☕ Happy Monday!
📅 Here are the important events that await traders this week:
1. RBA Rate Statement (Tue, 07:30 MT time) – no change in the rate or the central bank’s guidance are expected.
2. RBNZ Rate Statement (Thu, 00:00 MT time) – according to forecasts, the central bank won’t change the interest rate but will cut GDP forecast. NZD is at risk of further declines.
3. US PPI (Thu, 15:30 MT time) – the forecast is not very good for the USD. Will there be a positive surprise?
4. British GDP & Manufacturing Production (Fri, 11:30 MT time) – with all the Brexit concerns, the GBP needs good figures. Otherwise, it will suffer.
5. US CPI (Fri, 15:30 MT time) – forecasts are OK. It’s a chance to trade on the news at the end of the week.
Other events: China’s trade balance on Wed, Japanese GDP on Fri.
📌 There are also some other “hot” topics:
🔸USD: US-China trade tensions intensify. President Trump declares a hard line and makes new threats in Twitter, China answers US tariffs with its own.
🔸USD/CNH: China’s central bank stepped in to support its currency, so the yuan regained the ground against the US dollar.
🔸GBP: British trade minister Liam Fox said over the weekend the odds of Britain leaving the EU without agreeing on a deal equal to 60%. The poor GBP!
📅 Here are the important events that await traders this week:
1. RBA Rate Statement (Tue, 07:30 MT time) – no change in the rate or the central bank’s guidance are expected.
2. RBNZ Rate Statement (Thu, 00:00 MT time) – according to forecasts, the central bank won’t change the interest rate but will cut GDP forecast. NZD is at risk of further declines.
3. US PPI (Thu, 15:30 MT time) – the forecast is not very good for the USD. Will there be a positive surprise?
4. British GDP & Manufacturing Production (Fri, 11:30 MT time) – with all the Brexit concerns, the GBP needs good figures. Otherwise, it will suffer.
5. US CPI (Fri, 15:30 MT time) – forecasts are OK. It’s a chance to trade on the news at the end of the week.
Other events: China’s trade balance on Wed, Japanese GDP on Fri.
📌 There are also some other “hot” topics:
🔸USD: US-China trade tensions intensify. President Trump declares a hard line and makes new threats in Twitter, China answers US tariffs with its own.
🔸USD/CNH: China’s central bank stepped in to support its currency, so the yuan regained the ground against the US dollar.
🔸GBP: British trade minister Liam Fox said over the weekend the odds of Britain leaving the EU without agreeing on a deal equal to 60%. The poor GBP!
👌 Every day we hear something about Brexit. The news has a great impact on the GBP.
Do you have trouble understanding how serious the situation is?
Bloomberg created a special barometer that shows how the UK economy is responding to the Brexit process. Check it daily to see whether the clouds over Britain gather or clear away.
https://www.bloomberg.com/graphics/2017-brexit-barometer/
Do you have trouble understanding how serious the situation is?
Bloomberg created a special barometer that shows how the UK economy is responding to the Brexit process. Check it daily to see whether the clouds over Britain gather or clear away.
https://www.bloomberg.com/graphics/2017-brexit-barometer/
#Bankforecasts
↗ JP Morgan bets on the long JPY because of 2 reasons. The first one is trade tensions. The second one is changes in the BOJ monetary policy (greater volatility in 10Y JGB yields).
↘ Goldman Sachs predicts USD/CNH at 6.90-7.10 in 3-6 months. In 12 months, the yuan will have chances to recover to 6.6. Moreover, the bank bets on a trade deal between China and the US, but before that, tensions will escalate.
↗ JP Morgan bets on the long JPY because of 2 reasons. The first one is trade tensions. The second one is changes in the BOJ monetary policy (greater volatility in 10Y JGB yields).
↘ Goldman Sachs predicts USD/CNH at 6.90-7.10 in 3-6 months. In 12 months, the yuan will have chances to recover to 6.6. Moreover, the bank bets on a trade deal between China and the US, but before that, tensions will escalate.
The RBNZ meeting on August 9 at 00:00 MT time
The market doesn’t expect any changes in the interest rate, but bank’s comments may affect the market.
