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Thread: EUR USD

  1. #581
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    EUR/USD losing the grips around 1.2270 ahead of PMIs




    After advancing to the boundaries of 1.2300 the figure in early trade, EUR/USD lost some upside traction and is now flirting with the area of session lows in the 1.2270/65 band.




    EUR/USD looks to PMIs and US yields:-
    Spot is losing ground for the third session in a row so far at the beginning of the week and trades at shouting distance from Friday’s lows in the mid-1.2200s, all amidst a firm buck and higher yields in the US money markets.


    In fact, yields of the key US 10-year reference are extending the up move on Monday and are trading closer to the psychological 3.0% level, always against the backdrop of solid risk-on sentiment.


    Later in the day, advanced April’s manufacturing and Services PMIs in the euro area should dictate the mood around the single currency. Across the pond, Markit will deliver its flash reading on Manufacturing PMI seconded by Existing Home Sales.


    From the speculative community, EUR net longs climbed to the highest level since later December 2011 in the week ended on April 17 according to the latest CFTC report.

  2. #582
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    AUD FALLS ON CHINA GDP AS NBS SEES EXTERNAL UNCERTAINTIES AHEAD
    TALKING POINTS:

    • Australian Dollar depreciates despite solid Chinese second quarter GDP
    • Weaker industrial production amidst US Chinese import tariffs hurt AUD
    • China’s NBS does see more external uncertainties for the economy ahead

    The Australian Dollar depreciated against its major counterparts despite some relatively solid Chinese second quarter growth statistics. China’s economy expanded 6.7% y/y which was in line with expectations and slower than the 6.8% growth seen in the first quarter. Quarter-over-quarter, China’s GDP was 1.8%. This was better than the +1.6% estimate and up from 1.4% prior.
    Overall, these economic growth statistics were largely as expected and nothing extraordinary out of the realm of possibilities. Yet, what could have caused some weakness in the Aussie Dollar? And for that matter, the New Zealand Dollar as well? Look no further more than the industrial production figures which also crossed the wires simultaneously with the GDP data.
    In June, Chinese industrial production increased only 6.0% y/y versus 6.5% anticipated and 6.8% in May. That was the weakest outcome since March and continues a trend of slowing expansion since April. Perhaps the tariffs US applied on China could be having some effects here. In fact, accompanying the slew of data were some comments from the National Bureau of Statistics of China.
    Read more:www.xtreamforex.com

  3. #583
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    BITCOIN CASH, LITECOIN AND RIPPLE DAILY ANALYSIS
    While it’s a positive start to the day, it’s going to need to be a spectacular end to the weekend for the majors to see their losses from the week reversed. Uncertainty over what lies ahead from a regulatory standpoint remains the key issue for the market.
    Bitcoin Cash Back at $700 Levels

    Bitcoin Cash gained 1.4% on Saturday, following Friday’s 0.77% rise, to end the day at $701.9.
    Friday’s late reversal continued through the morning, with Bitcoin Cash falling to an intraday low $685.5 before moving back through to $700 levels, the day’s first major support level at $679.97 left untested on the day.
    An afternoon recovery saw Bitcoin Cash break through the first major resistance level at $709.07 with an intraday high $713 before easing back, Bitcoin Cash managing to hold on to $700 levels, though plenty of resistance pinned Bitcoin Cash back from an early weekend rally.
    At the time of writing, Bitcoin Cash was up 0.25% to $703.3, with Bitcoin Cash recovering from an early dip to a morning $697.6 low, which held above the day’s first major support level at $687.27, to a morning high $704.8.
    For the day ahead a move, through to $705 would support a run at the day’s first major resistance level a $714.77, with the second major resistance level at $727.63 in play should market sentiment improve through the morning.
    Read more:www.xtreamforex.com

  4. #584
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    USD/JPY FUNDAMENTAL DAILY FORECAST – U.S. RETAIL SALES EXPECTED TO RISE 0.4%
    On Monday, the USD/JPY is going to continue to be sensitive to U.S. Treasury yields and appetite for risk. The Forex pair could continue to climb if tensions rise due to increasing concerns over the trade dispute between the United States and China. This is because investors are treating the dollar like a safe haven asset. Trading is light early Monday because of a bank holiday in Japan. At 1230 GMT, the U.S. is scheduled to release reports on Core Retail Sales, Retail Sales and Empire State Manufacturing Index. At 1400 GMT, Look for a report on Business Inventories.
    The Dollar/Yen is trading slightly lower early Monday. Traders are reacting to firm demand for higher risk assets and slightly higher U.S. Treasury yields. On Friday, the yen recovered from a six-month low against the Greenback.
    At 0047 GMT, the USD/JPY is trading 112.429, up 0.080 or +0.07%.
    Last week, the Dollar/Yen was driven higher in reaction to robust U.S. producer and consumer inflation data that supported the Fed’s plan to raise interest rates at least two more times in 2018. Upbeat comments on the U.S. economy from Federal Reserve Chairman Jerome Powell also stoked demand for the dollar.
    Last Thursday, Fed chief Powell said in a Marketplace radio interview he believes the U.S. economy remains in a “good place,” with recent government tax and spending programs likely to boost growth for perhaps three years.
    On Friday, the Fed released its semiannual report on monetary policy before Powell’s scheduled testimony to Congress this week on Tuesday and Wednesday. The report showed solid U.S. economic growth and the Fed expecting to keep raising rates gradually.
    Read more:www.xtreamforex.com

