Topic: Hotforex.com - Market Analysis and News. - page 27. (Read 32319 times)

Date : 07 October 2019.

MACRO EVENTS & NEWS OF 07 October 2019.



* Welcome to our weekly agenda, our briefing of all the key financial events globally. The week ahead is expected to reveal weakness in the US and Canada, while it could give the views of central bankers regarding future rate cuts. In the Brexit front, time is short, with only a week of negotiations left until the Queen’s speech on October 14th and the EU’s summit on the 17th.

Monday – 07 Octobr 2019

* German Factory Orders (EUR, GMT 06:00) – The German industrial orders dropped by 2.7% m/m in July 2019, posting the biggest monthly decrease in factory orders since February, amid declines in both domestic orders and foreign demand. In August it is expected to fall only by 0.4% m/m.

Tuesday – 08 October 2019

* Industrial Production (EUR, GMT 06:00) – Industrial production in Germany is expected to have dropped in August, reaching 0.3% m/m, higher though than the 0.6%  fall in July.

* Producer Price Index (USD, GMT 12:30) – The Headline PPI is expected to drop at -0.2% for September, with a 0.2% rise in the core index. As expected readings would result in a y/y gain of 1.5% for headline PPI, versus a 1.8% pace of August. We see y/y headline readings in a 1.0%-2.3% range over coming months, while core prices should oscillate in a 2.0%-2.5% range.

Wednesday – 09 October 2019

* JOLTS Job Openings (USD, GMT 14:00) – JOLTS define Job Openings as all positions that have not be filled on the last business day of the month. July’s JOLTS job openings came out at 7.217M.

* FOMC Minutes (USD, GMT 18:00) – The FOMC Minutes report provides the FOMC Members’ opinions regarding the US economic outlook and any views regarding future rate hikes. FOMC trimmed rates 25 bps, as expected, but with 3 dissents. In the last FOMC statement, on July 31 decision showed mixed views, two dissents for steady policy, two participants who wanted 50 bps in cuts and several wanted steady stance.

Thursday – 10 October 2019

* Gross Domestic Product and Manufacturing Production (GBP, GMT 08:30) – GDP is the economy’s most important figure. August’s GDP is expected to lower to 0% following the 0.3% reading from last month. Meanwhile, Industrial and Manufacturing Production will be out as well. These two indices are expected to have fallen, with both providing a downwards contribution of 0.1% m/m in August.

* ECB Monetary Policy Meeting Accounts (EUR, GMT 11:30) – Event of the Week –The ECB Monetary Policy Meeting Accounts, similar to the FOMC minutes, provide information with regards to the policymakers’ rationale behind their decisions. In the last ECB meeting, ECB not only cut the deposit rate but also announced a new open-ended asset purchase program, worth EUR 20 bln a month, while removing the time frame in the rate guidance.

* Consumer Price Index ex Energy and Food (USD, GMT 12:30) – The Consumer Price Index is suggestive of how the economy is performing, with expectations standing flat for the September headline release. A 0.2% core price increase is expected, following respective August readings of 0.1% and 0.3%.

Friday – 11 October 2019

* Labour Market Data (CAD, GMT 12:30) –  August employment revealed a 81.1k jump in jobs, much stronger than expected, following the 24.2k drop in July. However September reading is expected to feel the negative impact of the stampede of global easing as banks look to counter the drag from trade. September’s unemployment rate in Canada is anticipated unchanged at 5.7% m/m, while the employment change is expected to post just 15K jump in jobs.

* Michigan Sentiment (USD, GMT 14:00) – The preliminary US consumer sentiment for October is forecast at 90.6, 3.2 points below the final in September.

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.

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.


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.

Date : 4th October 2019.

MACRO EVENTS & NEWS OF 4th  October 2019.



FX News Today

* EU to give Johnson one week to improve Brexit proposal. According to a Bloomberg, the EU’s chief negotiator Barnier told a private meeting of European senior diplomats that Boris Johnson’s latest blueprint for the Irish border fell far short of his conditions for a deal. The U.K. was given a week to improve on the plans.

*European Outlook: Bund futures are fractionally higher ahead of the official open in Europe while Treasuries held yesterday’s gains. EGBs bounced back yesterday but the combined sell off in Gilts and FTSE 100 especially on Wednesday highlights that Brexit risks also raise stagflation concerns and has the potential to send all U.K. assets lower. DAX and FTSE 100 futures are higher, with the DAX future underperforming slightly, as the main index returns from yesterday’s holiday. EUR-USD is trading at 1.0969 as markets look ahead to the U.S. payroll report today, which will dominate the session, especially amid the lack of data releases in Europe.
Charts of the Day



Technician’s Corner

* EURUSD opened the session at lows near 1.0950, and was steady into the U.S. services ISM. From there, a three-year low outcome saw the pairing vault to 1.0999 highs, as the Dollar overall, and Treasury yields headed lower. The pairing steadied between the highs and 1.0975 through the remainder of the session. Major Dollar pairings are liable to turn sideways through the overnight session, as traders anticipate the U.S. employment report on Friday. The jobs report may go some way in solidifying the growth outlook and the Fed’s policy path, and hence, future USD direction.

* USDJPY bounced from near one-month lows of 106.87 seen into the N.Y. open, topping at 107.12 into the ISM data. The pairing slid to new trend lows of 106.48 after the data, taking its cue from a sharply lower Wall Street and a dive in Treasury yields. Heightened odds for another Fed rate cut at the end of October will likely keep a cap on the pairing for the time being.

Main Macro Events Today

* U.S. Employment Preview: It’s all about the September employment report. The data will go some way in solidifying the markets’ growth outlook and the Fed’s policy path after a rash of weaker than expected numbers on manufacturing and services fueled worries over a recession. But the markets have already priced in a Fed rate cut at the October 29, 30 FOMC, so this report isn’t likely to alter that outlook measurably. Expectations are for a 145k rise in non-farm payrolls, versus the previous 130k, though recent data suggests downside risks. Hourly earnings are seen rising 0.3% from 0.4% in August, while the unemployment rate should dip a tenth to 3.6% (lowest since the 3.5% for December 1969).

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.

Stuart Cowell
Head Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 3rd October 2019.

MACRO EVENTS & NEWS OF 3rd October 2019.



FX News Today

* US set to impose tariffs on USD 7.5 bln of EU goods, ranging from aircraft to agricultural products.

* Risk aversion is sending global stock markets in a sell-off while the announcement of US tariffs will add to the negative backdrop today.

* Wall Street closed with sharp losses yesterday following also the poor jobs numbers, which added to concerns over the outlook.

* BoJ board member Funo: “BoJ must maintain sufficiently low interest rates for a prolonged period”, while saying that the BoJ will prevent any risks to the inflation target from materialising.

* US futures are slightly higher, but European futures remain in the red and the risk of further corrections on stock markets seems pretty high. UK100 down by more than 3%.
USDJPY is trading at 107.16 after tumbling on risk aversion yesterday.

* The WTI future meanwhile is trading at just $52.52 per barrel after selling off for 8 straight days.

* The UK curve flattened, while spillover effects also saw Bunds moving up, as markets prepare for additional fiscal spending on both sides of the channel.

* BREXIT: PM Johnson’s latest Brexit plan is not expected to bring a real breakthrough in talks and EU officials are reportedly considering how the October 31 deadline can be extended, even if Johnsons refuses to ask for an extension.

