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Discussion in 'Forex' started by HFblogNews, Sep 1, 2014.

  1. HFblogNews

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    Date : 13th June 2018.

    MACRO EVENTS & NEWS OF 13th June 2018.

    [​IMG]

    FX News Today

    Asian Market Wrap:
    Stock markets are mostly in the red as a lacklustre session in Asia draws to a close. Investors left G7 and North Korea summits behind and focused on major central bank decisions this week. Haven assets including the yen weakened amid hopes of diminishing geopolitical risks and a weaker yen helped Nikkei and Topix to outperform and post gains of 0.44% and 0.53% respectively. U.S. Treasury yields moved up from early lows and are now up 0.7 bp at 2.970%, while 10-year JGB yields corrected early gains and are down -0.2 bp at 0.041%. The Fed kicks off the round of CB decisions with a 25 bp rate hike pretty much a done deal, leaving the focus on the rate outlook and similar to the ECB meeting tomorrow, there could actually be good news for markets if the guidance is less hawkish than feared. U.S. stock futures at least are moving higher for now.

    FX Update:Most currencies have been directionally dormant so far today, though USDJPY managed to claw out a fresh three-week high at 110.68. Yen crosses also remained underpinned, though most, such as EURJPY and AUDJPY, for instance, remained below recent highs. Global stock markets have lost upside traction, with risk appetite turning somewhat neutral as market participants anticipate live Fed and ECB meetings this week, with the former set, later today, to hike the Fed funds rate by 25 bp and the latter to announce, tomorrow, an end of QE. Attention will be on the respective guidance the central banks give. The Japanese currency has been under-performing as it loses some of its safe haven premium following all the bonhomie, feel-good glow of the Trump-Kim summit.

    Charts of the Day

    [​IMG]Main Macro Events Today

    • UK CPI and Core CPI Expectations to dip to a new cycle low of 2.4% y/y from 2.5% y/y in the month prior, and see core CPI to also remain unchanged, at 2.1% y/y.
    • US PPI Expectations a 0.2% increase in headline PPI. The gain should be reflect a 0.3% increase in services prices and a more benign 0.1% rise in goods prices (related to a 0.8% increase in PPI gasoline).
    • US Crude Oil Inventories Expectations crude supplies expected to decline by 1.4M barrels.
    • FOMC Statement & Press Conference Expectations A 25 bp rate hike, a second for this year, is a fait accompli. So, what will be market moving will be the quarterly forecasts (SEP), including the dot-plot, a potential tweak in IOER, and any surprises from Powell. The key risk for the markets is with the dot plot, and whether the median dot remains at three tightenings this year, or is bumped up to four. With the markets concerned over an aggressive FOMC, maintaining the dots at three would be bond friendly.
    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
    HEREto 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. ClickHEREto 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.
     
  2. HFblogNews

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    Date : 14th June 2018.

    MACRO EVENTS & NEWS OF 14th June 2018.
    [​IMG]FX News Today
    European Fixed Income Outlook:The 10-year Bund yield is down -0.1 bp at 0.477% in opening trade. Bond markets pretty quickly shrugged off the hawkish Fed during the Asian session as the PBOC failed to follow up and as stock markets headed south. The PBOC didnt follow the Fed and tighten policy as had been speculated, but Trump said he will confront China very strongly over trade in coming weeks and a number of key data of of China, including retail sales and industrial output missed estimates, which added to concerns over a softening economy. Bond markets benefited from the sell off in stocks and the fact that the PBOC refrained from tightening and even Treasury yields fell back from earlier highs. 10-year Treasury yields are down -1.8 bp and at 2.948%, below the levels seen ahead of the Fed announcement. 10-year JGBs are down -0.6 bp. German final inflation data held no surprise and was confirmed at 2.2% y/y and the data calendar also has final French inflation readings as well as U.K. retail sales, but the focus is on the ECB, which is finally expected to confirm the end of QE, leaving the focus on the forward guidance.FX Update: The dollar has more than given back gainsseen in the immediate wake of the Feds rate hike and hawkish-tilting guidance. EURUSD recouped back above 1.1800 after dipping to a 1.1725 low, post Fed. The euro has been trading generally firmer over the last day, gaining against the pound, Swiss franc, among other currencies, with market narratives focusing on the successful Italian auction of 30-year bonds yesterday, with the appetite for the long-dated debt seen as a good litmus test of investor sentiment on the new Italian government. Market participants are also anticipating the ECB to announce an end of QE policy today. Elsewhere, USDJPY printed a three-day low of 110.04. The biggest movement out of the main currencies has been AUDJPY and is showing a loss of over 0.5%. The Aussie dollar has been under pressure following a sub-forecast Australian employment report. Ahead today, the ECB is expecting to announce the end of QE, while U.S. President Trump will reportedly decide whether to proceed with tariffs on Chinese goods later on Thursday and his unabashed form this week suggests he wont hold back.Charts of the Day
    [​IMG]Main Macro Events Today

    • UK Retail Sales Expectations to rise 0.5% m/m in May, which would affirm a continued recovery from sharp weather-affected weakness in March, although at a decelerated pace from the 1.6% m/m growth seen in April.
    • SNB press conference
    • ECB Rate Decision and Press Conference Expectations Comments from ECB officials suggest that the ECB is finally ready to formally announcethe end of net asset purchases.The main question in recent months has been the actual timing of the announcement, not the policy change. So the announcement of a short taper through Q4 would not really come as a surprise, leaving intense focus on the forward guidance. Mr. Draghi expected to initially wrap the announcement in rather dovish language to keep markets from running away with rate hike speculation at a time when geopolitical risks are still hanging over markets.
    • US Retail Sales and Unemployment Claims Expectations Retail sales are expected to rise 0.4% in May, following a 0.2% increase in April and a 0.7% gain in March. Initial jobless claims are estimated to be slightly changed at 224k for the week ended June 9.
    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.ClickHEREto 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. ClickHEREto 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.
     
  3. HFblogNews

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    Date: 15th June 2018.

    MACRO EVENTS & NEWS OF 15th June 2018.
    [​IMG]FX News TodayEuropean Fixed Income Outlook:10-year Bund yields are down -0.9 bp at 0.41% in opening trade, as global bond markets remain supported by Draghis dovish tone yesterday, which was followed by a BoJ statement that left policy unchanged, but downgraded the inflation assessment. Global stock markets are trading mixed though, as the focus returns to trade risks. And for Europe, the weaker EUR may still add support to equity markets, but given that rate hike expectations had already been pushed out amid weak data releases, market reaction to the ECBs commitment to keep rates steady through summer 2019 seems somewhat overdone. The European calendar has final inflation readings for the Eurozone as well as trade numbers for April, but after the ECB move yesterday these are unlikely to have much market impact.FX Update:The dollar has traded broadly firmer so far today, with the ECBs dovish-tilting guidance yesterday coupled with the BoJ lowering its prognosis on the inflation outlook (following a widely-anticipated decision to leave monetary policy unchanged) serving to emphasize the Feds relatively hawkish stance. EURUSD extended to a fresh 16-day low of 1.1555 in Asia trading. The pair had been trading above 1.1820 ahead of the ECBs announcement yesterday, and the magnitude of losses are the sharpest over a day since October 26th-27th of last year. USDJPY, meanwhile, lifted to a 24-day high of 110.99. The BoJs downgraded CPI forecast underlines the chronic undershooting of the inflation target and points to ongoing ultra-accommodative policy which includes pegging the 10-year JGB yield at near 0% for the foreseeable future, certainly through to 2019. The dollar also posted gains against the dollar bloc currencies and sterling, and most other currencies, including emerging and newly-developed world currencies. Market participants will now be bracing for President Trumps expected escalation of trade tariffs, as he will reportedly be confirming tariffs on China later today.Charts of the Day[​IMG]Main Macro Events Today


    • Eurozone May HICP Expectations inflation is expected to be confirmed at 1.9% y/y with the final release today, up from 1.2% y/y in April. The impact of higher oil prices is partly to blame, as are higher food prices, but in the preliminary number core inflation also lifted. The headline rate is pretty much in line with the ECBs definition of price stability and there is in fact a slight risk of an upside revision. However, with the ECB meeting out of the way, and Draghi confirming that rates wont rise before the end of the summer 2019 the numbers are unlikely to have much market impact.
    • Canada manufacturing Sales Expectations expected to reveal a 1.0% gain in April after the 1.4% rise in March.
    • US Industrial production & UoM Consumer Sentiment Expectations Industrial production may rise 0.2% in May, following strong 0.7% readings in April and March and capacity utilization should edge up to 78.1% from 78.0%. Finally, the Michigan sentiment expected to be improved to 98.5 from 98.0.
    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.ClickHEREto 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. ClickHEREto 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.
     
