Hotforex.com - Market Analysis and News.

[HFblogNews]

Date : 6th August 2019.

MACRO EVENTS & NEWS OF 6th August 2019.



FX News Today

* Bond as well as stock markets were under pressure during the Asian session.

* Global equities in general, continued to get hammered by the escalation in trade tensions.

* Data was thin, but the disappointing ISM services report added marginally to the bearish tone in stocks.

* RBA left rates on hold amid a “reasonable” outlook for the global economy, but also highlighted downside risks from trade tensions.

* The US officially labelled China a “currency manipulator“.
The JPN225 are down 0.9%, the ASX slumped -2.4%, while the Hang Seng corrected -0.9%.

* With the US-Sino trade spat rapidly escalating investors are heading for cover amid fears that the U.S. will up the threatened additional tariffs to 25% from the 10% President Trump had mentioned so far.

* German manufacturing orders jumped 2.5% m/m in June, a much stronger than expected reading, that partly compensated for the -2.0% m/m decline in May.

* The front end WTI future is currently trading at $55.29 per barrel.

Charts of the Day



Technician’s Corner

* EURUSD printed 2-week highs of 1.1249, up from lows of 1.1170 yesterday. The latest trade was escalations between the US and China, have ramped up Fed easing speculation, with a September 25 bp rate cut fully priced into the market. This has given the Dollar a hard time of late, resulting in the DXY dropping from over 2-year highs last week, to 2-week lows on Monday. The Euro is currently over its 20-day moving average at 1.1185 for the first time in nearly a month, and now has sights set on the 50-day MA at 1.1235 and 200-day MA at 1.1295.

* USOIL is down near 6% versus last week’s peak. The ramping up of the U.S. China trade war overnight, as China devalued its Yuan, and halted purchases of US agricultural goods weighed on oil prices, with traders focused on prospects for lower global growth, and oil demand destruction. Last Thursday’s six-week low of $53.59 remains the next support level, while Resistance is at Friday’s high and 10-day EMA at 56.00 .

* USDCAD pulled back from overnight highs of 1.3220, falling to 1.3202. Oil prices remain a driver of USDCAD direction, while concerns over slowing global growth could keep crude prices under pressure, resulting in a higher USDCAD.

Main Macro Events Today

* JOLTS Job Openings (USD, GMT 14:00) – JOLTS define Job Openings as all positions that have not been filled on the last business day of the month. June’s JOLTS job openings is expected to fall slightly at 7.268M, following the 7.32M in May.

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 7th August 2019.

MACRO EVENTS & NEWS OF 7th August 2019.



FX News Today

* RBNZ surprises markets with hefty 50 bps cut; official rate now at 1.00%.

* India’s RBI cut rates by 35 bps – more than expected; repo rate at 5.4%.

* Decisive action from central banks in New Zealand and India also fueled fresh speculation of deep cuts from the likes of Fed and ECB.

* New Zealand’s 10-year rate led a broad slide in yields across Asia.
The RBNZ surprised markets with a hefty 50 bp cut that left the official cash rate at a record low of 1.00% and will spark fresh speculation of deep cuts world-wide.

* The NZD dropped sharply as a result and AUD was also dragged lower as the 10-year rate dropped -8.3 bp, with traders expecting the RBA to follow.

* Still, pressure eased somewhat in stock markets, after China took steps to steady the Yuan yesterday.

* JPN225 is down -0.27%.

* US futures are in the red after a positive close on Wall Street yesterday and the WTI future is trading at just USD 53.66 per barrel.

* In Europe, German production numbers at the start of the session underpinned easing hopes.

* German industrial production slumped -1.5% m/m in June, with the May reading revised down to just 0.1% m/m.

* The German curve has already settled below zero and pressure on Draghi to not just cut rates but restart asset purchases is mounting.

Charts of the Day



Technician’s Corner

* NZDUSD: The New Zealand Dollar over 2% in hitting its lowest level against the US Dollar since January 2016, at 0.6377, and trading at near seven-year lows in the case against the Yen. This followed a more aggressive than expected 50 bp rate cut by the RBNZ to an all-time low 1.00%, which was pinned on flagging growth conditions as a consequence of simmering trade tensions and a global economic slowdown.

* AUDUSD fell in sympathy, with the RBA, after cutting rates in June and July, having signalled yesterday that more rate cuts could be in the pipeline. The pair smashed through the early January flash-crash low on route to printing a 10-year nadir at 0.6677. AUDJPY also dove into 10-year low territory.

* USDJPY: The Yen lifted against the Dollar and Euro, though remained below highs seen earlier in the week. USDJPY posted a low at 105.93, extending the retreat from yesterday’s 107.09 high.

* EURUSD continued to orbit the 1.1200 level. Sterling came back under pressure after a positional-driven rally earlier in the week. Cable nudged back under 1.2150 after failing to sustain gains above 1.2200, while EURGBP lifted back above 0.9200, drawing back in on the 24-month high at 0.9249.

Main Macro Events Today

* Ivey PMI (CAD, GMT 14:00) – A survey of purchasing managers, the Index provides an overview of the state of business conditions in the country. Canada’s July Ivey PMI is expected to improve 2.6 points to 55.00 after the decline seen in June. The data is supportive of the steady policy story, as the economy returns to potential growth contrasts with an outlook “clouded by persistent trade tensions.”

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 8th August 2019.

MACRO EVENTS & NEWS OF 8th August 2019.



FX News Today

* Markets remained choppy Wednesday amid heightened fears over the bearish signals from the drop in rates.

* Better than expected China trade numbers, which showed a rebound in exports helped to underpin sentiment after a slightly higher than anticipated Yuan fixing.

