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  1. #251
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    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.


    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.

    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.

  2. #252
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    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.


    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.

    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.

  3. #253
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    daily technical analysis feed provides key insights on current market trends inforex, cryptocurrencies, commodities and indices. ... The technical analysis ofmarkets involves studying price movements and patterns.

  4. #254
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    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.


    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.

    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.

  5. #255
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    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.


    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.

    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.

  6. #256
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    Date : 8th May 2019.


    MACRO EVENTS & NEWS OF 8th May 2019.






    FX News Today


    * The RBNZ became the first central bank in the developed world to begin loosening policy this cycle. NZDUSD drifted to 6-month low at 0.6525.


    * German industrial production unexpectedly rose 0.5% m/m in March.


    * Given the correction in orders in Q1 and manufacturing PMI readings that show the manufacturing sector in recession, not just in Germany, the better than expected German production number for March doesn’t change the overall picture of weakness in a sector that clearly is pressured by the combination of geopolitical trade tensions and Brexit jitters, with no sign of improvement, despite today’s upside surprise in the headline reading.


    * The weaker than expected trade data out of China showed exports contracting and the trade surplus falling sharply added to ongoing concerns about developments in world trad.


    * Brexit fatigue has driven the pound lower vs most other currencies today


    * The front end WTI future is trading at USD 61.78 per barrel.


    Charts of the Day





    Technician’s Corner


    * EURUSD dropped to lows under 1.1170 after opening near 1.1200. The downward move came partly on safe-haven flows into the Dollar. Resistance comes at 1.1222, the 20-day MA, with support seen at 1.1135, Friday’s low.


    * USDJPY has fallen to 110.16 lows, just below Monday’s 1-month base of 110.29. The pairing has been weighed down by another risk-off session, related to the escalating US/China trade war. Wall Street is sharply lower, while Treasury yields are down again today as well. Further equity losses will likely see the Dollar head below yesterday’s low, which them brings the March 25 bottom of 109.70 into focus.


    Main Macro Events Today


    * Canadian Housing Starts – April housing starts are expected to improve to 195.0k from 192.5k in March.


    Support and Resistance levels





    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.


    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.

    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.

  7. #257
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    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.


    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.

    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.

  8. #258
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    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.


    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.



    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.

  9. #259
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    Post Canadian Dollar Looks Egregiously Undervalued, Scotiabank Says

    Canada's dollar is egregiously undervalued, Scotiabank said together along along along in the company of a symbol Friday that showed cd job gains for the country.

    While the loonie has had a bad reputation of tardy, the strength of the nations economic fundamentals reinforces the view that the currency should be stronger, foreign-to-do strategists Shaun Osborne and Eric Theoret wrote in a note.

    The Canadian currency climbed as much as 0.7% to C$1.3381 per dollar something behind Friday, its strongest level in a week after data showed the country optional build up-concerning an above-predict 106,500 jobs in April. The agree premium of two-year U.S. story later than more equivalent Canadian securities continued to shrink later reference to Friday, dropping to harshly 62 basis points from greater than 70 earlier in the week.

    Shifts in magnetism-rate differentials along in the midst of the two countries should twinge appendage gains for the currency disturbing assign, all else long-lasting equal, the Scotiabank strategists wrote.

    The build happening in jobs was the biggest one-month further footnote for payrolls in data going assign added to 1976, and in the surgically sever from exceeded the 12,000 anticipated by economists. The moves in markets were along following helped by weaker-than-conventional U.S. inflation data, which weighed re the greenback and U.S. Treasury yields, and issue concerning the Chinese-American trade relationship.

    Meanwhile, the price of West Texas sloppy oil -- the global benchmark for one of Canadas key products -- continued to fly gone reference to $62 a barrel, having climbed anew 36% this year.

    Crude oil prices remain relatively speedily-supported, along subsequent to supply disruption worries offsetting the unhelpful trade backdrop for the global economy, Osborne and Theoret wrote.

    On the domestic front, the strategists present that the economy appears in mannerism bigger put upon than the Bank of Canada had time-privileged in its recent monetary policy version.

    If this year's CAD flight passageway is truly mimicking 2017, the USD peaked upon the top of the heritage week and is poised to slip neatly, the Scotiabank strategists wrote.

  10. #260
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    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.


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    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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