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Date : 30th June 2021.

Market Update – June 30 – Gold at its worst monthly drop.


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Jitters over the rapid spread of the more infectious Delta variant seem to be receding and Treasury yields have moved higher overnight, as equity markets across the Asia-Pacific region gained after US shares touched record highs yesterday, but pared gains into the close.

Hopes that vaccines will be effective mean investors are sticking with the recovery story after strong US data yesterday boosted economic optimism.

JPN225 is currently down by 0.13%, with a disappointing contraction in industrial production weighing on sentiment. China official PMI readings also eased, however, the slowing in the pace of expansion is not a surprise given supply chain disruptions around the world, though the data continued to suggest China’s recovery remains on pace. Cyclicals rallied, while Bank stocks were mostly higher following announced dividend increases and stock buybacks. Improved consumer confidence and a year over year surge in home prices supported equities at the margins. Wall Street closed slightly higher yesterday, with indexes touching new highs. GER30 and UK100 futures are also fractionally higher.

UK Q1 GDP revised down to -1.6% q/q in the final reading, from -1.5% q/q previously. The annual rate was confirmed at -6.1% y/y. Private consumption corrected -4.6% q/q, reflecting mainly the impact of a relatively strict lockdown that quarter. Government spending rose 1.5% q/q, while exports slumped -6.1% and imports -13.5%. Investment contracted less than initially feared, but was still down -1.7% q/q, although at this point and with the economy heading for a full re-opening in July and already pretty much on track for a strong rebound thanks to vaccination programs, the Q1 number doesn’t really change the overall picture or outlook.

Forex Market: USDJPY is at 110.46, after the Dollar firmed on haven demand. The Australian and NZ Dollars are under pressure so far, USDJPY has steadied above 110.40 while the EUR steadied above 1.1890. The Pound declined to 1.3810 lows and is currently settled at the 1.3850 area. USOIL meanwhile lifted to USD 73.42 per barrel after an industry report showed US crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as COVID-19 cases surge. Gold is down 7.8% so far this month, and heading for its worst monthly drop since November 2016.

Today’s Calendar – Markets are also keeping a close eye on signals from central banks and in particular the Fed, after strong consumer confidence readings out of the US yesterday. Today’s calendar focuses on German jobless numbers and of course the preliminary reading for Eurozone June HICP, Canadian GDP and US ADP employment change.

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Significant FX Mover @ (06:30 GMT) GBPUSD retests the 1,3800 area for a 2nd day in a row wıth faster MAs bullishly crossed and RSI at 37 and pointing lower. MACD signal line and histogram are negatively configured, while Stochastic turned below OS barrier, all suggesting that the short term decline continues.

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.


Click HERE to access the full HotForex Economic calendar.

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. Click HERE to register for FREE!

Click HERE to READ more Market news.

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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Date : 2nd July 2021.

Market Update – July 02.


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Wall Street was narrowly mixed again overnight, as investors sat on their hands ahead of the upcoming June jobs report. Data on ISM manufacturing, jobless claims, and construction spending was ignored in favor of the more crucial employment numbers on the horizon.
 
Also yesterday, according to FT, the world’s leading economies have signed up to a plan to force multinational companies to pay a global minimum corporate tax rate of at least 15% following intense negotiations in Paris at the OECD. The historic agreement among 130 countries will ensure the largest companies, including Big Tech, pay at least $100bn a year more in taxes, with more of that money going to the countries where they do most of their business.
The USA500 did manage another record high, with the USA30 in the green too as value shares were favored. The USA100 was largely flat. Stock markets in Japan and Australia managed to move slightly higher, though, while China bourses sold off with some commentators suggesting that the conclusion of the centennial celebrations for the Communist Party meant increased risks for markets.

In Europe, core exchanges rose, with the UK100 adding 1.25%, and the GER30 rallying 0.47%. Comments from ECB’s Lagarde suggesting that the current cap on dividends and share buybacks for banks could be lifted at the end of September helped underpin sentiment. Also:
 
  • Fed’s Harker (non-voter) backs tapering.
  • ECB’s Weidmann backs symmetrical inflation target for the ECB.
Dovish comments from BoE’s Bailey, who stuck to the view that inflation will be transitory, added support, although they didn’t prevent Gilts from underperforming versus Bunds, with the former up 1.4 bps to 0.728%, and the latter 0.7 bps higher at -0.203%. Hopes that the impact of the rapidly spreading Delta variant won’t prevent the projected re-opening of holiday travel, while also keeping central banks in supportive mode, helped peripheral stock and bond markets.

