Date : 29th March 2019.

MACRO EVENTS & NEWS OF 29th March 2019.



FX News Today

* 10-year Treasury yields are up 0.5 bp at 2.400% and JGB rates lifted 0.6 bp to -0.100% amid a broad move higher in long yields across Asia.

* Hopes of progress in US-Sino trade talks helped to underpin confidence and stock market sentiment improved after Mnuchin said he had a “productive working dinner” in Beijing yesterday with the US Treasury Secretary and US Trade Representative in China to resume trade talks.

* Chinese markets in particular benefited and CSI 300 and Shanghai Comp are up 3.49% and 2.85% respectively. The Hang Seng has risen 0.97% so far, while Topix and Nikkei closed with gains of 0.56% and 0.82% respectively and the ASX lifted 0.08%. US futures are also broadly higher and the front end WTI future is trading at USD 59.54 per barrel.

* The Brexit Vote today, which only includes the Withdrawal Agreement and not the Political declaration, will likely fail, again. The day is largely symbolic as today was supposed to be Brexit Day.

Charts of the Day



Technician’s Corner

* EURUSD continued its downwards trend, breaking through the 1.1256 Support level. However, it appears to have reached the end of the hill as both the MACD and Stochastics point to the upside.

* GBPUSD keeps declining as fears of no-deal Brexit continue, currently fluctuating around the 1.30 Support. Indicators are registering mixed signals as the MACD is positive and the Stochastics are negative, while the short MA crossed the long MA a couple of hours ago.

* USDJPY gained some despite mixed Japanese data, as the country appears to have been able to maintain its inflation at stable levels. The pair broke through the 110.73 level and is currently trading just below the 200HMA at 110.62. Both MACD and Stochastics are pointing downwards.

* XAUUSD remained flat below the $1300 mark after the drop from the 1311 level yesterday. No particular movements observed from the indicators.

Main Macro Events Today

* UK GDP (GBP, GMT 09:30) – 2018Q4 GDP is expected not to have seen any material changes from its preliminary estimate and remain at 1.3% y/y.

* PCE and PCE Inflation (USD, GMT 12:30) – Personal spending is expected to have increased by 0.3% in January, compared to a reduction of 0.5% last month. PCE inflation is expected to have remained at 1.9%, the same as in December.

* Canada GDP (CAD, GMT 12:30) – Canadian GDP is expected to have registered no m/m growth in January, compared to a 0.1% contraction in December.

* UK Parliament Brexit Vote (GBP/EUR, GMT 13:30) – The final call for Brexit, with MPs having to vote on a deal that is essentially the same as before albeit not defining the UK’s future relationship with the EU.

* Chicago PMI (USD, GMT 13:45) – The Chicago PMI is expected to register signs of weakness in March, reducing to 61.0 from 64.7.

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.

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 : 2nd April 2019.

MACRO EVENTS & NEWS OF 2nd April 2019.



FX News Today

* Wall Street was higher overnight, followed by the better than expected US manufacturing ISM and construction spending reports (they offset disappointing retail sales).

* JGB yields still moved higher, in tandem with most Asian stock markets, but the buoyant mood in equities that dominated yesterday’s session turned a bit more muted, as the focus turned from revived hopes on a US-Sino trade deal and a recovery in the manufacturing sector to Brexit risks.

* RBA left monetary policy on hold amid increased downside risks, but seems to be awaiting the fiscal injection that is expected to be unveiled today.

* UK Parliament rejected all options on Brexit compromise, customs union close miss.

* GBP was under pressure due to revived concerns of a no-deal scenario.

* WTI crude rallied 2% to a fresh 5-mth high near $61.82, on supply side tightness.

* USDJPY lifted to 11-day highs amid risk-on; EURUSD hit 3-week low near 1.12.

* GOLD holds the key 1285 level – at 1287.

Charts of the Day



Technician’s Corner

* GBPUSD is under pressure once again, trading southwards below its Pivot for the 10th consecutive hourly session. A breach and break of S1 at 1.3025 could suggest the retest of 26-day Support at 1.2970.

* USDJPY printed an 11-day high at 111.45, as the safe haven premium of the Japanese currency unwinds. USDJPY has support at 111.20.