  4. HFblogNews

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    Date : 18th June 2018.

    MACRO EVENTS & NEWS OF 18th June 2018.

    [​IMG]
    THE ECONOMIC WEEK AHEAD

    Main Macro Events This Week

    The FOMC tightened policy last week and followed with a more hawkish stance as it suggested two more hikes could be on the way this year. Additionally, the ECB finally announced a phase-out of QE asset purchases. But, a balanced press conference from Fed Chairman Powell and a dovish slant from President Draghi mitigated a bearish response in the markets. But trade tensions resurfaced Friday after President Trumps announced tariffs on China, which responded in kind. Central banks remain in the spotlight and the BoE headlines, but there are also decisions from Switzerland, Taiwan, Thailand, and the Philippines, along with the ECBs Sintra conference. OPEC meets while PMI data will provide timely clues global economies.

    United States: The U.S. data calendar should support the more upbeat message on the economy delivered by the FOMC last week. Housing reports dominate and should show overall improvement. June PMI reports should also reveal still solid readings, even if they moderate slightly. And the leading economic index should rise for an 8th consecutive month. May housing starts
    (Tuesday)are estimated rising 0.6% to 1.295 mln following a 3.7% plunge in April to 1.287 mln. The June NAHB housing market index(Monday)is expected unchanged at 70. Also on tap is the FHFA home price index(Thursday)which should rise to 263.1 in April from 261.7. The Philly Fed index(Thursday)should fall 9.4 points to a still-strong 25.0 in June, after jumping 11.2 points to a 1-year high to 34.4 in May, with a concomitant slide in the ISM-adjusted Philly Fed to 59.7 from a 45-year high of 62.5 in May. Markit manufacturing and services PMIs are dueFriday.The May leading economic index(Thursday)is expected to rise 0.3%, following gains of 0.4% in April and March. This would be an 8th consecutive increase, and the index hasnt posted a decline since May 2016. The current account deficit(Wednesday)is expected to widen to -$129.0 bln in Q1, from -$128.2 bln in Q4. Initial jobless claims(Thursday)are seen edging up 1k to 219k in the week ended June 16, which coincides with the BLS employment survey week. Claims are oscillating around tight levels at multi-decade lows.

    Canada:The calendar features two top tier data releases and an appearance by a Bank of Canada official. The week beings with Senior Deputy Governor Patterson(Monday),who speaks to the Investment Industry Association of Canada on Rebooting Reference Rates. In May, the Bank maintained the 1.25% rate setting and moved closer to hiking rates again, but assured that their approach remains gradual.

    CPI(Friday)is expected to climb 0.4% in May (m/m, nsa) after the 0.3% gain in April, as further gains in gasoline prices boost the CPI. The CPI is projected to expand at a 2.5% y/y pace in May from 2.2% in April. A jump in the annual CPI growth rate should not alter the BoCs gradualism in the May announcement they noted that inflation will likely be a bit higher in the near term than forecast in April due mostly to gasoline prices.Retail sales(Friday)are anticipated to rise only 0.1% (m/m, sa) in April after the 0.6% gain in March, as a decline in vehicle sales weighs. The ex-autos aggregate is expected to improve 0.5% after the 0.2% drop in March. Wholesale shipment(Thursday)are seen rising 0.5% in April after the 1.1% gain in March, which would provide a welcome contrast to the 1.3% plunge in manufacturing shipment volumes revealed for April.

    Europe: This weeks round of data releases, which include preliminary PMI readings, are unlikely to offer much comfort as we expect a further decline in confidence levels across both manufacturing and services sectors. With markets still adjusting to the latest policy twists, data releases may have limited impact.

    The Eurozone June Manufacturing PMI(Friday)at 55.0, down from 55.5 in the previous month, as trade concerns continue to bite. The services reading is expected to hold up slightly better and fall back to 53.8 from 53.8 in the May. This could leave the overall reading at 53.6, down from 54.1 in the previous month. Again, still a robust number suggesting solid growth, but the ongoing decline in confidence readings in Q2 will likely lead to further downward revisions to growth estimate, as the slowdown in Q1 proved to be not quite as temporary as initially expected. So far labor markets continue to improve and wage growth is picking up, so only a small decline in the Eurozone preliminary consumer confidence number is expected(Thursday)to 0.1 from 0.2, although negative geopolitical headlines could have dented sentiment more than anticipated.

    Other data releases include national French confidence numbers, as well as the final reading of French Q1 GDP, the latter too backward looking to have much impact. German PPI inflation is expected to jump to 2.5% from 2.0% thanks to higher oil prices, but at this juncture that wont matter much as the ECB already lifted its inflation forecasts.

    UK:The BoEs MPC gathers for a policy meeting (announcingThursday),where a no change in the 0.5% repo rate and QE totals are widely anticipated. The focus will fall on the statement and minutes for guidance, which will be of particular interest following a run of overall disappointing data so far available from April and May. Much will also depend on incoming data and how the worsening trade war evolves, in so far as it starts to have a material impact on global economies, thereby, and policymaker decision making. The UKs data calendar features the June CBI industrial trends survey(Wednesday),which due to the reports limited breadth and short survey period tends to be overlooked by markets, and May government borrowing figures(Thursday).

    Japan: The April all-industry index(Thursday)is estimated rising 0.8% m/m from the prior flat reading. The pace of inflation likely slowed slightly. May national CPI(Friday)should reveal a cooler 0.5% y/y pace overall from the prior 0.6% clip.

    Australia:The minutes to the Reserve Bank of Australias May meeting(Tuesday)are the highlight of a thin week.
    Please note that times displayed based on local time zone and are from time of writing this report.ClickHEREto 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. ClickHEREto 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.
     
  5. HFblogNews

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    Date: 22nd June 2018.

