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  • #16
    Forex today: movements are mild

    More at: https://fbs.com/analytics/news/forex...yticsSignalsFX

    12.06.2018

    It happened! US President Donald Trump met with the North Korea’s leader Kim Jong-un. According to an announcement of Mr. Trump, countries came to an agreement and a process of denuclearization will start very soon.
    The US dollar index can’t rebound from the psychological level of $93.50. The index tried to reach the resistance at $94, however, it couldn’t and returned to $93.50. Today traders will look at economic data. Inflation figures will be out at 15:30 MT time. If the actual data are greater than the forecast ones, the US dollar index will go up again. Otherwise, a fall below $93.50 is anticipated.
    The euro can’t break the resistance at 1.18 for several days. No significant economic data are released on Tuesday. The movement of EUR/USD will depend on the strength of the US dollar. If the US dollar increases after the release of the economic data, EUR/USD will not be able to close above 1.18. Otherwise, the pair has chances to break above 1.18.



    Economic data were neutral for the pound.



    GBP/USD is testing the resistance at 1.34 (the pivot point). No more significant economic data will be released today, as a result, there are risks of the pound’s fall. The support is at 1.33. The resistance is at 1.35. GBP/USD is anticipated to trade near 1.34.



    USD/JPY tested the significant resistance at 110.20 (200-day MA and 50-week MA). Trade and geopolitical tensions are mild, as a result, the yen is weak. The greenback needs to strengthen to pull the pair above the resistance. Otherwise, the pair will trade within 109.70-110.20.



    Oil managed to rise, however, it doesn’t support the Canadian dollar. USD/CAD is rising. However, the pair is still within 1.2950-1.3040. The further movement will depend on the US dollar. If it’s strong, the pair will be able to reach the resistance at 1.3040. Otherwise, the pair will go to the support at 1.2950.



    No changes in directions of other currencies.

    That is all for today.

    Comment


    • #17
      ECB meeting is key for the EUR

      Follow at: https://fbs.com/analytics/news/ecb-meeting-is-key-for-the-eur-2846?utm_source=forum&utm_medium=affiliate&utm_cam paign=EN_English&utm_content=SebastianAnalyticsSig nalsFX

      13.06.2018

      The euro is under pressure. Its fall continues since the middle of April. EUR/USD reached the lowest levels since November 2017. A strong plunge of the single currency is caused by the weak economic data. The European economy suffers because of political problems in Italy, the Brexit deal, and trade wars.

      The European Central Bank will release the interest rate at 14:45 MT time on June 14. At 15:30 MT time, the central bank will hold a press conference.

      The ECB has been keeping the interest rate on hold since March 2016. Investors don’t expect the interest rate to be changed as the central bank hasn’t ended the quantitative easing yet. At the previous meeting, the ECB stated that “members broadly agreed that an ample degree of monetary policy accommodation remained necessary to accompany the economic expansion and secure the gradual convergence of inflation to levels below, but close to, 2%. The remaining uncertainties and the still muted underlying inflation pressures continued to justify caution and underlined the need to maintain patience, persistence, and prudence with regard to monetary policy”. It puts additional pressure on the euro.

      If the central bank stays cautious this time as well, the euro won’t have chances to recover.

      • Dovish ECB – weak euro;

      • Hawkish ECB – strong euro.

      Comment


      • #18
        China demonstrates signs of slowing economic surge

        Follow this: https://fbs.com/analytics/news/china...yticsSignalsFX

        14.06.2018

        China's major financial institution has been heavily distracted by the immediate soar in borrowing costs after the American Federal Reserve System, while Chinese economic data for May disclosed that the economy of the leading Asian country is losing momentum.

        In May, in this Asian country industrial output tacked on by up to 6.8% in contrast with 2017, as the National Bureau of Statistics revealed. It turned out to be lower than the previous reading of 7% as well as experts’ estimate of 6.9%.

        Additionally, the bureau informed that in May retail sales went up by only 8.5%, although market experts had hoped for a 9.6% leap after a soar of 9.4% in April.

