Good morning, afternoon or evening & welcome to Monday morning and the new month. And the response to the weekend news (ICYMI): As we said when the news came out, risk getting a little bit of a boost really early, yen down: EUR/USD 1.1361 USD/JPY 108.26 (USD/JPY up 35 or so points from late Friday levels).
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Yen Supported by Two Huge Uncertainties; USDJPY Downtrend May Extend The Japanese Yen has headed into a new calendar quarter on a high note, with its customary haven role underscoring demand which has brought USD/JPY down to its 2019 lows. US Dollar Q3 Forecast: Dollar Feeling Weight of Fed, GDP and Trade Wars The US
The European Union (EU) leaders hope to reach an agreement over dinner from 1800 CET (1600 GMT) on deciding the bloc’s top five positions, as cited by Reuters. However, they have also scheduled a breakfast on Monday should the job selection process extend beyond Sunday’s dinner. In an interview with the Anglo-American Press Association of
The US President Trump met the North Korean leader Kim Jong Un at the Demilitarised Zone (DMZ) between the two Koreas on Sunday and exchanged pleasantries, Reuters reports. Trump said: “It’s a great day for the world.” In response, Kim said: “This is an expression of his willingness” to work towards a new future.
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Sterling (GBP) is likely to become more volatile as the clock ticks down to the latest Brexit deadline – October 31st – with both sides becoming increasingly weary and frustrated at the continued ‘cankicking’ exercise. Against this backdrop, Sterling is likely to become more volatile, a boon for traders who have had to sit back
These are the official PMI survey results, from NBS, for June 2019. The private survey PMIs (Caixin/Markit)will follow from Monday. Manufacturing 49.4 expected 49.5 (range of ‘expecteds’ was 49.0 to 50.1 according the Bloomberg survey of 29 analysts) prior 49.4 As you can see, unchanged on the month but down slightly on expected, and still
Saudi Arabian Energy Minister Khalid al-Falih took to Twitter late on Saturday, noting that the that the agreement between the Russian and Saudi leaders at the sidelines of the G20 Summit to extend the OPEC+ oil output cut agreement from July would help reduce global inventories and stabilize the oil markets, as cited by Reuters.
#forextrader #forexstrategy #priceaction One of the most popular ways to enter a trade is on a pullback – and for good reason! Joining a trend at a well timed pullback can be extremely effective, and in this video we talk about a method you can use to look for these types of setups. Want to
The US Dollar was heading into the second half of 2019 in an uncomfortable state of uncertainty. While there have been a few abrupt declines registered by the benchmark currency through the year, each bout of fear seemed to burn itself out before unease became contagious panic. Yet, after months of congestion holding back increasingly
What to look out for when markets open next week? Trump and Xi once again managed to use their affinity to help strike a compromise in getting trade talks back under way earlier today. Of note, Trump said that the US will not be levying new tariffs against China while also allowing for Huawei to
Following the comments from the Russian President Putin, the country’s Energy Minister Alexander Novak said that Russia’s deal with Saudi Arabia on crude production cuts shows their commitment to stabilizing the oil market. The focus now remains on the key OPEC+ meeting in Vienna on July 1st and 2nd.
The Russian President Putin met the Saudi Arabian delegation at the G20 meeting and said that Russia agreed with Saudi Arabia to extend the OPEC+ oil output cuts deal by six to nine months. Oil bulls are likely to receive a double booster on Monday following the US-China trade truce and the above headlines. WTI
Positive news via China state media (Xinhua, CCTV) on a trade war truce: The US will not levy new tariffs on Chinese goods US and China to restart trade talks US and China trade teams will have talks on detailed issues US President Trump: We had an excellent meeting with Xi As good as it
http://www.TradeAdvisorPro.com/free – Free Forex trading strategy videos In this video I show you one of my favorite forex trading strategies and how to find support and resistance levels in an up-trending Forex marketing. I will show you how to take these support and resistance levels to find the best entry points where to place your
WILL SLOWER ECONOMIC GROWTH & TRADE WARS DRAG CRUDE OIL PRICES? Since Q2, oil prices have fallen a little over seven percent, considerably less than the 30-plus percent climb they experienced at the beginning of the year. Rising concerns about the pace of global economic growth is pressuring WTI as inventories bulge while many central
In a G20 communique to be issued later on Saturday, the G20 leaders will agree to accelerate World Trade Organization (WTO) reforms but stop short of calling for the need to resist protectionism. Key Headlines: A Japanese government official noted: The G20 members broadly agreed on the need to accelerate stalled WTO reforms in Friday’s
Forex news for New York trade on June 28, 2019: Market: Gold flat at $1409 WTI crude down $1.23 to $58.20 S&P 500 up 17 points to 2941 US 10-year yields down 1 bps to 2.00% NZD leads, JPY lags on the day The Canadian dollar made a pair of attempts to break out and
June usually isn’t a great month to buy stocks Changes for the S&P 500: Daily +0.6% (+17 points to 2941) Monthly +6.9% Quarterly +3.8% All the US indexes performed roughly in-line over the month, with gains around 7% and slight outperformance in the Nasdaq (+7.4%). This was really about the reversal of the Mexican tariffs.
Non trending transitions to trending.. The EURUSD is mired in a 68 pip range this week. Putting that into perspective, there has not been a more narrow range week since 2004 (there was one other 68 pip range in 2014). Moreover, the range over the last 3 days is only 50 pips. The market
Someone dumping oil futures Oil made a sharp move lower at the end of the day, dropping to $58.21 from $59.16 in twelve minutes. There is no clear catalyst for the move but it comes ahead of month-end, the G20 and the OPEC meeting so there are plenty of reasons for worry. Next week is
Six straight days of gains for NZD/JPY Catching a falling knife isn’t my style but it’s worked with NZD/JPY. The pair was the biggest percentage mover this week, climbing 2.3% in a rally to 72.41 from 70.60. All the commodity currencies did well this week but the catalyst for the kiwi was the RBNZ, which
According to analysts from Rabobank, given that a July policy move from the FOMC is well priced in, they see the EUR/USD pair likely moving lower on a 1 to 3 month view, before moving towards the 1.15 region in the middle of next year. Key Quotes: “Expectations that the Federal Reserve is on the
S&P and Nasdaq up 0.5% on the day now The US stocks are hitting a new session high. S&P index is up 15.30 points or 0.53% Nasdaq is up 42 ponite or 0.53% Dow is up 109 points or 0.41% Looking at the hourly chart of the Nasdaw the low this week Tuesday, stalled just
The New Zealand Dollar is the top performer against the US Dollar this week with NZD/USD rallying nearly 2% ahead of the close on Friday. The advance takes price into a resistance range we’ve been tracking for days now and the focus is on the monthly close for guidance. These are the updated targets and
They knocked on the door (and the GBPUSD door opened), but pushed out In earlier posts today, I talked about the EURUSD and the 1.13927 level and the GBPUSD and the 1.27244 to 1.27313 area. The EURUSD did move up toward the 1.13927 only to turn away at 1.13917. We trade at 1.1380 currently. The
The Feb low at 1.3068 approached… The USDCAD has pushed back down after the BOC Business outlook survey came in better than expected and points to the BOC sitting on the sidelines (see Adam’s post here). Technincally, the low from February 1, came in at 1.3068. The low earlier today reached 1.30666. We just traded