Announcement

Collapse
No announcement yet.

Daily News By Xtreamforex.com

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • What do you really think about something like that here - https://forexfraudbrokers.com/2018/0...reamforex-com/ maybe it's just some made up info, but it's really not that much at all. I would love to have it covered.

    Comment


    • Technical Overview of USD Dollar Index

      USD Dollar Index

      Here we see a very interesting scenario that

      1 - USD Index is in a range, the range continues buy Pound Swissie and Euro.
      All the above mentioned pairs share the same formations.
      2 - A Motherbar/Insidebar found @ D1 time frame.
      3 - Stalls @ the Year Resistance 1.
      4 - Already achieved the 200% Extensions.
      5 - Stalls @ Pivot Quarter 1 as a Support
      6 - The Motherbar/Insidebar @ the Pivot support and resistances
      7 - The most important reason for this range is the mixed data from USD. Like rate cuts and positive economic data.
      8 - The CPI data is expected today.
      Keep in mind that it’s correlated with PPI data.
      Detailed Historical data Analysis shows that the Moving average of Period 2 has a downwards slope in CPI and PPI.

      According to the Analysis, The Dollar Index is expected to find support at 96.433, and a fall through could take it to the next support level of 96.333. The pair is expected to find its first resistance at 96.683, and a rise through could take it to the next resistance level of 96.833.

      Comment


      • Technical Overview of USD/CNH Currency Pair

        USD CNH

        USD traded higher against CNH and closed at 6.9286

        G-20 Meeting Ahead on 28th June for US China Issues!
        4 Possible outcomes at the coming G20 meeting:
        (1) President Xi does not show at the G20 and the US imposes more tariffs - USDCNH likely breaks 7.00 fairly quickly.
        (2) Xi and Trump meet but talks do not go well and US threatens further tariffs - USDCNH likely breaks 7.00 but more gradually.
        (3) Status quo scenario: Xi and Trump meet, agree to disagree, tariffs go up as planned but USDCNH likely tests 7.00 later in July.
        (4) Max bull scenario: Xi and Trump meet, agree to re-start negotiations in coming weeks, risk bounces, USDCNH to 6.80-85.

        According to the Analysis, The USD/CNH is expected to find support at 6.92356, and a fall through could take it to the next support level of 6.91848. The pair is expected to find its first resistance at 6.93474, and a rise through could take it to the next resistance level of 6.94084.

        For Detailed analysis visit XtreamForex YouTube Channel.

        Comment


        • Technical Overview of AUD/USD, CHF/JPY, AUD/CAD and EUR/JPY Currency Pair

          AUD USD

          AUD traded higher against USD and closed at 0.6869.
          1 - 1 month long consolidation 0.6850-0.7000 threatens to be below because of the rate cut news.
          2 - RBA will be cutting rates to 0.75% till November.
          3 - On a daily chart we see a perfect resistance trend line indicating a downwards movement
          4 - On daily chart the 1Month long support level can be seen
          5 - The pair is below Yearly, Quarterly, Weekly and monthly pivots
          6 - We can expect a bearish sentiment in the AUD till November as we know there may be massive rate cuts (4) Max bull scenario: Xi and Trump meet, agree to re-start negotiations in coming weeks, risk bounces, USDCNH to 6.80-85.

          According to the Analysis, The AUD/USD is expected to find support at 0.68478, and a fall through could take it to the next support level of 0.68260. The pair is expected to find its first resistance at 0.69046, and a rise through could take it to the next resistance level of 0.69396.

          CHF JPY

          CHF traded lower against JPY and closed at 108.654.

          As we already see that market is in a risk aversion state. There is more room for USDJPY to do down. China and Russia are shaking hands against USD, This may strengthen the CHY and devaluate the USD.
          Keep in mind that now a day’s its only fundamentals that are playing in the market. In my opinion The strong currencies are JPY CHF CNY and Weak are USD GBP AUD.

          According to the Analysis, The CHF/JPY is expected to find support at 108.384, and a fall through could take it to the next support level of 108.113. The pair is expected to find its first resistance at 109.020, and a rise through could take it to the next resistance level of 109.385.

