HFM Posted September 23, 2020 Share Posted September 23, 2020 Date : 23rd September 2020. FX Update – September 23 – Day 3 of Dollar Gains. EURUSD, H1 The Dollar is up for a third consecutive day, even managing gains against the Yen as global stock markets lifted out of recent correction lows. Solid US data yesterday, including the August existing home sales and the September Richmond Fed index, have been in the mix, alongside a flurry of dovish signalling from central bank policymakers. BoJ Governor Kuroda earlier stressed that the Fed’s recent policy regime change is similar to the stance the Japanese central bank took in 2016, which he described as an overshooting strategy. He said that the BoJ won’t hesitate to take additional easing steps if necessary. Policymakers at the ECB, BoE and RBA have been similarly ramping up dovish signalling in the wake of the Fed’s move in late August, not wanting to see their respective currencies rise against the Dollar in these disinflationary times. ECB’s Mersch is the latest, cited by Bloomberg today saying that it is obvious that the exchange rate influences inflation. Expectations for the RBA to cut rates again are also cementing, which has been concomitant with recent declines in iron ore and other commodity prices. The flagging pace in global economic growth is marring the outlook for resources, which is the prime influencer of the export-oriented Australian economy’s terms of trade. Westpac analysts are expecting an easing at the October 6th RBA policy review, while a NAB research note is calling for a rate cut at either the October or November meetings. AUDUSD dropped 0.6% in posting a six-week low at 0.7113, extending losses from last week’s highs around 0.7350. AUDJPY fell by 0.5%, foraying further into 10-week low terrain. The USD Index (DXY) printed an eight-week high at 94.24, while EURUSD lifted to an eight-week low at 1.1673. USD-PY edged above 105.00. Cable hit a two-month low at 1.2681, marking a 6% decline from the high seen in early September. The Pound also saw moderate declines versus the Euro and Yen, among other currencies, amid a bearish mix of new Covid restrictions in the UK, the upcoming expiry of the government’s wage support scheme, and Brexit endgame uncertainties. 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. Stuart Cowell Head 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. Link to comment Share on other sites More sharing options...
HFM Posted September 24, 2020 Share Posted September 24, 2020 Date : 24th September 2020. US Claims Disappoint, again & Equities under pressure. USA500, H1 & Daily A 4,000 initial claims rise to 870,000 in the third week of September followed a -27,000 drop to 866,000 in the BLS survey week, leaving a disappointing rise as we now log the fourth week with the new additive seasonal factors. We saw a -167,000 continuing claims drop to a modestly higher than expected 12.58 million in the BLS survey week, after a downward bump that left a -797,000 decline to 12.747 million in the first week of September. The insured jobless rate fell to 8.6% from 8.7%, versus a 17.1% peak in the second week of May and a 1.2% cycle-low for nearly two years ending in mid-March. Initial claims are averaging 875,000 thus far in September, versus higher prior averages of 992,000 in August and 1.34 million in July. The 866,000 BLS survey week reading undershot prior BLS survey week readings of 1.104 million in August and 1.422 million in July. We saw a 4.442 million peak in April and a 203,000 prior cycle-low in April of 2019. We now have a continuing claims drop of -1.912 million between the August and September BLS survey weeks, though this measure is clouded by the seasonal adjustment switch that left one procedure for the August figure and another for September. We saw prior declines of -2.459 million in August, -2.28 million in July, and -1.61 million in June. September nonfarm payroll consensus remains around 900,000, though today’s data adds some risk to the forecasts and could be amended into next week. The US Equity markets, which have seen Futures under pressure all day following yesterday’s significant declines (Nasdaq closed down by over 3% and the S&P 500 lost over 2.3%) are weaker again, with the USA500 trading at 3230 in early trades, 30 points above the key 3200 support level, but still 130 points above the vital 200-day moving average at 3,100. 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. Stuart Cowell Head 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. Link to comment Share on other sites More sharing options...
broforex51 Posted September 28, 2020 Share Posted September 28, 2020 AUDJPY today as we see here, the trend is still strong bearish, so you should open sell position, you can open sell position now at 74.262 with potential target up to 74.037 Link to comment Share on other sites More sharing options...
xtreamforex26 Posted September 28, 2020 Share Posted September 28, 2020 Technical Analysis of EUR/ USD CAD EUR/USD Turns Bearish Seems on Weekly Indicators The EUR/USD pair could extend and decline at the level 1.77% to the crucial weekly chart to the indicators to the reporting bearish conditions. The MACD gauges trend seems the strength and trend changes that crossed to the below zero levels that indicating the Bullish to Bearish trend change. It will turn negative for the first time. Move Further from the 5 and 10-week simple moving average have produced the bearish crossover. The pair will likely to test to the resistance turned the support of the level at 1.1495. The EUR/USD is currently traded at level 1.1632 that declined to 1.1872 to 1.1612 to the last week. The pair was traded close above the level high at the level 1.1872 invalidate the bearish bias. USD/CAD Price on Double Tops Above the Level 1.3400 The USD/USD seems traded at the level bids 1.3400 up to 0.07% during the Monday Trading Session. The loonie pair as of late took a U-abandon 21 and 50-HMA conversion, which thus takes information from MACD to claim the earlier week's highs set apart on Thursday and Friday. Thinking about the quality of the bullish force, not to overlook solid drawback underpins, the statement is probably going to break 1.3418/20 opposition and focus on July 30 top close to the level 1.3460. Notwithstanding, USD/CAD upside past-1.3460 will be addressed by the June 23 low at the level of 1.3485 and the 1.3500 limits. Unexpectedly, a drawback break of the previously mentioned HMAs close to the level 1.3380/85 will take a lay on the upward inclining pattern line from September 22, at 1.3350 at this point. For a place where USD/CAD costs slip below at the level 1.3350, another helpline from September 18, at present around 1.3310, will be the key. To know more visit https://xtreamforex.com/market-news/ Link to comment Share on other sites More sharing options...
