Analyst Articles – Forex News 24 |
- Bitcoin (BTC) Price Probing a Fresh 13-Month High
- Bears Need a Break Below the Weekly Support
- Crude Oil Prices May Fall as Soft US Data Compounds Risk Aversion
- EURUSD May Fall on US Retail, Sentiment Data. GBP Eyeing Carney
- Asian Stocks Mixed As US, Iran Trade Accusations Over Tanker Attacks
- Will EURUSD Draw Some of the Trade War Winds from the Dow?
- Aussie Dollar Resumes Downtrend, Eyes 0.67
- USDCAD Rate Rebound Fizzles Ahead of US Retail Sales Report
- AUDCAD Eyes October Low, Crude Oil Prices Rise on US-Iran Tension
- Trump Trade War Faces Domestic Pressure from US Business
| Bitcoin (BTC) Price Probing a Fresh 13-Month High Posted: 14 Jun 2019 03:57 AM PDT Hits: 10 Bitcoin (BTC) Price Outlook, Chart and Analysis:
IG Client Sentiment Datashows how retail are positioned in a variety of cryptocurrencies. See how daily and weekly positioning can affect our trading bias. Bitcoin (BTC) trade data shows 80.1% of traders are net-long, a strong contrarian bearish signal. However, recent daily and weekly changes in sentiment suggest a stronger bearish trading bias. A Guide to Day Trading Bitcoin and Other Cryptocurrencies. Bitcoin (BTC) Pushing Higher One Step at a TimeBitcoin continues to stair-step higher and is closing in on an old resistance zone ($8,388 – $8,481) which may slow its recent rally but is unlikely to trigger a major reversal. We noted earlier this week that while upside momentum was slowing, borne out by the last two daily candles, support continues to build with higher lows printed in the last six trading sessions. Bitcoin (BTC) Price – Bullish Momentum Slows, Support Strengthens The latest push higher needs to break and close the zone mentioned earlier, leaving the May 30 high at $9,080 an achievable target in the short- to medium-term. Above here, Bitcoin is back at levels last seen in early-May last year. Above here, an old swing-high at $9.957 comes back into focus, just ahead of the psychological $10,000 level, a price that will likely spark a flurry of positive crypto-currency headlines. We mentioned in our report earlier this week that the recent double-lows either side of $7,450 need to hold to keep medium-term bullish momentum intact. This remains the case. Bitcoin (BTC) Daily Price Chart (October 2018 – June 14, 2019)Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide. What is your view on Bitcoin (BTC) – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1. http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| Bears Need a Break Below the Weekly Support Posted: 14 Jun 2019 02:44 AM PDT Hits: 6 GBP/JPY Price Outlook, Charts and Analysis
Did we get it right with our GBP and JPY forecasts? Find out more for free from our Q2 GBP and JPY and main currencies forecasts GBP/JPY – Bearish Move DevelopingOn Jun 11, GBP/JPY corrected higher after carving out a higher low at 137.48. The pair faced important resistance levels and the correction move stopped on Jun 11. The Relative Strength Index (RSI) has been pointing lower since June 11 emphasizing the bears clear intention to resume the sell-off. Having trouble with your trading strategy?Here's the #1 Mistake That Traders Make GBP/JPY DAILY PRICE CHART (FEB 21, 2019 – JUnE 14, 2019) Zoomed InGBP/JPY DAILY PRICE CHART (NOV 10, 2016 – JUnE 14, 2019) Zoomed OUT
A close look at the daily chart shows GBP/JPY looking to resume its bearish move, eyeing to break below the zone at 136.40 – 136.55. Therefore, a close below this zone could kick start a bearish bias towards 133.40. The weekly support at 134.92 and 134.20 need to be watched along the way. If the price fails to close below the zone mentioned above, a rally could start towards 139.00. However, daily resistances at 137.48 and the vicinity at 138.36- 46 would be worth monitoring. Just getting started?See our Beginners' Guide for FX traders GBP/JPY Four-HOUR PRICE CHART (May 29, 2019- JUN 14, 2019)
