Monthly Archives: October 2017

TSX Combines Above 16,000, Energy Stocks Are Hot– Canadian Commentary

By | October 31, 2017

Canadian stocks continued to rise Tuesday, with the S&P/ TSX Composite Index closing above 16,000 for the second consecutive day.

The TSX Composite was up, a brand-new record high. The modest advance was again powered by gains in the energy sector, while financials edged greater after a healthy check-up from ratings agency Fitch.

Energy stocks jumped 1.3%. Crude oil futures continued to rise Tuesday, with London’s Brent crude touching its highest in 2 years.

U.S. WTI light sweet petroleum, meanhwhile, added 23 cents to settle at $54.38 a barrel, the highest because February.

Oil rates have surged on speculation OPEC will extend its supply quota deal with Russia. The cartel fulfills in Vienna November 30. Also, motivating U.S. economic information raised demand expectations for energy products.

In dull economic news, Canada’s real gdp edged down 0.1% in August, after being basically the same in July. Declines in manufacturing and mining, quarrying and oil and gas extraction more than balanced out increases in most sectors, Statistis Canada stated.

Scores company Fitch preserved its highest score on the Canadian banking sector, however singled out CIBC (CM.TO) with a negative outlook due to direct exposure to risky home mortgages.

“Uncertainties stay regarding the prospective effect of recent mortgage reform statements on the wider home mortgage market,” Fitch said in a report. “As such, a faster cost correction that is extended and/or a downturn in the real estate market will likely affect earnings development for all the banks.

“CIBC has the largest direct exposure to Canadian consumers at 76.9 percent of overall Canadian loans compared to the “Huge Six” Canadian banks’ peer average of 66.8 percent,” Fitch said.

CIBC shares dropped 0.6%.

WestJet (WJA.TO) reported a strong quarterly profit as passenger traffic increased. Shares slipped 0.5%.

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Treasuries Close Nearly Flat Ahead Of Fed Statement

By | October 31, 2017

After moving significantly greater during the two previous sessions, treasuries revealed a lack of instructions during trading on Tuesday.

Bond prices invested the day recuperating and forth throughout the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves reverse of its rate, inched up by less than a basis point to 2.376 percent.

The choppy trading on the day came as traders looked ahead to the Federal Reserve’s monetary policy statement on Wednesday.

The Fed is extensively expected to leave interest rates unchanged, but traders will be searching for clues about the possibility of a rate trek in December.

Traders might likewise have actually been reluctant to make significant relocations ahead of the release of the closely viewed monthly jobs report on Friday.

Subsequently, the markets shrugged off a report from the Conference Board revealing a substantial enhancement in consumer self-confidence in the month of October.

The Conference Board said its consumer self-confidence index leapt to 125.9 in October from an upwardly revised 120.6 in September. Financial experts had actually expected the index to inch up to 121.0 from the 119.8 originally reported for the previous month.

With the much bigger than expected boost, the consumer confidence index reached its greatest level because hitting 128.6 in December of 2000.

The Fed announcement is likely to be in the spotlight on Wednesday, eclipsing reports on economic sector work, production activity, and construction costs.

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Crude Oil On Fire, Brent Hits 2-year High

By | October 31, 2017

Crude oil futures continued to rise Tuesday, with London’s Brent crude touching its highest in 2 years.

December Brent added 47 cents, or 0.8%, to end at $61.37 a barrel, with the agreement up about 8% for the month.

U.S. WTI light sweet petroleum, meanhwhile, included 23 cents to settle at $54.38 a barrel, the highest given that February. WTI was up 4.7% in October.

Oil prices have surged on speculation OPEC will extend its supply quota deal with Russia. The cartel meets in Vienna November 30. Motivating U.S. financial data raised need expectations for energy products.

Customer self-confidence in the U.S. saw a substantial enhancement in the month of October, the Conference Board revealed in a report released on Tuesday.

The Conference Board stated its consumer confidence index jumped to 125.9 in October from an upwardly modified 120.6 in September. Economists had actually anticipated the index to inch as much as 121.0 from the 119.8 originally reported for the previous month.

The American Petroleum Institute is out with its market survey this afternoon, followed by main numbers from the Energy Information Administration tomorrow morning.

