Hotforex.com - Market Analysis and News.

Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Thu Apr 20, 2017 6:30 am

Date : 20th April 2017.

MACRO EVENTS & NEWS OF 20th April 2017.


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FX News Today

European Outlook: Stock markets moved higher in Asia overnight, as oil recovered some of its recent losses and amid better than expected trade data out of Japan, which underpinned global growth optimism. U.S. stock futures are also moving higher, U.K. stock futures continue to underperform and remain in the red as ongoing Sterling strength weighs on the index. Elsewhere in Europe stock markets already moved higher yesterday and are likely to join the global stock rebound, which is likely to keep upward pressure on core European yields. Gilt futures have been underperforming in tandem with the FTSE 100 in recent days and in the Eurozone spreads are coming in, as policy markets indicate that its too early for a change in central bank policy thus laying the ground for a steady hand policy decision next week. French markets remain jittery ahead of Sunday’s election, which is turning into a four-way race. Today’s calendar is quiet. Germany has PPI inflation at the start of the session, the Eurozone releases construction output data and there is supply from Spain and France.

German PPI inflation steady at 3.1% y/y in March, unchanged from the previous month. Energy prices dropped over the month in March and contributed to a large extend to the steady headline rate. Excluding energy, however, PPI accelerated markedly to 2.6% y/y from 2.2% y/y in the previous month and versus just 0.6% y/y in December. Clearly underlying inflation pressures are making a comeback, and more so in Germany than in some other parts of the Eurozone and while it is clear that the majority at the ECB doesn’t want to remove the insurance policy against geo-political risks and the flaring up of the debt crisis yet, the discussion about tapering and a gradual removal of the ECB’s policy support won’t go away.

Fed’s Beige Book repeated the economy rose at a modest to moderate pace, as is the usual characterization. Manufacturing grew at a modest to moderate clip, as did employment, though the labor market remains tight. Modest wage increases broadened, and there were bigger increases for skilled workers. Prices rose modestly with input prices generally outpacing gains in selling prices. Consumer spending was varied, with stronger auto sales somewhat offset by softer non-auto retail spending. Residential construction spending accelerated somewhat, even as home sales slowed, partly on a lack of inventory. Nonresidential construction remained strong, but became more mixed in some regions. The report surely keeps the Fed in play, but there’s no urgency for a hike next month, especially given some uncertainties noted over fiscal policy.

The UK parliament voted in favour of the June 8 election, a formality that had been widely anticipated following the prime minister’s calling of it. The vote was 522 to 13. The pound was consolidating gains since Tuesday, following the PM’s call for a snap election. The thinking in markets is that the Tory Party would likely win a much a bigger majority than present, if polls are to be believed, which would give the Prime Minister much more flexibility in upcoming negotiations with the EU. May will also have three years clear after actual Brexit in 2019 before having to hold a general election, which pundits reckon will also give her much greater leeway in forming a possible transitional trade agreement with the EU.

Main Macro Events Today

U.S. Initial Jobless Claims – Claims data for the week of April 15 are out today and should post an increase to 240k from 234k last week and 235k the week prior. Claims continue to remain remarkably tight.

U.S. Philly Fed Index – The April Philly Fed expected to decline to 25.0 from 32.8 in March and 43.3 in February. The Empire State is already out and posted a decline to 5.2 from 16.4 in March.

BOE Gov. Carney – BOE Gov. Carney speech starts at 12:30 GMT at the Institute of International Finance Policy Summit, in Washington DC.

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.
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Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Fri Apr 21, 2017 6:03 am

Date : 21st April 2017.

MACRO EVENTS & NEWS OF 21st April 2017.


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FX News Today

European Outlook: Stock markets moved higher in Asia overnight, with Japan outperformed as the Yen weakened following indications from BoJ Governor Kuroda that he will keep the accommodative policy in place. Hopes of progress on Trump’s tax reform following comments from Treasury Secretary Munchin helped to underpin gains elsewhere. The move higher in Asia followed gains in the U.S. yesterday, but it remains to be seen how European markets, which mostly managed to close slightly higher, while the French CAC rallied on hopes that Macron will emerge as the winner in Sunday’s election, will react to the latest shootings in France. The EUR seemed little phased, but to close to the election, the incident could underpin support for Le Pen’s hard line stance in what already looks like a very tight race. US. and U.K. stock futures are higher and oil prices are also extending gains with the front end WTI future at USD 52.75 per barrel. Today’s calendar focuses on preliminary PMI readings out of the Eurozone, which also has current account and BoP data. The U.K. releases retail sales for March.

FX Update: The majors have continued to hold narrow ranges into the risk event that is Sunday’s French presidential election, which presents polarized risks for the euro. EURUSD is holding in the lower 1.07s, consolidating after failing to sustain yesterday’s run to a three-week high at 1.077. USDJPY has settled around 109.00. The yen was briefly bid following news of the terrorist attack in Paris, which left two police dead, though impact proved limited. The yen subsequently dipped after BoJ’s Governor Kuroda made dovish remarks during an interview with Bloomberg TV, where he said, “we will stick with yield curve control” and that “we think the current pace of purchases and monetary base increase will continue for some time.” The reaffirmation that the BoJ is sticking to its dovish course, which contrasts with the Fed, and even the ECB, was enough to prompt a wave of yen selling, with USDJPY logged an intraday high at 107.42 before impetus faltered, leaving yesterday’s nine-day peal at 109.49 untested.