* Fears about the impact of the escalating trade conflict eased somewhat, also helped by news that Japan will allow some exports of semiconductor manufacturing material to South Korea, which suggests easing tensions between the two countries.

* Wall Street losses were pared and the NASDAQ recovered into the green. US futures are up 0.4-0.7%.

* Investors remain jumpy and markets volatile, however, while the inversion of the yield curve looks worrying and highlights the rise in recession fears.

* Oil remains sharply weaker on growth fears and widening supply-demand dynamics. It is currently trading at $52.70.

* The official fixing of the onshore Yuan today was at a new 10-year plus low against the Dollar.

* RBNZ Governor Orr also repeated that negative rates are a possibility, which comes a day after the central bank caught widespread attention by implementing its first 50 bp easing since the immediate aftermath of 9/11.

Charts of the Day



Technician’s Corner

* YEN: The Yen has traded softer, concurrently with a tentative rebound in stock markets, which was seen on Wall Street into the close yesterday, and followed up with gains across Asia-Pacific bourses. USDJPY settled in the lower 106.00s, above the 7-month low seen yesterday at 105.49. AUDJPY, EURJPY and other Yen crosses also posted moderate gains as the Japanese currency saw some of its safe haven premium unwind. Better than expected China trade numbers and Japan and South Korea’s news helped buoy investor spirits, and while the official fixing of the onshore Yuan today was at a new 10-year plus low against the Dollar of 7.0039 (up from 6.9996 yesterday), a little firmer than markets had been anticipating.

Main Macro Events Today

* Jobless Claims (USD, GMT 12:20) – Initial jobless claims for the week of August 3 are estimated to fall to 214k, after rising to 215k in the week of July 27. Claims should average a cycle-low 212k in July, as seen last September, versus 222k in June and 217k in May. Claims drifted higher into June from tight levels through May, with a spike higher with the advent of the auto retooling season, but with an ensuing drop into mid-July with seasonal factor payback.

* Gross Domestic Product (JPY, GMT 23:50) – Growth in Japan is expected to have decreased by 0.5% in the second quarter from the 0.6% in the first quarter, reflecting weaker exports due to cooling global demand and trade tensions.


Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 12th August 2019.

MACRO EVENTS & NEWS OF 12th August 2019.



* Following a week of aggressive global central bank easing, with the escalation of the US-China trade war that is looking to have turned into a currency war, markets might take a small breath in the week ahead. However, the markets expected to remain volatile as the week is packed of economic data releases.

Tuesday – 13 August 2019

* Harmonized Index of Consumer Prices (EUR, GMT 06:00) – The final German HICP inflation for July expected to remain at 1.1% y/y after falling from 1.3% y/y in July’s preliminary release.

* Average Earnings & ILO Unemployment Rate (GBP, GMT 08:30) – The ILO unemployment rate (3-month) is expected to have remained at 3.8%, with average income falling 3.5% y/y in the three months to June in the ex-bonus figure,  and to 3.1% in the in-bonus figure from 3.4% y/y in July.

* ZEW Economic Sentiment (EUR, GMT 09:00) – Economic Sentiment for August is projected at -22.3 from the -24.5 seen last month, as the current conditions indicator for Germany turned negative. The overall Eurozone reading though expected to improved slightly at -3.1 from -20.3.

* Consumer Price Index (USD, GMT 12:30) – US CPI is expected to rise a 0.2% headline in July with a 0.2% increase in core prices, following respective June readings of 0.1% and 0.3%. As-expected gains would result in a headline y/y gain of 1.6%, steady from 1.6% in June, while core prices should rise 2.1%, a steady pace from June. Overall, the inflation outlook remains benign, though with an updraft into the end of Q1 and early-Q2 from a petroleum price rebound that reversed course temporarily in May.

Wednesday – 14 August 2019

* Industrial Production and Retail Sales (CNY, GMT 02:00) – The Chinese Industrial Production growth is expected to have decreased at 5.8% y/y in July from 6.3% y/y last month. A weak reading is also expected in Retail Sales figure at 8.6% from 9.8%.

* Gross Domestic Product (EUR, GMT 06:00-09:00) – German Preliminary Q2 results are expected to have stood at 0.4% q/q. Eurozone prelim. Q2 GDP growth expected to be confirmed at 0.2% q/q and 1.1% y/y.

* Consumer Price Index (GBP, GMT 08:30) – The UK July CPI expected to meet once again the expectations at 2.0% y/y, which was unchanged from the May rate. Core inflation should remain to 1.8% y/y. The data fits BoE projections, and shows that perky wage inflation hasn’t translated into higher headline rates yet.

Thursday – 15 August 2019

* Employment Data (AUD, GMT 01:30) – While the Unemployment Rate is expected to have remained at 5.2% in July, employment change is expected to have increased to 26.8K from 0.5K last month.

* Retail Sales (GBP, GMT 08:30) – UK Retail Sales are expected to have declined to -1.4%m/m in July following a 1.0% m/m contraction in June. In the y/y comparison, sales should rise 4.0% while the ex-fuel is projected at 2.7% y/y from 3.6% y/y.

* Retail Sales and Core (USD, GMT 12:30) – A 0.3% July retail sales headline is anticipated with a 0.5% increase for the ex-autos figure, following 0.4% June gains for both measures. Gasoline prices should provide a boost to retail activity given an estimated 1.7% gain for the CPI gasoline figure, though unit vehicle sales fell to a 16.8 mln pace in July from a 17.1 mln clip in June. Real consumer spending is expected to grow at a 2.9% rate in Q3, following the 4.3% Q2 clip.

* Philadelphia Fed Index (USD, GMT 12:30) – The Philly Fed index is seen falling to 9.0 from a 1-year high of 21.8 in July, versus a 33-month low of -4.1 in February. The producer sentiment readings all moderated through the turn of the year from elevated levels in response to global growth concerns, falling petroleum prices, fears about the ongoing trade war, and the partial government shutdown.