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Dollar Mixed Ahead Of Fed Announcement

By | October 31, 2017

The dollar is turning in a combined performance versus its significant competitors Tuesday afternoon. The buck is gaining ground against the Japanese Yen after the Bank of Japan decreased its inflation outlook, however is down versus the British pound ahead of Thursday’s policy choice from the Bank of England.

The Federal Reserve will conclude its 2-day policy meeting Wednesday afternoon. The Fed is commonly anticipated to keep rate of interest the same, however traders will keep a close eye on the accompanying declaration.

Additionally, President Donald Trump plans to announce his candidate for the next Fed Chair on Thursday. Numerous media sources have reported that Trump plans to nominate Fed Governor Jerome Powell to replace existing Fed Chair Janet Yellen.

Development in Chicago-area company activity all of a sudden accelerated in the month of October, according to a report launched by MNI Indicators on Tuesday.

MNI Indicators stated its Chicago company barometer increased to 66.2 in October from 65.2 in September, with a reading above 50 showing growth. The boost stunned economic experts, who had anticipated the barometer to drop to 61.0.

Customer self-confidence in the United States saw a considerable enhancement in the month of October, the Conference Board revealed in a report launched on Tuesday.

The Conference Board said its customer confidence index jumped to 125.9 in October from an upwardly revised 120.6 in September. Economic experts had actually anticipated the index to inch up to 121.0 from the 119.8 originally reported for the previous month.

The dollar reached an early high of $1.1621 versus the Euro Tuesday, however has because slipped to around $1.1650.

The euro location economy broadened at a faster than expected speed in the 3rd quarter and the joblessness rate was up to a more than eight-year low, while inflation slowed unexpectedly, main information exposed Tuesday.

Gdp climbed up 0.6 percent quarter-on-quarter, but the rate was somewhat slower than the modified 0.7 percent expansion seen in the 2nd quarter, initial flash price quote published by Eurostat revealed.

Economists had actually anticipated the sequential growth rate to alleviate to 0.5 percent from the 2nd quarter’s initial price quote of 0.6 percent.

Eurozone inflation relieved unexpectedly in October, though marginally, flash information from Eurostat revealed Tuesday. Inflation slowed to 1.4 percent in October from 1.5 percent in September. Financial experts had actually anticipated the inflation to stay stable at 1.5 percent.

The euro location unemployment rate reached its lowest level because January 2009, information from Eurostat revealed Tuesday. The out of work rate fell to 8.9 percent in September from 9 percent in August. This was the most affordable because January 2009. The rate was anticipated to remain at 9 percent.

France’s economy broadened as anticipated in the 3rd quarter, very first quote from the statistical workplace Insee revealed Tuesday. Gross domestic product grew 0.5 percent sequentially, in line with expectations, but slightly slower than the revised 0.6 percent growth published in the second quarter.

France’s inflation increased in October on higher food rates, provisionary price quote from the analytical workplace Insee showed Tuesday. Consumer cost inflation increased to 1.1 percent in October from 1 percent in September. Inflation was anticipated to stay unchanged at 1 percent. Final data is due on November 15.

France’s customer costs increased in September after falling in the previous month, figures from the analytical office INSEE revealed Tuesday. Customer spending rose 0.9 percent month-over-month in September, reversing a 0.2 percent drop in August.

The dollar has actually dropped to around $1.3275 against the pound sterling this afternoon, from a high of $1.3190 today.

UK customer confidence deteriorated in October on issues about broader financial potential customers however determination to purchase enhanced for the third straight month, study information from GfK showed Tuesday. The customer sentiment index fell by one point to -10 in October.

The Bank of Japan kept its monetary stimulus the same, on Tuesday, despite lowering its inflation outlook.

Guv Haruhiko Kuroda and his board members chosen by an 8-1 bulk vote to hold its target of raising the amount of outstanding JGB holdings at an annual rate of about JPY 80 trillion, the bank stated in a statement.

The bank will acquire federal government bonds so that the yield of 10-year JGBs will stay at around absolutely no percent.

The board likewise decided to preserve the -0.1 percent rate of interest on bank accounts that banks preserve at the bank.

Inflation forecast for the financial 2017 was lowered to 0.8 percent from 1.1 percent and the projection for 2018 to 1.4 percent from 1.5 percent. The outlook for the financial 2019 was kept at 2.3 percent.

The greenback slipped to an early low of Y112.948 against the Japanese Yen Tuesday, however has because rebounded to around Y113.700.