  5. #585
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    XTREAMFOREX DAILY NEWS

    BITCOIN AND ETHEREUM PRICE FORECAST – BTC PRICES SURGE


    The prices have surged higher due to support from some large investors and the improvement of fundamentals in the market.
    The BTC prices have got a boost over the last 24 hours and now the bulls are beginning to look quite threatening. The prices have been buoyant over the last week or so when compared to the previous weeks and over the last week, we have seen the prices make a move to push through the $6800 region a couple of times as well. They have been rejected so far but the point to note here is that the correction following the rejection has been pretty slow and shallow and the rebound has been quick and strong which shows that the bulls are slowly beginning to take control of the market. But the prices are still below the important resistance region of $6800 and this region is going to witness a huge battle between the bulls and the bears for control.
    BTC Prices Looking to Break Range
    The push higher has come due to some strong buying from some large investors and also with the reports of the entry of some large investors into the crypto market. We also saw that the tie taken for mining between 2 blocks of BTC took almost an hour and this has led to a slowdown in the mining and with the supply getting limited, the natural consequence of that is the fact that the prices have to move up and this is what we saw yesterday. But though the prices have risen, as long as there is no breakout from the range, the bears continue to be in control and the bulls have to do a lot more to take control but we are going to see soe interesting price action ahead.
    Read more:www.xtreamforex.com

  6. #586
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    FX WEEK AHEAD: CAD, GBP, JPY, AND NZD INFLATION; AND AUSSIE JOBS
    Talking Points:
    – Data releases are thinning on the calendar this week, with speeches from central bank policymakers making up three of the remaining eight ‘high’ rated events through Friday.
    – Inflation data in focus this week with New Zealand (Monday), British (Wednesday), Japanese (Thursday), and Canadian (Friday) CPI reports due out in the coming days.
    – The June Australian labor market report (Thursday) is the only non-inflation ‘high’ rated data release due the rest of the week.
    New Zealand is due to see a meaningful rise in Q2’18 inflation figures, lifted by the base effect from higheroil prices as well as a weaker trade-weighted New Zealand Dollar year-over-year. As a result, we’re looking for the Q2’18 New Zealand CPI figure to come in at +1.6% from +1.1% (y/y), the first rebound in three quarters. Nevertheless, inflation is due to remain below the RBNZ’s medium-term target of +2%,leaving little opportunity for 2018 rate hike expectations to rebound in a meaningful way. Currently, rates markets are not pricing in any RBNZ policy tightening in 2018; instead, a 10% chance of a 25-bps rate cut is priced-in for December 2018.
    A consensus forecasts are calling to see inflation having increased by +0.2% from +0.4% (m/m) and by +2.6% from +2.4% (y/y). Core CPI is expected to have stayed on holdat +2.1% unch (y/y). The report is expected to show the first tick higher in headline inflation since November 2017 (when it moved from +3.0% to +3.1% (y/y)). Now that Bank of England policymakers are embracing the point of view that the Q1’18 growth slowdown was transitory, signs are pointing to a 25-bps rate hike in August. According to overnight index swaps, rates markets are pricing-in 91% chance of a hike next month. As such, given the limited upside in pricing in a hike, a miss could leave a bigger impact on GBP-crosses than a beat.
    Read more:www.xtreamforex.com

  7. #587
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    AUD/USD SOARS AFTER JOBS DATA EXCEEDS EXPECTATIONS, EYES CPI NEXT
    TALKING POINTS FOR AUD/USD TRADING:

    • Australian Dollar strengthened against US Dollar after positive employment data
    • 2-Year bond yields rose, but the RBA may still keep rates at their all-time low
    • Sentiment-linked AUD remains vulnerable in the wake of possible US auto tariffs.

