 0.83%, although the latter was an exception, with most markets managing slight gains. There were some optimistic comments on the progress of the US-Sino trade deal from China, with Trump tweeting that he expects a deal “within 4 weeks” but after the recent run higher in equities traders will want to see more than words before pushing valuations higher. Markets will also be holding back ahead of key US payroll data today amid lingering concerns about the outlook for world growth. US futures are posting slight gains ahead of the key release, with the Dow Jones mini up 0.133%. GBP picked up (back over 1.3100) on a Brexit “Flexi-Extension” offer from the EU which suggests an extension of up to 12 months, but Britain could leave at any time if they signed an agreement. The front end WTI future meanwhile is trading at USD 62.16 per barrel. Charts of the Day Technician’s Corner GBPUSD reacted positively to “Flexi-Brexit”, showing upwards potential with Resistance at the 200HMA at 1.3126, and a stronger one at 1.3184, while Support stands at 1.3067. EURUSD moved up and down yesterday, with MAs showing an upwards movement with Resistance at its 200HMA at 1.1238, with both the MACD and Stochastics showing upwards signs. USDJPY continued its rise, breaking through the 110.68 level and trading around that level as of this morning. Both the MACD and the Stochastics indicators are suggesting a downturn. Support and Resistance remain at 110.95 and 111.80. XAUUSD has been trading in the 1285-1294 band, with indicators giving out mixed signals. Support and Resistance are marked as the channel bounds. Main Macro Events Today NonFarm Payrolls, Earnings, Unemployment (USD, GMT 12:30) – The most important piece of news this week, NFPs are expected to have grown by 180K, compared to 20K in the previous month, while earnings and unemployment are expected to have remained at the same levels. Canada Labour Market Data (CAD, GMT 12:30) – Canadian Participation Rate is expected to have declined to 65.7% compared to 65.8% last month, while the net change in employment is expected to have been just 1K compared to 55.9K last month. Unemployment is not expected to have changed. Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Dr Nektarios Michail Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 8th April 2019. MACRO EVENTS & NEWS OF 8th April 2019. FX News Today 10-year Treasury yields are down -1.1 bp at 2.485% and 10-year JGB yields fell back -2.9 bp to -0.069%. Stock markets failed to get lasting support from China stimulus hopes and the rebound in US payrolls on Friday. Indices climbed initially after a document published on the central government website yesterday suggested Beijing would step up the policy of targeted cuts to banks’ reserve ratios in a bid to encourage lending to small and medium sized companies. However, while the ASX still managed to close 0.54% higher, Chinese bourses erased earlier gains and Hang Seng and Shanghai Comp are down -0.03% and -0.87% respectively, while the CSI 300 blue chip index is down -0.75%. Topix and Nikkei also struggled and lost -0.42% and -0.25%. Earnings reports are coming into focus and investors are positioning for lacklustre results. US futures are also heading south, which suggests a correction from the six month high seen last week after the employment report. President Trump pressured the Fed to do more to sustain growth, while official comments from both sides suggest progress in trade talks. Oil prices are higher and the front end WTI future trading at USD 63.33 per barrel, amid concerns that fighting in Libya could lead to supply outages. Charts of the Day Technician’s Corner EURUSD moved in a downwards channel on Friday and early today, and has bounced off its 200HMA at 1.1230, although trading around it in the past couple of hours. Support still remains at 1.1213, while Resistance, after the 200HMA stands at 1.1233. Indicators are showing mixed signals. GBPUSD gained some on the last trading hours, bouncing off the 1.3067 Resistance, although the overall trend is still down. Support remains at 1.3027. The MACD is registering positive signs as the Stochastics are showing negative. USDJPY made a significant downwards move as the Japanese trade balance showed a surplus, compared to expectations of a deficit. After breaking through the 111.68 Support, the pair bounced off 111.34, as indicators are showing positive signs. XAUUSD broke clear of the 1294.5 Resistance level, and is currently trading just above its 200HMA, at 1296. Next Resistance level is 1300. Main Macro Events Today Factory Orders (USD, GMT 14:00) – February orders are expected to have declined by 0.6% m/m, compared to a 0.1% increase in January. Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Dr Nektarios Michail Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 9th April 2019. MACRO EVENTS & NEWS OF 9th April 2019. Macro Events & News By Dr Nektarios Michail - April 9, 2019 FX News Today 10-year Treasury yields are down -0.4 bp at 2.519% and JGB rates up 0.2 bp at -0.052%, as Asian stock markets traded narrowly mixed, with threats of new tariffs on European goods from President Trump adding to the cautious tone in the markets. Topix and Nikkei are down -0.26% and 0.06% respectively, the Hang Seng is up 0.22% and CSI 300 and Shanghai Comp up 0.11% and down -0.27% respectively, while the ASX closed down -0.01%, despite better than expected loans data. US futures are also posting slight losses and overall it seems investors are in a holding position ahead of the earnings season and with no firm agreement on US-Sino trade talks yet. Trump’s renewed threat of tariffs on European goods meanwhile acts as a reminder that geopolitical trade tensions are far from resolved. Oil prices meanwhile continue to hold above USD 64 per barrel amid fighting in Libya. Charts of the Day Technician’s Corner EURUSD stabilized around the 1.125 level, unable to break past the 1.1276 level. Support stands at 1.1256, with indicators showing mixed signs. GBPUSD broke through the 1.3067 level and is currently bound by the 200HMA at 1.3090, after positive news regarding a meeting between May, Merkel, and Macron. Support remains at 1.3067. USDJPY continues its downwards move towards the 111.22 level capped by the 200HMA, as soft Resistance is at 111.50. Indicators are suggesting a pause of the movement. XAUUSD is trading between the 1295-1300 marks, above its 200HMA and with indicators showing a slight downwards movement. Main Macro Events Today JOLTS Job Openings (USD, GMT 14:00) – Job vacancies are expected to have declined to 7.55M in February, compared to 7.58M in January. Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Dr Nektarios Michail Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 10th April 2019. MACRO EVENTS & NEWS OF 10th April 2019. Macro Events & News By Dr Nektarios Michail - April 10, 2019 FX News Today 10-year Treasury yields are down -1.4 bp at 2.486% as JGB yields fell back -0.4 bp to -0.063%. The IMF’s growth downgrade has rekindled concerns about the outlook for the world economy and the US threat of new tariffs on imports from Europe has reminded markets that geopolitical trade tensions are far from resolved and put a stop to the rally in recovery in stock markets seen over the past week. China’s bond yield rose to the highest this year as risk aversion flared up and the focus increasingly turns to China’s still large number of non-performing loans. Markets are also looking to Europe today, where the EU has to make a decision on yet another Brexit extension. The IMF named Brexit as one of the risks to world growth. Wall Street closed in the red and Asian markets also headed south, with Topix and Nikkei down -0.73% and -0.66%. The Hang Seng lost -0.34% so far and CSI 300 and Shanghai Comp are down -0.10% and -0.14%. US stock futures, however, are posting marginal gains, after yesterday’s correction on Wall Street. The front end WTI future meanwhile continues to hold above USD 64 per barrel. Charts of the Day Technician’s Corner EURUSD started moving upwards on early Wednesday, following the Brexit positive news, with both Stochastics and the MACD showing support for this movement. GBPUSD has been fluctuating in the 1.3026-1.3067 range for the past hours, also bounded by the 200HMA at 1.3082. Stochastics and the MACD support an upwards movement. USDJPY broke through the 200HMA, now at 111.31 early yesterday, but has been moving in a slight upwards trend after the worse than expected machinery orders for February. Indicators support the movement. XAUUSD broke through the 1300 mark but is still bounded by the 1304 Resistance, with indicators appearing indecisive regarding the future trend in the pair. Main Macro Events Today UK Manufacturing and Industrial Production and GDP (GBP, GMT 08:30) – Manufacturing production is expected to have declined by 0.7% y/y on February, compared to -1.1% in January. Industrial Production is expected to have eased to 0.1% m/m compared to 0.6% m/m last month, while UK GDP for February is forecast to register zero growth m/m, down