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  • Forex News and market analysis FBS

    Forex today: a lot of news

    • The greenback is continuing to rise. The US dollar index has almost reached the level of $94. Good news on a trade warís easing is supporting the upward movement.
    • More information on the trade warís issue. After 5-day negotiations in Washington, the US and China came to an agreement. Countries agreed to put trade tariffs on hold. Moreover, China plans to "significantly increase purchases" of U.S. goods. However, putting trade tensions on hold does not mean an end of the conflict. Letís see how long the US and China will be loyal to each other.
    • The euro continues its downward movement. EUR/USD is trading within 1.1680-1.1840. Italy still puts pressure on the single currency. Today, leaders of two coalition parties - the League and the 5 Star Movement - will meet with the Italian president to present their candidate on a position of a prime minister. Whether the president will approve the candidate, the Italian governmentís formation will be closer to the end. However, it is not supposed to encourage the single currency a lot, as worries on the future policy of the new government still exist. The euro is anticipated to trade within 1.1680-1.1840.

    • The pound is losing points ahead of the next round of Brexit negotiations. GBP/USD tested the support at 1.34. No important economic data will be released today. So if bears are stronger, the pair will break the support at 1.34. Otherwise, it will trade within 1.34-1.35. On Tuesday, the next round of Brexit talks will take place in Brussels. Last week was full of mixed news. Firstly, there were reports in the media that the UK is ready to stay tied to the customs union beyond 2021. Then, however, British Prime Minister Theresa May said on Thursday that Britain will leave the EU customs union after all. As we can see, the Tuesdayís round is supposed to be interesting. Moreover, inflation report hearings will be out on Tuesday at 12:00 MT time. The pound has chances to recover.

    • The easing of the trade warís tensions was supposed to support the aussie. However, the Australian currency could not gain momentum. AUD/USD is above the pivot point at 0.75 for the third day. No notable economic data are anticipated either on Monday or on Tuesday. If traders take into consideration trade warís easing more seriously, the AUD/USD pair has chances to stay above the pivot point. Otherwise, the strong greenback will weigh on the AUD/USDís movement and the pair will break the support (pivot point) at 0.75.

    • The New Zealand dollar lost a chance to break above the pivot point at 0.69 because of the weak retail salesí data (actual 0.1% vs forecast 1.0%). NZD/USD plunged below the support at 0.69 and is moving to the next one at 0.6850. No significant economic data are anticipated to be released in next few days, so, only the weaker greenback will be able to pull the NZD/USD pair back to the pivot point at 0.69.

    • The NAFTA deal is under pressure. Treasury Secretary Steven Mnuchin said that US president Donald Trump aims at a good deal and he doesnít worry about any deadline. Moreover, it doesnít mean that Mr. Trump will avoid withdrawal from the deal or any other action if he decides itís the best option. Negotiations may continue until 2019. The comments appeared after Trump administration missed a deadline for finishing the agreement by May 17.

    The USD/CAD pair was rising since Thursday till the beginning of this week. However, up to now, the Canadian dollar is rising against the US dollar. Maybe news on a possibility of any negotiations supported investorsí confidence in any progress in the deal. USD/CAD is moving to the support at 1.2850. Today is a bank holiday in Canada. As a result, no important data will be released. If bears are able to pull the pair below the support, the next aim is at 1.2825 (50-day MA). Otherwise, the pair will stay above 1.2850.

    That is all for today. Follow markets news with us!

