Oil Bulls Came Alive In July

By | July 31, 2017

Petroleum futures were little bit changed Monday morning after spiking above $49 a barrel last week.

Rates sped up higher last week when the Company of the Petroleum Exporting Countries and partners including Russia accepted decrease output by about 1.8 million barrels daily (bpd) up until March 2018. The majority of the production cuts are being taken on by Saudi Arabia, but others such as Nigeria are anticipated to comply moving on.

With U.S. production perhaps slowing and OPEC identified to re-balance oil markets, analysts say crude oil ought to hang around $50 a barrel for the year.

Analysts surveyed by Reuters anticipated U.S. light crude would balance $50.08 a barrel in 2017, down from $51.92 in June’s forecast.

WTI light sweet petroleum was at $49.02 a barrel today, having actually gotten about 8% in July, the best month-to-month gain in oil rates in 2017.

The material has been supplied by InstaForex Business – www.instaforex.com

Jonathon Alexander

Pound Recuperates Versus Majors

By | July 31, 2017

The pound came off from its early lows against its key equivalents in the European session on Monday.

The pound bounced off to 0.8933 versus the euro, 1.3132 versus the greenback and 1.2746 versus the franc, from its early lows of 0.8966, 1.3097 and 1.2673, respectively.

The pound that fell to a 6-day low of 144.82 versus the yen at 5:40 am ET reversed instructions and was trading at 145.16.

The next possible resistance for the pound is seen around 146.00 versus the yen, 1.28 versus the franc, 0.88 against the euro and 1.34 versus the greenback.

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

Jonathon Alexander

International macro overview for 31/07/2017

By | July 31, 2017

Global macro overview for 31/07/2017: A little disappointing data from the United States economy were launched last Friday. The University of Michigan Customer Confidence Index last reading for the month of July increased a little to 93.4 from the initial reading of 93.1, although was still below the final 95.1 for June. The reading was somewhat above market expectations of 93.1, however the most affordable figure considering that October 2016. The Present Economic Issue Index increased to 113.4 from 112.5 in June as the general gain was 4.0%over the year(the highest reading for 12 years). In contrast, the index of Consumer Expectations fell considerably from 83.9 to 80.5 although there was still a 3.5% yearly gain.The United States customers confidence may quickly take another dip as the lack of the tax and healthcare reforms assured by Trump is getting more bothersome even among the Republican politician Party members and citizens(clearly Democrats were against the Trump administration reforms because the beginning, so no surprise here ). The UoM Consumer Expectation sub index plainly shows the reducing expectations for a affordable and positive outcome surrounding the tax and healthcare reforms. This type of slide in customer expectations extremely often precedes financial declines and it appears like the Trump administration failure to pass their own reforms might be the crucial hint of a more customer sentiment. As in any industrialized economy, the customer spending and sentiment is among the most important pillars of the gross domestic product, so any substantial deep in belief and spending might have dire consequences for the US Dollar.Let’s now have a look at the United States Dollar technical photo at the H4 timeframe. So far the bulls were not able to break out above the nearest technical resistance at the level of 94.07 and now the marketplace is sliding to the technical support at the level of 93.02 once again. Additionally, the momentum indicator is unable to move above the fifty level regardless of the oversold market conditions, which suggest more weak point. The material has actually been offered by InstaForex Company -www.instaforex.com

Jonathon Alexander

Trading plan July 31, 2017 888011000 110888 The big picture: Important news about the U.S.A. As the brand-new week start, big news can be found in from the United States within four days (Tuesday, Wednesday, Thursday, and Friday). While on Wednesday, the July report for the private sector on work from the ADP was issued. Market conditions:EURUSDThe trend is moving upward. However, we anticipate the continuation of the trend and a development at 1.1776 upward and a rate of 1.1825. An alternative choice is to sell and break the 1.1645 level lower. Intrigue -the USDCHF rate is plainly attempting to start a new pattern up for this property too. We see an upward rate upward along with in USDJPY set. It is clear that someone tricks us which is unlikely that we will see patterns upward on the euro-dollar and on the dollar, at the same time. Although a couple of days, it was the case of the euro-franc. One of them will show the trend.The pound visibly moves upward.The product has actually been supplied by InstaForex Company-www.instaforex.com

By | July 31, 2017

The big picture: Important news about the USA.

As the new week start, big news came in from the US within four days (Tuesday, Wednesday, Thursday, and Friday).

While on Wednesday, the July report for the private sector on employment from the ADP was issued.

Market conditions:

EURUSD

The trend is moving upward.

Nevertheless, we expect the continuation of the trend and a breakthrough at 1.1776 upward and a rate of 1.1825.

An alternative option is to sell and break the 1.1645 level lower.

Analytics597ed97301ea1.jpg

Intrigue – the USDCHF rate is clearly trying to start a new trend upward for this asset too. We see an upward rate upward as well as in USDJPY pair. It is clear that someone deceives us which is unlikely that we will see trends upward on the euro-dollar and on the dollar, at the same time. Although a few days, it was the case of the euro-franc.

But one of them will show the trend.

The pound visibly moves upward.