HFM Posted September 30, 2020 Share Posted September 30, 2020 Date : 30th September 2020. ADP, NFP and the change in their correlation. Today ADP reported a 749k sure in private payroll employment in September, almost double the 400k expectation, after an upwardly revised 481k (was 428k) increase in August. There were solid gains across industries. The service sector added another 552k jobs, with the goods sector adding 196k. Manufacturing jobs were up a hefty 130k. In services, trade/transport posted a big 186k gain, while leisure/hospitality jobs increased 92k, and education/health employment was up 90k. Professional/business services added 78k jobs. The ADP gains have massively undershot improvement in BLS payrolls and other labor market indicators since the growth rebound began, suggesting that this could continue despite this month’s solid gain. However please note that during the pandemic year ADP has done an awful job as an indicator of NFP number. In general after since May we have seen the absence of correlation between the ADP employment change figures with Nonfarm Payrolls. The September Nonfarm Payroll gain is seen at 900k, as most measures of output extended their rebounds in September. Initial claims have slowly tightened, and we saw another big -1,912k continuing claims plunge between the August and September BLS survey weeks. The jobless rate is expected to hold steady from 8.4%, alongside a 0.8% September hours-worked increase with a 34.6 workweek and hourly earnings to be unchanged, following August’s 0.4% rise, as the measure gives back more of the 4.7% April pop with the shift in the composition of jobs back toward lower-paid workers. The nonfarm payroll forecast assumes a 1,075k private jobs increase. Seasonal Trends and Weather For disruptions to employment from weather as gauged in the household survey, the biggest disruptions occur in the winter months generally with the average peaking in February. There is an additional climb through the late-summer months due to disruptive hurricanes in some years. This September has seen hurricane activity but they’ve been less disruptive than some of the major events in years past, leaving modest upside weather-risk for payrolls. Of course, any weather related disruptions will be eclipsed by COVID-19. Hourly Earnings As stated above, a flat figure for September average hourly earnings is anticipated, after gains of 0.4% in August and 0.2% in July, but drops of -1.3% in June and -1.1% in May, as we further unwind the 4.7% April surge. Job losses have been skewed toward lower paid retail, leisure and hospitality workers, and this prompted the April spike in average hourly earnings that is now being reversed. A 4.6% y/y increase in September from 4.7% in August is forecasted. Continuing and Initial Claims Continuing claims fell -1,912k between the September and August BLS survey weeks, after a drop of -2,459k between August and July, and a -2,280k drop between June and July survey. The economy is unwinding the 24,912k continuing claims peak in the second week of May. Initial claims fell to 866k in the September BLS survey week from 1,104k in the August survey week, and 1,422k in the July survey week. The September initial claims anticipate to average at 870k from 992k in August. Conclusion Employment should rose further with output in September, despite delayed stimulus and ongoing disruptions in the re-opening process. The September hours-worked is expected to increase of 0.8%, with a 34.6 workweek, while hourly earnings remain flat. The jobless rate should hold steady at 8.4%, leaving the rate below the 9.98% cycle-high from the last recession in October of 2009. 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. Link to comment Share on other sites More sharing options...
HFM Posted October 1, 2020 Share Posted October 1, 2020 Date : 1st October 2020. Brexit headlines driving the markets. The UK currency took a sharp rotation lower on Brexit related developments. Weighing were reports that the EU and UK are struggling on key issues in trade negotiations, and with the European Commission president von de Leyen announcing that the EU has taken the first step in a legal infringement procedure against the UK in relation to the controversial Internal Market Bill. However later on an FT report cited UK officials with inside knowledge saying that the EU and UK have reached a compromise on the state aid issue, contrary to an earlier Reuters article, which had cited EU sources. Fishing rights remains a sticking point, apparently. The EU recovery fund is likely to be delayed just as nearly all European countries are ratcheting up Covid restrictions. And this comes amid the ECB campaign of verbal intervention to keep a lid on the Euro. Similar messaging from other central banks, including the BoE and RBA, has also contributed to an overall weakening in the strongly bearish Dollar bias that forex market participants had until recently. The rhetorical interjections countervail the impact of the Fed’s regime shift to a lower-for-longer stance on interest rates. In Europe, positive Covid test results have continued to soar in most countries. Covid hospitalisations and mortality, while bumping higher over the last week in many countries, still remain at basement levels relative to the March/April peak. The ratio between Covid-caused death and flu- and pneumonia-caused death also remains low, again contrasting markedly to the March/April situation. Nonetheless, the trend in most countries in Europe is for tighter restrictions and more localized lockdowns, which should limit the upside scope of the Euro. EURUSD earlier posted a 9-day high at 1.1769. EURJPY gained, too, with both the Dollar and Yen having softened amid a backdrop of mostly higher global stock markets. EURGBP dove about 90 pips in returning to levels around 0.9065-75. Heads of state will bring the issue to a resolution at the October 15th-16th EU summit. The odds for a deal being struck now appear much greater, though how extensive any deal will be remains uncertain, and there is a risk that the UK will see a downward jolt in its terms of trade when it leaves the EU’s single market on January 1. European stock markets have pared early gains. The UK100 outperformed as the Pound sold off and the UK Gilt future is currently down by 0.2%, while the GER30 underperformed and lost most of its early gains amid the rise in local virus case numbers and with Bayer AG under pressure after a profit warning. This comes in contrast to the European final manufacturing PMIs, which confirmed the improvement in sentiment. The UKGilt has had a key downside move that is potentially outlook changing, breaking the 200-Day MA and resuming the 2-month downtrend. The UKGilt is heading towards the support band 135.30/135.00. The rebound from 134.20 to 136.98 last week is now the medium term resistance area. Given the deterioration in momentum we have seen, with RSI into the 40s and MACD lines sustaining a move into negative area, the outlook is becoming increasingly worrying for the bulls. If this 200-Day MA at 136 continues to be seen as a sell zone, the downside pressure will grow. Initial Support, at 50% Retracement level on year’s rally and 50-week SMA, is a key level. If this is breached on a closing basis it would open 132.80-132.00 which is the year’s low area, however a strong obstacle will be the 61.8% fib level at 134.00. How the market reacts around 134.00 would then be the key as to whether this is a near term upswing or something far more bearish. Generally though investor sentiment was boosted by headlines suggesting progress on the next US stimulus package, and US futures are up 0.8 to 1.3%, with the USA100 outperforming. The vote on the Democratic proposal was delayed to give negotiators more time to come up with a compromise deal as Fed officials warn against delaying a new aid deal until next year. 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. Link to comment Share on other sites More sharing options...