🔱 A Westpac forecast:
↔ 70% - neutral effect on the NZD. Westpac anticipates the same monetary policy statement as the previous one.
⬇ 20% - dovish outcome. Bank’s interest rate forecast is lowered. May Budget is assessed as negative. As a result, NZD/USD falls.
⬆ 10% - hawkish outcome. The interest rate forecast is increased slightly. As a result, NZD/USD is up.
Current technical setup📈
The NZD/USD trading has been uncertain. Bears have been trying to pull the pair up, however, the RBNZ meeting makes traders worry. Up to now, the pair has been trading near 0.6735.
🔻 If the RBNZ is neutral and the USD appreciates, there are risks of the fall below the support at 0.6719. The next support is at 0.6685. The same scenario is anticipated if the bank is dovish.
🔺 In case of the hawkish central bank, the pair will go to the resistance at 0.6785 (the trendline).
The market doesn’t expect any changes in the interest rate, but bank’s comments may affect the market.
🔱 A Westpac forecast:
↔ 70% - neutral effect on the NZD. Westpac anticipates the same monetary policy statement as the previous one.
⬇ 20% - dovish outcome. Bank’s interest rate forecast is lowered. May Budget is assessed as negative. As a result, NZD/USD falls.
⬆ 10% - hawkish outcome. The interest rate forecast is increased slightly. As a result, NZD/USD is up.
Current technical setup📈
The NZD/USD trading has been uncertain. Bears have been trying to pull the pair up, however, the RBNZ meeting makes traders worry. Up to now, the pair has been trading near 0.6735.
🔻 If the RBNZ is neutral and the USD appreciates, there are risks of the fall below the support at 0.6719. The next support is at 0.6685. The same scenario is anticipated if the bank is dovish.
🔺 In case of the hawkish central bank, the pair will go to the resistance at 0.6785 (the trendline).
Greetings to all traders!
The latest news
⬇ NZD/USD fell to a 2-year low at 0.6650 after New Zealand central bank pushed out its forecast for a rate increase by a year because of a weak economic growth outlook. The downtrend continues.
🇨🇳 China said it will impose 25% tariffs on an additional $16 billion worth of imports from the US 🇺🇸 from Aug. 23, matching Washington’s latest move in the trade war.
⛽ Oil is steady after a big decline yesterday. The market reacted more to concerns about trade wars than to the decline in the US inventories.
Coming soon
🔸 Japan and the United States will negotiate trade today. Concerns about this and speculation that the Bank of Japan may adjust its monetary policy put pressure on USD/JPY.
🇯🇵
🔸 US PPI at 15:30 MT time. A slowdown in growth is expected.
Analyst's ideas
🔸 USD/JPY: SELL – 111.15; SL – 111.70; TP1 – 110.15; TP2 – 109.90; TP3 – 109.00.
🔸 EUR/JPY: SELL – 128.50; SL – 129.05; TP1 – 127.70; TP2 – 127.20; TP3 – 126.20.
The latest news
⬇ NZD/USD fell to a 2-year low at 0.6650 after New Zealand central bank pushed out its forecast for a rate increase by a year because of a weak economic growth outlook. The downtrend continues.
🇨🇳 China said it will impose 25% tariffs on an additional $16 billion worth of imports from the US 🇺🇸 from Aug. 23, matching Washington’s latest move in the trade war.
⛽ Oil is steady after a big decline yesterday. The market reacted more to concerns about trade wars than to the decline in the US inventories.
Coming soon
🔸 Japan and the United States will negotiate trade today. Concerns about this and speculation that the Bank of Japan may adjust its monetary policy put pressure on USD/JPY.
🇯🇵
🔸 US PPI at 15:30 MT time. A slowdown in growth is expected.
Analyst's ideas
🔸 USD/JPY: SELL – 111.15; SL – 111.70; TP1 – 110.15; TP2 – 109.90; TP3 – 109.00.
🔸 EUR/JPY: SELL – 128.50; SL – 129.05; TP1 – 127.70; TP2 – 127.20; TP3 – 126.20.