Looking at the four-hour chart, we notice GBP/JPY testing the Jun 6 low. Next trough to test is the June 4 low, therefore if the pair breaks below 136.55 the bearish momentum may resume eyeing 136.00. Although, the weekly support at 136.40 needs to be cleared first. See the chart for the key levels if the selloff continues below 136.00. It's worth noting that GBP/JPY rallied yesterday and stopped at 137.78. Any break above this threshold might send the price towards the June 11 peak (weekly high) at 138.32. However, the resistance at 138.24 (Jun 22 high) need to be kept in focus. Written By: Mahmoud Alkudsi Please feel free to contact me on Twitter: @Malkudsi 2019-06-14 09:35:00 Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| Crude Oil Prices May Fall as Soft US Data Compounds Risk Aversion Posted: 14 Jun 2019 01:31 AM PDT Hits: 14 CRUDE OIL & GOLD TALKING POINTS:
Crude oil prices jumped upward amid reports of an attack on two tankers in the Gulf of Oman. Speaking later in the day, US Secretary of State Mike Pompeo blamed the incident on Iran, amplifying concerns about on-coming escalation that might lead to supply disruption. Gold prices rose as the uneasy mood weighed on bond yields, boosting the relative appeal of non-interest-bearing alternatives. SOFT US RETAIL SALES, CONSUMER CONFIDENCE DATA THREATENS CRUDE OILUS retail sales data as well as the University of Michigan gauge of consumer confidence are in focus from here. Receipts are seen rising 0.6 percent in May – rebounding after April's 0.2 percent contraction – while sentiment pulls back a bit from an eight-month high. US data outcomes have tended to underperform relative to forecasts recently, opening the door for further disappointment. Soft results might bolster the markets' confidence in the dramatic dovish shift in Fed policy bets since early March, but scope for further progress in that direction seems limited. Investors already expect at least two cuts before year-end and seem increasingly confident in a third, even as the central bank's quantitative tightening (QT) effort is wound down. A still more dramatic stimulus injection seems far-fetched. With that in mind, the markets may focus on the negative implications of soggy US data on global growth prospects and thereby broad-based sentiment. That might see cycle-sensitive crude oil prices pressured alongside stocks. Indeed, the WTI benchmark is already drifting lower alongside bellwether S&P 500 futures in early European trade. The implications for gold prices may be a bit more difficult to tease out. Yields are likely to fall further in a risk-off environment, offering support. That could be offset if the US Dollar manages to capitalize on haven demand now that investors' Fed outlook is about as dovish as it will probably get in the near term. The stronger Greenback would undermine the appeal of anti-fiat assets, capping the yellow metal's gains. Did we get it right with our crude oil and gold forecasts? Get them here to find out! GOLD TECHNICAL ANALYSISGold prices continue to push against resistance marked by February's swing highat 1346.75. Breaking above it on a daily closing basis opens the door to test a trend-defining barrier in the 1357.50-66.06 area. Alternatively, a turn below support in the 1323.40-26.30 zone targets the 1303.70-09.12 region. CRUDE OIL TECHNICAL ANALYSISCrude oil prices continue to idle at support in the 50.31-51.33 area. A daily close below that sets the stage to challenge a potent barrier in place since September 2016 in the 42.05-43.00 zone. Alternatively, a rebound above the upper layer of near-term resistance at 55.75 exposes the 57.24-88 region next.