HFM Posted October 2, 2020 Share Posted October 2, 2020 Date : 2nd October 2020. FX Update October 2 – Ahead of NFP. USDJPY, H1 The Yen has rallied versus other currencies amid a pronounced risk-off positioning theme in global markets on news that President Trump, along with the First Lady and White House public relations counsellor, have tested positive for Covid. S&P 500 E-minis are 1.4% lower, and Asian & European stock markets have also taken a hit. USDJPY dove by over 0.5% in pegging a low at 104.94. EURJPY fell to a four-day low and the high beta AUDJPY cross plummeted by over 1% to two-day lows under 75.00. Following the positive Covid test news, Trump’s age and health is an added item on a growing worry list. Trump is now self-isolating, and at the least his pre-election campaigning will be greatly curtailed. The next Presidential debate is scheduled for October 15. CDC data shows a 94.6% survival rate for people over 70, though presumably this is better for people in their early-to-mid 70s, like Trump, as the data will be skewed by people over 80, who are at greater risk. Among other currencies, EURUSD dipped to a two-day low at 1.1694 before rebounding quite sharply to a 1.1738 peak. Cable saw a similar price action, bouncing out of a low at 1.2838 and rallying 100+ pips to 1.2952 following news of a meeting between UK PM Johnson and European Commission President Von der Leyen scheduled for tomorrow. AUDUSD posted a two-day low at 0.7132. USDCAD lifted back above 1.3300 and matched yesterday’s peak at 1.3329. In Japan, August unemployment came in at 3.0%, matching expectations and having no impact. Chinese and South Korean markets remained closed. Ahead, the flash September estimate of Eurozone CPI is up, where we expect a -0.4% y/y outcome after -0.2% y/y in the prior month. In the US, the September payrolls report is up. We expect it to show a continued rebound as workers have returned to work, but there will still be a net drop in employment for 2020 overall. Political negotiations on a new fiscal relief package in the US remain ongoing. The mood music has improved somewhat, with some Republicans eager to strike a deal with the Democrats before the November 3 elections. The Covid situation in Europe remains a concern, with the new case rate high and new restrictions in one form or another being introduced seemingly daily in many countries. 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. Stuart Cowell Head 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. Link to comment Share on other sites More sharing options...
HFM Posted October 5, 2020 Share Posted October 5, 2020 Date : 5th October 2020. Events to Look Out for This Week. The announcement on Friday that US President Trump, the First Lady and White House counsel Hope Hicks had all tested Covid positive rattled market sentiment. This comes on top of many European countries renewing travel restrictions and quarantine measures and introducing new virus measures and regional lockdowns. Globally, concerns that the still fragile recovery will be disrupted have left markets looking for additional monetary and fiscal support, with the latter once again lagging while central banks are keeping their options open. Hence, the week’s focus will remain on the health of the President and wider virus issues, and concerns the recovery is losing momentum. The US Presidential Elections, surprisingly, may take a back seat, while from a data perspective, the FOMC minutes and RBA rate statements are the week’s top releases. Monday – 05 October 2020 Retail Sales (EUR, GMT 09:00) – Retail sales across Europe are expected to show a bounce back during August as many markets opened and in limited numbers, Europeans went on holiday. MoM growth is expected to turn positive (0.9%) from -1.3% in July whilst the YoY figure is expected to rise to 0.6% from 0.4% in July. ISM Services PMI (USD, GMT 14:00) – Services data, the bedrock of high income countries’ economic data, for the US is expected to slip slightly this month to 56.0 from the August reading of 56.9 and the July reading of 58.1. Tuesday – 06 October 2020 Trade Balance (AUD, GMT 00:30) – Tuesday’s import/export and trade balance data will likely show a continued decline, with Australia’s second city Melbourne (and the wider state of Victoria) starting to emerge from a second strict lockdown. Event of the Week – RBA Interest Rate Decision & Statement (AUD, GMT 03:30) No change in interest rates from the RBA is expected and as with other central banks the mantra of lower for longer will persist. What will be of interest is the Bank’s perspective on moving lower still and the possibility of negative interest rates before year end. Wednesday – 07 October 2020 Event of the Week II – FOMC Minutes – (USD, GMT 18:00) – The minutes from the Sept 15-16 meeting are likely to show no major surprises and confirm the shift to average inflation targeting. The reference to the measures taken to contain the virus continued to have substantial impacts on economic activity. The view on inflation is that the negative effects from COVID-19 on aggregate demand have more than offset upward price pressures. Thursday – 08 October 2020 Initial Jobless Claims (USD, GMT 12:30) – Last week there was better than expected numbers for the first time in 3 weeks with claims coming in at 837K, some 13k under 850k expectations. Today a further fall to 825k could be expected. BOC’s Governor Macklem (CAD, GMT 12:30) – The Governor is expected to re-iterate the Banks view of aggressive stimulus posture, reiterating forward guidance and the continuation of its QE program until “the recovery is well underway.” Friday – 09 October 2020 GDP (GBP, GMT 06:00) – Following the unexpectedly higher than forecast rise in July to 6.6%, monthly UK GDP is expected to fall under 6% to 5.7% for August. Employment Change & Unemployment Rate (CAD, GMT 12:30) – Little change is expected in this month’s employment data, which is expected to show a 15.6K decline from 245.8k last time to 230.2k today. The Canadian unemployment rate is expected to remain steady at 10.2%. 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. Stuart Cowell 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. Link to comment Share on other sites More sharing options...