    MACRO EVENTS & NEWS OF 22nd June 2018.
    [​IMG]FX News TodayAsian Market Wrap:10-year Treasury yields are up 0.5 bp at 2.9025, 10-year JGBs up 0. 1bp at 0.025%, both are down from session highs, but holding on to some of their gains as stock market sentiment settles ahead of key PMI readings in the Eurozone and the US today. Stock market sentiment remains muted, after yesterdays sell off on Wall Street, but indices are up from early lows. Topix and Nikkei are still down -0.46% and -0.63% respectively, Hang Seng and CSI 300 managed to claw back some of yesterdays losses and are up 0.19% and 0.40%. Trade concerns continue to linger and in Europe Italian political jitters remain a major concern, but US Stock Futures are improving. USOIL rallied and is at $66.26. OPEC and its allies reached a preliminary agreement to boost production despite opposition from Iran. The calendar had national CPI for Japan, which saw the annual reading rising to 0.7% from 0.6%. The Manufacturing PMI Index, meanwhile, rose to 53.1 from 52.8 and the All Industry Activity Index also improved.FX Update:The Dollar has traded moderately softer so far today, extending a theme that has been seen since yesterday following the release of the Philly Fed index, which came in much weaker than expected. Amid this backdrop, the Euro has corrected some of its recent losses against most other currencies, which has likely reflected short covering, although in a market still wary about the Italian Governments Eurosceptic bias. EURUSD has recovered back above 1.1600, posting a 3-day high at 1.1638. The pair had yesterday printed an 11-month low at 1.1508. USDJPY has settled near the 110.0 level, consolidating yesterdays losses after the pair posted a 5-day high at 1110.75. Today, the focus will be on PMI survey data out of both Europe and the US, the evolving trade war, and the OPEC-plus-Russia meeting in Vienna, the run-in to which has exposed signs of discord among some members, which has pushed oil prices up.Charts of the Day[​IMG]Main Macro Events Today


    • German PMI Expectations June Manufacturing PMI should fall at 56.2 from 56.9 in the previous month. The Services reading is expected to remain unchanged at 52.1
    • Eurozone PMI Expectations June Manufacturing PMI is expected at 55.1 down from 55.5 in the previous month, as trade concerns continue to bite. The Services reading is expected to hold up slightly better and fall back to 53.5 from 53.8 in the May.
    • Canadian CPI and Retail Sales Expectations CPI is expected to grow 0.4% (m/m, nsa) in May after the 0.3% rise in April. The CPI is projected to grow at a 2.5% y/y pace in May, accelerating from the 2.2% clip in April. The Retail Sales are expected to rise only 0.1% in April after the 0.6% gain in March.
    • US Services PMI Expectations is seen falling slightly to 56.4 in June.
    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.ClickHEREto 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. ClickHEREto 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.
     
  6. HFblogNews

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    Date: 25th June 2018.

    MACRO EVENTS & NEWS OF 25th June 2018.
    [​IMG]Main Macro Events This WeekThe escalating trade war remained the dominant negative force in the markets the past couple of weeks, along with OPEC fine tuning its supply constraints. Heading into quarter-end, centrifugal forces on trade, immigration, policy, growth and inflation will continue to stretch investor patience. One last flurry of inputs and risks will be mulled as we cross the threshold into Q3.United States: The US economic calendar will be highlighted by the Personal Income and Consumption Report, which should register solid growth in May. Well also get the final Q1 GDP reading, which is expected to show moderate improvement from the Q1 second estimate. Yet focus has shifted to the Q2 reading, which should show a strong rebound in spending and growth. Also of interest will be Consumer Confidence and Michigan Sentiment, which should confirm that consumers continue to perceive economic and market conditions as positive. Durable Goods orders may decline, while New Home Sales should show modest improvement in May. The following weeks calendar to kick off July will include key June data, with payrolls expected to record a solid 195k increase.Fedspeak resumes with Dallas Fed hawk Kaplan(Tuesday)Q&A and Atlanta Fed dove Bostic in an armchair chat on civil rights. Fed VC for supervision Quarles will discuss International Regulatory Participation and Cooperation(Wednesday)and Boston Fed hawk Rosengren will mull Is the Economy Too Sensitive to Economic Downturns? St. Louis Fed dove Bullard will take part(Thursday)in a discussion on the US Economy and Monetary Policy.Canada:BoC events dominate the docket this week: a speech by Governor Poloz to the Greater Victoria Chamber of Commerce(Wednesday)will be the final outing for a BoC official ahead of the July 11 rate announcement. An economy running near potential, 2% CPI and a 40-year low jobless rate are consistent with the Bank delivering on the signals from the May announcement and progress report that pointed to a near term rate hike. But recent data has undershot expectations, notably April retail sales and May CPI. We still expect a 25 basis point increase in July, but the likelihood has been trimmed in recent weeks due to the data. Another rate hike is penciled in this year (expected to happen in October) but uncertainty over NAFTA further clouds the policy outlook past July.The Bank of Canadas Business Outlook Survey for Q2(Friday)is expected to show an economy still running near potential, with inflation expectations at well inside the Banks 1-3% target range and perhaps a downtick in the outlook for future sales due to trade uncertainty.Europe: A busy week is in store that brings key confidence indicators as well as preliminary inflation data for June. At the same time, political uncertainties remain high with the immigration question dividing not just the German government, but turning into a test of the wider European Union just as heads of states prepare for the crucialJune 29-30summit on Brexit.The recently revamped Ifo Business Climate Index(Monday)now also incorporates Services Sentiment, which is expected to help the overall Business Climate Index to remain stable at 102.0, unchanged from the previous month and with the expectations reading seen falling only marginally to 98.2 from 98.5. Similarly, the ESI Economic Confidence reading(Thursday)is expected to come in just slightly weaker at 112.0, down from 112.5 in May. Preliminary Consumer Confidence came in weaker than expected and together with an expected dip in industrial confidence is likely to draw the index down. Preliminary Inflation readings meanwhile are likely to see the Eurozone HICP rate(Friday)reaching 2.0% in June, the upper limit of the ECBs definition of price stability. The German rate(Thursday)is expected to lift to 2.3% from 2.2%. PMI surveys seem to be backing this up and despite the recent slowdown, job creation continues and unemployment continues to decline. German Jobless numbers(Friday)are seen falling a further -5K, leaving the jobless rate at a very low 5.2%.UK:Last weeks BoE policy meeting was unexpectedly impactful, with the minutes showing an increased rank of three MPC members calling for a 25 bp hike in the repo rate, more than the two expected. Although still outnumbered to the tune of six, the dissenters have put a rate hike as soon as November back on the table. The minutes showed that most members are overlooking the recent economic soft patch, although the majority still want to see more data. In its May Inflation Report, the BoE made it clear that declining spare capacity and low productivity growth meant that gradual and measured monetary tightening will be warranted.The calendar this week brings the June CBI Retail Sales survey(Tuesday),and the June Gfk Consumer Confidence survey, 3rd release Q1 GDP, Q1 Current Account figures and the BoEs monthly report on lending and monetary supply (all due onFriday).Japan: The May Services PPI(Tuesday)is seen cooling to 0.8% y/y, after nearly doubling to 0.9% in April from 0.5% in March. May Retail Sales(Thursday)should be unchanged at 1.5% y/y overall, as they were in April.Fridaysheavy release schedule includes June Tokyo CPI, which is expected at an unchanged 0.4% y/y pace overall. May Unemployment is forecast at a steady 2.5%. Preliminary May Industrial Production is estimated to have fallen 0.8% versus the 0.5% increase in April, which would cap 3 months of solid gains. June Consumer Confidence should slip to 43.0 from 43.9, while May Housing Starts are set to post a 5.0% y/y contraction versus the prior 0.3% pace previously. May Construction Orders are also on tap.Australia:The Reserve Bank of Australias Head of Payments Policy Tony Richards speaks(Tuesday)at the Australian Business Economists event on cryptocurrencies. The sparse data calendar has May private sector credit onFriday.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.ClickHEREto 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. ClickHEREto 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.
     
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    Date : 26th June 2018.

    MACRO EVENTS & NEWS OF 26th June 2018.