COMMODITY TRADING RESOURCES— Written by Ilya Spivak, Currency Strategist for DailyFX.com To contact Ilya, use the comments section below or @IlyaSpivak on Twitter http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| EURUSD May Fall on US Retail, Sentiment Data. GBP Eyeing Carney Posted: 13 Jun 2019 11:39 PM PDT Hits: 13 TALKING POINTS – EURUSD FORECAST, US ECONOMIC DATA, GBPUSD, MARKEY CARNEY, BOE
See our free guide to learn how to use economic news in your trading strategy! APAC RECAPAsia Pacific markets found themselves shaken after a series risk-aversion-inducing catalysts crossed the wires within a relatively short time frame. New Zealand PMI data showed a significantly smaller expansion compared to April and sent NZDUSD lower which was later followed by a decline in AUDUSD and Australian government bond yields. The latter appears to have come as a result of increased speculation of another rate cut by the RBA. GROWING RISK AVERSION FUELING DEMAND FOR LIQUIDITY OVER RETURN?Growing risk aversion in financial markets may distort typical reactions FX markets have to data releases. In the US, retail sales and sentiment data may push EURUSD higher if both publications show a weaker reading. An underperformance in the data would not be surprising considering that the recent publication of CPI showed that momentum for price growth is slowing. In times of risk aversion, investors typically put a premium on liquidity over returns and frequently flock to anti-risk assets like the US Dollar and Treasuries. In this case, if economic data shows weakness, it will reinforce the narrative of the doves that looser credit conditions are becoming increasingly necessary. Usually, this would result in a weaker Greenback and lead to an exodus of capital in USD as we've seen recently seen. However, since the economic circumstances appear more dire now relative to before, a dovish shift in the Fed may not actually result in a weaker Dollar. This is because market participants may question why the central bank is cutting rates. The inevitable conclusion is that prevailing economic conditions are bad enough that policymakers felt compelled to lower interest rates. In times of crisis, where do investors typically flock? To haven assets! The quintessential one of which is the US Dollar. Meanwhile, GBP will be closely watching Bank of England Governor Mark Carney's speech in London. If any messages within the commentary allude to a deterioration in the economic outlook, it could amplify the effect of risk aversion and cause even more capital to fly into the arms of the US Dollar. GBPUSD may find itself under additional pressure as the race for Prime Minister in the UK continues. CHART OF THE DAY: NZDUSD, AUDUSD, AUSTRALIAN BOND YIELDS SUFFER FX TRADING RESOURCES— Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| Asian Stocks Mixed As US, Iran Trade Accusations Over Tanker Attacks Posted: 13 Jun 2019 10:25 PM PDT Hits: 9 Asian Stocks Talking Points:
Find out what retail foreign exchange investors make of your favorite currency's chances right now at the DailyFX Sentiment Page Asia Pacific stock markets put in a mixed showing to end the week with overall risk appetite capped by Thursday's attacks on two oil tankers in the Gulf of Oman. The US State Department has pinned the blame for them squarely in Iran, while stressing the need for diplomacy. For its part Tehran has denied involvement. The story has already seen oil prices rise, with the Dow gaining just over 100 points on Thursday as the energy sector gained. International benchmark Brent rather drifted through the Asian session, coming off its Thursday highs but not by very much. There are signs that it is edging up again as the European open approaches. The Nikkei 225 was up 0.2% in the middle of the Tokyo afternoon with Sydney's ASX up by 0.1%. Chinese stocks were lower both in Hong Kong and Shanghai. Mainboards there slipped back after scoring initial gains. Investors there faced the aftermath of this week's extraordinary anti-extradition-law protests in Hong Kong which reportedly left more than 80 people injured. Obviously much market emphasis is now on next week's monetary policy meeting of the US Federal Reserve. The central bank meets on Wednesday and, while no changes are expected, the market is now looking for an interest rate cut in July. The extent to which any commentary supports this thesis will probably be crucial across markets. The US Dollar was a little higher against major rivals and on-track for a weekly gain, however. The Australian and New Zealand Dollars were pressured by lower bond yields after some miserable Purchasing Managers Index numbers out of the latter's homeland. It's clear that the Fed is far from the only central bank thought highly likely to cut interest rates in the near future. NZD/USD has now retraced its steps back into the old daily-chart trading range which last endured between mid-May and the start of June. The pair is also very close to its former long downtrend line, with a weekly close below that likely to bring the year's lows back into very close consideration. The rest of the trading day will offer investors plenty to chew over, with US retail sales figures for May coming up, along with the University of Michigan's venerable consumer sentiment snapshot. Resources for TradersWhether you're new to trading or an old hand DailyFX has plenty of resources to help you. There's our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There's also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they're all free. — Written by David Cottle, DailyFX Research Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch! http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| Will EURUSD Draw Some of the Trade War Winds from the Dow? Posted: 13 Jun 2019 09:49 PM PDT Hits: 8 Trade War Talking Points:
Do you trade on fundamental themes or event risk? See what live events we will cover on DailyFX ahead (uch as the US sentiment live data event) as well as our regular webinar series meant to help you hone your trading. The Outcry to Resolve the US-China Trade Wars Grows to a Dull RoarThere are a handful of systemic risks that have kept command over headlines and the performance of speculative markets these past months, and another eclipse of the conversation by trade wars should surprise no one. There was no material update to the mix of economy-restricting measures between the world’s two largest economies this past session. The US maintains a 25 percent tariff on $200 billion in Chinese imports alongside its Huawei ban – with the explicit threat that the net of goods subject to tax could expand to another $300 billion in goods to encompass the entirety of the country’s trade if the G-20 meeting on June 28-29 does not end satisfactorily for the US. On the other side of the skirmish line, China has $60 billion in US products facing the same tax rate while it holds out more opaque threats to use rare earth materials as ammunition and has said it is building its own blacklist of US tech companies. USDCNH is a good reflection of the mood between the two, but the exchange rate is just as distorted as the perspective. Chart of USDCNH (Daily) While we have seen a recent freeze in the escalation of actions between the United States and China, that does not mean that the aggregate impact from the economic sanctions thus far have been unremarkable. Far from it. While not every indicator that crosses the wires these past months has registered escalating damage to the global economy, the hits are more frequent and more costly. This is where the lowered GDP and PMI figures comes into play. We don’t have those more targeted readings this week, but the Japanese 2Q Business Sentient Index and Business Round Table CEO forecast survey released recently speak to fear of struggle and intent to throttle business – a direct economic curb. More interesting this past session, there were a few key groups listing trade wars as the top risk – including the IMF and Swiss National Bank. However, the most remarkable warning came from a letter to the White House sent by a group of over 600 US corporations and trade associations which made explicit that trade wars were a burden to the US economy and called on President Trump to find an end to the economic fight. Given that the President recently said that he was holding up the US-China deal and made confusing threats to resuscitate the Mexico tariff, hope for relief may be misplaced. Chart of USDMXN (Daily)
Another Threat to Bring Europe Into the Trade War Raises EURUSD RiskEURUSD is already the most liquid currency pair in the FX market – and is in turn a candidate for the most liquid asset in the financial system – but it is also increasingly an important crossroad for many of the most important fundamental themes facing the markets today. Reports crossed the wires Thursday that President Trump was considering yet another trade war move on Europe. According to the news, the Administration was considering sanctions against Germany – the Euro-area’s largest economic member – for its long-in-development Nord Stream 2 natural gas line with Russia. Trump has grown more comfortable using the unilateral economic axe, but we have seen similar threats recently that have yet to yield action. Against the Euro, the most prominent ultimatums from Washington were the possibility of a hefty tariff on all auto imports (a decision delayed out to end of October), a more than $11 billion tax meant as retaliation for Airbus subsidies and a lose reprisal for Harley-Davidson’s flagging revenues. It is difficult to weigh the practical risk between a number of unfulfilled threats and the Trump administration’s willingness to act. Don’t right off the risk. Chart of EURUSD and CNHUSD (Daily)
If you are watching EURUSD, we can’t simply afford to monitor the unexpected risks. There are plenty of practical fundamental winds that are already blowing in the FX market. On the Dollar’s side, there is in fact an excess of important themes to compete for control over market bearing. The misplaced strength afforded to a currency behind the genesis of trade wars has transitioned into a liability for the state of uncertainty it creates. Growth is another undercurrent that bodes poorly for the US currency. Friday’s offering of the consumer confidence survey (University of Michigan) and retail sales will reflect on that theme directly. Monetary policy is perhaps the most loaded of the systemic themes, but we are clearly in a holding pattern until the FOMC rate decision next Wednesday. Anticipation won’t quiet speculative tides however. Dovish expectations through September and December have surged to fresh extremes through this past session. Chart of DXY Dollar Index with Forecast of Fed Cuts Through Sept in Blue and Dec in Red (Daily)