          AUD CAD

          AUD traded higher against CAD and closed at 0.9212.
          Fundamentally we know that AUD is weaker due to 2 rate cuts expected in 2019 and low to 0.75% basis points. Hence we can compare it with the strength of CAD.
          Here we see that the pair has found a support at the low from 01.03.2019.
          As this is a very major support and has been the low of last year, we may expect a short term bounce but the Fundamental bias is towards South.

          According to the Analysis, The CHF/JPY is expected to find support at 0.91924, and a fall through could take it to the next support level of 0.91728. The pair is expected to find its first resistance at 0.92257, and a rise through could take it to the next resistance level of 0.92394.

          EUR JPY

          EUR traded higher against JPY and closed at 121.677.
          Risk Aversion is an open secret now. We all know that the investors are after the strength of CHF and JPY. Here in the EURJPY we see 5 bullish candles moving ahead to the 5-day ADR
          Monthly Pivot
          Weekly Pivot
          So, we can expect a breakout from the ADR high or
          A low volume test candle signaling a bearish continuation.

          According to the Analysis, The EUR/JPY is expected to find support at 121.422, and a fall through could take it to the next support level of 121.168. The pair is expected to find its first resistance at 122.095, and a rise through could take it to the next resistance level of 122.514.

          Fundamentals of the Day

          BCC announced that it may see a slowed growth in the British Chamber of Commerce.
          As this announcement may have a negative impact on the GBP, Its advised to stay short on GBP.

          The People’s Bank of China (PBOC), China's central bank, announced on Monday that the second phase of a cut in the reserve requirement ratio. This process is adapted by economies who want to stabilize their economy. Keep in mind that there is G-20 Meeting ahead, that’s why China is Stabilizing itself to face any sort of bad effect of the meeting.

          For Detailed analysis visit XtreamForex YouTube Channel.

          Comment


          • Technical Overview of EUR/USD, USD/JPY and EUR/JPY Currency Pair

            EUR USD

            EUR traded higher against USD and closed at 1.1193.
            Long-term trend: Down
            EUR USD still moving within 8 years of falling trend channel.

            Short-term trend: Neutral
            Breaking below solid support around 1.1220.

            According to the Analysis, pair is expected to find support at 1.11686, and a fall through could take it to the next support level of 1.11442. The pair is expected to find its first resistance at 1.12301, and a rise through could take it to the next resistance level of 1.12672.

            USD JPY

            USD traded lower against JPY and closed at 108.442.
            Long-term trend: Down
            On the verge of completing a large triangle on the downside.

            Short-term trend: Down
            Developing a bear flag formation, indicating a continuation of the downtrend.

            According to the Analysis, pair is expected to find support at 108.108, and a fall through could take it to the next support level of 107.774. The pair is expected to find its first resistance at 108.726, and a rise through could take it to the next resistance level of 109.010.

            EUR JPY

            EUR traded lower against JPY and closed at 121.376.
            Long-term trend: Down
            A test of the solid horizontal support around 111.95 should be expected.

            Short-term trend: Down
            The picture is weakening, waiting for a break below the crucial support around 120.90.

            According to the Analysis, pair is expected to find support at 121.003, and a fall through could take it to the next support level of 120.629. The pair is expected to find its first resistance at 121.808, and a rise through could take it to the next resistance level of 122.239.

            Key Fundamentals of the Day

            G10: Markets Consolidate Ahead Of FOMC; AUD/NZD: Downside
            • FX market is likely to consolidate ahead of the Fed
            • While flagging a scope for further downside in AUD/NZD
            • In anticipation of another RBA cut.
            • At the central bank coming policy meeting.

            Trump comments on Trade War
            • The US President Donald Trump announced on Tuesday that the US and Chinese trade talk teams will restart talks ahead of the G20 summit.
            • This could result in a down fall in the USD/CNH Pair

            Facebook goes into cryptocurrencies
            • On Tuesday, it was announced by Facebook that the company plans to launch its Cryptocurrency, which is named Libra.
            • Moreover, the social network will offer crypto wallets named Calibra.

            For Detailed analysis visit XtreamForex YouTube Channel.