  • #2
    Asia-Pacific equities mostly go down


    On Tuesday, stock indices of the Asia-Pacific region mostly declined notwithstanding the growth of quotations on Wall Street because investors looked for fresh signals after the tension in trade between the US and China receded. Crude futures rallied in Asia after they hit the highest level for three and a half years. Additionally, the financial markets in South Korea and Hong Kong are unavailable today due to an official day off.
    The Australian market headed south notwithstanding upbeat signals from Wall Street.
    Large four financial institutions - Westpac, Commonwealth Bank, National Australia Bank and ANZ Banking - traded with a dive in the range 0.5%- 1%.
    Mining companies also traded with a sag after diving prices for iron ore. Equities of BHP Billiton slumped by 0.6%, Rio Tinto decreased by 0.2%, and Fortescue Metals lost 0.3%.
    In addition to this, the market value of Evolution Mining rallied by 0.2%, Newcrest Mining acquired 0.4% in the face of a moderate increase in the price of gold.
    The Japanese market traded with a moderate slide after the opening in the green zone. Moreover, a stronger Japanese yen affects stocks of exporters.
    Equities of Canon went down by 0.2%, Panasonic lost nearly 2%.
    As for Sony, this company lost nearly 1% of the value of its stocks after the company told it agreed to buy a stake in Mubadala Investment Co. in EMI Music Publishing for nearly $2.3 billion. Meanwhile, the market value of Mitsubishi Electric ascended by about 2%.
    Shares of Takeda Pharmaceutical added 0.7% after the company told itís on the verge of transfering its entire 51.34% stake to the Chinese joint venture Guangdong Techpool Bio-Pharma, which appears to be a partner of Shanghai Pharmaceutical Holding, and an investment fund. As for the amount of the transaction, itís believed to account for $280 billion.



    • #3
      Forex today: risk-off sentiment is shaking markets

      • The US dollar managed to recover after a slight fall. The US dollar index is near $93.80. Today traders will pay attention to Fedís meeting minutes at 21:00 MT time. If the speech is more hawkish, the greenback has chances to stick to new highs near $94.
      • The euro is continuing to fall. EUR/USD is near the support at 1.1720. No important economic data will be released today. If the pair is able to break 1.1720, the next weekly pivot point support is at 1.1680. Moreover, on the weekly chart, we can see that the upper boundary of the Ichimoku cloud lies at 1.1680 as well. It will strengthen a possibility of the pairís rebound.

      • The pound fell because of weak economic data and continuing pressure of the Brexit deal. A new round of Brexit negotiations is taking place in Brussels from Tuesday to Thursday.

      GBP/USD broke the support at 1.34 and tested the next one at 1.3350. On Thursday, retail sales data will be released and the BOE governor will give a speech. Whether retail salesí data will be greater and Mr. Carney will give positive clues on the UK economy, there are chances of the poundís recovery.
      • US presidentís comments increased risk-off sentiments. Mr. Trump said that he isnít pleased with talks with China. Moreover, Donald Trump has doubts on the summit with North Korea. The third issue that the US has to solve is Iran nuclear deal. The US withdrew from the deal, however, it hasnít produced a realistic path to a new one yet.
      • USD/JPY fell amid new risks. The pair broke below 61.8 Fibo level and the support at 110.35. Up to date, USD/JPY is trading near 200-day MA. Whether the pair is able to break the MA, there are risks of the further fall to 109.77. If risks ease, the pair has chances to return to levels above 110.35.

      • The New Zealand dollar is declining. NZD/USD tested levels above 0.6940 because of a positive milk price forecast by Fonterra. It is well-known that the dairy industry is a huge driver of the New Zealandís economy. However, the forecast didnít support the NZD/USD pair. Unexpected comments of the Reserve Bank of New Zealand pulled NZD/USD down. Although currently, it doesnít aim at introducing the unconventional monetary policy, there is a possibility of implementing a quantitative easing in a crisis. As a result, the pair broke the support at 0.69. No significant data will be released today. But on Thursday, trade balanceís data will be released. The forecast is much greater than the previous data. If the actual one is greater than the forecast, there is an odd of the pairís rebound above 0.69.

      That is all for today.


      • #4
        The US Dollar, though concluded Wednesday's session cautiously far and wide afield along, pulled serve some of its gains as the FOMC meeting minutes crossed the wires. Heading into the official pardon of the document, the markets were already widely anticipating a rate hike at the Feds moreover-door-door monetary policy flyer in June. In fact, this months merged rate decision prepped the markets for it as the central bank upgraded its views in this area inflation.