The Dollar isn’t the only currency with its own fundamental influence to exert. For the Euro’s part, trade wars and economic health are critical influences to keep track of. That said, domestic issues arising from the European Central Bank’s (ECB) policy intent and fissures in financial policy stability are the type of systemic development that could fundamentally alter the standing of the world’s second most liquid currency. ECB President Draghi has been surprisingly vocal for a central banker due to step down in a matter of months, but that seems necessary given the state of affairs in the market. The tension generated from Italy on the other hand is far from reasonable pressure. The Eurozone finance ministers would not let up on the profligate member, but it is unclear what ultimatums will be put into place – whether a year-long allowance like they offered in December or a 3 billion euro fine which was floated recently. What is important here for FX traders is the recognition that a tentative – but concerted – effort by Italy to withdrawal from Euro use could send shockwaves through the financial system (casting a shadow over the second most liquid currency can do that). Chart of Equally-Weighted Euro Index (Daily)
Aussie and Swiss Franc, Crude and GoldIf you’re looking for fundamentally-driven market moves outside of the systemic themes, there are a few assets of particular interest to monitor. In the FX market, the Australian Dollar can certainly draw significant market-moving lines to the trade wars that impact China. That can prove an interesting caveat to price action as AUDUSD doesn’t have the artificial cap that USDCNH faces (7.0000). Furthermore, event risk like the consumer inflation expectations and employment statistics update are good for volatility and an economic course correction if monetary policy and economic anticipation align. As for the Swiss Franc, the connection is usually its reflection of the more liquid Euro. That said, the Swiss National Bank (SNB) is committed to matching – and exceeding – the ECB’s efforts. Whether or not they are successful is a separate matter. Chart of EURAUD and Consecutive Candle (Daily)
For those assets that play a dual role as both a risk metric as well as economic metronome, there are few more appropriate pace setters than crude oil. The commodity experienced a jump Thursday that finally found enough supply-side influence to roused bulls to make a serious support of the 51.50 level. OPEC reported that its output dropped 236,000 barrels per day (bpd) this past month to drop to a five year low 29.88 mln bpd. Perhaps if they didn’t also downgrade demand projections by 1.14 mln bpd, this would have prompted a bigger market move. The real flux on the day Thursday were the reports that two commercial oil tankers had been attacked in the Straight of Hormuz. That said, demand is still my principle concern for trend generation behind this commodity, and the outlook for global growth is not exactly encouraging. Chart of Crude Oil (Daily)
Gold is another commodity that offers fundamental insight that reaches beyond its own technical boarders and local headlines. The precious metal is still bound to the benchmark currency (the US Dollar), but both commodity and currency were heading higher this past session. The charge is found through a modest sense of risk aversion that is complicated by the questions over financial stability brought about by systemic issues like trade wars. We have seen the market return to its highest close since April of last year, but the real decisions are made when there is an earnest go at 1,360. If risk aversion intensifies and the the central banks attempt to mop up the mess – and especially if they fail in their endeavors – gold will find itself one of the very few outlets that can service global investors’ needs for safety. Chart of Gold (Weekly)
If you want to download my Manic-Crisis calendar, you can find the updated file here. 2019-06-14 02:49:00 Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| Aussie Dollar Resumes Downtrend, Eyes 0.67 Posted: 13 Jun 2019 09:13 PM PDT Hits: 7 AUDUSD CHART ANALYSIS: BEARISH
Join our live RBA rate decision webinar to see how it will impact trading AUDUSD! The Australian Dollar appears to have confirmed that the recent upswing against its US counterpart was corrective in the context of a larger downtrend, as expected. Prices dropped after putting in a demonstrative Bearish Engulfing candlestick pattern on a retest of support-turned-resistance and broke rising countertrend support set from mid-May, seemingly confirming the reversal. Near-term support is now in the 0.6827-65 zone, marked by the latest swing bottom as well as the January 2016 low. Breaking below that on daily closing basis seems likely to open the door for a test of the 2019 spike low at 0.6744. Immediate resistance remains in the 0.6978-0.7021 zone, with a reversal back above setting the stage for a challenge of the downward trend in place since early December 2018. Zooming out to the weekly chart hints that a still-deeper downturn might be in the cards. That the latest swing lower was triggered squarely at the underside of a completed Descending Triangle chart pattern appears to reinforce the setup's validity, and thereby its broader implications. A measured-move objective derived from a conservative assessment of its widest point implies downward progression to test the 0.67 figure.