            Comment


            • Technical Overview of GBP/USD, and AUD/USD Currency Pair

              GBP USD

              GBP traded lower against USD and closed at 1.2697.
              Sterling slips after BoE holds rates but cuts growth forecast

              The BoE message was far less dovish than the U.S. Federal Reserve and European Central Bank, which this week opened the door to rate cuts.
              Sterling has rallied in recent days, pulling away from five-month lows, as investors dumped the dollar following the Fed’s dovish signaling.

              According to the Analysis, pair is expected to find support at 1.26437 and a fall through could take it to the next support level of 1.25904. The pair is expected to find its first resistance at 1.27385, and a rise through could take it to the next resistance level of 1.27800.

              AUD USD

              AUD traded higher against USD and closed at 0.6919.
              Black Rock Inc. is shorting the Australian dollar.
              The currency has been out of favor this year as the RBA turned dovish and cut rates for the first time in three years.
              The central bank trimmed its cash rate by 25 basis points to 1.25% on June 4, with Governor Philip saying the decision would help reduce unemployment and boost inflation.

              According to the Analysis, pair is expected to find support at 0.68858, and a fall through could take it to the next support level of 0.68523. The pair is expected to find its first resistance at 0.69441, and a rise through could take it to the next resistance level of 0.69689.

              Key Fundamentals of the Day

              FED has a next move, Opportunity to Sell
              Fed easing will eventually pull USD lower.
              It’s believed that any additional USD firmness over the next 1-2 weeks will set up for a sell opportunity.
              Suicide Rates among Young Americans Accelerates To Highest Level Since 2000.

              For Detailed analysis visit XtreamForex YouTube Channel.

              Comment


              • Technical Overview of USD/JPY, EUR/USD and AUD/USD Currency Pair

                USD JPY

                USD traded lower against JPY and closed at 107.29.
                The Citigroup analysts make a case for buying the dips in the USD/JPY pair below 107.50
                support area, as they believe the downside doesn’t look more compelling.
                USD: Weakness Likely To Extend As Key Technical Support Levels Are Broken.
                The dollar index finally broke below its 200-day moving average on Friday at 96.600 which opens the door to further weakness in the near-term.
                Flags a scope for further weakness in the future.

                According to the Analysis, pair is expected to find support at 107.179 and a fall through could take it to the next support level of 107.068. The pair is expected to find its first resistance at 107.468, and a rise through could take it to the next resistance level of 107.646.

                EUR USD

                EUR traded higher against USD and closed at 1.1397.
                Longs Super-Trade In The Month Heading To Fed's Cut.
                EUR/USD position as the second-best G-10 FX trade in months leading up to the first Fed cut, only outpaced by a long EUR/NZD position.
                ECB easing is also a done deal now, as Draghi hinted of easing unless the outlook improves (more QE and a rate cut).
                The outlook will not improve (before 2020), but the ECB usually delivers when projections are updated – i.e. in September (they will ease with a time-lag after the Fed.

                According to the Analysis, pair is expected to find support at 1.13742, and a fall through could take it to the next support level of 1.13511. The pair is expected to find its first resistance at 1.14120, and a rise through could take it to the next resistance level of 1.14267.

                AUD USD

                AUD traded lower against USD and closed at 0.6958.
                RBA Maintains Call For Infrastructure Investment.
                Rate cuts at low yield levels may not be enough to boost economy.
                Quantitative Easing may be done.

                According to the Analysis, pair is expected to find support at 0.69354, and a fall through could take it to the next support level of 0.69122. The pair is expected to find its first resistance at 0.69750, and a rise through could take it to the next resistance level of 0.69914.

                Key Fundamentals of the Day

                Gold- Fed is seen cutting rates by a 50bp in July
                Analysts at Morgan Stanley raises their gold price forecast for the second half of this year and the year after, in the face of the dovish Fed rate expectations, broad dollar weakness, global economic slowdown and falling US rates.
                Real yields close to zero would reduce demand for yielding USD assets, could increase the demand for gold.
                The negative territory could generate considerable further upside for gold's price.
                Gold price forecast to average USD 1,435 in H2 of this year and USD 1,338 in 2020.

                For Detailed analysis visit XtreamForex YouTube Channel.

