Archive for Financial News – Page 2

Stocks corrected down because of weak earnings reports

By IFCMarkets

On Thursday, US stock indices corrected down

Weak quarterly earnings reports of eBay online store (-10%) and American Express payment system (-2.7%) contributed to the market decrease

An additional negative factor was the decrease in shares of automakers Ford Motor (-0.5%) and General Motors (-1.4%) due to the risk of introducing mutual duties on imports of cars of the US and the European Union. The financial sector was the top loser. Bank of New York Mellon stocks fell by 5.2% after the report on the reduction of customers. Shares of JPMorgan, Bank of America and Citigroup fell by more than 1%. This was contributed by a decrease in the difference of 2-year and 10-year US government bond yields to the 11-year low. By the way, amid this, the growth of the US dollar index stopped. According to FedWatch service, the probability of a 2-fold increase in Fed rate in the current year is 61%, which is not so much. Nevertheless, investors still expect good corporate reports and growth of the aggregate profit of companies from the S&P 500 list by 21.5%. In July 1, before the start of the reporting season, the forecast was much more modest + 20.7%. Today, the earnings reports of Microsoft, Schlumberger, Honeywell International, General Electric and other US companies will be released. No significant economic statistics is expected in the US.

stock

European stock indices fell because of weak earnings reports

The largest French advertising agency Publicis reported a decrease in sales and its stocks fell by almost 9%. After that, the entire European media sector fell by 1.4%

The earnings reports of the German software manufacturer for business SAP also disappointed investors, which led to the decrease in company’s stocks by 3.5%. Shares of the Finnish paper manufacturer Stora Enso collapsed by 12% because of weak quarterly data. The cost of non-ferrous metals markedly decreased amid the China-US trade war and the slowdown in the growth of the Chinese economy. Because of this, stock prices of European mining and metallurgical companies fell. This morning, the Eurozone current account balance for May was published, which turned out to be moderately negative for the euro.

Today, Nikkei continued its decline

Investors were concerned about a noticeable weakening of the Chinese yuan. This can increase the competitiveness of goods from China in comparison with Japanese. Amid a decrease in world metal prices, stock prices of metallurgical companies fell. In particular, Kobe Steel – by 2.3%. Stocks of the semiconductor manufacturers Tokyo Electron (-3%) and Sumco (-4.1%) fell after reports on the reduction in the revenue of the world leader in this sector – Taiwan company TSMC. Weak earnings reports of European advertising agency Publicis caused a decrease in prices of similar Japanese companies, and in particular, Dentsu (-7.5%). This morning, data on inflation for June came out in Japan, which turned out to be positive for the yen. The consumer price index CPI Ex Fresh Food, Energy has slightly decreased.

Gold prices have updated the annual low

Some market participants start talking about the fact that gold prices have already fallen enough to become again attractive to buyers. In particular, the World Gold Council forecasts an increase in demand for it in the second half of 2018. This can happen because of the increased risks amid trade wars and the possible increase in inflation. Meanwhile, since the beginning of the week, gold prices have fallen by 2%. Inflation in the US is now at the maximum level for 7 years.

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Fibo Analysis for Bitcoin and Ether: July 20, 2018

Article By RoboForex.com

Bitcoin

On H4, Bitcoin is continuing to form the correction uptrend. This correction reached 38.2% Fibo and may go ahead to reach 50.0, or $7,850, and 61.8%, or $8,340. The low at $5,750 acts as a support.

BTCUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, Bitcoin is correcting locally; once 23.6% Fibo is reached, the price may fall to 38.2% ($7,004), 50.0% ($6,830), and 61.8% ($6,650).

BTCUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Ether

On H4, Ether is going down after reaching 23.6% Fibo. Currently, both the continuation of the uptrend and the pullback to the low followed by a breakout are possible. The uptrend targets may lie at 38.2% ($566.50) and 50.0% ($616.60). In case the low at $404.21 gets broken out, the price may go down to reach the post correctional extension at 138.2%-161.8% Fibo, or $362.20-$336.10.

ETHUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, Ether is experiencing downward correction, which reached 50.0% Fibo and may go ahead to reach 61.8, or $446.85, and 76.0%, or $431.15.

ETHUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Trump attacks King Dollar, Gold edges up

Article by ForexTime

One would have expected U.S President Donald Trump’s criticism of the Federal Reserve’s policy to heavily punish the Dollar and draw opportunistic bears into the vicinity.

However, the Greenback remains somewhat supported despite easing from yearly peaks with prices trading above 95.00 as of writing.  While Trump’s comments on how he was “not thrilled” by the Federal Reserve’s interest rate rises could create a sense of uncertainty over Washington’s Dollar policy, it is unlikely to derail the Fed from gradually raising interest rates. Trump’s verbal intervention is likely to hit a brick wall, as heightened rate hike expectations ensure that the Dollar reigns supreme across currency markets.

Focusing on the technical picture, the Dollar Index is bullish on the daily and weekly charts. A solid weekly close above the 95.00 resistance level could seal the deal for further upside, with 96.00 and 96.40 acting as points of interest. Alternatively, a move back below 95.00 may invite a decline towards 94.30 higher low.

Currency spotlight – GBPUSD

Sterling weakness was a dominant market theme this week thanks to an appreciating Dollar, disappointing U.K economic data, fading expectations of a BoE rate hike and continuing Brexit uncertainty.

Matters could be exponentially worsened for the battered Pound today, if the European Union rejects Theresa May’s Brexit white paper. Such a scenario is likely to heavily damage buying sentiment towards the currency as fears of a hard Brexit intensify.

The GBPUSD continues to fulfil the prerequisites of a bearish trend on the daily charts as there have been consistently lower lows and lower highs. A weekly close below the 1.3000 level could invite a decline towards 1.2950 and 1.2870. Alternatively, a technical rebound towards 1.3115 may offer an opportunity for bears to jump back into the game.

Commodity spotlight – Gold

A broadly stronger Dollar has offered nothing but pain to Gold which is set to conclude the trading week negatively.

The aggressive depreciation witnessed in recent days continues to highlight how the precious metal remains heavily influenced by the Dollar’s performance and U.S rate hike speculation. With Jerome Powell reinforcing market expectations over the Fed gradually raising rates, Gold is likely to remain vulnerable despite trade tensions weighing on sentiment. With regards to the technical picture, the precious metal is heavily bearish on the daily timeframe. Sustained weakness below $1236 could encourage a decline toward $1209 and $1200, respectively.

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.


Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Tech Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT, July 20, 2018

Article By RoboForex.com

EURUSD

EUR/USD reached 1.1575 and has now entered a rising phase. This may lead to a correction towards 1.1700. However, any rise may only be considered as an alternative, while the major scenario is the price falling to 1.1470.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD

The pound has reached its local downtrend target at 1.3000. Today, the pair is rising, which could mean a correction to 1.3111, and then a fall till 1.2886.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF

The USDCFH is still consolidating around 1.0000, while it could well fall to $0.9920. Any fall may only be considered as an alternative scenario involving correction, while the major scenario is the price rising to 1.0120.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY

The USDJPY completed its first falling phase, and today it corrected upwards to 112.80. Another possible downward movement has a local target at 111.50.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD

The Aussie reached its local target and is correcting today, which may lead to a rise towards 0.7377. Then, however, the pair is likely to fall reaching its strategic target at 0.7285.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB

The pair is being pushed upwards, and 63.77 here is possible, followed by a fall to the consolidation range at 62.00. The major scenario now lies in the price breaking out the range and heading down to 60.00.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GOLD

The gold is forming a consolidation range based on its lows. Once the yellow metal goes above $1,228, it may start rising towards $1,242. Conversely, if the breakout is top down, $1,205 may be reached.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent crude is trading within a consolidation range near $71.85; today, it may fall to $68.22, and then rise to $71.80. After that, the crude is likely to head down again, reaching $68.00. This is basically a 5-wave correction flag, which, when fully formed, may push the price higher to $82.00.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