Friday – 16 August 2019

* Housing Data and Building Permits (USD, GMT 12:30) – Housing starts should rise to a 1.260 mln pace in July, after a dip to 1.253 mln in July. Permits are expected to improve to 1.270 mln in July, after falling to 1.232 mln in June. Overall, starts and permits should show a firm path into Q3, and the Q3 averages are expected of 1.263 mln for starts and 1.295 mln for permits.

* Michigan Consumer Sentiment Index (USD, GMT 14:00) – The preliminary August Michigan sentiment reading is forecast at 97.5, up from the final July sentiment at 98.4.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 13th August 2019.

MACRO EVENTS & NEWS OF 13th August 2019.



FX News Today

* RISK OFF

* 10-year Treasury yields are down -0.8 bp at 1.637%, JGB yields fell back -1.4 bp to -0.341% after falling to the lowest level since 2016 during the course of the session.

* Risk Aversion continued to dominate during the Asian session and stock markets headed south after the S&P fell more than 1.5% on Monday.

* Bond markets remained supported as investors continue to bet on further central bank action with trade concerns, Brexit risks and political unrest in Hong Kong adding to the risk off backdrop. U.S. 30-year rates are nearing all time lows with Argentina default risks only boosting the flight to quality that is seeing a marked flattening of the curve.

* In Asia escalating political protests in Hong Kong remain in focus and Australia’s 10-year bond yield opened at a fresh all time low. China’s 10-year rate meanwhile fell below 3% for the first time since 2016 before steadying slightly above the 3% mark.

* GOLD breaches $1520.00 (highest since April 2103) and USOil meanwhile is trading at USD 54.81 per barrel.

Charts of the Day



Technician’s Corner

* USD: The The dollar has traded moderately firmer against most of the other main currencies outside the case against the Australian dollar, which has modestly outperformed so far today. The yen softened, correcting some of the recent safe-haven driven gains, despite a tumble on Wall Street yesterday and across Asian equity bourses today, though the Japanese currency has lifted out of its lows into the London interbank open. There is plenty on the worry list, including disruptive pro-democracy protests in Hong Kong and a crash in Argentina’s peso following a poor performance of market-friendly Argentine President Macri in presidential primaries. Singapore also made a substantial cut to its GDP forecast for 2019 (to between 0% and 1%, down from 1.5%-2.5%), citing the deteriorating global conditions, with the Hong Kong situation, along with the U.S.-China and South Korea-Japan trade wars, and Brexit, all getting a mention. The U.S. yield curve is now at its lowest level since 2007, which is seen by many as portending recession, or at least a significant risk of recession. GS analysts also said that the U.S.-China trade war will have a bigger detrimental impact on the U.S. economy than it previously thought. A Reuters poll, meanwhile, found a new high in the probability being ascribed by analysts for there being a no-deal Brexit, which is now pegged at 35%, up from 30% in the previous survey. Amid all this, the PBoC set the yuan at a new near 11-year low against the dollar at the day’s midpoint fixing, at 7.0326, versus 7.0211 yesterday. Given the risk-on vibe, the yen looks likely to find fresh demand in London, with shorts of AUD-JPY and GBP-JPY likely

Main Macro Events Today

* Average Earnings & ILO Unemployment Rate (GBP, GMT 08:30) – The ILO unemployment rate (3-month) is expected to have remained at 3.8%, with average income falling 3.5% y/y in the three months to June in the ex-bonus figure,  and to 3.1% in the in-bonus figure from 3.4% y/y in July.

* ZEW Economic Sentiment (EUR, GMT 09:00) – Economic Sentiment for August is projected at -22.3 from the -24.5 seen last month, as the current conditions indicator for Germany turned negative. The overall Eurozone reading though expected to improved slightly at -3.1 from -20.3.

* Consumer Price Index (USD, GMT 12:30) – US CPI is expected to rise a 0.2% headline in July with a 0.2% increase in core prices, following respective June readings of 0.1% and 0.3%. As-expected gains would result in a headline y/y gain of 1.6%, steady from 1.6% in June, while core prices should rise 2.1%, a steady pace from June. Overall, the inflation outlook remains benign, though with an updraft into the end of Q1 and early-Q2 from a petroleum price rebound that reversed course temporarily in May.


Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.


Stuart Cowell
Head Market Analyst
HotForex

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

[HFblogNews]

Date : 19th August 2019.

Events to Look Out for This Week.



Trade worries remain and are expected to keep flip-flopping between risk-off and risk-back-on sentiment. Hopes for more central bank stimulus vies with fears that a number of major economies are simultaneously heading for recession, with a number of developing-world economies with high Dollar debt levels particularly exposed to the shifting financial cycle. Given these fears, further conciliatory remarks are likely from both China and the US with regard to their trade spat. Nevertheless, next week the economic calendar also focuses on the PMI releases globally.

Monday – 19 August 2019

* Consumer Price Index and Core (EUR, GMT 09:00) – The Euro Area CPI for July is expected to hold at 1.1%y/y in the final July reading from 1.3%y/y in June. Energy price inflation was clearly largely to blame and the core rate fell back to just 0.9%y/y from 1.1%y/y in the previous month. The core is anticipated to remain unchanged as well. With growth slowing down and the improvement on the labour market starting to fizzle out, chances are that inflation will continue to undershoot the ECB’s target range, thus adding to arguments for a comprehensive easing package in September.


Tuesday – 20 August 2019

* Monetary Policy Meeting Minutes (AUD, GMT 01:30)– The RBA left rates on hold in its last meeting, after back-to-back rate cuts in June and July, which put the cash rate at a record low of 1.00%, while Governor Lowe said that more easing measures could be needed. Minutes are expected to shed further light regarding future easing stance.

