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  1. #721
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    Date : 3rd August 2018.

    MACRO EVENTS & NEWS OF 3rd August 2018.




    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



    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



    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.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

  2. #722
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    Date : 6th August 2018.

    MACRO EVENTS & NEWS OF 6th August 2018.




    Main Macro Events This Week

    The aftermath of the mixed US July jobs report will be one of many factors resonating with the markets in the days ahead. There were some tall hurdles for investors to leap recently, including firm US Q2 GDP, FOMC, a $1 tln Apple market cap, and the solid underlying employment data, but none have derailed the economic outlook, which remains mostly positive.

    In the meantime, trade and tariffs will continue to dominate the conversation after the US announced plans to raise levies from 10% to 25% on $200 bln of Chinese goods, while China prepped another $60 bln in tariffs. Attention will also remain on earnings, though the pace of their release will be slowing. And though the FOMC, ECB, BoE and BoJ are all out of the way for now, their range of gradualism remains impactful. In Australia-Asia, both the RBA and RBNZ are seen on hold, though the Philippines central bank may hike 50 bps to 4.00%.

    United States: As for the US economic calendar, inflation statistics will be on tap and modest gains are expected in the monthly CPI and PPI readings in July, keeping the y/y readings above the Fed’s 2% target. As for the other data releases, the wholesale inventories are anticipated to be flat in June, but see a small gain for overall business inventories and a more moderate but still-strong increase in June consumer credit after a May surge.

    Specifically, the week will kick off (Tuesday) with updates on JOLTS job openings and consumer credit is expected to rise $16.0 bln in June, following a $24.6 bln surge in May. The MBA mortgage market report will be updated (Wednesday), along with EIA energy inventories. Headline and core PPI are projected to rise 0.1% in July (Thursday), 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. Also on tap (Thursday) is wholesale trade with inventories seen flat in June, as indicated in the advance report, following a 0.4% May gain, while sales are estimated to rise 0.8%, after a 2.5% surge in May. The week rounds out with a forecast of a 0.2% increase in the July headline CPI (Friday), following a benign 0.1% gain in June.

    Canada: Canada’s bond and stock markets are closed Monday for the Civic Holiday with trading resuming Tuesday. The July employment report (Friday) is the star of the show this week. A 25.0k gain is expected in total jobs during July following the 31.8k gain in June. Total average hourly earnings are seen expanding at a 3.9% y/y rate, matching the 3.9% clip in June that was the fastest since 2009. There is a trifecta of housing data this week — June building permits (Wednesday), June new home price index (Thursday) and July housing starts (Thursday). The July Ivey PMI is due Tuesday.

    Europe: ECB is effectively on holiday with no speeches scheduled this week and the next council meeting still more than a month away (September 13). Against that background, the release of the ECB’s latest economic bulletin (Thursday) is unlikely to rock the boat.

    There are plenty of data releases, although most of them second tier, and even the once so-important German manufacturing orders numbers (Monday) no longer have quite the market impact they used to have. The German industrial production data for June (Tuesday) are seen falling -0.6% m/m. More signs then that growth momentum is slowing down, which already has been evident in survey data. At the same time, the German sa trade surplus surplus (Tuesday) is expected to fall back slightly to EUR 20.0 bln with the June numbers from EUR 20.3 bln in May. Even if exports decline as expected, that alone is unlikely to quell criticism that Germany’s economy remains too export oriented and the current account surplus too large. It will, however, add to concerns that the global tide toward protectionism is leaving its mark on the German and Eurozone economies. The data calendar also includes French and Italian production numbers as well as Italian trade, and inflation data from Portugal, Ireland and Greece.

    UK: BoE last week delivered its second 25 bp rate hike of what can be best described as a hyper-gradual tightening cycle. And while signalling that the bias remains for higher rates, it also left markets in little doubt that policy will remain on hold until after the legal Brexit date, of March 29 next year. BoE will remain a little quiet on the Brexit front due to the summer lull in London and Brussels, though negotiations will be continuing from mid August.The calendar this week features the July BRC retail sales report (Tuesday) along with the Q2 GDP, June production, and June trade data (which are all due Friday).

