Tag Archives: market watch

Oil: long-term forecast

Oil – CLFrom April 2011 to August 2014, the price of oil (WTI) formed an extended triangular graphic formation. In August 2014, the price went down from the triangle and plummeted until January 2016, reaching 26.14.The oil drop at the exit from the triangle that lasted for 75 weeks, exactly to the time point where the lines forming the triangle converge. From a minimum of 26.14, a new life cycle of the growth-decline market began. Our task is to determine the completion of a new market cycle.Now we see that the price has again formed a triangle, but this time it is smaller. The exit of the price from the triangle downward can provoke a 16-week fall before the end of March next year since the price in the second phase of the market’s life cycle is in decline.The upper generatrix of the large triangle, with its parallel downward movement to the minimum of February 2009, exactly coincides with the minimum of January 2016. The parallel line from the generatrix of the small triangle exactly coincides at the point with its time peak and the line of the price channel of red color. At the point of convergence of the lines,…

Japan Has Y1,816.8 Billion Current Account Surplus

Japan had a current account surplus of 1,816.8 billion yen in October, the Ministry of Finance said on Monday – exceeding expectations for 1,806.8 billion yen and up from 1,612.9 billion in September. The trade balance reflected a surplus of 254.0 billion yen – also beating forecasts for 138.8 billion yen following the 1.1 billion yen surplus in the previous month. Imports were down 15.3 percent on year to 6,285.9 billion yen, while exports fell an annual 7.9 percent to 6,539.9 billion yen. The capital account posted a deficit of 45.4 billion yen, while the financial account saw a surplus of 879.9 billion yen. The adjusted current account surplus was 1,732.2 billion yen, beating forecasts for 1,731.1 billion yen and up from 1,485.2 billion yen a month earlier. The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD reacting below resistance, potential drop!

Trading RecommendationEntry: 1.10660Reason for Entry: 38.2% Fibonacci RetracementTake Profit : 1.10280Reason for Take Profit: 61.8% Fibonacci retracementStop Loss: 1.11090Reason for Stop loss:horizontal swing high resistanceThe material has been provided by InstaForex Company – www.instaforex.com…

Forecast for EUR/USD on December 9, 2019

EUR / USD
On Friday, the price returned to the Fibonacci level of 123.6% and under the embedded line of the declining blue price channel, due to excellent data on US employment. At the same time, the breakdown of support occurred exactly at the intersection of these two lines, which is a sign of strong movement, with prospects for further development. The signal line of the Marlin oscillator, in turn, returned to the downward trend zone.
The first target of the movement will be the Fibonacci level of 138.2% at the price of 1.0985. After that, breaking through this support from which the price turned up on November 29 and 14, will open lower targets: 1.0925 (lows of September 12 and 3) and 1.0895. As it moves further, the price will have to fight with the Fibonacci level of 161.8% at the price of 1.0845 and go down to the lower line of the blue price channel in the region of 1.0710.
On the four-hour chart, the price has consolidated below the MACD line; the Marlin oscillator is completely in a downward trend.
The material has been provided by InstaForex Company – www.instaforex.com…

New Zealand Manufacturing Value Climbs 0.9% In Q3

The value of manufacturing sales in New Zealand was up a seasonally adjusted 0.9 percent on quarter in the third quarter of 2019,. Statistics New Zealand said on Monday – after dipping 0.7 percent in the three months prior. The main industry movements were meat and dairy products, up NZ$169 million (2.0 percent); transport equipment and machinery, up NZ$158 million (5.1 percent); and metal products, up NZ$101 million (3.6 percent). By volume, manufacturing sales fell 0.3 percent after skidding 2.7 percent in the previous quarter. The main industry movements were meat and dairy products, down 4.5 percent; transport equipment and machinery, up 4.8 percent; and metal products, up 3.2 percent. The material has been provided by InstaForex Company – www.instaforex.com…