Charts of the Day



Technician’s Corner

* EURUSD printed 1-week highs of 1.0962 after opening at 1.0920, up from Tuesday’s trend low of 1.0879. The Euro’s move higher appears to be more of a case of Dollar weakness than Euro strength following the weak U.S. manufacturing ISM on Tuesday, and the not overly impressive ADP jobs report this morning. U.S. recession fears have been on the rise again, resulting in lower Treasury yields. Traders will likely hold fire into the end of the week, to see how the services ISM on Thursday, and the September employment report on Friday play out. EUR-USD resistance is at 1.1000.

* USDJPY fell to six-session lows of 107.17, down from opening highs of 107.60. The pairing has so far found support ahead of the 50-day moving average at 107.05, though today’s severe risk-off conditions, including a sharp Wall Street sell-off, and lower Treasury yields, should keep Dollar gains contained. U.S./China trade uncertainty can be expected to limit upside as well. The pairing has been inside a 108.50 to 107.00 trading range for nearly a month, and will need a decisive break of either of those levels to see a shift in sentiment. For now, given all the uncertainties facing the markets, we look for the risk sensitive pairing to test downside support.

Main Macro Events Today

* ISM Non-Manufacturing PMI (USD, GMT 14:00) – The ISM-NMI index is expected to fall to 54.5 in September from 56.4 in August and a 19-month low of 56.1 in March, versus a 13-year high of 60.8 in September of last year. The sentiment surveys have been erratic in recent months, likely due to competing perspectives on the trade war, troubles abroad, and stock price gyrations.

* Jobless Claims (USD, GMT 14:00) –  Initial jobless claims are expected to increase 5k to 218k for the week of September 27, after edging up 3k to 213k in the week of September 21. Part of the prior week’s gain likely reflects some lift from the effects of the UAW strike at GM which began September 16 that included some 49k workers. Strikers don’t qualify for benefits, but suppliers to GM do. Beyond the strike, claims look poised to fluctuate around 212k in September, which matches the 212k cycle-low in July that was also seen last September. We saw prior claims averages of 216k in August, 222k in June, and 217k in May.

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.

Date : 2nd October 2019.

MACRO EVENTS & NEWS OF 2nd Sepember 2019.



FX News Today

* Wall Street kicked off Q4 on bearish footing with the Dow dropping 1.2% to 26,570.

* The weaker than expected ISM manufacturing index to 47.8, a second straight month in contraction, rekindled recession worries.

* Yields are still above Monday’s close, after weak demand in yesterday’s auctions triggered a sharp rise in long yields.

* South Korean indices were hit by reports that North Korea fired what seemed a submarine based ballistic missile of its eastern coast, added to the negative risk backdrop after the S&P closed at a one months low.
US futures are trying to move higher, GER30 and UK100 futures are in negative territory.

* Brexit: UK Prime Minister Johnson, admitted that customs checks would be the “reality” of Brexit, even though he dismissed an apparent leak of his government’s detailed plans for the post-Brexit Irish border — which involve customs checks on both sides of the border — as being inaccurate.

* Gilts outperformed and UK yields declined yesterday after hopes of a breakthrough on the Brexit front were crashed and political headlines will remain the main driver for UK markets

* The BoE lays the ground for a rate cut even without a no-deal Brexit scenario.

Charts of the Day



Technician’s Corner

* GBPUSD pulled back from earlier highs, as Bloomberg, cited a Buzzfeed tweet saying according to an EU Commission spokesman, the earlier report that the EU was considering a time-limited Irish backstop, was not true. Cable fell to 1.2260 from earlier highs near 1.2340.

* EURUSD bounced to 1.0908 highs into the N.Y. open. The Euro has printed 5-straight session of lower daily highs and lows, a bearish signal, and a failure to trade above Monday’s 1.0948 highs today will likely embolden EUR bears going forward. Fundamentally, the US economy remains head and shoulders above Europe’s, while a dovish ECB and interest rate differentials solidly in favor of the Dollar, we look for further EURUSD losses going forward.

Main Macro Events Today

* ADP Non-Farm Employment Change (USD, GMT 12:15) – The ADP is expected to report a 145k increase in private payrolls for September following the better than expected 195k increase in August. Risk is for a weaker headline print after the miss in the September ISM, that included a decline in the employment sub-component. Friday’s September nonfarm payroll report is now crucial for the markets’ expectations on the FOMC, as another 25 bp rate cut is again being priced in with greater than a 50-50 probability.

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.

Date : 1st October 2019.

MACRO EVENTS & NEWS OF 25th Sepember 2019.

[​IMG]

FX News Today
RBA cut key rate – as expected. Australia’s central bank reduced the key interest rate buy 25 bp to 0.75% – 3rd cut this year.
JGBs and Treasuries sold off after weak JGB auction, stocks mostly higher.Wall Street rallied. Dow is up about 2% in September and 1.4% for Q3, and just shy of all-time highs.
The sharpest decline in 10-year JGB futures in more than a year was triggered by a very weak 10-year auction, which saw demand dipping to the lowest level since 2016.
European futures suggest a positive start to the new months especially for the DAX, which is up 0.4%, alongside gains in US futures.
USDJPY is trading at 108.22, as the Dollar remained supported.
The AUD underperformed after the dovish RBA statement.
The EUR is trading below 109 against the USD after source stories yesterday suggested that Germany’s leading economic institutes will cut their growth forecasts for the Eurozone’s largest economy, which given that the Bundesbank is expecting a technical recession should not come as a surprise, but will highlight again the downside risks for Germany as well as the Eurozone.
The UK’s government will present detailed alternatives to the Irish backstopto Brussels this week.
The USOIL is trading at $54.54 per barrel amid reports that production at the world’s largest oil produces fell during the third quarter.
Charts of the day
[​IMG]

Technician’s Corner
USDJPY:Moderately risk-on conditions have supported on Monday, along with a slight uptick in Treasury yields. Relative calm on the US/China trade front has weighed some on the Yen as well, as high-level talks are expected in Washington on October 10-11. China’s Vice Premier Liu He, along with the USTR Robert Lighthizer and Treasury Secretary Steven Mnuchin are expected to run the negotiation sessions. Above Friday’s 108.18 highs, the September 19 top at 108.47 could be USDJPY’s next upside level.
EURUSD took another leg lower, trading under the 1.09 mark for the first time since the second week of May, 2017. There appeared to be a push to run sell-stops located just under the 1.0900 mark, following cooler German CPI, resulting in a dip to lows of 1.0885. Reports of 1.0900 option expiries on Tuesday and Wednesday may now keep the pairing glued to either side of the level until then. Eventually though, Euro is expected to remain down as European growth continues to fade, the ECB remains uber-dovish, and the Dollar continues to find support on the back of USD friendly interest rate spreads.
Main Macro Events Today

Consumer Price Index (EUR, GMT 09:00) – The preliminary Euro Area CPI for September is expected to remain unchanged at 1.0% y/y, while core inflation is seen at 1.0% y/y from 0.9% y/y.
Manufacturing PMI (EUR, GMT 07:55) – The preliminary September Eurozone PMI readings, released so far, were striking for failing to show an expected improvement and instead showing a marked contraction in manufacturing activity, with service sector activity slowing sharply. The final reading is expected to be confirmed at 41.4. The weakness in German manufacturing – triggered by geopolitical trade tensions and Brexit uncertainty is spreading to other sectors and across the Eurozone.
ISM Manufacturing PMI (USD, GMT 14:00) – The US ISM Manufacturing PMI is expected to rise to 51.0 in September from 49.1 in August, compared to a 14-year high of 61.4 in August of last year.
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.

