Tag Archives: trade

Germany Industrial Production Declines Most In 6 Months

Germany’s industrial production declined at the fastest pace in six months in October, led by a sharp decrease in capital goods output in October, data from Destatis revealed on Friday. Industrial production decreased 1.7 percent on a monthly basis in October, much bigger than the 0.6 percent fall logged in September. Output decreased at the fastest pace in six months, while economists had forecast a 0.1 percent growth. On a yearly basis, industrial output declined 5.3 percent, following a revised 4.5 percent decrease in September. Production was expected to decline moderately by 3.6 percent in October. Excluding energy and construction, production was down by 1.7 percent. Energy output advanced 2.3 percent, while construction output decreased 2.8 percent. Production of intermediate goods increased 1.0 percent and that of consumer goods gained 0.3 percent. Meanwhile, output of capital goods showed a decline of 4.4 percent. The economy ministry said the downturn in the industry continues in October. However, recent developments in new orders and business expectations indicate that a stabilization trend could emerge in the coming months, the ministry noted. Data released on Thursday showed that factory orders declined 0.4 percent in October on weak domestic demand. Looking ahead, both soft…

Euro Little Changed After German Industrial Output

At 2.00 am ET Friday, Destatis has published Germany’s industrial output data for October. The euro changed little against its major rivals after the data. The euro was trading at 0.8436 against the pound, 120.68 against the yen, 1.0970 against the franc and 1.1104 against the greenback around 2:03 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Technical analysis of USD/CAD for Decembre 06, 2019

Overview: The USD/CAD pair is trading at the spot of 1.3196 and 1.3252. Right now, the pair has already been corrected by 50.0% and may yet continue trading towards 61.8% or 38.2% Fibonacci retracement levels at 1.3252 or 1.3196. The USD/CAD pair was argumentative as it was trading in a narrow sideways channel, the market showed signs of instability. Resistance and support are seen at the levels of 1.3252 and 1.3196 respectively. The support is the low at 1.3196. Equally important, the USDCAD pair is still moving around the key level at 1.3225, which represents a daily pivot in the H1 time frame at the moment. All these signals taken together indicate further sideways trend movement. Immediate resistance is seen around 1.3252 levels, which coincides with the first resistance. In case of a successful breakout at 1.3252 , the next target will be at the level of 1.3291. This would suggest a bulish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to rise higher towards at least 1.3344 so as to test the daily support 3. On the other hand, if a breakout happens at the…

Analysis of EUR/USD and GBP/USD for December 6. All focus is on Nonfarm payrolls and US payroll data

EUR / USD
On December 5, the EUR / USD pair completed with an increase of 25 basis points and exceeded the maximum of wave b for the second time. Thus, another unsuccessful attempt to break through the 23.6% Fibonacci level may lead to a departure of quotes from the reached highs again. Until a breakthrough of the level of 1.1106 occurs, the option to build an upward wave and an upward trend section is not working, although the current wave marking suggests just such a development of events.
Fundamental component:
On Thursday, the news background for the euro-dollar instrument was quite interesting and strong. As I said yesterday, the euro needed strong figures for economic reports on GDP and retail sales in the eurozone. However, in reality, strong values were not needed. Retail sales in October showed an increase of 1.4%, which means a strong slowdown in growth rates from 3.1% y / y, and GDP amounted to 1.2% y / y, which coincided with the expectations of the currency market. Thus, none of the released indicators exceeded the forecast At the same time, euro currency increased during the day, however, this movement can hardly be called strong….

Trading plan for EURUSD for December 06, 2019

Technical outlook:EURUSD might have print an interim high at 1.1116, which could hold for at least a few trading sessions. We are expecting at least a retracement from current levels towards 1.1030, before finding support to resume rally. As discussed yesterday, probability also remains for a dip below 1.0981 levels to complete a complex corrective drop that began from 1.1180 levels earlier. In either case, expect a brief correction from current levels before the medium term bullish trend could resume. The larger wave which is being worked upon is between 1.0879 and 1.1181 levels respectively and until prices stay above 1.0879, the structure remains in favor of bulls. Immediate price support is also seen at 1.0940 along with Fibonacci 0.786 retracement of previous rally. A drop towards 1.0940 cannot be ruled out, and if prices manage to reach there, a sharp bullish reversal can be expected.Trading plan:Remain long and add further around 1.0940 levels, stop at 1.0879, target is 1.1500Good luck!The material has been provided by InstaForex Company – www.instaforex.com…