Forex Market: USDIndex edged up to 92.60, and USDJPY is at 111.65, while the USOIL future is at $75.22per barrel. The Australian and NZ Dollars hold at Q4 2020 lows, while the EUR slipped to 1.1834 from 1.1888. Gold sustains gains at the 1779 area.

As Soc Gen accurately notes, US 2y rates are driving the Dollar. “The challenge for the FX market is that with no rate on the cards for over 12 months, expectations about what the Fed will do are bound to move around with each and every major economic statistic. All eyes, then, are on payroll data and if they come in strong, the dollar bears are going to get squeezed.”

Today’s Calendar  ECB’s Lagarde is scheduled to speak today, but likely to repeat the familiar line that the crisis is not over and support is still necessary. At the same time we will see US labor market data.

US nonfarm payrolls preview: nonfarm payrolls are expected to rise 550k in June following increases of 559k in May and 278k in April as there continues to be a big gap between the strength in the recovery and the record high in job openings against the relatively slow return of workers amid various headwinds. We’re also forecasting a 35k jump in factory jobs. The work-week should hold steady at 34.9 while hours worked picks up 0.4%. The unemployment rate is seen dipping to 5.6%. Average hourly earnings are projected rising 0.2% as minimum wage workers have been slow to come back. However, the y/y wage gain should surge to 3.5% from 2.0%, with a big boost from base effects.

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Significant FX Mover @ (06:30 GMT) USDZAR(+0.54%) extending highs for 2 days in a row, above the June high and the 50% retracement level since the February downleg. MACD lines and RSI are positively configured.

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.


Click HERE to access the full HotForex Economic calendar.

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. Click HERE to register for FREE!

Click HERE to READ more Market news.

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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Date : 5th July 2021.

Market Update – July 5 – USD subdued, Bonds leap & Stocks hold gains.


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Market News Today – The Dollar weakened, Bonds & Stocks rallied following NFP (850k vs 700k but an uptick for Unemployment & patchy Earnings) and ahead of long weekend. Asian markets follow through overnight – but big miss for Chinese Services PMI’s virus developments and China’s bid to curb the influence of internet giants quells the rally. Yields; the biggest driver – 10yr lost -3.31%, 5yr -4.77% & 30yr -1.97%. USDIndex holds 92.30, USA 500 4352. (Tech stocks lead rally (GOOGL+2.30%) Overnight AUD building approvals weaker but Retail Sales better. EUR 1.1855, JPY down to 111.00 & Cable tests up to 1.3835. Gold still rotates at $1785, USOil Holds over $74.00 at 74.35 as OPEC issues rumble on.

Week Ahead – FOMC Minutes, RBA Rate Decision, ECB Growth Forecasts & Special Strategy Meeting.

European Open – The September 10-year Bund future is fractionally higher, while in cash markets the 10-year Bund yield is unchanged at -0.24%. Other Eurozone bond markets are underperforming in early trade, while U.S. markets remain closed today for the observance of July 4 Independence Day. DAX and FTSE 100 futures are up 0.03% and 0.106% respectively, suggesting a cautious start to trading today. US Stock FUTS in the red so far.

Today – OPEC developments continue as the UAE and Saudi disagree over quotas; – EZ & UK PMIs (Final) ECB speak and US Independence Day.

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Biggest Mover @ (06:30 GMT) Copper (+1.59%) Rallied from 4.222 lows on Friday to test 4.350 (20-day MA) today. Faster MAs aligned higher, RSI 73.50 OB but still rising, MACD signal line and histogram rising remain significantly above 0 line. Stochs rising and also in OB zone. H1 ATR 0.0150 Daily ATR 0.0950.

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.


Click HERE to access the full HotForex Economic calendar.

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. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
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.
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Date : 6th July 2021.

Market Update – July 6 – A weaker USD; RBA, OPEC & Kiwi hog the headlines.