        Investments in fixed assets rallied by 6.1% in May in contrast with the same period of 2017, which is also lower than the estimate of market experts as well as the previous reading of 7%. Evidently, it appeared to be the slowest surge since 1999.

        In May, the unemployment rate in urban areas went down to about 4.8% versus April’s reading of 4.9%.

        With a steep slowdown in lending surge as well as the threat of an escalating trade dispute with America, China’s enterprises are coming across increasingly quite prospects. The country’s major bank made an attempt to back surge by ramping up liquidity and although it can still lift the Fed's rate for market experts, the very fact that it didn’t do so right now is interpreted as an indication of concern about the Chinese economy.

        The data is 100% confirmed by a slowdown in industry as well as retail trade in May that points to a slowdown in GDP for the second quarter.

        China’s attempting to provide liquidity for the purpose of mitigating any economic downturn and assisting lenders in meeting their repayment obligations.



        Comment


        • #19
          European equities go down on trade tensions


          18.06.2018

          On Monday, European equities kept diving for a second day because concerns over a trade conflict between the United States and China kept market participants on the edge. Meanwhile, cable manufacturer Nexans slumped following a revenue warning.

          The STOXX 600 index dived 0.6% after Donald Trump powered trade tensions by proceeding with his tough tariff stance on China’s imports, giving the Chinese government grounds to instantly respond.

          Germany's DAX sank by 0.8%, suppressed by concerns that a downtime over migration policy could have Merkel's three-month-old coalition government destabilized.

          Other suppressing factors for the German index were represented by software maker SAP, sportswear maker Adidas and industrial group Siemens – all of them declined 1%-1.9%.

          France's Nexans went down 18.2%, while its Italian outcome headed south 2.2%.

          French gas and power group Engie headed south by 2.2% having told unscheduled outages at its Belgian nuclear reactors are going to have an impact of nearly 250 million euros on its net and core revenue this year.

          In general, deal-making activity powered stock moves.

          Norwegian Air Shuttle ascended 8.5% after Lufthansa told it was cooperating with the Norwegian carrier as for a probable combination.

          Norwegian drew attention of British Airways owner IAG. As a result, IAG managed to ascend 1.1%, while Lufthansa equities went down 0.1%.

          In addition to this, mid-sized financial institution Virgin Money jumped by 2.5% after CYBG approved a 1.7 billion-pound deal to buy its counterpart, thus creating the UK’s sixth-largest financial institution. Meanwhile, CYBG managed to gain 0.1%, Virgin Money pared profits, being nearly intact.

          Aerospace supplier Cobham tacked on by 5.5% following an upgrade to overweight. The upgrade was carried out by Morgan Stanley. Market analysts point out that the company’s current managers have managed to stabilize performance. All the necessary measures have been taken to ensure operational delivery.




          Comment


          • #20
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            Comment


            • #21
              Daily News: a big day for Central Banks

              More at: https://fbs.com/analytics/news/daily-news-a-big-day-for-central-banks-2892?utm_source=forum&utm_medium=affiliate&utm_cam paign=EN_English&utm_content=SebastianAnalyticsSig nalsFX

              20.06.2018

              A day will be full of speeches of central banks’ Kings! Mr. Lowe, the Governor of the Reserve Bank of Australia, Mr. Draghi, the President of the European Central Bank, Mr. Kuroda, the Governor of the Bank of Japan, and Mr. Powell, the Chairman of the Federal Reserve will participate in a panel discussion at the European Central Bank Forum on Central Banking, in Portugal (16:30 MT time). Let’s see what new they are ready to present.



              Author of the picture: Alexandros Michailidis / Shutterstock.com

              On Tuesday, the US dollar index managed to close above the psychological level at $95, as a result, it is going up today. Today traders will look at current account (15:30 MT time) and existing home sales (17:00 MT time) data. The forecast is mixed, so if the actual data are greater than anticipated, the index will go higher. Moreover, Mr. Powell will give a speech at 16:30 MT time. If he sounds optimistic, the USD will appreciate more. The resistance is at $95.40.



