Re: Hotforex.com - Market Analysis and News.
Posted: Tue Apr 10, 2018 5:38 am
Date : 10th April 2018.
MACRO EVENTS & NEWS OF 10th April 2018.
FX News Today
Asian Market Wrap: Conciliatory words on trade from China’s President Xi Jinping, who pledged greater openness in sectors from banking to auto manufactures while warning against a return to a “Cold War mentality” helped to calm nerves and underpinned stocks, while weighing on safe haven assets, especially in the U.S.. 10-year JGB yields are up 0.1 bp at 0.025%, 10-year Treasury yields are up 2.6 bp and back above the 2.8% mark. Stock markets meanwhile have moved broadly higher, Nikkei and Topix are up 0.54% and 0.33% respectively, the Hang Seng outperformed again and gained 1.12% so far and the CSI 300 is up 0.48%. U.S. stock futures are rallying and up more than 1% across, Dow Jones, S&P and NASDAQ, with the latter outperforming. Oil prices also benefited from the risk on environment and the front end USOil future is trading at USD 63.83 per barrel. An all round risk on environment, then, at least for now.
FX Update: USDJPY edged out a two-session high following a fresh bout of general yen weakness. Chinese President Xi’s keynote speech earlier mollified investor anxieties by de-ratcheting the trade war rhetoric by pledging that Chinese economy will open up and will lower import tariffs on vehicles, and although details were limited, this managed to lift stock markets in Asia, along with U.S. and European stock index futures. The Nikkei 225 gained by 0.8%, while S&P 500 futures were showing a 1.1% advance. The yen weakened against this backdrop as safe haven positions unwound. USD-JPY clocked a two-session high at 107.24 before settling slightly off here. The pair has support at 106.77-80.
Charts of the Day
Main Macro Events Today
* USA PPI – It is expected to show a further improvement in sentiment and a rise in the headline reading to 2.6% 3 from 2.5% last time. MoM figures are expected to see the headline slip to 0.1% from 0.2% and the key Core figure remain unchanged at 0.2%.
* CAD Housing Starts – Are expected to fall to 220.0k unit pace in March from 229.7k in February. Building permit values, also due Tuesday, are expected to dip 1.0% (m/m, sa) in February after the 5.6% bounce in January. The permits and starts reports lead a full week of housing data. The new housing price index (Thursday) is seen falling 0.1% (m/m, sa) in February after the flat reading in January. Teranet/National HPI for March is due Thursday. Existing home sales (Friday) close out the week, with a 18.0% y/y decline anticipated in March following the 16.9% y/y drop in February.
Support and Resistance levels
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.
Please note that times displayed based on local time zone and are from time of writing this report.
Click HERE to access the full HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!
Click HERE to READ more Market news.
Stuart Cowell
Senior 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.
MACRO EVENTS & NEWS OF 10th April 2018.
FX News Today
Asian Market Wrap: Conciliatory words on trade from China’s President Xi Jinping, who pledged greater openness in sectors from banking to auto manufactures while warning against a return to a “Cold War mentality” helped to calm nerves and underpinned stocks, while weighing on safe haven assets, especially in the U.S.. 10-year JGB yields are up 0.1 bp at 0.025%, 10-year Treasury yields are up 2.6 bp and back above the 2.8% mark. Stock markets meanwhile have moved broadly higher, Nikkei and Topix are up 0.54% and 0.33% respectively, the Hang Seng outperformed again and gained 1.12% so far and the CSI 300 is up 0.48%. U.S. stock futures are rallying and up more than 1% across, Dow Jones, S&P and NASDAQ, with the latter outperforming. Oil prices also benefited from the risk on environment and the front end USOil future is trading at USD 63.83 per barrel. An all round risk on environment, then, at least for now.
FX Update: USDJPY edged out a two-session high following a fresh bout of general yen weakness. Chinese President Xi’s keynote speech earlier mollified investor anxieties by de-ratcheting the trade war rhetoric by pledging that Chinese economy will open up and will lower import tariffs on vehicles, and although details were limited, this managed to lift stock markets in Asia, along with U.S. and European stock index futures. The Nikkei 225 gained by 0.8%, while S&P 500 futures were showing a 1.1% advance. The yen weakened against this backdrop as safe haven positions unwound. USD-JPY clocked a two-session high at 107.24 before settling slightly off here. The pair has support at 106.77-80.
Charts of the Day
Main Macro Events Today
* USA PPI – It is expected to show a further improvement in sentiment and a rise in the headline reading to 2.6% 3 from 2.5% last time. MoM figures are expected to see the headline slip to 0.1% from 0.2% and the key Core figure remain unchanged at 0.2%.
* CAD Housing Starts – Are expected to fall to 220.0k unit pace in March from 229.7k in February. Building permit values, also due Tuesday, are expected to dip 1.0% (m/m, sa) in February after the 5.6% bounce in January. The permits and starts reports lead a full week of housing data. The new housing price index (Thursday) is seen falling 0.1% (m/m, sa) in February after the flat reading in January. Teranet/National HPI for March is due Thursday. Existing home sales (Friday) close out the week, with a 18.0% y/y decline anticipated in March following the 16.9% y/y drop in February.
Support and Resistance levels
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.
Please note that times displayed based on local time zone and are from time of writing this report.
Click HERE to access the full HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!
Click HERE to READ more Market news.
Stuart Cowell
Senior 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.