Date : 12th April 2019.

MACRO EVENTS & NEWS OF 12th April 2019.



FX News Today

* 10-year Treasury yields are unchanged at 2.497% and JGB yields up 0.6 bp at -0.059%, in catch up trade, after perky US PPI readings put pressure on bonds yesterday, even if they are not expected to alter the Fed’s patient policy setting for now.

* Chinese bonds continue to underperform amid warnings on the still large number of non-performing loans that could threaten some banks and force the government to step in.

* Stock markets traded mixed, again with China underperforming, as markets await key trade numbers. Topix and Nikkei are down -0.10% and up 0.67% respectively.

* The Hang Seng lost -0.27% so far and CSI 300 and Shanghai Comp are down -0.49% and -0.26% respectively.

* Reports of impending cost cuts at Australia’s largest bank meanwhile helped the ASX to close with a gain of 0.76%.

* US futures are posting slight gains ahead of key earnings reports from JPMorgan Chase and Wells Fargo. The front end WTI future is trading at USD 63.83 per barrel.

Charts of the Day



Technician’s Corner

* EURUSD keeps trading above the 1.1276 level in the last few hours, after trading below that point through the night. A strong Resistance point remains at 1.13. Stochastics and the MACD show signals of a downwards move.

* GBPUSD keeps trading around the 1.30 mark, crossing its 20HMA early today, but with indicators showing mixed signals.

* USDJPY continues to increase and broke through the 111.68 level, and coming near the 111.80 Resistance. Stochastics and the MACD show an easing of the upwards movement.

* XAUUSD had a bad day yesterday, breaking through four Support levels and ending below 1294. Since then, it has been registering a slow upwards trend, something more evident in the Stochastics than the MACD indicator.

Main Macro Events Today

* China Imports and Exports (CNH, AUD, N/A) – Even though no exact time has been specified, China’s trade performance is expected to have a strong effect on its currency and the Aussie. Exports are expected to have increased, after a sharp decrease last month, while imports are still expected to have shown negative growth.

* Industrial Production (EUR, GMT 09:00) – Industrial Production is expected to have decreased by 0.6%, compared to growth of 1.4% in January.

* Michigan Consumer Sentiment Index (USD, 14:00) – US Sentiment is expected to decline to 98.0 in April, compared to 98.4 in March.

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.

Dr Nektarios Michail
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.

Date : 16th April 2019.

MACRO EVENTS & NEWS OF 16th April 2019.



FX News Today

* A mixed picture on Asian bond markets as Stock markets were mostly higher, while Japanese indices fell back from early lows and Chinese indices rallied in the second part of the session.

* A lacklustre Bank earnings report yesterday saw some investors turning cautious again and in Asia many will be waiting for Chinese GDP numbers tomorrow.

* US futures are moving higher, with the Dow Jones future up 0.239%.

* The front end WTI future is trading at USD 63.27 per barrel.

Charts of the Day



Technician’s Corner

* EURUSD settled to narrow orbit of 1.1300, consolidating with MACD, and RSI been flattened in the neutral zone confirming the lack of direction. Resistance is set at PP level at 1.1306 and Support is at the latest low 1.1292.

* USDCAD edged higher at 1.3395, holding inside recent ranges, as crude oil slumped $0.50. As it is set for a 2nd trading day above 20-day MA with upper Bollinger bands extending to the upside, a retest of the next Resistance levels at 1.3405 and 1.3440 could be seen.

* USDJPY  found support again under the 112.00 mark, after topping at 112.03 overnight. A move over the March 5 high of 112.13 could take the pairing to near 4-month highs. Support now comes in at 111.79.

Main Macro Events Today

* Earnings and Unemployment Rate – Average Earnings are expected to have remained at 3.4% while the unemployment rate is expected to have increased to 4%.

* German ZEW – The ZEW investor sentiment is expected to lift out of negative territory in the April reading and rise to 0.5 from -3.6 in March, which would be a continuation of the improvements in recent months and suggests that pessimists no longer outnumber optimists.