U.S. reports: initial jobless claims rose 10k to 244k in the week ended April 15 after slipping 1k to 234k previously, which followed the 24k plunge to 235k for the April 1 week. Continuing claims declined 49k to 1,979k in the April 8 week after dropping 7k to 2,028k previously. That’s a 17-year low. Claims may have been impacted by the Good Friday holiday. Meanwhile, despite the uptick in jobless claims, the data remain near historic lows and reflect a strong labor market, as noted in the Fed’s April Beige Book. U.S. Philly Fed manufacturing index fell 10.8 points to 22.0 in April following the 10.5 point drop to 32.8 in March. Those follow the surprisingly strong 19.7 point surge to 43.3 in February which was the highest level since January1984, and compares to the record high of 49.5 in July 1983.

Main Macro Events Today

EU PMI – The Easter effect may also have an impact on preliminary PMI readings for April, and manufacturing and services sector numbers differently. Eurozone’s manufacturing readings expected at 56.3 from 56.2, while the services sector number expected to be remain unchanged at 56.0, which should leave the composite marginally at 56.3 from 56.4 in March.

UK Retail sales – Retail sales for March, expected to decline 0.3% m/m and February’s 1.4% m/m gain. Meanwhile, total Retail Sales are seen slowing to a 3.4% y/y pace in March from 3.7% in February.

Canadian CPI – CPI, expected to expand 0.4% m/m in March after the 0.2% gain in February. Gasoline prices tracked higher through March. Meanwhile, total CPI is seen slowing to a 1.8% y/y pace in March from 2.0% in February. The Bank of Canada expressed cautious optimism that underlying CPI will gradually move back towards the 2% target.

US PMI & Existing Home Sales – The week rounds out with April Markit PMI and March existing home sales data expected at 2.5% increase in the headline pace to 5.60M from 5.480M in February.

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.
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Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Mon Apr 24, 2017 8:42 am

Date : 24th April 2017.

MACRO EVENTS & NEWS OF 24th April 2017.


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FX News Today

Geopolitics have continued to dominate global markets long after the June 23 Brexit vote and the November 8 Trump victory. And the emphasis will remain on POLITICS this week too following the outcome of France’s presidential election (round 1), and ahead of a “big announcement” Wednesday from President Trump on his tax plan. Eurozone and especially French markets are likely to take a sigh of relief after Macon managed to beat Le Pen in the first round of the French election and Frexit risks subside. Macron will have to wait until the second round on May 7 where he is set to beat Le Pen by a wide margin, before he officially becomes President, but markets are likely to celebrate his victory already today.

United States: U.S. markets will quickly turn to domestic politics as President Trump plans an announcement Wednesday on his tax code overhaul. However, the White House said late Friday that it would be more of a broad outline, and hence not heavy on details. The economic calendar will generally take a back seat this week. The Advance Q1 GDP report (Friday) should be one of the more interesting releases. Growth is expected to slow to a 1.3% pace, from Q4’s 2.1% pace, and continuing the trend over the last several years of measurable erosion in Q1. More timely data includes the April Dallas Fed index (Monday), the Richmond Fed index (Tuesday), the KC Fed survey (Thursday), and the Chicago PMI (Friday). March new home sales (Tuesday) are forecast falling 1.2% to 585k. Also on Tuesday are the February Case-Shiller and FHFA home price indexes, with pending home sales due Thursday. Consumer confidence (Tuesday) should slip to a still strong 124.0 in April after the surprise surge to 125.6 in March. The final April print on consumer sentiment (Friday) is expected to inch up to 98.5. March durable goods orders (Thursday) are expected to be unchanged. Finally, Q1 ECI (Friday) is forecast holding at a 0.5% pace.

Canada: Canada awaits the first look at February GDP (Friday), expected to reveal a flat (0.0%) reading after the 0.6% surge in January. But before that, some additional ingredients for the GDP projection will be released, with wholesale shipment figures (Monday) and retails sales (Wednesday). Wholesale shipments are expected to fall 0.5% m/m in February after the 3.3% surge in January. Retail sales are projected to improve 0.1% after the 2.2% jump in January. The industrial product price index (Friday) is seen rising 0.2% m/m in March after the 0.1% gain in February. Average weekly earnings for February (Thursday) and the CFIB’s Business Barometer for April (Thursday) round out the calendar.