    [​IMG]

    FX News Today

    Asian Market Wrap:
    Treasury yields moved back up from lows, 10-year JGBs are also slightly higher as the stock sell off started to fade during the Asian session. 10-year Treasury yields are now up 0.5 bp on the day at 2.886% and 10-year JGB yields are up 0.7 bp at 0.026%. The escalating round of trade and investment restrictions continue to hang over markets, but at least for now investors seem to be taking a breather. Japanese stock markets reversed early losses as gains in banks offset declines in technology and telecoms. Topix and Nikkei are up 0.25% and 0.12% respectively. The Hang Seng gained 0.21% and while the CSI 300 is still down -0.57%, the Shenzen Comp is up 0.66%. US stock futures are also moving higher after sharp losses on Wall Street yesterday. Oil prices are up and the WTI is trading at USD 68.30 per barrel.

    FX Update:The main currencies are showing little net change ahead of the London interbank open. EURUSD edged a fresh 12-day high, at 1.1721, before ebbing back to near net unchanged levels nearer 1.1700. USDJPY has become directionally stuck near 109.50, above the 2-week low that was pegged yesterday at 109.37. The yens safe-haven bid of yesterday ran out of puff, while BoJ board member Sakurai said, also yesterday, (from Rome) that it remained essential for the central bank to conduct monetary policy under the current framework for the time being. By current framework he meant a short-time interest rate target of -0.1% and pegging of the 10-year JGB yield at near 0% (the curve control policy), alongside its QQE program. The stock market sell-off has abated in Asia. Japans Nikkei 225 managed to close with a fractional 0.2% gain, while S&P 500 futures are showing modest gains. President Trumps trade advisor Navarro said that the Trump administration just wants free, fair, and reciprocal tradethe mission here is to defend our technology and IP.

    Charts of the Day

    Charts of the Day

    [​IMG]

    Main Macro Events Today


    MPC Member Haskel and McCafferty Speech

    • US CB Consumer Confidence Expectations to inch up to 128.5 in June, from 128.0 in May and close to a 17-year high of 130.0 in February. Additionally, S&P Case-Shiller home prices are seen rising to 211.2 in April from 208.0, while the Richmond Fed index may dip to 15 in June from 16.
    • FOMC Member Bostic and Kaplan Speech
    • NZ Trade Balance Expectations is seen narrowing to NZD100 mln in May from NZD263 mln in April.
    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.

    ClickHEREto 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. ClickHEREto 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.
     
  8. HFblogNews

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    Date : 25th July 2018.

    MACRO EVENTS & NEWS OF 25th July 2018.


    [​IMG]

    FX News Today

    Asian Market Wrap: 10-year Treasury yields are down -1.3 bp at 2.936%, 10-year JGB yields are down -1.0 bp at 0.063% and long term yields are also down in Australia and New Zealand. BoJ didn’t scale back its bond purchases at today’s regular operation thus helping to ease concerns of policy tweaks. Hopes of stimulus measures in China continue to battle with trade jitters ahead of Trump’s meeting with European commission President Juncker and Asian markets are mixed, with Chinese underperforming and correcting some of the recent gains. Nikkei is up by 0.41%. US stock futures are heading south, Oil prices are higher and the September future is trading at USD 68.79 on a stock pile decrease.

    FX Update: The Aussie took a dip on Australian CPI data, which came in at 0.4% q/q in Q2, below the median forecast for 0.5%. AUDUSD fell nearly 0.5%, making an intraday low of 0.7392. Elsewhere, the Dollar majors have shown little net change. Commitment in markets has been limited, with strong corporate earnings and China’s course for fiscal stimulus offset by concerns about long-term trade protectionism. The Yuan logged fresh lows after PBoC set the USDCNY reference rate above 6.8. The focus today will fall on the meeting between President Trump and European Commission President Juncker, where few are holding out for any breakthrough on their differences on trade. USDJPY has remained settled in the lower 111.0s, above the 2-week low that was printed on Monday at 110.75, and EURUSD has held in a narrow range in the upper 1.1600s.

    Charts of the Day

    [​IMG]

    Main Macro Events Today
    • German IFO – Expectations – The latest German orders data showed a stronger than expected recovery – this is expected to help stabilize the Ifo reading, although after the revamp on the index to include the services sector, manufacturing doesn’t have quite the dominant role it used to have in the key German business confidence readings. Indeed PMI readings today showed services confidence falling against a pick up in manufacturing confidence. Against that background, the July Ifo is expected to be steady at 101.8.
    • US New Home Sales – Expectations – expected to fall 3.0% in June to 668k, following a 6.7% surge to 689k in May that reflected firm sales in the South.
    • Crude Oil Inventories
    • President Trump and European Commission President Juncker Meeting
    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.
     
  9. HFblogNews

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    Date : 26th July 2018.

    MACRO EVENTS & NEWS OF 26th July 2018.


    [​IMG]

    FX News Today
    European Fixed Income Outlook: 10-year Bund yields jumped higher in opening trade, in catching up with the jump in 10-year Treasury yields late Wednesday following Trump’s agreement with Juncker on trade talks that seemed to suspend the threat of auto-tariffs for now and sparked hopes that a trade war can be avoided. As of 06:22 AM GMT the 10-year Bund yield is up 2.2 bp at 0.414%, and while Treasury yields have pulled back from yesterday’s highs and are down -1.1 bp on the day, 10-year JGB yields are up 1.5 bp at 0.079%. Peripheral bonds are outperforming and European stock futures are rallying, led by a nearly 1.3% rise in GER30 futures. In theory a de-escalation of trade tensions would add to the arguments of the hawks at the ECB council meeting, which adds to pressure on Bunds, but China’s example has shown that the apparent truce may not last long and Draghi is likely to remain cautious.

    FX Update: The Yen has been trading firmer while the Dollar has been steady against most currencies. EURUSD edged out a fresh 4-day high of 1.1743 earlier in Asia, marginally extending the gain seen after the unexpectedly cordial meeting between President Trump and the EU’s Junker. USDJPY has remained heavy as the 10-year JGB yield lifted to a 1-year high of 0.89% amid prevailing speculation that BoJ could scale back its stimulus program, despite concurrent expectations for the central bank to trim inflation forecasts at its policy meeting next week. USDJPY printed a 17-day low of 110.66 late yesterday and has since ebbed back towards 110.70 after a brief rebound stalled near 111.00. The mood in equity markets has turned more negative after Wall Street was boosted in the late session yesterday as the US agreed to hold off on car tariffs. Some corporate earnings and/or circumspect corporate guidance, including from Facebook, General Motors, Ford and Fiat Chrysler, have soured sentiment somewhat, along with what some are calling “Trump fatigue.”

    Charts of the Day

    [​IMG]

    Main Macro Events Today
    • ECB Refinancing Rate – Expectations – No major changes are expected to ECB’s central message from June at today’s policy meeting. Net asset purchases remain on course to be phased out by the end of the year, but Draghi may be under pressure to clarify the commitment to keep rates steady “through the summer” of 2019. The question is whether that excludes a move at the September 2019 meeting, as one ECB member seemed to imply.
    • ECB Press Conference
    • US Durable Goods and Jobless Claims – Expectations – The Durable Goods orders are estimated rising 1.2% in June, after a 0.4% decline in May, and shipments should increase 1.5% with inventories up 0.3%. Initial Jobless claims are estimated to rebound 10k to 217k in the week ended July 21, following a 207k reading in the week of July 14 — a new 48-year low.
    • Tokyo Core CPI – Expectations – July Tokyo CPI is seen at an unchanged 0.6% y/y overall, and a steady 0.7% y/y clip on a core basis.
    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.
     
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    Date : 27th July 2018.

    MACRO EVENTS & NEWS OF 27th July 2018.