xtreamforex26 Posted October 6, 2020 Share Posted October 6, 2020 Technical Analysis of Bitcoin & Ethereum Bitcoin Screams Sell and Ethereum Eyeing on Breakout Cusps The Cryptocurrency Markets shook this week after releasing the news that surrounding the largest trading derivatives. Bitcoin tumbles to the level at $10,400 that recovering slightly at the level of $10,600. As we know that in the previous day the US President Donald Trump tested Positive from COVID-19 that lose the cryptocurrency dipped at the level to $10,400. Ethereum investigated levels below $320 twice in September. Different endeavors were made to pull the crypto above $400, however, little advancement was made above the level $390. Additionally, for as far back as about fourteen days, the cost has stayed topped under at the level $360. Yearn. Finance, gotten an enormous beating a week ago, losing over 38% of its worth. Be that as it may, the losses were not novel to the decentralized money (Defi) token since driving advanced resources, for example, Bitcoin and Ethereum jumped to $10,400 and $335, separately. Link to comment Share on other sites More sharing options...
HFM Posted October 6, 2020 Share Posted October 6, 2020 Date : 6th October 2020. US Trade Deficit at 14-year high. The US trade deficit widened almost exactly as expected to a 14-year high $67.1 bln that slightly beat the $67.0 bln gap in July of 2008, leaving the largest gap since the $68.3 bln figure in August of 2006. We saw prior gaps of $63.4 (was $63.6) bln in July, $53.5 bln in June, and $57.9 bln in May. Though the deficit rise tracked estimates, it incorporated small but offsetting downside surprises for both exports and imports. Exports rose 2.2% to $171.9 bln and imports were up 3.2% to $239.0 bln, following respective July gains of 8.3% to $168.3 bln (was $168.1 bln) and 10.9% to $231.7 bln. Excluding petroleum, the deficit expanded to -$68.6 bln from -$65.4 bln (was -$65.7 bln). The “real” August goods balance widened to -$92.3 bln versus July’s -$91.1 bln (was -$90.5 bln). We saw a slight August narrowing in the bilateral trade deficit between the US and China to -$30 bln from -$32 bln, though both figures reflect elevated import levels as suppliers respond to the intense inventory liquidation through the three quarters through to Q2. The data track robust bilateral export data from China through August. Foreign trade was impacted harder by shutdowns than the other GDP components, and activity hit a bottom in May, versus lows for most other measures in April. We had a much bigger hit for exports than imports, and the rebound for service exports has been disappointingly small. Expectations for GDP growth now fall in the 31.5-33.0% range for Q3 and 5.5-6.0% in Q4, following the record -31.4% in Q2. The Dollar was steady after the trade report, which showed the deficit widening more than consensus forecasts. EURUSD remains near two-week plus highs, topping at 1.1807, just above its 50-day moving average, while USDJPY sits near mid-range around 105.60. 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. Stuart Cowell Head 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. Link to comment Share on other sites More sharing options...
HFM Posted October 7, 2020 Share Posted October 7, 2020 Date : 7th October 2020. Tonight October 7 – Pence & Harris – Does it matter? In short yes. Tonight (October 7) is the vice-presidential, one and only, head to head debate and after last week’s bad tempered, chaotic first presidential debate expectations were limited. Indeed little attention or significance is traditionally given the V-P debate, however, the debate has taken on a new significance following the news flow in the last few days. “Expect the unexpected” is a bit of a cliché and one often used to describe the first four years of the Trump presidency but the last few days have been just that. Tonight, it is the turn of Vice-president Mike Pence and the lady who would like his job, Democratic vice-presidential nominee Kamala Harris to debate the issues that matter most to Americans and to their respective chances of success on November 3rd. The ages of their immediate bosses (Trump is 74 and Biden 77, making them 78 and 81 respectively in 2024) is always on the radar, a risk factor that has heightened interest following the President’s Covid-19 hospitalization. The reins of power pass to the vice-president if the President becomes incapacitated, for any reason, for any period of time. Pence, 61, and Ms. Harris, 55 are renowned for their debating and oratory skills and tonight’s debate should be much more mannered and coherent, even with its added significance. Five key areas of interest tonight could be: COVID-19 – The president’s handling of the crisis and his very own infection is likely to be a point of sparky debate and hold attention of the live audience in the University of Utah as well as the millions tuning-in on TV. Pence will clearly defend the administration’s handling of the crisis (after all he chairs the White House task force) and the Presidents infection and apparent rapid recovery. Ms. Harris, chosen by Biden, particularly for her “attack-dog” style will be promoting the inverse story of needless deaths and incompetency by the administration. The Economy – Old, safe ground and simple messages from Pence reiterating the “best ever” economy “making America great again” pre-pandemic. The economy is safe in the president’s hands and taxes will be reduced. How Pence deals with the sudden ending of additional fiscal support talks by the President earlier today is a curved-ball he will have to deal with. Ms. Harris on the other hand will point to the millions of jobless Americans, the preference the administration has shown to big business and the imbalances and stuttering recovery of the US economy. Other hot topics which are polarizing the electorate include the state and future direction of Healthcare, Law & Order (including Policing, the Gun lobbies and the summer of disorder) and the Supreme Court and the likely nomination of Amy Coney Barrett to the supreme court to replace Ruth Bader Ginsberg. Foreign policy, Trade and the Environment are likely to receive less airtime. If the Polls are to be believed the Democrats could not only win the Presidency, but the Senate too, but with over three weeks to polling day, the outcome is still far from certain. The key swing states and potentially, just a few voters within those swing states, could determine the result on November 3. 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. Stuart Cowell Head 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. Link to comment Share on other sites More sharing options...