        This in incline made officials expectations on prices arguably the most important aspect of the declaration as the markets gauge the likelihood of new tightening thereafter. On this front, policymakers noted that it was premature to conclude that inflation would remain at levels in the region of 2 percent. In append, members noted that a modest inflation overshoot could be obliging.

        The US giving out goodwill yields from all ends of the maturity date spectrum declined to signal ebbing hawkish Fed rate hike expectations. Stocks concerning the calculation hand climbed bearing in mind the S&P 500 closing not quite 0.32% progressive. It seems that the comments indicated that Federal Reserve officials are perhaps in no hurry to tighten more speedily. But do save in mind that in the US, well along rates are still utterly much likely concerning the enlargement this year.

        It is furthermore important to note that the Fed is back to monitoring the current global trading atmosphere. The minutes showed that in regards to trade policies, a number of participants viewed the range of attainable outcomes for economic ruckus and inflation to be particularly broad. They noted that uncertainty surrounding trade issues could wet issue sentiment and spending.

        Speaking of that, as the markets transitioned into Thursday's session, US President Donald Trump was behind weighing Section 232 to believe to be tariffs of occurring to 25% in this area auto imports. The justification for it was via national security grounds.


        • #5
          Forex today: risk-off sentiment is still actual

          • The US dollar is falling. On Wednesday, the greenback managed to test levels above $94, however, didnít stick there and closed at $93.90. On Thursday, the US dollar index is climbing down. The reason is a Wednesdayís meeting of the Fed. According to the report, the central bank is not going to hurry to increase the pace of rate hikes. The market already anticipates 2 additional rate hikes this year. Thatís why investors need clues on a bigger number of rate hikes. The US dollar index is trading near $93.80.
          • There was a big fall of the euro yesterday as economic data appeared to be weaker than expected.

          Up to now, EUR/USD managed to recover and is trading near the resistance at 1.1720. The European Central Bank will release its report of the most recent meeting today at 14:30 MT time. If the central bank is hawkish, the euro will have chances to rise further. Otherwise, no important economic data and events will be out today. So there is a risk that EUR/USD will not be able to break the resistance at 1.1720.
          • A new round of Brexit negotiations will end today, however, some headlines have already affected the pound. There are talks that Theresa May is going to ask the EU to prolong the transition period to 2023 (up to date, the period has to end at the end of 2020). On Wednesday, the UK currency closed below the pivot point support at 1.3350. However, comments on Brexit deal managed to encourage GBP, so, GBP/USD is trying to break above 1.3350. More positive news on the Brexit deal will support the further movement above 1.3350. Moreover, traders should pay attention to retail salesí data at 11:30 MT time. The forecast is encouraging. If the actual data is greater than the forecast one, the pound will get an additional support. The last but not least, the BOE governor Mr. Carney is giving two speeches today (11:00 MT time and 20:00 MT time). Whether the governor sounds hawkish, the pound will rise.

          • More positive news for the yen. The risk-off sentiment is increasing as North Korea officials suggested reconsidering the summit with the US. Moreover, US president Mr. Trump announced a possibility of new tariffs. The US Commerce is initiating an investigation into auto imports.

          The USD/JPY pair is near the support at 109.70. Yesterday the pair couldnít break this level, however, a weaker US dollar and the risk-off sentiment are putting pressure on the pair again. However, if we look at the weekly chart, we can see that the pair at a strong support: the pivot point support, 50.0 Fibo level, and 100-week MA. It means that a chance of the further fall to 108.50 is not high. A risk of a pullback to 110.35 is more likely.
          • The Canadian dollar is continuing to fall. The first reason is an oilís depreciation. The second reason is a Canadian governmentís ban on a takeover of construction firm Aecon Group Inc. by a unit of China Communications Construction Co. USD/CAD broke the resistance at 1.2825 and tested the next resistance at 1.2850. Whether the pair is able to close above 1.2850, there is a possibility of the further rise to 1.2950. However, the greenbackís depreciation may slow down the further rise. So the pair will stay within 1.2825-1.2850.