    The Australian Dollar appreciated against its US counterpart following the release of high-performing local jobs and employment data. The Australian economy added 50.9k jobs, a significant increase from economists’ forecasts of an additional 16.5k jobs and May’s 12.0k jobs. Meanwhile, June’s unemployment rate held in line with prior and estimate reports at 5.4% and the participation rate increased slightly to 65.7% from both prior and estimate values of 65.5%.
    The positive economic data may influence the Reserve Bank of Australia’s policy implications, as the uptick in employment data may lead to increased inflation, which we will see next week with the release of second quarter CPI. Two-year bond yields rose to 2.1901 from 2.0769 immediately following the data release, suggesting that the RBA may consider a change in rates quicker than they alluded to in their July meeting minutes. However, overnight index swaps were pricing at a 0.4% probability of rate hike probability at the RBA’s Aug 7 meeting at the time of the data release, not crossing the 50% threshold until their July 2019 meeting.
    Read more:http://www.xtreamacademy.com/forex-news

  8. #588
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    BITCOIN AND ETHEREUM PRICE FORECAST – BTC PRICES CONSOLIDATE THE GAINS
    The prices have been steady as the bulls try and hold on to the gains to inspire other traders and investors to join their lot.
    The BTC prices consolidated and ranged for much of the day and what should encourage the bulls is the fact that the markets was able to hold up the range break that we had seen over the previous day and this should set the tone for the coming days. The bullishness in the markets is clear for everyone to see and the fact that the breakout has arrived at almost the same time as when it happened last year as well, is something that is ominous for the markets. Now, the bulls would be hoping to keep pushing the prices higher and not allow it to fall back into the range over the next few days. If they do managed to do that, it would give a lot of confidence for the traders and the investors who are on the sidelines and this should help accelerate the bull run.
    BTC Prices Steady

    Now that the prices are clear of the $6800 region, the prices would now start to look higher with the next target being the $8000 region. Traders have to be careful about the correction that could happen as the prices might try to revisit the broken highs of the previous range and if and when that happens, that would be the ideal opportunity for the traders to buy some BTC for the next move higher. They also need to ensure that they place the stop losses at the correct areas so that they would be in a position to get out of the market if the prices and the market decides to fall back into the range once again.
    Read more:http://www.xtreamacademy.com/cryptocurrency-news


  9. #589
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    NZD/USD TECHNICAL ANALYSIS: DOWN TREND INTACT AS SELLOFF STALLS
    NZD/USD TECHNICAL STRATEGY: FLAT

    • New Zealand Dollar down trend intact despite 2 weeks of standstill
    • Break below July swing low sought for opportunity to enter short
    • Close through resistance above 0.68 needed to invalidate bearish bias

    The New Zealand remains locked in a well-defined down trend against its US counterpart despite over two weeks of sideways consolidation. Price action has been marked by a clear-cut series of lower highs and lowssince a reversal from triple top resistance in mid-April.
    From here, a daily close below support in the 0.6688-0.6726 area opens the door for a challenge of the 38.2% Fibonacci expansion at 0.6589. Alternatively, a reversal above 0.6851 – support-turned-resistance reinforced by a falling trend line – paves the way for a test of the 38.2% Fib retracement at 0.6959.

    Prices are too close to immediate support to justify establishing a short position from a risk/reward perspective. Alternatively, taking up the long side even tactically seems ill-advised absent a viable bullish reversal signal. With that in mind, opting for the sidelines is probably most prudent for now.
    Read more:http://www.xtreamacademy.com/forex-news




  10. #590
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    BITCOIN AND ETHEREUM PRICE FORECAST – BTC PRICES STEADY
    The prices have been consolidating and ranging but the bulls should be encouraged by the gains that have been ade over the last few days.
    The BTC prices continued to consolidate and range below the $7500 region which is something that was expected considering the breakout that we had seen during the middle of the week. Generally a breakout is followed by consolidation and then a correction back towards the highs of the range that had a breakout and we now await and see whether the correction happens. So far, it has not happened and it remains to be seen whether the correction would happen or whether the prices would continue to move higher after the consolidation phase is over. The bulls have established control and they should be happy now that they have been able to hold on to their gains over the past 2 days.
    BTC Prices Holds on to Gains

    This means that the breakout could be here to stay and it in turn would give a lot of confidence for those traders and the investors who are on the sidelines. It should also make the short sellers think twice before trying to short the market again and all this points to the continued bullishness in the markets over the short and medium term as well. The big investors, funds and the banks continue to queue up to enter the crypto market and also use the underlying blockchain technology to improve their infrastructure and the way that they do the transactions and all this points to a strong market in the future.
    Read more:http://www.xtreamacademy.com/cryptocurrency


  11. ARIONFORXtarder
 

 
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