Europe: Today,Even as the markets will be busy digesting the outcome of the first round of the French Presidential election from Sunday, traders will also have a bumper crop of data to analyze, along with the outcome of the ECB meeting. The outcome of the ECB meeting (Thursday) will also hinge to some extent on the French election result. Growth is picking up and this week’s data round is likely to add further to signs that the recovery is not just strengthening, but broadening, and that the slowing in the March HICP to 1.5% y/y from 2.0% was due to special factors. The very full data calendar has first Q1 GDP readings from France and Spain, as well as more April confidence surveys in the form of the German Ifo and the EMU ESI. There also will be a full round of preliminary April inflation numbers. The French HICP (Friday) is expected to bounce back to 1.7% y/y in April from 1.4%, while the Italian reading (Friday) is seen at 1.7% y/y from 1.4%. Spain’s price figure (Thursday) should rise to a 2.4% y/y clip from 2.1%. These should boost the overall April Eurozone CPI (Friday) to 1.8% y/y, up from 1.5% in s month. Even core inflation will be impacted by the Easter effect. Also on the week’s slate are German March retail sales, import price inflation, and GfK consumer confidence, along with French consumer spending data. The ECB meanwhile publishes the latest bank lending survey on Tuesday.

UK: Sterling rallied over 2% last week after British PM May called a snap election, which will take place on June 8 and is widely expected to see her Tory Party greatly increase its majority. Market focus will be on incoming polls, and while the main Labor Party opposition is in disarray, there is a risk that the SNP might win the vote strongly at the election, which would increase the odds for Scottish independence. After a quiet week previously, the UK data schedule picks up, highlighted by the preliminary Q1 GDP estimate (Friday) where we expect growth to slow to 0.4% q/q from 0.7%. Other data include the April CBI surveys on industrial trends (Monday) and the distributive sector (Thursday), both of which we expect to show moderation from respective April readings. Overall, the reports are expected to fit an emerging picture of stagnating economic growth, which the ONS stats office, in explaining unexpected weakness in official March retail sales data on Friday, blamed mostly on rising prices and declining real income.

Japan: Japan’s BoJ meets (Wednesday, Thursday). The Bank is widely expected to keep its very accommodative stance in place with its -0.100% policy rate, while maintaining its control over the yield curve via QE and the asset purchase program. Indeed, BoJ Governor Kuroda confirmed last week that easy policy and steady asset purchases would continue to some time. The data calendar kicks off with March services PPI (Tuesday). That’s followed by the February all-industry index (Wednesday). The balance of releases are out on Friday, beginning with March National CPI, March unemployment, preliminary March industrial production, March personal income is due, along with March PCE, March overall retail sales, March housing starts and March construction orders are also on tap.

Australia: Australia’s calendar features a double dose of inflation data: Q1 CPI is scheduled for release on Wednesday and Q1 PPI is due out Friday. CPI is expected to expand 0.6% in Q1q/q after the 0.5% gain in Q4, leaving an annual growth rate of 2.2% in Q1 after the 1.5% y/y pace in Q4. The PPI is projected to expand 0.8% in Q1 following the 0.5% rise in Q4. Trade prices for Q1 are due on Thursday, while March private sector credit will be released on Friday.

New Zealand: New Zealand’s slate has the March trade report, expected to show a NZ$200 mln surplus after the NZ$18 mln deficit in February. Building permits for March are also 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.
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Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Tue Apr 25, 2017 7:38 am

Date : 25th April 2017.

MACRO EVENTS & NEWS OF 25th April 2017.


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FX News Today

European Outlook: The global stock market rally continued in Asia overnight. In the absence of further news from North Korea global jitters have abated somewhat and with Macron advancing as the favourite in the runoff to the final round of the election, the focus is turning to corporate earnings, the ECB meeting Thursday, and once again Trump’s tax package. The Nikkei remained underpinned by a weaker Yen, Chinese stocks stabilized, after yesterday’s sell off, while Australia and New Zealand were closed for a holiday. U.S. and U.K. stock futures are moving higher and Bund futures, which sold off sharply yesterday as save haven trades were being reversed, already started to stabilize later in the session. Eurozone spreads, which came in sharply yesterday as French and peripheral yields dropped, should also start to stabilize again, especially as more stability in France also means there is less need for Draghi’s insurance policy on rates and QE. Today’s calendar has business confidence data from France, the ECB’s bank lending survey, a German Schatz auction and U.K. borrowing numbers.

Fed’s Kashkari said bank regulations made ending too-big-to-fail worse by raising compliance costs on small and medium sized lenders. Kashkari is speaking at an investment conference at UCLA. And he noted big banks likely hate his call for a higher capital cushion. Dodd-Frank legislation was probably a net-positive for the system, but looking back on it, he added it wasn’t perfect and didn’t really address too-big-to-fail. He’s not real sure of the benefits of negative rates. While they may have helped spur people to invest and spend more, and save less, he’s simultaneously concerned that the psychological channel of negative rates may scare people. He didn’t really address monetary policy given his speech falls within the FOMC’s 10-day blackout period.

European markets continued to celebrate Macron’s victory in the first round of the French election during the European session yesterday. Frexit and Eurozone breakup concerns were being priced out, which triggered a broad rally on European stock markets. The FTSE 100 underperformed but still managed to gain more than 2%, and in the Eurozone, it is the Italian MIB rather than the French CAC 40, which is leading the way by rising nearly 4.5%. The revival of risk appetite saw Bund and Gilt yields spiking higher, while Eurozone peripheral yields dropped sharply and spreads came in. The German 10-year Bund yield is up 9.3 bp while the Gilt yield is up 4.1bp. By contrast the French 10-year is down -8.8 bp, the Italian down -4.5 bp, the Spanish down -5.4 bp and the Portuguese a whopping 14.9 bp. At the short end France clearly outperformed and the French yield curve steepened as the 2-year yield lost -11.2 bp . Macron still has to take on Le Pen in the second round of the contest on May 7, but he is tipped to beat the far right, EU critic by a wide margin.