                Comment


                • Technical Overview of EUR/USD and GBP/USD Currency Pair

                  EUR USD

                  EUR traded lower against USD and closed at 1.1365.
                  EUR/USD position as the second-best G-10 FX trade in months leading up to the first Fed cut, only outpaced by a long EUR/NZD position.
                  ECB easing is also a done deal now, as Draghi hinted of easing unless the outlook improves (more QE and a rate cut).
                  The outlook will not improve (before 2020), but the ECB usually delivers when projections are updated – i.e. in September (they will ease with a time-lag after the Fed.
                  Break of ADR Highs to further extensions or Break of Support to form a Double top.

                  According to the Analysis, pair is expected to find support at 1.13353 and a fall through could take it to the next support level of 1.13059. The pair is expected to find its first resistance at 1.14030, and a rise through could take it to the next resistance level of 1.14413.

                  GBP USD

                  GBP traded lower against USD and closed at 1.2675.
                  Pair @ support from previous 3 week Pivot.
                  Pair @ support from Pivot support candle.
                  Preparing for Pre G-20 Meeting.
                  Resistance @ pivot resistance candle.
                  Resistance @ Monthly Pivot.

                  According to the Analysis, pair is expected to find support at 1.26366, and a fall through could take it to the next support level of 1.25980. The pair is expected to find its first resistance at 1.27488, and a rise through could take it to the next resistance level of 1.28224.

                  Key Fundamentals of the Day
                  • The dollar fell against most major currencies on Tuesday, hitting a three-month low against the euro.
                  • As expectations of multiple decreases of U.S. interest rates by the Federal Reserve have spurred selling of the U.S. currency.
                  • Growing tensions between Iran and the United States stoked fresh safe-haven buying of the yen.
                  • President Donald Trump believes the U.S. dollar is too strong, and the euro is.
                  For Detailed analysis visit XtreamForex YouTube Channel.

                  Comment


                  • Technical Overview of EUR/CHF, EUR/JPY and AUD/JPY Currency Pair

                    EUR CHF

                    EUR traded higher against CHF and closed at 1.1116.
                    Long-term trend: Neutral. The weekly close below support around 1.1130 suggests further selling pressure.
                    Short-term trend: Down. The consolidation below the lower end trading of the trading range around 1.1150 is bearish.

                    According to the Analysis, pair is expected to find support at 1.10864 and a fall through could take it to the next support level of 1.10571. The pair is expected to find its first resistance at 1.11345, and a rise through could take it to the next resistance level of 1.11533.

                    EUR JPY

                    EUR traded higher against JPY and closed at 122.527.
                    Long-term trend: Down. A test of the solid horizontal support around 111.95 should be expected.
                    Short-term trend: Neutral. Higher prices are still possible, although the upside potential remains limited.

                    According to the Analysis, pair is expected to find support at 121.983, and a fall through could take it to the next support level of 121.440. The pair is expected to find its first resistance at 122.848, and a rise through could take it to the next resistance level of 123.170.

                    AUD JPY

                    AUD traded higher against JPY and closed at 75.271.
                    Long-term trend: Down. Long-term solid horizontal support comes in around 72.15.
                    Short-term trend: Neutral: Bottoming scenario confirmed by breaking upper end falling trend channel
                    around 74.70.

                    According to the Analysis, pair is expected to find support at 74.745, and a fall through could take it to the next support level of 74.220. The pair is expected to find its first resistance at 75.572, and a rise through could take it to the next resistance level of 75.874.

                    For Detailed analysis visit XtreamForex YouTube Channel.

                    Comment


                    • Technical Overview of USD/CNH, USD/CHF and USD/CAD Currency Pair

                      USD CNH
                      USD traded higher against CNH and closed at 6.8679.
                      • G20 Summit is over now, it’s expected that the weakness of the USD may continue.
                      • On the other hand we may see strength in the safe heaven and CNH.
                      • President Donald Trump wants a weaker dollar to help boost exports, and is counting on the Federal Reserve to help make that happen. But the central bank’s chairman, Jerome Powell, has made clear it’s not his job.
                      According to the Analysis, pair is expected to find support at 6.85980 and a fall through could take it to the next support level of 6.85170. The pair is expected to find its first resistance at 6.87757, and a rise through could take it to the next resistance level of 6.88724.

