FX News Today A gloomy IMF outlook: Forecasts for major economies revived recession fears globally and saw risk aversion picking up again. The IMF warned that the Sino-US trade war, a “no-deal” Brexit and a weakening European economy could lead to a sharp global slowdown. Topix and Nikkei lost -0.63% and -0.47% respectively. President Trump calling on China to stop “playing around” and do a “real” trade deal -Added to the negative backdrop for markets. The Earnings season is also in full swing and reports from UBS this morning disappointed and only added to lingering risk aversion. USDJPY edged out 2-session low under 109.40; Yen firmer amid risk-off vibe. EURUSD ebbed to 18-day lows below 1.1350, driven by firming in the Dollar. WTI Oil prices back under $54.0 after hitting 7-week high yesterday at $54.39. Charts of the Day [IMG] Main Macro Events Today UK Average Earnings Index 3m/y – Expectations – Average weekly earnings are expected to remain perky in the three months to November, expected at +3.3% y/y in both the with- and ex-bonus figures. UK Unemployment Rate – Expectations – Unemployment is expected to remain unchanged at 4.1%. German ZEW Economic Sentiment– Expectations – Seen falling back to -18.3 from -17.5. Canadian Manufacturing & Wholesale Sales – Expectations – Manufacturing shipment values are expected to drop 1.0% m/m in November after the 0.1% dip in October. Wholesale shipment values are seen falling 0.5% m/m in November after jumping 1.0% in October. Support and Resistance Levels [IMG]
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.
FX News Today 10-year Treasury yields are down from overnight highs, but still up 0.7 bp at 2.746%, and 10-year JGB yields climbed 0.8 bp to -0.004%. Stock markets remained cautious during the Asian session. The Bank of Japan held policy steady, as expected, while further reducing its outlook for inflation. The resulting weakness in the Yen didn’t help stock markets and Topix and Nikkei dropped -0.60% and -0.14% respectively. The Hang Seng is also down -0.04%, despite mainland China markets initially moving higher as China’s central bank pumped liquidity into the banking system once again. Still, the measures are also a sign that officials are nervous about the slowdown in the economy and CSI 300 and Shanghai Comp are down -0.24% and -0.13%. The bank offered around 258 bln Yuan (USD 38 bln) to banks through its medium term lending tool. Markets continue to question the progress in the US-Sino trade talks, even though White House adviser Lawrence Kudlow said that the trade talks are still on and the story about cancelled preparatory meetings was “not true, there was never any meeting. We are moving toward negotiations.” The negotiations next week will be “very, very important” and “determinative”. Meanwhile, there are the first signs of a possible way out of the US government shutdown. Markets remain easily spooked, but appear to have already priced in a lot of risk last year and US stock futures are moving higher after yesterday’s sell off. Oil prices are trading at USD 53.27 per barrel. Charts of the Day [IMG] Main Macro Events Today Canadian Retail Sales – After Wholesale Sales plummeted yesterday, Canadian Retail Sales are expected to have also declined by 0.4% m/m, with core Retail Sales (ex autos) expected to have declined by 0.6%. World Economic Forum at Davos –The second day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility. Richmond Manufacturing Index – Expectations – The index is expected to have remained at a sub-zero level, standing at -2 after the -8 in the December release. Support and Resistance Levels [IMG]
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.
Dr Nektarios Michail 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.
FX News Today 10-year Bund yields are down -0.6 bp at 0.216% in opening trade. Treasury yields also fell back from overnight highs and are now down -0.2 bp at 2.739%, while JGB yields remain up 0.8 bp at 0.001%. Stock markets mostly managed to move higher in Asia overnight (excluding the Nikkei which closed with a loss of 0.09%) and DAX futures are also up, while US futures are narrowly mixed and the FTSE 100 future is swinging between gains and losses. Brexit developments remain in focus, but while in the UK officials continue to struggle to find a consensus on the way forward, the focus in the Eurozone turns to the ECB meeting today. Rates are widely expected to remain on hold and the guidance little changed, but Draghi is likely to sound much more cautious on the growth and inflation outlook, which should underpin stock markets. Norges Bank is also expected to hold rates steady and the data calendar focuses on Eurozone PMI readings, which are expected to show further weakness in the preliminary release for January. US earnings reports have helped to underpin risk appetite in recent days, while the ongoing government shutdown is preventing timely data releases and leaving investors focused on trade talk developments, company news and in Europe, Brexit jitters. Charts of the Day [IMG] Main Macro Events Today EU Services, Manufacturing, and Composite PMI – The Services PMI is expected to come out at 51.5 in January, compared to 51.2 in December. This is expected to have a positive impact on the Composite PMI, which is expected to rise to 51.4 compared to 51.1 in December. The Manufacturing PMI is expected to have remained at the same levels as in December. World Economic Forum at Davos – The third day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility. ECB Interest Rate Decision – ECB is not expected to proceed with any changes in the interest rate yet as it is has just started evaluating the effects from the end of QE in December. However, communication could provide important information regarding the future path of policy. US Jobless Claims – Initial Jobless Claims are expected to rise to 220k compared to 213k last week, while Continuing Jobless Claims are expected to decline slightly to 1.735M, compared to 1.737M last week. US Services, Manufacturing, and Composite PMI – Reductions in PMIs are expected in all sectors, in conjunction with the overall perception of a slowdown in the US, and the ongoing government shutdown. Support and Resistance Levels [IMG]
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.
Dr Nektarios Michail 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.
FX News Today 10-year Treasury yields are up 1.6 bp at 2.732% while JGB yields fell back -0.4 bp to -0.008%, despite broad gains on Asian stock markets overnight. Topix and Nikkei managed gains of 0.87% and 0.97% respectively. The Hang Seng is up 1.44% and the CSI 300 1.23%. The ASX climbed 0.8%, lifted by higher commodity prices. Earnings reports have helped to prop up market sentiment this week, despite the fact that economists and central banks are now catching up with the gloomy view on the outlook for world growth that already sent markets lower at the end of last year. The global cyclical chip sector seems to be recovering, which is underpinning tech stocks. US and European stock futures are also posting broad gains, suggesting an overall positive end to the week, with markets now bracing for key events next week including the continuation of US-Sino trade talks as well as the Fed meeting. ECB’s Coeure commented that it’s too early to discuss whether ECB will hike rates this year, while adding that the central bank may have to adjust rate guidance at some point. Coeure admitted in a Bloomberg interview that the economic slowdown has surprised the central bank although he also added that the jury is still out on how persistent the slowdown will be. Charts of the Day [IMG] Main Macro Events Today Baker Hughes US Oil Rig Count – Oil Rigs stood at 852 last week, with the number of drills highly dependent on the price of Oil. US Monthly Budget Statement – In view of the US government shutdown, the Budget Statement in December is expected to be much lower than the previous month, at a deficit of 12 billion, compared to a deficit of 205 billion in November. World Economic Forum at Davos – The third day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility. German Ifo Business Climate – Following the slowdown in the German economy, business climate is expected to decline to 100.7 compared to 101.0 in the previous month. Support and Resistance Levels [IMG]
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.
Dr Nektarios Michail 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.
FX News Today 10-year Treasury yields corrected from Friday’s highs and are down -1.8 bp at 2.740%. Stock markets in Asia initially got support from US President Trump’s agreement to a temporary end to the 35-day partial government shutdown which underpinned Wall Street on Friday. However, Trump also threatened to resume the shutdown on Feb 15 if his demands on the financing of a border wall are not met. Japan underperformed and Topix and Nikkei were under pressure from the off, while elsewhere gains faded during the course of the session as markets continue to fret over potential risk factors, first and foremost the US-Sino trade talks and Brexit. Topix and Nikkei lost -0.68% and -0.60% respectively. The Hang Seng is now down -0.105 and the CSI 300 down -0.06%. Australia is shut for a holiday and US futures are heading south. Oil prices fell back from a session high of USD 53.64 per barrel and the front end WTI future is now at USD 53.01 per barrel. Charts of the Day [IMG] Main Macro Events Today ECB Draghi Speech (EUR, GMT 14:00) – The ECB President is due to testify at the European Parliament in Brussels. New Zealand Trade Balance (NZD, GMT 22:45) – The New Zealand trade balance is expected to have come out in surplus area in December, compared to a deficit in November. Support and Resistance Levels [IMG]
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.
Dr Nektarios Michail 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.
FX News Today Stock markets traded mixed in Asia – NASDAQ is outperforming, Nikkei lost -0.52% and UK100 futures are moving higher. No more bad news from Apple: Apple Inc.’s report of sharp growth in its services business helped to underpin sentiment,. Brexit: UK lawmakers didn’t vote to extend the Brexit deadline. PM May heads back to Brussels to re-negotiate backstop. EU leaders were once again quick to stress that the legal text of the withdrawal agreement is not up for discussion. French GDP numbers held up better than expected and German GfK consumer confidence unexpectedly jumped higher. EURUSD ebbed back to net unchanged (1.1430) after posting 2-week high at 1.1451. USDJPY stucks in the mid-to-low 109.0s. GBPUSD is trading near 1.3100 from 1.3190 high. The front end WTI future is trading at USD 53.42 per barrel. Charts of the Day [IMG] Main Macro Events Today German Jan HICP – Expectations -While the German HICP rates are above the Eurozone average now, base effects from lower energy prices continue to keep the headline rate below the ECB’s 2% limit. The preliminary January reading should be at 1.8% y/y . ADP Employment – Expectations –The January ADP Employment report should reveal a 195k gain for the month, after a 271k December gain. FOMC – Expectations – The FOMC statement will be released at 19:00 GMT. That will be followed by Chairman Powell’s press conference, which will now be a regular affair at each meeting, although forecasts will continue to be published quarterly. No one expects any action on rates tomorrow (including IOER). We expect the statement to include the new watchword “patient,” along with “flexible,” with the latter perhaps a nod to the balance sheet, and stress on data dependency. Support and Resistance [IMG] 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.
FX News Today Asian stock markets rallied after the FOMC, which boosted risk appetite. FOMC held policy steady and pledged to be patient with further interest rate hikes – a possible sign that the Fed is signalling a potential end to its tightening cycle. Topix and Nikkei climbed 1.08% and 1.06% respectively. US Equities firmed after Apple, Boeing, AMD results. German Retail Sales slumped 4.3% m/m at the start of the European session. It raised concerns about the health of the German economy. European futures are moving higher, in tandem with US futures, after a rally overnight. WTI crude +2.0% near $54.50 after small EIA build. USDIndex stumbled 0.45% to 95.40; EUR probed 1.15, JPY through 109.00. Charts of the Day [IMG] Main Macro Events Today Eurozone Prelim. Flash GDP – Expectations – Overall Eurozone GDP should show growth holding at 0.2% q/q, but with risk to the downside. German and EU Unemployment Change – Expectations – A decline is anticipated in the German unemployment number of -4K. The December Eurozone unemployment rate is seen falling back to 7.8% from 7.9%. Canadian GDP – Expectations – GDP for November is on track to contract 0.1% in November (m/m, sa) as the sharp decline in oil prices materially impacted the economy. Support and Resistance [IMG] 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.
