Americas Roundup: Dollar Recovers After Selloff on Wednesday on Trump Remarks, United States Stocks Dip, Oil Near Flat in Strong Week

By | April 13, 2017

Market Roundup

• & bull; United States weekly unemployed claims indicate tightening labor market, 234k v 245k projection; 4-wk Avg -3 k. • & bull; United States PPI last demand y/y 2.3% v 2.4% forecast, 2.2% previous, m/m -0.1% v 0% forecast, 0.3% previous. • & bull; US core PPI y/y 1.6% v 1.8% forecast, 1.5% previous; m/m 0% v 0.2% projection, 0.3% previous. • & bull; U Mich prelim sentiment 98 v 96.5 projection, 96.9 previous, expectations prelim 86.9 v 86 projection, 86.5 previous. • & bull; U Mich 1/5-yr inflation prelim unchanged at 2.5% 1-yr & & 2.4%5-yr. & bull; Senior United States Treasury official: US to reiterate to IMF/G20 meetings next week its function in monitoring forex, global imbalances. • & bull; Loan development stalls despite profit, trading gains at some huge banks. • & bull; Italy March EU-harmonized CPI gained a modified 1.9% m/m, 1.4% y/y. • & bull; IEA: Worldwide oil market nears balance even as stocks increase, IEA trims 2017 oil demand growth anticipated by 40,000 bpd.

Looking Ahead – Economic Data (GMT)

• & bull; No Substantial

Data Looking Ahead – Events, Other Releases (GMT)