          That is all for today.


          • #6
            The U.S. dollar rose to a sixth-month high as mostly wandering U.S. durable goods data suggested the U.S. economy was strong sufficient to money extra Fed rate hikes.
            The U.S. dollar index, which events the greenback's strength following to a trade-weighted basket of six major currencies, rose by 0.38% to 94.08, after hitting a high of 94.19.
            The Commerce Department said re Wednesday Core Durable Goods Orders rose 0.9% last month, beating economist predict for a 0.5% rise. The nondefense capital goods orders ex-plane, a gauge of event spending, rose 1%.
            Business investment spending is hermetically sealed sufficient to save the Fed around the gradual alley of appeal rate hikes, where order books are full, but not allowable to strain attainment and benefit to more inflation, BOT Mitsubishi said gone the deem not guilty of the data.
            The ongoing slump in the euro in the wake of rising Eurozone uncertainty supported auxiliary gains in the greenback.
            EUR/USD fell 0.47% to $1.1664 and was set for its sixth-straight week of losses as Spanish Prime Minister Mariano Rajoy faces a no-confidence vote, even if Italian diplomatic uncertainty plus weighed almost the single currency.
            GBP/USD fell 0.48% to $1.3316 as soon as the liberty of U.K. GDP data that was in-heritage previously than expectations.
            USD/JPY rose 0.16% to Y109.43 in the sky of U.S. President Trump's reverse ferret upon the North Korea peak after counterpart Kim Jong Unscaled gives advance to his recent inflammatory rhetoric and said he continued to favor at the meeting like Trump at the summit in Singapore.
            USD/CAD rose 0.73% to C$1.2976 as falling oil prices continued to assert the pair in the space of reports OPEC and its allies could lift curbs upon oil output.


            • #7
              Forex today: lots of tensions

              • The US dollar index is above $94.50. Today traders will pay attention to consumer confidence data (17:00 MT time). The forecast is weaker than the previous data. However, if the actual one will be greater than the forecast, the US dollar will be able to rise further. The resistance is at $95.
              • The euro is continuing to fall on Italian uncertainties. New election, forming of a ďneutralĒ government, a possibility of impeachment of Italian president are still in the arena. Moreover, todayís economic data werenít highly encouraging. Money supply data was at the same level of 3.9% as expected, private loans fell (2.9% vs 3.2%).

              EUR/USD broke the support at 1.1580 and moving further. The next aim of bears is 1.1520.

              Continue at FBS site


              • #8
                Forex today: the greenback is climbing down


                Something you should definitely know. George Soros warns about another financial crisis. According to the legendary billionaire, rising anti-European Union sentiment, the disruption to the Iran deal, a soaring dollar and investors taking money out of emerging markets are adding up to bad news for the global economy.

                The US dollar index couldnít break the resistance at $95, so it rebounded. The index is below $94.50. The support lies at $94.30. Today traders will pay attention to nonfarm employment change (15:15 MT time) and prelim GDP (15:30 MT time). The forecast isnít encouraging, however, if the actual data are greater, the greenback will be able to rebound.

                Continue at:


                • #9
                  Forex today: appreciation against the USD

                  More info:


                  The US dollar index strongly fell on Wednesday because of weak economic data. Prelim GDP growth was weaker than the forecast one by 1 percentage point (2.2% vs 2.3%). ADP nonfarm employment change was weaker as well (178K vs 191K). Up to now, the US dollar index is below $93.90. The support lies at $93.50. A lot of economic data will be released today. If actual data are greater than the forecast ones, the US dollar will be able to recover.


