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.

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