Main Macro Events Today

UK Public Borrowing – March’s Public borrowing data is also up today, and expected to go up to 1.5B from 1.1B last time.

US Consumer Confidence – April consumer confidence is out today and should fall to 124.0 from 125.6 in March and 116.1 in February. Michigan Sentiment rose in its first release, climbing to 98.0 from 96.9 in March and 96.3 in March. However, the IBD/TIPP Poll for April declined to 51.7 from 55.3 in March.

US New Home Sales – March new home sales data expected at 1.2% headline decline to a 585k pace from 592k in February and 558k in January. The other major housing reports were mixed with starts falling to 1.215 mln from 1.202 mln in February whereas existing home sales rose to 5.710 mln from 5.470 mln in February.

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.
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Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Wed Apr 26, 2017 5:57 am

Date : 26th April 2017.

MACRO EVENTS & NEWS OF 26th April 2017.


Image

FX News Today

European Outlook: Asian stock markets managed another broad move higher, after gains on Wall Street yesterday. Hopes for U.S. tax cuts and a weak Yen underpinned a nearly 1% rise in the Yen. Gains in Europe had moderated on Tuesday after the initial rally following the French election result, but global equity markets still seem more relaxed. In the Eurozone though more stability on the political front also means that the pressure on Draghi to change the forward guidance is increasing and a Reuters source story yesterday confirmed that while the ECB may want to wait for the second round in France, it could change tack and start laying the ground for exit strategies at the June Meeting. We don’t expect Draghi to tweak the already announced QE schedule for this year, but real tapering will be on the cards in 2018 and the easing bias is likely to be finally scrapped in June. Today’s calendar is empty. German preliminary HICP, EMU ESI economic confidence and the U.K. CBI retailing survey are all due alongside the ECB meeting tomorrow.

U.S. reports: revealed a strong data set for housing, confidence and sentiment. For new home sales, we saw a 5.8% March surge to a robust 621k rate after net upward revisions, though the pace remained a tick below the 622k cycle-high in July of 2016 despite the winter weather-lift. Both the FHFA and S&P/Case-Shiller home price indexes rose in February by 0.8% and 0.4% respectively. Consumer confidence fell in April to a still-robust 120.3 after a March pop to a 16-year high of 124.9 (was 125.6), as confidence fluctuates around its highest levels since December of 2000. Producer sentiment has remained firm in April despite headline drops, as seen with a Richmond Fed downtick to 20.0 from a 7-year high of 22.0 in March and 17.0 in February, versus a 3-year low of -11.0 last August, and Dallas Fed downtick to 16.8 from 16.9 in March and an 11-year high of 24.5 in February. Treasury receipts thus far in April are slightly disappointing however, with a 7% y/y gain despite a lift from last year’s big capital gains.

Australia: Today Australia reported a rise in CPI at 0.5% in Q1 (q/q, sa), matching the growth rate in Q4 and undershooting projections. CPI did accelerate to a 2.1% y/y pace in Q1 from the 1.5% y/y rate in Q4. But that was a touch below projections, but does regardless lift the annual rate above 2.0%. The annual core CPI measures improved: the trimmed mean CPI accelerated to a 1.9% y/y clip in Q1 from 1.6%, while the weighted median CPI picked up to a 1.7% rate from a revised 1.4% growth rate in Q4 (was +1.5%). Notably, the trimmed mean is nearing the bottom of the RBA’s 2.0% to 3.0% target band. The report underpins expectations for steady rates from the RBA through the turn of the year. AUDUSD has dropped to 0.7511 from the 0.7545 level seen just ahead of the report.

Main Macro Events Today

Canadian Retail Sales – Expected at 0.1% gain in February retail sales values. The report, is expected to reveal a 0.2% dip in the ex-autos sales aggregate. There is more forecast risk than usual around this report, as Statistics Canada will present revised figures going back to 2012 that are based on a new sample for the survey.

Pr. Trump Tax Announcement – President Trump plans an announcement Wednesday on his tax code overhaul. As Reuters reported that maybe the biggest Tax Cut since he will propose small business partnerships and sole proprietorships to 15% from 39.6 %.

US Crude Oil Inventories – US Crude Oil Inventories expected to slightly fall to -1.1M from 1M 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.
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Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Thu Apr 27, 2017 10:01 am

Date : 27th April 2017.

MACRO EVENTS & NEWS OF 27th April 2017.