    Japan: The Q2 GDP release (Friday) is awaited for an update on last quarter’s growth. The 0.2% contraction was the first after nine straight quarters of growth and was surely disappointment for BoJ, which left its accommodative policy in place last week. And any trade-related slowdown in China could spell further bad news if a softening in demand erodes exports. Other data this week includes June personal income and PCE (Tuesday) should show the latter contracting at a -2.0% y/y clip from -3.9% y/y previously. Bad weather may have accounted for some of the weaker than expected May result. July bank loan figures are on tap (Wednesday), while the June current account (Thursday) should reveal a narrowing in the surplus to JPY 1,300 bln from 1,983 bln. June machinery orders (Friday) are forecast falling 1.0% m/m after the 3.7% May decline. July PPI (Friday) should warm to 3.0% y/y from 2.8%, while the June tertiary industry index (Friday) is penciled in at -0.1% m/m from 0.1%.

    China: The July trade report (Wednesday) is anxiously awaited given the increase in trade-related frictions. A slight narrowing is looked-for to $40.0 bln after the June balance widened to $41.6 bln from $24.3 bln. The jump in May imports may have been an attempt to beat the tariffs, which went into effect early last month. The markets will look to the July numbers for any signs of trade related slowing. July CPI (Thursday) is estimated at 2.1% y/y from 1.9%, with July PPI (Thursday) expected to cool to 4.4% y/y from 4.7%. July loan growth and new Yuan loans are tentatively due Friday.

    Australia: RBA’s meeting (Tuesday) is the highlight, where no change is expected to the current 1.50% setting for the cash rate. RBA follows up the meeting with the quarterly Statement on Monetary Policy, which will provide updated growth and inflation projections. Governor Lowe speaks on “Demographic Change and Recent Monetary Policy” (Wednesday). Housing investment (Wednesday) is expected to rise 0.5% in June after the 1.1% gain in May.

    New Zealand: RBNZ meeting (Thursday) is the main event. At the June meeting, RBNZ held rates at 1.75% and opened the door to a rate cut if necessary.

    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.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

  3. #723
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    Date : 7th August 2018.

    MACRO EVENTS & NEWS OF 7th August 2018.




    FX News Today

    Asian Market Wrap: 20-year Treasury yields are up 0.4 bp at 2.943%, the 10-year JGB yield underperformed and climbed 1.0 bp to 1.03% as stock markets moved mostly higher across Asia, with trade quieter than usual as the summer lull sets in. Bourses in mainland China outperformed and the CSI 300 rose 1.64%. Nikkei managed gains of 0.65%, despite a stronger Yen, which was underpinned by a Reuters report suggesting BoJ had considered hiking rates this year. Earnings reports and a higher Oil prices had already underpinned a higher close in the US and the positive mood spilled over into the Asian session, although trade jitters and geopolitical concerns continue to lurk in the background. Meanwhile, the ASX underperformed and lost -0.42% despite RBA held its interest rate steady once again while maintaining a tightening bias, although with the inflation forecast cut slightly, RBA is expected to remain on hold well into next year. US stock futures are moving higher and the WTI future is also up with the September contract trading slightly above USD 69 per barrel.

    RBA left the cash rate unchanged but tweaked the inflation outlook. The decision to leave the cash rate at 1.50% had been widely anticipated. On inflation, RBA Governor Lowe’s statement said that CPI is likely to be lower than previously expected in 2018, at 1.75%, below the 2%-3% target band, but at the same time inflation is seen rising more than previously forecast in 2019 and 2020. RBA said that it expects GDP growth to average a little more than 3% in 2018 and 2019. It stated that the unchanged policy is consistent with meeting the CPI target over time. Slower Chinese growth was noted. Market focus will now turn to upcoming release of the Statement on Monetary Policy (SMP), this Friday, for details on the forecast tweaks. The Australian Dollar initially dipped on Lowe’s statement before more than reversing the losses.

    Charts of the Day



    Main Macro Events Today

    * Canadian Ivey PMI – Expectations – It is expected at 64.2, higher from 63.1 in June.

    * US JOLTS & Consumer Credit – Expectations – Job openings anticipated to rise slightly at 6.74M in June, while Consumer credit is expected to rise $16.0 bln in June, following a $24.6 bln surge in May.

    * NZ GDT Price Index

    Support and Resistance levels



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Andria Pichidi
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

  4. #724
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    Date : 8th August 2018.

    MACRO EVENTS & NEWS OF 8th August 2018.




    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



    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



    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.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

  5. #725
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    Date : 9th August 2018.

    MACRO EVENTS & NEWS OF 9th August 2018.




    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



    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.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

  6. #726
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    Date : 10th August 2018.

    MACRO EVENTS & NEWS OF 10xth August 2018.




    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 lira continues 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



    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.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

  7. #727
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    Date : 13th August 2018.

    MACRO EVENTS & NEWS OF 13th August 2018.




