Tag Archives: DE30

U.S. Dollar Lower On Recovery Hopes

The U.S. dollar depreciated against its most major counterparts in the European session on Tuesday, as investors pinned hopes on economic recovery after easing of restrictions across the globe. Hopes for a global coronavirus recovery helped offset fears about U.S.-China tensions and political unrest in the U.S. Overnight data showed that U.S. manufacturing activity improved in May after logging an 11-year low in the previous month. Key economic reports due this week include ADP private payrolls data, ISM non-manufacturing PMI and U.S. jobs data for May. The greenback declined to 1.2573 against the pound, its lowest level since May 1. If the greenback extends decline, 1.30 is possibly seen as its next support level. Data from the Nationwide Building Society showed that U.K. house prices fell 1.7 percent month-on-month in May, in contrast to a 0.9 percent rise in April as the impact of the coronavirus pandemic filtered through the property market. This was the biggest fall since February 2009. Economists had forecast a fall of 1 percent. After rising to 1.1115 against the euro at 2:45 am ET, the greenback fell to a 2-1/2-month low of 1.1188. On the downside, 1.15 is possibly seen as…

Analysis of Gold for June 02,.2020 – Watch for the breakout of the symmetrical triangle contraction pattern to confirm further

News : (Bloomberg) — German Chancellor Angela Merkel will seek to broker a compromise Tuesday on a second stimulus package to help Europe’s biggest economy recover from the deep recession caused by the coronavirus. Merkel’s government launched an initial shot of stimulus and guarantees in March to cushion consumers and businesses from the impact of the outbreak. Officials are now focusing on trying to bring the economy back from a contraction expected to exceed 6% this year, the deepest since the aftermath of World War II. Merkel will host officials from the ruling coalition of her Christian Democratic-led bloc and the Social Democrats in Berlin from 2 p.m. local time. They’ll attempt to thrash out a deal on a plan worth between 50 billion euros ($56 billion) and 100 billion euros, a person with knowledge of the matter told Bloomberg last week. Technical analysis: Gold has been trading sideways at the price of $1,741. I found that market is in contraction and waiting for the next breakout of consolidation to confirm further direction. Trading recommendation: Watch for the breakout of the symmetrical triangle to confirm further direction. The upside breakout of the $1,744 may lead us for…

Trading recommendations for GBP/USD pair on June 2

From the point of view of complex analysis, you can see that the quote went through most of the flat formation, and now let’s talk about the details.
The last trading day reflected the high activity of market participants where the quote managed to consolidate above the level of 1.2350 at the beginning of the Asian trading session, which was the starting point for the breakdown of last week’s maximum – 1.2392. Traders did not stop there, the inertial move was set by the market, a small push was enough for further growth. As a result, the pound has grown up to the forecasted level of 1.2500, and this, by the way, is 74% of the flat formation 1.2150 // 1.2350 // 1.2620.
Before going further, it is worth recalling that the upward turn is held on the market for at least 11 trading days, and its total value is more than 450 points. The existing scale violated the text component of the first of May, which means that the restoration process, which so many had hoped for, is postponed indefinitely.
Flat formation is what traders are currently focused on as a development prospect. It is worth considering one point…

AUD/USD. Attractive and promising Australian currency

The Reserve Bank of Australia held its regular meeting today, which was expected to be “passable”. Nevertheless, the RBA’s passivity in the current conditions plays into the hands of the “Aussie” – the AUD/USD pair continued to siege the 68th figure after some hesitations. At the moment, the “round” level of 0.6800 plays the role of a psychologically important resistance level, while from the technical point of view, the nearest resistance is slightly higher – at 0.6850 (the lower border of the Kumo cloud on the weekly chart). All indicators speak in favor of further price growth, and the fundamental background also contributes to the growth of bullish sentiment.Before the June meeting of the RBA, the head of the regulator made several important statements, thereby indicating the position of the Central Bank regarding the future prospects of monetary policy. At today’s meeting, the Central Bank members only confirmed the theses voiced earlier, having provided background support to the AUD/USD pair. However, the Australian currency reacted modestly enough to the results of the June meeting – by and large, the market played the most important messages of Philip Lowe yesterday.Let me remind you that at the beginning of this week, the RBA…

Indonesia Manufacturing PMI Climbs To 28.6 In May – IHS Markit

The manufacturing sector in Indonesia continued to contract in May, albeit at a lightly slower pace, the latest survey from IHS Markit showed on Tuesday with a manufacturing PMI score of 28.6. That’s up from the record low of 27.5 in April, but it remains substantially beneath the boom-or-bust line of 50 that separates expansion from contraction. Individually, output and new orders both continued to fall sharply due to Covid-19 measures, while there was a record fall in employment amid evidence of layoffs. Input costs rose further due to material shortages and a weaker rupiah. The material has been provided by InstaForex Company – www.instaforex.com…

South Korea Q1 GDP Revised Up To -1.3%

South Korea’s gross domestic product contracted a seasonally adjusted 1.3 percent on quarter in the first three months of 2020, the Bank of Korea said in Tuesday’s preliminary reading. That’s an upward revision from last month’s advance estimate that suggested a decline of 1.4 percent on quarter following the 1.3 percent quarterly increase in the three months prior. On a yearly basis, GDP was revised up to 1.4 percent from last month’s figure of 1.3 percent following the 2.3 percent increase in the previous three months. Real gross national income fell 0.8 percent on quarter in Q1. On the production side, manufacturing fell by 1.0 percent, mainly in transportation equipment, coke and refined petroleum products. Construction expanded by 0.2 percent, owing to increases in civil engineering and specialized construction. Services contracted by 2.4 percent, with decreases in wholesale and retail trade, accommodation and food services, transportation and storage and cultural and other services. On the expenditure side, private consumption went down by 6.5 percent, as expenditures on goods and services both decreased. Government consumption rose by 1.4 percent, mainly due to increased expenditures on goods. Construction investment grew by 0.5 percent, as building construction and civil engineering increased. Facilities investment…

USDCAD bouncing from 1st support, further upside!

Trading RecommendationEntry:1.3512Reason for Entry: 100% fibonacci extensionTake Profit :1.3728Reason for Take Profit: Horizontal swing high resistance, 38.2% fibonacci retracementStop Loss: 1.3420Reason for Stop loss: 127% fibonacci extensionThe material has been provided by InstaForex Company – www.instaforex.com…

Forecast for AUD/USD on June 2, 2020

AUD/USD
The Australian dollar showed a solid increase of 130 points on Monday, barely reaching the first target level of 0.6825 (October 2016 low). But the aussie is upbeat and ready to continue growth to the next goal along the price channel in the area of 0.6935. The Marlin oscillator in the zone of positive values.
The signal line of the Marlin oscillator is looking down on the four-hour chart, but a more significant pattern is needed for a reversal sign. Possible consolidation of the price (about a day) under the level of 0.6825, after which we expect continued growth to 0.6935.
This morning Australia’s optimistic balance of payments for the first quarter has already been released: 8.4 billion against the forecast of 6.3 billion and 1.7 billion in the previous period, the investor has to wait for the comments of the Reserve Bank of Australia after its meeting on monetary policy, which will be a little later, at 6:30 London time. GDP for the first quarter will be published tomorrow – the forecast is -0.4%, but there is already hope for a better indicator.
The material has been provided by InstaForex Company – www.instaforex.com…