Date : 30th September 2019.

MACRO EVENTS & NEWS OF 30th September 2019.



* Welcome to our weekly agenda, our briefing of all the key financial events globally. The week ahead is expected to be turn on economic data, with investors eyeing NFP data but also Eurozone data for a possible strength in the service sector.

Monday – 30 September 2019

* Caixin Manufacturing PMI (CNY, GMT 01:45) – The Caixin manufacturing PMI is expected to remain above neutral at 40.2 in September.

* Gross Domestic Product (GBP, GMT 08:30) – The economy’s most important figure, Q2 GDP is expected to be higher at 0.5% q/q following the last reading but unchanged from the reading of Q1.

* Harmonized Index of Consumer Prices (EUR, GMT 12:00) – The German HICP inflation for August held steady at 1.0% y/y. However the preliminary reading for Septembe is expected to rise at 1.2% y/y.

Tuesday – 01 October 2019

* Interest Rate Decision (AUD, GMT 04:30) – The RBA minutes from the September policy meeting showed that the central bank remains disposed to further easing. AUDUSD has been amid a clear downtrend since early 2018, which has approximated the development of the US-China trade war and consequential slowing in the Chinese economy, which is Australia’s biggest export customer.

* Consumer Price Index (EUR, GMT 09:00) – The preliminary Euro Area CPI for September is expected to remain unchanged to 1.0% y/y, while core inflation is seen at 1.0% y/y from 0.9% y/y.

* Manufacturing PMI (EUR, GMT 07:55) – The preliminary September Eurozone PMI readings, released so far, were striking for failing to show an expected improvement and instead showing a marked contraction in manufacturing activity, with service sector activity slowing sharply. The final reading is expected to be confirmed at 41.4. The weakness German manufacturing – triggered by geopolitical trade tensions and Brexit uncertainty is spreading to other sectors and across the Eurozone.

* ISM Manufacturing PMI (USD, GMT 14:00) – The US ISM Manufacturing PMI is expected to rise to 51.0 in September from 49.1 in August, compared to a 14-year high of 61.4 in August of last year.

Wednesday – 02 October 2019

* ADP Non-Farm Employment Change (USD, GMT 12:15) – The ADP Employment survey is seen at 140k for September compared to the 195K in August.

Thursday – 03 October 2019

* Australia’s Trade Balance (AUD, GMT, 1:30) – Australia export growth in September is expected to have reduced. Hence the trade balance could slip to 6,000M from 7,268 M last month.

* ISM Non-Manufacturing PMI (USD, GMT 14:00) – The ISM-NMI index is expected to fall to 54.5 in September from 56.4 in August and a 19-month low of 56.1 in March, versus a 13-year high of 60.8 in September of last year. The sentiment surveys have been erratic in recent months likely due to competing perspectives on the trade war, troubles abroad, and stock price gyrations.

Friday – 04 October 2019

* Event of the Week – Non-Farm Payrolls (USD, GMT 12:30)  Along with Wednesday’s employment data, payrolls are important in gauging how many people are employed in non-agricultural businesses. Jobs are expected to have increased in at 155k in September, following a 130k increase in August. The unemployment rate should tick down to 3.6%, after holding at 3.7% in the prior three months, and hours-worked are estimated to be up 0.1%. Average hourly earnings should rise 0.3% m/m, for a y/y gain of 3.2%, matching the 3.2% pace of August. We see payroll gains averaging 157k in 2019, down from a 223k average in 2018.

* Fed’s Chair Powell speech (USD, GMT 18:00)

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.

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.


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.

Date : 25th Sepember 2019.

MACRO EVENTS & NEWS OF 25th Sepember 2019.



FX News Today

* RBNZ on hold with dovish twist. As widely expected New Zealand’s central bank kept policy on hold with the key rate unchanged at 1%. The statement said, however, that there was more scope for monetary and fiscal stimulus, while saying it was “pleased to see” the the NZD’s depreciation

* Sentiment started to settle overnight, amid signs of further conciliatory moves that keep hopes of progress on the trade front alive. Asian markets are up from lows and U.S. futures are moving higher, after yesterday’s sell off on Wall Street.

* DAX and FTSE 100 futures are in the red, however, as Boris Johnson returns from New York to deal with the fallout from yesterday’s Supreme Court ruling that said the suspension of parliament was unlawful. MPs are set to return to Westminister today and another Brexit extension with new elections in the U.K. in November or December seem increasingly likely.

* The prolonged uncertainty on the Brexit front meanwhile is adding to geopolitical trade tensions and leaving its mark on economic developments on both sides of the channel. The risk of a recession in Europe is looking very real.

Charts of the Day



Technician’s Corner

* EURUSD spent the morning session between 1.0994 and 1.1015, later climbing to 1.1020 highs in afternoon dealings. The highs came following reports that House Democrats are considering a special committee in order to attempt to impeach president Trump, which weighed on the Dollar overall. Bigger picture, with European growth fading and the U.S. economy still chugging along fairly well, EUR-USD is set to remain in sell-the-rally mode. Monday’s 1.0966 low is now support, with the 20-day moving average at 1.1028 marking resistance.

* USDJPY: fell to better than two-week lows of 107.05 from pre-open highs of 107.79. The fall has come on the back of a bout of risk-off conditions, with sliding stocks initiated by Trump bashing China on trade from the UN, then talk that House Democrats are considering a special committee to impeach Trump. The pairing fell through its 20-day moving average at 107.24, though found some buyers ahead of the 50-day moving average, which currently sits at 107.06

* USDCHF During Tuesday, the Swiss franc continued to gain support from a lack of confidence in the global growth outlook, especially after recent weak global manufacturing data. The Swiss currency & gold made net gains on Tuesday and remain underpinned with the franc weakening only slightly on Wednesday as US political developments added to investor concerns with the dollar around 0.9870.

Main Macro Events Today

* Non-Monetary Policy Meeting  (EUR, GMT 07:00) – The monthly meeting of the ECB – with a speech from member Coeure to open events.

* SNB – Quarterly Bulletin (CHF, GMT 13:00) and ZEW Survey (08:00 GMT) – With political developments on both sides of the Atlantic  moving at a pace the safe haven status of the CHF could receive a bid with positive news flow today.

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.

Stuart Cowell
Head Market Analyst
HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 24th Sepember 2019.

MACRO EVENTS & NEWS OF 24th Sepember 2019.



FX News Today

* Sentiment stabilises as markets returned from yesterday’s holiday.

* Asian stock markets moved mostly higher, as there are lingering hopes of progress ahead of high level US-Sino trade talks next month.

* Japan’s Jibun Bank Flash Manufacturing Purchasing Managers’ Index slipped to just 48.9. Together with the sharp decline in the German manufacturing PMI this will add to concerns over the outlook for the global economy.

* ECB President Draghi yesterday signalled the readiness to act again.

* Lagarde warned that trade tensions are the biggest threat to the global economy.

* China’s central bank Governor Yi Gang said in a press briefing that China is not in a rush to roll out massive rate cuts or QE like some other central banks”.

* GER30 and UK100 futures are posting slight gains, in tandem with US futures after a cautious move higher in Asia.

* Brexit developments also remain in focus as the Supreme Court in London is set to announce its verdict on the suspension of parliament today.

