Re: Hotforex.com - Market Analysis and News.
Posted: Thu May 31, 2018 6:55 am
Date : 31st May 2018.
MACRO EVENTS & NEWS OF 31st May 2018.
FX News Today
Asian Market Wrap: 10-year Treasury yields are down -0.5 bp at 2.850%, while yields rose across Asia as stock markets rallied. 10-year GDP yields are up 0.5 bp at 0.028%, Australia and China underperformed. Like European and U.S. stocks yesterday, equity markets across Asia recovered from the bout of heightened risk aversion as Eurozone breakup risks were being priced out again. China’s official manufacturing PMI unexpectedly improved which saw CSI 300 and Shanghai Comp outperforming with gains of 1.81% and 1.55% respectively. Topix and Nikkei are up 0.56% and 0.81% and the Hang Seng gained 0.91%. There is still plenty of risk with Sino-American trade relations in focus and U.S. tariff exemptions set to run out tomorrow and the Italian crisis is also far from over. So volatility is likely to remain high over the summer, complicating the tasks for global central banks that were heading for more policy normalisation.
FX Action: USDJPY has settled in the mid 108.0s after failing to sustain gains above 109.0 yesterday. Yen crosses are also lower, reflecting a generally firmer yen, albeit moderately so. This is turn reflects a more circumscribed view markets are taking of the situation in Italy, which has returned a bid to the Japanese currency. The Washington Post has also reported, citing three unnamed sources, that President Trump will later today announce tariffs on steel and aluminium on imports from Canada, Mexico and the EU. The month’s end has reportedly generated some demand for the Japanese currency, too. In data, Japan’s April industrial production disappointed at 0.3% m/m growth. The median forecast had been for 1.4% m/m growth, though the data hasn’t had a bearing on forex markets.
Charts of the Day
Support & Resistance Levels
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.
Please note that times displayed based on local time zone and are from time of writing this report.
Click HERE to access the full HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!
Click HERE to READ more Market news.
Andria Pichidi
Market Analyst
HotForex
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
MACRO EVENTS & NEWS OF 31st May 2018.
FX News Today
Asian Market Wrap: 10-year Treasury yields are down -0.5 bp at 2.850%, while yields rose across Asia as stock markets rallied. 10-year GDP yields are up 0.5 bp at 0.028%, Australia and China underperformed. Like European and U.S. stocks yesterday, equity markets across Asia recovered from the bout of heightened risk aversion as Eurozone breakup risks were being priced out again. China’s official manufacturing PMI unexpectedly improved which saw CSI 300 and Shanghai Comp outperforming with gains of 1.81% and 1.55% respectively. Topix and Nikkei are up 0.56% and 0.81% and the Hang Seng gained 0.91%. There is still plenty of risk with Sino-American trade relations in focus and U.S. tariff exemptions set to run out tomorrow and the Italian crisis is also far from over. So volatility is likely to remain high over the summer, complicating the tasks for global central banks that were heading for more policy normalisation.
FX Action: USDJPY has settled in the mid 108.0s after failing to sustain gains above 109.0 yesterday. Yen crosses are also lower, reflecting a generally firmer yen, albeit moderately so. This is turn reflects a more circumscribed view markets are taking of the situation in Italy, which has returned a bid to the Japanese currency. The Washington Post has also reported, citing three unnamed sources, that President Trump will later today announce tariffs on steel and aluminium on imports from Canada, Mexico and the EU. The month’s end has reportedly generated some demand for the Japanese currency, too. In data, Japan’s April industrial production disappointed at 0.3% m/m growth. The median forecast had been for 1.4% m/m growth, though the data hasn’t had a bearing on forex markets.
Charts of the Day
Support & Resistance Levels
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.
Please note that times displayed based on local time zone and are from time of writing this report.
Click HERE to access the full HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!
Click HERE to READ more Market news.
Andria Pichidi
Market Analyst
HotForex
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.