AUDUSD TRADING RESOURCES— Written by Ilya Spivak, Currency Strategist for DailyFX.com To contact Ilya, use the comments section below or @IlyaSpivak on Twitter http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| USDCAD Rate Rebound Fizzles Ahead of US Retail Sales Report Posted: 13 Jun 2019 06:47 PM PDT Hits: 9 Canadian Dollar Talking PointsThe recent rebound in USDCAD appears to be stalling ahead of the US Retail Sales report, and the exchange rate stands at risk of giving back the advance from the monthly-low (1.3238) as it fails to extend the series of higher highs and lows from earlier this week. USDCAD Rate Rebound Fizzles Ahead of US Retail Sales ReportUSDCAD attempts to retrace the sharp decline following the US Non-Farm Payrolls (NFP) report, but the rebound may prove to be short-lived as attention turns to the Federal Reserve interest rate decision on June 19. It remains to be seen if the US Retail Sales report will keep USDCAD afloat as private-sector spending is anticipated to increase 0.7% in May, and a positive development may encourage the Federal Open Market Committee (FOMC) to retain the current policy as "participants generally agreed that a patient approach to determining future adjustments to the target range for the federal funds rate remained appropriate." However, mixed data prints coming out of the economy may push the FOMC to alter the forward guidance for monetary policy as the U. of Michigan Confidence survey is expected to show a dip in household sentiment, and the central bank may show a greater willingness to switch gears later this year as President Donald Trump tweets that "the Fed interest rate way too high."
In turn, Chairman Jerome Powell and Co. may implement material changes to the Summary of Economic Projections (SEP), and the fresh updates may produce headwinds for the US Dollar should Fed officials forecast a lower trajectory for the benchmark interest rate. With that said, Fed Fund futures may continue to reflect overwhelming expectations for a September rate-cut, and the current environment may keep USDCAD as the exchange rate snaps the upward trend from earlier this year. Sign up and join DailyFX Currency Strategist David Song LIVE for an opportunity to discuss potential trade setups. USD/CAD Rate Daily Chart
Additional Trading ResourcesAre you looking to improve your trading approach? Review the 'Traits of a Successful Trader' series on how to effectively use leverage along with other best practices that any trader can follow. Want to know what other currency pairs the DailyFX team is watching? Download and review the Top Trading Opportunities for 2019. — Written by David Song, Currency Strategist Follow me on Twitter at @DavidJSong. 2019-06-14 01:25:00 Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| AUDCAD Eyes October Low, Crude Oil Prices Rise on US-Iran Tension Posted: 13 Jun 2019 04:50 PM PDT Hits: 12 Asia Pacific Market Open Talking Points
Trade all the major global economic data live as it populates in the economic calendar and follow the live coverage for key events listed in the DailyFX Webinars. We'd love to have you along. The Canadian Dollar outperformed against most of its major peers on Thursday as crude oil prices spiked earlier in the day after reports crossed the wires that two tankers were attacked near the Strait of Hormuz. This fueled concerns about rising geopolitical tension in the Middle East and later in the day, US Secretary of State Mike Pompeo blamed Iran for the attacks. The commodity is a key source of income for Canada and can have knock-on impacts on the economy which can impact BoC monetary policy. Hence the close relationship between CAD and crude oil. However, sentiment faded later in the day as US front-end government bond yields fell and the commodity saw a pullback, diminishing some of the gains seen in the Canadian Dollar. AUDCAD Technical AnalysisTaking a closer look at AUDCAD, especially after a lackluster Australian jobs report, revealed that the pair closed at its lowest since