FX News Today US-Sino trade talks will continue later this month with the March 1 deadline for tariff hikes coming ever closer. Both sides sounded cautiously optimistic Stock markets traded mixed in Asia. Topix and Nikkei closed with a gain of -0.18% and a marginal gain of 0.07% respectively. China’s manufacturing PMI decline dropped to the lowest level since February 2016. This revived concerns about the country’s economic strength. Earnings reports continue to come into the mix and banks were the biggest drag on Japanese benchmarks, while electronics makers gained. European stock futures are moving higher and US futures are now also mostly up as the focus shifts to US jobs data. The WTI rallied as much as 2%, peaking at two-plus month highs of $55.32 before falling back to the current $53.80. EURUSD eased from 3-week highs, back to 1.1440 area. USDJPY is above 2-week lows and currently retesting 109. Charts of the Day [IMG] Main Macro Events Today Eurozone Manuf. PMI – Expectations – January Eurozone Manufacturing PMI will likely be confirmed at just 50.5 from the preliminary print, dropping from December’s 51.4, with confidence data adding to concerns that the slowdown will be more protracted than initially expected. Eurozone’s CPI – Expectations –Eurozone preliminary CPI reading for January should be at just 1.5% y/y, down from 1.6% y/y at the end of 2018. US Nonfarm Payrolls and ISM Manu. PMI – Expectations – January nonfarm payrolls are expected to increase by 200k, with a 195k private payroll gain. The ISM is expected to slip to a new 2-year low of 54.0 in January from 54.3 in December, versus a 14-year high of 61.4 in August. Support and Resistance [IMG] 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.
FX News Today 10-year Treasury yields are up 0.7 bp at 2.691%, and 10-year JGB yields climbed 0.8 bp to -0.023%. Yields continue to move higher and Asian stock markets mostly managed modest gains in quiet trade, with China and South Korea closed for Lunar New Year celebrations. Topix and Nikkei managed gains of 1.07% and 0.46% respectively, while the Hang Seng climbed 0.21% and the ASX closed up 0.48%. US futures are marginally higher. US President Trump told CBS trade talks with China are “doing very well” and also sounded confident on an agreement with North Korea, which helped to underpin confidence and risk appetite, after strong US data releases on Friday dampened concern about the outlook for world growth and counterbalanced disappointing forecasts from Amazon. Earnings reports will remain a key factor this week alongside fundamentals and political developments in Europe also, where Brexit concerns remain high on the agenda. Charts of the Day [IMG] Main Macro Events Today ECB Mersch Speech – Yves Mersch, a member of the ECB Executive Board will speak at Lamfalussy Lectures Conference of Lamfalussy Award at Central Bank of Hungary in Budapest UK Construction PMI – The UK PMI is expected to have stood at 52.6 in January, compared to 52.8 in December. US Factory Orders – Factory Orders are expected to have grown by 0.2% in November, compared to -2.1% in October. Support and Resistance [IMG] 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.
Dr Nektarios Michail 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.
FX News Today RBA left the cash rate on hold as expected and conceded that some downside risks have increased. RBA set to make subtle shift to the dovish side. RBA’s central scenario for the economy is around 3% growth in 2019. AUDUSD perked up to 0.7260 from 0.7204. Alphabet beat on profits and revenue, by making $8.94 billion on $39.27 billion revenue, but shares fell 3% on continuing pressure on advertising prices and decreasing margins. European stock futures are moving higher, while US futures are struggling and slightly in the red. Better than expected BRC retail sales out of the UK helped to underpin sentiment ahead of Services PMI. WTI retreated 1.2% to $54.0 area, down from 2019 highs of $55.74 bbl – Currently at $55.00 area. Charts of the Day [IMG] Main Macro Events Today Eurozone Services PMI – The overall Eurozone Services PMI for January is expected to come in unchanged from the preliminary number at 50.8, which should leave the composite at 50.7. UK Service PMI – It is expected to come in with a headline of 51.0 after 51.2 in December. EU Retail Sales – They are expected to have corrected -1.8% m/m, after the strong November reading. US Service and ISM Non-Manufacturing PMI – The ISM-NMI Index is expected to slip further to 57.5 in January from 58.0 in December, versus a 13-year high of 60.8 in September. Services PMI is expected to be unchanged at 54.2 for January. Support and Resistance [IMG]
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.
FX News Today Asian stock markets had another lacklustre session. In Europe, Bunds got another boost from the much weaker than expected German orders number. Manufacturing orders down -1.6% m/m. RBA shifted to a neutral stance: RBA Governor Philip Lowe mentioned that the ‘interest rate outlook is now more evenly balanced’. AUD tumbled in tandem with 10-year rates, which dropped -6.3 bp to 2.180%. EURUSD at 12-day lows under 1.1400; GBPUSD drifted back below 1.3000. WTI future is trading at USD 53.66, after falling back from levels over USD 55 yesterday. Charts of the Day [IMG] Main Macro Events Today US Trade Balance – The November trade deficit is expected to narrow to -$54.0 bln from -$55.5 bln. Nonfarm Productivity and Labor Costs – Nonfarm productivity growth is pegged at 2.5% in Q4, following a Q3 trimming to 1.7% from 2.3%, while unit labor costs may rise 1.5%. Canadian Ivey PMI – The January Ivey PMI is expected to improve to a seasonally adjusted 62.0 from 59.7 in December. NZ Employment Change – The ISM-NMI Index is expected to slip further to 57.5 in January from 58.0 in December, versus a 13-year high of 60.8 in September. Services PMI is expected to be unchanged at 54.2 for January. Support and Resistance [IMG] 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.
FX News Today 10-year Treasury yields are down 0.5 bp at 2.690% but JGB yields are up 1.3 bp at -0.016%, despite a 0.59% decline in the Nikkei and a 0.83% drop in the Topix amid another mixed session in Asia. Japanese shares were hit by corporate earnings, while the ASX continued to rally, gaining 1.10%, in tandem with local bonds after the dovish shift at the RBA this week. The RBI meanwhile surprised with a cut in the repo rate by a quarter point. Hong Kong and China remained closed and despite some movement, investors continue to hold back ahead of the next round of US-Sino trade talks next week. US futures are heading south despite a cautiously upbeat assessment of the economy from Fed Chairman Powell, who said “the US economy is now in a good place”. The front end WTI future managed a session high of USD 54.04 before falling back to USD 53.79 per barrel. Charts of the Day [IMG] Main Macro Events Today Theresa May meetings in Brussels – Theresa May and the European Commission’s president will meet today, with the UK PM hoping to obtain fresh concessions, despite the EU’s insistence that it will not renegotiate the Brexit deal. In late afternoon, May is also expected to meet with Donald Tusk, the European Council President. BoE Interest Rate Decision – BoE is not expected to bring forth any changes to its interest rate policy ahead of a Brexit agreement and thus the rate is expected to remain at 0.75%. BoE Carney Speech – Mark Carney is expected to speak along with other MPC members about the BoE inflation report. Fed Clarida Speech – FOMC Member, Richard Clarida is due to speak at the Czech National Bank’s conference about the neutral interest rate, with audience questions expected. Support and Resistance [IMG] 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.
FX News Today 10-year Treasury yields are down -1.1 bp and JGB yields dropped -1.7 bp to -0.038% as Asian stocks tumbled on growth concerns and pessimism on US-Sino relations, with markets worrying that there won’t be a trade deal in time to prevent another round of tariff hikes. Asked whether he would meet Chinese President Xi Jinping before the March 1 deadline US President Trump said “No”, before adding “unlikely”, although he suggested they would “maybe” meet later. Topix and Nikkei lost -1.86% and -1.96% respectively today. The Hang Seng fell back -0.215, after returning from holiday, while mainland China markets remained closed. The ASX is down after the RBA slashed its growth projection to 2.5% from 3.25% with its quarterly statement on monetary policy today. The CPI forecast was cut to 1.25%. Growth warnings in Europe yesterday saw European and US markets closing with broad losses. The negative growth backdrop and heightened risk aversion is keeping bond markets supported. Oil prices fell back to USD 52.26 per barrel. Fed’s Bullard promotes caution on balance sheet unwind. He declined to say how close the Fed is to ending balance sheet unwind process but said “We are closer than I thought we were a year ago”. Charts of the Day [IMG] Main Macro Events Today Russia Interest Rate Decision – No surprises are expected from the Russian Central Bank which is expected to keep its interest rate at 7.75%. Canada Labour Market Data – Canadian data are expected to show a slight deterioration in the economy in January, as net change in employment is forecast to be lower than December while the unemployment rate is forecast to have grown to 5.7%, compared to 5.6% in December. Support and Resistance [IMG] 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.
Dr Nektarios Michail 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.
FX News Today Stocks in Asia traded mixed, amid lingering concerns over US-Sino trade relations and doubt whether the talks will bring sufficient progress to prevent another round of punitive tariffs. Chinese equities rallied after returning from last week’s holiday, with small caps and stocks in the tech hub of Shenzhen rallying. The Hang Seng was up 0.46% as of 6:30GMT the CSI 300 up 1.62% and Shanghai and Shenzen Comp climbed 1.18% and 2.58% respectively. Japanese markets were closed for a holiday, so Treasury futures won’t trade either until Europe opens. Elsewhere in Asia bonds traded mixed with Australia outperforming as the ASX underperformed and dropped -0.17%. Chinese Vice Premier Liu He will meet Treasury Secretary Mnuchin and Trade Representative Lightizer in Beijing for high level talks this week. Meanwhile the government in Washington may be heading for another shutdown, which is adding to caution in wider markets. US futures are slightly in the red, while European futures moved slightly higher. The front end WTI future is trading at USD 52.22 per barrel. Charts of the Day [IMG] Main Macro Events Today Swiss CPI – The inflation rate in Switzerland is expected to have stood at 0.6% y/y in January, down from 0.7% y/y in December. UK GDP and Production Data – UK GDP is expected to have stood at 1.4% y/y in the final quarter of 2018, compared to 1.5% y/y growth in Q3. Manufacturing production is expected to have declined by 0.7% y/y, compared to a decline of 1.1% y/y in November. Industrial Production is expected to have increased by 0.2% m/m, compared to a decline of 0.4% in November. US Unit Labour Cost – US Unit Labour Cost growth are expected to have stood at 1.7% in 2018Q4, compared to 0.9% in the third quarter. Support and Resistance [IMG]
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.
Dr Nektarios Michail 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.
FX News Today Stock markets remain supported by improving risk appetite, with investors hoping for progress in US-Sino trade talks. Japanese markets outperformed in catch up trade on returning from yesterday’s holiday and underpinned by a weaker yen. US lawmakers have reached an “agreement in principle” on funding for border security that would stop a second government shutdown on Friday. Brexit concerns continue to linger. Comments from ECB’s Lane, has underpinned speculation that Draghi will rule out another rate hike this year amid the expected downward revisions to growth forecasts. The front end WTI future is trading at USD 52.55 per barrel.3 EURUSD went sub-1.1300 for first time in 6 weeks on generally firmer dollar. USDJPY rallied to 6-wk high of 110.64, underpinned by rally in global stocks. Charts of the Day [IMG] Main Macro Events Today German President Weidmann speech – German President Weidmann is due to deliver a speech titled “The role of the central bank in a modern economy – a European perspective” at the University of South Africa, in Pretoria. BoE Carney speech – Due to speak about the economic outlook and global trade tensions, in London. Fed Chair Powell speech – Due to deliver a speech titled “Economic Development in High Poverty Rural Communities” at the Hope Enterprise Corporation Rural Policy Forum, in Mississippi. Fed Mester and George speech – Cleveland Fed hawk Mester will update the economic outlook and policy, while KC Fed hawk George will discuss “Charting America’s Economic Course.” Though both have been two of the most hawkish on the FOMC, each has recently indicated a pause is in order currently. 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.