The Analytical Overview of the Main Currency Pairs on 2018.07.20

Analytics by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.16366
  • Open: 1.16417
  • % chg. over the last day: +0.13
  • Day’s range: 1.16262 – 1.16736
  • 52 wk range: 1.0571 – 1.2557

On the EUR/USD currency pair, an ambiguous technical pattern has occured. The quotes are in a sideways trend. The trading instrument is testing local support and resistance levels: 1.16350 and 1.16750, respectively. Investors expect additional drivers. We recommend opening positions from the key levels.

The news feed on 2018.07.20:

Today, the publication of important economic reports from the US and the eurozone is not planned.

EUR/USD

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram is located in the positive zone and above the signal line, which indicates the bullish sentiment on the EUR/USD currency pair.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which sends a signal to sell EUR/USD.

Trading recommendations
  • Support levels: 1.16350, 1.16100, 1.15850
  • Resistance levels: 1.16750, 1.17000, 1.17400

If the price fixes below 1.16350, EUR/USD is expected to fall. The movement is tending to 1.16100-1.15850.

Alternative option. If the price above fixes the resistance level of 1.16750, it is necessary to consider buying EUR/USD. The movement is tending to 1.17000-1.17400.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30659
  • Open: 1.30131
  • % chg. over the last day: -0.36
  • Day’s range: 1.29949 – 1.30366
  • 52 wk range: 1.2361 – 1.4345

Currently, GBP/USD is consolidating. The technical pattern is ambiguous. The key support and resistance levels are 1.30000 and 1.30400, respectively. Pressure on the pound is put by a weak report on retail sales in the UK. In June, retail sales in the country fell by 0.5%. Experts expected the growth rate of 0.1%. Positions must be opened from the key levels.

The news feed on the UK economy is calm.

GBP/USD

Indicators point to the power of sellers. The price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell GBP/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is below the %D line, which also sends a signal to sell GBP/USD.

Trading recommendations
  • Support levels: 1.30000, 1.29600
  • Resistance levels: 1.30400, 1.30800, 1.31150

If the price falls below the round level of 1.30000, a further drop in GBP/USD is expected. The movement is tending to 1.29600-1.29500.

Alternative option. If the price fixes above 1.30400, it is necessary to consider buying GBP/USD. The movement is tending to 1.30750-1.31000.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31654
  • Open: 1.32706
  • % chg. over the last day: +0.68
  • Day’s range: 1.32461 – 1.32897
  • 52 wk range: 1.2059 – 1.3795

At the moment, the USD/CAD currency pair is consolidating near the monthly highs. A unidirectional trend is not observed. The key trading range is 1.32500-1.32800. In the near future, a technical correction is not ruled out. Investors are awaiting the publication of important economic reports from Canada. Positions must be opened from the key levels.

At 15:30 (GMT+3:00) data on inflation and retail sales in Canada will be published.

USD/CAD

The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.

Trading recommendations
  • Support levels: 1.32500, 1.32150, 1.31900
  • Resistance levels: 1.32800, 1.33250

If the price fixes below the support level of 1.32500, correction movement is expected. The movement is tending to 1.32150-1.32000.

If the price fixes above 1.32800, you need to look for entry points to the market to open long positions. The target movement level is 1.33000-1.33250.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.829
  • Open: 112.430
  • % chg. over the last day: -0.43
  • Day’s range: 112.208 – 112.622
  • 52 wk range: 104.56 – 114.74

Yesterday, the bearish sentiment prevailed on the USD/JPY currency pair. The trading instrument updated local extremes. At the moment the quotations are consolidating in the range 112.200-112.550. Further correction of the USD/JPY quotes is expected. We recommend opening positions from the key support and resistance levels.

The news feed on the economy of Japan is calm.

USD/JPY

Indicators do not send accurate signals. The price has fixed between 50 MA and 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/JPY.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which indicates the growth of USD/JPY.