Japan’s commercial production declined at a slower-than-expected speed in September, preliminary figures from the Ministry of Economy, Trade and Industry said on Tuesday.

Industrial production dropped a seasonally adjusted 1.1 percent month-over-month in September, reversing a 2.0 percent increase in August. That was listed below the 1.6 percent decline anticipated by economists.

Japan’s housing starts dropped for the 3rd straight month in September, data from the Ministry of Land, Facilities, Transport and Tourism revealed Tuesday. Housing begins declined 2.9 percent year-on-year in September, bigger than August’s 2 percent decline but smaller sized than the anticipated fall of 3.2 percent.

Japan’s joblessness rate held steady for the 3rd straight month in September, in line with expectations, data from the Ministry of Internal Affairs and Communications revealed Tuesday. The unemployed rate came in at 2.8 percent in September, the very same rate as in August.

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Worldwide macro summary for 31/10/2017

By | October 31, 2017

Worldwide macro overview for 31/10/2017: The recent weeks have actually left investors dramatically unfavorable about the United States Dollar. Just two months earlier, the market discussed d the low probability of tax cut approval and a rate trek in December. Today, both scenarios are standard, which, together with the worries of a US-North Korean dispute and strong rises in energy and commercial products rates of almost 50 bps, have pressed the US ten-year bonds higher. The space for more fortifying of the US Dollar is still huge. Especially, if the international investors think about that the marketplace in less than 50 %discount the rates of interest hikes recommended in the Fed forecasts for 2018. At the same time, the process of decrease of the balance sheet total and the effect of increasing the financial obligation limit on the absorption of excess liquidity in the monetary sector are not adequately taken into account.On the other hand, the follower to Yellen appears to be settled. It is almost certain it will be Jerome Powell. This is not a danger to the USD, since such a choice has already been priced in. It deserves keeping in mind, however, that the FOMC decision-making board will alter somewhat towards “hawkish “point of view if Taylor or Warsh will make it to the Board of Governors.Let’s now have a look at the US Dollar Index technical picture on the H4 timespan

. The series of higher highs and higher lows continues. There is only one technical support delegated be evaluated in order to continue the local uptrend and it is at the level of 94.26. Only a continual breakout listed below the golden trend-line assistance would change the predisposition to bearish again.< img width="450"src="http://qkfx.com/wp-content/uploads/2017/10/global-macro-overview-for-31102017.jpg

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” alt=” analytics59f877fd3a721.jpg”/ > The material has actually been offered by InstaForex Business – www.instaforex.com

Italy Jobless Rate Stays Stable As Predicted In September

By | October 31, 2017

Italy’s unemployment rate held stable in September, in line with expectations, data from the analytical office Istat revealed Tuesday.

The seasonally adjusted joblessness rate was available in at 11.1 percent in September, the exact same rate as in August.

In the matching month in 2015, the jobless rate was 11.8 percent.

The variety of unemployed declined by 0.2 percent from the previous month to 2.89 million in September.

The unemployed rate amongst youth, aged in between 15 and 24, increased to 35.7 percent from 35.1 percent in August.

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Technical analysis of USD/JPY for October 31, 2017 888011000 110888 USD/JPY is under pressure. The pair tape-recorded lower tops and lower bottoms since October 27, which confirmed an unfavorable outlook. The down momentum is additional enhanced by both declining 50-period and 20-period moving averages. The relative strength index is bearish and requires a more drop.To conclude, as long as 113.65 hangs on the upside, look for a new test to 112.95 as well as to 112.70 in extension. If the price relocations in the opposite direction, a long position is recommended above 113.65 with a target at 113.85. Chart Explanation: The black line reveals the pivot point. The existing price above the pivot point shows a bullish position, while the cost below the pivot point is a signal for a brief position. The red lines show the assistance levels and the green linesuggests the resistance level. These levels can be used toleave and enter trades.Strategy: SELL, Stop Loss: 113.65, Take Profit: 112.95 Resistance levels : 113.85, 114.05 and 114.45 Support Levels: 112.95, 112.70, 112.40 The material has actually been offered by InstaForex Business-www.instaforex.com

By | October 31, 2017

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USD/JPY is under pressure. The pair recorded lower tops and lower bottoms since October 27, which confirmed a negative outlook. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index is bearish and calls for a further drop.

To conclude, as long as 113.65 holds on the upside, look for a new test to 112.95 and even to 112.70 in extension.