              Some threats for the Chinese yuan. According to the Wall Street Journal, “If the U.S. goes ahead with tariffs, China would need to consider some of the more aggressive options. Letting the yuan weaken becomes something that logically the Chinese would consider.” Let’s have a look at the chart. USD/CNH is growing since June 14 when Mr. Trump announced additional tariffs on Chines goods. The pair is trading at highs of January 2018. If Mr. Trump imposes new tariffs he announced just yesterday, the pair will move even higher.



              The oil market is trying to recover. Today crude oil inventories data will be released at 17:30 MT time. The forecast is not encouraging for oil as the decline in a number of barrels will be less than last week. However, the data from the private survey of the US Energy Information Administration showed a bigger decline than anticipated. As a result, up to now, Brent and WTI are going up. If the official data shows a greater decline as well, the further rise is anticipated. However, if the decline is less than anticipated or even there is a surplus, both oil benchmarks will go down.

              WTI is above the pivot point at $65.25, however, 100-day MA is weighing on it. If data is encouraging for the oil market, WTI will move to the resistance at $66.20. Otherwise, it will go down to $63.30.



              Brent is moving up as well. The oil benchmark tested the resistance at $75.70. However, 50-day MA is putting pressure on it. If data is encouraging, Brent will be able to break the resistance, otherwise, it will return to the support at $74.35.



              Oil is rising, as a result, USD/CAD doesn’t have enough strength to rise. The pair couldn’t break the resistance at 1.33. The further movement will depend on the strengthening dollar and oil data. If they are not encouraging for the Canadian dollar, the pair will be able to break the resistance and move further to 1.3380. Otherwise, the pair will turn around and will move to 1.3120.



              No significant changes in directions of other currencies.

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

              Comment


              • #22
                WeeklyCryptoNews

                22.06.2018

                Just for fun!

                John McAfee, founder of McAfee Inc.: "All ICOs are Securities! I will not now, nor will I ever, accept this as a reality. I am submitting, now, to this law, but I will fight with every last breath to ensure that this absurd overreach by the SEC will not stand!! It will not stand!”

                Several days later…

                “Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest. It is unjust but it is reality. I am writing an article on an equivalent alternative to ICOs which the SEC cannot touch. Please have Patience.” What can we say? Mr. McAfee and show are synonyms.



                Cryptocurrencies

                Bitcoin is lower and lower. The cryptocurrency couldn’t stick above the resistance at $6,500 and it plunged. Up to now, the digital currency is trading around $6,250. The support is still at $6,000.

                On the daily chart, the “Flag” continuation pattern was formed. It signals the continuation of the bearish trend.



                According to Tom Lee, a reason for the Bitcoin’s correction is Bitcoin Futures.
                The Bank of Korea won't launch its own cryptocurrency yet. According to the Bank, digital currencies are too risky and an implementation of such assets will cost a lot to the society and even can inflict moral damages. However, the Bank doesn’t refuse that it can launch it later. But it may happen only if the cryptocurrency will be carefully tested.
                The Head of Circle Jeremy Allaire said that every fiat currency will have a cryptocurrency counterpart. He also announced a launch of USD Coin – a stable cryptocurrency that will be dollar-backed.
                If you want to use cryptocurrencies, you should go to Australia. A pharmacy started accepting cryptocurrencies as a payment in one of the cities. Buyers can pay for medical supplies with Bitcoin, Litecoin, Dash, and Ethereum. It’s worth saying that you can use cryptocurrencies in different places in Australia. For example, citizens can buy Bitcoin and Ether in news stalls.
                A cryptocurrency project Turcoin of an Istanbul company Hipper appeared to be a financial pyramid. One of the founders left the country with the money of investors. Sells of the altcoin started in October 2017. Founders of the token called the Turcoin a national cryptocurrency and had been organizing events for investors with celebrities and expensive presents. However, it appeared to be a scam.
                A representative of Goldman Sachs said that the company is working on services to work with cryptocurrencies. The company is going to launch its own flexible version of futures, known as a non-deliverable forward. Moreover, the bank will implement futures, trading payments on which will be carried out in Bitcoin, and not in fiat currencies.

                However, previously the СЕО Goldman Sachs Lloyd Blankfien announced that Bitcoin doesn’t deserve his attention and that he doesn’t use cryptocurrencies.