* Manufacturing Sales (CAD, GMT 12:30)[/B]– Manufacturing sales are anticipated to grow 2.0% in June after a 1.6% rebound in shipment values was revealed during May and following a 0.4% decline in April. The surge in transport equipment sales is consistent with the improving economy and as such fits with the BoC’s overall view that the economy is improving after temporary weakness in Q4/Q1.


Wednesday – 21 August 2019

* Consumer Price Index (CAD, GMT 12:30) – Canada’s CPI did not challenge the outlook for steady BoC policy this year. CPI slowed to a 2.0% y/y pace in June from the lofty 2.4% y/y clip in May. Inflation remains around the 2 percent target, with some recent upward pressure from higher food and automobile prices. Core measures of inflation are also close to 2 percent. Even though CPI inflation will likely dip this year because of the dynamics of gasoline prices and some other temporary factors, the annual and monthly numbers for July are expected to remain steady. As slack in the economy is absorbed and these temporary effects wane, inflation is expected to return sustainably to 2 percent by mid-2020.

*FOMC Minutes (USD, GMT 18:00) – The FOMC minutes, similar to the ECB Reports, provide an assessment as regards the views of the Fed’s policymakers about the interest-setter’s future stance and are usually a cause for FX turbulence.

Thursday – 22 August 2019

* Jackson Hole Symposium – Day 1

*Services and Manufacturing PMI (EUR, GMT 07:30-08:00) – July PMI readings highlighted manufacturing weakness. This picture is likely to be seen again in the preliminary readings for August, as Manufacturing PMI has been forecast at 46.3 from 46.5 last month, still down from 47.6 in June, and indicates a deepening recession in a sector that has been hit very hard by global trade tensions and no-deal Brexit risks. Meanwhile Services PMI is expected to fall to 52.7 from 53.2.

*Services and Manufacturing PMI (USD, GMT 13:45) – Preliminary Manufacturing are expected to grow in August, to 51.0 from 50.4, as Services PMIs are likely to fall to 51.7 from 53.

*New Zealand Retail Sales (NZD, GMT 22:45) – Usually considered an index of consumer confidence and overall consumption in the economy, higher retail sales point to higher consumption and hence higher economic growth which is good for the currency.

Friday- 23 August 2019

* Jackson Hole Symposium – Day 2

*Retail Sales ex Autos (CAD, GMT 12:30) – Retail sales are expected to have decreased in Canada, with consensus forecasts suggesting a -0.5% m/m decline should be registered in June and an unchanged ex-autos component at 0.3%. In May, Retail sales were disappointing, falling 0.1% for total sales and declining 0.3% for the ex-autos component. The decline in sales was driven by a 2.0% tumble in food and beverage stores. The report casts some doubt on the resiliency of the consumer sector to the ongoing parade of worrisome geopolitical and trade developments.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 20th August 2019.

MACRO EVENTS & NEWS OF 20th August 2019.



FX News Today

* Trade talk hopes and expectations of further stimulus measures kept stock markets underpinned during the Asian session.

* Treasury yields fell back as hopes of fiscal easing were scaled back somewhat.

* The US administration denied plans to cut payroll taxes to support growth and Germany’s reported contingency plan for a fiscal package in case of a deep recession, are clearly not the central scenario for now.

* The 10-year rate is down 1.5 bp at 1.591%, JGB yields dipped -0.1 bp to -0.241%.

* US President Trump called on the Fed to cut rates by “at least 100 basis points“. Fed’s Rosengren meanwhile pushed back against further rate cuts, saying that he is not convinced that slowing trade and global growth will significantly dent the economy.

* Comments from US Commerce Secretary Ross that the US will delay restrictions imposed on some of Huawei’s business operations helped to underpin sentiment, although.

* RBA Minutes:  The minutes to the early-August RBA policy meeting were released without surprises, affirming its wait-and-see-easing-bias stance while repeating its view that the weaker currency will help exports and tourism.

* Italian BTPs are underperforming this morning, ahead of PM Conte’s showdown in the Senate, although it seems Salvini’s attempt at a power grab may be backfiring as his coalition partner is trying to form an alliance with opposition parties.

* Topix and Nikkei are currently up 0.7% and 0.5% respectively. The Hang Seng is up 0.09% but the Shanghai Comp down 0.01%.

* European stock futures are slightly higher, as are US futures after a largely positive session in Asia.

* The WTI future is trading at USD 56.30 per barrel.

Charts of the Day



Technician’s Corner

* The Australian dollar has traded firmer and, to a lesser extent, the New Zealand buck. AUDUSD printed a 5-day high, at 0.6795, as did AUDJPY, at 72.36. Among the other main currencies, there has remained a lack of directional impulse. EURUSD has remained settled in the upper 1.1000s, holding below 1.1100, and USDJPY has become anchored around 106.50. The Dollar hasn’t been much affected by US President Trump’s call for the Fed to cut rates by “at least 100 basis points”. Overall investor sentiment is much less frayed that it was last week, with expectations for stimulus in major economies, along with Trump’s partial climbdown in his trade war with China, assuaging recession fears.

Main Macro Events Today

* Manufacturing Sales (CAD, GMT 12:30) – Manufacturing sales are anticipated to grow 2.0% in June after a 1.6% rebound in shipment values was revealed during May and following a 0.4% decline in April. The surge in transport equipment sales is consistent with the improving economy and as such fits with the BoC’s overall view that the economy is improving after temporary weakness in Q4/Q1.

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 21st August 2019.

MACRO EVENTS & NEWS OF 21st August 2019.



FX News Today

* Wall Street suffered another bout of weakness inspired by declines in Treasury yields.