    [​IMG]

    FX News Today

    European Market Outlook: German 10-year Bund yields are holding above the 0.4% mark in early trade, despite the weaker than expected French GDP number ahead of the open, but underpinned by a sharp acceleration in German import price inflation to 4.8% y/y. Peripherals are slightly outperforming this morning after Draghi’s dovish leaning take on rates, which counterbalance rising confidence at the central bank that underlying inflation will gradually move towards targets. European Stock futures are mostly higher, in tandem with US futures amid hopes of strong US growth and an easing of trade tensions.Chinese bonds outperformed as local Stock Indices headed south and amid signs that the People Bank of China is endorsing policies to underpin growth as China readies for a protracted trade conflict with the US. Hopes for stronger US growth and a NAFTA deal underpinned sentiment and helped markets to move past yesterday’s tech sell off in the US and Dow Jones (USA30), USA500 and NASDAQ futures are all moving higher. Oil prices are little changed on the day and trading at USD 69.61 per barrel.The calendar still has French consumer confidence numbers but markets will focus on US GDP numbers in the PM session.

    FX Update: The Dollar has been trading with a firming bias as markets anticipate a strong advance US GDP report for Q2, which will be released later today (and which President Trump and members of his administration have been flagging), though trading ranges have remained narrow thus far today. EURUSD edged out a 1-week low of 1.1637, and Cable and AUDUSD respective 3-day lows, of 1.3100 and 0.7372. USDJPY, meanwhile, remained below yesterday’s high at 111.25, though recovered back above 111.0 after a short-lived dip to 110.92. The low in USDJPY was seen as the 10-year JGB yield popped above 0.1% before a special yield-curve control buying operation by BoJ pushed it back below 0.1%. Japanese Tokyo CPI for July rose to 0.9% y/y from 0.6% y/y, above the 0.8% y/y figure expected. The PBoC set the USDCNY reference rate at 6.7942, up from yesterday’s 6.7662 rate.

    Charts of the Day

    [​IMG]


    Main Macro Events Today
    • US GDP & Revised UoM Consumer Sentiment – Expectations – expected to rise at a 4.1% rate in Q2, double the 2.0% pace in Q1, while final Michigan sentiment may remain at 97.1 in July, a 6-month low, compared to a 14-year high of 101.4 in March.
    • US PCE – Expectations – The core y/y PCE core prices expected to stick beyond the Fed’s 2.0% objective for a 3rd month in July, at 2.2%
    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.
     
  12. HFblogNews

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    Date : 30th July 2018.

    MACRO EVENTS & NEWS OF 30th July 2018.


    [​IMG]

    Main Macro Events This Week

    There’s plenty of data this week to provide clues, though tariff and trade uncertainties will continue to muddy the outlooks, especially as they impact growth and inflation dynamics. Meanwhile, central bank policies are in play with FOMC, BoE, and BoJ meetings.

    United States: Traders will be actively monitoring this week’s heavy data slate, including Nonfarm Payrolls, ISM, Vehicle Sales, Trade, the ECI, and Confidence. Additionally, the FOMC meets (Tuesday, Wednesday), but it should be a non-event. There’s also the advent of supply with the August Refunding announcement. The July Employment report (Friday)holds its usual top spot as the indicator of the month. The Unemployment rate is expected to dip back to 3.9%, while earnings should rise 0.3%. Nearly all labor market indicators have boasted of very tight conditions and extreme difficulty in finding qualified workers, which resulted in a huge jump in the labor force in June. The Manufacturing ISM (Wednesday) is projected to fall to 59.0 in July, from June’s 60.2, and down only slightly from the 14-year high of 60.8 from February, and would still reflect a robust rate of expansion. The Non-Manufacturing ISM (Friday) should decline to 58.0 in July, from 59.1 in June, and from the 12-year high of 59.9 in January. July Vehicle Sales (Wednesday) are expected to slow modestly to 17.2 mln from a 17.4 mln June pace.

    The June Trade Deficit (Friday) will get additional scrutiny for indications of trade flows. The deficit is estimated to narrow to an average -$135.7 bln in Q2, down from -$142.3 bln in Q1. Net exports detracted from growth in Q4 and Q1 but there was a strong positive contribution from this component in Q2 GDP. June Personal income and Consumption (Tuesday) should help fine tune Q2 GDP forecasts. The Q2 Employment Cost Index (Tuesday) is estimated rising 0.6%, moderating from a 0.8% gain in Q1. Also, July Consumer Confidence (Tuesday) is expected to rise to 127.0, from a 126.4 level in June. Confidence measures continued to be well-supported by the strength in the economy and the tight labor market.

    Canada: Canada releases its May GDP report (Tuesday) which will be the highlight of the week, though June trade (Friday) will also featuring prominently. The calendar is otherwise rather sparse, with the June industrial product price index (Tuesday) and the July Markit manufacturing PMI (Wednesday) rounding out the docket. GDP is expected to grow 0.2% in May (m/m, sa) after the 0.1% rise in April. Retail sales rebounded in May after a weather driven drop in April, supportive of firm GDP growth. Manufacturing and wholesale shipments also improved. But some operations at some refiners remained shut down for maintenance, which could exert a sizable drag on total GDP growth in May. The trade deficit is seen narrowing to -C$2.3 bln in June from -C$2.8 bln in May. The industrial product price index is seen slipping 0.3% in June (m/m, nsa) after the 1.0% surge in May. The Markit manufacturing PMI for July may show some slippage in activity after climbing 0.9 points to a record high of 57.1 in June, with strength in new orders.

    Europe: This week’s data releases won’t have an immediate impact on the rate outlook as there will be another set of data before the next policy meeting. Still, with the next round of confidence data and preliminary July inflation numbers ahead, the calendar will be important for the medium term outlook. On the whole data expected to confirm the central bank’s central scenario of robust, but slowing growth accompanied by a gradual rise in underlying inflation.

    The preliminary reading for Eurozone Q2 GDP (Tuesday) headlines this week and a marginal acceleration is expected in the quarterly growth rate to 0.5% q/q from 0.4%. The already released French number came in lower than expected and saw an unchanged quarterly rate of 0.2%, but this was partly due to the impact of strike action last quarter. Even if the quarterly growth rate comes in a tad below expectations, Draghi already acknowledged that some of the weakness in the Q1 had spilled over into the second, so modest Q2 growth is already part of ECB’s central scenario.

    The ESI Economic Confidence reading (Monday) is expected to dip to 112.1 from 112.3 in the previous month, with the renewed decline in confidence tying in with slightly weaker PMI and IFO readings. Indeed, the Manufacturing PMI (Wednesday) is expected to be confirmed at 55.1, in line with the preliminary number, but the Services PMI (Friday) is expected at 54.4, which should leave the composite reading at 54.3, unchanged from the preliminary reading and down from 54.9 in June. Confidence is starting to erode, even as data still points to ongoing robust growth. But the survey also reported that price pressures remain elevated. Results in line with the preliminary inflation readings are expected to leave the German HICP print (Monday) unchanged at 2.1%, the French reading (Tuesday) at 2.3% and the Eurozone reading (Tuesday) unchanged at 2.0%. This is already in line with ECB’s upper limit for price stability. Yet, with core inflation still much lower, the elevated headline reading is not sufficient to force Draghi to bring forward the timing for the first rate hike. ECB is getting more confident, though, that underlying inflation is slowly moving higher, especially with improvements in labor markets underpinning wage growth. A further decline in German jobless number (Tuesday) by -4K is anticipated, which would leave the July seasonally adjusted jobless rate unchanged at 5.2%). Eurozone June unemployment meanwhile is also seen unchanged at 8.4%.

    UK: Top of the agenda is the August BoE MPC meeting (announced Thursday), which will come with the publication of the central bank’s latest quarterly inflation report. BoE is anticipated to hike the repo rate by 0.25 bp, which would take it to 0.75%. This would be the 3rd increase within a gradual tightening cycle, and the vote at the 3-member Committee is seen to be 7 to 2. At the same time, BoE should leave the QE total at GBP 435 bln for government bond purchases and GBP 10 bln for corporate bond purchases.

