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  • #76
    Daily news: Crude oil prices keep rising

    Check the candlesticks: http://bit.ly/2Iasi6A

    24.09.2018

    The main focus for EUR/USD today will be on the ECB president Mario Draghi speech at 16:00 MT time. Moreover, Ifo business climate index for Germany will be released today. Most experts expect it to drop to 103.2 in September due to the decrease of PMI. The pair was trading in the red zone on Friday. If bears continue to attack, the support is at 1.1644. However, any positive news from the events mentioned above can change the situation to growth. In that case, watch the resistance at 1.1830.


    The latest US and Chinese tariffs on each other came into effect today at 07:01 MT time. AUD/USD and NZD/USD opened with a gap down, but kept being bullish. The next resistance for the aussie is at 0.7346. Otherwise, watch the support at 0.7184.



    As for NZD/USD, the resistance to follow is at 0.6720. If bears strike back, the support is at 0.6576.

    Countries rejected the claim of the US president Trump to reduce oil prices during the OPEC meeting on September 23. The rise of the prices for crude oil can be explained by the limited output after the US sanctions to Iran. Right now Brent is trading near its psychological level of $80.


    Comment


    • #77
      Asian equities struggle, as China-US trade conflict resumes

      25.09.2018

      On Tuesday, Asian equities struggled because another round of US-China levies and a leap in crude prices to four-year maximums drove fears about risks to global surge.

      Spreadbetters actually expected EU equities to start on the defensive, with the UK’s FTSE soaring by up to 0.1%, Germany's DAX standing still as well as France's CAC going down by 0.2%.

      Additionally, MSCI's index of Asia-Pacific equities slumped by 0.15%. However, Japan's Nikkei N225 managed to ascend by almost 0.2%.

      Besides this, the Shanghai Composite Index SSEC inched down by 0.7%. Australian equities slumped by 0.1%. As for Hong Kong markets, they were unavailable due to a holiday.

      On Monday, America and China dared to slap fresh levies on each other's goods and neither side doesn’t seem to be ready for a compromise, lifting the risk of a protracted conflict, which could potentially chill investment and also impact global trade.

      The Dow headed south by 0.7%, while the S&P 500 lost 0.35% overnight.

      On Tuesday, the key US bank is scheduled to start its two-day policy gathering.

      American stocks had made firm profits the previous week because market participants had hoped that China and America would find a way out of the trade issue.

      The common currency was intact hitting $1.1742.

      The common currency had ascended to a 3-1/2-month maximum of $1.1815 on Monday after ECB Governor Mario Draghi told that he observes a powerful pickup in euro zone inflation, underpinning moves toward unwinding an ECB asset-purchase program expected to stimulate the EU economy.

      Ahead of the Fed's highly anticipated rate lift, the evergreen buck rallied to a two-month maximum of 113.00 yen before slumping to 112.915.

      Versus a pack of its key rivals the USD index jumped by up to 0.15% being worth 94.329.

      Comment


      • #78
        Daily news: Fed's rate hike and Italian budget deficit

        Check the candlesticks: http://bit.ly/2OUxUVk

        27.09.2018

        The Federal Reserve (Fed) of the US increased the interest rates to 2.25%. It was an anticipated decision by analysts, although a reaction from the market had a mixed effect. The reason for this lies in the removal of the word “accommodative” from Federal Open Market Committee (FOMC) statement. The overall economic projections look hawkish. GDP is expected to reach 3.1% in 2018 (vs previously forecasted 2.8%), 2.5% in 2019 (vs 2.4%) and 2.0% in 2020 (vs 2.0%). The current dot plot of rate hike expectations by the Fed shows another possible rate hike in December, three more in 2019 and at least one in 2020.

        In other news for the USD, China is planning to cut import tariffs on several products on November 1. This decision may possibly extend on the imports from the US.
        Today is also full of events which can affect the USD at some point. The change in the value of core durable goods orders for August will be released around 15:30 MT time. It is forecasted that the index will increase by 0.4%. The change in the value of durable goods orders is forecasted to increase by 1.9% (vs previous -1.7%). Annualized GDP growth per quarter, in its turn, is expected to stay at the same level as in previous period at 4.2%. The end of the day is important as there is the Fed chairman Jerome Powell speech at 23:30 MT time.