Charts of the Day



Technician’s Corner

* EURUSD bottomed at 8-session lows of 1.0966 into US session, down from 1.1025 highs. Weak European PMIs took the pairing to session lows, though since then, short covering has been noted, seeing a bounce to 1.0996 highs. There has been talk of a large 1.1000 option expiry on Thursday, which may see EURUSD center on that level until then. Sell-the-rally remains in place however, as the EU economy sputters, and as the Dollar continues to benefit from strong interest rate differentials.

* GBPUSD: Cable carved out a fresh 6-day low at 1.2414, extending the correction from the 2-month peak seen on Friday at 1.2582. Markets will continue to demand a hefty Brexit discount. Markets are also waiting on the judgement of the UK’s Supreme Court, up today, on Boris Johnson’s controversial move to shut down Parliament for a 5-week period, with the government having appealed a ruling by Scotland’s highest court that the move was illegal. There is a chance that, it will agree with the recent court rulings seen in England and Northern Ireland, that the matter was “non-justiciable” — being political rather than a legal matter.

* USOIL prices are down by over 8% from week-ago levels, but remain up by 6.7% from month-ago levels, and are up 27.2% on the year-to-date. News that some of Saudi’s production and distribution facilities will be back up and running as soon as next week weighed on crude prices. This comes with the US announcing that it is bolstering its military presence in Saudi Arabia for defensive and deterrence purposes

Main Macro Events Today

* German IFO (EUR, GMT 08:00) – German IFO business confidence fell further in August and more than anticipated, with the headline number now at the lowest level since Nov 2012. In September, the overall business climate reading is seen slightly higher at 95.1 from 94.3. So far the sector breakdown of the IFO still shows that optimists outnumber pessimists in both services and construction, but with the trade reading now also in negative territory and services confidence especially falling sharply in August, the balance of risks is clearly tilted to the downside.

* CB Consumer Confidence (USD, GMT 14:00) – The Consumer Confidence is expected to ease to 134.0 in September from 135.1 in August and an 8-month high of 135.8 in July.  A drop-back is expected in the current conditions reading to 173.0 from a 19-year high of 177.2 in August. The jobs strength diffusion index is poised for a drop-back from a remarkably lofty 19-year high in August of 39.4. Overall, confidence measures remain historically high.

* BoJ Minutes (JPY, GMT 23:50) – The BoJ Minutes are expected to shed some light regarding whether Japanese policymakers are willing to consider rate cuts in the coming months.

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.

Date : 23rd September 2019.

MACRO EVENTS & NEWS OF 23rd September 2019.



* With nearly all central bank meetings out of the way it should be a data-focused  week, although Brexit developments still have the potential to shake things up. The main scenario continues to assume a smooth Brexit transition, but business investment is now expected to continue to fall significantly as geopolitical trade tensions and Brexit uncertainty leave their mark. Nonetheless, the geopolitical situation in the Mideast is fragile, especially with the US openly considering taking military action against Iran.

Monday – 23 September 2019

* Services and Manufacturing PMI (EUR, GMT 07:30-08:00) – Aug manufacturing PMI confirmed at 47.0, vs 46.5 in July, Services PMI revised up to 53.5 from 53.4. This picture is likely to be seen again in the preliminary readings for September, as Manufacturing PMI has been forecast at 47.5, still below neutral. Meanwhile Services PMI is expected to fall to 53.3.

* Services and Manufacturing PMI (USD, GMT 13:45) – Preliminary Manufacturing are expected to slip in September, to 50.1 from 50.3, while Services PMIs are likely to fall below 50, to 49.6,  indicating a potential recession in the sector that has been hit by global trade tensions.

Tuesday – 24 September 2019

* German IFO (EUR, GMT 08:00) – German IFO business confidence fell further in August and more than anticipated, with the headline number now at the lowest level since Nov 2012. In September, the overall business climate reading is seen slightly higher at 95.1 from 94.3. So far the sector breakdown of the IFO still shows that optimists outnumber pessimists in both services and construction, but with the trade reading now also in negative territory and services confidence especially falling sharply in August, the balance of risks is clearly tilted to the downside.

* CB Consumer Confidence (USD, GMT 14:00) – The Consumer Confidence is expected to ease to 134.0 in September from 135.1 in August and an 8-month high of 135.8 in July.  A drop-back is expected in the current conditions reading to 173.0 from a 19-year high of 177.2 in August. The jobs strength diffusion index is poised for a drop-back from a remarkably lofty 19-year high in August of 39.4. Overall, confidence measures remain historically high.

* BoJ Minutes (JPY, GMT 23:50) – The BoJ Minutes are expected to shed some light regarding whether Japanese policymakers are willing to consider rate cuts in the coming months.

Wednesday – 25 September 2019

* Interest Rate Decision and Monetary Policy Statement (NZD, GMT 02:00) – The RBNZ cut rates by an unexpectedly aggressive 50 bps to a record low 1.00% in August. Governor Orr said negative rates may be needed to stimulate the economy, keeping the door wide open to further aggressive easing measures. The RBNZ is largely anticipated to keep rates on hold at 1.00%.

Thursday – 26 September 2019

* US Gross Domestic Product (USD, GMT 12:30) – The final Q2 GDP growth is expected to be confirmed at 2.0% annualized, with a $6 bln hike in public construction that accompanies boosts of $2 bln for consumption and $1 bln each for intellectual property investment and exports. We expect a -$2 bln revision for nonresidential investment and a -$1 bln revision to residential construction, leaving a net $7 bln upward GDP revision.

* Tokyo CPI and Production Data (JPY, GMT 23:30) – The country’s main leading indicator of inflation is expected to have rise to 0.8% y/y in September from 0.6% last month, and to slip to 0.5% y/y from 0.7% in the CPI ex Fresh Food reading.

Friday – 27 September 2019

* Personal Consumption Expenditures Prices (USD, GMT 12:30) – A 0.5% gain is anticipated in personal income in August after a 0.1% increase in July, alongside a 0.2% rise in August consumption that followed a big 0.6% July gain.

* Durable Goods (USD, GMT 12:30) – Durable goods orders are expected to fall -1.6% in August, after gains of 2.0% in July and 1.8% in June, thanks to a -5.0% transportation orders drop after two monthly gains. Boeing orders dropped back to just 6 from 31 in July, with continued weakness due to the hit from problems with the Boeing 737 Max that has prompted buyers to delay new orders.

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.

Date : 20th Sepember 2019.

MACRO EVENTS & NEWS OF 20th Sepember 2019.



FX News Today

* Overall dovish signals from central banks yesterday underpinned Asian markets, which are mostly posting fractional gains.

* Bund futures are fractionally higher in pre-market trading, while GER30 and UK100 futures are slightly lower.

* Japan inflation hit a two year low, with CPI excluding fresh food coming in at just 0.5%, in line with estimates and the lowest rate since 2017.

* BOJ: This may complicate the outlook for the BoJ, although excluding energy, prices actually nudged higher. The data will add to easing expectations after BoJ head Kuroda signalled a review of the overall situation and the impact of slowing world growth on price momentum in Japan.

* Brexit developments: Negotiators from both sides are set to meet today, after the European Commission confirmed that it received some technical papers on alternative arrangements to the backstop.

* German PPI inflation much weaker than expected at 0.3% y/y (median 0.6%).