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Market News Today  USD continued to weaken, strong EZ & UK data lifted European markets, England to lift most restrictions by July 19. OPEC meeting abandoned, OIL prices hit 3-year high (Brent $77+). Overnight RBA no change but bond purchases extended for 6 months but at lower rate, “conditions will not be met before 2024.” NZD rallied (1.14%) on strong data and 2021 interest rate rise expectations, dragging AUD higher (0.98%). Asian equities firmer. USDIndex under 92.00, EUR 1.1890, JPY under 111.00 at 110.75 & Cable tests up to 1.3900. Gold breaches $1800, USOil over $75.00 at $75.85. German manufacturing orders missed significantly (-3.7%) but previous reading was revised sharply higher (+1.2%).

Week Ahead – FOMC Minutes, RBA Rate Decision, ECB Growth Forecasts & Special Strategy Meeting.

European Open – The September 10-year Bund future is slightly lower, as are US futures, while in cash markets the US 10-year rate has lifted 2.0 bp to 1.444%. Dax & FTSE100 FUTs are weaker on stronger GBP & EUR with German data weighing.

Today – EZ & UK Construction PMI, German ZEW, US Final Services & Composite PMI, ISM Services PMI, ECB’s de Cos, de Guindos. Day 1 of the ECB Strategy Review meeting.

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Biggest FX Mover @ (06:30 GMT) NZDUSD (+1.06%) Rallied from 0.7020 zone yesterday, which was up from Fridays NFP low of 0.6945, to breach 0.7100 on very strong reversal in business confidence today. Faster MAs aligned higher, RSI 82.38 and significantly OB but cooling, MACD signal line and histogram rising remain significantly above 0 line. Stochs. also in OB zone, but also cooling. H1 ATR 0.0015 Daily ATR 0.0065.

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.


Click HERE to access the full HotForex Economic calendar.

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. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
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.
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Date : 7th July 2021.

Market Update – July 7 – Yields drive markets lower, USD Consolidates.


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Market News Today  USD consolidates on safe-haven bid, Bonds rallied/Yields dived, Nasdaq hit another ATH & Oil crashed. Chinese regulators flexed their muscles again & a surprise miss for ISM Services PMIs weighed on sentiment. Asian equities mixed. USDIndex up to 92.50, EUR slips to 1.1825, JPY holds under 111.00 at 110.70 & Cable tested under 1.3800. Gold holds $1800, down from $1814, USOil tanked from $77.00 to $72.00, trades at $72.90 now; what next for OPEC? 10yr yields dived to 1.348%. German industrial production dropped -0.3% vs expectations of +0.5%.

Week Ahead – FOMC Minutes, RBA Rate Decision, ECB Growth Forecasts & Special Strategy Meeting.

European Open – The September 10-year Bund future is slightly lower, while U.S. futures have found support. In cash markets the U.S. 10-year yield has moved up from lows, but at 1.36% remains below the 1.4% mark, underpinning the sense that the Fed will be able to wait before embarking on tapering action. Investors will be looking ahead to today’s release of the FOMC minutes for the June policy meeting, which could give a clearer sense on how far advanced taper talks really are. In Europe, the focus today will be on the EU Commission’s updated set of forecasts, which are likely to be more optimistic on growth, but also bring upward revisions to inflation projections. DAX & FTSE Futures a tad higher in early trades.

Today  EU Forecasts, FOMC Minutes, Fed’s Bostic.

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Biggest FX Mover @ (06:30 GMT) NZDJPY (+0.35%) Rallied from 77.30 lows yesterday to breach 77.50 to 77.80 highs. Faster MAs aligned higher, RSI 51.70 & rising, MACD signal line & histogram remain significantly below 0 line, but rising. H1 ATR 0.0015, Daily ATR 0.0065.

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.


Click HERE to access the full HotForex Economic calendar.

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. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
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.
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EUR/USD Price Analysis: Bearish momentum unmarked below 1.1800

In general, EUR/USD is moving downwards. As of late, EUR/USD broke the support zone of 1.18500. EUR/USD stayed under predictable selling tension for June month. The pair broadened the earlier month’s decays and invigorated multi-month lows close to 1.1781 in the previous day. EUR/USD bears would test the 1.1720 flat level followed by the low of March 31 near the 1.1700 regions. On the other hand, on the off chance that the cost can support the 1.1800 key mental imprints, it could switch back to the earlier day’s high at 1.1836. The European Central Bank will be delivering the minutes for its new money-related arrangement meeting later at 1930 (GMT+8). EUR/USD’s next support zone is at 1.16300 and the following resistance zone is at 1.18500. Search for selling chances of EUR/USD.