        Right now the dollar behaves bullish, the USD index is trading near 94.00.

        The budget problem in Italy broadened its impact on the markets and especially on the EUR. The estimated Italian budget deficit for 2019 is around 2%, although the ruling parties expect it to reach 2.4%. Today’s meeting at 21:00 MT time will show the official data. The budget pre-meeting is announced to be at 12:30 MT time. There also have been rumors about the possible resign of the Italian finance minister Giovanni Tria. An anticipation of the outcome of this meeting, as well as the Fed interest rates hike, dropped EUR/USD to its last week lows. Right now the currency is moving downwards the 100-day MA at 1.1655. The support is at 1.1644.

        However, European Central bank (ECB) president Mario Draghi today’s speech (16:30 MT time) can affect the pair in a positive way, if his comments are hawkish. In this case, the resistance to keep an eye on is at 1.1830.EURUSDDaily.png

        Reserve bank of New Zealand (RBNZ) did not apply any changes concerning its official rate. It remains at 1.75% and stays at the same level in 2019 and 2020 according to the RBNZ governor speech. As a reaction to Fed and RBNZ decisions, NZD/USD has slipped today. Right now it is trading slightly above the 50-day MA at 0.6668. The support is at 0.6580. If some of the US indexes come out lower, than expected, it can change the situation to bullish. In that case, the resistance is at 0.6740.


        USD/CAD is rising after Canadian prime-minister Justin Trudeau comments about NAFTA deal. He told that any chance of additional tariffs from the US to Canada make a new NAFTA trilateral deal impossible. The pair has crossed the 50-day MA and the 100-day MA aiming towards the resistance at 1.31. Any positive comment from Trudeau today can bring bears to the market and make the USD/CAD move down to the support at 1.29.


        The British prime-minister Theresa May plans for no-deal Brexit were not supported by her cabinet. This resulted in the decrease of GBP/USD. The support is at 1.2988. If the situation changes, the resistance is at 1.3230.

        Comment


        • #79
          #WeeklyCryptoNews

          More at: http://bit.ly/2OiTLIH

          28.09.2018

          Tim Draper, billionaire, cryptoinvestor: "I think <cryptocurrencies> will have such a transformation effect on industries that we never even imagined would be imitating. The Internet went for industries that were $10-100 billion dollars markets, cryptocurrency will go for billions of dollars markets – this is finance, healthcare and insurance, banking and investment banking and governments."

          Bitcoin started bearish on Monday and the price dropped again to the last week levels at $6330. Positive news on Wednesday gave the digital currency a chance to recover. On Thursday it crossed the 100-day MA at $6676 aiming the resistance at $6812. The next resistance is at $7360. If situation on the market changes, the support is at $6194.



          Yet another attempt to control the wild west of digital money?

          On Tuesday representatives from the US Congress, equity markets (Fidelity, Andreessen Horowitz and Nasdaq) and crypto community (Ripple, Coinbase and Circle) discussed the regulations of cryptocurrencies.

          These discussions may, however, have positive effect: Google will allow an advertisement of cryptocurrencies for Japanese and the US exchange platforms, that is, for two key markets in October.

          The leading crypto trading platform Binance will increase the market supply of its own tokens from $112 to $144 million.

          Another one football club, Italian Juventus announced the release of its own cryptocurrency. Can’t wait for football fans to crash trading platforms.

          Blockchain payment platform for government department’s needs was launched in Dubai. The goal of this project is to make a transparent environment for the financial flows and to reduce time of processing payments. If only all countries followed Emirates’ approach!
          The US court defined crypto as a commodity during the proceedings against “My big coin pay inc.” scam project.

          Chinese search engine Baidu presented white paper of its own blockchain platform Super Chain which will help to optimize any industry from product quality controlling to tourism.

          Equities switch to blockchain: The Austrian government will release bonds with a total value of $1.35 billion using Ethereum technology on October 2.

          SWIFT has a new competitor now. Blockchain startup Veem attracted $25 million of investments with the main investor Goldman Sachs

          Japanese financial giant SBI Holdings started testing its own cryptocurrency S coin. They plan to use the crypto for mobile payments. And if you launched your own cryptocurrency, how would you name it?

          Sophos, cyber-protecting company, found viruses-miners in 25 applications on Google Play.