                According to a research, Bitcoin mining consumes a half of electricity it is supposed to consume.

                Cryptocurrency exchanges

                Hackers attacked the cryptocurrency exchange Bithumb and stole 35 billion South Korean Won (about $31 million).

                Blockchain

                The Bank for International Settlements declared that if blockchain is used for daily payments, the Internet may stop working. The bank thinks that only supercomputers will be able to support retail transactions with the necessary power. It’s well-known that the Bank has a negative attitude to Bitcoin and blockchain. The General manager of the bank said that Bitcoin is a bubble, Ponzi scheme, and an ecological disaster.
                The Department of Homeland Security (US) allocated the fourth grant to the blockchain startup Factom. The received financing in the amount of about $192K will be used to test a platform that is supposed to protect data received from security cameras and sensors of the US Border Service. Factom received the first grant from the US government in 2016.

                Bitcoin $6,385 (-5.35%)

                DASH $244.78 (-8%)

                Ethereum $493.80 (-7.74%)

                Litecoin $89.357 (-8.24%)

                Comment


                • #23
                  German business morale shows its worst reading for more than a year More info: https://fbs.com/analytics/videolesso...ssonsSignalsFX 25.06.2018 In June, German business confidence slipped to its lowest value for more than a year, thus dropping a hint that the mood among company executives in the EU’s number one economy is worsening as the world is getting closer to a full-fledged trade conflict. Activity in all four sectors gauged by the Munich-based Ifo institute in the survey conducted on Monday - services, trade, manufacturing as well as construction – headed south, contributing to signs the German economy is currently speeding down after the previous year’s boom. Ifo told that its business climate index slipped to about 101.8, which is the lowest outcome since May last year. The given outcome was a bit firmer than anticipated in a Reuters consensus estimate of 101.7. However, market experts excluded an economic downtime. Additionally, they forecast the German economy would keep soaring although at a slower tempo than the previous year’s outcome of 2.5%. The mild dive reaffirms expert’s narrative of the German economy speeding down to a normal surge level. However, it shouldn’t be regarded as a downturn or recession. Much of the German data released in 2018 has pointed to the fact that the German economy is speeding down. Industrial activity as well as exports happened to be dismal in the first four months. Additionally, American leader Donald Trump is currently threatening to put huge duties on car imports from the European Union - a trade that Germany has always dominated. Moreover, German business leaders are also concerned by the fact that a parallel trade feud between Beijing and Washington could harm exporters, traditionally relying on the world's two leading economies for surge. Some market experts point out the economic boom has already stopped and Germany’s economy is demonstrating signs of normalization.

                  Comment


                  • #24
                    Daily News: trade war is a real threat

                    26.06.2018

                    It’s something worth to look at!

                    A lot of comments from authoritative financial institutions.

                    JP Morgan determines 7 key risks for the second half of 2018:

                    Trade conflicts become an economically-significant trade war.
                    US politics becomes even more complicated (Mueller investigation, mid-term elections).
                    US core PCE inflation overshoots 2%, triggering faster Fed tightening.
                    OPEC-Russia relaxation of oil accord becomes disorderly.
                    Italy over eases fiscal policy and courts a funding crisis.
                    US's strike-first-negotiate-later approach to diplomacy brings military entanglement in South China Sea, Korea, Iran or Syria.
                    Liquidity risk turns a minor macro event into a major financial one.

                    Traders, take these risks into consideration as they will affect trading!

                    A Barclays outlook for the second half of 2018. According to the company, the USD is supposed to rise against the euro but fall against the JPY. A year-end forecast: EUR/USD 1.12, USD/JPY 107. Emerging markets will continue weakening against the USD. USD/CNY is anticipated to end the year at 6.6, USD/INR will be at 72.
                    Goldman Sachs analysts worry about trade wars. According to the bank, trade war risks are more than just talk now. Unclear messages about the further escalation of the trade issue really confuse investors and roil their sentiment.

                    Let’s move to daily news.