GBP/USD: WEDNESDAY’S DOJI BOTHERS BULLS AROUND 1.3800

GBPUSD is profiting with potential gain energy on the four-hour outline, and the pair has been setting higher highs and higher lows. Notwithstanding, it exchanges underneath the 50, 100, and 200 straightforward moving midpoints. With everything taken into account, the image is blended. By and large, GBP/USD is moving downwards. Right now, GBP/USD is trying the support zone of 1.38000 and the following resistance zone is at 1.40000. GBP/USD remains sidelined close to 1.3800 amid Thursday’s Asian meeting, following an unstable day that denoted a candle recommending pattern inversion. The chances of the pair’s up-moves likewise advantage from the moves past 200-DMA, just as inside the falling wedge bullish outline design. Search for selling chances of GBP/USD if it breaks the support zone of 1.38000.

USD/JPY STAYS AIMLESS CLOSE TO 110.60 AS US TREASURY YIELDS PLUNGE

Generally speaking, USD/JPY is moving upwards. As of late, USD/JPY broke the support zone of 110.800. USD/JPY battles to discover any heading on Thursday in the Initial Asian meeting. The pair keeps on trusting in a tight exchanging range with no significant foothold. Yen gains on the idealistic monetary projection and COVID-19 resurgence worldwide. The USD/JPY pair recuperates some ground, right now exchanging the 110.70 value zone. Monetary business sectors balanced out in front of the arrival of the FOMC Meeting Minutes, Earlier today, it was accounted for that Japan is suggesting announcing an infection highly sensitive situation in Tokyo from 12 July to 22 August. USD/JPY’s next support zone is at 108.500 and the following resistance zone is at 110.800. Search for momentary selling chances of USD/JPY.

AUD/USD BEARS ASSAULT YEARLY LOW CLOSE 0.7450 ON RBA’S LOWE

In general, AUD/USD is moving downwards. Presently, AUD/USD is trying the support zone of 0.75000 and the following resistance zone is at 0.76500. AUD/USD stays on the back foot for the third successive day, down 0.38% intraday around 0.7455, as RBA Governor Philip Lowe applies extra disadvantage tension on the statement during early Thursday. In doing as such, the pair revives week by week low, while heading to yearly box, as the Coronavirus troubles likewise substantial the pair. AUD/USD bears cheer supported exchanging under a three-week-old resistance line and 200-DMA, separately around 0.7500 and 0.7580 while heading to the yearly base close to 0.7445, stamped last week. Be that as it may, any further shortcoming will be addressed by August 2020 top near 0.7415 and the 0.7400 edges. Search for transient buying chances of AUD/USD it skips off the support zone of 0.75000.

Read More : Daily & Weekly Analysis on XtreamForex

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Date : 8th July 2021.

Market Update – July 8 – USD & JPY on Bid as Risk Off Raises its Head.


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Market News Today – USD at 3-month highs, Bonds rallied/Yields dived, Nasdaq & S&P hit another ATH. Seem familiar? FOMC minutes showed “Hawkish Tilt” & some members up for tapering as early as this year – conditions could be “met somewhat earlier than anticipated”. Asian equities down as risk off bites on Virus spikes, with Sydney, Indonesia and South Korea mixed. USDIndex up to 92.82 yesterday – 92.70 now, EUR slips under 1.1800, JPY down to 110.25 & Cable under 1.3800 at 1.3775. Gold holds $1800, down from $1808, USOil down again at $71.15 now; what next for OPEC? 10yr yields dived under 1.300%.

Overnight – RBA’s Lowe acknowledged QE will be required for foreseeable future, strong UK housing data, better data from JPY & German Trade balance missed expectations.

Week Ahead – FOMC Minutes, RBA Rate Decision, ECB Growth Forecasts & Special Strategy Meeting.

European Open
 – The September 10-year Bund future is higher, the 30-year outperforming, similar to developments in US futures. Yields continue to fall and curves flatten as markets adjust their tapering and central bank expectations amid the realization that the initial bounce back in activity is starting to level off – high levels and capacity constraints limiting the scope for a further acceleration in growth. In cash markets the US 10-year rate dropped back a further -1.2 bp to just 1.304%, and the German 10-year is set to fall further below the -0.3% mark. DAX and FTSE100 futures meanwhile are down -0.1% and -0.4% respectively and US futures are also in the red.