FX News Today 10-year Treasury yields are up 0.5 bp at 2.693% and JGB yields lifted 1.2 bp to -0.0013%. Stocks were supported by trade talk hopes as US President Donald Trump’s suggestion that he could see letting the March 1 deadline on China tariffs slide a little if the two sides were close to a complete deal helped to underpin sentiment. The negative sentiment that dominated much of the last months of 2018 continues to unwind, but markets will ultimately have to see permanent solutions and real results, otherwise they remain at risk of sliding back again. For now though markets are mostly in a positive mood and while the ASX closed with a loss of -0.26%, Topix and Nikkei rallied 1.06% and 1.34% respectively. The Hang Seng is up 1.21%, China’s blue chip index CSI is up 2.1% and the Shanghai Composite 1.92%. US futures are equally moving higher, as are European futures. Oil prices have also come back from the lows seen early in the week and the front end WTI future is trading at USD 53.64 per barrel. The calendar today has inflation releases for the UK and the US, with the Riksbank meeting not expected to post any surprises. Charts of the Day [IMG] Main Macro Events Today UK Price Indices – The UK’s Price Indices are expected to continue close to their December levels, however at mixed outcomes. The Retail Price Index is expected to stand at 2.6% y/y compared to 2.7% last month, the PPI to increase to 3.8% y/y compared to 3.7%, while the CPI is expected to have stood at 1.9% compared to 2.1% in December. EU Industrial Production – Industrial production in the European Union is expected to continue its decline albeit at a slower pace, with a reduction of 0.4% m/m expected in the December data, compared to a 1.7% reduction in November. US CPI Inflation – Inflation is expected to have declined in the US, in association with the prevailing understanding of a slowdown in the economy, with the CPI expected to have increased by 1.5% y/y, compared to 1.9% y/y in December. Core CPI is expected to have increased by 2.1% y/y compared to 2.2%. Support and Resistance [IMG] 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.
Dr Nektarios Michail 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.
FX News Today 10-year Treasury yields are up 0.2 bp at 2.704% and JGB yields fell back -0.8 bp to -0.025% as the rally on stock markets faded. Wall Street still closed with slight gains, but there wasn’t enough momentum to sustain a further broad move higher in Asia. Topix and Nikkei closed little changed and the Hang Seng is down -0.26% while CSI 300 and Shanghai Comp are up 0.33% and 0.13% respectively, after Chinese data showed a rebound in exports at the start of the year. The tech hub of Shenzhen outperformed with a gain of 0.93%, but the ASX closed with a marginal loss. US futures as well as European futures are moving higher though, so there is still some life in markets after reports that the US is considering delaying China tariffs for 60 days. President Trump had already told reporters that trade talks are making good progress. Charts of the Day [IMG] Main Macro Events Today EU GDP – The common currency’s GDP is expected to have grown by 1.2% y/y in the final quarter of the year, the same growth rate recorded in Q3. US Retail Sales – One of the most important indicators of consumption, Retail Sales ex Autos are expected to have grown by 0.1% m/m in December, compared to 0.2% m/m in November. US PPI Inflation – In accordance with the slowdown picture in the US, PPI inflation is expected to have slowed to 2.5% y/y in January, compared to 2.7% y/y in December. US Jobless Claims – Continuing Jobless Claims are expected to have increased to 1.74M on the week ending at January 8, compared to 1.736M last week. Initial Jobless Claims are expected to have decreased to 225K compared to 234K the previous week. Brexit Vote –Theresa May has put a new motion before Parliament asking to allow her to continue negotiating, in order to seek changes to the backstop. Support and Resistance [IMG] 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.
Dr Nektarios Michail 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.
FX News Today USD under pressure from that weak data yesterday, as US retail sales mix has revived concerns about the global growth outlook and without tangible results, markets seem unwilling to invest any more in trade talk hopes. Euro slipped under 1.1300 (1.285), as Germany’s flirt with recession has also shifted the focus to flagging growth in Europe, which has its own trade dispute with the US. GBP pressured from another lost Brexit vote for the Government, moving under 1.2800. Overnight Chinese CPI and PPI both missed expectations and Japanese Industrial Production remained woeful. Gains in AUD (under 0.7100) and NZD (0.6825) were reduced. Stock markets closed narrowly mixed on Wall Street with the USA100 managing a slight gain, while USA30 and USA500 were pressured by disappointing Retail Sales. In Asia most markets headed south, with Chinese indices underperforming. CSI and Shanghai Comp had rallied in recent sessions on hopes that another round of punitive tariffs could be avoided and that Trump would push out the March 1 deadline to give talks more time to progress, but the blue chip CSI 300 lost 1.58% today and the Shanghai Comp lost 1.13%, while the tech hub of Shenzen outperformed slightly, but also declined by 0.27%. The JPY dropped to 110.28 while Topix and Nikkei closed with losses of 0.79% and 1.13% respectively and the Hang Seng declined by 1.86%. US futures are also broadly lower, suggesting a somber close to the week. Oil prices tested the USD 55 per barrel mark before returning to $55.54 per barrel. Charts of the Day [IMG] Main Macro Events Today UK Retail Sales – Retail Sales ex-Fuel are expected to have increased in January, to 3.0% y/y, compared to 2.6% in December. US Industrial Production – Industrial Production is expected to have increased by 0.1% m/m in January, compared to 0.3% m/m in the previous month. Michigan Consumer Sentiment – Sentiment is expected to have rebounded as markets anticipate that the preliminary reading will see it increase from 91.2 in January to 93.0 in February. 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.
Dr Nektarios Michail 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.
FX News Today Japanese bond yields increased, outperforming against most other bonds in Asia as stock markets rallied. Trade optimism, improving credit data out of China and better than expected machinery orders in Japan boosted risk appetite and Topix and Nikkei closed with gains of 1.6% and 1.8% respectively. The Hang Seng is up 1.7% as CSI 300 and Shanghai Comp have gained 2.9% and 2.4% respectively so far. US President Trump said over the weekend that talks were “very productive” and China’s President Xi Jinping said the latest round of meetings “achieved important progress in another step”, which fueled optimism that another round of punitive tariffs can be avoided. Improved credit data out of China meanwhile helped to calm concerns about growth prospects in the country. US futures are narrowly mixed and European stock markets marginally higher, so it remains to be seen whether the rally will be sustained. The front end WTI future is trading at USD 55.93 per barrel, after testing highs over USD 56. US markets are closed today and there was no trade in Treasuries. Charts of the Day [IMG] Main Macro Events Today US Presidents’ Day – US Markets closed today for a public holiday. Support and Resistance [IMG] 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.
Dr Nektarios Michail 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.
FX News Today Mixed session on Asian stock markets. Japan’s central bank: “We won’t rule out further easing measures.” US-China trade talks resume for an extended second week in Washington after terminating in Beijing last week with “progress” but without resolution. In Europe, Trump’s threat of auto tariffs and Brexit talks dominate ahead of tomorrow’s Fed minutes. President Trump has 90 days to decide whether to act on the probe into whether imported vehicles pose a national security threat. AUDJPY has been the biggest mover in a day of directionally challenged markets, as participants wait on progress from the US-China trade talks. Cable has lodged back above 1.2900. Crude Oil prices meanwhile are trading close to three-month highs. Charts of the Day [IMG] Main Macro Events Today
German ZEW Investor Sentiment – A slight improvement is expected, to -14.0, which is actually a tad more pessimistic than Bloomberg consensus, which expects a rise to -13.5 from -15.0. UK Unemployment – Unemployment rate is expected to come in unchanged at the multi-decade low 4.0% UK Average Earnings – The average household income is anticipated to rise 3.5% y/y in the three months to December, up from 3.3% in the month prior, which would be a new cycle high for this metric.
Support and Resistance [IMG]
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.
FX News Today Bund yields lower in opening trade, Equity markets mostly higher in Asia. Stock markets in Asia remained underpinned by hopes of a US-Sino trade deal. Wall Street closed higher, helped by positive earnings at Walmart Inc. Fresh. President Trump meanwhile suggested that March 1 tariff deadline is not cast in stone, so there is hope that further tariffs can be avoided. Japan’s exports fell 8.4% in January, while imports declined 0.6% y/y. The contraction in exports seems consistent with escalating concern that Japan’s export sector will be dented this year by global trade frictions and the slowing in China’s economy. The Yuan lifted after a Bloomberg report saying the US was looking for a pledge from China that it will not devalue its yuan currency as part of the trade deal. USDJPY has climbed to 110.91 from 110.60, amid cautious risk-on theme WTI crude edged out fresh 3-month high of $56.77. Charts of the Day [IMG]
Main Macro Events Today Juncker and May meet for another round of crunch talks in Brussels today. EU Consumer Confidence – The overall Eurozone number Consumer Price Index (M/M) on course to be confirmed at 1.4% y/y. FOMC minutes – The focus turns on the FOMC minutes to the January 29, 30 policy meeting as we look to glean more information on the Fed’s pivot to a more dovish point of view, even as rates were left unchanged. We did get a glimpse from Chairman Powell’s press conference, where he noted tighter financial conditions, along with tame inflation. And he said the onus is on price pressures to force a rate move. Australian labour data – The unemployment rate is seen holding steady at 5.0%. Support and Resistance [IMG] 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.
FX News Today Asian equities initially rallied after Fed minutes promised patience on further policy action but most have moved down from earlier highs. Hopes that the US and China are nearing a deal on trade have risen after an unnamed source cited by Reuters said the two sides have started to outline commitments in principle in what is described as the most significant progress yet. The JPY225 closed with a gain of just 0.15%, while the Topix was unchanged from yesterday. The Hang Seng is up 0.03% and mainland China indices are also little changed. The AUS200 outperformed and rallied 0.70%, after better than expected jobs data. US futures are stronger after Reuters reports outlined progress in US-Sino trade talks and European futures are also moving higher. The March WTI futures are trading at USD 57.33 per barrel. Charts of the Day [IMG]
Main Macro Events Today EU PMIs – EU Manufacturing PMI is expected to have declined to 50.3 in February, compared to 50.5 last month, dangerously close to the 50 threshold. Services PMI is expected to have increased to 51.4, compared to 51.2 in January, hence pushing the overall Composite PMI higher to 51.1, compared to 51.0 in the previous month. Philly Fed Index – The Philly Fed Manufacturing Index is expected to have declined to 14, compared to 17 in January, still registering a positive effect. Durable Goods – Durable goods are expected to come out registering positive growth for December, compared to negative for November. US PMIs – Manufacturing is expected to have declined in the US, similar to the EU, reaching 54.7 compared to 54.9 last month, while Services are expected to have slightly grown to 54.3 compared to 54.2 in January. Existing Home Sales – Home Sales are expected to have remained at more or less the same levels, at 5M, compared to 4.99M last month. CB Leading Index – The Conference Board Index is expected to have shown a 0.1% m/m increase in January, compared to the 0.1% m/m contraction in December. Support and Resistance [IMG] 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.
FX News Today Both Topix and Nikkei, declined during the Asian session, with -0.25% and -0.18% respectively. Overall, stock markets in Asia struggled through most of the session as subdued inflation data rekindled concerns about a lack of demand and flagging growth and after Wall Street closed in the red. News that US President Trump will meet with China’s top trade negotiator today in Washington seems to have helped Chinese markets to stage a late rally and CSI 300 and Shanghai Comp are up 1.76% and 1.51% respectively and the Hang Seng also managed to claw back losses and is up 0.11%. US stock futures are posting marginal gains and the April WTI future is trading at just over USD 57 per barrel. USDCAD rallied over 1.32 to 1.3225, as Oil inventories rose, with the US at record production levels. Oil price is now back around the $57 mark. Japanese CPI data same as forecasts, pushing the Yen higher. Charts of the Day [IMG]
Main Macro Events Today EU CPI Inflation – Core inflation is expected to be confirmed at 1.1% y/y while the overall inflation rate is expected to have stood at 1.4% in January. Canadian Retail Sales – Retail Sales are expected to have declined by 0.3% m/m in December, an improvement from the 0.6% declined observed in November. Mario Draghi Speech – The ECB President is due to speak to the University of Bologna where he will accept an honourary degree. Support and Resistance [IMG] 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.