#BREAKINGNEWS
🔴The USD is at new highs - the EUR is at risk🔴
💥 Despite negative Thursday PPI data, the US dollar index surged to highs of July 2017. Up to now, the index has been trading near 96.05. The market is waiting for CPI data (15:30 MT time). The greater economic data may pull the index even higher.
As a result of the US surge, other currencies have significantly fallen.
😱 The euro is under additional pressure. The European Central Bank is concerned over the impact of a weak Turkish lira on European banks.
EUR/USD fell to lows of July 2017 near 1.1432. The psychological level at 1.15 has been tested. As a result, risks of the further fall have highly increased.
If the pair closes below 1.15, we can anticipate a significant plunge below 1.13‼
🔴The USD is at new highs - the EUR is at risk🔴
💥 Despite negative Thursday PPI data, the US dollar index surged to highs of July 2017. Up to now, the index has been trading near 96.05. The market is waiting for CPI data (15:30 MT time). The greater economic data may pull the index even higher.
As a result of the US surge, other currencies have significantly fallen.
😱 The euro is under additional pressure. The European Central Bank is concerned over the impact of a weak Turkish lira on European banks.
EUR/USD fell to lows of July 2017 near 1.1432. The psychological level at 1.15 has been tested. As a result, risks of the further fall have highly increased.
If the pair closes below 1.15, we can anticipate a significant plunge below 1.13‼
#EDUCATION
Happy Saturday friends☀
We prepared something interesting for you!
The Forex trading is full of so difficult but so significant words. We present you the list of the most important definitions without which you aren’t able to start trading❗
🔷 Deposit – sum you put on your account.
🔶 Leverage – an ability to trade with a big amount of money using a very little sum of your own. E.g., you have $1,000 but want to trade $100,000 position, $99,000 will be provided by the broker. In this case, the leverage is 1:100.
🔷 Account equity – the sum of your own money you have on the account which factors in profit/loss on your current open positions.
🔶 Margin – the minimum amount of your own money you need to have on the account to open a position (1-2% of the position size).
🔷 Used margin – the total sum of margin used for all open positions.
🔶 Free margin – the sum of your balance that is available to open a new position (= account equity – used margin).
🔷 Margin call – if you are losing money on a trade, your broker gives you a warning. E.g., at FBS, you’ll get a margin call if your account equity drops to 40% of the margin and lower (40% of $1,000 margin = $400).
🔶 Stop out – in case you kept a losing position, the broker will close it at the current market price if your equity drops to a certain level. (At FBS, the level is 20%. It means that if your sum falls to $200 from $1,000, your position will be closed automatically).
Happy Saturday friends☀
We prepared something interesting for you!
The Forex trading is full of so difficult but so significant words. We present you the list of the most important definitions without which you aren’t able to start trading❗
🔷 Deposit – sum you put on your account.
🔶 Leverage – an ability to trade with a big amount of money using a very little sum of your own. E.g., you have $1,000 but want to trade $100,000 position, $99,000 will be provided by the broker. In this case, the leverage is 1:100.
🔷 Account equity – the sum of your own money you have on the account which factors in profit/loss on your current open positions.
🔶 Margin – the minimum amount of your own money you need to have on the account to open a position (1-2% of the position size).
🔷 Used margin – the total sum of margin used for all open positions.
🔶 Free margin – the sum of your balance that is available to open a new position (= account equity – used margin).
🔷 Margin call – if you are losing money on a trade, your broker gives you a warning. E.g., at FBS, you’ll get a margin call if your account equity drops to 40% of the margin and lower (40% of $1,000 margin = $400).
🔶 Stop out – in case you kept a losing position, the broker will close it at the current market price if your equity drops to a certain level. (At FBS, the level is 20%. It means that if your sum falls to $200 from $1,000, your position will be closed automatically).
📆 What this week will bring us!
British Average Earnings Index (Tue, 11:30 MT time) – the forecast is neutral. Only greater economic data will pull the GBP out of the negative area.
British CPI (Wed, 11:30 MT time) – the forecast is encouraging. Will the GBP finally strengthen?
US Retail Sales and Core Retail Sales (Wed, 15:30 MT time) – the forecast is mixed. Let’s see whether the actual data brings the USD to new highs.
