Hotforex.com - Market Analysis and News.

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  1. #731
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    Hotforex.com - Market Analysis and News.
    Date : 18th March 2019.

    MACRO EVENTS & NEWS OF 18th March 2019.




    FX News Today

    * Stock markets rallied in Asia with Chinese indices leading the advance as markets prepare for a cautious Fed meeting this week.

    * China’s promise to support the economy via a cut in the VAT rate is adding support and helping markets to leave December lows far behind.

    * US futures are also on the rise as are European futures.

    * Japanese exports decline for a third consecutive month. Singapore non-oil exports swUng to surprise 4.9% rise in February after 3 months of decline

    * North Korea may suspend nuclear talks with the US, according to Russia’s TASS.

    * Brexit: May is still trying to get her Brexit deal over the line ahead of the March 21/22 EU summit, with an extension now needed even if the deal goes through.

    * BCC published a report showing that UK business investment is on course to decline by 1.0% in 2019, which would be the worst in a decade.

    * EURUSD above 1.1300, after marking 10-day peak near 1.1345 on tame Fed view.

    * USDJPY tipped lower on N. Korea back-track after printing 9-day peak at 111.90.

    * IEA warned of sharp Venezuela supply drop, but OPEC has spare capacity to offset.

    * The WTI future meanwhile is trading at $58.40.

    Charts of the Day



    Technician’s Corner

    * EURUSD found some ground on Friday’s closing. It is currently trading above its 10-day peak, in the upper BB pattern. Next Resistance 1.1360(50DMA) and Support at 1.1320 (20DMA).

    * GBPUSD is consolidating in the upper 1.32 area. Overall it remains in an up channel.

    * NZDUSD: Broke 3-day High and currently retesting the upper line of a descending triangle. Bullish inverse Head and Shoulders has also been identified in the hourly chart. Resistance holds at 0.6875-0.6900.

    * XAUUSD rebounded from 1,298 the past hour up to 1,304 area. Any consecutive bullish candles could suggest a positive intraday outlook.

    Main Macro Events Today

    * Eurozone Trade data – Eurozone trade data as well as current account data are likely to reflect the global pressure on exports. January’s trade balance is expected to fall to EUR 13.2 bln, vs EUR 15.6 bln in February.

    * US NAHB Housing Market Index – The NAHB Housing Market Index for March kicks off the week, and it is expected to rise to 63 from 62 last time.

    Support and Resistance Levels



    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.

  2. #732
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    Date : 19th March 2019.

    MACRO EVENTS & NEWS OF 19th March 2019.




    FX News Today

    * The main focus is the eagerly awaited Fed announcement tomorrow, with the US central bank expected to turn down the to just one rate hike this year, and the USD remains in “wait n see mode” ahead of FED tomorrow.

    * Central banks in Indonesia, the Philippines and Thailand hold policy meetings this week and are expected to stay on hold as well.

    * In the RBA minutes, the outlook for the Aussie economy was mentioned as having “significant uncertainties’, as house prices cooled significantly more than expected too.

    * However, while the prospect of ongoing support from central banks and governments helped stock markets to move higher across Asia yesterday, today’s trading saw a broad correction, with Chinese indices, which outperformed Monday, underperforming today.

    * The Shanghai Comp lost -0.63%, the CSI 300 was down -0.82%, while the Hang Seng had declined -0.23%. Topix and Nikkei closed with losses of -0.21% and -0.08% respectively and the ASX was down -0.09% in the end.

    * US futures are posting fractional gains, while European futures are down. The front end WTI future meanwhile is trading at USD 58.98 per barrel, after touching a high of USD 59.14 overnight.

    Charts of the Day



    Technician’s Corner

    * EURUSD traded up and down yesterday, ranging around the 1.1345 Resistance level, breaking through it early today. Still below yesterday’s peak, MAs suggest the Euro will strengthen, supported by the MACD, while Stochastics suggest that it is overvalued.

    * GBPUSD is consolidating in the upper 1.32 area, moving on a sideways channel, still below end-February highs. MACD and Stochastics are showing down signals.

    * USDJPY has continued its downwards trend breaking through the 200HMA yesterday, reaching as low as 111.18, with Resistance standing at 111.40 and Support at 111.08.

    * XAUUSD continues to trade above the $1300 mark, in a slight upwards trend, even though Stochastics and MACD show signs of regression. Data releases and any Brexit developments today could affect it.

    Main Macro Events Today

    * Average Earnings ex Bonus and Unemployment Rate (GBP, GMT 09:30) – Average Earnings in the UK are expected to have stood at 3.4% in the three months to January, the same growth rate as the previous time. The ILO unemployment rate is expected to remain at 4%.

    * Economic Sentiment (EUR, GMT 10:00) – March’s economic sentiment index is expected to stand at -18.7, a decline from the -16.6 observed in February.

    * Factory Orders (USD, GMT 14:00) – Factory orders are expected to have grown by 0.3% in January, compared to 0.1% in December.

    Support and Resistance Levels



    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.

  3. #733
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    Date : 20th March 2019.

    MACRO EVENTS & NEWS OF 20th March 2019.




    FX News Today

    * Fed day today – will they be as dovish as the markets seem to think? No change on the rates is expected but their musings on the future path of monetary policy, both conventional as well as with regards to its balance sheet position will be key for the USD and bond yields.

    * Ahead of today’s awaited Fed announcement the Asian session also experienced some profit taking as markets expected a dovish turn.