Today – ECB Minutes, Strategy Review Announcement and Lagarde Press Conference, US Initial & Continuing Unemployment Claims.

2021-07-08_09-53-39.jpg

Biggest FX Mover @ (06:30 GMT) NZDJPY (-0.96%). Rallied to 78.00 highs yesterday before closing at 77.60. Move lower today on JPY bid, under 77.00. Faster MAs aligned lower, RSI 26.70 OS and still falling rising, MACD signal line & histogram remain significantly below 0 line & falling. H1 ATR 0.0015, Daily ATR 0.0065.

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.


Click HERE to access the full HotForex Economic calendar.

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. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
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.
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EUR/USD: Keeps skip off eight-month-old support around 1.1850

The EUR/USD pair keeps up with the harsh tone notwithstanding the intraday recuperation. The 4-hour diagram shows that the pair settled a couple of pips over a somewhat bearish 20 SMA, while the more drawn out ones keep up with their solid bearish slants well over the current level. Specialized markers recuperated from the week after week lows. As of late, EUR/USD moved into the resistance zone of 1.18500. European Central Bank President Lagarde will be talking later at 1800 (GMT+8). During this time, there might be volatility in EUR.

Read Full News : Daily & Weekly Analysis on XtreamForex

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Date : 8th July 2021.

Market Update – July 8 – USD & JPY on Bid as Risk Off Raises its Head.

 
daily-market-update-696x364.png


Market News Today – USD at 3-month highs, Bonds rallied/Yields dived, Nasdaq & S&P hit another ATH. Seem familiar? FOMC minutes showed “Hawkish Tilt” & some members up for tapering as early as this year – conditions could be “met somewhat earlier than anticipated”. Asian equities down as risk off bites on Virus spikes, with Sydney, Indonesia and South Korea mixed. USDIndex up to 92.82 yesterday – 92.70 now, EUR slips under 1.1800, JPY down to 110.25 & Cable under 1.3800 at 1.3775. Gold holds $1800, down from $1808, USOil down again at $71.15 now; what next for OPEC? 10yr yields dived under 1.300%.

Overnight – RBA’s Lowe acknowledged QE will be required for foreseeable future, strong UK housing data, better data from JPY & German Trade balance missed expectations.

Week Ahead – FOMC Minutes, RBA Rate Decision, ECB Growth Forecasts & Special Strategy Meeting.

European Open
 – The September 10-year Bund future is higher, the 30-year outperforming, similar to developments in US futures. Yields continue to fall and curves flatten as markets adjust their tapering and central bank expectations amid the realization that the initial bounce back in activity is starting to level off – high levels and capacity constraints limiting the scope for a further acceleration in growth. In cash markets the US 10-year rate dropped back a further -1.2 bp to just 1.304%, and the German 10-year is set to fall further below the -0.3% mark. DAX and FTSE100 futures meanwhile are down -0.1% and -0.4% respectively and US futures are also in the red.

Today – ECB Minutes, Strategy Review Announcement and Lagarde Press Conference, US Initial & Continuing Unemployment Claims.
 
2021-07-08_09-53-39.jpg


Biggest FX Mover @ (06:30 GMT) NZDJPY (-0.96%). Rallied to 78.00 highs yesterday before closing at 77.60. Move lower today on JPY bid, under 77.00. Faster MAs aligned lower, RSI 26.70 OS and still falling rising, MACD signal line & histogram remain significantly below 0 line & falling. H1 ATR 0.0015, Daily ATR 0.0065.

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.


Click HERE to access the full HotForex Economic calendar.

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. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
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.
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EUR/USD: somewhat more downwards first or up she goes

Generally, EUR/USD is moving downwards. In the minutes for the past money-related arrangement meeting delivered last Friday, it was expressed that the national bank council individuals examined a cut in quantitative facilitating during their 10 June getting amid the picked-together speed of the continuous monetary recuperation. This prompted the reinforcement of EUR. According to an hourly viewpoint, there has been a critical remedy of the most recent bullish drive which leaves bulls at the edge of their seats checking for an ideal section highlight get the following wave to the potential gain. Eurogroup gatherings will be held today. There might be volatility in EUR. EUR/USD’s next support zone is at 1.18200 and the following resistance zone is at 1.20000. Search for momentary buying chances of EUR/USD.