Australian Job data (Thu, 4:30 MT time) – the forecast is weak. Weak economic data will pull the AUD to lows of the end of 2016.
Canadian CPI (Fri, 15:30 MT time) – the Canadian dollar needs support in times of the strong USD and the unstable oil market.
🔥 Hot topics:
🔺 The Turkish lira extends fall, as there is no progress in Turkish-US tensions. Early on Monday, USD/TRY broke above 7. Although the pair has been moving down up to now, the soon recovery of the lira is not anticipated.
🔺 The fall of lira causes problems for the EUR. The European central bank is worried about the European banks’ exposure to Turkey. The euro is in the dangerous zone.
🔺 The plunge of the Turkish lira caused a fall of the emerging market currencies. The South African rand and Mexican peso significantly fell early on Monday. The further escalation of Turkish-US tensions will pull EM currencies further down.
British Average Earnings Index (Tue, 11:30 MT time) – the forecast is neutral. Only greater economic data will pull the GBP out of the negative area.
British CPI (Wed, 11:30 MT time) – the forecast is encouraging. Will the GBP finally strengthen?
US Retail Sales and Core Retail Sales (Wed, 15:30 MT time) – the forecast is mixed. Let’s see whether the actual data brings the USD to new highs.
Australian Job data (Thu, 4:30 MT time) – the forecast is weak. Weak economic data will pull the AUD to lows of the end of 2016.
Canadian CPI (Fri, 15:30 MT time) – the Canadian dollar needs support in times of the strong USD and the unstable oil market.
🔥 Hot topics:
🔺 The Turkish lira extends fall, as there is no progress in Turkish-US tensions. Early on Monday, USD/TRY broke above 7. Although the pair has been moving down up to now, the soon recovery of the lira is not anticipated.
🔺 The fall of lira causes problems for the EUR. The European central bank is worried about the European banks’ exposure to Turkey. The euro is in the dangerous zone.
🔺 The plunge of the Turkish lira caused a fall of the emerging market currencies. The South African rand and Mexican peso significantly fell early on Monday. The further escalation of Turkish-US tensions will pull EM currencies further down.
Find out how the Turkish crisis has affected the GBP😱
https://fbs.com/analytics/articles/will-the-gbp-beat-the-usd-or-the-eur-11109
https://fbs.com/analytics/articles/will-the-gbp-beat-the-usd-or-the-eur-11109
#TradeIdeas from FBS team
⬆ Ivan Karamazov proposes buying USD/CHF at 0.9975 with SL at 0.9920 and TP at 1.0075 and 1.0175.
⬇ Andi Zabur Rahman suggests selling GBP/USD with SL at 1.2730 and TP at 1.2610.
⬆ Ivan Karamazov proposes buying USD/CHF at 0.9975 with SL at 0.9920 and TP at 1.0075 and 1.0175.
⬇ Andi Zabur Rahman suggests selling GBP/USD with SL at 1.2730 and TP at 1.2610.
This week BTC tested levels below $6,000 but then managed to pull back up. There are interesting trade opportunities in this market. We have assembled the most important information for you:
📠 #WeeklyCryptonews
https://fbs.com/analytics/news/#weeklycryptonews-3237
🚀 Analytics: is Bitcoin able to recover?
https://fbs.com/analytics/articles/bitcoin-started-recovering-11146
What do you think is the short-term destination of BTC?
📠 #WeeklyCryptonews
https://fbs.com/analytics/news/#weeklycryptonews-3237
🚀 Analytics: is Bitcoin able to recover?
https://fbs.com/analytics/articles/bitcoin-started-recovering-11146
What do you think is the short-term destination of BTC?
Forex Broker Online
Powerful Forex Analytics: Expert Forex Analysis Tools
Unlock success with comprehensive forex analytics and precise forex analysis tools for informed trading decisions. Elevate your forex strategy today.
Happy Monday! Join our weekly webinar today at 13:00 MT time (GMT+3)!