*New Zealand Manufacturing Value +0.9% On Quarter In Q3; Volume -0.3%

New Zealand Manufacturing Value +0.9% On Quarter In Q3; Volume -0.3% The material has been provided by InstaForex Company – www.instaforex.com…

Dollar Rises On Strong Jobs Data

After exhibiting some weakness early on in the day, the U.S. dollar moved higher on Friday, riding on strong U.S. monthly jobs data and amid optimism the U.S. and China will agree on a phase one trade deal before the next hike in tariffs on Chinese imports come into effect later this month. The dollar index, which eased to 97.36 at the start, rallied to 97.84 by mid morning, and was later seen at 97.70, up nearly 0.3% from previous close. Against the euro, the dollar strengthened to 1.1061, gaining about 0.4%, from previous close of $1.1103. Against pound sterling, the dollar recovered to 1.3133 from a low of 1.3167. The Japanese yen strengthened against the dollar, rising to 108.56 a dollar, after having weakened to 108.91 yen a dollar in early trades. The dollar was down slightly against the Aussie with the AUD-USD pair trading at 0.6841. Against Swiss franc, the dollar rose to 09899, up 0.27% from previous close, while against the Loonie, it rose to 1.3257, adding more than 0.6%. In Canadian economic news, data from Statistics Canada said the Canadian economy lost 71,200 jobs in November of 2019 after shedding 1,800 jobs in the previous month….

U.S. Consumer Credit Jumps More Than Expected In October

Consumer credit in the U.S. increased by more than anticipated in the month of October, according to a report released by the Federal Reserve on Friday. The Fed said consumer credit surged up by $18.9 billion in October after climbing by $9.6 billion in September. Economists had expected consumer credit to increase by $16.0 billion. Revolving credit, which largely reflects credit card debt, rose by $7.9 billion in October after edging down by $0.2 billion in September. The report said non-revolving credit, such as student loans and car loans, also jumped by $11.0 billion in October after increasing by $9.4 billion in the previous month. Total consumer credit was up by 5.5 percent compared to the same month a year ago, as revolving credit spiked by 8.8 percent and non-revolving credit surged up by 4.3 percent. The material has been provided by InstaForex Company – www.instaforex.com…

Surge In U.S. Non-farm Payrolls Lifts Dollar

The U.S. dollar was notably higher against its major trading partners in the European session on Friday, as the economy created much more jobs than forecast in the month of November, supporting hopes for the Federal Reserve to keep policy unchanged when it meets next week. Data from the Labor Department showed that U.S. job growth was in a substantial acceleration in November. The report said non-farm payroll employment surged by 266,000 jobs in November after climbing by an upwardly revised 156,000 jobs in October. Economists had expected an increase of about 180,000 jobs compared to the addition of 128,000 jobs originally reported for the previous month. The unemployment rate edged down to 3.5 percent in November from 3.6 percent in October. The unemployment rate was expected to remain unchanged. The Federal Reserve’s final rate setting meeting of the year is due next week. The Central Bank is expected to keep rates on hold at 1.50-1.75 percent. Investors focused on developments in China-U.S. trade front after President Donald Trump commented that the talks were “moving right along.” Trump’s remarks came after Beijing asserted that some U.S. tariffs should be rolled back as part of an interim deal. U.S. Treasury Secretary…

Malta Economic Growth Slows In Q3

Malta’s economic growth slowed further in the third quarter, preliminary data from the National Statistics Office showed on Friday. Gross domestic product grew 5.5 percent year-on-year following a 7.1 percent increase in the previous quarter. The pace of growth has been slowing since the fourth quarter of last year. In chain-linked volume terms, the economy grew 3.4 percent year-on-year after a 4.9 percent expansion in the second quarter. The rate of growth slowed for a third straight quarter. Total final consumption expenditure increased 2.5 percent in volume terms, led by a 2 percent growth in household expenditure and a 4 percent rise in government expenditure. Gross fixed capital formation rose 0.2 percent. Exports of goods and services increased by 3.6 percent and imports increased 1.0 percent. The material has been provided by InstaForex Company – www.instaforex.com…