HFM Posted October 8, 2020 Share Posted October 8, 2020 Date : 8th October 2020. FX Update – October 8 – Post Schnabel, Bailey, Jordan & Pre-Claims & Macklem. EURUSD, H1 EURUSD has settled to near net unchanged levels near 1.1750 after ebbing back from a 1.1781 high, which was set in early London trading. Dollar weakness had been a driver earlier, and the currency has seen recouped lost ground. Uncertainties prevail about next month’s US election and the risk that it will be contested, about the Brexit endgame, and, increasingly, about new Covid restrictions and lockdowns in North America and, more especially, Europe. More dovish remarks have come from ECB policymakers, who have recently made known their concern about the recent rise in the euro’s effective exchange rate, given its tightening impact on real interest rates at a time when new Covid restrictions are crimping economic activity. ECB’s Schnabel also warned about credit cycle risks further down the track, especially when support measures are withdrawn, which could equally be applied to the UK, the US and many other economies given the large debt levels that have been built up over the last decade. Overall, there is no strong directional bias at play in EURUSD at the current juncture. New positive Covid test outcomes continue to shoot up in Europe, but the rate of serious illness (as measured by ICU admissions) and mortality rates remain at low levels, although bumping up in many countries, as indeed are the same metrics for other respiratory disease in the usual seasonal pattern. Tentatively, there is little sign as yet that another big wave impact on public health, as witnessed in March and April in Europe, is happening. But most governments are nervous and firmly set on pursuing virus-suppression-until-vaccine strategies. Northern states in the US, as in Canada, are also seeing spikes in positive Covid tests, which is also leading to the implementation of new restrictions. Weekly jobless claims data and Fed speakers will feature later in the US along with a keynote speech from the BOC’s Macklem. USDCAD posted a 17-day low at 1.3228, weighed on by a combo of US Dollar weakness and a 1% rise in oil prices. On Canada’s domestic front, rising positive Covid tests are becoming a problem as they are leading to economically disruptive restrictions. Canada’s September employment report is up on Friday, where expectations are for a 100,000 headline gain after the 245,800 rise in August, with unemployment seen ebbing to 10.0% from 10.2%. 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. Stuart Cowell Head 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. Link to comment Share on other sites More sharing options...
HFM Posted October 9, 2020 Share Posted October 9, 2020 Date : 9th October 2020. The last leg of EU-UK trade talks OR Not? The outlook isn’t good for either the UK or Europe given the surge in new Covid cases. New restrictions, from travel limitations to pub closures to local lockdowns, are being introduced almost daily in the UK, and this will have a negative impact on economic activity. The government’s furlough scheme is being withdrawn this month, and being replaced by a narrower, more targeted wage protection scheme, though the Chancellor has announced there will be a new scheme to support those affected by local lockdowns. Dovish signalling has come from the BoE governor this week, similar to policymakers at other central banks. Attention remains fixated however…… Attention remains fixated on the final phase of talks between the EU and UK, with less than one week to go until the EU’s summit. Despite the public brinkmanship, there have been reports from behind the scenes of motion toward finding a compromise on key issues from both UK and EU sources. Any news of a deal would likely boost Sterling over the near term. But even with a deal, and even with UK progress in signing continuity agreements with non-EU trading partners, the UK will see its terms of trade position deteriorate. It has also become increasingly clear that London’s European dominance in financial services will erode, deal or not. The technical picture of Cable is overall neutral after Tuesday’s bearish engulfing candlestick pattern at the 1.3000 area. However the asset reversed again to the upside retesting that area once again. Interestingly an inverse head and shoulders looks ready to be formed, however how the market will respond and whether or not it will confirm the formation depends on next week’s summit. A decisive move above 1.3000 and the 50-DMA could indicate a boost to August highs, while a pullback to 1.2700 lows would increase the negative momentum. Next week’s Summit The October 15 EU summit that was originally seen as the deadline for Brexit talks, and which Boris Johnson still flags as the point where the UK will walk away even if there is no deal, is just a week away and the chances that there will be an agreement at that point is almost non-existent, despite latest comments from officials. EU Commission President Von der Leyen and UK Prime Minister Johnson may have agreed to extend official talks during a recent phone conversation, but the fact that these seem to still be regular talks, rather than “tunnel” discussions based on agreed “landing points” on key issues, highlights that differences remain too large to get a deal done quickly. Listening to the UK side, the question of how to deal with fisheries and future access to UK borders is the key point, but while that clearly is important as a signaling factor for the UK public and important for some EU member states, the more pressing issues for the EU are level playing field rules, the governance of any agreement and the future cooperation on data sharing on security and crime fighting. Indeed, level playing field rules and governance could be the key to any agreement. Not that EU states are in any mood to give ground on fishing at the moment and indeed, while it seems at first sight that the UK has every right to exclude the EU’s fleet from its own waters, most of the fish found in UK waters is actually sold and eaten in the EU. The fishing issue, which is a big part of the UK government’s narrative at home (more so than the right to subsidise companies) clearly is a bargaining chip that national heads of state don’t want to give up as long as talks remain at negotiator level. Next week’s summit will bring an opportunity to take stock and maybe pave the way for “landing zones” that would allow the move towards “tunnel talks” later in the month. That would push the timing of the likely showdown into early November. Given that any agreement still has to go through a legislative process on both sides of the Channel and that there is a clear risk that the EU parliament will reject any deal if the UK’s Internal Market Bill is not scrapped or modified by then and that Johnson may face defeat if he makes too-big concessions on fisheries, there are still pitfalls ahead. Ultimately both sides want a deal and it is widely hoped that there is very likely going to be one, although it is also likely to be limited in scope. For the Brexiteers the opportunities that await outside of the EU and its regulations make up for that. The recent agreement with Japan was a case in point, with the UK barely able to match the agreement the EU has with Japan. At the current juncture, the best the UK can hope for is to replicate the deals the EU already has. Even with a tariff free, quota free deal, the UK’s loss of unfettered access to the single market and customs union would lead to trade destruction. UK exporters would face cost-increasing non-tariff barriers, such as customs formalities and regulatory barriers. The same would be the case for EU exporters to the UK, though the impact would be much magnified on the UK side of the Channel. Productivity would also be impacted, given reduced competition and reduced scope for businesses to benefit from economies of scale. Financial services — a golden goose that accounts for 22% of government tax receipts — is a particular concern. A Bloomberg article highlighted the steady stream of financial services resources that are being moved out of the UK to the Eurozone, and the fact that even with an EU trade deal in place, London will likely continue to lose business to Eurozone financial centres as the “equivalence” regime on rules would leave firms with long-term uncertainty. Hence with or without this year’s pandemic, the transition would have been difficult. The UK is likely to also face a huge rise in structural unemployment, as Brexit will cut off access to the cheap workforce in Eastern Europe, while a large part of those losing their livelihoods now – first and foremost those in services sector – won’t be able to just retrain as builders and benefit from the building boom the government is trying to generate. 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. Link to comment Share on other sites More sharing options...
