Tag Archives: DE30

*Dollar Climbs To Over 2-month High Of 109.66 Against Yen After Jobs Data

Dollar Climbs To Over 2-month High Of 109.66 Against Yen After Jobs Data The material has been provided by InstaForex Company – www.instaforex.com…

Loonie Advances Further After Canada Jobs Data

Following the release of Canada jobs data for May at 8:30 am ET Friday, the loonie climbed further against its major counterparts. The loonie was trading at 81.71 against the yen, 0.9364 against the aussie, 1.3405 against the greenback and 1.5166 against the euro around 8:33 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Italy Retail Sales Fall In April

Italy’s retail sales declined at a softer pace in April amid the Covid-19 outbreak, data from the statistical office ISTAT showed on Friday. The retail sales value fell a seasonally adjusted 10.5 percent month-on-month in April, following a 21.3 percent decline in March. Sales of non-foods declined 24.0 percent monthly in April and food sales rose 0.6 percent. On an annual basis, retail sales fell 26.3 percent in April, following an 18.9 percent decrease in the previous month. Online sales grew 27.1 percent year-on-year. In volume terms, retail sales fell 11.4 percent monthly in April, following a 22.1 percent decrease in the prior month. On a yearly basis, the retail sales volume decreased 28.1 percent in April, following a 20.0 percent fall in the preceding month. The material has been provided by InstaForex Company – www.instaforex.com…

June 5, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

T/P level to be located around 1.2600, 1.2715 and 1.2750 while S/L should be placed below 1.2450The material has been provided by InstaForex Company – www.instaforex.com…

Threat of dollar hegemony, or financial weapons of mass destruction

Recently, the Chinese government launched testing a digital version of its national currency, which is likely to be more widely used at the Beijing Winter Olympics in 2022.
Some experts believe that the digital yuan can not only strengthen government control over the country’s financial system, but even change the balance of power in the international economic arena.
“Most of the money that is exchanged electronically is just loans and debits on accounts with different banks. Digital cash in China is designed to be an electronic version of a banknote or coin. It just lives in a digital wallet on a smartphone, and is not in a physical wallet. The value of the digital renminbi will be provided by the state. Virtual money will be quickly circulated in the economy and also easier to use than paper money, and will also give Chinese authorities a degree of control that cannot be obtained with physical money,” Bloomberg analysts said.
“In addition, a payment system based on this kind of digital banknote or coin does not depend on the financial condition of banks, their credit rating and interaction between each other. At the same time, the state has full transparency of…

Gold unable to find support in any way

Gold futures declined in price during both Asian trading and the European session today.On a trading floor in New York, the value of August gold futures on the last business day of the week fell by 1.11%, which sent the precious metal to the level of $ 1,708.30 per troy ounce. Support at the same time was at around 1,690.30 dollars per troy ounce, and resistance was recorded in the region of 1,761 dollars per troy ounce.Buyers in the gold market, of course, know that going against the Fed’s policies is very difficult. It is especially difficult at the moment when the regulator begins to literally bring down a huge amount of money to the market in the form of loans, grants, targeted support, etc, in order to save the drowning economy. In another scenario, all these trillions could go to purchase a more reliable and time-tested asset – gold.For the precious metals market, there are two options for the development of events with such an avalanche of money. Firstly, you can ride it and ride well, which would be reflected in the rise in the price of gold to the desired 1800 or even higher – up to 1900 dollars…

Analysis on EUR / USD and GBP / USD for June 5, 2020

EUR/USD
On June 4, the EUR / USD pair gained about 105 bps and thus continued construction supposed wave 3 into 3 to C to B. If this is true, then today’s exit of the quotes from the reached highs may mean the completion of this wave and the transition to the construction of correctional wave 4. Thus, after a fairly long increase in quotes, a rollback from the reached maximums may finally follow. At the same time, the wave marking of the upward trend section does not yet appear to be fully equipped.
Fundamental component:
On Thursday, all markets of the EUR / USD currency pair focused on the results of the ECB meeting. And although there was a fairly large amount of important information, I cannot say that the increase in the instrument was connected precisely with these events. Following the meeting, the European Central Bank expanded its program to counter the economic crisis by 600 billion euros and left key rates unchanged. Christine Lagarde said at a press conference that by the end of 2020, the EU economy will lose about 8.7%. Thus, there was nothing optimistic about the euro yesterday (the report on retail sales…

The euro has cornered the enemy

The beginning of June was a real benefit for Christine Lagarde and the single European currency. The ECB expanded its emergency asset purchase program due to the pandemic by €600 billion, announced that it will continue until at least June 2021, revenues are planned to be reinvested until the end of 2022, and the Frenchwoman in the best traditions of Mario Draghi said that the decision to increase the scale of QE was made unanimously. However, the former head of the Central Bank did this in order to sink the euro, and its current head – in order to support Italian bonds. Spreads on their rates with their German counterparts went down, and EUR/USD quotes soared to 3-month highs.
For some, it may seem strange that monetary expansion leads to a strengthening of the regional currency, however, you need to understand that the reaction of Forex to certain events differs at different stages of the economic cycle. In times of recession, investors are obsessed with the scale of incentives that can smooth a downturn. According to an unspoken rule, the share of support in % of GDP should correspond to the size of the economy’s losses. The EU has done more. Thanks…