    Main Macro Events This Week

    Sanctions, tariffs, and trade frictions have increased market nervousness, but so far there’s been little observable real sector impact. Nevertheless, the meltdown in the Turkish Lira after the US doubled down on tariffs, raised worries over a full blown financial crisis with global repercussions. European markets shuddered over the exposure of its banking sector. And the ensuing drop in equities sent yields sharply lower too. While the fear of contagion will result in nervous trading this week, the problems appear more endemic to Turkey than systemic to the global financial sphere.

    United States: There are plenty of US data reports to go around this week, though it’s concentrated on Wednesday and Thursday, and most should show the economy continues to hum at a solid clip. But the releases may only provide a distraction with the focus still on sanctions and tariffs. July retail sales headlines (Wednesday), which are expected at a 0.3% increase. That would be a positive start to Q3. July industrial production (Wednesday) is projected to rise 0.2%, after rising 0.6% in June. The Empire State index (Wednesday) is estimated to slip to 20.0, from 22.6 in July and compares to an 8-month high of 25.0 in June. The Philly Fed index (Thursday) should decline to 23.0 in August, from 25.7, which would be just off the 6-month average of 25.2.

    Q2 nonfarm productivity (Wednesday) is estimated to climb to a 2.5% pace, from a soft 0.4% reading in Q1. The Q2 gain should be driven by a 5.2% increase in output. However, the underlying trend in productivity remains disappointing and is one of the big mysteries faced by the Fed. Housing starts (Thursday) should rebound 7.4% in July to 1.260 mln, partially reversing a 12.3% drop in June. The weakness in June was in both single- and multi-family starts and we see a rebound in July. Trade prices (Tuesday) should post gains of 0.1% in July for both imports and exports, following respective -0.4% and 0.3% readings in June. In July, we expect an increase in petroleum import prices, but that could be partially outweighed by a stronger Dollar as well as tariffs which may restrain import prices. Import prices ex-petroleum are expected to rise 0.1%. The preliminary August Michigan sentiment reading (Friday) is expected to rise to 98.5, from 97.9 in July.

    Canada: Canada’s data highlight also appears at the end of the week. This time it is CPI (Friday), projected to grow at a 2.5% y/y pace in July, matching the 2.5% y/y clip in June. CPI is seen rising 0.1% on a month comparable basis in July after rising 0.1% m/m in May and June. Bank of Canada projected a run-up to 2.5% CPI growth rates, so the July and June reports will not move the needle on the policy outlook. Meanwhile, June manufacturing shipment values (Thursday) are seen rising 1.0% m/m after the 1.4% gain in May. The calendar also has the July Teranet HPI on Tuesday. Existing home sales for July are expected Wednesday. The ADP employment figures for July will be released on Thursday. There is nothing from Bank of Canada this week.

    Europe: This week’s calendar focuses mainly on Q2 growth indicators and final July inflation readings, which are unlikely to hold many surprises. German ZEW investor confidence, though, will be watched very carefully, especially against the background of growing concerns over the exposure of European banks to Turkey, which is sliding deeper into crisis. Coupled with lingering concerns about Italy’s political situation, this is threatening to further add to a widening of spreads and will spark fears of a flaring up of the debt crisis.

    The first release of German Q2 GDP (Tuesday) is expected to show a slight acceleration, while Eurozone Q2 GDP (Tuesday) is likely to be confirmed at 0.3% q/q. The recovery is ticking along, but the balance of risks is starting to tip to the downside with Turkey now adding to bank concerns and volatility on bond markets. With risk aversion spiking higher on Friday, the timing of the responses to the latest ZEW Investor Confidence survey (Tuesday) will play a larger than usual role. The busy calendar also has Eurozone production and trade data for June, which will be overshadowed, however, by the 2nd reading of Q2 GDP numbers.

    UK: The calendar is highlighted by the release of monthly labor data covering June and July (Tuesday), July inflation figures (Wednesday) and July retail sales (Thursday). The labor report is expected to show unemployment holding unchanged at 4.2% in June, and average household earnings to come in with 2.5% y/y and 2.7% y/y growth in both the including- and ex-bonus figures, which would match the respective growth rates that were seen in the month prior. Steady wage growth, which has been running above inflation for some months now, was one of the justifications BoE gave behind its decision to tighten monetary policy this month. The inflation is anticipated to remain steady at 2.4% y/y in July. As for retail sales, a rebound of 0.2% m/m is expected after the 0.5% contraction in June, which had been an unexpectedly weak figure, blamed on hot weather and the distraction of the World Cup for a good portion of the population.

