Forex

[777tradesresearch]

Makuch, whose term ends in 2021, told reporters he considers finance minister Peter Kazimir as a suitable replacement.
"The next government will likely be made of several parties with a different world view," Makuch said, addressing rumors in the Slovak press that he is preparing for an early departure. "That could lead to political instability and early elections."

[777tradesresearch]

Bitcoin Falls, Ethereum Down 11%; Ripple Crypto Product to Go Live Next Month




Bitcoin and other cryptocurrency prices fell on Tuesday, with Ethereum and Litecoin down more than 11%. Ripple hinted that its cryptocurrency product xRapid would go live “in the next month or so.”
Bitcoin traded 3.6% lower to $6,249.9 at 12:20AM ET (04:20 GMT) on the  Bitifinex  exchange. 
Ethereum  plunged  11.5% to $196.13 in the previous 24 hours.  

[777tradesresearch]

XRP also slid 3.1% to $0.27244 on the  Poloniex  exchange, while  Lite coin  slumped 11.7% at $50.816. 
In other news, platform exchange Coinbase is planning to hire 130 employees in its New York office by the end of next year, bringing the total staff to 150. The move is part of the companies plan to target institutional investors
When we saw the market begin to correct, which we all expected, institutions didn’t lose interest. It was exactly the opposite. They look at it as an opportunity to enter when things are not too frothy

[777tradesresearch]

The U.S. dollar slipped, while the Japanese yen hovered near a two-month low on Wednesday as investors digested the latest trade news.


The US Dollar Index, which tracks the greenback against a basket of other currencies, was down 0.07% at 94.16 by 12:26AM ET (04:26 GMT).


The dollar slipped after Beijing announced on Tuesday retaliatory tariffs that targeted more than 5,000 U.S. products worth $60 billion. The new tariffs would take effect on Sep 24, China’s Ministry of Finance said in a statement. The country’s commerce ministry also filed a complaint to the World Trade Organization (WTO) against the U.S., according to reports.

[777tradesresearch]

The Trump administration previously stated that the U.S. would impose tariffs on another $267 billion of additional imports if China retaliates.
“China has openly stated that they are actively trying to impact and change our election by attacking our farmers, ranchers and industrial workers because of their loyalty to me,” Trump said on Twitter. “What China does not understand is that these people are great patriots.”

[777tradesresearch]

The dollar hovered near a seven-week low against a basket of major currencies, in part as safe-haven demand for the U.S. currency ebbed on relief that tariffs the United States and China imposed on each other's goods were set at lower levels than some had feared.
The British pound stepped back from two-month highs on caution over whether the European Union and UK can reach a Brexit deal at their ongoing summit while the New Zealand dollar jumped to three-week highs on Thursday after strong domestic GDP data.
The dollar index stood at 94.554 (DXY) (=USD), near its seven-week low of 94.308 touched on Tuesday as its more risk-sensitive rivals held firmer.

[777tradesresearch]

All of the major currencies traded sharply higher Thursday on the back of strong gains in U.S. equities. Risk appetite has been healthy throughout the week but investor optimism carried the S&P 500 and Dow Jones Industrial Average to record highs. These moves also drove EUR/USD, GBP/USD and USD/JPY to 2-month highs. While a stronger-than-expected Philadelphia manufacturing index and lower jobless claims reports contributed to the rally, trade relief is the main reason why investor sentiment is so strong. The trade war hasn’t disappeared but aside from limited retaliation by China, tensions did not escalate further this week. The economy is strong and earnings have been great and there’s a good chance that the Federal Reserve will give the market a break after raising interest rates next week. Investors also feel confident that its just a matter of time before NAFTA and Brexit deals are reached. USD/JPY hit 112.50 and we think the rally could extend to 113 before next week’s FOMC rate decision.

[777tradesresearch]

Dollar Unchanged Ahead of Fed Meeting, New Zealand Dollar Jumps


The U.S. Dollar was unchanged on Wednesday as markets awaited the conclusion of the Federal Reserve’s latest meeting, while the New Zealand Dollar jumped against the dollar on a better-than-expected business confidence report.
The Fed is widely expected to hike interest rates later in the day. Markets also anticipate another rate hike before the year end, although the outlook for 2019 is less clear, according to analysts.
As well as an interest rate decision, the Federal Reserve will also serve up its summary of economic projections, outlining policymakers' expectations on economic growth, inflation and unemployment.

[777tradesresearch]

The U.S. dollar index, which tracks the greenback against a basket of other currencies, was unchanged at 93.73 by 11:01PM ET (03:01 GMT). The index has slipped around 3% since August.


Global trade tension remained in focus as China’s Vice Commerce Minister Wang Shouwen said Beijing would resume trade talks only if the U.S. show sincerity and not put a knife at China’s throat.

[777tradesresearch]

Markets Weaken With Russell 2000 Leading Lower


That one-day bounce in the Russell 2000 last week is looking like a long time ago as yesterday finished with a cut below its 50-day MA. Technicals are fading fast as relative performance began a cliff fall.


While other indices haven't shown this same level of weakness it's a worrying start as Small Caps' typically lead. The slower channel remains intact so it's not a full on reversal yet.


The NASDAQ 100 started brightly and looked to have generated a solid move to challenge its bull trap before sellers pushed it back to its starting point - leaving a 'gravestone doji'. While the Russell 2000 struggled yesterday, the weak finish for the NASDAQ 100 wasn't enough to register as a support break.