                  • #10
                    Forex today: the USD is falling again



                    The US dollar index is falling again. It has tested levels below $94. No important data will be released today. The support lies at $93.70.
                    The EU economic data arenít encouraging today. However, the euro managed to rise because of the US dollarís weakness. EUR/USD rebounded from the support at 1.1650. Up to now, the pair is moving to the resistance at 1.1750 (100-hour MA). The further fall of the greenback will let the pair close above the resistance. Otherwise, the pair will trade within 1.1650-1.1750. Tomorrow a lot of economic data will be released. If they are encouraging, the euro will have chances to continue the upward movement.


                    • #11
                      Forex today: no significant movements


                      Keep reading:

                      On Monday, the US dollar index tested lows near $93.60. Tuesdayís trading isnít extensive, but the index is at $94. ISM non-manufacturing PMI (17:00 MT time) should support the greenback. The forecast is positive, if the actual data is greater, the greenback will rise.
                      The euroís trading isnít extensive. Traders are looking at European economic data. The data are mixed, as a result, EUR/USD doesnít show an accurate direction. The pair is trading near 1.17. More economic data will be released during the day. The further movement will depend on them. The euro is anticipated to trade within 1.1650-1.1750.


                      • #12
                        Forex today: the USD continues to plunge

                        More at: paign=EN_English&utm_content=SebastianAnalyticsSig nalsFX


                        The US dollar index is lower and lower. It is trading near $93.65. Forecasts for todayís economic data arenít encouraging. If the actual data are greater than the forecast, the US dollar will have chances to find a foothold. Otherwise, the index will fall to the support at $93.50.

                        Finally, the euro strongly rebounded from the support at 1.1650. Up to now, EUR/USD is trading above the resistance at 1.1750. No important economic data will be released today, so the euro can rely only on the weak greenback. 50-day MA is near to cross the 200-day MA upside down. Itís a warning signal for the trading. There is a risk of the fall, however, until MAs will be crossed, the trading will be bullish.

                        The euro is highly volatile as the European Central Bank keeps the quantitative easing program. However, positive news for the euro may come on June 14 when the ECB will hold a press conference. European Central Bank policy makers anticipate holding a pivotal discussion at their meeting next week that could conclude with a public announcement on when they intend to cease asset purchases. Moreover, the ECB is anticipated to debate whether to gradually unwind bond purchases. The head of Germanyís central bank, Jens Weidmann, said market expectations for an end to bond-buying by end-2018 were plausible.

                        The Japanese yen continues to depreciate against the US dollar. USD/JPY rebounded from the support at 109.70. Up to now, the pair is trading near the 200-day MA (110.20) that is a strong resistance for the pair. If the US dollar index continues to fall, the pair wonít be able to break the resistance, otherwise, the pair will move further to 110.85.

                        The Australian dollar is rising again because of encouraging economic data. GDP growth was greater than expected (1.0% vs 0.9%). As a result, AUD/USD rebounded from the support at 0.7610 and tested resistances at 0.7640 and 0.7660. On the weekly chart, 100-week MA at 0.7640 doesnít let the pair stick above it. No more significant data will be released today. However, tomorrow traders will take into consideration trade balance data (4:30 MT time). The forecast is weaker than the previous data, so the AUD/USD pair has risks to return to 0.76 (50-day MA is a strong support). If the data is greater than the forecast, the aussie will have chances to gain a foothold above 0.7660.

                        Oil is going up. Brent is trading near $75.90, WTI is at $65.60. Today investors will look at crude oil inventories data at 17:30 MT time. The forecast shows a decline of inventories, however, the decline is less than the previous data. If the actual one shows a surplus or less deficit than the forecast, both oil benchmarks will decline.

                        Brent: support lies at $74.60 (50-day MA and the trendline), resistance is at $76.65.

                        WTI: support is at $65.20 (100-day MA), the resistance is at $66.30 (the trendline).

                        That is all for today.


                        • #13
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                          • #14
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                            • #15
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