HFM Posted October 12, 2020 Share Posted October 12, 2020 Date : 12th October 2020. Events to Look Out for This Week. The risk that virus developments will disrupt the recovery is back in play and very real globally. The lack of another round of stimulus in the US, ongoing US-China frictions and US elections weigh further on a potential economic recovery, as, after all, there is still a long way to go. The EU summit and Q3 earnings season kick off in the next week, with most of the large financials reporting. Data-wise, in focus will be inflation data from the biggest economies in the world, including the US, China and Europe. Tuesday – 13 October 2020 Trade Balance (CNY, GMT N/A) – Chinese trade is expected to see a decline in September, at $50.5B from the $58.9B last month. Harmonized Index of Consumer Prices (EUR, GMT 06:00) – The German final HICP inflation for September is anticipated to be at -0.1% y/y. Average Earnings (GBP, GMT 06:00) – Average Earnings excluding bonus are expected to have grown by 0.6% (3Mo/Yr) in August. The ILO unemployment rate is expected to have steadied to 4.1% in the three months to August. Consumer Price Index (USD, GMT 12:30) – Consumer Price Index is seen at 0.2% September gains for both the CPI headline and core, following 0.4% gains for both in August. The headline will be restrained by an estimated -0.3% September drop for CPI gasoline prices. Wednesday – 14 October 2020 Producer Price Index (USD, GMT 12:30) – For September both the headline and the core PPI are forecasted at 0.1%. As expected readings would result in a y/y headline PPI metric of 0.2%, up from -0.2% in August. A modest decline in energy prices will weigh on the headline. The y/y core reading is assumed to remain in the 0.9%-1.2% area over the near future, with a downward hit from reduced aggregate demand but a boost for prices from supply disruptions. Thursday – 15 October 2020 European Council Meeting -Event of the week – With political heavyweights now getting directly involved, we will find out over the next week (into the EU’s October 15th-16th summit) what degree of compromise both sides are willing to make to reach their shared goal of tariff free, quota free trade. Johnson reportedly wants to persuade the EU to enter in “the tunnel” (known as “submarine” in EU parlance), which refers to a media blackout period, to allow the final phase of negotiation to be uninterrupted by media or other criticism. Von de Leyen rejected that this is happening, however. The EU position has been that this would only happen when compromise positions have been established, which has not happened yet, with fishing rights and EU level playing field rules, the latter of which includes the state aid issue, remaining sticking points. Employment Data (AUD, GMT 00:30) – The unemployment rate is an important national priority for RBA, hence the employment change is key for the RBA this week. However, another sign of economic contraction it is expected as the s.a. reading is seen at -50K in September. Consumer Price Index (CNY, GMT 01:30) – Consumer Price Index is seen unchanged for September at 2.4% y/y and 0.4% m/m. Friday – 16 October 2020 IMF Meeting European Council Meeting -2nd day US Presidential Debate – Cancelled and postponed until 22nd of October. Consumer Price Index (EUR, GMT 09:00) – Inflation remains too low and against that background the ECB clearly is on course to strengthen the low for longer message by switching to a fixed inflation target. Eurozone CPI is anticipated steady at -0.4% m/m and core at 0.2% m/m for September. 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. Link to comment Share on other sites More sharing options...
xtreamforex26 Posted October 13, 2020 Share Posted October 13, 2020 Technical Analysis of EUR/USD EUR/USD Price Flashing the Red Chart Breakout The EUR/USD price is trading shows the bullish on the daily chart pattern according to the press time. EUR/USD price will jump at the level 0.61% that formed the bullish maruboze candle that conforming the break on the bearish channel to the trend line connecting to the highs on Sep 21 and lows on Sep 25. The pair is at present drifting close to the level 1.1815, expressing to a 0.15% loss on the day. The resurgence of COVID over the Eurozone is by all accounts weighing over the mutual price. All things considered, the movement will stay bullish while the pair is held over Friday's low to level 1.1752. The pair were previously closed at the level 1.1824. Support Level: S1 1.1815, S2 1.1812, S3 1.1815 Resistance Level: R1 1.1822, R2 1.1826, R3 1.1829 AUD/USD Price Rejected the Bearish Trendline at 6-Week Chart The AUD/USD pair will be currently traded at the level 0.7216 that facing the rejection at the level 0.7234. Some of the Indicators like the MACD histogram and the 14-day relative quality file are revealing bullish conditions. As it were, they have adjusted for a potential gain break of the bearish trendline. Whenever followed by a move below Friday's low of 0.7162, the most recent release at the trendline obstacle would confirm a finish of the motion from the Sept. 25 low of 0.7006 and inversion lower. The pair were previously closed at the level 0.7239. Support Level: S1 0.7225, S2 0.7221, S30.7218 Resistance Level: R1 0.7233, R2 0.7237 , R3 0.7240 To know more visit https://xtreamforex.com/ Link to comment Share on other sites More sharing options...