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Date : 12th July 2021.

Market Update – July 12 – A cautious start for equities.


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Market News Today  Wall Street ended the week in a positive mood & investors continue to buy equities at the start of this week. Hopes of ongoing central bank support are supporting the long end as virus developments see investors trim growth & inflation expectations. China’s central bank cut the reserve requirement ratio, as flagged in advance last week. The liquidity sensitive ChiNext saw the highest level since June 2015 & the offshore yuan nudged higher. Japanese markets outperformed; JPN225 gained 2.2%.

Japan core machine orders jumped 7.8% m/m in May, much more than anticipated & the third straight month of improvement, despite tightening virus restrictions. Virus developments continue to impact the annual rate, but the sharp acceleration in the monthly rate compared to the 0.6% m/m rise in April is encouraging.

The 10-year Bund is swinging between gains & losses, while peripheral bonds are moving higher & spreads narrow. Curves are flattening as the long end outperforms. Equities meanwhile are finding a footing & GER30 is fractionally higher after paring earlier losses. UK100 is still in the red but up from earlier lows, USA100 future is also marginally higher, indicating that investor appetite has already turned cautious again as markets keep a very close eye on virus developments as the Delta variant spreads through Europe. The latest surge started in the UK, which continues to see very high daily infection numbers & now also a pick up in hospitalisations. Germany’s numbers remain much, much lower, but have also started to creep higher amid concern that developments will derail plans to re-open much of Europe for the summer.

Overall, we don’t expect the recovery to be derailed & that should see yields creeping higher at some point, even if central banks remain very cautious for now.

Today – It will be a slow start to the week, with a lack of key releases and likely focus on virus developments. The earnings season also kicks off with JPMorgan, Goldman, Citigroup and Wells Fargo.

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Biggest FX Mover @ (07:00 GMT) XAUUSD (-0.40%). Gold prices eased on Monday as a slightly stronger dollar and buoyant equities dimmed the safe-haven metal’s appeal.

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.


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Click HERE to READ more Market news.

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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EUR/USD progresses towards 1.1900 on ECB’s tightening assumptions

Generally speaking, EUR/USD is moving downwards. EUR/USD’s next support zone is at 1.18200 and the following resistance zone is at 1.20000. EUR/USD prints minor increases on Tuesday morning’s Asian meeting. The pair faces solid dismissal close to the day-by-day highs around 1.1880. The EUR/USD pair is impartial in the close to term, with a diminished bullish potential. In the 4-hour graph, the cost is creating between a somewhat bullish 20 SMA beneath the current level and a level 100 SMA restricted the potential gain. The Momentum marker withdraws from highs and is ready to cross into negative levels, while the RSI is level at around 54. Every day low is quick support, with the bearish case becoming firmer on a break underneath 1.1795. At the hour of composing, the EUR/USD pair is trading at 1.1865, up 0.05% for the afternoon. Search for momentary buying chances of EUR/USD.

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EUR/USD recovered from a new three-month low, the danger stays slanted to the disadvantage

By and large, EUR/USD is moving downwards. As of late, EUR/USD climbed into the resistance zone of 1.18200. Right now, EUR/USD is trying the resistance zone of 1.18200 and the following support zone is at 1.16300. The EUR/USD pair exchanges close to every day high heading into the Asian opening, in spite of the fact that its close term bullish potential is restricted.

The 4-hour graph shows that a somewhat negative 20 SMA covered advances, actually creating underneath the more extended ones. Specialized pointers recuperated from intraday lows yet lost their vertical strength inside beneath their midlines. The danger stays slanted to the drawback as long as it holds beneath 1.1920, a static Fibonacci resistance level. Search for momentary buying chances of EUR/USD on the off chance that it breaks the resistance zone of 1.18200.

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EUR/USD blurs remedial pullback close 1.1800

Generally, EUR/USD is moving downwards. Presently, EUR/USD is trying the resistance zone of 1.18200 and the following support zone is at 1.16300. Search for momentary buying chances of EUR/USD on the off chance that it breaks the resistance zone of 1.18200. The EUR/USD pair holds around the 1.1800 level and is in danger of falling further.