    The data calendar this week is highlighted by monthly BoE Lending data (Monday), Consumer Confidence (Tuesday),and the July PMI surveys (due from Wednesday through to Friday). Of these, Gfk Consumer Confidence for July to hold at -9, the same as in June, while the Manufacturing PMI expected (Wednesday) at 54.0 in the headline after 54.4 in June, and the Services PMI (Friday)at 54.7 after 55.1 in the month prior.

    Japan: There will be a lot of interest in the BoJ meeting (Monday, Tuesday) given recent news reports of a policy tweak to its yield curve management (YCC) strategy. Worries that such a move could be an early warning of a shift away from uber-accommodation saw JGB yield spike higher, which forced BoJ to step in and offer to buy an unlimited amount of paper. BoJ is not expected to suggest a more hawkish stance is on the way. As for data, June Unemployment (Tuesday) is expected steady at 2.2%, with the job offers to seekers ratio unchanged at 1.60. Preliminary June Industrial Production (Tuesday) should fall 1.0% m/m from the previous -0.2% reading. July Consumer Confidence (Tuesday) is forecast little changed at 43.5 from 43.6. Also, June housing starts and construction spending (Tuesday) with the former seen contracting at a 2.0% y/y rate, from 1.3% previously. The final July Manufacturing PMI (Wednesday) is penciled in falling to 52.0 from 53.0. It was 2.1 a year ago. July auto sales are also due Wednesday.

    Australia: The Building approvals (Tuesday) are expected to rise 1.0% in June after the 3.2% drop in May. The Trade Balance (Thursday) is seen improving to A$1.1 bln in June from A$0.8 bln in May. Retail Sales (Friday) are projected to grow 0.4% in June, matching the 0.4% growth pace (m/m, sa) in May. RBA is uncharacteristically silent until the August 7 meeting.

    New Zealand: The Employment report (Wednesday) is expected to show a 0.7% gain in Q2 (q/q, sa) after the 0.6% improvement in Q1. A 4.4% unemployment rate is anticipated, which would match the jobless rate from Q1.

    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.
     
  13. HFblogNews

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    Date : 31st July 2018.

    MACRO EVENTS & NEWS OF 31st July 2018.


    [​IMG]

    FX News Today
    Asian Market Wrap: As of 5:33 GMT, 10-year JGB yields had dropped -3.4 bp to 0.057% after BoJ left policy on hold and pledged to keep rates steady for an “extended period of time”. The forward guidance aside there were also tweaks including more flexibility in bond operations and a reduction in reserves subject to negative interest rates. Meanwhile the inflation forecast was cut. 10-year Treasury yields fell -3.5 bp to 2.939% in a tandem move and long yields also headed south in China. Despite the drop in yields, Topix and Nikkei are down -0.92% and -0.16% respectively, with tech stocks hit by disappointing results from Samsung and a slump in large US names, although US futures are mostly moving higher now. Oil prices are down on the day and the September WTI future is trading at USD 69.84 per barrel.

    FX Update: The Yen looks to be coming back under pressure as the early European interbank crowd start to make their presence felt. USDJPY has lifted back above 111.30, returning focus back on the post-BoJ announcement high that was pegged at 111.43 (which is a 1-week peak). The AUDJPY cross is showing the biggest movement out of the main currencies we keep tabs, with a gain of just over 0.5%. BoJ announced steps to add flexibility in its stimulus program but pledged to keep rates low for an “extended period of time” while trimming inflation forecasts. The main takeaway for markets is that the policy tweak was less significant than a recent Reuters report, which cited unnamed sources had suggested. The tweak, lifted Japanese stocks while driving JGB yields and the Yen lower. Elsewhere, EURUSD ground out a three-session high (by just 1 pip, according to our data), at 1.1719, which has reflected a moderate-but-broad softening bias of the Dollar.

    Charts of the Day

    [​IMG]

    Main Macro Events Today
    • German Labor Data- Expectations – A further decline is expected in German jobless number by -4K, which would leave the July seasonally adjusted jobless rate unchanged at 5.2%.
    • Eurozone Q2 GDP – Expectations – Preliminary Eurozone GDP report for the Q2 is expected to accelerate to 0.5% q/q from 0.4%.
    • Eurozone Unemployment & Prel. CPI – Expectations – Eurozone HICP inflation is expected to remain steady at 2.0% y/y in July, unchanged from the previous month and in line with the central bank’s upper limit for price stability. Eurozone June Unemployment meanwhile is also seen unchanged at 8.4%.
    • US PCE and core, Personal Spending and CB Consumer Confidence – Expectations – June Personal Income and Consumption should help fine tune Q2 GDP forecasts, and expected to rise 0.4%. Also, July Consumer Confidence is expected to rise to 127.0, from a 126.4 level in June. Confidence measures continued to be well-supported by the strength in the economy and the tight labor market.
    • Canada May GDP – Expectations – expected to expand 0.2% in May after the 0.1% gain in April (m/m, sa). Weather knocked retail sales lower in April. A return to more normal weather in May corresponded with a rebound in retail sales, consistent with a strong rebound in total GDP. But downside risk is evident — oil refineries were shutdown in April and May, suggestive of a negative contribution from the mining, oil and gas sub-sectors.
    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.
     
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    Date : 1st August 2018.

    MACRO EVENTS & NEWS OF 1st August 2018.


    [​IMG]

    FX News Today
    Asian Market Wrap: Bond markets are back under pressure and 10-year JGB yields erased yesterday’s decline and jumped 5.8 bp to 0.110% as markets test BoJ’s willingness to let the 10-year climb as high as 0.2%. 10-year Treasury yields are up 1.5 bp at 2.975%. The USD strengthened amid reports that the US is retching up its trade threat to propose raising its planned 10% tariffs on USD 200 bln in Chinese imports to 25%. This followed earlier source stories suggesting that the US and China were trying to restart talks. Concerns about US-China trade relations saw Chinese indices underperforming, with Hang Seng and CSI 300 down by -0.09% and -0.39% respectively, elsewhere markets moved mostly higher, led by Japanese indices, with the Topix rebounding 1.04%, as the Yen weakened against the Dollar and positive results from Apple Inc helped to stabilize tech stocks. US futures are now also mostly up, led by the NASDAQ, but European futures are under pressure in opening trade, as the BoE meeting comes into view amid the wide rise in yields and concerns about US-China trade relations. Oil prices are down on the day and the September WTI future is trading at USD 68.42 per barrel.

    FX Update: The Dollar has traded moderately firmer into the London interbank open, with the USDIndex showing a 0.2% gain at 94.65, a 2-day high. EURUSD concurrently posted a 2-day low, at 1.1675, which is near the midway mark of a broadly sideways range that’s been evolving since early June. USDJPY rose for a second day and printed a 12-day high at 111.98. PBoC set the USDCNY reference rate higher once again, to 6.8293, which is the lowest for the Yuan since May 2017, after 6.8165 yesterday. The Trump administration said that it is thinking of hiking the 10% tariff in place on $200 bln worth of Chinese imports to 25%, which looks like a ploy ahead of a recommencement of trade talks. In data, Japan’s final manufacturing PMI for July was unexpectedly revised higher, to 52.3 from 51.6 reported in the flash estimate, but this still marked a slowing in trend while the pace of expansion in new orders dropped off notably. China’s July manufacturing, meanwhile, undershot expectations at 50.8, down from 51.5, with weakness blamed on the Sino – US trade standoff. Focus today will be on PMI releases in Europe and North America. The Fed will today conclude its 2-day FOMC policy meeting today, which should be a non-event for markets with no changes expected to policy and only minor changes likely on the statement compared to the Fed’s June policy statement.