HFM Posted October 13, 2020 Share Posted October 13, 2020 Date : 13th October 2020. Equity markets rally loses some momentum in EU session. Risk aversion picked up again, underpinned by negative vaccine news amid reports that Johnson & Johnson halted its Covid-19 trial due to “unexplained illness”. The December 10-year Bund future is up 1 tick, while in cash markets Treasury yields have dropped back -1.2 bp to 0.76% after yesterday’s holiday. In FX markets EUR and GBP both declined against a largely stronger US Dollar. Negative vaccine headlines weighed on sentiment overnight, but tech stocks remained supported and the prospect of additional monetary and fiscal stimulus should help to underpin sentiment. European stock markets are narrowly mixed in opening trade, with the UK100 up 0.04%, GER30 down -0.14% and the Euro Stoxx 50 down -0.03%, while US futures are narrowly mixed, with only the USA100 future managing fractional gains. The ECB is clearly readying a strengthening of the PEPP program, the BoE is stepping up the preparations for a move towards negative rates and ECB President Lagarde also stressed again the need for fiscal stimulus to support the wave of monetary stimulus as the renewed surge in virus cases is threatening the still fragile recovery. An ongoing salvo of dovish signalling from ECB policymakers has resulted in outright Euro and GER30 declines, though has likely been contributory in offsetting dollar weakness recently. Aside from the Fed itself, and partly in response to, many other central banks have been conducting similar messaging campaigns. Further pressure has been added to both EUR and GER30 despite after the release of German HICP inflation earlier. German HICP inflation confirmed at -0.4% y/y in the final reading for September. The national CPI rate was confirmed at -0.2% y/y, with the temporary cut to the VAT rate as well as the decline in energy prices the main reasons for the negative headline rate. Excluding household energy and petrol, CPI would have been 0.6% y/y. Still, while is not real deflation, the officials are clearly concerned that a prolonged period of negative headline rates against the background of new virus restrictions and rising unemployment will lead to a more permanent shift in inflation expectations that could lead to a deflationary spiral down the line. For the dovish camp at the ECB, the numbers will provide further ammunition in the push for additional stimulus measures and a further extension and strengthening of the PEPP program. GER30, despite a decline on opening, retains the support at the 50-period SMA in the 1-hour chart. Although the asset has reversed nearly all the year’s losses and is trading clear above 12,500, the outlook is still not decisively positive, but neutral. It has been in a new uptrend since the beginning of October but momentum looks neutral with bulls struggling for a second day to move above 13,200 (76.4% FIb level) after a weak close yesterday. The improvement in momentum indicators will clear the strength level of the trend, as MACD is being tested around neutral as RSI slips lower towards 50. Immediate Resistance is in place at yesterday’s high, and the 13,200 at 76.4% Fib. The bulls need to show a breakout of this area. A pullback below 61.8% Fib. level at 13,027 but more precisely below the round 13,000 would seriously challenge whether bears are slowly taking the control again. 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. Link to comment Share on other sites More sharing options...
xtreamforex26 Posted October 14, 2020 Share Posted October 14, 2020 Start Your Trading With Global Regulated Broker Xtreamforex is one of the most highly regulated Best ECN Broker that offers the CFD trading online this gives our traders a level of confidence. We consider ourselves as the pioneering broker. We offer a plethora of the account types with fast order execution and better trading conditions. Choice with regards to the advanced trading platforms we offer, the assets we host, and the account types available, in the hope that our clients have a pleasant and rewarding trading experience. Reliable Trading Platform As an XtreamForex client, you also benefit from the choice of and more ways to trade. We offer a selection of manual trading platforms MetaTrader 4/MetaTrader 5, WebTrader.We allow you to trade anywhere anytime with our multiple devices compatible with any devices. You can also choose from a variety of automated trading platforms, including our Mobile trading platform. Customer Support XtreamForex customers can trade in silence, knowing they are in good hands. Our customer service agents are ready to help with any trading issues you may have. Our service, combined with a deep understanding of the financial markets, allow our traders to enter the markets with confidence. Upon your first deposit of $10 or more, you will be appointed a dedicated Account Manager to guide you in your first trades, teach you how to use our trading platforms, and inform you on all market matters. XtreamForex Education Guide Xtreamforex education guide will help you to start your trading experience in a reliable way. We have a lot of trading sessions for the traders. Our education guide will help the new trader to gain knowledge about forex. Moreover, XtreamForex’s ultimate guide has the three basic sections as if you have a beginner in forex trading you have a chance to join the beginner guide. In case you have the little knowledge about the forex trading then you have a option to go with the Elementary section. On the other, if you have all the basic knowledge of trading and you want to be a pro trader then we recommended you go with the Intermediate or the Experience Guide. It will help you grow your trading skills. Link to comment Share on other sites More sharing options...