Dr Nektarios Michail 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.
FX News Today A rally in Chinese equities led to a broad rise in Asian stock markets, after confirmation from US President Trump that he will delay the planned increase in tariffs on Chinese goods, which had been scheduled to start in March. This saw the CSI 300 and Shanghai Comp rallying 5.58% and 5.29% respectively. The Hang Seng rose 0.44%, while Topix and Nikkei gained 0.71% and 0.48% respectively, as Trump cited “substantial progress” in the talks and said that he would plan a summit meeting with China’s President Xi Jinping at his Mar-a-Lago estate to conclude an agreement, if there is additional progress. More concrete signs then that trade tensions can be resolved through talks and US futures are moving higher, while the April WTI future is trading at USD 57.16 per barrel. USD traded mixed at 1.1345 against the Euro and at 110.60 against the Yen. No Brexit Vote this week after all but one should take place by March 12. Charts of the Day [IMG]
Main Macro Events Today BoE Carney Speech – The BoE Governor is due to hold a press conference in London. FOMC Clarida Speech – Richard Clarida is expected to participate in a moderated discussion titled “A conversation with Community Leaders” in Dallas, Texas. Wholesale Inventories – The change in the total value of goods held by wholesalers is expected to stand at 0.3%, the same rate as the previous month. Support and Resistance [IMG]
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.
Dr Nektarios Michail 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.
FX News Today A rally in Chinese equities led to a broad rise in Asian stock markets, after confirmation from US President Trump that he will delay the planned increase in tariffs on Chinese goods, which had been scheduled to start in March. This saw the CSI 300 and Shanghai Comp rallying 5.58% and 5.29% respectively. The Hang Seng rose 0.44%, while Topix and Nikkei gained 0.71% and 0.48% respectively, as Trump cited “substantial progress” in the talks and said that he would plan a summit meeting with China’s President Xi Jinping at his Mar-a-Lago estate to conclude an agreement, if there is additional progress. More concrete signs then that trade tensions can be resolved through talks and US futures are moving higher, while the April WTI future is trading at USD 57.16 per barrel. USD traded mixed at 1.1345 against the Euro and at 110.60 against the Yen. No Brexit Vote this week after all but one should take place by March 12. Charts of the Day [IMG]
Main Macro Events Today BoE Carney Speech – The BoE Governor is due to hold a press conference in London. FOMC Clarida Speech – Richard Clarida is expected to participate in a moderated discussion titled “A conversation with Community Leaders” in Dallas, Texas. Wholesale Inventories – The change in the total value of goods held by wholesalers is expected to stand at 0.3%, the same rate as the previous month. Support and Resistance [IMG]
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.
Dr Nektarios Michail 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.
FX News Today Stock markets outside of mainland China headed south. The first offshore default by a Chinese state owned company in 20 years sparked a fresh wave of risk aversion and concerns over the health of the Chinese economy, as it has failed to repay a US dollar bond in Hong Kong. Border tensions between India and Pakistan added to the risk-off sentiment. European stock futures are also heading south, in tandem with US futures,amid ongoing Brexit uncertainty. German GfK consumer confidence held steady at 10.8 in the advanced reading for March, unchanged from the February reading. WTI crude dropped $2.00/bbl on Pres Trump tweet “Oil prices getting too high.” USDJPY fell amid risk-on theme, but still above 110.70. EURUSD firmer to around 1.1350 area. Gold is still unable to move decisively past the 1330 mark. Charts of the Day [IMG]
Main Macro Events Today Inflation Report Hearings UK Prime Minister Theresa May will update parliament today. US Housing data – Housing starts are estimated to rise 0.3% to a 1.260 mln pace in December, following a 3.2% jump to 1.256 mln in November. Building Permits are set at 129M in December. Fed Chair Powell Testifies – Fed Chairman Powell gives his semi-annual report to Congress. He will testify before the Senate Banking Committee. CB Consumer Confidence – It is expected to rise to 124.0 in February, from an 18-month low of 120.2 in January, and versus an 18-year high of 137.9 in October. Support and Resistance [IMG] 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.
FX News Today Asian stock markets started higher after Fed’s Powell reiterated the cautious stance at the US central bank, telling lawmakers that there is “no rush to make a judgment” on further rate hikes. Traders are awaiting the second half of Powell’s testimony, while watching the US-North Korea summit, but after the sharp corrections in the second half of last year markets appear reluctant to push up too far. Dollar gained some against the Euro as CB confidence rose to 131.4, compared to 124.8 last month, while GBP declined from its 1.3272 peak. The Yen continued to rally against both the Euro and the Dollar, currently trading at 110.44 with respect to the latter. Topix and Nikkei closed with gains of 0.20% and 0.50% respectively, while mainland China bourses, which outperformed through much of the session, have erased gains leaving CSI 300 and Shanghai Comp down 0.56% and 0.02%. Small caps underperformed and the Shenzhen Comp is down -0.87%. The Hang Seng meanwhile is still hanging on to a 0.20% gain. US futures are heading south while the front end WTI future lifted to USD 55.88 per barrel. Charts of the Day
[IMG]
Main Macro Events Today
US Durable Goods – Durable goods orders, an important indicator of consumer spending, are expected to have grown by 0.2% in January, compared to 1.2% in December. Canadian Inflation – Probably the country which usually posts the world’s most stable inflation rate, Canada is nonetheless expected to have seen its prices grow by 1.5% y/y in January, compared to 2% in December. Fed Chair Powell Testifies – Fed Chairman Powell continues his semi-annual report before the Senate Banking Committee. Pending Home Sales – Pending Home Sales are expected to have grown by 0.4% m/m, compared to -2.2% in December. Factory Orders – Orders are expected to have increased by 0.5% m/m, compared to a 0.6% reduction in November. Support and Resistance
[IMG]
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.
Dr Nektarios Michail 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.
FX News Today Bond and stock markets came under pressure during the Asian session. The US-North Korea summit ended abruptly and without any ceremony, which weighed on investor sentiment and saw stock markets heading south in Asia. Chinese manufacturing PMI numbers, which fell back to 49.2 from 49.5, and escalating tensions between India and Pakistan added to the risk-off backdrop. Topix and Nikkei both lost -0.79%, the Hang Seng is down -0.19%, CSI and Shanghai Comp lost -0.14% and -0.38%, but the Shenzen Comp managed to claw back some of yesterday’s marked losses. The ASX and Nifty outperformed and managed slight gains. US futures are also heading south, as oil prices are lower on the day and the April WTI future is trading at USD 56.76 per barrel. Oil was a big mover yesterday, up and then down on reports of record US production, after the Inventories showed a draw-down of 8 million barrels against expectations of a increase off 2.8 million. Charts of the Day
[IMG]
Main Macro Events Today US GDP and PCE – US Q4 GDP is expected to have grown by 2.3% on an annualised rate, compared to 3.4% in Q3. PCE inflation is expected to have stood at 1.7%, increasing from 1.5% in the previous quarter. Canada Current Account – The Canadian current account deficit is expected to have widened in the final quarter of 2018, with consensus forecasts standing at 13.5B, compared to 10.3B in the previous quarter. Chicago PMI – The Chicago PMI is expected to have increased to 57, compared to 56.7 in January. Tokyo Core CPI and Japan Unemployment Rate – The Tokyo Core CPI, a proxy for overall Japanese inflation, is expected to have stood at 1% y/y in February, compared to 1.1% in January. Support and Resistance
[IMG] 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.
Dr Nektarios Michail 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.
FX News Today Asian stock markets rallied driven from MSCI, weighted on Bonds. MSCI Inc. announcement that will increase the weight of Chinese stocks in its global benchmarks also underpinned bourses. The strong manufacturing PMI reading out of China, following on the heels of better than feared US GDP readings yesterday helped to underpin risk appetite. The Yen has weakened concomitantly with rising stock markets in Asia. German January retail sales much stronger than expected at 3.3% m/m Eurozone HICP inflation seen ticking up to 1.5% y/y from 1.4%. EURUSD dropped back from 3-week highs to mid 1.13s. USDJPY rallied to 10-week high of 111.80. Gold slide on better US GDP, higher yields and stronger Dollar. Charts of the Day
[IMG] Main Macro Events Today EU Final Manufacturing PMI – They are expected to confirm the overall Eurozone reading at 49.2, which would leave it in contraction territory. EU CPI and core – The overall Eurozone HICP is seen ticking up to 1.5% y/y from 1.4%, while core inflation is likely to hold at just 1.1% y/y. German jobless numbers – Jobless data is seen rising 1K (median -3K), which should leave the jobless rate at a record low of 5.0% Canadian Q4 GDP – GDP for the last Quarter of 2018 is expected to slow to a 1.0% pace (q/q, saar) in January from the 2.0% rate of expansion in Q3, reflecting the hit from the oil price plunge during the quarter. Canadian December GDP – It is seen coming in flat (0.0%) after the 0.1% decline in November, reflecting the drag on the economy from the oil producing sector. US December personal income – It is projected rising 0.5% after a 0.2% rise in November, reflecting strength in December aggregate income. US PCE – A -0.3% decline is seen in real PCE in December, following a 0.3% increase in November. Core PCE Price Index is anticipated at 0.2%m/m from 0.1%m/m. US ISM Manufacturing PMI – The February ISM is expected to slip to 55.0 in February, but from a robust 56.6 reading in January. Support and Resistance
[IMG]
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.
FX News Today A report in the WSJ over the weekend that the US and China closing in on a deal, and that Trump and Xi are to meet on March 27, pushed equities up although nothing is confirmed by Beijing or Washington. USA500 closed over 2800 Friday and holds gains this morning at 2813, while Nikkei closed up 1%. USD holds gains. Oil big down day on Friday with a move to 55.65 from 57.50. Gold closed the week under 1300.00, with trades down at 1294. Big policy week ahead, with ECB, RBA, and BoC interest rate decisions, as well as NFPs on Friday. The Brexit process will remain a key focus for markets this week. Political developments in the UK last week reduced the odds for a no-deal Brexit scenario, although it has always be our conviction that this is a low-risk possibility as the UK parliament will have final say and, given the numbers and strength of view of most MPs, it is hard to conceive that a no deal would be allow to happen. Charts of the Day [IMG]
Main Macro Events Today UK Markit Manufacturing PMI – The UK PMI is expected to have stood at 50.2 in February compared to 50.6 in January, in response to the slowdown in the world economy. Support and Resistance [IMG]
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.
Dr Nektarios Michail 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.
Comments
MACRO EVENTS & NEWS OF 22nd January 2019.
[IMG]
FX News Today
A gloomy IMF outlook: Forecasts for major economies revived recession fears globally and saw risk aversion picking up again.
The IMF warned that the Sino-US trade war, a “no-deal” Brexit and a weakening European economy could lead to a sharp global slowdown.
Topix and Nikkei lost -0.63% and -0.47% respectively.
President Trump calling on China to stop “playing around” and do a “real” trade deal -Added to the negative backdrop for markets.