The 4-hour graph shows that the pair continues creating beneath negative moving midpoints after a bombed endeavor to run past the 20 SMA. The Momentum pointer propels while the RSI sits tight, both inside adverse levels. The pair set a three-month low at 1.1771, the level to break to affirm another leg south.

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EUR/USD prints falling wedge around key support line close 1.1800

Generally, EUR/USD is moving downwards. As of late, EUR/USD neglected to break the resistance zone of 1.18200 because of a worldwide worry in a bounce-back in COVID cases. The EUR/USD pair holds the negative position notwithstanding bobbing from its intraday low. The Momentum pointer recuperated inside regrettable levels, however, the RSI marker unites around 44, all of which favor another leg south.

Presently, EUR/USD is moving towards the resistance zone of 1.18200 and the following support zone is at 1.16300. Search for momentary selling chances of EUR/USD if it ricochets off the resistance zone of 1.18200.

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EUR/USD: BEARS NEED FUEL, BULLS NEED 1.1840 BREAKOUT

Generally, EUR/USD is moving downwards. As of late, EUR/USD bounced down from the critical resistance of 1.18. At present, EUR/USD is climbing towards the vital degree of 1.18. Its next support zone is at 1.16300 and the following resistance zone is at 1.18200. The EUR/USD pair is posting lower lows consistently, and the close term picture is as yet negative.

The more extended moving midpoints keep up with their negative slants well over the more limited ones, while specialized markers unite inside adverse levels. The pair needs to recuperate past 1.1840 to disregard the negative position, very impossible in front of the ECB’s financial approach choice on Thursday. Search for selling chances of EUR/USD on the off chance that it ricochets down from the critical resistance of 1.18.

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EUR/USD: IMPENDING PASSING CROSS PRODS BEARS AROUND 1.1800 ON ECB DAY

Generally speaking, EUR/USD is moving downwards. As of late, EUR/USD bounced down from the critical degree of 1.18. EUR/USD’s next support zone is at 1.16300 and the following resistance zone is at 1.18200. On the off chance that the ECB conveys a hopeful tone on how the new approach will be advantageous, search for momentary buying chances of EUR/USD on the off chance that it breaks the resistance zone of 1.18200.

EUR/USD’s next support zone is at 1.16300 and the following resistance zone is at 1.18200. If the ECB conveys an idealistic tone on how the new approach will be gainful, search for momentary buying chances of EUR/USD if it breaks the resistance zone of 1.18200.

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EUR/USD: SEESAWS INSIDE A MONTH TO MONTH FALLING WEDGE UNDERNEATH 1.1800

The EUR/USD pair trades at the lower end of its week after week range, negative in the close to term. The 4-hour diagram shows that the pair planned to break over the top of the relative channel that guides cost since June. The pair beat around a somewhat negative 100 SMA, presently creating beneath the entirety of its moving midpoints. Specialized pointers solidify inside bad levels, slanting the danger to the drawback without affirming another leg south. EUR/USD is moving downwards.

As of late, EUR/USD bounced off the resistance zone of 1.18200. Right now, EUR/USD is moving towards the following resistance zone of 1.18200 and the following support zone is at 1.16300. Search for selling chances of EUR/USD if it dismisses the resistance zone of 1.18200. Despite a pullback from a 3-1/multi month top, the greenback finished the day higher against a larger part of its friends in hectic trades on Thursday on hosed hazard hunger. Euro fell no matter how you look at it on ECB’s hesitant hold.

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EUR/USD RECOVERS 1.1800 IMPRINTS AMID USD WEAKNESS

In general, EUR/USD is moving downwards. As of late, EUR/USD moved into the resistance zone of 1.18200. The EUR/USD pair floats around 1.1800 in front of the Asian opening and has space to expand its development. The 4-hour outline shows that it is right now a modest bunch of pips over the top of a day-by-day relative channel coming from June 25, while buyers protected the disadvantage around a somewhat bullish 20 SMA.

Then again, negative 100 SMA restricted the potential gain. Specialized markers had lost directional strength subsequent to entering a positive area, showing that purchasers are as yet hesitant to add. At present, EUR/USD is trying the resistance zone of 1.18200 and the following support zone is at 1.16300. Search for selling chances of EUR/USD on the off chance that it dismisses the resistance zone of 1.18200.