    * In the Asian session stocks traded narrowly mixed, with Chinese markets underperforming amid reports that China is pushing back against some of the US demands in trade talks.

    * Overall though traders see signs of eagerness to come to a deal among Chinese officials ahead of further trade talks as US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are set to travel to China next week.

    * Topix and Nikkei managed to close with gains of 0.26% and 0.20% respectively. The ASX, however, was down -0.31% at the close and Hang Seng and mainland China bourses are also in the red.

    * US futures are little changed and the front end WTI future is trading at USD 58.97 per barrel.

    Charts of the Day



    Technician’s Corner

    * EURUSD traded mostly above the 1.1345 Resistance level, even though very close to it, in anticipation of the Fed meeting. Indicators are showing signs of consolidation.

    * GBPUSD is moving in a similar way as the EURUSD consolidating in the upper 1.32 area, for the 5th consecutive day, moving on a sideways channel, still below end-February highs. MACD and Stochastics support consolidation.

    * USDJPY moved slightly up on the leading indicator announcement, which showed worse than expected performance compared to the previous month. After etching to 111.60, the pair declined slightly, a move supported by both MACD and Stochastics.

    * XAUUSD is still above the $1300 mark, while some downwards momentum exists despite indicators pointing upwards. The Fed decision is expected to have a strong effect on Gold.

    Main Macro Events Today

    * Retail, Producer, and Consumer Price Indices (GBP, GMT 09:30) – Both the CPI and the RPI are expected to have registered the same growth as January, showing 2.5% y/y and 1.9% y/y respectively. The PPI is expected to have grown by 4.3% y/y compared to 2.9% y/y last month.

    * Fed Interest Rate Decision (USD, GMT 18:00) – The eagerly awaited Fed decision is expected to shed light as to whether the 2 rate hike policy is to be continued or whether one rate hike is to be expected. Furthermore, comments on its potential balance sheet actions could also affect the markets.

    * Gross Domestic Product (NZD, GMT 21:45) – New Zealand GDP is expected to have grown by 2.5% y/y in 2018Q4, compared to 2.6% in 2018Q3.

    Support and Resistance Levels



    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.

  4. #734
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    Date : 21st March 2019.

    MACRO EVENTS & NEWS OF 21st March 2019.




    FX News Today

    * The EU summit starts today and while Brexit is not the only topic on the agenda, it will likely dominate discussions, after PM May yesterday officially asked for an extension until June 30 and ruled out that she as Prime Minister would ask for a long extension.

    * EU council president Tusk in his official response made it clear that a short extension will only be possible if the Withdrawal Agreement has been backed by MPs in London.

    * Tusk did not rule out a long extension but as May has made it clear that she as PM won’t ask for one, that is currently not on the table.

    * After an interesting meeting yesterday, the Fed was even more dovish than expected, suggesting that no rate hikes would take place in 2019, although leaving the window open for some hikes in 2020.

    * Overall, the Fed commented that a patient, semi-neutral approach was the best at this point, after the cooling in growth and inflation. Justification was sought in slower growth, static payrolls, weaker household spending and a decline in overall inflation.

    * In addition, the Fed also confirmed plans to taper in May, and then end in September, the balance sheet runoff.

    * Trump, following the Fed, tweeted that tariffs on Chinese goods could be in place for a “substantial period”. Equities dropped, after increasing as a result of the Fed dovishness.

    * Dow closed down 0.55% and under its 20 SMA. Asian shares are less impacted, but Japan is closed today.

    Charts of the Day



    Technician’s Corner

    * EURUSD pushed higher than the 1.14 level on the Fed dovishness, with expected Resistance at 1.1433, and then at 1.15. Indicators are supportive of a consolidation/downtrend mode this morning.

    * GBPUSD is slightly regaining its losses, still moving around the 1.32 area, on a sideways channel, still below end-February highs. MACD and Stochastics can perhaps be interpreted as sending positive signals.

    * USDJPY dropped heavily on the Fed announcement, crossing the 110.72 Support and its 200HMA. The next Support level is at 110.34, even though the MACD and Stochastics do not appear to agree with the downwards trend.

    * XAUUSD gained significantly and is trading at $1319, while some downwards momentum continues to exist according to the indicators. The Fed decision did have a strong effect, as suggested yesterday, and the question is whether Gold can now break through the $1321 Resistance level, or will retrace to the $1313 Support.

    Main Macro Events Today

    * European Council Meeting (EUR, GBP, Full Day) – One of the most important European Council Meetings for the year, given that Theresa May will likely aim to provide justification for a Brexit delay.

    * Employment Data (AUD, GMT 00:30) – While the Unemployment Rate is expected to have remained at 5% in February, employment change is expected to have eased, increasing by 15K compared to 39K last month.

    * SNB Interest Rate Decision (CHF, GMT 08:30) – The SNB is not expected to surprise markets as the Swiss rate is forecast to remain at -0.75%.

    * Retail Sales ex Fuel (GBP, GMT 09:30) – UK Retail Sales are expected to have eased, growing by 0.2% on a m/m basis, compared to 1.2% in January.

    * BoE Interest Rate Decision (GBP, GMT 12:00) – Shadowed by the ongoing political developments in Brexit, the BoE is not expected to proceed with any interest rate actions.

    * CPI inflation (JPY, GMT 23:30) – National Core CPI for Japan is expected to have declined to 0.3% m/m in February, compared to 0.4% in January.

    Support and Resistance Levels



    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.

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