The Earnings season is also in full swing and reports from UBS this morning disappointed and only added to lingering risk aversion.
USDJPY edged out 2-session low under 109.40; Yen firmer amid risk-off vibe.
EURUSD ebbed to 18-day lows below 1.1350, driven by firming in the Dollar.
WTI Oil prices back under $54.0 after hitting 7-week high yesterday at $54.39.
Charts of the Day
[IMG]
Main Macro Events Today
UK Average Earnings Index 3m/y – Expectations – Average weekly earnings are expected to remain perky in the three months to November, expected at +3.3% y/y in both the with- and ex-bonus figures.
UK Unemployment Rate – Expectations – Unemployment is expected to remain unchanged at 4.1%.
German ZEW Economic Sentiment– Expectations – Seen falling back to -18.3 from -17.5.
Canadian Manufacturing & Wholesale Sales – Expectations – Manufacturing shipment values are expected to drop 1.0% m/m in November after the 0.1% dip in October. Wholesale shipment values are seen falling 0.5% m/m in November after jumping 1.0% in October.
Support and Resistance Levels
[IMG]
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.
MACRO EVENTS & NEWS OF 23rd January 2019.
[IMG]
FX News Today
10-year Treasury yields are down from overnight highs, but still up 0.7 bp at 2.746%, and 10-year JGB yields climbed 0.8 bp to -0.004%.
Stock markets remained cautious during the Asian session.
The Bank of Japan held policy steady, as expected, while further reducing its outlook for inflation. The resulting weakness in the Yen didn’t help stock markets and Topix and Nikkei dropped -0.60% and -0.14% respectively.
The Hang Seng is also down -0.04%, despite mainland China markets initially moving higher as China’s central bank pumped liquidity into the banking system once again. Still, the measures are also a sign that officials are nervous about the slowdown in the economy and CSI 300 and Shanghai Comp are down -0.24% and -0.13%. The bank offered around 258 bln Yuan (USD 38 bln) to banks through its medium term lending tool.
Markets continue to question the progress in the US-Sino trade talks, even though White House adviser Lawrence Kudlow said that the trade talks are still on and the story about cancelled preparatory meetings was “not true, there was never any meeting. We are moving toward negotiations.” The negotiations next week will be “very, very important” and “determinative”.
Meanwhile, there are the first signs of a possible way out of the US government shutdown.
Markets remain easily spooked, but appear to have already priced in a lot of risk last year and US stock futures are moving higher after yesterday’s sell off. Oil prices are trading at USD 53.27 per barrel.
Charts of the Day
[IMG]
Main Macro Events Today
Canadian Retail Sales – After Wholesale Sales plummeted yesterday, Canadian Retail Sales are expected to have also declined by 0.4% m/m, with core Retail Sales (ex autos) expected to have declined by 0.6%.
World Economic Forum at Davos –The second day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility.
Richmond Manufacturing Index – Expectations – The index is expected to have remained at a sub-zero level, standing at -2 after the -8 in the December release.
Support and Resistance Levels
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 24th January 2019.
[IMG]
FX News Today
10-year Bund yields are down -0.6 bp at 0.216% in opening trade. Treasury yields also fell back from overnight highs and are now down -0.2 bp at 2.739%, while JGB yields remain up 0.8 bp at 0.001%.
Stock markets mostly managed to move higher in Asia overnight (excluding the Nikkei which closed with a loss of 0.09%) and DAX futures are also up, while US futures are narrowly mixed and the FTSE 100 future is swinging between gains and losses.
Brexit developments remain in focus, but while in the UK officials continue to struggle to find a consensus on the way forward, the focus in the Eurozone turns to the ECB meeting today.
Rates are widely expected to remain on hold and the guidance little changed, but Draghi is likely to sound much more cautious on the growth and inflation outlook, which should underpin stock markets.
Norges Bank is also expected to hold rates steady and the data calendar focuses on Eurozone PMI readings, which are expected to show further weakness in the preliminary release for January.
US earnings reports have helped to underpin risk appetite in recent days, while the ongoing government shutdown is preventing timely data releases and leaving investors focused on trade talk developments, company news and in Europe, Brexit jitters.
Charts of the Day
[IMG]
Main Macro Events Today
EU Services, Manufacturing, and Composite PMI – The Services PMI is expected to come out at 51.5 in January, compared to 51.2 in December. This is expected to have a positive impact on the Composite PMI, which is expected to rise to 51.4 compared to 51.1 in December. The Manufacturing PMI is expected to have remained at the same levels as in December.
World Economic Forum at Davos – The third day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility.
ECB Interest Rate Decision – ECB is not expected to proceed with any changes in the interest rate yet as it is has just started evaluating the effects from the end of QE in December. However, communication could provide important information regarding the future path of policy.
US Jobless Claims – Initial Jobless Claims are expected to rise to 220k compared to 213k last week, while Continuing Jobless Claims are expected to decline slightly to 1.735M, compared to 1.737M last week.
US Services, Manufacturing, and Composite PMI – Reductions in PMIs are expected in all sectors, in conjunction with the overall perception of a slowdown in the US, and the ongoing government shutdown.
Support and Resistance Levels
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 25th January 2019.
[IMG]
FX News Today
10-year Treasury yields are up 1.6 bp at 2.732% while JGB yields fell back -0.4 bp to -0.008%, despite broad gains on Asian stock markets overnight.
Topix and Nikkei managed gains of 0.87% and 0.97% respectively. The Hang Seng is up 1.44% and the CSI 300 1.23%. The ASX climbed 0.8%, lifted by higher commodity prices.
Earnings reports have helped to prop up market sentiment this week, despite the fact that economists and central banks are now catching up with the gloomy view on the outlook for world growth that already sent markets lower at the end of last year.
The global cyclical chip sector seems to be recovering, which is underpinning tech stocks.
US and European stock futures are also posting broad gains, suggesting an overall positive end to the week, with markets now bracing for key events next week including the continuation of US-Sino trade talks as well as the Fed meeting.
ECB’s Coeure commented that it’s too early to discuss whether ECB will hike rates this year, while adding that the central bank may have to adjust rate guidance at some point. Coeure admitted in a Bloomberg interview that the economic slowdown has surprised the central bank although he also added that the jury is still out on how persistent the slowdown will be.
Charts of the Day
[IMG]
Main Macro Events Today
Baker Hughes US Oil Rig Count – Oil Rigs stood at 852 last week, with the number of drills highly dependent on the price of Oil.
US Monthly Budget Statement – In view of the US government shutdown, the Budget Statement in December is expected to be much lower than the previous month, at a deficit of 12 billion, compared to a deficit of 205 billion in November.
World Economic Forum at Davos – The third day of the WEF annual meetings held in Davos and attended by officials from over 90 countries. Comments from central bankers and other influential officials can create significant market volatility.
German Ifo Business Climate – Following the slowdown in the German economy, business climate is expected to decline to 100.7 compared to 101.0 in the previous month.
Support and Resistance Levels
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 28th January 2019.
[IMG]
FX News Today
10-year Treasury yields corrected from Friday’s highs and are down -1.8 bp at 2.740%.
Stock markets in Asia initially got support from US President Trump’s agreement to a temporary end to the 35-day partial government shutdown which underpinned Wall Street on Friday.
However, Trump also threatened to resume the shutdown on Feb 15 if his demands on the financing of a border wall are not met.
Japan underperformed and Topix and Nikkei were under pressure from the off, while elsewhere gains faded during the course of the session as markets continue to fret over potential risk factors, first and foremost the US-Sino trade talks and Brexit.
Topix and Nikkei lost -0.68% and -0.60% respectively. The Hang Seng is now down -0.105 and the CSI 300 down -0.06%.
Australia is shut for a holiday and US futures are heading south.
Oil prices fell back from a session high of USD 53.64 per barrel and the front end WTI future is now at USD 53.01 per barrel.
Charts of the Day
[IMG]
Main Macro Events Today
ECB Draghi Speech (EUR, GMT 14:00) – The ECB President is due to testify at the European Parliament in Brussels.
New Zealand Trade Balance (NZD, GMT 22:45) – The New Zealand trade balance is expected to have come out in surplus area in December, compared to a deficit in November.
Support and Resistance Levels
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 30th January 2019.
[IMG]
FX News Today
Stock markets traded mixed in Asia – NASDAQ is outperforming, Nikkei lost -0.52% and UK100 futures are moving higher.
No more bad news from Apple: Apple Inc.’s report of sharp growth in its services business helped to underpin sentiment,.
Brexit: UK lawmakers didn’t vote to extend the Brexit deadline. PM May heads back to Brussels to re-negotiate backstop.
EU leaders were once again quick to stress that the legal text of the withdrawal agreement is not up for discussion.
French GDP numbers held up better than expected and German GfK consumer confidence unexpectedly jumped higher.
EURUSD ebbed back to net unchanged (1.1430) after posting 2-week high at 1.1451.
USDJPY stucks in the mid-to-low 109.0s.
GBPUSD is trading near 1.3100 from 1.3190 high.
The front end WTI future is trading at USD 53.42 per barrel.
Charts of the Day
[IMG]
Main Macro Events Today
German Jan HICP – Expectations -While the German HICP rates are above the Eurozone average now, base effects from lower energy prices continue to keep the headline rate below the ECB’s 2% limit. The preliminary January reading should be at 1.8% y/y .
ADP Employment – Expectations –The January ADP Employment report should reveal a 195k gain for the month, after a 271k December gain.
FOMC – Expectations – The FOMC statement will be released at 19:00 GMT. That will be followed by Chairman Powell’s press conference, which will now be a regular affair at each meeting, although forecasts will continue to be published quarterly. No one expects any action on rates tomorrow (including IOER). We expect the statement to include the new watchword “patient,” along with “flexible,” with the latter perhaps a nod to the balance sheet, and stress on data dependency.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 31st January 2019.
[IMG]
FX News Today
Asian stock markets rallied after the FOMC, which boosted risk appetite.
FOMC held policy steady and pledged to be patient with further interest rate hikes – a possible sign that the Fed is signalling a potential end to its tightening cycle.
Topix and Nikkei climbed 1.08% and 1.06% respectively.
US Equities firmed after Apple, Boeing, AMD results.
German Retail Sales slumped 4.3% m/m at the start of the European session. It raised concerns about the health of the German economy.
European futures are moving higher, in tandem with US futures, after a rally overnight.
WTI crude +2.0% near $54.50 after small EIA build.
USDIndex stumbled 0.45% to 95.40; EUR probed 1.15, JPY through 109.00.
Charts of the Day
[IMG] Main Macro Events Today
Eurozone Prelim. Flash GDP – Expectations – Overall Eurozone GDP should show growth holding at 0.2% q/q, but with risk to the downside.
German and EU Unemployment Change – Expectations – A decline is anticipated in the German unemployment number of -4K. The December Eurozone unemployment rate is seen falling back to 7.8% from 7.9%.
Canadian GDP – Expectations – GDP for November is on track to contract 0.1% in November (m/m, sa) as the sharp decline in oil prices materially impacted the economy.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 1st February 2019.
[IMG]
FX News Today
US-Sino trade talks will continue later this month with the March 1 deadline for tariff hikes coming ever closer. Both sides sounded cautiously optimistic
Stock markets traded mixed in Asia. Topix and Nikkei closed with a gain of -0.18% and a marginal gain of 0.07% respectively.
China’s manufacturing PMI decline dropped to the lowest level since February 2016. This revived concerns about the country’s economic strength.