          So maybe the tetris game you downloaded yesterday helped someone to earn some BTCs

          Bitcoin $6,736.7 (+4.34%)

          DASH $192.83 (+4.19%)

          Ethereum $226.63 (+6.51%)

          Litecoin: $62.390 (+9.40%)


          Comment


          • #80
            UK pound rallies due to Irish border deal

            01.10.2018

            On Monday, the UK currency managed to rally following news that the United Kingdom is on the verge of compromising on the Irish border issue with the aim of moving forward with a Brexit deal.

            The currency pair GBP/USD tacked on by 0.28% ending up with 1.3066, which is not far from an earlier maximum of 1.3078.

            British Prime Minister Theresa May intends to make another Brexit deal with the European bloc, as Bloomberg informed. As a senior UK government official revealed to Bloomberg, Britain seeks ways to come to a compromise on the border issue.

            The compromise would be a last resort if a compromise isn’t reached and it would be conditional on Great Britain having complete access to the EU customs union. By the way, the European Union has already offered to permit Northern Ireland to trade with Ireland without full checks that May has rejected telling that it would heavily impact Great Britain.

            Besides this, the USD index, normally estimating the greenback’s purchasing potential against a number of its key counterparts declined by 0.05% hitting 94.75 because trade tensions weakened and market participants shifted to riskier assets.

            On Sunday, Canada and the United States managed to reach a trade deal on the North American Free Trade Agreement, several hours before the deadline.

            By the way, the deal acquired a new name - the United States-Mexico-Canada Agreement. The given pact will give America access to Canadian dairy market and will also cap Canada's car exports to America.

            As for the Canadian dollar, it hit a four-month maximum. The currency pair USD/CAD slumped by 0.76% being worth 1.2812.

            The common currency went down because investors were still cautious after Italy's government announced a budget deficit, which defied Brussels. Moreover, the European Commission is anticipated to reject Italy’s budget initiatives.

            The currency pair EUR/USD slumped by 0.02% trading at 1.1602.

            Comment


            • #81
              Daily news: Italian government to reduce the budget deficit

              Check the candles at: http://bit.ly/2DUkYNW

              03.10.2018

              During the meeting of the Italian Cabinet of ministers it was announced about the plan to reduce the budget deficit to 2% in 2021. In addition, the goals for GDP were set. The deficit of GDP was forecasted to be at 2.4% in 2019 and 2.2% in 2020. This made EUR/USD increase. At the moment, the pair is moving upwards to the resistance at 1.1610 (50-day MA). The next resistance is at 1.1661. In case of any negative news concerning the EUR, the price will go down to the support at 1.1507.


              The Italian prime minister called for another budget meeting at 14:00 MT time. We’ll keep you updated on the situation.

              The UK Prime Minister Theresa May is forced to set a time when she leaves her post according to the British articles. However, the British Cabinet office minister Lidington said it was not true. Moreover, he added that they are looking for more details for the decision on the Northern Irish Border.

              In other news for Great Britain, yesterday an opponent of May Boris Johnson unexpectedly supported her during the Conservative party conference. As a result, GBP/USD gained a little, bounced off the support at 1.2970 (50-day MA) up to the resistance at 1.3080. If there are any negative Brexit updates, the price will go back to the support. In addition, services PMI of the UK was released today. It came out a little bit lower, than in the forecasts (53.9 vs 54.0), but it did not have a major effect on the currency.


              Take a note that Theresa May will deliver her speech at 13:30 MT time. This speech may affect the British pound significantly.

              A very busy evening will be today for the USD: there will be speeches of the Federal open market committee members and the Chairman of Federal Reserve Jerome Powell. It’s expected that they would give some outlook on the future of monetary policy of the US. Moreover, non-manufacturing PMI will be released today. It’s expected to be lower, than in the previous month (58.5 vs 58.0).

              Right now the price of the USD index is trading in the red zone, testing the support at 94.90 (50-day MA). If the price continues to decline, the next support will be at 94.60 (200-day MA). Evening speeches can affect the USD index positively. In that case, the resistance is at 95.36.

              Reserve Bank of Australia (RBA) had a meeting yesterday. They mentioned that the key factors preventing the policy normalizations are slow wages growth, low inflation and falling house prices. Analysts expect the RBA will start increasing the interest rates if the inflation rises. Today AUD/USD has crossed the support at 0.7177 and is falling downwards to the next support at 0.7133. If the AUD is supported by positive data, the resistance is at 0.7246.