                      USD CHF
                      USD traded higher against CHF and closed at 0.9764.
                      According to the Analysis, pair is expected to find support at 0.97432, and a fall through could take it to the next support level of 0.97225. The pair is expected to find its first resistance at 0.97793, and a rise through could take it to the next resistance level of 0.97947.

                      USD CAD
                      USD traded higher against CAD and closed at 1.3099.
                      According to the Analysis, pair is expected to find support at 1.30715, and a fall through could take it to the next support level of 1.30440. The pair is expected to find its first resistance at 1.31142, and a rise through could take it to the next resistance level of 1.31294.

                      Major Economic Events of the Day
                      • The Caixin China Manufacturing PMI, released by Market, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.
                      • The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).
                      For Detailed analysis visit XtreamForex YouTube Channel.

                      Comment


                      • Technical Overview of AUD/USD Currency Pair

                        AUD USD
                        AUD traded higher against USD and closed at 0.6963.
                        The Reserve Bank of Australia (RBA), as was widely expected, decided to cut interest rates for the second month in a row to a historic low level of 1.0% at its July monetary policy meeting held this Tuesday.
                        The decision was on expected lines and hence, did little to prompt any fresh selling around the Australian Dollar, with the AUD/USD pair holding steady above mid-0.6900s.

                        According to the Analysis, pair is expected to find support at 0.69344 and a fall through could take it to the next support level of 0.69057. The pair is expected to find its first resistance at 0.70132, and a rise through could take it to the next resistance level of 0.70633.

                        Major Economic Events of the Day
                        • Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.
                        • Philip Lowe replaced Glenn Stevens as governor of Australia’s central bank. Lowe was the Deputy Governor of the Reserve Bank of Australia, a position he held since February 2012.
                        For Detailed analysis visit XtreamForex YouTube Channel.

                        Comment


                        • Technical Overview of GBP/USD and EUR/JPY Currency Pair

                          GBP USD

                          GBP traded higher against USD and closed at 1.2527.
                          GBP/USD - Charts Suggest the 2019 Low Is Vulnerable.
                          D1 and H4 200 EMA Heads to south.
                          Broke D1 Ib towards the down side.
                          Broke the Quarter Support and Month Support.
                          Series of Lower Lows and Lower Highs.

                          According to the Analysis, pair is expected to find support at 1.24759 and a fall through could take it to the next support level of 1.24252. The pair is expected to find its first resistance at 1.25822, and a rise through could take it to the next resistance level of 1.26378.

                          EUR JPY

                          EUR traded lower against JPY and closed at 121.779.
                          EUR/JPY: Scope for Retesting 120.82.
                          D1 and H4 200 EMA Heads to south.
                          Broke D1 Ib towards the down side.
                          It's in range but projects towards the down side.

                          According to the Analysis, pair is expected to find support at 121.596 and a fall through could take it to the next support level of 121.414. The pair is expected to find its first resistance at 121.943, and a rise through could take it to the next resistance level of 122.108.

                          Major Economic Events of the Day
                          Bank of Japan Governor Haruhiko Kuroda will hold a press conference about monetary policies in Tokyo. Mr Kuroda exercises general control over the Bank's business. He is in charge of the Internal Auditors' Office.

                          For Detailed analysis visit XtreamForex YouTube Channel.

                          Comment


                          • Technical Overview of EUR/USD and AUD/USD and GBP/NZD Currency Pair

                            EUR USD
                            EUR traded higher against USD and closed at 1.1208.
                            EUR is expected to trade sideways, likely within a 1.1190/1.1230 range.
                            According to the Analysis, pair is expected to find support at 1.11943 and a fall through could take it to the next support level of 1.11810. The pair is expected to find its first resistance at 1.12198, and a rise through could take it to the next resistance level of 1.12320.

                            AUD USD
                            AUD traded lower against USD and closed at 0.6926.
                            AUD/USD - Edges Lower After Weak Consumer Confidence
                            Bears Seem Confident Ahead Of Fed

                            According to the Analysis, pair is expected to find support at 0.69059 and a fall through could take it to the next support level of 0.68858. The pair is expected to find its first resistance at 0.69604, and a rise through could take it to the next resistance level of 0.69948.