Earnings reports continue to come into the mix and banks were the biggest drag on Japanese benchmarks, while electronics makers gained.
European stock futures are moving higher and US futures are now also mostly up as the focus shifts to US jobs data.
The WTI rallied as much as 2%, peaking at two-plus month highs of $55.32 before falling back to the current $53.80.
EURUSD eased from 3-week highs, back to 1.1440 area. USDJPY is above 2-week lows and currently retesting 109.
Charts of the Day
[IMG]
Main Macro Events Today
Eurozone Manuf. PMI – Expectations – January Eurozone Manufacturing PMI will likely be confirmed at just 50.5 from the preliminary print, dropping from December’s 51.4, with confidence data adding to concerns that the slowdown will be more protracted than initially expected.
Eurozone’s CPI – Expectations –Eurozone preliminary CPI reading for January should be at just 1.5% y/y, down from 1.6% y/y at the end of 2018.
US Nonfarm Payrolls and ISM Manu. PMI – Expectations – January nonfarm payrolls are expected to increase by 200k, with a 195k private payroll gain. The ISM is expected to slip to a new 2-year low of 54.0 in January from 54.3 in December, versus a 14-year high of 61.4 in August.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 4th February 2019.
[IMG]
FX News Today
10-year Treasury yields are up 0.7 bp at 2.691%, and 10-year JGB yields climbed 0.8 bp to -0.023%.
Yields continue to move higher and Asian stock markets mostly managed modest gains in quiet trade, with China and South Korea closed for Lunar New Year celebrations.
Topix and Nikkei managed gains of 1.07% and 0.46% respectively, while the Hang Seng climbed 0.21% and the ASX closed up 0.48%. US futures are marginally higher.
US President Trump told CBS trade talks with China are “doing very well” and also sounded confident on an agreement with North Korea, which helped to underpin confidence and risk appetite, after strong US data releases on Friday dampened concern about the outlook for world growth and counterbalanced disappointing forecasts from Amazon.
Earnings reports will remain a key factor this week alongside fundamentals and political developments in Europe also, where Brexit concerns remain high on the agenda.
Charts of the Day
[IMG]
Main Macro Events Today
ECB Mersch Speech – Yves Mersch, a member of the ECB Executive Board will speak at Lamfalussy Lectures Conference of Lamfalussy Award at Central Bank of Hungary in Budapest
UK Construction PMI – The UK PMI is expected to have stood at 52.6 in January, compared to 52.8 in December.
US Factory Orders – Factory Orders are expected to have grown by 0.2% in November, compared to -2.1% in October.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 5th February 2019.
[IMG]
FX News Today
RBA left the cash rate on hold as expected and conceded that some downside risks have increased. RBA set to make subtle shift to the dovish side.
RBA’s central scenario for the economy is around 3% growth in 2019.
AUDUSD perked up to 0.7260 from 0.7204.
Alphabet beat on profits and revenue, by making $8.94 billion on $39.27 billion revenue, but shares fell 3% on continuing pressure on advertising prices and decreasing margins.
European stock futures are moving higher, while US futures are struggling and slightly in the red.
Better than expected BRC retail sales out of the UK helped to underpin sentiment ahead of Services PMI.
WTI retreated 1.2% to $54.0 area, down from 2019 highs of $55.74 bbl – Currently at $55.00 area.
Charts of the Day
[IMG]
Main Macro Events Today
Eurozone Services PMI – The overall Eurozone Services PMI for January is expected to come in unchanged from the preliminary number at 50.8, which should leave the composite at 50.7.
UK Service PMI – It is expected to come in with a headline of 51.0 after 51.2 in December.
EU Retail Sales – They are expected to have corrected -1.8% m/m, after the strong November reading.
US Service and ISM Non-Manufacturing PMI – The ISM-NMI Index is expected to slip further to 57.5 in January from 58.0 in December, versus a 13-year high of 60.8 in September. Services PMI is expected to be unchanged at 54.2 for January.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 6th February 2019.
[IMG]
FX News Today
Asian stock markets had another lacklustre session.
In Europe, Bunds got another boost from the much weaker than expected German orders number. Manufacturing orders down -1.6% m/m.
RBA shifted to a neutral stance: RBA Governor Philip Lowe mentioned that the ‘interest rate outlook is now more evenly balanced’.
AUD tumbled in tandem with 10-year rates, which dropped -6.3 bp to 2.180%.
EURUSD at 12-day lows under 1.1400; GBPUSD drifted back below 1.3000.
WTI future is trading at USD 53.66, after falling back from levels over USD 55 yesterday.
Charts of the Day
[IMG]
Main Macro Events Today
US Trade Balance – The November trade deficit is expected to narrow to -$54.0 bln from -$55.5 bln.
Nonfarm Productivity and Labor Costs – Nonfarm productivity growth is pegged at 2.5% in Q4, following a Q3 trimming to 1.7% from 2.3%, while unit labor costs may rise 1.5%.
Canadian Ivey PMI – The January Ivey PMI is expected to improve to a seasonally adjusted 62.0 from 59.7 in December.
NZ Employment Change – The ISM-NMI Index is expected to slip further to 57.5 in January from 58.0 in December, versus a 13-year high of 60.8 in September. Services PMI is expected to be unchanged at 54.2 for January.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 7th February 2019.
[IMG]
FX News Today
10-year Treasury yields are down 0.5 bp at 2.690% but JGB yields are up 1.3 bp at -0.016%, despite a 0.59% decline in the Nikkei and a 0.83% drop in the Topix amid another mixed session in Asia.
Japanese shares were hit by corporate earnings, while the ASX continued to rally, gaining 1.10%, in tandem with local bonds after the dovish shift at the RBA this week.
The RBI meanwhile surprised with a cut in the repo rate by a quarter point. Hong Kong and China remained closed and despite some movement, investors continue to hold back ahead of the next round of US-Sino trade talks next week.
US futures are heading south despite a cautiously upbeat assessment of the economy from Fed Chairman Powell, who said “the US economy is now in a good place”.
The front end WTI future managed a session high of USD 54.04 before falling back to USD 53.79 per barrel.
Charts of the Day
[IMG]
Main Macro Events Today
Theresa May meetings in Brussels – Theresa May and the European Commission’s president will meet today, with the UK PM hoping to obtain fresh concessions, despite the EU’s insistence that it will not renegotiate the Brexit deal. In late afternoon, May is also expected to meet with Donald Tusk, the European Council President.
BoE Interest Rate Decision – BoE is not expected to bring forth any changes to its interest rate policy ahead of a Brexit agreement and thus the rate is expected to remain at 0.75%.
BoE Carney Speech – Mark Carney is expected to speak along with other MPC members about the BoE inflation report.
Fed Clarida Speech – FOMC Member, Richard Clarida is due to speak at the Czech National Bank’s conference about the neutral interest rate, with audience questions expected.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 8th February 2019.
[IMG]
FX News Today
10-year Treasury yields are down -1.1 bp and JGB yields dropped -1.7 bp to -0.038% as Asian stocks tumbled on growth concerns and pessimism on US-Sino relations, with markets worrying that there won’t be a trade deal in time to prevent another round of tariff hikes.
Asked whether he would meet Chinese President Xi Jinping before the March 1 deadline US President Trump said “No”, before adding “unlikely”, although he suggested they would “maybe” meet later.
Topix and Nikkei lost -1.86% and -1.96% respectively today. The Hang Seng fell back -0.215, after returning from holiday, while mainland China markets remained closed.
The ASX is down after the RBA slashed its growth projection to 2.5% from 3.25% with its quarterly statement on monetary policy today. The CPI forecast was cut to 1.25%.
Growth warnings in Europe yesterday saw European and US markets closing with broad losses. The negative growth backdrop and heightened risk aversion is keeping bond markets supported.
Oil prices fell back to USD 52.26 per barrel.
Fed’s Bullard promotes caution on balance sheet unwind. He declined to say how close the Fed is to ending balance sheet unwind process but said “We are closer than I thought we were a year ago”.
Charts of the Day
[IMG]
Main Macro Events Today
Russia Interest Rate Decision – No surprises are expected from the Russian Central Bank which is expected to keep its interest rate at 7.75%.
Canada Labour Market Data – Canadian data are expected to show a slight deterioration in the economy in January, as net change in employment is forecast to be lower than December while the unemployment rate is forecast to have grown to 5.7%, compared to 5.6% in December.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 11th February 2019.
[IMG]
FX News Today
Stocks in Asia traded mixed, amid lingering concerns over US-Sino trade relations and doubt whether the talks will bring sufficient progress to prevent another round of punitive tariffs.
Chinese equities rallied after returning from last week’s holiday, with small caps and stocks in the tech hub of Shenzhen rallying. The Hang Seng was up 0.46% as of 6:30GMT the CSI 300 up 1.62% and Shanghai and Shenzen Comp climbed 1.18% and 2.58% respectively.
Japanese markets were closed for a holiday, so Treasury futures won’t trade either until Europe opens.
Elsewhere in Asia bonds traded mixed with Australia outperforming as the ASX underperformed and dropped -0.17%.
Chinese Vice Premier Liu He will meet Treasury Secretary Mnuchin and Trade Representative Lightizer in Beijing for high level talks this week.
Meanwhile the government in Washington may be heading for another shutdown, which is adding to caution in wider markets.
US futures are slightly in the red, while European futures moved slightly higher. The front end WTI future is trading at USD 52.22 per barrel.
Charts of the Day
[IMG]
Main Macro Events Today
Swiss CPI – The inflation rate in Switzerland is expected to have stood at 0.6% y/y in January, down from 0.7% y/y in December.
UK GDP and Production Data – UK GDP is expected to have stood at 1.4% y/y in the final quarter of 2018, compared to 1.5% y/y growth in Q3. Manufacturing production is expected to have declined by 0.7% y/y, compared to a decline of 1.1% y/y in November. Industrial Production is expected to have increased by 0.2% m/m, compared to a decline of 0.4% in November.
US Unit Labour Cost – US Unit Labour Cost growth are expected to have stood at 1.7% in 2018Q4, compared to 0.9% in the third quarter.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 12th February 2019.
[IMG]
FX News Today
Stock markets remain supported by improving risk appetite, with investors hoping for progress in US-Sino trade talks.
Japanese markets outperformed in catch up trade on returning from yesterday’s holiday and underpinned by a weaker yen.
US lawmakers have reached an “agreement in principle” on funding for border security that would stop a second government shutdown on Friday.
Brexit concerns continue to linger.
Comments from ECB’s Lane, has underpinned speculation that Draghi will rule out another rate hike this year amid the expected downward revisions to growth forecasts.
The front end WTI future is trading at USD 52.55 per barrel.3
EURUSD went sub-1.1300 for first time in 6 weeks on generally firmer dollar.
USDJPY rallied to 6-wk high of 110.64, underpinned by rally in global stocks.
Charts of the Day
[IMG]
Main Macro Events Today
German President Weidmann speech – German President Weidmann is due to deliver a speech titled “The role of the central bank in a modern economy – a European perspective” at the University of South Africa, in Pretoria.
BoE Carney speech – Due to speak about the economic outlook and global trade tensions, in London.
Fed Chair Powell speech – Due to deliver a speech titled “Economic Development in High Poverty Rural Communities” at the Hope Enterprise Corporation Rural Policy Forum, in Mississippi.
Fed Mester and George speech – Cleveland Fed hawk Mester will update the economic outlook and policy, while KC Fed hawk George will discuss “Charting America’s Economic Course.” Though both have been two of the most hawkish on the FOMC, each has recently indicated a pause is in order currently.