    Japan: The Revised June industrial production is due on Tuesday. Preliminary production dropped 2.1% in June, and slid 1.2% y/y. The July trade report (Thursday) is expected to see the previous JPY 720.8 bln surplus flip to a JPY 100.0 bln deficit.

    China: Chinese July industrial production (Tuesday) is forecast to rise to 6.2% y/y from 6.0%, while July retail sales (Tuesday) should increase to a 9.2% y/y pace from 9.0% in June. July fixed investment (Tuesday) is estimated slowing slightly to 5.9% y/y from 6.0%.

    Australia: The July employment (Thursday) is expected to rise 25.0k after the 50.9k bounce in June. The unemployment rate is seen at 5.4%, matching the rate in June. The wage price index (Wednesday) is seen expanding 0.5% (q/q, sa) in Q2 after the matching the 0.5% rise in Q1. The index is expected to grow at a 2.0% y/y pace in Q2 from 2.1% in Q1. RBA governor Lowe (Friday) appears before the House of Representatives’ Standing Committee on Economics. Assistant Governor (Economic) Ellis speaks at the Australian National University (Friday). RBA’s Deputy Head of Payments Policy Department Harris (Thursday) participates in a panel discussion at the Risk Australia 2018 Conference.

    New Zealand: In New Zealand, PPI-output and PPI-input for Q2 are due Friday.

    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.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

  8. #728
    HFblogNews is offline Senior Member
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    Date : 14th August 2018.

    MACRO EVENTS & NEWS OF 14th August 2018.




    FX News Today

    European Fixed Income Outlook: German 10-year Bund yields jumped higher from the off and as of 06:19 GMT, are up 1.8 bp at 0.326%, underperforming Treasuries and JGBs, which showed rates rising 1.6 bp and 1.0 bp respectively. Stronger than expected growth numbers at the start of the session added pressure on Bunds, after core yields already started to back up again as stock markets stabilized and Turkey jitters receded somewhat. Japanese markets bounced back overnight and European stock futures are moving higher alongside US futures. Bundesbank’s Wuermeling suggested one should not “over dramatize” the risk of Turkey contagion, adding that ECB didn’t see the need for a risk meeting so far. As long as there is not a further dramatic escalation, the turbulence is not expected to derail ECB’s course towards a phasing out of QE. Already released German July HICP was confirmed at 2.1% y/y. Still to come are German ZEW confidence, the 2nd reading of Q2 Eurozone GDP and UK labour market data.

    FX Update: Safe haven positioning were unwound some today, which saw the Dollar and Yen traded softer against most other currencies after Ankara managed to halt the rout of the Lira, which in turn brought a reprieve in still-fragile global markets. Most stock markets found a footing in Asia, and USA500 futures are showing a 0.3% gain, reversing most of yesterday’s regular-session’s losses, though Chinese markets were an exception, declining after a batch of economic data showed the economy to have hit a rough patch, while investment growth was shown to have reached a record low. EURUSD settled around the 1.1400 mark, above yesterday’s 13-month low at 1.1365. USDJPY recouped back toward the 111.0 level after posting a seven-week low at 110.11 yesterday. PBoC set the reference rate for USDCNY at 6.8695, versus 6.8629 yesterday. China’s statistics bureau said that the weaker Yuan, which has declined the most against the Dollar since April on record (in the era of the prevailing regime), and perhaps aiming to counter the wrath of President Trump, was a reflection of the Fed’s tightening cycle. AUDUSD firmed above 0.7770, finding a footing after 3 consecutive days of declines. Australia data showing business confidence rising provided the Aussie a supporting influence.

    Charts of the Day



    Main Macro Events Today

    * UK Average Earnings Index – Expectations – Average Household Earnings expected to come in with 2.5% y/y and 2.7% y/y growth in both the including- and ex-bonus figures, which would match the respective growth rates that were seen in the month prior.

    * UK Unemployment Rate – Expectations – The labour report expected to show unemployment holding unchanged at 4.2% in June.

    * Eurozone GDP – Expectations – Eurozone Q2 GDP is likely to be confirmed at 0.3% q/q.

    * German ZEW Economic Sentiment – Expectations – A slight improvement is anticipated in the headline number to -24.0, from -24.7 in the previous month.

    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.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

  9. #729
    HFblogNews is offline Senior Member
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    Date : 15th August 2018.

    MACRO EVENTS & NEWS OF 15th August 2018.