* The USA500 lost near 0.8% after a late selloff, with the USA30 off 0.66%, ending the recent run of gains.

* Stocks traded mixed in Asia, while European as well as US futures are posting slight gains ahead of today’s Fed minutes and Powell’s speech at the Jackson Hole symposium later in the week.

* A drop in European rates spilled over to Treasuries, with the long end outperforming. That compressed the yield curve again, one of the main factors behind last Wednesday’s plunge on Wall Street.

* The markets will remain focused on the Fed today with the release of the minutes from July 30, 31 FOMC with hopes for dovish signals. Nearly 70 bps in easing is expected over the rest of the year.

* Top negotiators from Japan and the US will meet this week to try and narrow the gaps in ongoing trade talks, but hopes that there will be substantial progress on the key issues agriculture and automobiles seem to be fading.

* Italian BTPs outperformed yesterday on hopes that new elections can be avoided and that an alternative coalition government can be found to bring at least the 2020 budget underway helped to underpin Italian assets on Tuesday and at least so far there is no sign of contagion risks.

* Germany meanwhile will sell its first 30-year Bund with a zero coupon, and yields in today’s auction could turn negative for the first time.

* The AUD remained underpinned by upbeat comments from the RBA on the growth outlook in yesterday’s minutes.

* The WTI future is trading at USD 56.36 per barrel.

Charts of the Day



Technician’s Corner

* EURUSD bounced to 1.1100 highs on a short covering move, after failing to make any downside progress under Friday’s over 2-week low of 1.1066, along with another Treasury yield lurch lower. The pairing looks to be consolidating losses seen over the past week or so, and with sell-stops now said to be building around the 1.1050 level, a downside break is looking more likely. Not as dovish as expected FOMC minutes on Wednesday could save Euro bulls for now, though with the ECB primed to ease further, Germany poised for fiscal stimulus, the unknown impact of Brexit, and the political crisis in Italy, EURUSD looks set to test the 27-month low of 1.1027 seen on August 1.

* USDCAD rallied yesterday at 1.3344 a 2-month high, as WTI crude fell $1/bbl to $55.20, and as Canada manufacturing data came in on the soft side. USDCAD later pulled back toward 1.3310 as oil recovered some lost ground. The 200-day MA at 1.3305 becomes support now, after closing above the level on Monday. Resistance is the June 19 top of 1.3383.

Main Macro Events Today

* Consumer Price Index (CAD, GMT 12:30) – Canada’s CPI did not challenge the outlook for steady BoC policy this year. CPI slowed to a 2.0% y/y pace in June from the lofty 2.4% y/y clip in May. Inflation remains around the 2 percent target, with some recent upward pressure from higher food and automobile prices. Core measures of inflation are also close to 2 percent. Even though CPI inflation will likely dip this year because of the dynamics of gasoline prices and some other temporary factors, the annual and monthly numbers for July are expected to remain steady. As slack in the economy is absorbed and these temporary effects wane, inflation is expected to return sustainably to 2 percent by mid-2020.

* FOMC Minutes (USD, GMT 18:00) – The FOMC minutes, similar to the ECB Reports, provide an assessment as regards the views of the Fed’s policymakers about the interest-setter’s future stance and are usually a cause for FX turbulence.

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 22nd August 2019.

MACRO EVENTS & NEWS OF 22nd August 2019.



FX News Today

* FOMC minutes did not provide strong clues on the direction of rates.

* However, the lack of a signal that the Fed’s July rate cut was the start of an easing cycle was enough to eventually weigh on Treasuries.

* Asian stock markets struggled as investors continued to digest the implications of yesterday’s Fed minutes and trading conditions remained quieter than usual ahead of Powell’s speech at Jackson Hole tomorrow.

* Yields closed at their highs of the session after holding cheap levels all session. The curve narrowed below 1 bp as the short end underperformed.

* US President Trump continued to criticize the Fed Chairman, while suggesting the US may strike a deal on trade, but that didn’t prevent US futures from heading south overnight.

* Topix and Nikkei are currently down -0.13% and -0.09% respectively, despite improvements in PMI readings that were counterbalanced by an as expected decline in the All Industry Index.

* The WTI future meanwhile fell back to $55.45 per barrel.
 
* Brexit: Merkel gives Johnson 30 days to solve Backstop conundrum.

* Johnson is today expected in Paris, where the tone is likely to be harsher than in Berlin, although both Merkel and Macron have stressed that they are ready for a no-deal Brexit if there is no agreement.

* The UK curve remains inverted out to the 10-year area.

Charts of the Day



Technician’s Corner

*USDJPY printed a two-day low, at 106.28.The biggest mover, not surprisingly, has been AUDJPY, a forex market barometer of shifting risk-appetite patterns in global markets. The cross was showing a 0.5% loss heading into the London interbank open, and was testing one-week lows at 71.90. Next Support stands at 71.76 and 71.60. Resistance is at the pivot 72.20 level.

Main Macro Events Today

* Jackson Hole Symposium – Day 1

* Services and Manufacturing PMI (EUR, GMT 07:30-08:00) – July PMI readings highlighted manufacturing weakness. This picture is likely to be seen again in the preliminary readings for August, as Manufacturing PMI has been forecast at 46.3 from 46.5 last month, still down from 47.6 in June, and indicates a deepening recession in a sector that has been hit very hard by global trade tensions and no-deal Brexit risks. Meanwhile, Services PMI is expected to fall to 52.7 from 53.2.

* Services and Manufacturing PMI (USD, GMT 13:45) – Preliminary Manufacturing is expected to grow in August, to 51.0 from 50.4, as Services PMI is likely to fall to 51.7 from 53.

* New Zealand Retail Sales (NZD, GMT 22:45) – Usually considered an index of consumer confidence and overall consumption in the economy, higher retail sales point to higher consumption and hence higher economic growth which is good for the currency.