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.
MACRO EVENTS & NEWS OF 13th February 2019.
[IMG]
FX News Today
10-year Treasury yields are up 0.5 bp at 2.693% and JGB yields lifted 1.2 bp to -0.0013%.
Stocks were supported by trade talk hopes as US President Donald Trump’s suggestion that he could see letting the March 1 deadline on China tariffs slide a little if the two sides were close to a complete deal helped to underpin sentiment.
The negative sentiment that dominated much of the last months of 2018 continues to unwind, but markets will ultimately have to see permanent solutions and real results, otherwise they remain at risk of sliding back again.
For now though markets are mostly in a positive mood and while the ASX closed with a loss of -0.26%, Topix and Nikkei rallied 1.06% and 1.34% respectively. The Hang Seng is up 1.21%, China’s blue chip index CSI is up 2.1% and the Shanghai Composite 1.92%.
US futures are equally moving higher, as are European futures.
Oil prices have also come back from the lows seen early in the week and the front end WTI future is trading at USD 53.64 per barrel.
The calendar today has inflation releases for the UK and the US, with the Riksbank meeting not expected to post any surprises.
Charts of the Day
[IMG]
Main Macro Events Today
UK Price Indices – The UK’s Price Indices are expected to continue close to their December levels, however at mixed outcomes. The Retail Price Index is expected to stand at 2.6% y/y compared to 2.7% last month, the PPI to increase to 3.8% y/y compared to 3.7%, while the CPI is expected to have stood at 1.9% compared to 2.1% in December.
EU Industrial Production – Industrial production in the European Union is expected to continue its decline albeit at a slower pace, with a reduction of 0.4% m/m expected in the December data, compared to a 1.7% reduction in November.
US CPI Inflation – Inflation is expected to have declined in the US, in association with the prevailing understanding of a slowdown in the economy, with the CPI expected to have increased by 1.5% y/y, compared to 1.9% y/y in December. Core CPI is expected to have increased by 2.1% y/y compared to 2.2%.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 14th February 2019.
[IMG]
FX News Today
10-year Treasury yields are up 0.2 bp at 2.704% and JGB yields fell back -0.8 bp to -0.025% as the rally on stock markets faded.
Wall Street still closed with slight gains, but there wasn’t enough momentum to sustain a further broad move higher in Asia.
Topix and Nikkei closed little changed and the Hang Seng is down -0.26% while CSI 300 and Shanghai Comp are up 0.33% and 0.13% respectively, after Chinese data showed a rebound in exports at the start of the year.
The tech hub of Shenzhen outperformed with a gain of 0.93%, but the ASX closed with a marginal loss.
US futures as well as European futures are moving higher though, so there is still some life in markets after reports that the US is considering delaying China tariffs for 60 days. President Trump had already told reporters that trade talks are making good progress.
Charts of the Day
[IMG]
Main Macro Events Today
EU GDP – The common currency’s GDP is expected to have grown by 1.2% y/y in the final quarter of the year, the same growth rate recorded in Q3.
US Retail Sales – One of the most important indicators of consumption, Retail Sales ex Autos are expected to have grown by 0.1% m/m in December, compared to 0.2% m/m in November.
US PPI Inflation – In accordance with the slowdown picture in the US, PPI inflation is expected to have slowed to 2.5% y/y in January, compared to 2.7% y/y in December.
US Jobless Claims – Continuing Jobless Claims are expected to have increased to 1.74M on the week ending at January 8, compared to 1.736M last week. Initial Jobless Claims are expected to have decreased to 225K compared to 234K the previous week.
Brexit Vote –Theresa May has put a new motion before Parliament asking to allow her to continue negotiating, in order to seek changes to the backstop.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 15th February 2019.
[IMG]
FX News Today
USD under pressure from that weak data yesterday, as US retail sales mix has revived concerns about the global growth outlook and without tangible results, markets seem unwilling to invest any more in trade talk hopes.
Euro slipped under 1.1300 (1.285), as Germany’s flirt with recession has also shifted the focus to flagging growth in Europe, which has its own trade dispute with the US.
GBP pressured from another lost Brexit vote for the Government, moving under 1.2800.
Overnight Chinese CPI and PPI both missed expectations and Japanese Industrial Production remained woeful. Gains in AUD (under 0.7100) and NZD (0.6825) were reduced.
Stock markets closed narrowly mixed on Wall Street with the USA100 managing a slight gain, while USA30 and USA500 were pressured by disappointing Retail Sales.
In Asia most markets headed south, with Chinese indices underperforming. CSI and Shanghai Comp had rallied in recent sessions on hopes that another round of punitive tariffs could be avoided and that Trump would push out the March 1 deadline to give talks more time to progress, but the blue chip CSI 300 lost 1.58% today and the Shanghai Comp lost 1.13%, while the tech hub of Shenzen outperformed slightly, but also declined by 0.27%. The JPY dropped to 110.28 while Topix and Nikkei closed with losses of 0.79% and 1.13% respectively and the Hang Seng declined by 1.86%.
US futures are also broadly lower, suggesting a somber close to the week. Oil prices tested the USD 55 per barrel mark before returning to $55.54 per barrel.
Charts of the Day
[IMG]
Main Macro Events Today
UK Retail Sales – Retail Sales ex-Fuel are expected to have increased in January, to 3.0% y/y, compared to 2.6% in December.
US Industrial Production – Industrial Production is expected to have increased by 0.1% m/m in January, compared to 0.3% m/m in the previous month.
Michigan Consumer Sentiment – Sentiment is expected to have rebounded as markets anticipate that the preliminary reading will see it increase from 91.2 in January to 93.0 in February.
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 18th February 2019.
[IMG]
FX News Today
Japanese bond yields increased, outperforming against most other bonds in Asia as stock markets rallied.
Trade optimism, improving credit data out of China and better than expected machinery orders in Japan boosted risk appetite and Topix and Nikkei closed with gains of 1.6% and 1.8% respectively.
The Hang Seng is up 1.7% as CSI 300 and Shanghai Comp have gained 2.9% and 2.4% respectively so far.
US President Trump said over the weekend that talks were “very productive” and China’s President Xi Jinping said the latest round of meetings “achieved important progress in another step”, which fueled optimism that another round of punitive tariffs can be avoided.
Improved credit data out of China meanwhile helped to calm concerns about growth prospects in the country.
US futures are narrowly mixed and European stock markets marginally higher, so it remains to be seen whether the rally will be sustained.
The front end WTI future is trading at USD 55.93 per barrel, after testing highs over USD 56.
US markets are closed today and there was no trade in Treasuries.
Charts of the Day
[IMG]
Main Macro Events Today
US Presidents’ Day – US Markets closed today for a public holiday.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 19th February 2019.
[IMG]
FX News Today
Mixed session on Asian stock markets.
Japan’s central bank: “We won’t rule out further easing measures.”
US-China trade talks resume for an extended second week in Washington after terminating in Beijing last week with “progress” but without resolution.
In Europe, Trump’s threat of auto tariffs and Brexit talks dominate ahead of tomorrow’s Fed minutes.
President Trump has 90 days to decide whether to act on the probe into whether imported vehicles pose a national security threat.
AUDJPY has been the biggest mover in a day of directionally challenged markets, as participants wait on progress from the US-China trade talks.
Cable has lodged back above 1.2900.
Crude Oil prices meanwhile are trading close to three-month highs.
Charts of the Day
[IMG]
Main Macro Events Today
German ZEW Investor Sentiment – A slight improvement is expected, to -14.0, which is actually a tad more pessimistic than Bloomberg consensus, which expects a rise to -13.5 from -15.0.
UK Unemployment – Unemployment rate is expected to come in unchanged at the multi-decade low 4.0%
UK Average Earnings – The average household income is anticipated to rise 3.5% y/y in the three months to December, up from 3.3% in the month prior, which would be a new cycle high for this metric.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 20th February 2019.
[IMG]
FX News Today
Bund yields lower in opening trade, Equity markets mostly higher in Asia.
Stock markets in Asia remained underpinned by hopes of a US-Sino trade deal.
Wall Street closed higher, helped by positive earnings at Walmart Inc. Fresh.
President Trump meanwhile suggested that March 1 tariff deadline is not cast in stone, so there is hope that further tariffs can be avoided.
Japan’s exports fell 8.4% in January, while imports declined 0.6% y/y. The contraction in exports seems consistent with escalating concern that Japan’s export sector will be dented this year by global trade frictions and the slowing in China’s economy.
The Yuan lifted after a Bloomberg report saying the US was looking for a pledge from China that it will not devalue its yuan currency as part of the trade deal.
USDJPY has climbed to 110.91 from 110.60, amid cautious risk-on theme
WTI crude edged out fresh 3-month high of $56.77.
Charts of the Day
[IMG]
Main Macro Events Today
Juncker and May meet for another round of crunch talks in Brussels today.
EU Consumer Confidence – The overall Eurozone number Consumer Price Index (M/M) on course to be confirmed at 1.4% y/y.
FOMC minutes – The focus turns on the FOMC minutes to the January 29, 30 policy meeting as we look to glean more information on the Fed’s pivot to a more dovish point of view, even as rates were left unchanged. We did get a glimpse from Chairman Powell’s press conference, where he noted tighter financial conditions, along with tame inflation. And he said the onus is on price pressures to force a rate move.
Australian labour data – The unemployment rate is seen holding steady at 5.0%.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 21st February 2019.
[IMG]
FX News Today
Asian equities initially rallied after Fed minutes promised patience on further policy action but most have moved down from earlier highs.
Hopes that the US and China are nearing a deal on trade have risen after an unnamed source cited by Reuters said the two sides have started to outline commitments in principle in what is described as the most significant progress yet.
The JPY225 closed with a gain of just 0.15%, while the Topix was unchanged from yesterday. The Hang Seng is up 0.03% and mainland China indices are also little changed.
The AUS200 outperformed and rallied 0.70%, after better than expected jobs data.
US futures are stronger after Reuters reports outlined progress in US-Sino trade talks and European futures are also moving higher.
The March WTI futures are trading at USD 57.33 per barrel.
Charts of the Day
[IMG]
Main Macro Events Today
EU PMIs – EU Manufacturing PMI is expected to have declined to 50.3 in February, compared to 50.5 last month, dangerously close to the 50 threshold. Services PMI is expected to have increased to 51.4, compared to 51.2 in January, hence pushing the overall Composite PMI higher to 51.1, compared to 51.0 in the previous month.
Philly Fed Index – The Philly Fed Manufacturing Index is expected to have declined to 14, compared to 17 in January, still registering a positive effect.
Durable Goods – Durable goods are expected to come out registering positive growth for December, compared to negative for November.
US PMIs – Manufacturing is expected to have declined in the US, similar to the EU, reaching 54.7 compared to 54.9 last month, while Services are expected to have slightly grown to 54.3 compared to 54.2 in January.
Existing Home Sales – Home Sales are expected to have remained at more or less the same levels, at 5M, compared to 4.99M last month.
CB Leading Index – The Conference Board Index is expected to have shown a 0.1% m/m increase in January, compared to the 0.1% m/m contraction in December.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 22nd February 2019.
[IMG]
FX News Today
Both Topix and Nikkei, declined during the Asian session, with -0.25% and -0.18% respectively.
Overall, stock markets in Asia struggled through most of the session as subdued inflation data rekindled concerns about a lack of demand and flagging growth and after Wall Street closed in the red.