* OECD cut its 2019 and 2020 outlooks for growth globally, and across most of the world, versus the prior May estimates. And it indicated growth is set to slip to its slowest since the financial crisis thanks to the trade tumult.

Charts of the Day



Technician’s Corner

* GBPUSD rallied from 1.2490 to over 1.2570, a 2-month high after EU commission president Juncker told Sky News he believes “we can have a deal” on Brexit by October 31. It remains to be seen, how Mr. Juncker plans to make a deal, since there has been no movement from the EU side in months. Cable had been languishing in the upper 1.25s.

* USDJPY has again been range-bound through the session, sticking to a 107.90 to 108.08 trading band. Improved expectations for movement on the US-China trade war may limit USDJPY downside for now. Support comes at Monday’s 107.45 low, with Resistance at 108.50.

Main Macro Events Today

* Retail Sales ex Autos (CAD, GMT 12:30) – Retail sales and Core for August are seen steady, while the headline is anticipated to drop to 2.9% y/y from 3.3% and core to 2.5% from 2.9%.

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.

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. 


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.

Date : 19th Sepember 2019.

MACRO EVENTS & NEWS OF 19th Sepember 2019.

[​IMG]

FX News Today
The FOMC announcement that delivered the expected 25 bp cut that was widely expected, but didn’t signal further moves down the line. It repeated will act as appropriate to sustain expansion.
BoJ held monetary policy on old for now, but flagged review in October.
Australian Dollar slumped on the back of a rise in unemployment at 5.3% from 5.2%.
Asian stock markets traded mixed, JPN225 gained 0.58%. The Japanese stock markets up from yesterday’s lows, but below the highs seen early in the session.
EGBs rallied yesterday and are likely to remain supported going into today’s central bank announcements from BoE, Norges Bank and SNB .
Brexit: UK given ultimatum to submit Irish border proposals by Sep 30.
The focus now turns to central bank decisions in Europe, where BoE and SNB are expected to hold policy unchanged, while Norges Bank could dodge the trend and deliver a hike.
Charts of the Day
[​IMG]

Technician’s Corner
YEN: The Yen posted fresh trend lows against the Dollar, though remained just off the lows it saw against the Euro, Australian Dollar and other currencies yesterday. USDJPY printed a 6-week high at 108.26 in what is now the fourth consecutive day of higher-high making. The Japanese currency has been deflating amid a persisting phase of risk-on conditions in global markets.
Main Macro Events Today

Interest Rate Decision, Monetary Policy Statement (CHF, GMT 07:30) – The SNB kept policy on hold at the June council meeting. The Libor target was replaced with a key policy rate, but the central bank was adamant that the degree of monetary accommodation remains unchanged. After the ECB cut rates, while the Fed is now widely expected to ease rates, the SNB has little room to manoeuvre, especially against the backdrop of ongoing Brexit uncertainty and geopolitical trade risks. The SNB’s central message remains that the situation remains fragile and the currency “highly valued”.
Interest Rate Decision, MPC Voting (GBP, GMT 11:00) – Shadowed by the ongoing political developments in Brexit, the BoE is not expected to proceed with any interest rate actions.
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.

Date : 16th September 2019.

MACRO EVENTS & NEWS OF 16th September 2019.

[​IMG]

Welcome to our weekly agenda, our briefing of all the key financial events globally. The week ahead is expected to be a massive one, as four of the major Central banks will announce their rate decision, i.e. Fed, BoJ, SNB and BoE. There is a lot of interest in seeing whether BoJ will follow the Fed’s steps next week in cutting rates.
Monday – 16 September 2019

Industrial Production and Retail Sales (CNY, GMT 02:00) – The Chinese Industrial Production growth is expected to have risen, at 5.2% y/y in August from 4.8% y/y last month. A slightly positive reading is also expected in the Retail Sales figure at 7.9% from 7.6%.
Tuesday – 17 September 2019

Monetary Policy Meeting Minutes (AUD, GMT 01:30) – The RBA minutes, similar to the ECB Reports, provide a detailed assessment of the bank’s most recent policy-setting meeting, containing in-depth insights into the economic conditions that influenced the rate decision. They are usually a cause for FX turbulence.
ZEW Economic Sentiment (EUR, GMT 09:00) – Economic Sentiment for September is projected at -38.0, from the lowest level since 2011 at -44.1 seen last month, as the current conditions indicator for Germany turned negative. The ZEW is a pretty clear indication that investors are gearing up for a much higher risk of a global recession, which ties in with developments in global bond yields and the marked flattening of curves.
Wednesday – 18 September 2019

Consumer Price Index (GBP, GMT 08:30) – The UK CPI inflation is anticipated to be more underwhelming than the July data, at 1.9% y/y from 2.1% y/y, with a monthly rise up to 0.5% m/m.
Consumer Price Index and Core (EUR, GMT 09:00) – The final reading of inflation is expected to have held steady at 1.0% y/y and core at 0.9% y/y, with an increase in the monthly number at 0.2%m/m from -0.5%m/m. Lower energy price inflation keep a lid on the overall number meanwhile as CPI excluding energy moved up to 1.2% from 1.1% y/y last month.
Consumer Price Index (CAD, GMT 12:30) – The August CPI is expected to continue adding to the backing for steady BoC policy this year, even as the Fed and ECB add stimulus. CPI has been forecasted to grow to a 1.7% y/y pace in August, below the 2.0% last month.
Interest Rate Decision, Monetary Policy Statement and Press Conference (USD, GMT 18:00-18:30) – The August’s jobs data did little to alter the market’s expectations for a 25bp rate cut at the September 17-18 FOMC meeting. Based on Powell’s latest comments, the Fed is very committed to a symmetric 2% inflation goal, hence given low inflation, interest rates will remain low. That leaves very little room to cut rates further. The Fed is not forecasting or expecting a US recession, nor a global downturn, said Powell. The fact that the chair doesn’t seem too concerned about a recession in the States, or the world, suggests the FOMC is not going to be aggressive easing policy.
Thursday – 19 September 2019

Interest Rate Decision, Monetary Policy Statement (JPY, GMT 02:00) – The BoJ kept its short-term interest rate target at -0.1% and its pledge to guide 10-year JGB yields around 0% while maintaining its asset buying program. The central bank is expected to signal once again its commitment to keep interest rates at current levels “for an extended period of time, at least through around spring 2020”. The BoJ pledged to keep an eye on the output gap, but for now at least it seems the bank is seeing the risks as coming mainly from the outside.
Interest Rate Decision, Monetary Policy Statement (CHF, GMT 07:30) – The SNB kept policy on hold at the June council meeting. The Libor target was replaced with a key policy rate, but the central bank was adamant that the degree of monetary accommodation remains unchanged. After the ECB cut rates, while the Fed is now widely expected to ease rates, the SNB has little room to manoeuvre, especially against the backdrop of ongoing Brexit uncertainty and geopolitical trade risks. The SNB’s central message remains that the situation remains fragile and the currency “highly valued”.
Interest Rate Decision, MPC Voting (GBP, GMT 11:00) – Shadowed by the ongoing political developments in Brexit, the BoE is not expected to proceed with any interest rate actions.
Friday – 20 September 2019

Retail Sales ex Autos (CAD, GMT 12:30) – Retail sales and Core for August are seen steady, while the headline is anticipated to drop to 2.9% y/y from 3.3% and core to 2.5% from 2.9%.
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.

Date : 13th Sepember 2019.