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EUR/USD: BULLS KNOCK THE DOOR AHEAD OF FED

EUR/USD acquired almost 40 pips yesterday to close approach 1.1800. Notwithstanding, the pair appears to not be able to pass the 1.1800 resistance zone and indeed trading lower at 1.1780. The 1.1800 is going about as a solid resistance region while different supports are available at 1.1822 and 1.1839. The intraday support levels are at 1.1766 and 1.1742. On the intraday diagrams, the cost dropped from the SMA-14 resistance line which is at 1.1805. The SMA-50 is demonstrating resistance at 1.1983.

The mid-Bollinger band is at 1.1815 while the upper and lower groups are at 1.1884 and 1.1747 individually. The RSI is at 39 and demonstrates a further negative move. Following the intraday value design and breaking down the close-by resistance zones the pair is ideal for selling sections.

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EUR/USD: PORTRAYS NEGATIVE SET-UP ON D1 BENEATH 1.1900

Generally speaking, EUR/USD is running across. As of late, EUR/USD neglected to break over the vital resistance of 1.19. The eurozone swelling information delivered last Friday demonstrated feature yearly expansion in July keep on increasing at a higher rate while center swelling declined marginally. The EUR/USD pair is impartial to-bullish in the everyday graph, even though under a basic Fibonacci level at 1.1920.

The day-by-day outline shows that it is progressing over a level 20 SMA, at present offering dynamic help at around 1.1820. The jobless rate additionally declined. Generally speaking, the eurozone economy is gaining acceptable headway in its recovery. EUR/USD’s next support zone is at 1.18200 and the following resistance zone is at 1.20000. Search for momentary buying chances of EUR/USD.

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EUR/USD treads water below 1.1900 despite US Treasury yields rebound

EUR/USD is running across. As of late, EUR/USD skipped down from the critical degree of 1.19.Euro/dollar appreciates potential gain force on the four-hour outline and is exchanging over the 50, 100, and 200 Simple Moving Averages. It has solidified its benefits in the wake of hitting a one-month high and could be preparing another transition to the potential gain. Resistance anticipates at 1.1905, which was July’s pinnacle.

It is trailed by 1.1950, 1.1975, and 1.2015, all levels that assumed a part in June. EUR/USD’s next support zone is at 1.18200 and the following resistance zone is at 1.20000. Search for buying chances of EUR/USD.

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EUR/USD consolidates near 1.1870 ahead of EU Retails Sales data

EUR/USD is running across. The EUR/USD pair has lost its bullish potential in the close term. The 4-hour graph shows that it has broken underneath its 20 SMA, which turned level. Additionally, the pair lined for the day around its 200 SMA, as of now at 1.1850. Meanwhile, specialized markers hold close to their midlines, with the Momentum recuperating some ground yet beneath its midline and the RSI heading lower at around 50.

The pair has a quick help level at 1.1840, with expanded negative potential once underneath it. EUR/USD’s next support zone is at 1.18200 and the following resistance zone is at 1.20000. Search for buying chances of EUR/USD.

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EUR/USD: 10-DMA tests corrective pullback above 1.1800

In general, EUR/USD is running across. As of late, EUR/USD weakened and bounced down from the critical resistance of 1.19 get-togethers hawkish comments on QE tightening conveyed by FOMC panel individuals. The EUR/USD pair traded around 1.1840 in front of the Asian opening and is in danger of falling further.

The 4-hour outline shows that it is at present trading beneath the 20 and 200 SMA, while it holds over the 100 SMA, every one of the aimless. Presently, EUR/USD is moving towards the support zone of 1.18200 and the following resistance zone is at 1.20000. Search for temporary selling chances of EUR/USD on the off chance that it breaks the support zone of 1.18200.

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EUR/USD: Teases 21-DMA support inside a falling channel

Generally, EUR/USD is running across. The EUR/USD pair is in danger of falling further, as per intraday specialized readings. The 4-hour graph shows that specialized pointers stay aimless inside bad levels. Simultaneously, the pair is exchanging between aimless 100 and 200 SMAs, while under a negative 20 SMA. At present, EUR/USD is trying the support zone of 1.18200 and the following resistance zone is at 1.20000.

On the off chance that EUR/USD breaks the support zone of 1.18200, search for momentary selling chances of EUR/USD up until the arrival of the U.S. Non-Farm Payroll occupations report at 2030 (GMT+8).

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