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

Jonathon Alexander

Technical analysis of USDX for July 31, 2017 888011000 110888 The US dollar index remains in a bearish trend as the price continues to make lower lows and lower highs. The index stays trapped inside a bearish channel but we have reached the crucial long-term support levels. Blue lines- bearish channel The short-term resistance lies at 93.75-93.85 area. The support is discovered at 93.30. Breaking above resistance will open the way to a larger bounce to the cloud resistance at 94.20-94.50. Breaking support will break the ice to a push lower towards 92. Green rectangular shape- long-lasting assistance location The cost is approaching the weekly 200 MA and the support location of 92-93. The pattern is clearly bearish. A reversal from current levels in short-termtrend might lead to a bounce towards 95.50 which is our minimum bounce target.The product has been offered by InstaForex Company-www.instaforex.com

By | July 31, 2017

The US dollar index remains in a bearish trend as the price continues to make lower lows and lower highs. The index remains trapped inside a bearish channel but we have reached the important long-term support levels.

analytics597ed6ef14cad.png

Blue lines – bearish channel

The short-term resistance lies at 93.75-93.85 area. The support is found at 93.30. Breaking above resistance will open the way to a bigger bounce towards the cloud resistance at 94.20-94.50. Breaking support will open the way to a push lower towards 92.

analytics597ed74aa4493.png

Green rectangle – long-term support area

The price is approaching the weekly 200 MA and the support area of 92-93. The trend is clearly bearish. A reversal from current levels in short-term trend could result in a bounce towards 95.50 which is our minimum bounce target.

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

Jonathon Alexander

Daily analysis of USDX for July 31, 2017 888011000 110888 The USDX is still below the 200 SMA in the H1 chart and it is forming a possible double bottom around the 93.25 level. THe weak point is restricted and we can expect some consolidation moves in the very first days of the week. However, if the 93.25 level quits, additional declines are anticipated to happen towards 92.29 level. H1 chart’s resistance levels: 94.00/ 94.57 H1 chart’s support levels: 93.25/ 92.29 Trading suggestions for today: Based upon the H1 chart, place sell (brief)orders only if the USD index breaks with a bearish candlestick; the assistance level is at 93.25, take earnings is at 92.29 and stop loss is at 94.20. The material has been provided by InstaForex Business-www.instaforex.com

By | July 30, 2017

The USDX is still below the 200 SMA in the H1 chart and it is forming a possible double bottom around the 93.25 level. THe weakness is limited and we can expect some consolidation moves in the first days of the week. However, if the 93.25 level gives up, further declines are expected to happen towards 92.29 level.

1501441025_USDXH1.png

H1 chart’s resistance levels: 94.00 / 94.57

H1 chart’s support levels: 93.25 / 92.29

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD index breaks with a bearish candlestick; the support level is at 93.25, take profit is at 92.29 and stop loss is at 94.20.

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

Jonathon Alexander

Everyday analysis of GBP/USD for July 31, 2017 888011000 110888 GBP/USD remains finding resistance around 1.3153 and the bullish path continues to reinforce. The price action is consolidated above the 200 SMA at H1 chart and it indicates more gains in the short-term and if that level gives up, then we may expect more rallies towards the 1.3257 level. The MACD sign is still in the positive territory, favoring to the bulls. H1 chart’s resistance levels: 1.3153/ 1.3257 H1 chart’s assistance levels: 1.3058/ 1.2962 Trading recommendations for today: Based upon the H1 chart, buy (long)orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3153, take revenue is at 1.3257 and stop loss is at 1.3051. The product has been supplied by InstaForex Business -www.instaforex.com

By | July 30, 2017

GBP/USD remains finding resistance around 1.3153 and the bullish path continues to strengthen. The price action is consolidated above the 200 SMA at H1 chart and it points to more gains in the short-term and if that level gives up, then we might expect more rallies towards the 1.3257 level. The MACD indicator is still in the positive territory, favoring to the bulls.

1501441002_GBPUSDH1.png

H1 chart’s resistance levels: 1.3153 / 1.3257

H1 chart’s support levels: 1.3058 / 1.2962

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3153, take profit is at 1.3257 and stop loss is at 1.3051.

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

Jonathon Alexander

Treasuries Close Decently Greater After Seeing Early Volatility

By | July 28, 2017

After seeing considerable volatility early in the session, treasuries moved modestly greater throughout the trading day on Friday.

Bond costs hovered in favorable area in the afternoon after getting better and forth throughout the unchanged line in early trading. As a result, the yield on the benchmark ten-year note, which moves reverse of its cost, fell by 2.1 basis indicate 2.289 percent.

The higher nearby treasuries might partly reflect concerns about news the U.S. spotted an intercontinental ballistic missile launch from North Korea.

The Defense Department stated the missile was introduced from Mupyong-ni and took a trip about 1,000 kilometers prior to splashing down in the Sea of Japan.

The volatility seen earlier in the day came as traders absorbed a Commerce Department report showing financial activity increased in line with economist price quotes in the second quarter.