News that US President Trump will meet with China’s top trade negotiator today in Washington seems to have helped Chinese markets to stage a late rally and CSI 300 and Shanghai Comp are up 1.76% and 1.51% respectively and the Hang Seng also managed to claw back losses and is up 0.11%.
US stock futures are posting marginal gains and the April WTI future is trading at just over USD 57 per barrel.
USDCAD rallied over 1.32 to 1.3225, as Oil inventories rose, with the US at record production levels. Oil price is now back around the $57 mark.
Japanese CPI data same as forecasts, pushing the Yen higher.
Charts of the Day
[IMG]
Main Macro Events Today
EU CPI Inflation – Core inflation is expected to be confirmed at 1.1% y/y while the overall inflation rate is expected to have stood at 1.4% in January.
Canadian Retail Sales – Retail Sales are expected to have declined by 0.3% m/m in December, an improvement from the 0.6% declined observed in November.
Mario Draghi Speech – The ECB President is due to speak to the University of Bologna where he will accept an honourary degree.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 25th February 2019.
[IMG]
FX News Today
A rally in Chinese equities led to a broad rise in Asian stock markets, after confirmation from US President Trump that he will delay the planned increase in tariffs on Chinese goods, which had been scheduled to start in March.
This saw the CSI 300 and Shanghai Comp rallying 5.58% and 5.29% respectively.
The Hang Seng rose 0.44%, while Topix and Nikkei gained 0.71% and 0.48% respectively, as Trump cited “substantial progress” in the talks and said that he would plan a summit meeting with China’s President Xi Jinping at his Mar-a-Lago estate to conclude an agreement, if there is additional progress.
More concrete signs then that trade tensions can be resolved through talks and US futures are moving higher, while the April WTI future is trading at USD 57.16 per barrel.
USD traded mixed at 1.1345 against the Euro and at 110.60 against the Yen.
No Brexit Vote this week after all but one should take place by March 12.
Charts of the Day
[IMG]
Main Macro Events Today
BoE Carney Speech – The BoE Governor is due to hold a press conference in London.
FOMC Clarida Speech – Richard Clarida is expected to participate in a moderated discussion titled “A conversation with Community Leaders” in Dallas, Texas.
Wholesale Inventories – The change in the total value of goods held by wholesalers is expected to stand at 0.3%, the same rate as the previous month.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 25th February 2019.
[IMG]
FX News Today
A rally in Chinese equities led to a broad rise in Asian stock markets, after confirmation from US President Trump that he will delay the planned increase in tariffs on Chinese goods, which had been scheduled to start in March.
This saw the CSI 300 and Shanghai Comp rallying 5.58% and 5.29% respectively.
The Hang Seng rose 0.44%, while Topix and Nikkei gained 0.71% and 0.48% respectively, as Trump cited “substantial progress” in the talks and said that he would plan a summit meeting with China’s President Xi Jinping at his Mar-a-Lago estate to conclude an agreement, if there is additional progress.
More concrete signs then that trade tensions can be resolved through talks and US futures are moving higher, while the April WTI future is trading at USD 57.16 per barrel.
USD traded mixed at 1.1345 against the Euro and at 110.60 against the Yen.
No Brexit Vote this week after all but one should take place by March 12.
Charts of the Day
[IMG]
Main Macro Events Today
BoE Carney Speech – The BoE Governor is due to hold a press conference in London.
FOMC Clarida Speech – Richard Clarida is expected to participate in a moderated discussion titled “A conversation with Community Leaders” in Dallas, Texas.
Wholesale Inventories – The change in the total value of goods held by wholesalers is expected to stand at 0.3%, the same rate as the previous month.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 26th February 2019.
[IMG]
FX News Today
Stock markets outside of mainland China headed south.
The first offshore default by a Chinese state owned company in 20 years sparked a fresh wave of risk aversion and concerns over the health of the Chinese economy, as it has failed to repay a US dollar bond in Hong Kong.
Border tensions between India and Pakistan added to the risk-off sentiment.
European stock futures are also heading south, in tandem with US futures,amid ongoing Brexit uncertainty.
German GfK consumer confidence held steady at 10.8 in the advanced reading for March, unchanged from the February reading.
WTI crude dropped $2.00/bbl on Pres Trump tweet “Oil prices getting too high.”
USDJPY fell amid risk-on theme, but still above 110.70.
EURUSD firmer to around 1.1350 area.
Gold is still unable to move decisively past the 1330 mark.
Charts of the Day
[IMG]
Main Macro Events Today
Inflation Report Hearings
UK Prime Minister Theresa May will update parliament today.
US Housing data – Housing starts are estimated to rise 0.3% to a 1.260 mln pace in December, following a 3.2% jump to 1.256 mln in November. Building Permits are set at 129M in December.
Fed Chair Powell Testifies – Fed Chairman Powell gives his semi-annual report to Congress. He will testify before the Senate Banking Committee.
CB Consumer Confidence – It is expected to rise to 124.0 in February, from an 18-month low of 120.2 in January, and versus an 18-year high of 137.9 in October.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 27th February 2019.
[IMG]
FX News Today
Asian stock markets started higher after Fed’s Powell reiterated the cautious stance at the US central bank, telling lawmakers that there is “no rush to make a judgment” on further rate hikes.
Traders are awaiting the second half of Powell’s testimony, while watching the US-North Korea summit, but after the sharp corrections in the second half of last year markets appear reluctant to push up too far.
Dollar gained some against the Euro as CB confidence rose to 131.4, compared to 124.8 last month, while GBP declined from its 1.3272 peak. The Yen continued to rally against both the Euro and the Dollar, currently trading at 110.44 with respect to the latter.
Topix and Nikkei closed with gains of 0.20% and 0.50% respectively, while mainland China bourses, which outperformed through much of the session, have erased gains leaving CSI 300 and Shanghai Comp down 0.56% and 0.02%.
Small caps underperformed and the Shenzhen Comp is down -0.87%.
The Hang Seng meanwhile is still hanging on to a 0.20% gain.
US futures are heading south while the front end WTI future lifted to USD 55.88 per barrel.
Charts of the Day
[IMG]
Main Macro Events Today
US Durable Goods – Durable goods orders, an important indicator of consumer spending, are expected to have grown by 0.2% in January, compared to 1.2% in December.
Canadian Inflation – Probably the country which usually posts the world’s most stable inflation rate, Canada is nonetheless expected to have seen its prices grow by 1.5% y/y in January, compared to 2% in December.
Fed Chair Powell Testifies – Fed Chairman Powell continues his semi-annual report before the Senate Banking Committee.
Pending Home Sales – Pending Home Sales are expected to have grown by 0.4% m/m, compared to -2.2% in December.
Factory Orders – Orders are expected to have increased by 0.5% m/m, compared to a 0.6% reduction in November.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 28th February 2019.
[IMG]
FX News Today
Bond and stock markets came under pressure during the Asian session.
The US-North Korea summit ended abruptly and without any ceremony, which weighed on investor sentiment and saw stock markets heading south in Asia.
Chinese manufacturing PMI numbers, which fell back to 49.2 from 49.5, and escalating tensions between India and Pakistan added to the risk-off backdrop.
Topix and Nikkei both lost -0.79%, the Hang Seng is down -0.19%, CSI and Shanghai Comp lost -0.14% and -0.38%, but the Shenzen Comp managed to claw back some of yesterday’s marked losses.
The ASX and Nifty outperformed and managed slight gains.
US futures are also heading south, as oil prices are lower on the day and the April WTI future is trading at USD 56.76 per barrel.
Oil was a big mover yesterday, up and then down on reports of record US production, after the Inventories showed a draw-down of 8 million barrels against expectations of a increase off 2.8 million.
Charts of the Day
[IMG]
Main Macro Events Today
US GDP and PCE – US Q4 GDP is expected to have grown by 2.3% on an annualised rate, compared to 3.4% in Q3. PCE inflation is expected to have stood at 1.7%, increasing from 1.5% in the previous quarter.
Canada Current Account – The Canadian current account deficit is expected to have widened in the final quarter of 2018, with consensus forecasts standing at 13.5B, compared to 10.3B in the previous quarter.
Chicago PMI – The Chicago PMI is expected to have increased to 57, compared to 56.7 in January.
Tokyo Core CPI and Japan Unemployment Rate – The Tokyo Core CPI, a proxy for overall Japanese inflation, is expected to have stood at 1% y/y in February, compared to 1.1% in January.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.
MACRO EVENTS & NEWS OF 1st March 2019.
[IMG]
FX News Today
Asian stock markets rallied driven from MSCI, weighted on Bonds.
MSCI Inc. announcement that will increase the weight of Chinese stocks in its global benchmarks also underpinned bourses.
The strong manufacturing PMI reading out of China, following on the heels of better than feared US GDP readings yesterday helped to underpin risk appetite.
The Yen has weakened concomitantly with rising stock markets in Asia.
German January retail sales much stronger than expected at 3.3% m/m
Eurozone HICP inflation seen ticking up to 1.5% y/y from 1.4%.
EURUSD dropped back from 3-week highs to mid 1.13s.
USDJPY rallied to 10-week high of 111.80.
Gold slide on better US GDP, higher yields and stronger Dollar.
Charts of the Day
[IMG]
Main Macro Events Today
EU Final Manufacturing PMI – They are expected to confirm the overall Eurozone reading at 49.2, which would leave it in contraction territory.
EU CPI and core – The overall Eurozone HICP is seen ticking up to 1.5% y/y from 1.4%, while core inflation is likely to hold at just 1.1% y/y.
German jobless numbers – Jobless data is seen rising 1K (median -3K), which should leave the jobless rate at a record low of 5.0%
Canadian Q4 GDP – GDP for the last Quarter of 2018 is expected to slow to a 1.0% pace (q/q, saar) in January from the 2.0% rate of expansion in Q3, reflecting the hit from the oil price plunge during the quarter.
Canadian December GDP – It is seen coming in flat (0.0%) after the 0.1% decline in November, reflecting the drag on the economy from the oil producing sector.
US December personal income – It is projected rising 0.5% after a 0.2% rise in November, reflecting strength in December aggregate income.
US PCE – A -0.3% decline is seen in real PCE in December, following a 0.3% increase in November. Core PCE Price Index is anticipated at 0.2%m/m from 0.1%m/m.
US ISM Manufacturing PMI – The February ISM is expected to slip to 55.0 in February, but from a robust 56.6 reading in January.
Support and Resistance
[IMG]
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.
MACRO EVENTS & NEWS OF 4th March 2019.
[IMG]
FX News Today
A report in the WSJ over the weekend that the US and China closing in on a deal, and that Trump and Xi are to meet on March 27, pushed equities up although nothing is confirmed by Beijing or Washington.
USA500 closed over 2800 Friday and holds gains this morning at 2813, while Nikkei closed up 1%. USD holds gains.
Oil big down day on Friday with a move to 55.65 from 57.50. Gold closed the week under 1300.00, with trades down at 1294.
Big policy week ahead, with ECB, RBA, and BoC interest rate decisions, as well as NFPs on Friday.
The Brexit process will remain a key focus for markets this week. Political developments in the UK last week reduced the odds for a no-deal Brexit scenario, although it has always be our conviction that this is a low-risk possibility as the UK parliament will have final say and, given the numbers and strength of view of most MPs, it is hard to conceive that a no deal would be allow to happen.
Charts of the Day
[IMG]
Main Macro Events Today
UK Markit Manufacturing PMI – The UK PMI is expected to have stood at 50.2 in February compared to 50.6 in January, in response to the slowdown in the world economy.
Support and Resistance
[IMG]
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.
Dr Nektarios Michail
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.