Image

FX News Today

European Outlook: Asian stock markets are narrowly mixed, with Japan’s stock rally running out of steam and Chinese equities underperforming as Xi stressed that financial security is “strategically important” to the country’s economic and social development, thus adding to signs that the government is stepping up its crackdown on leverage. The BoJ presented an upbeat picture of the economy, but left policy unchanged, giving markets little reason to move as investors digest Trump’s tax plan that was released yesterday. The Nikkei is down -0.19%, CSI 300 down -0.55%, while Hang Seng and ASX manage marginal gains. FTSE 100 futures are down, while U.S. futures are moving higher. In Europe, the focus shifts to the ECB meeting, with Draghi likely to follow the BoJ’s example and refrain from rocking the boat although the hawks will step up their pressure, especially as German and Spanish HICP rates today are set to accelerate, while ESI economic confidence is seen rising further. The calendar also has the U.K. CBI retailing survey. as well as Spanish unemployment and German consumer confidence at the start of the session.

Trump E.O. on NAFTA (North American Free Trade Agreement) withdrawal is being mulled according to a Politico.com article posted earlier: “The Trump administration is considering an executive order on withdrawing the U.S. from NAFTA, according to two White House officials. A draft order has been submitted for the final stages of review and could be unveiled late this week or early next week, the officials said. The effort, which still could change in the coming days as more officials weigh in, would indicate the administration’s intent to withdraw from the sweeping pact by triggering the timeline set forth in the deal.” Additionally, House Freedom Caucus endorses the revised ACA repeal plan, noting “while the revised version still does not fully repeal Obamacare, we are prepared to support it to keep our promise to the American people to lower health-care costs.” It was the very conservative Freedom Caucus that generally derailed President Trumps initial plan. So far this week equity markets have gotten bullish news from France, taxes, and now the ACA. Wall Street remains in the green, but gains are limited so far after the surges on Monday, Tuesday, although a close here on the S&P at 2,398 would be a new record high. This latest news should particularly benefit healthcare and insurance stocks.

U.S. NEC Director Cohn is introducing the Trump tax cuts with some historic comparisons, as rates and the system are stuck at 1986 levels even as other countries have gotten more competitive and gone to a territorial basis. He will hand over the podium to Treasury Secretary Mnuchin next. There will be 3 brackets, 10%, 25% and 35% (reduced from 7) and double standard deductions, repeal the death tax, tax relief for families with child and dependent care, married couples won’t pay tax on the first $24k in income. They will repeal the estate tax and the alternative minimum tax, with a 15% business tax rate. Home ownership and charitable deductions will be retained, but most other tax breaks will be eliminated.

Canada: Retail sales volume dip tracks a February GDP stall-out.The 0.1% decline in retail sales volumes followed a 1.4% surge in January and a 0.6% decline in December. A 0.4% decline in wholesale shipment volumes joined the 0.1% gain in manufacturing volumes. Housing starts improved 2.3% to a 214.3k unit pace in February, suggestive of another positive contribution from construction production. Mining, oil and gas production are on track to make a substantial negative contribution to February GDP. The lack of growth in February GDP should be followed by a resumption of activity in March GDP.

Main Macro Events Today

ECB Confidence & Rate Decision – Confidence indicators continue to look good, inflation is expected to bounce back with the April reading and Macron’s advance in the French election means Frexit and Eurozone breakup risks seem banned for now. Against that background, the hawks at the ECB council will likely intensify their push for a change in the forward guidance at the council meeting tomorrow and Draghi will be under fresh pressure to at least drop the implicit easing bias.

ECB meeting – ECB Monetary policy statement and press conference have been scheduled for 12:30 GMT today.

US Durable Goods – March durable goods orders are expected to be unchanged (i.e. 1.2%) following February’s 1.7% increase, on top of the 2.3% January gain which were supported by transportation.

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

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

Click HERE to access the full HotForex Economic calendar.

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Click HERE to READ more Market news.


Andria Pichidi
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HotForex


Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Fri Apr 28, 2017 5:44 am

Date : 28th April 2017.

MACRO EVENTS & NEWS OF 28th April 2017.


Image

FX News Today

European Outlook: Asian stock markets are mostly lower, disappointing earnings reports out of Japan underpinned the correction from the two-week rally and investors are holding back ahead of the Golden Holiday. The ASX is a notable outperformer and clinging on to marginal gains. U.K. stock futures are moving higher but U.S. futures are heading south. After pushing stock indices to new highs investors need further impetus to drive the rally further and are likely to remain cautious ahead of the long weekend in Europe. Yields headed south yesterday, especially in the Eurozone, after Draghi did his best to assure markets that nothing has changed and that should help to cushion the impact of the likely jump in HICP inflation today. Today’s bumper data already includes Spanish GDP, UK Preliminary GDP and CPI Flash Estimate. U.S. calendar includes Q1 GDP, Q1 ECI, Chicago PMI and consumer sentiment.

U.S. reports revealed largely expected durable orders figures for March, but with lean inventory data that combined with a downside surprise for advance trade in goods, with weakness in both exports and imports, to trim our Q1 GDP growth estimate to 1.1% from 1.2%. The advance indicators report also revealed weak wholesale inventory data, though with an upside retail inventory surprise that left a slightly stronger inventory path on net. We also saw a 14k pop in initial claims to 257k in the Easter week, though claims remain tight overall despite holiday-related volatility over the past month, leaving an average thus far in April of a lean 244k. Pending home sales fell 0.8% as expected in March after a 5.5% February pop, and the Bloomberg comfort index rose to a sturdy 50.8. More generally, the durables, trade, and claims data have sustained their firming pattern that implies a pick-up in 2017 growth beyond the disappointing outlook for tomorrow’s Q1 GDP report, which appears to reflect the odd recent pattern of Q1 seasonal weakness.

