Tag Archives: trade copper

Control zones of AUD/USD on 12/05/19

On the third day, the pair tests the zone of the average weekly move, which leads to a halt in growth and the formation of a local accumulation zone. The probability of consolidation above the average move by the end of this week is 30%, which makes purchases from current marks not profitable. In order to enter a long position, it will be necessary to lower the pair to yesterday’s low or to Weekly Control Zone 1/2 0.6804-0.6798.
Working in the flat implies the search for entry points at the boundaries of the range. The lower boundary is at a minimum of the last two days.
The upward movement remains a medium-term impulse, and thus, sales from the upper boundary of the accumulation zone should be focused on short profits. On the contrary, purchases from the lower boundary have an excellent perspective, since the main goal of growth is the weekly control zone 0.6875-0.6887.
Daily CZ – daily control zone. The zone formed by important data from the futures market that changes several times a year.
Weekly CZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a…

Australia Trade Balance Data Due On Thursday

Australia will on Thursday release October numbers for trade balance and retail sales, highlighting a modest day for Asia-Pacific economic activity. The trade balance is expected to show a surplus of A$6.50 billion, down from A$7.180 billion in September. Retail sales are called higher by 0.3 percent, up from 0.2 percent in the previous month. New Zealand will provide Q3 numbers for the volume of all building, with forecasts suggested to show an increase of 1.0 percent on quarter following the 1.5 percent contraction in the three months prior. South Korea will see October results for current account; in September, the surplus was $66.89 billion. The Philippines will release November numbers for consumer prices and Q3 data for unemployment. In October, inflation was up 0.2 percent on month and 0.8 percent on year, while core CPI was up 2.6 percent on year. The jobless rate in Q2 was 5.4 percent, with a participation rate of 62.1 percent. Finally, the markets in Thailand are closed on Thursday in observance of late king Bhumibol’s birthday and will re-open on Friday. The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Dollar Turning In Lackluster Performance

The U.S dollar turned in a relatively lackluster performance during trading on Wednesday as traders weighed upbeat news on the trade front against a disappointing batch of U.S. economic data. Currently, the dollar is trading at 108.87 yen compared to the 108.63 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.1078 compared to yesterday’s $1.1082. Optimism about trade resurfaced after a report from Bloomberg News indicated the U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase one trade deal. Citing people familiar with the talks, Bloomberg said U.S. negotiators expect a phase one deal to be completed before U.S. tariffs are set to rise on December 15. The people told Bloomberg outstanding issues in the talks include how to guarantee China’s purchases of U.S. agricultural goods and exactly which tariffs to roll back. Bloomberg said the people downplayed President Donald Trump’s recent remarks suggesting he would like to delay completing an agreement until after the 2020 elections, noting the president was speaking off the cuff. Meanwhile, traders were also digesting some disappointing U.S. economic data, including…

EUR/USD left a trap for buyers

Good evening, dear traders! I present the trading idea for the EUR/USD pair.
Today, December 4, data on employment in the non-productive sphere of the United States were released at 14:00 Universal time and at the same time, statements by the Bank of Canada were passed, which significantly strengthened the Canadian dollar. Against this background, the dollar strengthened locally, including relative to the euro.
On the daily time frame, the EUR/USD pair closes with a “double bottom” at a quote of 1.10650. It is behind this minimum that buyers have been hiding for the last two days:
How to earn profit and/or not to lose? Very simple.
1. If you are in short positions – I recommend taking profit at a quote of 1.10650.
2. If you are not in position – develop the target of 1.10650.
3. If you are in the “longs” – I do not recommend putting a stop below the level of 1.10650 – it will be removed by a true or false breakdown.
Good luck in trading and see you tomorrow at the morning review!
The material has been provided by InstaForex Company – www.instaforex.com…

Gold Prices Give Back Ground After Yesterday's Jump

Following the sharp increase seen in the previous session, the price of gold gave back some ground during trading on Wednesday. Gold for February delivery slipped $4.20 or 0.3 percent to $1,480.20 an ounce after jumping $15.20 or 1 percent to $1,484.40 an ounce on Tuesday. The pullback by the price of the precious metal came amid renewed optimism about trade after a report from Bloomberg News indicated the U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase one trade deal. Citing people familiar with the talks, Bloomberg said U.S. negotiators expect a phase one deal to be completed before U.S. tariffs are set to rise on December 15. The people told Bloomberg outstanding issues in the talks include how to guarantee China’s purchases of U.S. agricultural goods and exactly which tariffs to roll back. Bloomberg said the people downplayed President Donald Trump’s recent remarks suggesting he would like to delay completing an agreement until after the 2020 elections, noting the president was speaking off the cuff. Selling pressure was relatively subdued, however, as traders also digested some disappointing U.S. economic data, including a report from payroll processor…