                    The US dollar index is trying to recover. On Monday, it closed below $94. Up to now, it’s slightly above $94. The further direction will depend on CB consumer confidence data (17:00 MT time). The forecast is weaker than the previous data, however, if the actual one is greater than the forecast, the US dollar index will be able to continue rising. However, a great surge to previous highs at $95 isn’t anticipated.



                    The EUR/USD pair couldn’t break the resistance at 1.1720 and continue the rise to the previous highs. Up to now, EUR/USD has been moving down. The support is at 1.1610. No important economic data will be released today. As a result, the further movement will depend on the USD’s strength. If the index rises, EUR/USD will go closer to the support, otherwise, it will be able to return to the resistance at 1.1720.



                    USD/JPY is trading near 50.0 Fibo level that doesn’t let the pair move down. Moreover, 50-day MA (109.65) is an additional support for USD/JPY. Trade wars weigh on markets, however, the Japanese yen needs an additional support. If the USD is stronger, the pair will trade above 109.65, otherwise, it will break the support levels and will move to 109.20.



                    Some news from China. The People's Bank of China cut the reference rate again. Up to now, it’s at the lowest level since January 10: 6.5180 (yesterday 6.4893). During the meeting with a group of US and European businessmen, Chinese President Xi Jinping said China will respond to US tariffs. Nothing new.



                    No significant changes in other pairs’ movements.

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

                    Comment


                    • #25
                      #WeeklyCryptoNews

                      29.06.2018

                      Nobel economics prize winner Robert Shiller: “It’s (Bitcoin) a social movement. It’s an epidemic of enthusiasm. It is a speculative bubble. That doesn’t mean that it will go to zero…Bitcoin is a social movement whose popularity splits along geographic lines in the US.”

                      Steve Wozniak, the co-founder of Apple called blockchain a “Bubble”, however, it still has the future and thinks Bitcoin is still “just amazing”.

                      Cryptocurrencies

                      Bitcoin is falling further. The cryptocurrency is under the support at $6,000. It’s a warning sign for the further Bitcoin direction. On Monday, the price managed to return above $6,000, however, couldn’t stick there. The next support is at $5,500. Bitcoin needs a support as soon as possible, otherwise, it will fall to $3,200 as analytics predicted before.



                      Tether released additional 250 million USDT again. Experts noticed it caused a surge of Bitcoin price and a rise in the trading volume. The founder of Litecoin Charlie Lee said that such situation isn’t new for Bitcoin. Previously the rise of the price happened exactly because of the additional release of USDT tokens.
                      Analysts said that a launch of ETF can push Bitcoin price up. If ETFs attract 24 million American investors and 14 million from the whole world, it will add $84 billion and $336 billion to the market capitalization.
                      More than 40 Bitcoin forks appeared at the market less than in a year. According to an analyst, such platforms as Fokgen let almost everyone create clones of major cryptocurrencies. Cryptocurrency investors don’t take them seriously. Just have a look at their names: Bitcoin Pizza, Bitcoin Candy, and Bitcoin God. According to June data, only Bitcoin Gold, Bitcoin Diamond, and Bitcoin Private are Bitcoin forks.
                      Antpool and BTC.com pools (under control of mining giant Bitmain) managed to mine 16.5% and 25.5% of all Bitcoin blocks. Cryptocurrency market worries that Bitmain may take control under 51% of the network’s hashrate. A threat that the major part of Bitcoin network will be controlled by one company may pull Bitcoin price even lower.
                      Investors prefer Ethereum to Bitcoin and are for the regulation of the cryptocurrency industry. According to a poll of Foley & Lardner LLP (US), despite the recent correction and uncertain regulation, 58% of respondents are open to investments and ready to develop the cryptocurrency business. 84% thinks that ICO should be under control of a federal government or separate states, 68% is for a regulation of buy/sell cryptocurrency operations.
                      FBI investigate 130 cryptocurrency cases. Cryptocurrencies were used while a human beings traffic, blackmailing offenses, a cybercrime and a drug industry.