Trading recommendations
  • Support levels: 112.200, 111.850, 111.300
  • Resistance levels: 112.550, 113.100

If the price fixes below 112.200, further correction of the USD/JPY currency pair is expected. The movement is tending to 111.850-111.500.

Alternative option. If the price fixes above the 112.550 level, one should consider buying USD/JPY. The movement is tending to the round level of 113.000.

Analytics by JustForex

The US Dollar Index Has Updated the Highs

By JustForex

The US currency continued to rise against the basket of major currencies after Powell’s, the head of the Fed, positive statements. The US dollar index (#DX) updated the monthly highs and closed in the positive zone (+0.18%). However, the trade war remains the focus of attention. Representatives of the US White House believe that Xi Jinping, President of the People’s Republic of China, obstructs negotiations and the achievement of agreements between the countries. At the same time, the EU intends to introduce duties in return on the import of automobiles to the US from Europe. On July 25 representatives from the European Union are going to visit Washington, where, most likely, the situation will be clarified.

The US dollar is also supported by the index of manufacturing activity from the Federal Reserve Bank for July, published yesterday, which counted to 25.7 and was above the forecasted value of 21.6. Also yesterday, data on the volume of retail sales in the UK for June were published: the indicator dropped to -0.5%, while experts expected +0.1%. Today we expect important statistics from Canada.

The “black gold” prices are moderately growing. At the moment, futures for the WTI crude oil are testing a mark of $68.35 per barrel.

Market Indicators

Yesterday, sales were observed on the US stock market: #SPY (-0.38%), #DIA (-0.49%), #QQQ (-0.50%).

At the moment, the yield of 10-year US government bonds is at the level of 2.84-2.85%.

The news feed on 2018.07.20:

– Reports on inflation and retail sales in Canada at 15:30 (GMT+3:00).

By JustForex, 2018.07.20

 

 

Forex market review (20/07/18)

By Veselin Petkov, Alpari

Yesterday evening, US President Donald Trump took aim at the Federal Reserve regarding its monetary policy. Trump revealed that he wasn’t thrilled with the pace of interest rate hikes as it may hinder the country’s economic growth. The Fed has already raised interest rates twice this year, with the key rate currently at 1.75 – 2%. The regulator is expected to raise rates again once or twice this year.

Today’s European and US sessions will pass without any major statistical releases. CAD traders should look out for Canadian retail sales data for May, as well as inflation data for June. These reports will both be published at 15:30 (GMT+3) today. I think that these releases have the potential to cause some serious intraday volatility on the Canadian dollar.

EURUSD:

Over the last 24 hours, the EURUSD pair has risen by around 25 pips; from 1.1641 to 1.1666. Although the euro dropped to 1.1575 against the dollar ahead of yesterday’s US session, it managed to recover its losses by the evening and return to 1.1641 on the back on Trump’s remarks.

Moving on to the chart, we can see that the potential downtrend on the EURUSD hourly timeframe is still alive and well:

We can see on the chart how the euro rebounded from the resistance line towards the trend line following Trump’s speech. I reckon that the EURUSD pair will remain within the downwards channel for the rest of the day.

I’d refrain from trading the EURUSD pair on the hourly timeframe today, because despite the downtrend, there’s no clear sell signal. What we’re currently seeing on the hourly timeframe is a correction.

Intraday Analysis 20th July 2018

By Orbex

Daily Forex Market Preview, 20/07/2018

The U.S. dollar was trading mixed on Thursday. After initially posting strong gains, the greenback eased towards the close of the day. Economic data showed that UK’s retail sales fell 0.5% on the month missing estimates of a 0.1% increase. In the U.S., the Philly Fed manufacturing index rose to 25.7 on the index-beating estimates of 21.6.

The economic data for the day ahead will see the release of the German PPI figures. Economists forecast that producer prices rose 0.3% on the month, marking a slower pace of increase compared to 0.5% registered the month before.