MACRO EVENTS & NEWS OF 13th Sepember 2019.



FX News Today

* Bond markets remained under pressure overnight and Bund futures are selling off ahead of the opening in cash markets.

* Draghi’s policy bazooka and especially the promise of open-ended asset purchases helped to bring down BTP yields in particular but in core markets, it put pressure on the long end as risk appetite improved.

* US President Trump said he would consider an interim trade deal on China and while there is nothing substantial yet, hopes that both sides are inching closer to a deal have been strengthened this week.

* The GER30 closed above the 12400 mark yesterday with a gain of 0.4% and GER30 as well as UK100 futures are moving higher in tandem with, but underperforming US futures, after a positive session in Asia. Today’s data calendar is quiet, with only Eurozone trade data of note, which will leave investors to look to US releases while digesting the impact of yesterday’s ECB move.

* China and South Korea were closed for a holiday, but elsewhere across Asia stock markets moved higher with investors hoping that central bank support and progress on the trade front will help to revive global growth.

* US futures are posting gains of 0.2-0.3%.

* The WTI future is trading at USD 55.12 per barrel and heading for a weekly drop after the IEA warned this week that OPEC and its allies are facing a looming supply surplus. OPEC+ urged its members to implement promised production cuts this week but didn’t discuss deepening cuts, while the IEA highlighted that production from competitors is set to surge.

Charts of the Day



Technician’s Corner

* YEN: The Yen posted fresh trend lows against the Dollar, though remained just off the lows it saw against the Euro, Australian Dollar and other currencies yesterday. USDJPY printed a 6-week high at 108.26 in what is now the fourth consecutive day of higher-high making. The Japanese currency has been deflating amid a persisting phase of risk-on conditions in global markets.

Main Macro Events Today

* Retail Sales (USD, GMT 12:30) – A 0.1% August retail sales headline rise with a flat ex-autos figure is projected, following a 0.7% July headline rise with a hefty 1.0% ex-auto gain. Gasoline prices should prove a drag on retail activity given an estimated -3% drop for the CPI gasoline index, and unit vehicle sales should hold steady in August from a 16.8 mln clip in July. Real consumer spending is expected to grow at a 3.6% rate in Q3, following the 4.7% Q2 clip.

* Michigan Sentiment (USD, GMT 14:00) – The US consumer sentiment fell 8.6 points to 89.8 in the final August print (92.1 preliminary), weaker than expected, after inching up 0.2 ticks to 98.4 in July. The preliminary September Michigan sentiment reading is forecast at 90.5.

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.

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.


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.

Date : 12th Sepember 2019.

MACRO EVENTS & NEWS OF 12th Sepember 2019.

[​IMG]
FX News Today
Treasury yields declined overnight, as sentiment improved and central bank decisions come into view.
Stock markets remained supported during the Asian session as trade jitters continue to ease.
Bolton’s departure in the US has triggered renewed hopes of a softer stance in the Trump camp and goodwill gestures from both China and the US have rekindled hopes that tensions can be resolved through talks after all.
President Trump said he will delay the next US tariff increase on China by about two weeks, after China yesterday published an exemption list of its own tariffs on US imports.
The final reading of German August HICP inflation brought no surprise, with HCIP confirmed at just 1.0% y/y, far below the ECB’s reference rate of 2.0%.
US and European futures are moving higher.
The WTI future is trading at USD 56.27 per barrel.
The focus meanwhile is turning to today’s ECB meeting, which is widely expected to bring a cut to the deposit rate, but could disappoint on the QE front and coming ahead of the Fed decision next week, many will see it as a bellwether for easing intentions at global central banks.
Charts of the Day
[​IMG]

Technician’s Corner
The Dollar saw a 6-week high against the Yen, as goodwill gestures from both the US and China on the tariff front lifted risk appetite. The Yen continued to see its safe-haven premium deflate. USDJPY is trading over 108, in what is now a fourth consecutive day of ascent, which is in turn amid a third consecutive week of gains. AUDJPY and GBPJPY also continued to rise amid general strength in export-driven currencies amid the buoyant mood on the trade front.
Main Macro Events Today

Interest Rate Decision, Monetary Policy Statement and Press Conference (EUR, GMT 11:45 & 12:30) – The ECB is expected to cut deposit rate by 10 bp to -0.50%, with new tiered system to limit the impact. Most analysts are expecting a 10 bp cut in the deposit rate, which would leave it at -0.50%. The repo rate, currently at 0.00%, is likely to be kept on hold for now. The ECB is anticipated to re-open QE. There even is a risk that the restart of QE will be put on hold for now. With Lagarde taking over from Draghi in November, the pressure on governments to open their purse strings and complement an expansionary monetary policy with fiscal measures will likely increase.
Consumer Price Index and Core (USD, GMT 12:30) – The headline August CPI is estimated flat with a 0.2% core price increase, following July readings of 0.3% for both. As-expected gains would result in a headline y/y increase of 1.7%, down from 1.8% in July, while core prices should rise 2.3% y/y, up from a 2.2% pace in July. Overall, the inflation outlook remains benign, though we do expect an up-tilt in y/y gains into Q1 of 2020 due to harder comparisons.
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.

Date : 11th Sepember 2019.

MACRO EVENTS & NEWS OF 11th Sepember 2019.



FX News Today

* Asian bond markets in general under pressure as local investors caught up with developments in the US yesterday.

* Excessive easing hopes continue to be scaled back ahead of the ECB meeting tomorrow and the Fed decision yesterday but with lingering hopes that governments will step up support for the global economy helping to underpin stock markets.

* President Trump has fired National Security Adviser John Bolton.

* The departure of Bolton has lifted hopes that the US will take a softer stance on China and North Korea and it also triggered a sell-off in oil amid hopes that tensions with Iran may ease.

* China will lift limits on foreign investment, which underpinned brokerages.

* News wires are citing a report from China’s South China Morning Post that China will buy more agricultural products from the US, to “sweeten” the trade deal. This should help add to optimism of more progress.

* The WTI futures has recovered some of yesterday’s losses and is trading at $57.86 per barrel, after falling to a low of 57.20 in the wake of the Bolton announcement.

Charts of the Day



Technician’s Corner

* Oil: WTI crude slid from $58.60 to $57.30 following news that NSA Bolton was fired by Trump. The ouster of the uber-hawk Bolton is equated by the oil market as an easing in potential conflict between the US and Iran. The WTI contract remains up over $1 from Monday’s low and the 200-day SMA.

* USDJPY printed near 6-week highs of 107.84, continuing to be supported by hopes for a solution to the US/China trade dispute. US Treasury Secretary Mnuchin said recently there has been “lots of progress on talks” recently. In addition, a Reuters source report ahead of the US open indicated BoJ policymakers have discussed further easing measures, including cutting rates further into negative territory. This weighed on the Yen as well.

Main Macro Events Today

* Producer Price Index (USD, GMT 12:30) – The Headline PPI is expected at a -0.1% dip for the PPI headline in August, with a 0.2% rise in the core index. As expected readings would result in a y/y gain of 1.7% for headline PPI that matches the July gain, and a 2.2% y/y rise for the core, versus 2.1% in July. The y/y headline readings is anticipated in a 1.3%-2.0% range over coming months, while core prices should be in a 1.9%-2.3% range.

* Crude Oil Inventories (GMT 14:30)

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.

Date : 6th Sepember 2019.

MACRO EVENTS & NEWS OF 6th Sepember 2019.