• & bull; No Substantial Occasions

Currency Summaries EUR/USD is likely to discover support at 1.0562 levels and currently trading at 1.0617 levels. The pair has actually made session high at 1.0635 and hit lows at 1.0608 levels. The euro declined versus the United States dollar on Thursday as the dollar recovered from its previous day'' s slide as investors discounted remarks by President Donald Trump. Dollar took a heavy hit after Trump'' s comments to the Wall Street Journal, in which he said the strength of the dollar would harm the economy. But after losing 0.6 percent on Wednesday, its biggest one-day fall in more than 3 weeks, the dollar recovered against a basket of major currencies that tracks its value. Trump'' s remarks went against a long-standing practice of both U.S. Democratic and Republican administrations of refraining from discussing policy set by the independent Federal Reserve. It is also uncommon for a president to discuss the worth of the dollar, a subject usually delegated the United States Treasury secretary. The dollar has shed 1.7 percent against the yen up until now today, its 4th week lower against the safe-haven Japanese currency in 5, as a rise in tensions in Asia and Europe prompted yen purchasing. The euro fell 0.5 percent to $1.0619 after touching a one-week high in overnight trading. GBP/USD is supported in the series of 1.2480 levels and presently trading at 1.2503 levels. It reached session high at 1.2531 and dropped to session low at 1.2500 levels. Britain'' s pound rose against the dollar on Thursday as positive financial information, and jitters ahead of the preliminary of the French presidential, pulled the pound up. Consumer prices in Britain increased in March by 2.3 percent compared to a year earlier above the Bank of England'' s target while revenues including bonus offers increased by an annual 2.3 percent in the 3 months to February. British producers reported the fastest export growth in more than 2 years in early 2017 and the services sector likewise recovered to acquire its greatest sales growth considering that last June'' s Brexit vote, a service study revealed on Thursday. Britain'' s pound got for the fourth succeeding day versus the dollar in early London trade, but lost momentum in the US session as the greenback recuperated from a dip following U.S. President Donald Trump'' s discuss its strength. It last traded at $1.2503, down 0.2 percent on the day, however still up 1 percent for the week. USD/CAD is supported at 1.3260 levels and is trading at 1.3331 levels. It has actually made session high at 1.3334 and lows at 1.3227 levels. The Canadian dollar decreased versus its U.S. equivalent on Thursday, as the lonnie was pushed by geopolitical stress and more powerful dollar throughout the board. Financiers were worried about the upcoming French presidential election as well as possible more U.S. military action versus Syria and news of a massive bomb being dropped by the United States in eastern Afghanistan on Thursday added to unpredictability. oil prices were little changed on modest volume on Thursday, in a week in which unrefined benchmarks recovered more of March'' s losses on increased hopes world supply and need were nearing balance.On the data front, Canadian production sales fell 0.2 percent in February after 3 successive months of increases, weighed down by decreases in the car assembly sector, data from Statistics Canada showed. The decrease was not as high as the 0.7 percent decrease financial experts had actually anticipated, while sales volumes rose 0.1 percent. AUD/USD is supported around 0.7550 levels and presently trading at 0.7570 levels. It struck session high at 0.7590 and made session lows at 0.7564 levels. The Australian dollar dipped slightly versus United States dollar on Thursday as geopolitical stress took on more significance after news that the United States had actually dropped a massive bomb in Afghanistan. The U.S. armed force said it dropped “the Mom of All Bombs,” the biggest non-nuclear gadget it has ever released in battle, on a network of tunnels and caves used by Islamic State in eastern Afghanistan on Thursday. The Australian dollar dipped to trade at 0.7564 from an earlier high of 0.7564 hit following upbeat readings on work in your home and trade in China where both imports and exports beat expectations. Australia'' s unemployed rate steadied at 5.9 percent in March as work surged one of the most in 1-1/2 years, a relief for the nation'' s reserve bank which had actually been stressed over current labour market softness. Information from the Australian Bureau of Stats (ABS) revealed the out of work rate held at a 13-month peak of 5.9 percent, in line with expectations. Yet work leapt 64,900, far surpassing anticipation of a 20,000 boost. Equities Recap European shares were led lower by declines in the bank sector on Thursday, leaving an index of the continent'' s top companies to nurse a weekly loss. The UK'' s benchmark FTSE 100 closed down by 0.4 percent, FTSEurofirst 300 ended the day down by 0.47 percent, Germany'' s Dax ended down 0.4, and France’& rsquo; s CAC ended up the day down by 0.7 percent. Significant U.S. stock indexes fell on Thursday for a 3rd straight day as financiers weighed profits reports from big U.S. banks and geopolitical stress, while the tech sector succumbed to a tenth successive session. Dow Jones shut down by 0.66 percent, S&P 500 ended down 0.67 percent, Nasdaq ended up the day down by 0.52 percent. Treasuries Recap U.S. Treasury yields fell on Thursday, with benchmark yields striking near five-month lows as President Donald Trump'' s favorable view of low-interest rates heightened a bond market rally that was underpinned by geopolitical worries. The yield on 10-year Treasury notes fell 14 basis points, for the biggest weekly decline considering that January 2016, while the space between 10-year and two-year yields contracted to under 103 basis points, the tightest because Nov. 9 after Trump'' s presidential win. Products Wrap-up Gold prices reduced from five-month highs on Thursday as the dollar rebounded from a slide activated by remarks from U.S. President Donald Trump that the greenback was too strong and that he would choose the Federal Reserve keep rate of interest low. Area gold was up 0.06 percent at $1,286.84 an ounce by 2:26 p.m. EDT (1826 GMT), having earlier hit its greatest given that early November at $1,288.64 an ounce. U.S. gold futures for June delivery ended 0.8 percent greater at $1,288.50. Oil rates were little changed in modest volume on Thursday, during a week where unrefined standards recovered more of March'' s losses on increased hopes world supply and need were nearing balance. Benchmark Brent crude futures settled up 3 cents to $55.89 a barrel after touching a one-month high on Wednesday. U.S. West Texas Intermediate crude futures settled up 7 cents at $53.18 a barrel. Both criteria were set for a 3rd successive weekly gain.

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

Jonathon Alexander

Day-to-day analysis of USDX for April 14, 2017 888011000 110888 Regardless of the strong decrease lived throughout Wednesday’s session following Trump’s comments on the greenback, USDX recovered from the lows posted after the headings were reported to journalism and now it’s consolidating around 100.54, where it lies the 200 SMA at H1 chart. If the index does a breakout above 100.60, then it can evaluate the 101.00 psychological area. H1 chart’s resistance levels: 100.54/ 100.97 H1 chart’s assistance levels: 100.14/ 99.79 Trading suggestions for today: Based on the H1 chart, place sell(short )orders just if the USD Index breaks with a bearish candlestick; the support level is at 100.14, take revenue is at 99.79 and stop loss is at 100.47. The material has been supplied by InstaForex Business -www.instaforex.com

By | April 13, 2017

Despite the strong decline lived during Wednesday’s session following Trump’s comments on the greenback, USDX recovered from the lows posted after the headlines were reported to the press and now it’s consolidating around 100.54, where it’s located the 200 SMA at H1 chart. If the index does a breakout above 100.60, then it can test the 101.00 psychological area.

