Profile cover photo
Profile photo
JustForex Broker
148 followers -
Forex Broker
Forex Broker

148 followers
About
Posts

Post has attachment

The Currency Majors Show a Variety of Trends

Last week, trades on major currency pairs were quite active. The currency majors showed a variety of trends. The dollar index (#DX) closed the trading week in the negative zone. Ambiguous economic reports and disagreements in the draft laws on the tax reform between the Senate and the US House of Representatives put pressure on the American currency. At the moment, the financial market participants expect additional drivers. The attention this week will be focused on the publication of the FOMC protocols, which may indicate the further pace of increase in the range of the Fed's key interest rate.

The single currency is under pressure due to the growth of political risks in Germany. The Chancellor of Germany Angela Merkel said that negotiations on the creation of a coalition government were unsuccessful. Today, the publication of important economic reports is not planned. We recommend paying attention to the yield of US government bonds.

At the moment, prices for "black gold" are consolidating after a significant increase (by more than 2.5%) on Friday, November 17. Futures for the WTI crude oil are being traded near $56.50-$56.75 per barrel.
Market Indicators

On Friday, the major US stock indices closed in the negative zone: #SPY (-0.29%), #DIA (-0.65%), #QQQ (-0.38%).

At the moment, the 10-year US government bonds yield is at the level of 2.34-2.35%.
News background on the 2017.11.20:

We recommend paying attention to the ECB head Draghi's speech.
Photo
Add a comment...

Post has attachment
Today we expect high trading activity

Yesterday's trades on the majors were calm. The dollar index (#DX) closed the trading session with a slight increase (+0.13%). The biggest drop was shown by the GBP/USD. The pound was under pressure due to the political risks growth in the UK. Support for the US dollar was provided by the growth of government bonds yield. At the moment, investors took a wait-and-see attitude before the publication of important economic reports from the UK, the Eurozone and the US. The attention of the participants of financial markets is focused on the speeches of the chairmen of the leading Central Banks.

In October, the volume of industrial production in China increased by 6.2% (year-on-year), which is less than the forecast value at 6.3%. Preliminary data on German GDP were quite optimistic. It is expected that Germany's economy will grow by 0.8% in the third quarter. Market expectations were at the level of 0.6%.

At the moment, the "black gold" prices demonstrate a negative dynamics. Futures for the WTI crude oil are being traded near $56.50 per barrel. Investors expect a report on crude oil reserves in the US from the American Petroleum Institute.
Market Indicators

Yesterday, the major US stock indices closed in the positive zone: #SPY (+0.09%), #DIA (+0.10%), #QQQ (+0.12%).

The 10-year US government bonds yield continues to show positive dynamics. At the moment, the indicator is at the level of 2.40-2.41%.
Today we recommend you to pay attention to the following statistics:

– inflation report in the UK – 11:30 (GMT+2:00);
– preliminary data on the GDP of the Eurozone – 12:00 (GMT+2:00);
– producer price index in the USA – 15:30 (GMT+2:00).
Photo
Add a comment...

Post has attachment
TODAY WE EXPECT HIGH VOLATILITY

The US dollar continues to strengthen relative to the major currencies. Yesterday, support was provided by the growth of the US government bonds yield and quite optimistic data on business activity indices. At the moment, the probability of the Fed's interest rate increase in December this year exceeded 95%.
Today, the key event will be the meeting of the Bank of Canada. Most experts believe that the regulator will leave the interest rate at the previous level of 1.00%. We recommend you to pay attention to the comments and rhetoric of the Central Bank representatives.
In the Asian trading session, the Australian dollar fell sharply. The Australian Bureau of Statistics reported that in the third quarter, the consumer price index was 0.6%, which is less than the forecasted value of 0.8%. Since the beginning of this week, the EUR/USD currency pair has been consolidating. Investors took a wait-and-see approach before the ECB meeting on October 26.
The oil quotes continue to show positive dynamics. Yesterday, futures for the WTI crude oil rose by more than 1%. Participants of the financial markets are expecting a report on crude oil inventories in the US at 17:30 (GMT+3:00).

https://justforex.com/analytics/market-overview-2017-10-25
Photo
Add a comment...

Post has attachment
THE CURRENCY MAJORS SHOWED MIXED RESULTS

Yesterday, the major currency pairs showed mixed results. The dollar index (#DX) closed the trading session with a slight increase (+0.15%). The US currency was supported by the growth of the US government bonds yield. At the moment, the US dollar has moved away from local extremes.

USD/JPY updated a 3-month high, as financial market participants expect the central bank of Japan to adhere to a stimulating monetary policy. The Canadian dollar continued to lose ground against the US dollar. In August, the volume of wholesale sales in Canada increased by 0.5%, which is less than the forecasted value of 0.6%. The single currency remains under pressure amid political uncertainty in Spain. We recommend you to keep track of up-to-date information on potential candidates for the Fed's Chairman.

At the moment, the "black gold" prices are consolidating. Futures for the WTI crude oil are being traded near $52 per barrel. Investors expect a preliminary report on the weekly crude oil inventories in the US from the American Petroleum Institute.
Photo
Add a comment...