                      Regulation

                      China is going to implement cryptocurrencies in the financial system.
                      Three bills about the blockchain regulation and ICO will be considered in Malta. It’s worth saying that Malta is one of the most cryptocurrency-friendly countries. Only in the last few months, Binance, OKEx and Bitbay cryptocurrency exchanges announced an opening of offices in the country.
                      Financial Services Commission of South Korea tightened control under cryptocurrency exchanges. Banks serving cryptocurrency exchanges have to track the movement of both funds in the accounts of traders and their own assets of cryptocurrency exchanges.
                      Facebook allowed limited cryptocurrency ads. To get a permission, advertisers have to provide Facebook with data on licenses, listing on stock exchanges data and any important public information about their businesses.

                      Cryptocurrency exchanges

                      The number of clients of the cryptocurrency exchange DX Exchange (based on the NASDAQ infrastructure) exceeded 500,000 people even before its launch. The cryptocurrency exchange will offer trading with 0% commission.
                      Coinbase will provide trading with the GBP. In March the cryptocurrency exchange started cooperating with Barclays (British Bank).

                      Blockchain

                      Alibaba tested payments with blockchain successfully. It took just 3 seconds to make a payment.
                      South Korea will invest $200 million to develop blockchain.
                      According to a research, 46 states have already presented more than 200 blockchain projects. The research company noticed that Blockchain can help states to resist manipulation of data and increase the transparency of operations, but noted that the "exaggerated hype" around the blockchain outshines its real capabilities.

                      Bitcoin $5,898 (-3.45%)

                      DASH $218.81 (-1.41%)

                      Ethereum $415.17 (-4.30%)

                      Litecoin $73.548 (-6.42%)

                      Comment


                      • #26
                        Daily News: lots of news after the weekend

                        09:55 02.07.2018

                        North Korea surprised again. The country is building its nuclear weapon. Despite an agreement between the US and NK, North Korea doesn’t want to lose its power. Tensions are escalating.
                        Some comments on trade tensions. Mr. Trump said that "the European Union is possibly as bad as China, only smaller". "They send a Mercedes in, we can't send our cars in. Look what they do to our farmers. They don't want our farm products. Now in all fairness, they have their farmers ... But we don't protect ours and they protect theirs". Let’s see whether there will be more comments on trade tensions. The aussie and the Japanese yen should react.
                        The Japanese yen reacted to negative news a little bit. USD/JPY tested the resistance at 110.90 but couldn’t break it and rebounded. Despite the rebound, bulls still prevail as the USD is still strong. The resistance lies at 110.90. If the US dollar index weakens, the pair will turn around to the support at 110.20 (200-day MA).



                        The US dollar index rebounded from the support at $94.50. Up to now, it has been moving up. The resistance lies at $95. Today traders will look at ISM manufacturing PMI data (17:00 MT time). The forecast is weaker than the previous data, however, if the actual data is greater than the forecast, the US dollar index will go up further.



                        The euro couldn’t stick to new highs and it weakened again. At the end of the last week, the EUR was supported by the agreement on the migration deal (EU economic summit). As a result, EUR/USD closed above the resistance at 1.1665. But an unstable situation in Germany is weighing on the European currency. It seems that Germany is meeting a coalition crisis again. Germany’s interior minister and leader of the Christian Social Union (CSU) Horst Seehofer has threatened to resign because of the conflict with Mrs. Merkel over migration. Let’s see whether parties will be able to come to an agreement. EUR/USD broke the support at 1.1665 and is trading near the next one at 1.1645. No important economic data will be released today, as a result, risks of the further fall are high.



                        Donald Trump doesn’t stop surprising. You should remember that he was against an OPEC activity and considered a NOPEC deal (No Oil Producing and Exporting Cartels Act). This bill would make OPEC subject to antitrust laws by removing a state immunity shield created by judicial precedent.



                        However, a weekend tweet shocked the oil society.



                        Mr. Trump asked Saudi Arabia to increase the amount of oil it produces. And according to him, the Saudi King Salman agreed. However, Saudi media hasn’t confirmed a willingness of Saudi to produce more. Oil reacted to this news. The greater production will lead to lower prices. As a result, both oil benchmarks reacted negatively.