HFM Posted October 14, 2020 Share Posted October 14, 2020 Date : 14th October 2020. Big Bank Earnings & PPI lift sentiment. USA500, Daily Bank of America (BoA) and Goldman Sachs (GS) both reported third-quarter earnings earlier that beat estimates. BoA reported net income of $4.9bn, or 0.51 cents per share (EPS) compared to the consensus estimate of 0.49 cents EPS. Revenue in the same quarter last year was $5.8bn and only $3.5bn for the second quarter of 2020. Like JPMorgan and Citibank yesterday, the recovery in Q3 was the reduction in provisions for bad loans down to “only” $1.4 bn from the colossal $5.1bn in Q2. Total revenues were lower at $20.3bn. Shares closed down 2.84% yesterday at 24.95 and are down a further 2.9% in out-of-hours trading today at 24.21. Goldman Sachs (GS) figures were significantly better than consensus, with EPS at an impressive $9.68 versus expectations of just $5.57 – a beat in excess of 73% and a record for a quarter. Net revenues for the quarter were $10.78 bn versus $9.45 bn, a beat of some 14% and 30% better than the same quarter in 2019. Shares closed down 1.55% yesterday at 210.81 and are up 2.0% in out-of-hours trading today at 215.10. US headline PPI rose 0.4% in September, with the core rate up 0.4% as well, both hotter than forecast, following respective August gains of 0.3% and 0.4%. The core price ties with August for the firmest since April 2019. Prices have recovered from big and record drops in April of -1.3% for the headline and -0.4% on the core. The 12-month pace climbed to a 0.4% y/y rate from -0.2% y/y previously, and the core rate surged to a 1.2% y/y clip versus 0.6% y/y. Goods prices increased 0.4% on the month from August’s 0.1% gain, with food prices jumping 1.2% from the prior -0.4% decline, while energy prices fell -0.3% after slipping -0.1% previously. Services prices were up 0.4% from 0.5% in August. The Dollar edged lower following the September PPI print. USDJPY hit near two-week lows of 105.21, down from near 105.30, as EURUSD headed to intraday highs of 1.1764 from near 1.1755. The Dollar has been on the decline generally since before the open. Equity futures remains mixed with USA500 trading at 3519, up from earlier lows at 3502 but down from European session highs at 3532. 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. Stuart Cowell Head 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. Link to comment Share on other sites More sharing options...
HFM Posted October 15, 2020 Share Posted October 15, 2020 Date : 15th October 2020. European Equities Heavy on Covid-19 Resurgence. Trading Leveraged Products is risky GER30, UK100, H1 European stock markets are selling off, with the GER30 now down 3%, the UK100 2.3%, as investors price out stimulus hopes in the US and prepare for fresh economic setbacks as the second round of Covid-19 hit Europe and leads to increasingly strict restrictions. France has announced a curfew for Paris, that confines citizens to their homes between 9 pm and 6 am for four weeks, in the U.K. regional lockdowns are widened with London moving to tier 2 (No household mixing indoors anywhere from midnight on Friday. People are discouraged from using public transport. Schools, universities and places of worship remain open. All businesses and venues can continue to operate) and in Germany Chancellor Merkel has urged citizens to stick to the rules while signalling that official measures will be tightened if cases continue to rise at the current rate. Officials are eager to avoid full lockdowns, but despite the respite over the summer, they failed to prepare appropriate alternative measures to deal with the spike in cases that is now starting to show up in hospital admissions. Central bank officials continue to signal the willingness to do more if needed, but that hasn’t prevented Eurozone spreads from widening this morning, as peripheral bond markets feel the pressure from the pick-up in risk aversion. The Italian 10-year yield is up 3.4 bp, although still below the 0.7% mark, while German 10-year yields have dropped back -3.8 bp and -3.2 bp so far today. The GER30 spiked below 12,600 from a close yesterday at 12,970, the UK100 pushed below 5,800 from highs yesterday over 6,000. 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. Stuart Cowell Head 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. Link to comment Share on other sites More sharing options...
HFM Posted October 16, 2020 Share Posted October 16, 2020 Date : 16th October 2020. Election2020 – Only Three Weekends Remain. A little over 2 weeks – 12 trading days – until the US Election, and the Town Hall meetings co-hosted on the two main US national TV networks provided nothing really new with regards to policy or outlook. However, it did provide the opportunity to have both meetings running consecutively side-by-side. President Trump was in Miami, in the must-win state of Florida (29 Electoral College votes) with NBC, while former Vice President Biden was in Philadelphia, Pennsylvania, another key swing state with 20 Electoral college votes available to the victor, with ABC. President Trump said “I know nothing about QAnon”, that he WILL accept a peaceful transfer of power, ”Yes, I will. But I want it to be an honest election, and so does everybody else.” and commented on whether he took a coronavirus test on the day of his last debate with Mr Biden, saying: “Possibly I did, possibly I didn’t.” Candidate Biden continued to avoid answering if he would move to increase the size of the supreme court (the third arm of US government) with judges if, as seems likely, the Senate confirm judge Amy Coney Barrett to the court before election day. “I have not been a fan of court packing. I’m not a fan.” He admitted that the 1994 crime bill, which he helped draft, which the Black Lives Matter Movement has claimed is one of the reasons for mass jailings of African Americans, was a “mistake” but continued to defend his record “It [the bill] had a lot of other things in it that turned out to be both bad and good.” So attention is turned to a weekend of high intensity campaigning, the final two-week onslaught of media messages and no-holds-barred advertising. The pair are still expected to meet face to face for the final time before polling day on Thursday in Belmont University, Nashville, Tennessee (a strongly Republican state with 11 electoral college votes, almost guaranteed for the President). The Pandemic, Economics, Foreign Policy, and even the environment are likely to be key topics in what is expected to be a much less raucous and chaotic affair than their first encounter. The most powerful job in the world is up for grabs, and it impacts us all, regardless of where we live. 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. Stuart Cowell Head 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. Link to comment Share on other sites More sharing options...
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