              Comment


              • #82
                Traders await NFP

                More at: http://bit.ly/2RpH91e

                04.10.2018

                US Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, will be released at 15:30 MT time on October 5.

                The indicator shows how many jobs were created in the United States during the last month. It’s released together with the unemployment rate and the average hourly earnings indicators. All 3 of these indicators have a great impact on the USD.

                The last time, on September 7, NFP came out at 201K (readings close to 200K are considered to be strong), and wage growth accelerated to 0.4% (this is the change in average earnings index). The slight disappointment with the unemployment rate didn’t spoil the picture. Traders bought the US currency on the news, and the USD rose versus all major currencies.

                • If the NFP indicator is bigger than expected, the USD will go up.

                • If the NFP indicator is smaller than expected, the USD will go down.

                Check the economic calendar

                Comment


                • #83
                  #WeeklyCryptoNews

                  Check more: http://bit.ly/2RqwDXA

                  05.10.2018

                  Christopher Giancarlo, chairman of the Commodity futures trading commission (CFTC): “I personally think that cryptocurrencies are here to stay. I think there is a future for them. I’m not sure they ever come to rival the dollar or other hard currencies, but there’s a whole section of the world that really is hungry for functioning currencies that they can’t find in their local currencies. There’s 140 countries in the world, every one of them has a currency. Probably two-thirds are not worth the polymer or the paper they’re written on, and those parts of the world rely on hard currencies. Bitcoin [or another] cryptocurrency may solve some of the problems.”

                  On Monday Bitcoin gained a little testing the resistance at $6610 (50-day MA). However, the price did not manage to hold this level on Tuesday and Wednesday and fell down to the support at $6350. Thursday was bullish for BTC/USD as it came back to the resistance at $6574. Up to now, BTC/USD is trading in the red zone. The support is at $6350. In case of positive news, the resistance is at $6574. The next resistance is at $6610.



                  More opportunities: Large American broker TD Ameritrade is planning to start trading of crypto futures using the ErisX platform.

                  Wall Street Journal keeps bringing “sensations”. Journalist from Wall Street Journal launched the WSJ Coin token to research cryptocurrencies. However, the editorial stuff changed its mind and closed this project.

                  Crypto trading platform Poloniex will deprive users from the US of marginal trading to please the regulators. This is what happens to cryptoplatform when it’s bought by Goldman Sachs owned company

                  Economic giants are giants everywhere: Analysts from Bank of America forecasted the blockchain technologies market to reach 7 billion dollars. Amazon, Microsoft and Oracle are expected to earn the most part of it.

                  Research from Bloomberg: Institutional investors prefer using over-the-counter trading platforms and their presence on cryptomarket is more significant, than it seems.

                  British startup London Block Exchange will launch a stable coin connected to the course of the British pound. It seems like every company is going to have its own digital currency soon.

                  Experts from ICO rating analyzed the most successful crypto trading platforms and made a conclusion that 54% of them have a problem with crypto protection.



                  Bitcoin $6,574.0 (-0.64%)

                  DASH $180.62 (-0.76%)

                  Ethereum $221.25 (+6.51%)

                  Litecoin: $57.520 (-1.35%)

                  Comment


                  • #84
                    5 important things this week will bring us!

                    More at: http://bit.ly/2QAKTfg

                    08.10.2018

                    Australian NAB business confidence level (Tue, 3:30 MT time) - The digits for the previous period have been the lowest since the beginning of the year. It is connected with trade wars between the US and China and falling prices on the housing market. Will this month’s data outperform the previous one?
                    The August GDP and manufacturing production level for Great Britain (Wed, 11:30 MT time) – The GDP is expected to increase by 0.1% after reaching 0.3% in July. At the same time manufacturing production is forecast to expand by 0.1%. Remember that if the actual numbers are higher than the forecasts, the GBP will grow.
                    The US producer price index (PPI) (Wed, 15:30 MT time) - economists expect the indicator to increase by 0.2% in September.
                    The US consumer price index (CPI) and core CPI (Thu, 15:30 MT time) – CPI as well as core CPI will grow by 0.2% in September according to experts.
                    The US crude oil inventories (Thu, 18:00 MT time) – The change in the number of oil barrels have an effect on the prices of Brent and WTI. It affects the Canadian dollar too. Do not forget to follow USD/CAD!