FX News Today

* Stock markets remained supported during the Asian session after a higher close on Wall Street yesterday.

* The prospect of a new round of trade talks helped to underpin sentiment Thursday and investors are scaling back easing expectations for the upcoming ECB and Fed meetings.

* Markets priced out a lot of their easing expectations for next week’s ECB meeting yesterday, the German production number (German industrial production fell -0.6% m/m in July,) acted as a reminder that the balance of risks still remains tilted to the downside and that also holds for Brexit risks.

* US reports revealed a surprisingly large August ISM-NMI bounce to 56.4 from a 3-year low of 53.7, alongside a similar ISM-adjusted bounce to 56.1 from a 3-year low of 53.0. The employment gauge fell, however, to a 2-year low of 53.1 from 56.2.

* The confidence in progress on the trade front is far from secured yet and while yesterday’s private payroll survey in the US was better than expected, markets are holding back ahead of official US Payroll numbers later today.

* Nikkei (JPN225) rose 0.43%. The Shanghai Comp is up 0.06%.

* European stock futures posted slight losses, while US futures held on to fractional gains.

* The USOIL meanwhile is trading at $56.30 per barrel.

Charts of the Day



Technician’s Corner

* EURUSD rallied early in the session topping at 1.1085, right at its 20-day moving average. Gains came on risk-on conditions, along with the market’s apparent scaling back of ECB easing expectations. Later, a stronger ADP jobs report and firmer services ISM reversed the pairing’s course, as the Dollar turned broadly higher on the data. The Euro later eased back toward 1.1035 before steadying. Relative strength of the US economy over Europe should keep EURUSD in sell-the-rally mode going forward.

* USDJPY has rallied sharply, peaking at 107.22 yesterday, levels last seen on August 2, and above its 50-day moving average for the first time since August 1. Prospects for US/China trade talks in October, along with better US data, and the accompanying Wall Street and Treasury yield rallies, have supported the pairing through the morning session. Currently is moving sideways in the upper BB (1-hour chart) and within the 1-month Resistance area at 106.80-107.04. A decisive daily candle above this area could turn the overall outlook.

Main Macro Events Today

* UK court hearing on forcing no-deal Brexit

* Gross Domestic Product (EUR, GMT 09:00) – Eurozone’s economic growth s.a for Q2 2019, is likely to remain confirmed with GDP rising by 0.2% q/q.

* NFP and Labour Market Data (USD, GMT 12:30) – A 155k August nonfarm payroll rise has been estimated, following a 164k increase in July. The unemployment rate should tick down to 3.6% after an uptick to 3.7% in June that was sustained in July, and hours-worked are estimated to rise 0.3%. Average hourly earnings should rise 0.3% m/m.

* Employment Change (CAD, GMT 12:30) – Employment change is seen spiking to 12.5k in the number of employed people in August, compared to the decline 24.2k in July. The unemployment rate is expected to remain at 3.7%.

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.

Date : 4th Sepember 2019.

MACRO EVENTS & NEWS OF 4th Sepember 2019.



FX News Today

* Stock markets pared losses after stronger than expected Services and Composite PMIs out of China.

* This helped to counterbalance a disappointing US manufacturing PMI yesterday which had signalled contraction and rekindled concerns about the fallout from ongoing geopolitical trade tensions.

* US August ISM manufacturing PMI dropped 2.1 points to 49.1 from 51.2 July.

* US construction spending edged-up 0.1% in July after falling 0.7% in June.

* US Markit manufacturing PMI slipped to 50.3 in August from 50.4 in July.

* Brexit: PM Johnson pushes for new elections after MPs voted against “no-deal”.

* GBP moved to session highs of 1.2104 as the UK government lost its majority, with a Conservative member defecting to the Liberal Democrats.

* China softened its tone on protesters yesterday and CSI 300 and Shanghai Comp are posting gains of 0.2% and 0.3% respectively.

* US futures are moving higher, as are GER30 and UK100 futures, with investors scaling back “no-deal” Brexit odds.

* The WTI future is trading at USD 54.20 per barrel.

Charts of the Day



Technician’s Corner

* JPY: The Yen printed respective 29-month and 10-year lows versus the Euro and Australian Dollar at the open of trading in Asia-Pacific session, then rebounding some before settling. USDJPY is near net unchanged of the day at 106.15 after carving out a two-session low at the open in Asia, at 105.93.

* GBP: Sterling racked up losses of nearly 1% against the Dollar, Euro and Yen, as of levels prevailing at the London fixing. Cable broke the 3-week low and the round 1.2000 area and posted a 1.1992 low, for the first time since January 2017, which, aside from a broadly firmer Dollar, has been a consequence of Pound underperformance.

* EUR: EURUSD concurrently ebbed to a new 28-month low at 1.0930 in what is now the pair’s seventh consecutive day of printing lower lows. The pairing is down by 1.3% from week-ago levels.

* CAD: The USD also managed to touch a two-and-a-half month peak against the Canadian Dollar in a move exaggerated in magnitude by the unusual thinness of the USDCAD market. The pair’s high was printed at 1.3361 yesterday after buy-stop orders were tripped during the London morning session. The pairing subsequently ebbed back to around 1.3330.

Main Macro Events Today

* ECB’s Nominated President Lagarde speech (EUR, GMT 07:00)

* ISM Manufacturing PMI (USD, GMT 14:00) – The ISM index is expected to rise to 51.4 in August from 51.2 in July, compared to a 14-year high of 61.4 in August of last year.

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.

Date : 3rd Sepember 2019.

MACRO EVENTS & NEWS OF 3rd Sepember 2019.



FX News Today

* Asian stocks traded mixed in a thin trade.

* The RBA left the cash rate at a record low 1.00%, as anticipated, though the statement pointed to tentative signs of improvement in the Australian economy’s fortunes, which helped spark about a 30 pip rebound in the Aussie.

* A Bloomberg reporter highlighted the difficulties in arranging the talks that are supposed to restart this week after the US rejected Beijing’s request to delay the start of tariffs that came into effect over the weekend.

* Against that background stock markets struggling to make headway JPN225 still managed gains of 0.1% respectively, but the Hang Seng declined -0.24%.

* US futures are equally heading south with the USA100 leading the way.

* Argentina imposed capital controls at the start of the month.

* Brexit: The anti-no-deal opposition are preparing a vote today to take control of the parliamentary timetable, which would pave the way for them to stage a vote the following day, Wednesday, on proposed legislation that would stop a no-deal Brexit. Prime Minister Johnson has made it clear that he will call a general election if such legislation were passed, which, according to reports, would be staged on October 14.

* In Europe, BTPs continue to outperform as political jitters abate with Salvini sidelined for now.

* GER30 futures recovered earlier losses and are posting slight gains, while the UK100 is outperforming, underpinned by a weaker Pound.

* The WTI future is trading at USD 54.85 per barrel.

Charts of the Day



Technician’s Corner

* JPY: The Yen printed respective 29-month and 10-year lows versus the Euro and Australian Dollar at the open of trading in Asia-Pacific session, then rebounding some before settling. USDJPY is near net unchanged of the day at 106.15 after carving out a two-session low at the open in Asia, at 105.93.

* GBP: Sterling racked up losses of nearly 1% against the Dollar, Euro and Yen, as of levels prevailing at the London fixing. Cable broke the 3-week low and the round 1.2000 area and posted a 1.1992 low, for the first time since January 2017, which, aside from a broadly firmer Dollar, has been a consequence of Pound underperformance.

