Tag Archives: Forex Indicies

Dollar Gains Against Rivals On Strong Economic Data

The U.S. dollar exhibited strength against most major currencies on Friday, riding on fairly encouraging economic data from China and the U.S. Chinese economy expanded in line with expectations in the fourth quarter. Data released today showed GDP was up 6% year-on-year in the fourth quarter, the same rate as seen in the third quarter. It was in line with expectations as well. The data also showed that industrial production in China rose 6.9% in December, compared to the year-ago quarter. Retails sales surged up 8% in the month, over the same month in the previous year. According to the data released by the Commerce Department Friday morning, U.S. housing starts skyrocketed by 16.9% to an annual rate of 1.608 million in December after jumping by 2.6% to a revised rate of 1.375 million in November. Economists had expected housing starts to rise by 0.7% to a rate of 1.375 million. Building permits tumbled by 3.9% in December, after climbing 0.9% in November. A report from the University of Michigan showed a slight deterioration in U.S. consumer sentiment in the month of January. Preliminary data showed the consumer sentiment index edged down to 99.1 in January from the…

U.S. Housing Starts Skyrocket To 13-Year High In December

After reporting significant increases in new residential construction in the two previous months, the Commerce Department released a report on Friday showing U.S. housing starts saw an even more substantial spike in the month of December. The Commerce Department said housing starts skyrocketed by 16.9 percent to an annual rate of 1.608 million in December after jumping by 2.6 percent to a revised rate of 1.375 million in November. The surge came as a big surprise to economists, who had expected housing starts to rise by 0.7 percent to a rate of 1.375 million from the 1.365 million originally reported for the previous month. With the much bigger than expected increase, housing starts soared to their highest level since hitting a rate of 1.649 million in December of 2006. Single-family housing starts jumped by 11.2 percent to a rate of 1.055 million, while multi-family starts spiked by 29.8 percent to a rate of 553,000. Meanwhile, the report said building permits tumbled by 3.9 percent to an annual rate of 1.416 million in December after climbing by 0.9 percent to a revised rate of 1.474 million in November. Building permits, an indicator of future housing demand, had been expected to slide…

UK Retail Sales Fall Unexpectedly During Festive Season

UK retail sales declined unexpectedly even in festive season in December signaling that weak consumer spending weighed on economic growth in the last quarter of 2019. Retail sales volume, including auto fuel, dropped 0.6 percent month-on-month, following a 0.8 percent decrease in November, data from the Office for National Statistics showed Friday. This was the fifth consecutive month of no growth. Economists had forecast a monthly growth of 0.6 percent. Excluding auto fuel, retail sales fell 0.8 percent, the same pace of decline as logged in November and in contrast to the expected growth of 0.8 percent. Food store sales fell 1.3 percent, which was the largest drop since December 2016. At the same time, non-food store sales slid 0.9 percent in December. Meanwhile, automotive fuel sales advanced 1.6 percent. Annual growth in retail sales volume, including auto fuel, improved marginally to 0.9 percent from 0.8 percent a month ago. However, this was much slower than the expected growth of 2.7 percent. Similarly, excluding auto fuel, retail sales volume increased 0.7 percent after rising 0.6 percent in November. Economists had forecast an annual growth of 3 percent. In the fourth quarter, retail sales declined 1 percent….

January 17, 2020 : EUR/USD Intraday technical analysis and trade recommendations.

Since November 14, the price levels around 1.1000 has stood as a significant DEMAND-Level offering adequate bullish SUPPORT for the pair on two successive occasions.During this Period, the EUR/USD pair has been trapped within a narrow consolidation range between the price levels of 1.1000 and 1.1085-1.1100 (where a cluster of supply levels and a Triple-Top pattern were located) until December 11.On December 11, another bullish swing was initiated around 1.1040 allowing recent bullish breakout above 1.1110 to pursue towards 1.1175 within the depicted short-term bullish channel.Initial Intraday bearish rejection was expected around the price levels of (1.1175).Moreover, On December 20, bearish breakout of the depicted short-term channel was executed. Thus, further bearish decline was demonstrated towards 1.1065 where significant bullish recovery has originated.The recent bullish pullback towards 1.1235 (Previous Key-zone) was suggested to be watched for bearish rejection and another valid SELL entry.Suggested bearish position has achieved its targets while approaching the price levels around 1.1110.As expected, the Key-Level around 1.1110 has provided some bullish rejection. That’s why, the previous bullish pullback was expected to pursue towards 1.1140 and 1.1175 where the depicted key-zone as well as the recently-broken uptrend are located.Recent signs of bearish rejection were demonstrated around 1.1175. That’s…

BTC analysis for 01.17.2020 – Bearish divergence on the 4H time-frarrme, selling opporutnities are preferable