from 0.5% m/m in January. ECB Interest Rate Decision (EUR, GMT 11:45) – No changes are expected in the ECB policy rate, even though some policy guidance should be offered, especially with regards to future rate hikes. US CPI Inflation (USD, GMT 12:30) – Core CPI is expected to have remained at 2.1% y/y, close to the Fed’s 2% target. The overall index is forecast to rise to 1.8% compared to 1.5% in March. European Council Summit on Brexit (EUR-GBP, GMT 16:00) – The future of Brexit is expected to be discussed in the summit, with the EU said to offer a “flextension” until either December 2019 or March 2020, even providing the UK with the opportunity to withdraw its application for leaving the EU. Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Dr Nektarios Michail Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 11th April 2019. Macro Events & News By Dr Nektarios Michail - April 11, 2019 FX News Today Treasury yields stabilised after falling yesterday in the wake of softer core CPI readings, while the US 10-year rate is up 0.5 bp at 2.470%. 10-year JGB yields fell back -0.2 bp to -0.068% in catch up trade and as stock market sentiment remains muted. Indices traded mixed with Chinese markets underperforming. Dovish leaning central banks revived growth concerns and geopolitical trade tensions also continue to hang over markets, with no tangible sign of a US-Sino trade deal. The Brexit question was kicked down the line to October 31, but without a clear solution in sight. Topix and Nikkei are down 0.4 bp and up 0.08% respectively, while Hang Seng and Shanghai Comp lost -0.88% and -1.31%. The CSI 300 blue chip index is down -1.99% and the ASX closed with a loss of -0.36%. US futures are also marginally in the red, while the front end WTI future is trading at USD 64.25 per barrel. Charts of the Day Technician’s Corner EURUSD broke through the 1.1276 level in the last few hours, with soft Resistance at 1.1286 and strong resistance at 1.13. Stochastics and the MACD show mixed signals. GBPUSD gained as news of the decision to delay Brexit was announced, even though whether it can persist above the 200HMA level of around 1.3086 is still unclear. Indicators show an easing of the trend. USDJPY continues to trade below the 200HMA, now at 111.11 with both the Stochastics and the MACD showing support for an upwards trend. XAUUSD broke 1304 after breaking the 1300 mark yesterday, currently trading between the 1309 and 1304 levels. Indicators again appear indecisive regarding the future trend of the pair. Main Macro Events Today US PPI ex Food & Energy (USD, GMT 11:30) – The US PPI is expected to have grown by 2.4% in March, compared to 2.5% last month, similar to the core CPI results yesterday. Jobless Claims (USD, GMT 11:30) – Initial Jobless Claims are expected to have increased to 211K, compared to 202K in the last week of March, while Continuing Jobless Claims are forecast to reach 1.738M against 1.717M last week. Fedspeak: Clarida, Williams, Bullard, and Bowman (USD, Various) – All 4 FOMC Members are due to speak on monetary policy issues, a topic which is likely to affect markets, depending on the context. Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Dr Nektarios Michail Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Macro Events & News By Dr Nektarios Michail - April 12, 2019 FX News Today 10-year Treasury yields are unchanged at 2.497% and JGB yields up 0.6 bp at -0.059%, in catch up trade, after perky US PPI readings put pressure on bonds yesterday, even if they are not expected to alter the Fed’s patient policy setting for now. Chinese bonds continue to underperform amid warnings on the still large number of non-performing loans that could threaten some banks and force the government to step in. Stock markets traded mixed, again with China underperforming, as markets await key trade numbers. Topix and Nikkei are down -0.10% and up 0.67% respectively. The Hang Seng lost -0.27% so far and CSI 300 and Shanghai Comp are down -0.49% and -0.26% respectively. Reports of impending cost cuts at Australia’s largest bank meanwhile helped the ASX to close with a gain of 0.76%. US futures are posting slight gains ahead of key earnings reports from JPMorgan Chase and Wells Fargo. The front end WTI future is trading at USD 63.83 per barrel. Charts of the Day Technician’s Corner EURUSD keeps trading above the 1.1276 level in the last few hours, after trading below that point through the night. A strong Resistance point remains at 1.13. Stochastics and the MACD show signals of a downwards