* US Industrial Production – March industrial production is projected to rise 0.2%, after a flat February reading, and capacity utilization should edge up to 79.2% from 79.1%.

* NZ CPI Inflation – New Zealand’s inflation rate is expected to have declined to 1.8% y/y compared to 1.9% y/y in the final quarter of 2018.

* Trade Balance – The Japanese trade balance is expected to turn out positive in March, standing at 310 billion Yen, compared to 335 billion Yen in February.

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.

Date : 18th April 2019.

MACRO EVENTS & NEWS OF 18th April 2019.



FX News Today

*  10-year Treasury yields corrected -2.7 bp to 2.567% and JGB yields are down -1.4 bp at -0.0033%.

*  Asian bonds were generally supported, as stock markets sentiment turned sour again, with South Korean paper underperforming after the BoK left interest rates unchanged, but cut its growth and inflation forecast to 2.5% and 1.1% respectively.

*  Record household debt was one of the factors holding the BoK back from cutting rates for now, and South Korea’s 10-year yield jumped 5.9 bp as the bank tried to calm recession fears.

*  Stock markets generally corrected from the six months high seen yesterday with uninspiring corporate earnings and problems with a new Samsung phone preventing further gains for now.

*  Topix and Nikkei lost -0.96% and -0.80% respectively, after Wall Street closed with slight losses.

*  The Hang Seng is down -0.58%, CSI 300 and Shanghai Comp down -0.44% and -0.39% respectively. The ASX dropped -0.10% and US stock futures are also broadly lower, suggesting ongoing pressure on markets.

*  The front end WTI future meanwhile is trading at USD 63.77 per barrel.

Charts of the Day



Technician’s Corner

* EURUSD is still trading around the 1.13 level, and in a channel with key Resistance at 1.1320 and Support at 1.1279. Both are still strong after having bounced yesterday. Indicators are issuing mixed signals.

* GBPUSD has been stable around the 1.30 level, still unable to break through, fluctuating between the 1.3067-1.3026 Resistance and Support levels. Indicators are giving positive signals.

* USDJPY started the day below 112.00 mark, as indicators are suggesting a downwards movement. Support remains at 111.80.

* XAUUSD is trading at year-to-date lows, after breaking through the 1275 Support level. 1270 is the next Support level, with indicators are showing signs of stabilization.

Main Macro Events Today

* EU PMIs (EUR, GMT 08:00) – Manufacturing and Composite PMIs are expected to increase in April, to 47.9 and 51.8 respectively while the Services PMI is forecasted to have remained at 53.3.

* Retail Sales ex Fuel (GBP, GMT 08:30) – UK Retail Sales ex Fuel are expected to have increased to 4% y/y, compared to 3.8% y/y in March.

* Retail Sales ex Autos (USD, GMT 12:30) – Retail Sales are expected to have increased to 0.4% in March, up from the negative 0.2% surprise in February.

* Retail Sales (CAD, GMT 12:30) – Retail Sales are forecasted to have registered an increase in Canada as well, to 0.2% compared to 0.1% in January.

* Philly Fed Index (USD, GMT 12:30) – Philly Fed index is expected to have eased to 10.3 compared to 13.7 in March.

* Markit PMIs (USD, GMT 13:45) – Mixed signals are expected from the PMI release, as Manufacturing is expected to have increased to 52.8 from 52.4, while the Services PMI is expected to have declined to 55 from 55.3.

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.

Dr Nektarios Michail
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.

Date : 22nd April 2019.

Events to Look Out for Next Week.



The shortened week starts with just one piece of news on Monday and Tuesday from the US, while Wednesday will be in focus as the UK Parliament returns from its Easter recess. US Durable Goods are out on Thursday along with the BoJ rate decision.

Wednesday – 24 April 2019

* CPI (AUD, GMT 01:30) – Australia’s inflation rate for Q1 is expected to have declined slightly to 1.7% y/y compared to 1.8% y/y in the final quarter of 2018.

* IFO (EUR, GMT 08:00) – Business climate in the largest EU country is expected to have grown marginally to 99.9 compared to 99.6 last month.