                        On Friday, Brent managed to climb to $79.70. But Monday trading appeared to be weak. Brent is trading near $78.50. No important data will be released today, as a result, there are risks of the fall to the support at $77.55. If there is some positive news for the oil market, Brent will be able to rise to $79.85.



                        WTI is weaker than it was on Friday as well. WTI is trading near $73.85. Positive news will pull the benchmark up. The resistance is at $76.60. Otherwise, it will turn around to the support at $72.15.



                        That’s all for today! Follow market news with FBS!

                        Comment


                        • #27
                          Daily News: markets are stable

                          04.07.2018

                          As no important economic data have been publishing for 3 days, the US dollar index has weakened. The psychological level at $95 is too strong, to break above it. As a result, the index needs an additional support. Up to now, it has been trading near $94.50. The support lies at $94.20. Only significant news will be able to support the index, so it will be able to move to $95 again.



                          The euro needs an additional support. EUR/USD tested the resistance at 1.1665 but could stick above it and turned around. Up to now, the pair has tested the support at 1.1645 (the pivot point). No important economic data will be released today. As a result, risks of the further fall exist. The support lies at 1.1565.

                          The EU is considering talks on cutting car tariffs between the world’s big car exporters to prevent an all-out trade war with the US. The European Commission is going to make a deal with such big exporters as the US, South Korea, and Japan. Under the deal, countries will reduce tariffs to agreed levels for a set of products.

                          Let’s see whether the EU will put its idea into the practice in the near future. It’s anticipated to have a positive impact on the euro.



                          The pound managed to strengthen because of positive economic data. A services PMI figure was greater than the forecast one. As a result, GBP/USD broke the resistance at 1.3180 (the pivot point). The next resistance is at 1.3280. If the sentiment of buyers changes, the pair will appear below 1.3180 again.



                          The Australian data were mixed today. A retail sales figure was greater than anticipated. At the same time, trade balance data appeared to be weaker than the forecast. However, the Australian dollar managed to strengthen and test above the trendline. Up to now, AUD/USD has been moving up. The resistance lies at 0.7445. However, as no more important data will be released today, there is a possibility of the fall to 0.7320. Especially, if the USD strengthens.



                          Tomorrow crude oil inventories data will be released. According to the private survey, the number of inventories will decline more than expected.

                          Up to now, bulls have been trying to control Brent trading. The trading isn’t extensive. So the oil benchmark is anticipated to trade within $77.55-$78.20.



                          WTI is weaker today. The oil benchmark is moving down. The support is at $73.30. If the benchmark is able to recover, the resistance will lie at $75.20.



                          Tomorrow, traders should look at oil inventories data at 18:00 MT time. If there is a greater decline than anticipated, both oil benchmarks will rise.

                          That’s all for today! Follow market news with FBS!

                          Comment


                          • #28
                            #WeeklyCryptoNews

                            06.07.2018

                            The Bank of Finland released a paper “The Great Illusion of Cryptocurrencies” where they explain why the concept of a digital currency is a “fallacy.” The main idea is cryptocurrencies are not real currencies but instead “accounting systems for non-existent assets.”

                            Cryptocurrencies

                            Bitcoin has been trying to break the resistance at $6,500 during the whole week but failed. Up to now, the cryptocurrency has been trading near $6,350. The trading isn’t extensive. If no positive news encourages the digital currency, it will fall further. The support is at $6,200 (50-hour and 100-hour MA). If Bitcoin finds support, it will return to $6,500 (200-hour MA).



                            Venezuela will build houses for homeless people financing it with the national cryptocurrency El Petro. The government will invest 909K Petro.
                            Ripple is sued again. The company is accused of violating the law in the sphere of securities. According to the complainant, the company increases the price purposely. It’s worth remembering that the company was issued for the first time in May this year.
                            During the first six months of 2018, swindlers laundered money in the amount of $761 million with cryptocurrencies through illegal activities. To compare, during the whole 2017, swindlers laundered just $266 million.