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.


Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 23rd August 2019.

MACRO EVENTS & NEWS OF 23rd August 2019.



FX News Today

* A confluence of factors whipped the markets around Thursday heading into the Jackson Hole Symposium and Chair Powell’s comments Friday at 10 ET.

* Hawkish remarks from George (she dissented against the July easing) and Harker (who votes in 2020) weighed on Treasuries and erased early gains from Wall Street.

* Minutes from both Fed and ECB meetings were not quite the all out dovish signal that some had been hoping for and comments from Fed members yesterday also showed a degree of caution with regard to further easing measures.

* The curve in the US steepened again after inverting briefly overnight, the curve flattened and inverted further in Japan.

* Stock markets across Asia moved mostly higher although gains remained contained by caution.

* New Zealand’s central bank governor said he could afford to wait before declining on additional easing measures.

* Onshore Yuan set at its weakest for 11 years.

* Japanese core consumer inflation at a 2-year low in July.

* Meanwhile lingering geopolitical trade tensions and political jitters in Hong Kong, Italy and the UK add to an uncertain backdrop. US futures are also cautiously moving higher.

* The WTI future is trading at USD 55.37 per barrel.

Charts of the Day



Technician’s Corner

*EURUSD returned to 3-week lows of 1.1064 today, after rallying to session highs of 1.1099 following the sub-50 US manufacturing PMI. Negative European yields appear to be taking their toll on the currency, keeping the Dollar in demand in place for relatively high yielding US Treasuries. This has likely been a major factor keeping EURUSD under pressure, especially ahead of likely ECB easing in September, and perceptions that the Fed will not be as aggressive in easing as previously thought. Key EURUSD level is the 27-month low of 1.1027 seen on August 1.

*USDJPY rallied to 106.64 highs. The risk-sensitive pairing can be expected to consolidate into today’s much anticipated speech from Fed chair Powell, from Jackson Hole.

*GBPUSD: Sterling had its best single day rally since March 13 against the Dollar. Cable’s high was 1.2273, which is the loftiest level seen since late July. The gains were sparked by comments made by German’s Merkel, who indicated that a solution to the Irish border backstop conundrum is doable by the October-31 Brexit deadline. UK Prime Minister Boris Johnson followed this up by saying at his joint press conference with France’s Macron that he was encouraged by his talks in Berlin yesterday, and that a deal, he thinks, can be done ahead of October 31. Macron, said, however, that while he has always respected the UK’s decision to leave the EU, the European project has to be protected, to which the Irish backstop remains an important part of ensuring this. Merkel’s remarks were little more than rhetorical platitudes, though enough to trigger a short squeeze in a heavy shorted currency.


Main Macro Events Today

* Jackson Hole Symposium – Day 2

* Retail Sales ex Autos (CAD, GMT 12:30) – Retail sales are expected to have decreased in Canada, with consensus forecasts suggesting a -0.5% m/m decline should be registered in June and an unchanged ex-autos component at 0.3%. In May, Retail sales were disappointing, falling 0.1% for total sales and declining 0.3% for the ex-autos component. The decline in sales was driven by a 2.0% tumble in food and beverage stores. The report casts some doubt on the resiliency of the consumer sector to the ongoing parade of worrisome geopolitical and trade developments.

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 26th August 2019.

MACRO EVENTS & NEWS OF 26th August 2019.

[​IMG]

As Jackson Hole Symposium winds down, lingering geopolitical trade tensions and political jitters in Hong Kong, Italy and the UK remain on the table to add further to an uncertain backdrop and to weigh on sentiment. From the data perspective, Thursday and Friday are the most data-heavy days with US GDP and Durable Goods, and Inflation releases from Europe and Tokyo.
Monday – 26 August 2019
German IFO (EUR, GMT 08:00) – German IFO business confidence is expected to spike higher at 97.1 after it fell back to 95.7 in the July reading from 97.4 and is now at levels last seen in 2013. The Ifo services reading already fell back 10 points this year to 17.7 in July from 27.8 in December last year. Trade and construction sectors are clearly less optimistic than at the end of 2018.
Durable Goods (USD, GMT 12:30) – Durable goods orders are expected to rise 0.2% in July, after a 1.9% figure in June. Transportation orders should rise 0.5%. Boeing orders rose to 31 from 9 in June, with continued weakness due to the hit from problems with the Boeing 737 Max that has prompted buyers to delay new purchase commitments. Vehicle assemblies rose to an 11.6 mln pace from 11.5 mln in June. Durable shipments are expected to be flat, and inventories should rise 0.4%. The I/S ratio is expected to tick up to 1.66 from 1.65 in June.
Tuesday – 27 August 2019

Gross Domestic Product (EUR, GMT 06:00) – German Preliminary Q2 GDP growth is expected to remain unchanged, after it contracted -0.1% q/q on August 14. Annual rates looked better than expected and the economy still expanded 0.4% y/y on a working day adjusted basis, but trade tensions and Brexit uncertainty clearly left their mark.
CB Consumer Confidence (USD, GMT 14:00) – The Consumer confidence is expected to ease to 133.0 in August from an 8-month high of 135.7 in July. We see a 169.2 current conditions reading, versus 170.9 in July. The expectations index should fall to 1008.8 in June from 112.2, versus an 18-year high of 115.1 in October. Overall, confidence measures remain historically high.
Thursday – 29 August 2019