    FX News Today

    European Fixed Income Outlook: 10-year Bund yields are down -0.6 bp in early trade at 0.318%, underperforming versus Treasuries and JGBs which lost -1.4 bp and -1.1 bp respectively as risk aversion picked up again during the Asian session. Turkey slapped additional tax on American goods rather than trying to defuse the situation and the central bank is still shying away from a rate hike to stabilize the currency. Stocks were under pressure in Japan and China and US futures are also heading south, but European futures are moving higher in opening trade after strong growth data out of the Eurozone yesterday. Today’s calendar focuses on UK inflation data and events include a German 30-year auction. Italy is closed for a public holiday.

    FX Update: The Dollar has posted broad gains amid a backdrop of rekindling risk aversion. Turkey’s Erdogan escalated the confrontation with the US by announcing tariffs on US cars, alcohol and cigarettes. Chinese stocks came under pressure again, and PBoC set the USDCNY reference rate at 6.8856, the highest since May 2017, up from yesterday’s fixing at 6.8695. Both the Bank of Indonesia and HKMA have intervened to support their respective currencies. The USDIndex posted a 14-month high at 96.87 while EURUSD concurrently printed a 13-month low at 1.1316. Cable traded below 1.2700 for the first time since June 2017, and AUDUSD fell to its lowest levels since January 2017. USDJPY posted an eight-day high of 111.43 amid a broader bid for the Dollar, though a weakening in stock markets in Asia capped gains, which stimulated Yen safe-haven demand.

    Charts of the Day



    Main Macro Events Today

    * UK Consumer Price Index – Expectations – CPI expected to remain steady at 2.4% y/y in July.

    * US Retail Sales – Expectations – July retail sales headlines expected at a 0.3% increase, with a 0.5% ex-auto gain. That would be a positive start to Q3.

    * US Industrial Production and Empire Index- Expectations – July industrial production is projected to rise 0.2%, after rising 0.6% in June. The Empire State index is estimated to slip to 20.0, from 22.6 in July and compares to an 8-month high of 25.0 in June.

    Support and Resistance Level



    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.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

  10. #730
    HFblogNews is offline Senior Member
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    Date : 16th August 2018.

    MACRO EVENTS & NEWS OF 16th August 2018.




    FX News Today

    Asian Market Wrap: 10-year Treasury yields are up 1.8 bp at 2.880%, 10-year JGBs up 0.7 bp at 0.094% as of 05:35GMT, as stocks move up from early lows on trade talk hopes. Asian sold off early in the session amid concerns over global growth and particularly China, after a Sino-related tech slump saw Wall Street heading south yesterday. Reports that China and the US are preparing a low level round helped to put a floor under markets, however, and mainland China bourses managed to move higher, while other indices are up from early lows. Topix and Nikkei are down -0.78% and -0.21% respectively. The Hang Seng is still down -0.395, but CSI 300 and Shanghai Comp are now up 0.61% and -0.20% respectively. The Kospi slumped -0.87% after returning from holiday and the ASX 200 is down -0.035. Meanwhile, US futures are moving higher with Chinese markets. Oil prices are slightly up from lows and the September US oil future is trading at USD 65.10 per barrel.

    FX Update: The Dollar and the Yen have both weakened, giving back recent gains amid an improvement in risk appetite. The US and China have agreed on a new round of trade talks, while Turkey has managed to halt the rout of the Lira and secure major investments from Qatar and China’s Alibaba. The USDIndex (DXY) is showing a 0.3% decline, at 96.44, heading into the London interbank open, while EURUSD is concurrently showing a 0.3% gain, earlier printing a two-session high of 1.1397, putting in some space from yesterday’s 13-month low at 1.1316. USDJPY has settled in the upper 110.00s after printing a low in Tokyo at 110.46. AUDJPY, viewed as a forex market proxy on risk appetite in global markets, is showing the biggest move with just over a 0.5% gain. Over the near-term, the Dollar and the Yen will likely remain apt to weaken before settling as developments on the latest phase of Sino-US negotiations are awaited.

    Charts of the Day



    Main Macro Events Today

    * UK Retail Sales – expected to grow by 3% YoY in July.

    * US Housing Starts – expected to increase to 1.26 mln in July, compared to 1.17 mln in June, with building permits also expected to increase breaking the 1.3 mln barrier.

    * US Initial Jobless Claims – stabilisation to approximately 215,000 slightly up from 213,000 from last week. Continued jobless claims are expected to decrease slightly to 1.75 mln from 1.755 mln last week.

    Support and Resistance Level



    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Click HERE to access the full HotForex Economic calendar.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

    Click HERE to READ more Market news.

    Dr Nektarios Michail
    Market Analyst
    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

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