Japan’s data dump revealed tepid inflation and mixed growth figures. Hence, nothing surprising from the CPI, retail sales, employment, consumption, and industrial production reports. The yen is little changed relative to the New York close, with USDJPY at 111.30. The core CPI measure (excludes fresh food but not energy) grew at a 0.2% y/y pace in March, matching the 0.2% pace in February and remaining well below the BoJ’s 2% target. The employment backdrop remains strong, with the unemployment rate at 2.8% in March, matching February’s 2.8%. But wages and income growth are weak, holding back consumption. Granted, retail sales surged 2.1% y/y in March after the 0.2% gain in February. But month comparable sales were a rather anemic 0.2% in March after the 0.3% gain in February. And household spending contracted 1.3% y/y in March after the 3.8% tumble in February. Industrial production fell 2.1% m/m in March (preliminary) after a 3.2% gain in February. Yet the measure grew at a 3.3% y/y pace in March after the 4.7% y/y gain in February, continuing the run of strong y/y gains (3.1% to 4.7%) seen since November. Unfortunately, Japan’s pick-up in industrial production is due to external demand, as the domestic demand backdrop remains rather weak.

Main Macro Events Today

US Advance GDP & UoM Consumer – The Advance Q1 GDP report should be one of the more interesting releases. Growth is expected to slow to a 1.3% pace from Q4’s 2.1% pace, and continuing the trend over the last several years of measurable erosion in Q1.More timely data includes Chicago PMI and the final April print on consumer sentiment which is expected unchanged at 98.

UK Prelim GDP – The UK data schedule picks up, highlighted by the preliminary Q1 GDP estimate where growth expected to slow to 0.4% q/q from 0.7%.

EU CPI – April Eurozone CPI expected at 1.8% y/y, up from 1.5% last month.

Canadian GDP – Canada awaits the first look at February GDP, expected to reveal 0.1% reading after the 0.6% surge in January.

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.
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Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Mon May 01, 2017 8:04 am

Date : 1st May 2017.

MACRO EVENTS & NEWS OF 1st May 2017.


Image

FX News Today

A convergence of politics, as well as monetary and fiscal policy will collide this week after President Trump finishes commemorating his first 100-days in office over the weekend. Despite lobbying Congress hard for a second vote on the ACA repeal and a Continuing Resolution (CR) on government funding, those cans were kicked down the round with a delayed vote on the former and successful one-week funding bill that will buy a little more time on both fronts. Passed by the House, the CR will keep the government running next week allowing lawmakers more time to debate on a long-term bill to take operations through the rest of the fiscal year. The Senate also unanimously passed the CR to keep the government funded for one more week, while leadership of both houses indicated they are close to a broad spending plan. Markets will weigh these developments closely ahead of the FOMC meeting and April payrolls. Asia cools off this week at least in terms of data, if not geopolitics, after N. Korea fired another failed test missile. In Europe, in wake of the mixed messages from the more bullish-but-dovish ECB last week focus will be returning to eurozone politics with the second round of presidential elections in France at the end of the week

United States: The U.S. economic calendar will be overshadowed by the April employment report, which looms at the end of the week. April nonfarm payrolls are forecast to increase by 188k vs the subpar 98k reading in March, with a 98k private payroll gain. The unemployment rate is expected to hold steady from 4.5% last month. The week will start out with March personal income (Monday), seen rising 0.3% vs 0.4%, while April ISM is forecast to dip to 56.6 from 57.2 (Monday). April vehicle sales are projected to rebound (Tuesday) and MBA mortgage market indices are due (Wednesday) following the rebound in rates from post-election lows, which could crimp refits. The April ADP Employment report (Wednesday) should post a 190k gain (median 200k), below the March figure of 263k. April ISM services may bounce (Wednesday) to 55.9 from 55.2, while EIA energy inventory data is due. The March trade deficit is set to widen to -$44.7 bln from -$43.6 bln (Thursday) and Q1 productivity is seen flat, down from 1.3% in Q4. Initial jobless claims may dip 11k to 246k (Thursday) for the week ended April 29, while March factory goods are expected to be flat vs 1.0%. In addition to the jobs report (Friday), consumer credit is forecast to increase $16.0 bln from $15.2 bln.

Canada: Canadian calendar is rather lean in terms of the number of top tier releases this week, the reports that are out have the potential to move the market. Employment (Friday) is expected to rise 20.0k in April after the 19.4k gain in March. The risk remains for a pull-back in jobs given the robust gains in total jobs that stretch back to August with only one interruption (November’s jobs tally slipped 2.4k). The earnings figures will be of as much interest as the total jobs figures, with another anemic month of earnings growth consistent with the Bank of Canada’s view that “material excess capacity remains” in Canada’s economy. The March trade report (Thursday) is projected to show a trimming in the deficit to -C$0.8 bln from the -C$1.0 shortfall in February that ended the upbeat run of trade surpluses that lasted from November of 2016 to January of this year. Exports are seen making some headway (+0.7%) after the 2.4% tumble in January. The loonie was weaker against the U.S. dollar, which is supportive of export growth. The Ivey PMI for April is due Friday while the Markit manufacturing PMI is scheduled for Monday. Dealer reported vehicle sales for April are expected on Tuesday. BoC Governor Poloz delivers a speech (Thursday) in Mexico City to the CanCham Mexico and Club de industrials. The speech will be available on the Bank’s website at 16:10 ET.