Harmonized Index of Consumer Prices (EUR, GMT 12:00) – The German HICP inflation is jump to 1.3% y/y for August after it was revised down to 1.1% y/y in July.
US Gross Domestic Product (USD, GMT 12:30) – The preliminary Q2 GDP growth is expected to trim to 1.9% from 2.1%, with a $6 bln hike in consumption that accompanies a $2 bln boost for nonresidential investment. A downward revisions is expected of -$5 bln for inventories, -$4 bln for exports, -$3 bln for imports, -$8 bln revision for public construction, -$2 bln residential investment, and -$1 bln for equipment spending.
Tokyo CPI and Production Data (JPY, GMT 23:30) – The country’s main leading indicator of inflation is expected to have slip at 0.7% y/y core in August, and at 0.8% y/y ex Fresh Food. Industrial Production should post a 0.3% grow m/m in July, compared to -3.3% in June.
Friday – 30 August 2019

Consumer Price Index (EUR, GMT 09:00) – The Euro Area flash CPI for August is expected to rise slightly, at 1.1% y/y from 1.0% y/y last month. Eurozone Unemployment rate is anticipated steady at 7.5%.
Gross Domestic Product (CAD, GMT 12:30) – Canada’s economy remained sluggish in Q1, with real GDP rising just 0.4% (q/q, saar) after a 0.3% gain in Q4 (revised from 0.4%). The Q1 growth rate was shy of expectations, but it was far from a shocking result as tepid activity was projected as the economy continued to recover from the oil price shock last year. Meanwhile the Q2 release is expected to be released higher at 0.7% q/q from 0.4% gain in Q1 , due to the strong showing from net exports.The monthly trade report revealed a 14.7% gain in export volumes (q/q, saar) following the 4.1% drop reported in the Q1 GDP report.
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 27th August 2019.

MACRO EVENTS & NEWS OF 27th August 2019.



FX News Today

* It was another 180 for Wall Street as stocks rebounded with broad based gains after Friday’s 2%+ plunge.

* Trade talk continued to dominate the market narrative.

* President Trump turned more positive on the prospect of a trade deal with China and investors in Japan were relieved by comments that the US won’t immediately impose tariffs on car imports from Japan.

* JPN225 gained 1.1% and CSI 300 and Shanghai Comp rose 1.8% and 1.6% amid trade talks hopes and as China’s central bank lowered the Yuan midpoint to a new 11 1/2 year low, but not as low as anticipated.

* The Hong Kong Chief Executive Carrie Lam said her government is able to handle ongoing protests without assistance from Chinese forces.

* The WTI future is trading at $53.86 per barrel

* GER30 futures are struggling for direction, US futures are heading south and UK100 futures are also firmly in the red after returning from yesterday’s holiday.

* German Q2 GDP confirmed at -0.1% q/q, as expected, investment fell -0.1%. The main drag, however, not surprisingly came from net exports as exports fell -1.3% q/q.

Charts of the Day



Technician’s Corner

* EURUSD fell from overnight highs of 1.1163, with the bulk of losses coming following weaker German Ifo data (weakest since 2012). The pairing opened the NY session near 1.1120, later easing to a 1.1097 base and it is consolidating at that point since then. The poor EU growth outlook, the upcoming Brexit deadline, trade angst, and ECB easing potential should continue to conspire against the Euro going forward. Support is at Friday’s near one-month low of 1.1052, with Resistance near 1.1160.

* USDJPY put in an impressive recovery, topping at 106.40 yesterday. Now the Yen has settled lower at 105.70 level, into the London interbank open, with a 0.4% gain versus the Dollar, and a 0.6% rise against the Australian Dollar, which has been the underperformer of the main currency pack. The flight-to-safety dynamic, while modest, has been concomitant with a dip in USA500 futures, and has come despite firmer stock markets in Asia. At prevailing levels the USDJPY is sitting at about the halfway point of the range that was seen on Friday and yesterday.

Main Macro Events Today

* CB Consumer Confidence (USD, GMT 14:00) – The Consumer confidence is expected to ease to 133.0 in August from an 8-month high of 135.7 in July. We see a 169.2 current conditions reading, versus 170.9 in July. The expectations index should fall to 1008.8 in June from 112.2, versus an 18-year high of 115.1 in October. Overall, confidence measures remain historically high.

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 28th August 2019.

MACRO EVENTS & NEWS OF 28th August 2019.

[​IMG]

FX News Today
Trade developments remained the centre of attention.
A Bloomberg report suggested that after a weekend of confusing signals only a few negotiators in Beijing expect that a deal with the US will be possible ahead of the 2020 election in the US election, partly because there are concerns that any deal signed now may eventually be broken by Trump.
With hopes of a deal dampened again, Asian stocks drifted.
Concern that the gaze of the US will also focus on imports from Japan and the EU again continue to linger and central banks may not be quite as eager to inject more stimulus as markets are.
JPN225 managed marginal gains of 0.16%, the Hang Seng rose 0.05%, but CSI 300 and Shanghai Comp lost -0.28% and 0.24% respectively.
China announced measures to help boost consumption and flagged the possible removal of restrictions on car purchases, but that wasn’t enough to prevent Chinese markets from slipping.
Norwegian Oil Fund planning to shift up to EUR 100 bln out of European stocks. The influential fund said it wants to reduce the current share of European stocks, which is at around 30%, after being scaled back previously. In the future, the U.S. share, which is already higher, will be stocked up.
The WTI future is trading at USD 55.54 per barrel.
German import price inflation fell further into negative territory.
Charts of the Day
[​IMG]

Technician’s Corner
GBPUSD turned higher, printing near 1-month highs of 1.2310, as markets downplay the potential for a no-deal Brexit. The Brexit battle will commence next Tuesday, when parliament reopens after the summer recess. Given the level of support in parliament for ruling out the no-deal option, including some members from the government’s own Conservative Party, there is a reasonable chance that no-to-no-deal members will succeed. If a no-deal Brexit is legislated off the table, this would increase the odds of there being an extension, which in turn would put Prime Minister Johnson, having promised to deliver Brexit on October 31 in a difficult position.
USDCAD moved mildly higher even as crude oil prices firmed. Perkier oil prices provided some support to the CAD in London morning trade. USDCAD closed above its 20-day MA, which is seen as a fresh bullish development. The level (1.3266) now becomes Support, with Resistance at 1.3315 and 1.3342, the August peak.
Main Macro Events Today