    Charts of the Day

    [​IMG]

    Main Macro Events Today
    • Eurozone & German Manufacturing PMI – Expectations – The EU Manufacturing PMI is expected to be confirmed at 55.1, in line with the preliminary number, while the German one is expected to remain unchanged at 57.3.
    • UK Manufacturing PMI – Expectations –anticipated at 54.0 in the headline (median 54.2) after 54.4 in June.
    • US ADP Non-Farm Employment Change and ISM Manufacturing PMI – Expectations – The manufacturing ISM is projected to fall to 59.0 in July, from June’s 60.2, and down only slightly from the 14-year high of 60.8 from February, and would still reflect a robust rate of expansion.
    • Canada Manufacturing PMI – Expectations –The Markit manufacturing PMI for July may show some slippage in activity after climbing 0.9 points to a record high of 57.1 in June, with strength in new orders.
    • FOMC Statement and Federal Funds Rate – Fed is widely expected to leave policy unchanged, with the announcement set for today at 18:00 GMT.
    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.

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    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.
     
  15. HFblogNews

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    Date : 2nd August 2018.

    MACRO EVENTS & NEWS OF 2nd August 2018.


    [​IMG]

    FX News Today
    European Fixed Income Outlook: Risk aversion intensified during the Asian session, which gave a fresh boost to global bond markets. 10-year Bund yields fell to a low of 0.4619% in opening trade and is currently down -0.7 bp, versus a -2.2 bp decline in 10-year Treasury yields and a -0.3 bp dip in 10-year JGB yields. Stock markets sold off in Asia, led by mainland Chinese bourses, US stock futures are also heading south and, for now, trade jitters have moved firmly back to the forefront as the earnings season continues. The Fed did the expected yesterday and left rates on hold, while laying the ground for a September move. The focus now turns to BoE, which is expected to hike the repo rate by a further 25 bp today. The calendar also has Eurozone PPI, the UK Construction PMI as well as bond sales in France and Spain.

    FX Update: The Dollar has traded firmer against most currencies and more than reversed initial declines that were seen after the largely as-expected Fed policy announcement yesterday. The upgrade in the Fed’s assessment of the economy to “strong” — from merely “solid” in the June statement — provided reason to buy the Greenback on dips. The USDIndex posted a 3-day higher, while EURUSD concurrent pushed lower, to a 4-day low of 1.1640. USDJPY was once again an exception to the broader Dollar theme, with the pair settling in a narrow range centred around 111.60 so far today, holding well within the bounds of yesterday’s range, though EUR-JPY and most other Yen crosses ebbed to 2- or 3-day lows, reflecting an underlying bid for the Japanese currency. This came concomitantly with the 10-year JGB yield rising to an 18-month high near 0.15%, pushing towards BoJ’s new 0.2% upside limit to its yield-curve control policy, though these moves stalled after BoJ member Amamiya in a speech today, reminded markets that the central bank will buy JGBs if yields rise rapidly, and that “powerful easing” remains appropriate as it will take time for the 2% inflation target to be achieved. Another incentive to buy Yen has been a fresh wobble in global stock markets, with the Trump administration confirming reports from late Tuesday that it is considering rising tariffs on $200 bln worth of Chinese imports, seen as a bargaining ploy by Trump ahead of Washington and Beijing’s return to the negotiations table, though China has returned fire by accusing the US of blackmailing.

    Charts of the Day

    [​IMG]

    Main Macro Events Today
    • UK Construction PMI – Expectations – Is projected to fall to 52.8 in July, from June’s 53.1.
    • BoE Monetary Policy & Rate Decision – Expectations – BoE expected to hike the repo rate by a further 25 bp to 0.75%.
    • BoE Inflation Report – BoE should leave the QE total at GBP 435 bln for government bond purchases and GBP 10 bln for corporate bond purchases
    • BoE Gov. Carney Speech at 11:30 GMT
    • US Unemployment Claims – Expectations – a 220k increase in unemployment claims is expected.
    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.
     
  16. HFblogNews

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    Date : 3rd August 2018.

    MACRO EVENTS & NEWS OF 3rd August 2018.


    [​IMG]

    FX News Today

    Asian Market Wrap: 10-year Treasury yields held slightly below the 3% mark during the Asian session, 10-year JGB yields fell -1.0 bp at 0.103%. BoJ’s verbal intervention and unscheduled offer to buy bonds yesterday seems to have capped investor’s appetite to test the new BoJ tolerance on the 10-year yield for now. Meanwhile, long yields in China moved higher as the Yuan continues to slide. Stocks traded mixed across Asia. The Nikkei is up 0.08%, but the Topix fell -0.45% and is heading for its first weekly loss in a while after disappointing earnings reports. Despite this Japan overtook China as the world’s second largest stock market amid a slump in the Shanghai Composite Index this week. The index lost a further -0.05% so far today, the CSI 300 is down -0.585, as a weaker than expected Caixin/Markit Services PMI added to ongoing trade jitters. The ASX 200 lost 0.11% and US futures are also down.

    FX Action: USDJPY has lifted to the upper 111.0s, reflecting a broadly softer Yen today as global stock markets stabilize. The 10-year JGB yield also fell to 0.103%, aided lower by scheduled BoJ purchases today, with the central bank making clear through its actions over the last day that it won’t be a one-way street to its newly installed 0.2% upper yield limit. BoJ member Amamiya yesterday reminded markets, that the central bank will buy JGBs if yields rise rapidly, and that “powerful easing” remains appropriate as it will take time for the 2% inflation target to be achieved. Taking a step or two back, USDJPY has been trading with little overall direction since early 2017, turning about a 10 big figure range in drawn-out oscillations, pulled lower during risk-off phases in global markets and pulled higher when markets are more focused on underlying fundamentals. The range over this period has been 104.63 to 115.50, and there doesn't look much, at the moment, to suggest there will shift out of this trend. Near-to support is at 111.39-40.

    Charts of the Day

    [​IMG]

    Main Macro Events Today
    • UK Service PMI – Expectations – It is projected at 54.9 after 55.1 in the month prior.
    • EU Service PMI – Expectations – It is expected at 54.4, which should leave the composite reading at 54.3, unchanged from the preliminary reading and down from 54.9 in June.
    • Non-Farm Payrolls – Expectations – The July employment report holds its usual top spot as the indicator of the month. We forecast a 190k increase in jobs as manufacturing remained healthy.
    • Earnings and Unemployment Rate – Expectations – The unemployment rate is expected to dip back to 3.9%, while earnings should rise 0.3%. Nearly all labor market indicators have boasted of very tight conditions and extreme difficulty in finding qualified workers, which resulted in a huge jump in the labor force in June.
    • Canada Trade – Expectations – is expected to narrow to -C$2.3 bln in June from -C$2.8 bln in May. Exports are seen growing 1.5% m/m in June after the 0.1% dip in May. Imports are projected to rise 0.5% in June after the 1.7% bounce in May that followed the 2.8% drop in April.
    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.
     
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  18. HFblogNews

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    Date : 8th August 2018.

    MACRO EVENTS & NEWS OF 8th August 2018.


    [​IMG]

    FX News Today

    Asian market wrap: Long yields moved broadly higher in Asia as stock markets gained. The 10-year JGB yield is up 0.9 bp at 0.111%, while 10-year Treasury yield fells back from highs and is down -0.4 bp at 2.969%. Stock markets started strong after the USA500 closed at the highest level since the Jan 26 peak, which helped investors to look past lingering trade jitters early in the session. Topix and Nikkei have wiped out most of their early gains, however, and as of 05:38 GMT were both up a mere 0.05% as the Yen strengthened against the Dollar. Chinese export growth unexpectedly accelerated and the trade surplus with the US was near record highs, but despite this Chinese markets underperformed and the CSI 300 is down -0.73%. The Hang Seng still managed a 0.50% gain and the ASX rose 0.22%. US futures are trading mixed and Oil prices are slightly higher with the September WTI future trading at USD 69.26 per barrel.