move. GBPUSD keeps trading around the 1.30 mark, crossing its 20HMA early today, but with indicators showing mixed signals. USDJPY continues to increase and broke through the 111.68 level, and coming near the 111.80 Resistance. Stochastics and the MACD show an easing of the upwards movement. XAUUSD had a bad day yesterday, breaking through four Support levels and ending below 1294. Since then, it has been registering a slow upwards trend, something more evident in the Stochastics than the MACD indicator. Main Macro Events Today China Imports and Exports (CNH, AUD, N/A) – Even though no exact time has been specified, China’s trade performance is expected to have a strong effect on its currency and the Aussie. Exports are expected to have increased, after a sharp decrease last month, while imports are still expected to have shown negative growth. Industrial Production (EUR, GMT 09:00) – Industrial Production is expected to have decreased by 0.6%, compared to growth of 1.4% in January. Michigan Consumer Sentiment Index (USD, 14:00) – US Sentiment is expected to decline to 98.0 in April, compared to 98.4 in March. Support and Resistance Click here to access the Economic Calendar Dr Nektarios Michail Market Analyst Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 15th April 2019. MACRO EVENTS & NEWS OF 15th April 2019. By Andria Pichidi - April 15, 2019 FX News Today The broad rise in Asian long yields holds as local stock markets rallied in catch up trade after a strong close on Wall Street. Trade talk hopes, signs of improving growth and low inflation, coupled with positive earnings reports continued to underpin stock market sentiment. Mnuchin suggested over the weekend that US-Sino talks are nearing the final round and that the final agreement would go “way beyond” previous efforts to open China’s markets to US companies. US futures are narrowly mixed while European stock markets are underpinned. Japanese markets are closing for 10 consecutive days from April 27 to May 6, inclusive. After the strong first quarter earnings report from JPMorgan on Friday the focus is now turning to Goldman Sachs, Citigroup and Bank of America. The front end WTI future is trading at $63.53 per barrel. USD and JPY lower vs most currencies, risk appetite up on strong China import data. GBP steady after EU Brexit extension; risk is it won’t resolve UK political gridlock. Charts of the Day Technician’s Corner EURUSD keeps trading close to 3-week highs of 1.1323. Stochastics, RSI and the MACD show signals of further improvement intraday. Next Resistance point holds at 1.1330. GBPUSD pulled back under 1.3100 after leaving a high at 1.3120. It is supported from the confluence of 200-period EMA and PP level the past 7 consecutive hours, at 1.3084. Next Support is set at 1.3065. USDJPY settled at around PP level at 111.90 . However after Friday’s high the positive sentiment is decreasing with intraday RSI and MACD turning lower as the overall outlook remains positive. The upside Resistance level is set at 112.19, while Support now comes in at 111.68. Main Macro Events Today FOMC Member Evans Speaks – Federal Reserve Bank of Chicago President Charles Evans is due to speak in a television appearance on CNBC’s Squawk Box. BOC Business Outlook Survey – The BoC’s outlook survey is expected to show an economy still moving along at a decent pace, but facing a number of challenges. This is a key report for the upcoming BoC announcement and MPR, as the Bank makes frequent references to the findings of the survey. A survey consistent with modest but still respectable growth, well contained inflation expectations and an unwinding in capacity pressures would line-up with our expectation for no change in rates later this month and through year-end. Empire State index – It is estimated to jump to 9.0 in April from a 2-year low of 3.7 in March. Support and Resistance Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Dr Nektarios Michail Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Date : 16th April 2019. MACRO EVENTS & NEWS OF 16th April 2019. Macro Events & News By Andria Pichidi - April 16, 2019 FX News Today A mixed picture on Asian bond markets as Stock markets were mostly higher, while Japanese indices fell back from early lows and Chinese indices rallied in the second part of the session. A lacklustre Bank earnings report yesterday saw some investors turning cautious again and in Asia many will be waiting for Chinese GDP numbers tomorrow. US futures are moving higher, with the Dow Jones future up 0.239%. The