German GfK consumer confidence held steady at 9.7% y/y in the advance September reading, unchanged from the previous month. The full breakdown, which is only available until August, also showed an improvement in the willingness to buy, while saving becomes even more unpopular in the light of falling interest rates. So far then consumption seems to be holding up, but with the labour market starting to be affected by the contraction in manufacturing it seems only a matter of time until consumption trends also slow.
US Calendar is light, and has mortgage and oil inventory data, 2-year and 5-year auctions.
Support and Resistance levels

[​IMG]

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 29th August 2019.

MACRO EVENTS & NEWS OF 29th August 2019.



FX News Today

* Bunds cautious after hawkish comments from Nowotny, who said the ECB should be prepared to disappoint markets sometimes.

* BTPs are rallying after confirmation that acting PM Conte will get a second chance, this time backed by a coalition of PD and Five Star Movement.

* Stock markets remained cautious amid the lack of firm news on the US-Sino trade front and waiting to see what impact the latest tariffs will have and what global central banks are doing, with further easing measures expected to be in the pipeline as trade tensions hit the world growth outlook.

* US Secretary Steven Mnuchin said US trade officials expect Chinese negotiators to visit Washington, but would confirm whether a previously planned meeting in September will take place.

* European and US futures are in the red: In Europe Brexit jitters and the increased risk of a no-deal scenario cloud over the outlook after PM Johnson moved to suspend parliament for a large part of the remaining time until the October 31 Brexit date.

* Oil prices slipped on growth worries, despite signs that OPEC supply cuts are curtailing US inventories.

Charts of the Day



Technician’s Corner

* USDJPY recovered from opening lows of 105.65, managing to rally to 105.95 after Wall Street turned higher. Treasury yields remain lower however, acting to limit the pairings upside potential. Bigger picture, the risk-sensitive USD-JPY may still have room to run lower, as flare ups in the U.S./China trade war are likely to continue. There is little sign of progress, or even talks under way, as additional tariffs on Chinese goods are set to kick in on Sunday. Monday’s 33-month low of 104.45 is the next downside target.

* USOIL rallied to $56.70 from $56.35 following the EIA inventory data which showed a 10.0 mln bbl fall in crude stocks. The street had been expecting a 2.0 mln bbl decrease, though the API reported an 11.1 mln bbl draw after the close on Tuesday. Meanwhile, gasoline supplies, seen down 0.5 mln bbls actually fell 2.1 bbls, while distillate stocks were down 2.1 mln bbls, versus expectations for a 1.5 mln bbl fall.

Main Macro Events Today

* Harmonized Index of Consumer Prices (EUR, GMT 12:00) – The German HICP inflation has jumped to 1.3% y/y for August after it was revised down to 1.1% y/y in July.

* US Gross Domestic Product (USD, GMT 12:30) – The preliminary  Q2 GDP growth is expected to trim to 1.9% from 2.1%, with a $6 bln hike in consumption that accompanies a $2 bln boost for nonresidential investment. A downward revision is expected of -$5 bln for inventories, -$4 bln for exports, -$3 bln for imports, -$8 bln revision for public construction, -$2 bln residential investment, and -$1 bln for equipment spending.

* Tokyo CPI and Production Data (JPY, GMT 23:30) – The country’s main leading indicator of inflation is expected to have slip at 0.7% y/y core in August, and at 0.8% y/y ex Fresh Food. Industrial Production should post a 0.3% grow m/m in July, compared to -3.3% in June.

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 30th August 2019.

MACRO EVENTS & NEWS OF 30th August 2019.



FX News Today

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

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

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

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

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

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

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

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

Charts of the Day



Technician’s Corner

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

Main Macro Events Today

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

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

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 2nd September 2019.

MACRO EVENTS & NEWS OF 2nd September 2019.



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

Monday – 02 September 2019

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

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

Tuesday – 03 September 2019

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

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

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

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

Wednesday – 04 September 2019

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

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

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

Thursday – 05 September 2019

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

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

Friday – 06 September 2019

* UK court hearing on forcing no-deal Brexit

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

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

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 3rd Sepember 2019.

MACRO EVENTS & NEWS OF 3rd Sepember 2019.



FX News Today

* Asian stocks traded mixed in a thin trade.

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

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

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

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

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

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

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

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

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

Charts of the Day



Technician’s Corner

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

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

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

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

Main Macro Events Today

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

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

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 4th Sepember 2019.

MACRO EVENTS & NEWS OF 4th Sepember 2019.



FX News Today

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

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

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

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

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

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

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

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

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

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

Charts of the Day



Technician’s Corner

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

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

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

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

Main Macro Events Today

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

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

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 6th Sepember 2019.

MACRO EVENTS & NEWS OF 6th Sepember 2019.



FX News Today

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

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

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

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

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

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

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

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

Charts of the Day



Technician’s Corner

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

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

Main Macro Events Today

* UK court hearing on forcing no-deal Brexit

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

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

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

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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

[HFblogNews]

Date : 11th Sepember 2019.

MACRO EVENTS & NEWS OF 11th Sepember 2019.



FX News Today

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

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

* President Trump has fired National Security Adviser John Bolton.

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

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

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

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

Charts of the Day



Technician’s Corner

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

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

Main Macro Events Today

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

* Crude Oil Inventories (GMT 14:30)

Support and Resistance levels



Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

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