Tag Archives: XTI USD

*U.S. Industrial Production Dips 0.3% In December

U.S. Industrial Production Dips 0.3% In December The material has been provided by InstaForex Company – www.instaforex.com…

Dollar Rises Vs Most Majors Ahead Of U.S. Industrial Production

Fed’s Industrial production for December will be published at 9.15 am ET Tuesday. Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback held steady against the pound, it rose against the rest of major counterparts. The greenback was worth 110.20 against the yen, 1.1100 against the euro, 1.3044 against the pound and 0.9685 against the franc at 9:10 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

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….

Portugal Producer Prices Decline For Seventh Month

Portugal’s producer prices fell for the seventh month in a row in December, figures from Statistics Portugal showed on Friday. The producer price index fell 1.6 percent year-on-year in December, following a 1.9 percent decline in November. Excluding the energy group, producer prices fell 1.4 percent in December, following a 1.1 percent decrease in the previous month. Prices for intermediate goods and energy declined 3.3 percent and 2.6 percent, respectively, in December. Investment goods prices rose 0.1 percent. On a month-on-month basis, producer prices fell 0.6 percent in December, following a 0.5 percent drop in the prior month. The material has been provided by InstaForex Company – www.instaforex.com…

Italy Inflation As Estimated; Trade Surplus Rises

Italy consumer price inflation increased in December as estimated, final data from the statistical office Istat showed on Friday. Another report from Istat showed that the trade surplus increased in November, albeit decreases in exports and imports. The consumer price index rose 0.5 percent year-on-year in December, following a 0.2 percent increase in November. The increase was in line with the initial estimate. On a month-on-month basis, consumer prices rose 0.2 percent in December, reversing a 0.2 percent fall in the preceding month, as estimated. On an average, consumer prices increased 0.6 percent in 2019. The rate halved from 1.2 percent logged in 2018, as initially estimated. The core inflation slowed to 0.5 percent in 2019 from 0.7 percent in 2018, as estimated. The EU measure or harmonized index or consumer prices, or HICP, rose 0.5 percent in December, following a 0.2 percent increase in the preceding month. This was in line with preliminary estimate. On a monthly basis, the HICP rose 0.2 percent in December, as estimated. On an average, HICP inflation halved to 0.6 percent in 2019 from 1.2 percent in 2018. Separate data showed that the trade surplus increased…

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

On December 13, the GBPUSD pair looked overpriced around the price levels of 1.3500 while exceeding the upper limit of the newly-established bullish channel.On the period between December 18 – 23, bearish breakout below the depicted channel followed by initial bearish closure below 1.3000 were demonstrated on the H4 chart.However, earlier signs of bullish recovery were manifested around 1.2900 denoting high probability of bullish pullback to be expected.Thus, Intraday technical outlook turned into bullish after the GBP/USD has failed to maintain bearish persistence below the newly-established downtrend line.That’s why, bullish breakout above 1.3000 was anticipated. Thus, allowing the recent Intraday bullish pullback to pursue towards 1.3250 (the backside of the broken channel) where bearish rejection and another bearish swing were suggested for conservative traders in previous articles.Intraday bearish target are projected towards 1.3000 and 1.2980 provided that the current bearish breakout below 1.3170 is maintained on the H4 chart.Please also note that two descending highs were recently demonstrated around 1.3120 and 1.3090 which enhances the bearish side of the market.Conservative traders should wait for bearish breakdown below 1.2980, This is needed first to enhance further bearish decline towards 1.2900, 1.2800 and 1.2780 where the backside of the previously-broken downtrend is located.In…

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…

GBP/USD. January 17. We are waiting for a new sales signal. The Briton embarrassed in front of another weak statistics from

GBP/USD – 4H.

As seen on the 4-hour chart, the GBP/USD pair performed a consolidation above the corrective level of 23.6% (1.3048). Along with this consolidation, quotes of the pair closed above two trends and corridors. I have built a small correction line based on the movement of the last days, and if the pair closes below it, then traders will again be able to count on a reversal in favor of the US currency and a resumption of the fall in the direction of the corrective level of 0.0% (1.2904). As we can see, the goal remains the same, however, too long growth of the pound before the expected fall suggests a possible different scenario. In any case, I recommend trying to sell the pair when it is fixed below the Fibo level of 23.6% and the correction line. The “foundation”, in the case of the pound-dollar pair, remains in favor of the dollar. Retail sales in the UK declined by 0.6% m/m in December, with forecasts of +0.7%. These numbers were supposed to cause the British dollar to fall, however, the pair continues to trade with a small amplitude, showing no particular desire to move at the end of the…

Evening review for EURUSD for 01/17/2020. The pressure on the euro intensified

Investor sentiment is getting worse and the global economy is getting more negative. The growth rate in China has fallen to +6.1% and the negative is coming. Investment, sales, and the auto market are all slowing down.In Britain, new retail sales data is weak and the Bank of England is likely to cut the rate.Against this background, the US-Europe trade contradictions are intensifying.EURUSD: The euro is falling towards the support of 1.1100.In the case of a break below 1.1085, we sell.Purchases from 1.1180.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…