* Event of the week – BoC Interest Rate Decision (CAD, GMT 14:00) – At the BoC meeting, consensus expectations are that there should be no interest rate change. A sharper and more broadly based slowdown in the domestic economy, alongside a slowing in the global economy that has been more pronounced and widespread than anticipated saw the Bank state “the outlook continues to warrant a policy interest rate that is below its neutral range.”

Thursday – 25 April 2019

* Event of the week – Interest Rate Decision (JPY, GMT 02:00) – Among the core central banks, BoJ is firmly poised to be “low for longest”. Hence, once again BoJ is expected to keep the interest rate as it is, given that it appears to have finally had an impact on the Japanese economy.

Durable Goods (USD, GMT 12:30) – March durable goods orders are expected to rise 0.2%, following a 1.6% February decline. Shipments expected to fall 1.5% in March, after a 0.2% reading in February.

* Tokyo CPI and Production Data (JPY, GMT 23:30) – The country’s main leading indicator of inflation is expected to have remained at 1.1% y/y in April. Industrial Production is expected to have improved, growing by 0.6% m/m in March, compared to -1.1% m/m in February, while Retail Sales are expected to have increased by 1.2% y/y, compared to 0.6% in March.

Friday – 26 April 2019

* US Gross Domestic Product (USD, GMT 12:30) – The economy’s most important figure, Q1 GDP is expected to rise 2.6%, following a 2.2% pace in Q4 and 3.4% growth in Q3.

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.

Date : 24th April 2019.

MACRO EVENTS & NEWS OF 24th April 2019.



FX News Today

* Australia’s bond as well as stock markets rallied after inflation came in lower than anticipated at 0.0% q/q, down from 0.5% in the previous period and versus median expectations of 0.1%.

* Markets are convinced that the inflation miss will make a rate cut all but inevitable and 10-year yields plunged 10.5 bp, while the ASX jumped as much as 1.1% to a more than 11 year high, after already outperforming yesterday.

* Elsewhere in Asia markets were under pressure, however, despite the strong close on Wall Street, where sentiment was boosted by upbeat earnings reports.

* The USA500 and USA100 closed at record highs Tuesday

* Twitter stock surged more than 15% on earnings beat, while the Coca-Cola share price is up 2% as Q1 earnings revenue was $8.02 billion, topping projections of $7.88 billion. The concerns that China may slow the pace of policy easing and stimulus measures continue to weigh on sentiment.

* WTI oil softer today after surge to 6-mth high at $66.60 yesterday.

Charts of the Day



Technician’s Corner

* USOIL softer at 66.00 hurdle after topping at a new nearly six-month high of $66.60. Overall,  outlook holds to the upside as the asset is sloping within an uptrend, with small corrections to the downside.

* USDJPY has continued to oscillate in a narrow range in the 111.75-112.00 area.  The focus this week will be on fresh signs that corroborate the return-to-growth picture in major global economies. A continuation of this theme would be supportive of currencies that performer with higher beta characteristics, such as the Dollar bloc units, while currencies of the low-yielding safe haven type, such as the Yen, would be apt to underperform. USDJPY has Support at 111.54-111.60, levels which encompass the prevailing position of the 200-day moving average.

* AUDUSD dove to 0.7026, just a breath above 3-year Support. It was driven by Aussie-specific losses following sub forecast CPI data out of Australia, which catalysed calls for the RBA to cut interest rates at its next policy review in May. A break of 0.7000 could open the way towards a December slip.

Main Macro Events Today

* IFO (EUR, GMT 08:00) – Business climate in the largest EU country is expected to have grown marginally to 99.9 compared to 99.6 last month.

* Event of the week – BoC Interest Rate Decision (CAD, GMT 14:00) – At the BoC meeting, consensus expectations are that there should be no interest rate change. A sharper and more broadly based slowdown in the domestic economy, alongside a slowing in the global economy that has been more pronounced and widespread than anticipated saw the Bank state “the outlook continues to warrant a policy interest rate that is below its neutral range.”

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.