Alternatively, if the price moves in the opposite direction, a long position is recommended above 113.65 with a target at 113.85.

Chart Explanation: The black line shows the pivot point. The current price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a short position. The red lines show the support levels and the green line indicates the resistance level. These levels can be used to enter and exit trades.

Strategy: SELL, Stop Loss: 113.65, Take Profit: 112.95

Resistance levels: 113.85, 114.05 and 114.45 Support Levels: 112.95, 112.70, 112.40

The material has been provided by InstaForex Company – www.instaforex.com

Bitcoin analysis for October 31, 2017 888011000 110888 The Bitcoin( BTC )has been trading upwards. The price evaluated the level of $6.230. The Iranian federal government has actually been conducting a research into the economic and infrastructural aspects of preparing for bitcoin use in its country. According to the ministry of information technology,”plans are being made”to assemble the facilities for the digital currency”as early as possible.”Technical image looks bullish today.Trading suggestions: Inning accordance with the H1 timespan, I found a broken pivot resistance 1 at the cost of $6.200, which is a sign that buyers are in control. My suggestions is to expect possible buying chances. The upward targets are set at the rate of$6.311(pivot resistance 2)and at the rate of$6.400 (pivot resistance 3). Support/Resistance$6.109– Pivot level$6.311– Pivot resistance 2$6.400– Pivot resistance 3$5.995– Pivot assistance 1 With InstaForex you can earn on cryptocurrency’s motions today.Just open a deal in your MetaTrader 4. The product has been offered by InstaForex Company-www.instaforex.com

By | October 31, 2017

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The Bitcoin (BTC) has been trading upwards. The price tested the level of $6.230. The Iranian government has been conducting a research into the economic and infrastructural aspects of preparing for bitcoin use in its country. According to the ministry of information technology, “arrangements are being made” to put together the infrastructure for the digital currency “as early as possible.” Technical picture looks bullish today.

Trading recommendations:

According to the H1 time frame, I found a broken pivot resistance 1 at the price of $6.200, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $6.311 (pivot resistance 2) and at the price of $6.400 (pivot resistance 3).

Support/Resistance

$6.109 – Pivot level

$6.311 – Pivot resistance 2

$6.400 – Pivot resistance 3

$5.995 – Pivot support 1

With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader 4.

The material has been provided by InstaForex Company – www.instaforex.com

Technical analysis of USD/CHF for October 31, 2017 888011000 110888 NZD/USD is anticipated to trade with a bullish outlook. The pair broke and posted a rebound above its 20 -and 50-period moving averages. In addition, the 50-period moving average is showing up. The relative strength index does not have downward momentum. The United States dollar turned weaker ahead of the Federal Reserve monetary policy conference beginning Tuesday and the United States October jobs report due Friday. Financiers also grew careful in the middle of news that Paul Manafort, President Donald Trump’s previous project supervisor was dealing with charges in the Russian probe.Hence, as long as 0.9935 is an assistance, search for a more advance with targets at 1.0030 and 1.0050 in extension. Chart Description: The black line shows the pivot point. Today rate above the pivot point suggests a bullish position, and the price below the pivot points shows a short position. The red lines reveal the assistance levels and the green lineshows the resistance levels. These levels can be utilized toleave and go into trades.Strategy: PURCHASE, Stop Loss: 0.9935, Take Earnings: 1.0030 Resistance levels: 1.0030, 1.0050, and 1.0075 Assistance levels: 0.9900, 0.9870, and 0.9850 The material has been offered by InstaForex Business-www.instaforex.com

By | October 31, 2017

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NZD/USD is expected to trade with a bullish outlook. The pair posted a rebound and broke above its 20- and 50-period moving averages. In addition, the 50-period moving average is turning up. The relative strength index lacks downward momentum.

The US dollar turned weaker ahead of the Federal Reserve monetary policy meeting starting Tuesday and the US October jobs report due Friday. Investors also grew cautious amid news that Paul Manafort, President Donald Trump’s former campaign manager was facing charges in the Russian probe.

Hence, as long as 0.9935 is a support, look for a further advance with targets at 1.0030 and 1.0050 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 0.9935, Take Profit: 1.0030

Resistance levels: 1.0030, 1.0050, and 1.0075

Support levels: 0.9900, 0.9870, and 0.9850

The material has been provided by InstaForex Company – www.instaforex.com