front end WTI future is trading at USD 63.27 per barrel. Charts of the Day Technician’s Corner EURUSD settled to narrow orbit of 1.1300, consolidating with MACD, and RSI been flattened in the neutral zone confirming the lack of direction. Resistance is set at PP level at 1.1306 and Support is at the latest low 1.1292. USDCAD edged higher at 1.3395, holding inside recent ranges, as crude oil slumped $0.50. As it is set for a 2nd trading day above 20-day MA with upper Bollinger bands extending to the upside, a retest of the next Resistance levels at 1.3405 and 1.3440 could be seen. USDJPY found support again under the 112.00 mark, after topping at 112.03overnight. A move over the March 5 high of 112.13 could take the pairing to near 4-month highs. Support now comes in at 111.79. Main Macro Events Today Earnings and Unemployment Rate – Average Earnings are expected to have remained at 3.4% while the unemployment rate is expected to have increased to 4%. German ZEW – The ZEW investor sentiment is expected to lift out of negative territory in the April reading and rise to 0.5 from -3.6 in March, which would be a continuation of the improvements in recent months and suggests that pessimists no longer outnumber optimists. US Industrial Production – March industrial production is projected to rise 0.2%, after a flat February reading, and capacity utilization should edge up to 79.2% from 79.1%. NZ CPI Inflation – New Zealand’s inflation rate is expected to have declined to 1.8% y/y compared to 1.9% y/y in the final quarter of 2018. Trade Balance – The Japanese trade balance is expected to turn out positive in March, standing at 310 billion Yen, compared to 335 billion Yen in February. Support and Resistance 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.
Date : 17th April 2019. MACRO EVENTS & NEWS OF 17th April 2019. FX News Today * 10-year Treasury yields are up 0.7 bp at 2.598% and JGB yields climbed 1.8 bp to -0.015%, as stock market sentiment got a boost from Chinese data releases that beat expectations. * Chinese GDP growth came in at 6.4% y/y, in the first quarter, unchanged from Q4, while production surged 8.5% y/y and retail sales 8.7% y/y. * Data were taken as a sign that the government’s stimulus measures are starting to take effect. While it may be too early to call the all clear on the world economy, together with signs that US-Sino trade talks are making progress, * the data will go some way to bolster confidence, especially after positive surprises on credit and housing data last week. The data underpinned Asian stock markets, as Topix and Nikkei posted gains of 0.29% and 0.27% respectively. The Hang Seng is up 0.01% and CSI 400 and Shanghai Comp gained 0.11% and 0.34%. * Broader Asian indices are at the highest level since last July, even as the ASX underperformed and closed with a loss of -0.35%, dragged down by the materials sector. * US futures are also posting broad gains and the front end WTI future has moved up to now USD 64.50 per barrel. Charts of the Day Technician’s Corner * EURUSD moved past 1.13 early today and has been moving towards the 1.1315 Resistance level. Key Resistance remains at 1.1320 while the Support at 1.1279 is still strong after being hit twice yesterday. Indicators support an upwards move. * GBPUSD has been moving downwards but is so far unable to break through the psychological 1.30 level, fluctuating around the 1.3067-1.3026 levels. Indicators are giving mixed signals. * USDJPY found support again under the 112.00 mark, and continued to trade there yesterday, with the Japanese data releases causing only some volatility. Indicators are showing mixed signals. * XAUUSD is trading at lows, after breaking through the 1285 Support level. Gold appears unable to break through the 1275 level, with the MACD and Stochastics showing upwards signals. Main Macro Events Today * UK RPI and CPI inflation (GBP, GMT 08:30) – Both the RPI and the CPI are expected to have declined in March, reaching 2.1% and 1.6% respectively, down from 2.5% and 1.9% respectively. * EU CPI inflation (EUR, GMT 09:00) – Both the core and the overall CPI inflation rates are expected to have remained at the same levels, at 0.8% and 1.4% respectively. * Canada CPI Inflation (CAD, GMT 12:30) – The BoC Core price index is expected to have remained at 1.3% y/y, while the overall CPI index is forecast to rise to 1.9% y/y in March compared to 1.5% in February. Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Dr Nektarios Michail Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