Dollar Exhibits Weakness Against Most Rivals

The U.S. dollar was mostly subdued against major currencies on Thursday, amid a slew of economic data from across the globe and as traders awaited the outcome of the OPEC meet in Vienna. Conflicting reports on U.S.-China trade front weighed as well on the U.S. currency. Data from the Commerce Department showed U.S. trade deficit narrowed to $47.2 billion in October from a revised $51.1 billion in September. Economists had expected the trade deficit to narrow to $48.7 billion from the $52.5 billion originally reported for the previous month. The lower deficit was due to a 1.7% drop in imports at $254.3 billion. Exports were down 0.2% to $207.1 billion in October. Another report from the Commerce Department said new orders for U.S. manufactured goods increased in line with economist estimates in the month of October, rising by 0.3% after falling by a revised 0.8% in September. Economists had expected orders to rise by 0.3% compared to the 0.6% drop originally reported for the previous month. Orders for durable goods climbed by 0.5% compared to the previously reported 0.6% increase, while orders for non-durable goods came in unchanged. Data from the Labor Department showed initial jobless claims slipped to 203,000…

Oil Futures Settle Flat

Crude oil futures failed to hold early gains and settled flat on Thursday as traders awaited the outcome of the Organization of the Petroleum Exporting Countries (OPEC) meet in Vienna. Thursday’s meeting will be followed by a meeting on Friday when Russia and other producers, a group known as OPEC+, will meet to consider production curbs. Oil retreated from higher levels amid reports that a senior official from Saudi oil ministry denied pursuing a deeper round of production curbs. According to reports, OPEC and allies led by Russia are planning to deepen output cuts to prevent oversupply. Currently, the oil cartel is curbing supply by 1.2 million barrels per day. The existing curbs are set to expire in March. Now, the OPEC and allies are considering to deepen cuts by 500,000 barrels per day. The cuts would last through the first quarter of 2020 as against calls for extending cuts until June or December 2020. West Texas Intermediate Crude oil futures for January ended at $58.43 a barrel, unchanged from previous close. On Wednesday, WTI Crude oil futures for January ended up $2.33, or 4.2%, at $58.43 a barrel, after data from Energy Information Administration (EIA) showed a…

Gold Futures Settle Modestly Higher

Gold prices edged modestly higher on Thursday, after equities shed some ground and the dollar edged down against some major currencies, prompting investors to seek the safe haven asset. Sluggish equity markets amid somewhat mixed signals on the U.S.-China trade front contributed as well to gold’s uptick. The dollar index eased to 97.36 and was last seen hovering around 97.40, down by about 0.25% from previous close. Gold futures for February ended up $2.90, or about 0.2%, at $1,483.10 an ounce. On Wednesday, gold futures for February ended down $4.20, or 0.3%, at $1,480.20 an ounce. Silver futures for March ended up $0.143 at $17.059 an ounce, while Copper futures for March settled at $2.6630 per pound, gaining $0.0040 for the session. In trade news, a phase one-trade deal between the U.S. and China was still in the works and a partial resolution would be completed before another set of China tariffs kick in on December 15. Earlier this week, U.S. President Donald Trump said an agreement might have to wait until after the U.S. presidential election in November 2020. U.S. Commerce Secretary Wilbur Ross had said in an interview on Wednesday that planned tariffs on Chinese imports…

EUR/USD. December 5. Results of the day. Euro is growing. Negotiations between China and the US hardly progress

4-hour timeframe
Amplitude of the last 5 days (high-low): 20p – 47p – 87p – 27p – 49p.
Average volatility over the past 5 days: 53p (average).
Following yesterday’s retreat from monthly highs, the EUR/USD pair resumed the upward movement, which is still identified as rather weak. Bulls continue to resist the bears with all their might, but on the whole neither the first nor the second now have the advantage. The paradoxical situation seems to have been left behind, since the euro/dollar pair still managed to move away from the area of two summer lows. However, this does not mean that an upward trend will now begin to form. Neither the bulls nor the bears have a sufficient number of grounds for action.
Meanwhile, traders continue to selectively tear away all the macroeconomic data at their disposal. Recall that yesterday the euro had good chances to show strong growth against the US dollar, as the American report on the change in the number of employees in the private sector, as well as the index of business activity in the ISM services sector failed at the same time, while reports from the eurozone showed a slight improvement compared to…