* EUR: EURUSD concurrently ebbed to a new 28-month low at 1.0930 in what is now the pair’s seventh consecutive day of printing lower lows. The pairing is down by 1.3% from week-ago levels.

* CAD: The USD also managed to touch a two-and-a-half month peak against the Canadian Dollar in a move exaggerated in magnitude by the unusual thinness of the USDCAD market. The pair’s high was printed at 1.3361 yesterday after buy-stop orders were tripped during the London morning session. The pairing subsequently ebbed back to around 1.3330.

Main Macro Events Today

* ECB’s Nominated President Lagarde speech (EUR, GMT 07:00)

* ISM Manufacturing PMI (USD, GMT 14:00) – The ISM index is expected to rise to 51.4 in August from 51.2 in July, compared to a 14-year high of 61.4 in August of last year.

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.

Date : 2nd September 2019.

MACRO EVENTS & NEWS OF 2nd September 2019.



* The Economic calendar is packed with the usual start-of-the-month releases on trade, manufacturing, and Jobs. Other than the RBA and BoC meetings next week and the trade war development, Brexit drama will remain the hot topic for markets as Parliament suspension generated a veritable political storm given the length and timing of it, as it is the longest in duration since 1945.

Monday – 02 September 2019

* Caixin Manufacturing PMI (CNY, GMT 01:45) – The Caixin manufacturing PMI acts as a leading indicator for the whole Chinese economy. The reading for August is expected to hold below the neutral zone, at 49.8 from 49.9 last month.

* Manufacturing PMI (GBP & EUR, GMT 08:30) – In August, the German and UK PMI are expected to remain unchanged in the negative region, 43.6 and 48.0 respectively.

Tuesday – 03 September 2019

* Retail Sales (AUD, GMT 01:30) –Australian July Retail Sales data are projected to rise by 0.3% m/m from 0.4% m/m in June.

* Interest Rate Decision and Statement (AUD, GMT 04:30) – In July, RBA Governor Lowe’s statement, while justifying the easing in policy, contained some cautiously upbeat observations, noting that “a lift in wages growth” is expected in the private sector, that inflation is anticipated to pick up (the central scenario being for underlying inflation to be around 2% in 2020 and a little higher after that), and that “tentative signs” of stabilization are being seen in Sydney and Melbourne housing markets. After implementing back-to-back rate cuts in June and July, RBA will be on hold for the foreseeable, albeit retaining a dovish policy stance.

* ECB’s Nominated President Lagarde speech (EUR, GMT 07:00)

* ISM Manufacturing PMI (USD, GMT 14:00) – The ISM index is expected to rise to 51.4 in August from 51.2 in July, compared to a 14-year high of 61.4 in August of last year.

Wednesday – 04 September 2019

* Gross Domestic Product (AUD, GMT 01:30) – Australia’s economic growth is likely  to remain soft in Q2 2019, with GDP rising by 0.5% q/q, including consumption growth of 0.4% up from 0.3% in the March quarter.

* Trade Balance (CAD, GMT 12:30) – Canada could ran to a C$0.3 bln trade deficit in July, from the C$0.1 bln trade surplus in June which contrasted with projections for a return to a mild shortfall.

* Interest Rate Decision and Statement (CAD, GMT 14:00) – Last time, BoC reaffirmed its commitment to steady policy, as an economy returning to potential growth contrasts with an outlook “clouded by persistent trade tensions.”. The expectations remain for no change of the policy outlook from the BoC through year-end, with the next move expected to be a modest rate hike in late 2020.

Thursday – 05 September 2019

* ADP Employment Change (USD, GMT 12:15) – Employment change is seen falling short from July’s outcome (156K) to 140k in the number of employed people in August.

* Non-Manufacturing PMI (USD, GMT 14:00) – The US Non-Manufacturing PMI is expected to rise to 54.1 in August from 53.7 in July and a 19-month low of 56.1 in March, versus a 13-year high of 60.8 in September. A stabilization in sentiment is seen through the first half of 2019 after a winter drop, and we’ve see a renewed down-tilt into Q3, though most sentiment measures remain in expansion territory, and the early-August sentiment measures were firm..

Friday – 06 September 2019

* UK court hearing on forcing no-deal Brexit

* NFP and Labour Market Data (USD, GMT 12:30) – A 155k August nonfarm payroll rise has been estimated, following a 164k increase in July. The unemployment rate should tick down to 3.6% after an uptick to 3.7% in June that was sustained in July, and hours-worked are estimated to rise 0.3%. Average hourly earnings should rise 0.3% m/m.

* Employment Change (CAD, GMT 12:30) – Employment change is seen spiking to 12.5k in the number of employed people in August, compared to the decline 24.2.2k in July. The unemployment rate is expected to remain at 3.7%.

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.

Date : 30th August 2019.

MACRO EVENTS & NEWS OF 30th August 2019.



FX News Today

* News that the Bank of Japan cut purchases in its regular operations added to pressure on JGBs, but bond markets in general were pressured as risk appetite returned.

* Hopes of US-Sino trade talks continued to underpin risk appetite. Wall Street closed higher yesterday, while optimism continued to underpin markets across Asia, which are set to end a difficult month on a high note.

* President Trump said some trade discussion were taking place with more talks scheduled and China’s commerce ministry signalled it won’t retaliate on new US tariffs for now, adding that a further escalation is not helpful and that it was more important to discuss a cancellation of tariff increases.

* ECB’s Knot meanwhile questioned the necessity for a restart of asset purchases late yesterday, which suggests the risk of disappointment for markets, who have been pricing in a very comprehensive easing package for the September meeting.

* The focus is now turning to important data releases over the weekend, including China’s official manufacturing survey.

* European stock futures are also moving higher, although US futures are struggling to hold earlier gains.

* The WTI future is trading at USD 56.51 per barrel.

* AUD and NZD both saw weaker building approvals data reported, AUD especially at 9.7% drop.

Charts of the Day



Technician’s Corner

* EURUSD traded to near one-month lows, bottoming at 1.1042, down from earlier session highs of 1.1092. The pair is now within striking distance of the 27-month low of 1.1027 seen on August 1. General Dollar strength has been a driver through the session, with the positive trade news supporting. In addition, the USD’s yield advantage over largely negative yielding EGBs should continue to weigh on EURUSD going forward. A break through the key 1.1000 psych level will shift overall market sentiment, though there has been some talk of barrier options at the level, which will initially at least, likely be defended.

Main Macro Events Today

* Consumer Price Index (EUR, GMT 09:00) – The Euro Area flash CPI for August is expected to rise slightly, at 1.1% y/y from 1.0% y/y last month. Eurozone Unemployment rate is anticipated steady at 7.5%.

* Gross Domestic Product (CAD, GMT 12:30) – Canada’s economy remained sluggish in Q1, with real GDP rising just 0.4% (q/q, saar) after a 0.3% gain in Q4 (revised from 0.4%). The Q1 growth rate was shy of expectations, but it was far from a shocking result as tepid activity was projected as the economy continued to recover from the oil price shock last year.  Meanwhile the Q2 release is expected to be released higher at 0.7% q/q from 0.4% gain in Q1 , due to the strong showing from net exports.The monthly trade report revealed a 14.7% gain in export volumes (q/q, saar) following the 4.1% drop reported in the Q1 GDP report.

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.