EUR/USD: weak ADP report allowed the pair’s bulls to show character

The euro-dollar pair made another attempt to leave the price range of 1.0970-1.1090 today, in which it has been trading since the beginning of November. Last week, the bears tested the lower boundary of this band, while the bulls seized the initiative this week and sent the price to the area of the 11th figure. Today’s attempt also failed – the bullish momentum faded and the pair retreated. But at the same time, it is worth recognizing that EUR/USD buyers are clearly taking advantage of the current situation: the European currency feels indirect support from the European Central Bank (which, according to rumors, is ready to adhere to a wait-and-see attitude), while the dollar is actively losing its position against the background of Donald Trump’s belligerent mood and disappointing statistics. In addition, a stream of positive news regarding Brexit’s prospects also provides indirect support to the EUR/USD pair. All this makes it possible for buyers to test multi-week highs based on a trend reversal.
However, it is too early to talk about a trend reversal. Correctional growth of the pair is now mainly due to the dollar’s weakness than the strengthening of the euro. For the US currency, the “black…

U.S. Service Sector Growth Slows More Than Expected In November

A report released by the Institute for Supply Management on Wednesday showed the pace of growth in U.S. service sector activity slowed by more than anticipated in the month of November. The ISM said its non-manufacturing index dipped to 53.9 in November after climbing to 54.7 in October. While a reading above 50 still indicates service sector growth, economists had expected the index to edge down to 54.5. “The non-manufacturing sector had a slight pullback in November,” said Anthony Nieves, Chair of the ISM Non-Manufacturing Business Survey Committee. He added, “The respondents hope for a resolution on tariffs and continue to be hampered by constraints in labor resources.” The bigger than expected decrease by the headline index was partly due to a steep drop by the business activity index, which tumbled to 51.6 in November from 57.0 in October. Meanwhile, the new orders index rose to 57.1 in November from 55.6 in October and the employment index climbed to 55.5 from 53.7. The report said the prices index also increased to 58.5 in November from 56.6 in October, indicating a faster rate of price growth. On Monday, the ISM released a separate report showing U.S. manufacturing activity contracted for the…

*U.S. Crude Oil Inventories Plunge By 4.9 Million Barrels In Week Ended 11/29

U.S. Crude Oil Inventories Plunge By 4.9 Million Barrels In Week Ended 11/29 The material has been provided by InstaForex Company – www.instaforex.com…

German Vehicle Industry To Shed Jobs At Faster Rate In 2020: VDA

German vehicle manufacturers are likely to cut more jobs in 2020 after employment in the industry hit its highest in nearly three decades last year. The employment level remained stable at 835,300 during the first nine months of this year, but the increase in the figure recorded during the first half of the year melted away in recent months, President of the German Association of the Automotive Industry (VDA) Bernhard Mattes said in a statement on Wednesday. “Capacity utilization has declined, limited-term employment contracts are not being renewed, and the instrument of short-time work is being employed once again. We have to expect a decrease in the size of the core workforce,” Mattes said. VDA expect to see a decrease in the figures this year in comparison with the previous year’s figure of 834,000 employees. “A trend that will be more pronounced in 2020,” Mattes added. The group expects a decrease of 4.1 million, or 5 percent, in global passenger car sales, which is larger than that recorded during the financial crisis a decade ago. The slowdown in the Chinese market is largely to blame. The VDA expects the world market for passenger cars to hit a volume of 78.9…

U.S. Private Sector Employment Rises Much Less Than Expected In November

Private sector employment increased by much less than anticipated in the month of November, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment rose by 67,000 jobs in November after climbing by a revised 121,000 jobs in October. Economists had expected employment to jump by 140,000 jobs compared to the addition of 125,000 jobs originally reported for the previous month. “The job market is losing its shine,” said Mark Zandi, chief economist of Moody’s Analytics. “Job openings are declining and if job growth slows any further unemployment will increase.” The weaker than expected job growth came as a continued increase in employment in the service-providing sector was partly offset by a loss of jobs in the good-producing sector. The service-providing sector added 85,000 jobs, driven by healthcare and professional services, while the goods-producing sector lost 18,000 jobs. Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said job creation slowed across all company sizes but noted small companies continued to face more pressure than their larger competitors. The report said employment at small businesses edged up by 11,000 jobs, while large and mid-sized businesses added 27,000 jobs and 29,000 jobs, respectively….