USDXH1.png

H1 chart’s resistance levels: 100.54 / 100.97

H1 chart’s support levels: 100.14 / 99.79

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 100.14, take profit is at 99.79 and stop loss is at 100.47.

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

Jonathon Alexander

Day-to-day analysis of GBP/USD for April 14, 2017 888011000 110888 The pair managed to pull away from 1.2573 following Trump’s remarks that deliver a strong selling wave to the US Dollar. A strong resistance can be seen around 1.2551 and ultimately, GBP/USD may begin to plummet to the 200 SMA zone at H1 chart. Above that location, the pair could do a rebound in order to resume the bullish bias, targeting the 1.2658 level. H1 chart’s resistance levels: 1.2551/ 1.2658 H1 chart’s assistance levels: 1.2423/ 1.2333 Trading suggestions 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 1.2551, take revenue is at 1.2658 and stop loss is at 1.2443. The product has been offered by InstaForex Business -www.instaforex.com

By | April 13, 2017

The pair managed to retreat from 1.2573 following Trump’s comments that deliver a strong selling wave to the US Dollar. A strong resistance can be seen around 1.2551 and eventually, GBP/USD may start to plummet towards the 200 SMA zone at H1 chart. Above that area, the pair could do a rebound in order to resume the bullish bias, targeting the 1.2658 level.

GBPUSDH1.png

H1 chart’s resistance levels: 1.2551 / 1.2658

H1 chart’s support levels: 1.2423 / 1.2333

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 1.2551, take profit is at 1.2658 and stop loss is at 1.2443.

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

Jonathon Alexander

Daily Video Technical Analysis|AUD/USD|13th April 2017 888011000 110888 We take a great in-depth take a look at AUD/USD and see if there are any trading chances for us to make some juicy pips!We combine the art of Fibonacci retracements, Fibonacci extensions, Support & & Resistance along with Stochastic and the RSI to identify the very best entry, stop loss and profit targets.Subscribe to me for more day-to-day technical analysis!The material has been offered by InstaForex Business-www.instaforex.com

By | April 13, 2017

We take a nice detailed look at AUD/USD and see if there are any trading opportunities for us to make some juicy pips!

We combine the art of Fibonacci retracements, Fibonacci extensions, Support & Resistance along with Stochastic and the RSI to determine the best entry, stop loss and profit targets.

Subscribe to me for more daily technical analysis!

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

Jonathon Alexander

AUDJPY Fundamental Analysis April 13, 2017 888011000 110888 AUD/JPY had an impulsive bullish counter move after weeks of a non-volatile bearish pattern. The pair is still in the bearish trend, however it seems rather exhausted after a good quantity of spontaneous bearish pressure given that the bounce off the pattern line retest. Today AUD had favorable high-impact financial events, which impacted the general efficiency of this pair today. Today AUD Work Modification report was released with a positive outcome of 60.9 k (vs. 20.3 k anticipated), which in fact is a terrific dive from the previous value of 2.8 k. Addition to the Work Change, AUD Joblessness Rate was unchanged at 5.9% as expected and MI Inflation Expectations was 4.1% up, which previously was at 4.0%. On the other hand, today JPY had M2 Money Stock, which showed a boost of 4.3% (vs. 4.2% expected) and 30-y Bond Auction report was likewise released today with a minor change at 0.80|3.1 (vs. 0.82|3.1 previously). In contrast to JPY occasions, AUD had a larger upper hand today, which helped the currency to almost swallow up two days of bearish cost action. The Employment Modification had a big impact on the Australian economy and AUD is expected to get more strength in the coming days.Now let uslook at the technical view. After the upbeat Employment Change report, the price has impulsively moved up today. Currently, the cost is heading towards the dynamic resistance of 20 EMA; and if the cost reveals any type of bullish rejection after retesting the 20 EMA as resistance, we will be eagerly anticipating offer in this couple with a down target at 81.10. On the other hand, if the price violates the 20 EMA and shows a daily close above the 20 EMA, then we will alter our bearish bias to bullish and will target 86.15 as the upward target. The product has actually been provided by InstaForex Business- www.instaforex.com