Industry news:It seems that crypto-custody has been kept a secret from institutional investors.Few things have improved in 2019 as much as the custody of cryptocurrency, and the regulators’ attitude towards it. While a Bitcoin Exchange Traded Fund still waits on the doorsteps of the SEC, institutional companies entering the cryptocurrency custody market has grown.Coinbase snapped up custody provider Xapo, Fidelity entered the crypto-storage space, and the Intercontinental Exchange’s digital assets platform Bakkt launched offering both trading and custody. Yet, investors have been kept in the dark.According to a survey by Bitcoin ETF hopeful Bitwise Asset Management, institutional investors have a crypto-custody problem. The problem, however, is a lack of information, not a lack of solutions.Technical analysis:BTC has been trading upside but it found solid supply near the $9.000 level. I found the bearish divergence on the MACD oscillator, which is sign that buyers got exhausted.Watch for selling opportunities on the rallies with the downward targets at the price of $8.590 and $8.445.Major resistance is set at the price of $9.000.Support levels and downward target are set at the price of $8.592 and $8.445.The material has been provided by InstaForex Company – www.instaforex.com…

Gold 01.17.2020 – Decision pivot level on the Gold at the price of $1.562

Gold has been trading sideways at the price of $1.557. The price is near the critical decision level at $1.562 and you should watch carefully the price action around it.The breakout of the $1.562 to the upside will confirm test of $1.557 and in that case you should watch on buying opportunities on the dips.The rejection of the resistance at $1.562 would confirm rotation back towards the level of $1.535.MACD oscillator is showing positive reading but the slow line is tuned to the downside.Major resistance is set at the price of $1.562.Support levels and downward target is set at the price of $1.535.The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. January 17. Overbought euro still caused a fall

EUR/USD – 4H.

As seen on the 4-hour chart, the EUR/USD pair performed a reversal in favor of the US currency and resumed the process of falling in the direction of the low level of 1.1086. A new downward trend corridor has been formed, which now points to the “bearish” mood of most traders. The reversal of quotes in favor of the US dollar occurred with some delay, I was waiting for it 1-2 days earlier. However, in this case, it turned out not so bad, and now I expect a fall to the lower line of the corridor – 1.1040 (approximate goal). A bearish divergence was also formed for the MACD indicator, which also worked in favor of the US currency. The report on inflation in the European Union was not weaker than forecasts, but not stronger than them. Inflation was 1.3% y/y in December, which remains far from the ECB’s target level, which is now 2.0% but can be lowered in the future. Now the main thing is that the information background from America does not scare off bear traders from the plan. In the US, the consumer confidence index and the level of industrial production will be released today.
Forecast…

Pound Strengthens Ahead Of U.K. Retail Sales Data

At 4.30 am ET Friday, the Office for National Statistics releases UK retail sales data. Sales are forecast to grow 0.6 percent on month in December, reversing a 0.6 percent fall in November. Ahead of the data, the pound climbed against its major rivals. The pound was worth 1.3099 against the greenback, 144.32 against the yen, 1.2643 against the franc and 0.8498 against the euro as of 4:25 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Bank Of Korea Keeps Rate Steady

The Bank of Korea left its key interest rates unchanged on Friday as sluggishness in the domestic economy eased somewhat. The Monetary Policy Board of the Bank of Korea decided to maintain the base rate at 1.25 percent. The bank had reduced the rate by 25 basis points each in July and October 2019. The board noted that facilities investment has slightly increased and consumption growth has expanded, although construction investment and exports have continued to decline. GDP is forecast to grow at the lower-2 percent level this year, consistent overall with the level projected in November. Due to a smaller decline in agricultural product prices, consumer price inflation has risen to the upper zero percent level. Inflation is forecast to rise to around 1 percent, generally in accord with the path projected in November, and core inflation to run at the upper-0 percent level. Looking ahead, the board said it will conduct monetary policy so as to ensure that the recovery of economic growth continues and consumer price inflation can be stabilized at the target level over a medium-term horizon. The material has been provided by InstaForex Company – www.instaforex.com…

Technical analysis recommendations for EUR/USD and GBP/USD on January 17

Economic calendar (Universal time)
We are waiting for statistics from the eurozone in the morning. Among the important ones, it can be noted 9:30 (retail sales, UK) and 10:00 (consumer price index, EU). After lunch, the time will come for news from overseas (USA). The most significant indicators will be published at 13:30 (the number of issued building permits) and 15:00 (the number of open vacancies in the labor market).
EUR / USD
Yesterday, the players on the decline, having tested the resistance of the final level of the daily dead cross (1.1172), made an attempt to complete the rise again and move to an active decline. Today, we can expect a continued decline in the case of updating yesterday’s low (1.1128). At the same time, the main bearish landmarks remain in their places – 1.1110 (weekly levels) – 1.1065 (upper border of the daily cloud + weekly Kijun) – 1.1022 (lower border of the daily cloud + weekly Fibo Kijun). If the bears are unable to continue the pair, they will most likely remain within the zone of attraction in the near future, formed by the key levels of the daily dead cross (1.1141-53) and the monthly short-term…