                    Hot topics:

                    Further trade tensions between China and the United States are coming. Right now the USA is seeking the way to prevent Japan, the UK and the EU from making separate trade agreements in order to isolate “non-market” China.
                    Italian crisis does not mean Italy is going to leave the EU any time soon.
                    More details on Brexit are anticipated as the Brexit summit is planned on October 17.



                    Comment


                    • #85
                      American equities decline on China surge worries and high yields

                      08.10.2018

                      On Monday, US equities decreased for a third day in a row, generally mirroring global equities against the backdrop of soaring unease as to effects of the China-US trade conflict on global surge and with Treasury gains at multi-year maximums.

                      The Chinese government announced an abrupt cut in the level of cash, which financial institutions need to hold as reserves. The given move is expected to lower financing costs and boost surge in the face of the fierce trade clash between the two leading economies. Chinese shares dived and put pressure on global markets too.

                      There’re also worries as to China’s economy as well as the impact of trade, as some financial analysts pointed out.

                      On Wall Street, worries of decelerating surge manifested in a sag in high-flying equities, which have provoked the market ascend.

                      The top losers were represented by technology equities that lost 1.97%. As a matter of fact, Apple headed south by 1.4%, Microsoft dived by 1.6%, while Nvidia lost 2.8%.

                      As for the communications services sector, it went down by 0.86%. Netflix slipped by 2.5%. Additionally, Facebook and Alphabet lost nearly 1.3% each.

                      Besides this, the trade-sensitive industrials declined by 0.6%. Boeing dipped by 1.9%.

                      The US Treasury told that it was concerned over China's currency depreciation and it was closely watching developments having to do with the Chinese Yuan.

                      While the American bond market was unavailable for the Columbus Day holiday, gains on the 10-year note at seven-year maximums kept market participants on edge.

                      The Dow Jones Industrial Average lost by 0.62% hitting 26,282.06. Moreover, the S&P 500 inched down by 0.65% reaching 2,866.74. As for the Nasdaq Composite, it dived by 1.43% showing 7,677.20.

                      The three defensive sectors turned out to be the only gainers amid the 11 key S&P sectors. Consumer staples and utilities rallied by 1.2%, while real estate companies added 1.53%.

                      Comment


                      • #86
                        EU watchdogs: there’s no need to worry about Italian banks

                        More at: http://bit.ly/2ILRQXX

                        09.10.2018

                        European banking watchdogs have ramped up their monitoring of liquidity of Italy’s financial institutions after an abrupt surge in Italy’s government bond gains. However, there’s no cause for worry, as a senior EU source disclosed on Tuesday.

                        According to the source, the monitoring was conducted more intensely than before because of recent market turmoil.

                        Eventually the checks covered customer deposits as well as the interbank market, which Italy’s financial institutions utilize to lend to each other without requesting collateral. As a result, the watchdogs didn’t find any sings of alarm.

                        Both the European Bank and the Bank of Italy refused to comment.

                        The ECB, in tandem with national watchdogs regularly closely watches lenders' liquidity conditions and also adjusts its monitoring, in particular its depth and frequency, during the periods of stress or big fluctuations.

                        Evidently, a budget standoff between Italy’s anti-establishment government and EU authorities on Tuesday backed Italy's benchmark 10-year debt costs, pushing it to 3.72%, which is the highest outcome since February 2014.

                        The previous month the ruling coalition set a deficit objective of about 2.4% of economic output for next year, thus tripling the previous cabinet’s objective for the heavily indebted country, unnerving traders and also provoking sharp criticism from the European Commission.

                        Italian financial institutions are quite vulnerable to sovereign debt issues due to the fact they hold approximately 375 billion euros of domestic bonds, which accounts for 10% of their assets.

                        The equities in the country's lenders have headed south abruptly for the last time and the cost of insuring key financial institutions’ debt against a potential default has tacked on.

                        However, the sufficient liquidity provided by the European Central Bank for the period of ultra-expansionary monetary policy is protecting the interbank market from any tensions, as some financial analysts pointed out.