In the NY trading session, Canada will be releasing its inflation and retail sales figures. Headline inflation rate as measured by CPI is expected to advance 0.1% on the month, marking the same pace of increase as the month before. Retail sales are tipped to rise 1.0% on the month following a 1.2% decline the month before. Core retail sales are expected to advance 0.6% after posting a 0.1% decline in the previous month.

EURUSD intra-day analysis

EUR/USD

 

EURUSD (1.1650): The EURUSD currency pair drifted lower on Thursday as price action touched intraday lows of 1.1575. However, the currency pair managed to recover to close slightly higher from the open. The consolidation in the currency pair is expected to continue and the rebound off 1.1600 is expected to keep price action supported to the upside in the near term. The resistance at 1.1686 could be tested in the near term. A break above this level is required in order to ascertain the upside bias in the near term.

USDJPY intra-day analysis

USD/JPY

USDJPY (112.38): The USDJPY currency pair fell briefly below 112.28 support before recovering back. The rebound of this level failed to see the currency pair make any major gains. Therefore, we expect to see the U.S. dollar extending the declines against the yen. A break down below 112.28 could signal a near-term decline to the lower support at 111.13 – 110.85 regions. In the near-term, the currency pair could be seen maintaining a sideways range within the levels.

XAUUSD intra-day analysis

XAU/USD

XAUUSD (1219.86): Gold prices continued to extend the declines as price action slipped below the 1219 region. The doji candlestick on the 4-hour chart was followed by a bullish close. While price action managed to pull back from the lows, the current gains could see a move to the upside. Gold prices could be seen rallying to 1242 level of support where resistance is likely to be established. To the downside, failure to clear the 1219 region could signal further declines in gold prices which could push the price of the precious metal lower to 1200.

By Orbex

USD/JPY Ascending Trend Line Holds the Trend in Place

By Admiral Markets

Source: Admiral Markets MT5 with MT5SE Add-on

The USD/JPY lost its ground above 113.00 after US president Trump’s comments regarding rate hikes. Currently, the POC zone is 112.05-17. There is also an ascending trend line that is holding the trend in place and serves as the additional confluence. A bounce from the POC targets 112.77 and 113.07. Only above 113.20 we might see 113.60.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Article by Admiral Markets

Source: USD/JPY Ascending Trend Line Holds the Trend in Place


Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.

 

EM Currencies slide as Dollar appreciates

Article by ForexTime

Emerging market currencies have been treated without mercy by a broadly stronger Dollar, yet again.

The Dollar Index appreciated to its highest level this year above 95.50 due to heightened expectations over higher US interest rates this year. The Chinese Yuan, Malaysian Ringgit, Indonesian Rupiah, Singapore Dollar and most other major EM currencies have all felt the heat. With Dollar strength likely to remain a dominant market theme and global trade tensions negatively impacting risk sentiment, EM currencies appear destined for further punishment.

In regards to the Chinese Yuan, price action continues to suggest that the local currency remains heavily influenced by external forces. With the Yuan already weakening to a fresh yearly low, further losses could be expected amid an appreciating Dollar. Taking a look at the USDCNY, a decisive daily close above 6.750 could inspire an incline to levels not seen since June 2017 around 6.810

Dollar bulls are back in town

It has certainly been an incredibly positive trading week for the Dollar.

Federal Reserve Chairman Jerome Powell’s bullish testimony could be one of the primary drivers behind the Dollar’s appreciation, especially when considering how he reinforced expectations of higher US rates this year.

Taking a look at the technical picture, the Dollar Index has scope to venture towards 96.00 and 96.40 if bulls are able to secure a daily close above 95.00.

Commodity spotlight – Gold

Gold is poised to conclude this week in heavy losses thanks to an appreciating US Dollar.

The yellow metal remains under intense pressure on the daily charts with prices trading marginally below $1220 as of writing. With the combination of Dollar strength and prospects of higher US interest rates eroding appetite for the zero-yielding metal, Gold is firmly bearish. Sustained weakness below $1200 could inspire a decline towards $1209 and $1200, respectably.

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.


Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com