By | April 13, 2017

AUD/JPY had an impulsive bullish counter move after weeks of a non-volatile bearish trend. The pair is still in the bearish trend, but it seems quite exhausted after a good amount of impulsive bearish pressure since the bounce off the trend line retest. Today AUD had positive high-impact economic events, which impacted the overall performance of this pair today. Today AUD Employment Change report was published with a positive result of 60.9k (vs. 20.3k expected), which in fact is a great jump from the previous value of 2.8k. Addition to the Employment Change, AUD Unemployment Rate was unchanged at 5.9% as expected and MI Inflation Expectations was 4.1% up, which previously was at 4.0%. On the other hand, today JPY had M2 Money Stock, which showed an increase of 4.3% (vs. 4.2% expected) and 30-y Bond Auction report was also released today with a slight change at 0.80|3.1 (vs. 0.82|3.1 previously). In comparison to JPY events, AUD had a bigger upper hand today, which helped the currency to nearly engulf two days of bearish price action. The Employment Change had a big impact on the Australian economy and AUD is expected to gain more strength in the coming days.

Now let us look at the technical view. After the upbeat Employment Change report, the price has impulsively moved up today. Currently, the price is heading towards the dynamic resistance of 20 EMA; and if the price shows any kind of bullish rejection after retesting the 20 EMA as resistance, we will be looking forward to sell in this pair with a downward target at 81.10. On the other hand, if the price violates the 20 EMA and shows a daily close above the 20 EMA, then we will change our bearish bias to bullish and will target 86.15 as the upward target.

analytics58efa1756e1a6.jpg

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

Jonathon Alexander

Opec Upgrades 2017 Worldwide Oil Demand Development Projection to 1.27 Million Barrels Each day

By | April 13, 2017

OPEC updated its 2017 international demand growth projection to 1.27 million barrels each day, an upwards revision of 10,000 barrels each day as thirst from Asia rises. In its new month-to-month oil report on Wednesday, OPEC pointed to an uptick in demand prepared for in 2017. Asia, including India, is expected to lead this, followed by China and the U.S. Asia-Pacific is the only area anticipated to see a decrease 2017. Total oil usage in 2017 is expected to stand at 96.32 million barrels per day, according to the report.

The revised projections for 2017 show improved momentum in worldwide financial development, OPEC said. OPEC now anticipates global growth of 3.3 percent in 2017, up somewhat from previous quotes of 3.2 percent. Development within OECD established countries is seen at 1.9 percent. Meanwhile, China'' s development projection was increased from 6.2 percent to 6.3 percent.

In the most recent note on oil outlook, published Goldman Sachs’ & rsquo; experts, mention that they expect a return to stable long-term oil prices, in the wake of enhancements in innovation and therefore the costs involved with shale extraction.

Initial United States production quotes in the weekly Energy Details Administration (EIA) report that suggested domestic output is still increasing. The report also showed stockpiles at the US crude hub at Cushing, Oklahoma, increased 276,000 barrels in the week ended April 7th.

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

Jonathon Alexander

USD/CHF dropping completely, stay bearish

By | April 13, 2017

Rate has now broken through our offering area as expected and is on track to our revenue target. We stay bearish below 1.0068 resistance(Fibonacci retracement, horizontal overlap resistance) for an additional push down to 0.9973 support (Fibonacci retracement, horizontal overlap assistance).

Stochastic (34,5,3) has actually made a bearish exit signalling of the drop we expected.Sell below 1.0068. Stop loss at 1.0114. Take profit at 0.9973. The product has been offered by InstaForex Business – www.instaforex.com

Jonathon Alexander

AUD/USD bouncing perfectly towards earnings target, remain bullish

By | April 13, 2017

Price has actually bounced off our purchasing level absolutely completely and is on track to our profit target. We stay bullish with price making a bullish exit of a long-term coming down resistance-turned-support line. The objective is to purchase above 0.7514 assistance( Fibonacci retracement, horizontal overlap assistance)for a further push up to 0.7587 resistance( Fibonacci retracement, horizontal overlap resistance). RSI (34)has similarly made a bullish exit signalling that a change in momentum is now happening on AUD/USD. Buy above 0.7514. Stop loss at 0.7467.

Take profit at 0.7587. The material has actually been supplied by InstaForex Company-www.instaforex.com

Jonathon Alexander