Post has attachment
NVESTORS ARE WAITING FOR ADDITIONAL DRIVERS

Last week, the US dollar weakened against the majors. The dollar index (#DX) completed the trading session in the negative zone. On Friday, October 13, the attention was focused on reports on inflation and retail sales in the US. The statistics turned out to be ambiguous. In September, the base consumer price index increased by 0.1%, which is less than the forecasted value of 0.2%. At the same time, the base retail sales index grew by 1.0%. Market expectations were at 0.3%. The probability of tightening the Fed's monetary policy in December this year is still at a fairly high level (81.7%).
At the moment, there is an ambiguous technical pattern on main currency pairs. Participants of the financial markets expect additional drivers. The current trading week will be full of important economic reports. We also recommend following the dynamics of the US government bonds yield.
In the oil market, bullish sentiments continue to prevail. At the moment, futures for the WTI crude oil are being traded near $52 per barrel.
Market Indicators
On Friday, the major US stock indices closed in the positive zone: #SPY (+0.12%), #DIA (+0.18%), #QQQ (0.39%).
At the moment, the 10-year US government bonds yield is in the range of 2.28-2.30%.
News background on the 2017.10.16:
- The balance of trade of the Eurozone at 12:00 (GMT+3:00);
- The NY Empire State index of manufacturing activity at 15:30 (GMT+3:00).
Photo
Add a comment...

Post has attachment
HE DOLLAR INDEX HAS UPDATED LOCAL HIGHS

Yesterday, the US dollar strengthened again against the majors. The dollar index (#DX) closed the trading session in the positive zone (+0.65%). "While implementing the program of the assets buyout reduction, the weak level of inflation in the Eurozone will be taken into account," the chief economist of the ECB Peter Prat says. The political uncertainty after the referendum in Catalonia still puts pressure on the single currency.

Support for the US dollar is provided by optimistic economic reports. In September, the index of business activity in the manufacturing sector from ISM reached a record high in the last few years. The indicator increased from 58.8 to 60.8.
The Reserve Bank of Australia, as expected, retained the key interest rate at the previous level of 1.50%. The regulator intends to adhere to the current rate of the monetary policy, which will contribute to stable economic growth.
The oil quotes moved away from local highs. During yesterday's trading, futures for the WTI crude oil fell by more than 2%. At the moment, the price of "black gold" is testing the mark of $50.5 per barrel.
Photo
Add a comment...

Post has attachment
INVESTORS ARE WAITING FOR THE MEETING OF THE US FED

In the upcoming trading week, the meeting of the US Fed will be the main driver in the foreign exchange market, which will be held on Wednesday, September 20. Most experts believe that the regulator will leave the key interest rate range unchanged at 1.00-1.25%. Participants of the financial markets expect that the Central Bank will provide more detailed information and indicate the start date of the program of quantitative easing. We also recommend you to pay attention to the updated FOMC forecasts. It should be recalled that the latest economic reports from the United States were mixed.

Last week the best results were demonstrated by the pound. The growth of the GBP/USD quotations exceeded 400 points. The currency of Great Britain renewed the annual maximum. The Bank of England said that in the near future the issue of the program of quantitative easing could be raised.
Photo
Add a comment...

Post has attachment
INVESTORS ARE WAITING FOR THE MEETING OF THE US FED

In the upcoming trading week, the meeting of the US Fed will be the main driver in the foreign exchange market, which will be held on Wednesday, September 20. Most experts believe that the regulator will leave the key interest rate range unchanged at 1.00-1.25%. Participants of the financial markets expect that the Central Bank will provide more detailed information and indicate the start date of the program of quantitative easing. We also recommend you to pay attention to the updated FOMC forecasts. It should be recalled that the latest economic reports from the United States were mixed.

Last week the best results were demonstrated by the pound. The growth of the GBP/USD quotations exceeded 400 points. The currency of Great Britain renewed the annual maximum. The Bank of England said that in the near future the issue of the program of quantitative easing could be raised.

The oil quotes continue to show positive dynamics. At the moment, futures for the WTI crude oil are being traded near $50.5 per barrel.
Photo
Add a comment...

Post has attachment
THE ATTENTION IS FOCUSED ON THE MEETING OF THE CENTRAL BANKS

Today, the meetings of the National Bank of Switzerland and the Bank of England will take place, at which decisions on the further monetary policy will be made. At the moment, most experts believe that regulators will leave interest rates unchanged at -0.75% and 0.25% respectively. At the same time, it is necessary to pay attention to the comments and rhetoric of the Central Banks representatives.

Yesterday mixed data were published on the producer price index in the USA. In August, the indicator increased by 0.2%. At the same time, market expectations were at the level of 0.3%. The administration of the US president plans to carry out a tax reform before the end of this year. These events caused a significant demand for the American currency. The dollar index (#DX) closed the trading session in the positive zone (+0.58%).

The oil quotes continue to show positive dynamics. Yesterday, futures for the WTI crude oil rose by more than 2%. At the moment, the "black gold" prices exceeded $49 per barrel.
Photo
Add a comment...

Post has attachment
Yesterday, the Bank of Canada unexpectedly raised the key interest rate by 25 basis points to 1.00%, which made the USD/CAD quotations drop by more than 200 points. The Central Bank said that the country's economic growth has significantly accelerated against the backdrop of strong consumer expenditures and the labor market stability. In the near future, representatives of the Bank of Canada will monitor how much the economy is sensitive to higher interest rates.

The US dollar partially recouped losses after the release of positive data on the index of business activity in the non-manufacturing sector from the ISM. In August, the indicator increased by 2.6% to 55.3. According to the Australian Bureau of Statistics, in July the surplus of the country's trade balance fell to A$460 million, which is significantly lower than the forecasted value of A$875 million.

At the moment, investors have adopted a wait-and-see attitude before today's ECB meeting. Participants of the financial markets expect comments of the head of the Central Bank Mario Draghi on the significant strengthening of the single currency and plans to reduce the quantitative easing program.
Photo
Add a comment...
Wait while more posts are being loaded