* NZDUSD holds at 3-week lows. Support holds at 0.6770. The next support on the break of the latter is at 0.6750. If the asset rebounds however, Resistance has been set at 0.6800. Overall outlook remains negative due to the descending triangle formation and the decreasing momentum indicators in the daily chart.

* BTCUSD – biggest mover – Spiked to 5013 from 4216. However, intraday the asset looks overbought, with RSI at 81, and a doji closing the past hour.

Main Macro Events Today

* UK Markit Construction PMI (GBP, GMT 08:30) – The Construction PMI is expected to improve to a 50.0 reading after dropping sharply in February to 49.5, which was the lowest reading since July 2016 (the month after the vote to leave the EU).

* Durable Goods (USD, GMT 12:30) – February Durable Goods orders are expected to decline to 1.2%, following a 0.3% January gain.

* Nondefense Capital Goods Orders ex Aircraft (USD, GMT 12:30)

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.

Date : 4th April 2019.

MACRO EVENTS & NEWS OF 4th April 2019.



FX News Today

* 10-year Treasury yields are down -1.1 bp at 2.513% and JGB yields fell back -0.5 bp to -0.060%, as the stock rally stalled during the Asian session and the USD consolidated overnight.

* Big misses for ADP Jobs (50k) and ISM Non-Manufacturing PMI (19-month low) pressed a pause on Equity rally.

* Parliament passed (by 1 vote) a bill to ask to extend Brexit Day beyond April 12, but it remains unclear whether there is time to get it through by May 22. A longer extension looks most likely while the odds of a full 2nd Referendum odds are also increased.

* Asian markets are mostly trading narrowly mixed, with traders waiting for another catalyst such as tangible progress on the US-Sino trade talks before pushing equity markets out further following the recent rally.

* Topix and Nikkei are down -0.11% and unchanged on the day respectively. The Hang Seng dropped -0.42%, while CSI 400 and Shanghai Comp are up 0.80%, with hopes of government stimulus after the government said it plans to cut some airline fees adding support. The ASX meanwhile lost -0.83%.

* Oil futures are trading at USD 62.37 per barrel.

* German Factory Orders just in and is a big miss it is (-4.2% vs expectations of +0.3%), putting the German Industry in recession territory.

Charts of the Day



Technician’s Corner

* GBPUSD reacted positively after the UK Parliament asked the government to ask for another extension of the Brexit deadline. Resistance level remains at 1.3184, with a strong one at 1.32, while Support is bounded by the 200HMA at 1.3137.

* EURUSD is trading close to but below its 200HMA at 1.1248, affected by the weaker than expected US data, with indicators not showing a clear direction.

* USDJPY paused its rise after the worsening in US data releases, stabilizing around the 111.40 level. Both the MACD and the Stochastics indicators are suggesting a downturn. Support and Resistance remain at 110.73 and 111.68, although the former could change as the 200HMA could be binding.

* XAUUSD continues trading below 1300, fluctuating around the 1290 mark. Next Resistance point is at 1294.50 with indicators suggesting a mild upwards movement.

Main Macro Events Today

* ECB Monetary Policy Meeting Accounts (EUR, GMT 11:30) – The ECB Accounts, similar to the FOMC Minutes, provide an insight with regards to the policymakers’ thinking about the European economy’s potential.

* Jobless Claims (USD, GMT 12:30) – Continuing Jobless Claims are expected to have decreased over the last week of March, while Initial Jobless Claims are forecast to have increased.

* Canada PMI (CAD, GMT 14:00) – The Canadian PMI is expected to have risen to 51.1 in March, compared to 50.6 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.

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 : 8th April 2019.

MACRO EVENTS & NEWS OF 8th April 2019.



FX News Today

* 10-year Treasury yields are down -1.1 bp at 2.485% and 10-year JGB yields fell back -2.9 bp to -0.069%.

* Stock markets failed to get lasting support from China stimulus hopes and the rebound in US payrolls on Friday. Indices climbed initially after a document published on the central government website yesterday suggested Beijing would step up the policy of targeted cuts to banks’ reserve ratios in a bid to encourage lending to small and medium sized companies.

* However, while the ASX still managed to close 0.54% higher, Chinese bourses erased earlier gains and Hang Seng and Shanghai Comp are down -0.03% and -0.87% respectively, while the CSI 300 blue chip index is down -0.75%. Topix and Nikkei also struggled and lost -0.42% and -0.25%.