                            Regulation

                            Securities and Exchange Commission of Thailand imposed restrictions for ICO projects. Before launching the ICO, the company will have to get an approval of 2 authorities. Moreover, companies can raise investments only in Thai baht or in the cryptocurrencies that were approved before. They are Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, and Stellar.
                            The Parliament of Malta passed bills on cryptocurrencies. Malta is the first country in the world that provides legal certainty in this field.
                            The largest US cryptocurrency company Coinbase accepts investments from institutional investors from the USA and the EU.

                            Cryptocurrency exchanges

                            Bittrex platform and invest.com trading company will launch a new cryptocurrency exchange for residents of the Eurozone. Users will be able to trade about 200 digital tokens. The new platform will support a blockchain expansion.
                            Huobi Pro cryptocurrency exchange will open a new trading platform where users will be able to trade 10 cryptocurrencies in a pair with the Australian dollar.

                            Blockchain

                            A new idea of the British Parliament. They ask the government of the UK to use blockchain in the state sector wider and create a new position of the Head of the blockchain.
                            Microsoft Taiwan announced a cooperation with Chinese companies Digital China и Hot Cool for a blockchain project. Companies will implement the technology to financial, entertainment and electronic commerce sectors.
                            An experiment on a blockchain poll was successfully conducted in the Switzerland city, Zug. Moreover, a representative of the government of Zug said that cryptocurrency companies will get a full access to bank services.

                            Just for fun. According to talks, Satoshi Nakamoto will write a book where he will answer all rousing questions.



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                            Ethereum $457.70

                            Litecoin $81.510

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                            • #29
                              China's FX reserves report surprise revenue

                              More at: https://fbs.com/analytics/news/china...lyticsFxManage

                              09.07.2018

                              In June, China's FX reserves suddenly rallied, underpinned by a soar in the value of its American Treasury holdings in rather a volatile month for China’s markets that were affected by worries about a China-US trade conflict.

                              In June, reserves tacked on $1.51 billion hitting $3.112 trillion in contrast with May’s sink of $14.23 billion, as major bank data revealed on Monday. Financial analysts surveyed by Reuters had hoped for a decline in China’s FX reserves by $10.6 billion to about $3.10 trillion.

                              As China's State Administration of Foreign Exchange disclosed, the small leap in reserves could be explained by asset price changes, although it didn’t come up with details.

                              Market experts pointed to the performance of American bonds in June. By the way, these bonds are supposed to make up a considerable portion of China's reserves.

                              Worries as for a global trade conflict turned out to be among the reasons in June, which powered investment flows into safe haven assets, including American government bonds.

                              China appears to be the largest holder of American government debt. As a matter of fact, in April, its holdings headed south to $1.182 trillion from May’s outcome of $1.188 trillion, as data from the US Treasury Department disclosed. China also injects its reserves in other American instruments and also sovereign debt of other countries.

                              Simultaneously, in June, the USD index edged up a bit, soaring by 0.7% in contrast with a steeper revenue of 2.3% in May. That’s what Thomson Reuters data uncovered.

                              In June, the total impact of a soaring evergreen buck on foreign exchange reserves didn’t appear to be as big as in May.

                              China's currency as well as equity markets had found themselves on edge ahead of July 6, exactly when American duties on $34 billion worth of China’s products kicked in. The Chinese government has responded with duties on American goods of the same value.

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                              • #30
                                Big day for the Canadian dollar

                                10.07.2018

                                Every meeting of the central bank is vital for the currency. Central banks can give comments that will set the currency trend until the next meeting, i.e. for the next month. The Bank of Canada is no exception.

                                Its meeting will take place on July 11. The interest rate and the central bank’s statement will be released at 17:00 MT time. The BOC Governor will hold a press conference at 18:15 MT time.

                                This meeting will be very important because the Bank of Canada will have to decide whether to raise interest rates for the second time this year. On the one hand, the BOC prepared the market for a rate hike at its last meeting in June. On the other hand, since then Canadian economic indicators deteriorated. As a result, it will be a real dilemma for the central bank. In such situation of uncertainty, there’s a great potential for surprise and, consequently, for big swings in the CAD exchange rate.

                                • If the BOC raises the interest rate, the CAD will rise.

                                • If the BOC leaves the interest rate, the CAD will go down.



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