Europe: Data releases this week are unlikely to change the overall picture of a cyclical recovery that is also starting to lead to broad improvements on the labour market. After French and Spanish GDP numbers are looking for an overall Eurozone GDP growth (Wednesday) of 0.5% q/q, unchanged from Q4. The second quarter started with a strong round of confidence data and an encouraging revival in France which is catching up and adding to signs that the recovery is not just focused on Germany. The final round of April PMI readings should confirm the Eurozone Manufacturing PMI at 56.8, and the Services reading at 56.2 which should leave the composite at 56.7, indicating a strong expansion of economic activity. Markit reported with the release of preliminary numbers that employment growth continues to be strong Especially the German labour market is looking quite tight already and we are looking for a further improvement in the sa jobless number of -11K leaving the April jobless rate unchanged at a record low of 5.8%. Overall Eurozone numbers are more backward looking but the March reading should fall to 9.4% from 9.5%, although developments remain uneven across countries and the high rate of youth unemployment remains a key challenge for politicians going ahead.

The calendar also has Eurozone PPI and supply from France and Spain, while Germany sells EUR 3 bln of 10-year Bunds on Wednesday. There is plenty of ECB speak from Lautenschlaeger, Praet and Draghi among others, but comments are likely to focus on Draghi’s main message from last Thursday, namely that nothing has changed so far.

UK: The business week in London markets starts on Tuesday after the May Day holiday on Monday. The calendar this week is highlighted by the April PMI surveys. The manufacturing PMI (Tuesday) expected at a 52.0 reading after the 52.0 outcome in March. A similar abatement is anticipated in the construction and services PMIs (due Wednesday and Thursday, respectively), seeing the former at 52.0, down from 52.0, and the latter at 54.5, down from 55.0 in March. In-line data would reaffirm a picture of an economy in the early throws of stagnation, amid eroding real household incomes, ongoing government austerity, political uncertainty, and declining investment.

Japan: Japan reveals the April manufacturing PMI on Monday, which is expected to tick up to 52.5 from 52.4. April auto sales are also on deck Monday. In China, the April Caixin/Markit manufacturing PMI (Tuesday) is expected at 51.0 from 51.2 previously, while the April services PMI (Thursday) should advance to 52.5 from 52.2.

Australia: Australia’s calendar features the Reserve Bank of Australia’s meeting (Tuesday), expected to reveal no change in the current 1.50% rate setting. The statement is projected to be consistent with no change in rates through year end. The Bank’s Statement on Monetary Policy (Friday) will provide updated growth and inflation projections. Governor Lowe speaks (Thursday) on “Household Debt, Housing Prices and Resilience.” Economic data is headlined by the March trade report (Thursday), projected to show a A$3.5 bln surplus in March after the A$3.6 surplus in February. The Melbourne Institute Inflation Index for April is due Monday.

New Zealand: New Zealand’s calendar has the Q1 employment report (Wednesday), projected to show a 0.7% gain after the 0.8% gain in Q4. The unemployment rate is seen falling to 5.1% from 5.2% in Q4. There is nothing from the Reserve Bank of New Zealand this week. No change in the 1.75% rate setting through year-end s anticipated.

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.
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Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Tue May 02, 2017 6:18 am

Date : 2nd May 2017.

MACRO EVENTS & NEWS OF 2nd May 2017.


Image

FX News Today

European Outlook: Asian stock markets tried to move higher after the holidays, but Hang Seng and ASX are now slightly in the red, as is the CSI 300, while the Nikkei outperforms and is posting a 0.58% gain, helped by a weaker Yen and testing the ceiling that has been in place since December ahead of the holidays. The RBA left the cash rate unchanged, while highlighting the high level of debt in China as a medium term risk. FTSE 100 futures are moving higher after yesterday’s holiday, while U.S. futures are down, with investors looking ahead to the FOMC decision. Today’s European calendar has the final readings of Eurozone manufacturing PMIs, which are expected to confirm preliminary numbers, while the U.K. manufacturing PMI is expected to dip slightly to 54.0 from 54.2 in the previous month. The Eurozone also has Eurozone unemployment data for March and there is ECB speak from Noy and Nowotny.