The report stated genuine gross domestic product climbed by 2.6 percent in the 2nd quarter after increasing by a downwardly revised 1.2 percent in the first quarter.

Financial experts had actually expected GDP to increase by 2.6 percent in the 2nd quarter compared to the 1.4 percent growth that had been reported for the previous quarter.

A different report from the University of Michigan revealed consumer belief deteriorated by a little less than initially approximated in the month of July.

The report said the consumer sentiment index for July was upwardly revised to 93.4 from the preliminary reading of 93.1. Financial experts had expected the index to be unrevised.

Regardless of the unexpected upward modification, the customer belief index is still down from the final June reading of 95.1.

Economic information is likely to continue to bring in attention next week, with the closely watched monthly jobs report due next Friday.

Traders are also most likely to keep an eye on reports on individual income and service, production and costs sector activity, and global trade.

The material has actually been offered by InstaForex Business – www.instaforex.com

Jonathon Alexander

Petroleum Up 8.6% For Biggest Weekly Gain Of The Year

By | July 28, 2017

Petroleum futures posted their greatest weekly gain of the year amid signs the global supply glut could be over within a year.

U.S. stockpiles continued to fall this week, and OPEC insists it will suppress products through 2018, if necessary.

Supply disruptions from Venezuela also enhanced oil.

On the need side of the equation, the U.S. economy grew at a 2.6% yearly pace in 2nd quarter, up dramatically from 1.2% in the very first 3 months of the year.

September West Texas Intermediate crude increased 67 cents, or 1.4%, to settle at $49.71 a barrel on the New york city Mercantile Exchange for the session.

Rates were up 8.6% this week, striking a 2-month peak.

The material has actually been offered by InstaForex Business – www.instaforex.com

Jonathon Alexander

Dollar Losing Ground After GDP Data Met Expectations

By | July 28, 2017

The dollar is compromising versus all of its major rivals Friday afternoon after the boost in the nation’s economic activity satisfied the expectations of financial experts.

Financial activity in the U.S. increased in line with economic expert quotes in the 2nd quarter, inning accordance with a report released by the Commerce Department on Friday. The report stated real gdp climbed by 2.6 percent in the second quarter after increasing by a downwardly revised 1.2 percent in the very first quarter.

Economic experts had anticipated GDP to increase by 2.6 percent in the 2nd quarter compared to the 1.4 percent development that had been reported for the previous quarter.

A report released by the University of Michigan on Friday showed customer belief in the U.S. degraded by a little less than at first approximated in the month of July. The report said the customer sentiment index for July was upwardly modified to 93.4 from the initial reading of 93.1. Financial experts had anticipated the index to be unrevised.

The dollar has dropped to around $1.1750 versus the Euro Friday afternoon, from an early high of $1.1670.

Eurozone economic confidence enhanced suddenly in July to near a decade-high, survey information from the European Commission revealed Friday. The economic belief index increased slightly to 111.2 in July from 111.1 in June. The score was forecast to be up to 110.8. This was the greatest rating considering that the 2007 monetary crisis.

German inflation sped up unexpectedly to a 3-month high in July on energy costs, preliminary data from Destatis revealed Friday. Inflation, based on customer costs, grew 1.7 percent yearly, somewhat faster than the 1.6 percent increase published in June. Inflation was forecast to relieve to 1.5 percent.

French customer rate inflation stayed steady in July, provisionary price quote from the statistical office Insee showed Friday. Customer costs climbed up 0.7 percent year-on-year in July, the exact same rate as seen in June and matched economic experts’ expectations.

France’s economic growth stabilized in the 2nd quarter, very first quote from the analytical office Insee revealed Friday. Gross domestic product broadened 0.5 percent sequentially, the very same rate of development as seen in the very first quarter and in line with expectations.

The buck has fallen to around $1.3140 against the pound sterling this afternoon, from an early high of $1.3067.

Customer self-confidence in the UK continued to degrade in July, the latest survey from GfK exposed on Friday with an index rating of -12. That missed out on forecasts for a score of -11, and it was down from -10 in June.

The greenback has actually tumbled to around Y110.765 versus the Japanese Yen this afternoon, from an early high of Y111.286.

The unemployment rate in Japan came in at a seasonally adjusted 2.8 percent in June, the Ministry of Internal Affairs and Communications stated on Friday. That was below expectations for 3.0 percent and below 3.1 percent in May.

The average of family spending in Japan was up 2.3 percent on year in June, the Ministry of Internal Affairs and Communications said on Friday. That was well above expectations for a boost of 0.5 percent following the 0.1 percent decline in May.

Overall across the country consumer costs in Japan were up 0.4 percent on year in June, the Ministry of Internal Affairs and Communications said on Friday, in line with expectations and the same from the previous month.

Nationwide core CPI, which omits food rates, likewise got 0.4 percent on year, again unchanged and as anticipated.

Retail sales in Japan were up a seasonally changed 0.2 percent on month in June, the Ministry of Internal Affairs and Communications stated on Friday. That was shy of expectations for a gain of 0.4 percent following the 1.5 percent decrease in May.

The material has been offered by InstaForex Business – www.instaforex.com

Jonathon Alexander