Author: forex-trader

By HY Markets Forex Blog

Stocks – Asia

Stocks in Asia began the trading week lower as equities in China head towards two-day low while data from the world’s second-largest economy revealed that the slowdown in the nation’s housing market is deepening.

The Japanese benchmark Nikkei 225 index lost 0.64% closing at 14,006.44 points, while the nation’s Topix index slid 0.60% to close at 1,152.15 points.

The Japanese financial services company, Credit Saison saw the most losses on the Nikkei 225 index with a 4.39% fall. While the electronic company, Tokyo Electron was the session’s biggest winner, climbing 5.62%.

Data  from the Cabinet Office in Tokyo showed that the core machinery orders in Japan climbed to 19.1% in March on a monthly basis, compared to the 4.6% seen in the previous month.

China

Hong Kong’s Hang Seng index fell 0.5% to 22,600.07 points at the time of writing, while the mainland Chinese Shanghai Composite lost 1.03% to 2,005.32 points.

The Chinese property developer, China Resources lost almost 2% after an official report showed that the housing market in China in April slowed down, as prices climbed in 44 out of 70 cities, compared with 56 cities in March.

The South Korean benchmark Kospi index gained 0.8% at 2,015.14 points, while the Australian S&P/ASX 200 index edged 1.15% lower, closing the session at 5,5415.90 points.

Stocks – Europe

European stocks were seen trading lower on Monday, falling from a five-week high.

The European Euro Stoxx 50 lost 0.16% trading at 3,164.50, while the German DAX edged 0.18% lower to 9,611.80 at the time of writing. At the same time the French CAC 40 opened 0.13% lower opening the session at 4,450.30, while the UK’s benchmark FTSE 100 slid 0.31% to 6,834.50.

This week, traders will be focusing on the release of a string of economic reports including, preliminary Purchasing Managers’ Indices for May from Germany, France and the Eurozone on Thursday.

Eyes will also be focused on Ukraine’s presidential elections which will take place this week.

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The post Stocks Market Report 19th May appeared first on | HY Markets Official blog.

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By HY Markets Forex Blog

Crude prices were seen trading higher on Monday as the output from Libya was reduced by a third, while traders speculate that the ongoing tension in the country will disrupt further supplies.

Futures for the North American West Texas Intermediate (WTI) for June delivery climbed 0.64% higher to $102.24 a barrel on the New York Mercantile Exchange at the time of writing. While the European Brent crude for June settlement rose 0.24% to $110.13 on the ICE Europe Futures exchange at the same time.

Crude – Libya Output

Libya is the holder of Africa’s biggest oil reserves and a member of the Organization of Petroleum Exporting Countries (OPEC) and is struggling to handle the ongoing violence which has been weighing on the nation’s supplies.

On Sunday, armed gunmen stormed the country’s parliament, testing the government’s security three years after Muammar Gaddafi was overthrown.

Libya oil’s production dropped to 200,000 barrels per day, compared to 300,000 barrels per day recorded last week, according to analysts.  Libya’s output levels were at 1.4 million barrels per day last year.

Russia energy Exports

Tensions between Ukraine and Russia, the world’s largest energy exporters, are among factors that could keep the Brent above the $100 a barrel level. Russia said it will not supply gas to Ukraine in June unless the country pays in advance, which could weigh on demand for oil and supplies from other European countries.

Ukraine’s presidential election which is scheduled for May 25 will one of the main focuses for investors this week, with escalated protests expected.

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The post Crude Prices Climbs on Libya Violence appeared first on | HY Markets Official blog.

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CHF/JPY continues to fall strongly after the recent breakout of the daily Triangle from last December. The breakout of this Triangle accelerated the C-wave of the currently active intermediate ABC correction (2) from March (as you can see from the daily CHF/JPY chart below).

This C-wave recently broke down below the support level 115.00 (which created the bottom of the previous A-wave of the currently active ABC correction). CHF/JPY is trading close to the support trendline from last June. If the price breaks this trendline, CHF/JPY can fall to the next sell target 112.00.