                            GBP NZD
                            GBP traded lower against NZD and closed at 1.8856.
                            Overnight NZD was struck by a massive selling order. It was almost 34 pips in Asian session.
                            UK Manufacturing Production today
                            We can see that the expected 2.1 is way lot better than previous –3.9
                            if we have a positive tone from GBP then the Technical and fundamental bounce from the lows will be supported.

                            According to the Analysis, pair is expected to find support at 1.88115 and a fall through could take it to the next support level of 1.87673. The pair is expected to find its first resistance at 1.88989, and a rise through could take it to the next resistance level of 1.89421.

                            Major Economic Events of the Day
                            CAD: BOC Tone On Wed Likely A Bit More Optimistic Than Markets Assuming – CIBC
                            “While not a stunner for markets, the tone will tend to be a bit more optimistic than what markets are now assuming.”

                            The Consumer Price Index is released by the National Bureau of Statistics of China. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish) for the CNY.
                            Federal Reserve Chair Jerome Powell testifies before Congress, providing a broad overview of the economy and monetary policy. Powell's prepared remarks are published ahead of the appearance on Capitol Hill.

                            For Detailed analysis visit XtreamForex YouTube Channel.

                            Comment


                            • Technical Overview of USD/CAD and USD/JPY Currency Pair

                              USD CAD

                              USD traded lower against CAD and closed at 1.3069.
                              Trades near the yearly-low (1.3037) even though the Bank of Canada (BoC) endorses a wait-and-see approach for monetary policy, and recent price action keeps the downside targets on the radar as the exchange rate fails to break out of the monthly opening range.

                              According to the Analysis, pair is expected to find support at 1.30436 and a fall through could take it to the next support level of 1.30179. The pair is expected to find its first resistance at 1.30931, and a rise through could take it to the next resistance level of 1.31169.

                              USD JPY

                              USD traded lower against JPY and closed at 108.487.
                              USD/JPY to find support from yields may face resistance above 109.00.
                              Its approaching resistance level and fundamentally the weakness of USD may drive the pair lower.

                              According to the Analysis, pair is expected to find support at 108.053 and a fall through could take it to the next support level of 107.618. The pair is expected to find its first resistance at 108.726, and a rise through could take it to the next resistance level of 108.964.

                              For Detailed analysis visit XtreamForex YouTube Channel.

                              Comment


                              • Technical Overview of AUD/USD and USD/JPY Currency Pair

                                AUD USD

                                AUD traded higher against USD and closed at 0.7022.
                                Maintain a bullish data; Staying Long is more favorable as compared to short. Daily chart has a break above close above 10 EMA. Targets may be 0.73, Daily High and Weekly High has also been breached over night. Looking for a break meaningfully above resistance earlier this week at 0.7036 and remain long AUDUSD targeting 0.7300.

                                According to the Analysis, pair is expected to find support at 0.69868 and a fall through could take it to the next support level of 0.69515. The pair is expected to find its first resistance at 0.70409, and a rise through could take it to the next resistance level of 0.70597.

                                USD JPY

                                USD traded higher against JPY and closed at 107.885.
                                3 - Bearish Days for the Dollar, Expectations are the Rate cut by end of July.
                                Bearish sentiment leads the currency against the basket of CHF and JPY.
                                Selling rallies may be a positive approach in trading the safe-heaven. The basket trades below Quarterly and Yearly Pivots.

                                According to the Analysis, pair is expected to find support at 107.589 and a fall through could take it to the next support level of 107.292. The pair is expected to find its first resistance at 108.394, and a rise through could take it to the next resistance level of 108.902.

                                Major Events of the Day

                                NZD: Consumer Price Index (YoY) (Q2)
                                Consumer Price Index released by the Statistics New Zealand is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services . The purchase power of NZD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative.

                                CNY: Gross Domestic Product (QoQ) (Q2)
                                The Gross Domestic Product (GDP) released by the National Bureau of Statistics of China studies the gross value of all goods and services produced by China. The indicator presents the pace at which the Chinese economy is growing or decreasing. As the Chinese economy has influence on the global economy, this economic event would have an impact on the Forex market. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish).

                                For Detailed analysis visit XtreamForex YouTube Channel.

                                Comment

                                Working...
                                X