FX Update: USDJPY has lifted for a second consecutive day, this time logging a new six-month peak at 112.10. EURJPY and other yen crosses are also up quite sharply, reflecting general underperformance of the Japanese currency. EUR-PY clocked a seven-week high at 122.46. The reflects rising global investor risk appetite, which has been weighting on the safe haven yen in accordance with the normal pattern. This comes with various bellwether Wall Street and global indexes trading at or near record highs, with the CBOE implied vols “fear gauge” tipping to the lowest level since 2007 yesterday. News that Greece reached a deal with the IMF and EU, along with a continued strong lead in French opinion polls for pro-EU presidential candidate Macron, have helped maintain a general risk-on vibe, though stock markets have been mixed in Asia today, while U.S. and European equity indexes are slightly lower. The RBA did the expected and left monetary policy unchanged following its latest meeting, and upgraded the language on its outlook for employment in the statement, noting unemployment should “decline gradually over time” while saying that it expects a “gradual further increase in underlying inflation” as the economy strengthens. AUDUSD rallied to an eight-day high of 0.7556 in the wake of the statement, since ebbing to the 0.7530 area.

U.S. reports revealed weaker headlines than expected, but massive upward revisions in the January and February construction spending data left a stronger than expected data mix that lifted our Q1 GDP growth forecast to 0.9% from 0.7%. For construction, a 0.2% March drop followed boosts in the nonresidential, public, and home improvement components, with a firm new home construction trajectory. This accompanied a 0.2% personal income rise with flat consumption that modestly undershot assumptions, alongside a big 0.3% “real” increase thanks to weather-led firmness in service consumption and an expected 0.2% headline PCE chain price drop. An ISM drop to a 4-month low of 54.8 from 57.2 in March and a 30-month high of 57.7 in February still left a firm level, and the ISM-adjusted average of the major surveys is still on track for a solid 56 reading from a 57 cycle-high in February and March.

Main Macro Events Today

UK Manufacturing PMI – The manufacturing PMI expected to reveal a fractional ebb to a 54.0 reading after the 54.2 outcome in March.

EU Manufacturing PMI and Unemployment Rate – The final round of April PMI readings should confirm the Eurozone Manufacturing PMI at 56.8, while March’s unemployment rate expected to fall at 9.4% from 9.5% last time, although developments remain uneven across countries and the high rate of youth unemployment remains a key challenge for politicians going ahead.

NZD employment report – New Zealand’s calendar has the Q1 employment report, projected to show a 0.8% gain (q/q, sa). The unemployment rate is seen to be unchanged at 5.2%.

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.


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.
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Re: Hotforex.com - Market Analysis and News.

Postby HFblogNews » Wed May 03, 2017 6:25 am

Date : 3rd May 2017.

MACRO EVENTS & NEWS OF 3rd May 2017.


Image

FX News Today

European Outlook: Asian markets were thinned out by holidays with Japan, South Korea and Hong Kong closed, CSI and ASX are in negative territory ahead of the Fed announcement. Poor Apple Inc earnings results weighed on sentiment but this didn’t prevent Taiwan markets to move slightly higher. No surprises are expected from the FOMC — not any change in rates nor any clear hint of the timing of the next move, but surveys suggest another rate hike in June. There’s no press conference or release of estimates this time around, thus the only update on Fed thinking will be via the policy statement, and that shouldn’t be too revealing. U.K. and U.S. stock futures are also down, pointing to a correction in European markets, which managed to extend gains into the close on Tuesday. The DAX cleared the 12500 mark yesterday and was at new all-time highs. The European calendar has German unemployment data for April as well as the first reading of Eurozone Q1 GDP, a German 10-year Bund sale and the U.K. Construction PMI for April.

FX Update: The dollar majors have been plying narrow ranges into the Fed’s policy announcement later today, where Bloomberg calculates there is a 12.8% chance for a 25 bp rate hike. EURUSD eked out a three-session peak at 1.0936, and is presently settled near net unchanged on the day at 1.0921 bid. USDJPY has settled to an orbit of the 112.00 level, below the one-month peak seen yesterday at 112.30. Sterling has come under pressure heading into the London open, with Cable have shed over 50 pips in making a 1.2884 low. This follows yesterday’s failure to test last week’s six-month high in the wake of a strong UK manufacturing report, and with all the signs suggesting that the Britain and the EU are heading into tough Brexit negotiations. Market conditions have been thin so far today, with Japan and Hong Kong out.

U.S. ACA repeal update: “very good progress” is being made on Obamacare repeal, said House Speaker Ryan, following remarks from Majority Whip Scalise that the modified healthcare plan would still protect those with pre-existing conditions. A vote on the bi-partisan intermediate government funding bill is scheduled for tomorrow, while a vote on ACA repeal has yet to be set. Meanwhile stocks and yields are heading lower after soft initial auto sales figures for April.

Main Macro Events Today

EU GDP – Eurozone GDP growth of 0.5% q/q, from 0.4% of Q4. In the past, variations in the timing of Easter have had an impact on quarterly growth rates and maybe it’s better to see Q1 and Q2 in conjunction to better assess the underlying trend.

US ADP Employment & ISM Services – The April ADP Employment report should post a 180k gain, below the March figure of 263k. April ISM services may bounce to 55.8 from 55.2, while EIA energy inventory data is due.

FOMC Statement – FOMC began its meeting and will announce its decision today. No change is widely expected. There’s no press conference this time around, or release of economic and dot-plot forecasts, so the statement will be scrutinized for hints on the normalization path.

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.
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