    China’s trade surplus narrowed to $28.1 bln in July from $41.5 bln in June. A modest narrowing was expected. Exports grew 12.2% y/y in July after a revised 11.2% gain (was +11.3%). Imports surged 27.3% y/y in July following the 14.1% gain in June. Exports to the US accounted for 19.3% of total exports in July, down slightly from the 19.7% in June, the largest share of any single country. Meanwhile, the share of imports from the US was 7.2% versus 7.8%, down from 9.2% as recently as December. Japan (9.0%), South Korea (9.7%) and Taiwan (8.5%) are the top three nations in terms of percentage of total imports.

    Charts of the Day

    [​IMG]

    Main Macro Events Today
    • Canadian Building Permits – Expectations – Permits are seen rising 1.0% after a 4.7% bounce in May, new home prices are seen rising 0.1% after the flat reading in May and starts are projected to moderate to a 220.0k pace from the lofty 248.1k growth rate in June.
    • US Crude Oil Inventories – Expectations – at -3.33M barrels this week from 3.8M last week.
    • RBNZ Rate Decision and Press Conference – At the June meeting, RBNZ held rates at 1.75% and opened the door to a rate cut if necessary. It is widely expected that policy will remain into next year.
    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.
     
  19. HFblogNews

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    Date : 9th August 2018.

    MACRO EVENTS & NEWS OF 9th August 2018.


    [​IMG]

    FX News Today

    Asian Market wrap: 10-year Treasury yields are up 0.4 bp at 2.953%, the 10-year JGB yield is up 0.3 bp at 0.101%, while New Zealand yields dropped -7.2 bp after the RBNZ pushed out its forecast for a rate hike by a year as it lowered its growth forecast. Stocks moved mostly higher during the Asian session, with Chinese markets rebounding and the CSI 300 rallying 2.55%, while the Shanghai Comp rose 1.88%, the Shenzen Comp 2.88%. Trade war concerns were put aside for now, despite China’s announcement of 25% on an additional USD 16 bln of US imports, which matched Trump’s latest move in the trade war. Separately the US also announced new sanctions on Russia. Japanese markets underperformed and Topix and Nikkei are down -0.15% and -0.05% respectively, but up from early lows as the yen moved down from overnight highs against the dollar. US futures are moving higher.

    FX Action: The New Zealand Dollar has dropped sharply on the lead of RBNZ’s dovish guidance after the central bank left the official cash rate unchanged at 1.75%. The RBNZ signalled that a rate hike to 2.0% would come by December 2020, compared to its previous guidance for March 2020. In the nearer term, the central bank also stressed a neutral stance, saying that the next move could be a tightening or an easing. This was more dovish than markets had been anticipating, and NZDUSD dove by over 1% in making 0.6664, the lowest level seen since March 2016. NZDJPY declined by a slightly bigger magnitude, while AUDNZD rallied to a new high for the year. RBNZ Governor Orr said before parliament that the central bank is in “watch and wait” mode for now, and said during an interview with Reuters that the principal concern is low business confidence. He also affirmed that global trade tensions were “not good” for the open New Zealand economy, but said that current modelling wasn’t showing much impact yet.

    Charts of the Day

    [​IMG]

    Main Macro Events Today

    • Canadian Housing starts and NHPI – Expectations – New home prices are seen rising 0.1% after the flat reading in May and starts are projected to moderate to a 220.0k pace from the lofty 248.1k growth rate in June.
    • US PPI and Jobless Claims – Expectations – Headline and core PPI are projected to rise 0.1% in July, following a 0.3% increase in both measures in June, while initial jobless claims are estimated to fall 6k to 212k in the week ended August 4, following a 218k reading in the week of July 28.
    • Japanese Preliminar GDP Q2 – It is anticipated at 0.3% q/q from the 0.2% in May. The 0.2% contraction was the first after nine straight quarters of growth and surely was a disappointment for the BoJ, which left its accommodative policy in place last week.
    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.
     
  20. HFblogNews

    HFblogNews Partner Registered

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    Date : 10th August 2018.

    MACRO EVENTS & NEWS OF 10xth August 2018.


    [​IMG]

    FX News Today

    European Fixed Income Outlook: 10-year Bund yields are down -2.0 bp at 0.352% as of 6:09 GMT, versus declines of -1.8 bp and -1.1 bp in Treasury and JGB yields. Bonds are supported by a fresh rise in risk aversion that put pressure on stock markets during the Asian session. European stock futures are heading south in tandem with US futures. The spiral of tariffs is weighing on the global outlook and in Europe Brexit concerns and now also worries that European banks could be hit by the fallout from the crisis in Turkey and the slide in the lira is underpinning the flight to safety. The FT reported that the ECB’s supervisory arm has raised concerns about the exposure of some banks. The calendar is picking up today, with the focus on UK GDP numbers for the second quarter. The UK and France also released production numbers for June, Sweden and Norway have inflation data.

    FX Update: The Dollar has rallied strongly into the London interbank open, driving EURUSD to a 13-month low of 1.1448, Cable to fresh one-year lows under 1.2800 and AUDUSD to three-week lows. The Greenback has also posted gains against most other currencies, most notably the Turkish Lira, which has tumbled to fresh record lows. As the Turkish liracontinues to slide concerns a growing at the ECB’s Single Supervisory Mechanism is raising concerns about the exposure of some of the Eurozone’s biggest lenders to Turkey, including BBVA, UniCredit and BNP Paribas according to a FT report, citing two people familiar with the matter. The risk is that Turkish borrowers may not be hedged against the plunge in the lira and may begin to default on foreign currency loans. Turkish Treasury and Finance Ministry said yesterday that banks and non financial corporations face no fx or liquidity risk. BBVA, UnitCredit and BNP, but also HSBC and ING have banking operations in Turkey.

    USDJPY has lifted out of a two-week low, while Yen crosses have traded lower, partly driven by flagging global equity markets and partly in the wake of above-forecast Japanese Q2 GDP data, which rose 0.5% q/q, above the median forecast for a 0.3% q/q rise. USDJPY has lifted toward 111.0 after earlier printing a two-week low at 110.67. The Dollar’s ascent has been concomitant with a bout of risk aversion on investor concerns about an escalating trade war, and the impact of US sanctions on Turkey and Iran. Beijing today doubled down in the face of domestic criticism about its stance in the trade spate with the US.

    Charts of the Day

    [​IMG]

    Main Macro Events Today
    • UK GDP – Expectations – GDP should come in at 0.4% q/q and to 1.3% y/y from respective Q1 figures of 0.3% q/q and 1.2% y/y.
    • UK Manufacturing and Industrial Production – Expectations –The Industrial production is expected to rise by 0.4% m/m in June, rebounding from the 0.4% contraction of May, with the y/y figure seen at 0.8% after 0.8% y/y growth in May. The Manufacturing production anticipated at 1.0% y/y from 1.1% seen in May.
    • US CPI and Core CPI – A 0.2% increase in the July headline CPI is expected, following a benign 0.1% gain in June. The y/y headline index should be 2.9% in July, steady from June. The core index should also hold steady at 2.3%.
    • Canadian Unemployment data – A 15.0k gain is expected in total jobs during July following the 31.8k gain in June. The unemployment rate is seen slipping to 5.9% after perking up to 6.0% in June from the 40-year low 5.8% in May as more people looked for work in June.
    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

     
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