* Earnings reports are coming into focus and investors are positioning for lacklustre results.

* US futures are also heading south, which suggests a correction from the six month high seen last week after the employment report. President Trump pressured the Fed to do more to sustain growth, while official comments from both sides suggest progress in trade talks.

* Oil prices are higher and the front end WTI future trading at USD 63.33 per barrel, amid concerns that fighting in Libya could lead to supply outages.

Charts of the Day



Technician’s Corner

* EURUSD moved in a downwards channel on Friday and early today, and has bounced off its 200HMA at 1.1230, although trading around it in the past couple of hours. Support still remains at 1.1213, while Resistance, after the 200HMA stands at 1.1233. Indicators are showing mixed signals.

* GBPUSD gained some on the last trading hours, bouncing off the 1.3067 Resistance, although the overall trend is still down. Support remains at 1.3027. The MACD is registering positive signs as the Stochastics are showing negative.

* USDJPY made a significant downwards move as the Japanese trade balance showed a surplus, compared to expectations of a deficit. After breaking through the 111.68 Support, the pair bounced off 111.34, as indicators are showing positive signs.

* XAUUSD broke clear of the 1294.5 Resistance level, and is currently trading just above its 200HMA, at 1296. Next Resistance level is 1300.

Main Macro Events Today

* Factory Orders (USD, GMT 14:00) – February orders are expected to have declined by 0.6% m/m, compared to a 0.1% increase in January.

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 : 10th April 2019.

MACRO EVENTS & NEWS OF 10th April 2019.



FX News Today

* 10-year Treasury yields are down -1.4 bp at 2.486% as JGB yields fell back -0.4 bp to -0.063%.


* The IMF’s growth downgrade has rekindled concerns about the outlook for the world economy and the US threat of new tariffs on imports from Europe has reminded markets that geopolitical trade tensions are far from resolved and put a stop to the rally in recovery in stock markets seen over the past week.

* China’s bond yield rose to the highest this year as risk aversion flared up and the focus increasingly turns to China’s still large number of non-performing loans.

* Markets are also looking to Europe today, where the EU has to make a decision on yet another Brexit extension. The IMF named Brexit as one of the risks to world growth.

* Wall Street closed in the red and Asian markets also headed south, with Topix and Nikkei down -0.73% and -0.66%. The Hang Seng lost -0.34% so far and CSI 300 and Shanghai Comp are down -0.10% and -0.14%.


* US stock futures, however, are posting marginal gains, after yesterday’s correction on Wall Street.


* The front end WTI future meanwhile continues to hold above USD 64 per barrel.

Charts of the Day



Technician’s Corner

* EURUSD started moving upwards on early Wednesday, following the Brexit positive news, with both Stochastics and the MACD showing support for this movement.

* GBPUSD has been fluctuating in the 1.3026-1.3067 range for the past hours, also bounded by the 200HMA at 1.3082. Stochastics and the MACD support an upwards movement.

* USDJPY broke through the 200HMA, now at 111.31 early yesterday, but has been moving in a slight upwards trend after the worse than expected machinery orders for February. Indicators support the movement.

* XAUUSD broke through the 1300 mark but is still bounded by the 1304 Resistance, with indicators appearing indecisive regarding the future trend in the pair.


Main Macro Events Today

* UK Manufacturing and Industrial Production and GDP (GBP, GMT 08:30) – Manufacturing production is expected to have declined by 0.7% y/y on February, compared to -1.1% in January. Industrial Production is expected to have eased to 0.1% m/m compared to 0.6% m/m last month, while UK GDP for February is forecast to register zero growth m/m, down from 0.5% m/m in January.

* ECB Interest Rate Decision (EUR, GMT 11:45) – No changes are expected in the ECB policy rate, even though some policy guidance should be offered, especially with regards to future rate hikes.

* US CPI Inflation (USD, GMT 12:30) – Core CPI is expected to have remained at 2.1% y/y, close to the Fed’s 2% target. The overall index is forecast to rise to 1.8% compared to 1.5% in March.

* European Council Summit on Brexit (EUR-GBP, GMT 16:00) – The future of Brexit is expected to be discussed in the summit, with the EU said to offer a “flextension” until either December 2019 or March 2020, even providing the UK with the opportunity to withdraw its application for leaving the EU.

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.