late October and in-line with one of my top trading opportunities for this year. Ahead does lie critical support levels via the 2013 and 2015 lows between 0.9152 and 0.9183 as positive RSI divergence warns of fading downside momentum. As such, AUDCAD bears ought to proceed with caution. AUDCAD Daily Chart*Charts Created in TradingView Sentiment wobbled on Thursday as Wall Street struggled to find significant upside momentum, spending most of the day oscillating. The rise in local front-end government bond prices occurred as demand picked up and yields fell at auctions for 4-week, 8-week and 30-year Treasuries. As with other recent auctions, this appears to reflect rising concerns of a US recession which may benefit the US Dollar ahead. Asia Pacific Friday SessionThe anti-risk Japanese Yen did well on Thursday and could be looking to Friday's Asia Pacific trading session for follow-through. S&P 500 futures are little changed however, hinting at a mixed open to come in regional bourses. The Australian Dollar will be eyeing a batch of Chinese retail sales and industrial production outcomes for the period of May. FX Trading Resources— Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| Trump Trade War Faces Domestic Pressure from US Business Posted: 13 Jun 2019 03:30 PM PDT Hits: 11 TALKING POINTS – US BUSINESSES URGE TRUMP TO END US-CHINA TRADE WAR
See our free guide to learn how to use economic news in your trading strategy! Today, over 600 hundred companies signed a letter sent to the White House urging US President Donald Trump to end the trade war with China. Relations between Beijing and Washington have grown more hostile as each side continues to test the resolve of the other. China's Ministry of Commerce recently stated that they are willing to "fight to the end" if negotiations continue to sour. Here is an excerpt from the letter: "Tariffs are taxes paid directly by U.S. companies, including those listed below— not China. According to Trade Partnership Worldwide LLC, 25 percent tariffs on an additional $300 billion in imports (combined with the impact of already implemented tariffs and retaliation) would result in the loss of more than 2 million U.S. jobs, add more than $2,000 in costs for the average American family of four and reduce the value of U.S. GDP by 1.0 percent". A key takeaway here is the notion that the President's tactics have not earned him support abroad and domestic discontent is eroding the credibility of his campaign to redesign the 21st century trading paradigm. Furthermore, farmers – a key constituency and a critical demographic to please ahead of the 2020 election – are also expressing dissatisfaction. One of the ending lines of the letter says: "An escalated trade war is not in the country's best interest, and both sides will lose". Indeed, with international and now domestic pressure mounting Washington, it may force the White House to adjust its approach to China and could lead to softer rhetoric and a greater chance of reaching a deal – or at least a ceasefire – with Beijing. If any form of the latter is achieved, sentiment-linked assets like equities, the New Zealand and Australian Dollars may rally at the expense of anti-risk currencies such as the US Dollar, Japanese Yen and Swiss Franc. Crude oil prices would also likely be granted a boon from an uplifted spirit in risk appetite considering the commodity's fickle nature of frequently moving in tandem with oscillations in sentiment. However, the President's tactics suggest that any compromise will be viewed as capitulation – a less-than-optimal image to have ahead of the US Presidential election. He may also say to these companies what he said to Apple Inc in September 2018: Make your products in the United States instead of China. Start building new plants now. Exciting! S&P 500 Futures Suffer as Relations Between Beijing and Washington Take a Turn for the Worse FX TRADING RESOURCES — Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
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