                        Comment


                        • #87
                          American producer prices bounce off

                          More at: http://bit.ly/2pMvugr

                          10.10.2018

                          In September, American producer prices surged by approximately 0.2%, fitting hopes. Meanwhile, an update of wholesale inventory forecasts for August disclosed the greatest rally for five years, surpassing estimates.

                          A leap in services prices compensated a mild sag in prices for products, including a 3.5% dive in gasoline prices. As for final demand prices, they slumped by 0.1% in August. The producer price index rallied by 2.6% for the 12 months through September, which is a bit less than anticipated.

                          Gains on Treasury bonds headed north to session maximums, while the evergreen buck lost. As for American equities, they generally declined.

                          The previous month the key US bank had rates lifted for the third time in 2018. Moreover, the major bank intends to proceed with rate lifts in December.

                          Financial analysts interviewed by Reuters had predicted that the PPI jumped by 0.2% last month and rallied by 2.8% year-on-year.

                          The ascend in wholesale inventories turned out to be a bit higher than the expected 0.8% anticipated by market experts. Besides this, the component of inventories feeding into estimates of GDP surge rallied by 0.7%.

                          In September, the cost of services soared by 0.3%, reversing two losing months, and powered by a 1.8% ascend in transportation as well as warehousing services. Over 1/3 of the rally in services could be explained by a 5.5% soar in the index for airline passenger services.

                          The given index gauges changes in margins obtained by retailers and wholesalers. As a matter of fact, in August, services had headed south by 0.1%.

                          The moderate slump in products prices happened to be the first since May last year, led by a 0.8% sink in energy prices as well as a 0.6% dive in food. Without food and energy, products prices headed north by up to 0.2%.

                          Comment


                          • #88
                            #WeeklyCryptoNews

                            Check the graphs: http://bit.ly/2CFZ2ov

                            12.10.2018

                            Jeffrey Wernik, entrepreneur, crypto investor: “The question is, what for a typical middle-class person-how do they accumulate wealth? And I think their only answer is to put a certain percentage in crypto”

                            Bitcoin started bullish on Monday breaking the two-week resistance at $6610 and testing the pivot resistance at $6683. The crisis on the stock market when Nasdaq fell by more than 4%, S&P 500 and Dow Jones by more than 3% affected the price of the digital currency heavily. As cryptocurrencies are considered as high-risk commodities, they did not attract the investors due to the unstable market situation. On Thursday it tested its September lows at the support at $6190. For now, the digital currency is trying to recover testing the resistance at $6304. If it manages to close above this level, the next resistance is at $6437. Any negative activity on the digital currency market, as well as manipulations by Bitcoin whales, can make the currency weaker. In that case, the support is at $6190.

                            Regulations:

                            World trade organization sees global advantages in applying blockchain-technologies to financial and trade fields.
                            United Arab Emirates’ authorities compared ICO to the public offering of the common stock. They are also developing a new government cryptocurrency emCash in Dubai.
                            Financial regulator of Switzerland FINMA gave its first license for the regulation of crypto assets. Its owner is investment fund Crypto Fund.
                            Regulator of telecommunication industry of Great Britain Ofcom announced the start of the project of inserting Blockchain into phone communication system.
                            Harvard, Stanford and Massachusetts universities invest millions of dollars in cryptofunds. This is a good news for the legitimization of the sphere.

                            New releases:

                            South Korean popular messenger Kakao started testing its blockchain platform Klaytn.
                            Japanese IT giant GMO announced the release of GMO Japanese Yen in 2019. Token will be connected with Japanese currency. Finally, some diversity!

                            Key events to follow for the next week:

                            15 October - SolarTech Summit in Porto, Portugal

                            15 October - Mainnet coin, Metamorph trading platform launch.

                            16 October - FOTA platform launch.

                            17 October - Financial Times Digital Health Summit in New York, the USA

                            19 October - Start Engine Summit in Los Angeles, the USA



                            Bitcoin $6,321.1 (+0.31%)

                            DASH $162.10 (-1.45%)

                            Ethereum $197.49 (-1.82%)

                            Litecoin: $51.75 (+0.9%)

                            Comment


                            • #89
                              5 important things this week will bring us!