The post HY MARKETS News: Forex Report: CHF/JPY appeared first on | HY Markets Official blog.

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FTSE 100 recently reversed down after nearly reaching the resistance level 6900.00 that was set as the buy target in our earlier report for this index.

The index immediately reversed down from 6900.00 and can be expected to correct further down to the support level 6800.00 (the lower border of the former strong resistance zone – acting as support now after it was broken at the start of this month, as you can see from the daily FTSE 100 chart below). FTSE 100 is likely to reverse up from 6800.00 to retest the earlier buy target at 6900.00.

The post HY MARKETS News: Index Report: FTSE 100 appeared first on | HY Markets Official blog.

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Brent Crude Oil has been rising strongly in the last few trading sessions – in line with our earlier forecast for this instrument. Brent Crude Oil recently broke the upper resistance trendline of the daily Triangle from the start of March.

The price is currently approaching the next resistance trendline – belonging to the longer-term down channel from last December (standing close to the resistance level 110.60, the top of the previous impulse wave (i)). If Brent Crude Oil breaks above 110.60 – it can be expected to rise further to the next buy target 112.00.

The post HY MARKETS News: Commodities Report:Brent Crude Oil appeared first on | HY Markets Official blog.

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Exxon recently reversed down from the resistance zone near the buy target 104.00 that was set in our earlier technical analysis report for this company. The resistance zone near 104.00 was strengthened by the upper daily Bollinger Band and the upper resistance trendline of the daily accelerated up channel from March.

The downward reversal from this resistance area created the strong Japanese candlestick reversal pattern – the double-Doji Evening Star. Exxon can correct further down to 100.00 – form where the upward reversal is likely toward 102.00.

The post HY MARKETS News: Stocks Report: Exxon Mobil Corporation appeared first on | HY Markets Official blog.

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By CentralBankNews.info

Technical Sentiment: Bearish

Key Takeaways

• Cable will remain slow until the CPI, Producer Price Index and Retail Price Index releases on Tuesday;
• 1.8000 is the key level to be watched today and tomorrow.

Last week Cable rallied against the Australian Dollar before price had a chance to touch the 200-Day Simple Average, only to end the rally right on the 1.8000 handle. The technical bias remains bearish below this, yet the landscape could drastically change on a bullish break-out if U.K.’s economic indicators do not disappoint.

Technical Analysis

GBP/AUD mustered the strength to form a Higher Low last week on the Daily time frame. If this Low at 1.7830 remains intact and the pair continues above 1.8000, traders who are positioned for a deeper downtrend continuation will have an unpleasant surprise in the coming weeks.

No wonder the market has shown a lot of restrain around 1.8000 in the last trading days, as this line appears to be the separation point between bullish and bearish territory. The 50 and 200 Simple Moving Averages are located in this area on the 4H time frame, together with 38.2% Fibonacci Retracement from May’s High of 1.8293 down to last week’s Low of 1.7830 and the resistance trendline for this particular bearish movement.

On the Daily chart Stochastic is exiting oversold territory; consequently a bullish break-out could grind higher for a decent period before the pair enters overbought conditions. The first resistance above 1.8000 is the pivot zone at 1.8047, followed by 61.8% Fibonacci Retracement at 1.8116 and ultimately May’s top at 1.8293.

If by the end of tomorrow GBP/AUD fails to break above 1.8000, then the pair will remain in bearish territory leading to a proper test of the 200-Day Moving Average and possibly even 1.7735.

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Prepared by Alexandru Z., Chief Currency Strategist at Capital Trust Markets

The Senior Strategist with his outlook for the week ahead.

Markets will navigate a series of economic reports while traders worry the lowest bond yields in 2014 could sting stocks. Should we be worried?

Wednesday we can look forward to Fed-minutes, and Thursday we have the Flash PMIs from China, Europe and the US.

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