                              More at: http://bit.ly/2RQlNKL

                              15.10.2018

                              The US retail and core retail data (Mon 15:30 MT) - the September figures are expected to increase by 0.4% and by 0.3% correspondingly. The actual data for the last months came out lower than the expectations. Will it happen this month? Let's wait.
                              New Zealand quarter CPI (Tue, 12:45 MT) – the forecasts for this indicator of inflation are quite optimistic due to the higher oil prices. According to analysts, it increased to 1.7% in the 3rd quarter. If the actual data beat the expectations, the kiwi will increase. For now, the inflation remains below the Reserve bank of New Zealand's target of 2%, so there is no chance the bank will make a rate hike any time soon.
                              British CPI (Wed, 11:30 MT) – The level of annual UK consumer inflation is expected to reach 2.6%. If the actual figures are higher, the GBP can increase. However, the situation with Brexit plays a more important role for the British currency right now.
                              Federal Open Market Committee meeting minutes (Wed, 21:00 MT) – while the experts do not expect a new rate hike this month, there are projections of another rate hike in December 2018. During the meeting, they will tell about the reasons for the previous decision and we can anticipate clues on the future rate hike. Recent talks about the "neutral rate" and Trump’s criticism of the Fed's policy make this meeting even more important for the USD.
                              The Australian unemployment rate and employment change (Thu, 3:30 MT) – the level of employed persons is expected to increase by 15200 people in September. In its turn, the unemployment rate is forecast to stay at the last month level of 5.3%.


                              Hot topics:

                              The EU Brexit summit (Wed-Thu) – during the summit dinner the countries can reach a highly expected agreement. In addition, the EU negotiator Michel Barnier said the Brexit negotiations are in their final stages. Despite his words, the solution on the Irish border backstop is still unclear and its outcome can affect the GBP.

                              Saudi Arabia is planning to adjust countermeasures against the US sanctions, which include oil. According to the plan, they will hit the American economy more, than Saudi Arabia's.

                              In Germany, Angela Merkel's sister party has suffered huge losses during Bavaria's state elections.

                              Have a good week and successful trading!

                              Comment


                              • #90
                                News to trade on October 16

                                16.10.2018

                                The CPI of New Zealand was released during the Asian session. It increased by 0.9% (vs. expected 0.7%). The reason for it lies in rising petrol prices which reached the levels of June 2011. At the same time, Reserve bank of New Zealand presented its own measure of core CPI. It reached the same level as in the previous quarter at 1.7%.

                                Due to the positive data, the level NZD/USD rose above the resistance at 0.6550. On a daily chart, the pair is testing the resistance at 0.6596 (50-day MA). If the USD gains strength, the price can move below the support at 0.6550. In that case, the next support is at 0.6486.


                                The UK Prime Minister Theresa May met with the leader of the Irish leftist republican party Sinn Fein. They discussed the Irish border problem. There are no further details of the meeting, but this is an interesting fact ahead of tomorrow’s Brexit summit. In other news on Brexit, the German minister Roth said in his recent speech that they were getting the Brexit deal. Following the news, GBP/USD moved up towards the resistance at 1.3263.

                                In addition, Great Britain anticipates the average weekly earnings index in three months to August. It is expected to reach 2.6%. A higher-than-expected level can also support the GBP.

                                If there’s more news on Brexit uncertainties, the pair will move below the support at 1.3146 downwards to the next support at 1.31 (100-day MA).

                                During the Reserve Bank of Australia meeting minutes, it was announced that the next rate hike is not coming in the near-term period. However, it’s still on a high note. The key statements from the bank included worries about the trade war between China and the US, possible global growth, the fall of the home prices. There was nothing hawkish in the comments, so the market reacted insignificantly. On a daily chart, AUD/USD is trading in the red zone, moving down to the support at 0.7096. If the USD weakens today, the resistance for the pair is at 0.7152.


                                Italy approved its fiscal plan, which targets the budget deficit at 2.4% of the GDP. For now, the highest fear for the EU is that the real deficit could be higher than 2.4%. However, the EUR was supported by the positive news. For now, EUR/USD is testing the resistance at 1.1593 (50-day MA). The next resistance is at 1.1627 (100-day MA). If the German Zew surveys, scheduled today at 12:00 MT are lower than the forecast, it will create the bearish pressure to the pair. In that situation, the target support level is at 1.1533.

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