You will get:
📣 Market-moving Forex news
📈 Technical outlook for major currency pairs
📅 Economic calendar for the weak ahead
➡ Register here: https://register.gotowebinar.com/register/7370340194692190209
You will get:
📣 Market-moving Forex news
📈 Technical outlook for major currency pairs
📅 Economic calendar for the weak ahead
➡ Register here: https://register.gotowebinar.com/register/7370340194692190209
📅 5 important things you need to know about this week!
🔸RBA Governor Mr. Lowe Speaks (Tue, 01:00 MT time) – traders will get clues on the current economic situation to forecast the further direction of the AUD.
🔹NZ Retail Sales (Wed, 1:45 MT time) – the forecast is encouraging. A chance for the NZD to recover.
🔸Canadian Core Retail Sales (Wed, 15:30 MT time) – the forecast is unknown. Will the CAD get support in times of NAFTA uncertainties?
🔹Jackson Hole Symposium (Thu, Day 1) – a big event where representatives of the financial markets and central banks meet. Clues on the economic conditions are anticipated.
🔸US Core Durable Goods Orders (Friday, 15:30 MT time) – the forecast is encouraging. Chances for the USD to regain previous highs.
💥 Hot topics:
🔺US-China talks are resumed. Parties will meet on Aug 22 and Aug 23 to discuss trade disputes. Let’s see whether they agree on something new.
🔺Brexit negotiations are in the arena again. UK Brexit secretary will go to Brussels this week to continue negotiations with the EU. On Thursday, the UK will begin publishing plans on how to keep the economy afloat next March if no trade deal is achieved.
🔺Some news on the NAFTA deal is in place this week. The forecast is cloudy. Any impact on markets is anticipated.
🔸RBA Governor Mr. Lowe Speaks (Tue, 01:00 MT time) – traders will get clues on the current economic situation to forecast the further direction of the AUD.
🔹NZ Retail Sales (Wed, 1:45 MT time) – the forecast is encouraging. A chance for the NZD to recover.
🔸Canadian Core Retail Sales (Wed, 15:30 MT time) – the forecast is unknown. Will the CAD get support in times of NAFTA uncertainties?
🔹Jackson Hole Symposium (Thu, Day 1) – a big event where representatives of the financial markets and central banks meet. Clues on the economic conditions are anticipated.
🔸US Core Durable Goods Orders (Friday, 15:30 MT time) – the forecast is encouraging. Chances for the USD to regain previous highs.
💥 Hot topics:
🔺US-China talks are resumed. Parties will meet on Aug 22 and Aug 23 to discuss trade disputes. Let’s see whether they agree on something new.
🔺Brexit negotiations are in the arena again. UK Brexit secretary will go to Brussels this week to continue negotiations with the EU. On Thursday, the UK will begin publishing plans on how to keep the economy afloat next March if no trade deal is achieved.
🔺Some news on the NAFTA deal is in place this week. The forecast is cloudy. Any impact on markets is anticipated.
Have you seen it? EUR/USD rose to 1.16!
☝ This pair acts as a barometer of the market’s risk sentiment. Traders await positive news of the US-China trade talks. In addition, the US President Donald Trump has recently criticized the Federal Reserve’s rate hikes, and the USD weakened.
However, EUR/USD came close to resistance of a trend line and 50-day MA. The euro needs to get above 1.1635 to return to 1.1725. Support is at 1.15.
⬇ If there are no big results from trade talks (this is likely given the fact that the negotiations are not at the top level) and the Fed’s minutes (released today at 21:00 MT time) is hawkish, EUR/USD will turn down.
⬆ If the Fed’s minutes show that the US central bank is concerned with trade tensions, we may see EUR/USD break above the trend line and test higher levels.
☝ This pair acts as a barometer of the market’s risk sentiment. Traders await positive news of the US-China trade talks. In addition, the US President Donald Trump has recently criticized the Federal Reserve’s rate hikes, and the USD weakened.
However, EUR/USD came close to resistance of a trend line and 50-day MA. The euro needs to get above 1.1635 to return to 1.1725. Support is at 1.15.
⬇ If there are no big results from trade talks (this is likely given the fact that the negotiations are not at the top level) and the Fed’s minutes (released today at 21:00 MT time) is hawkish, EUR/USD will turn down.
⬆ If the Fed’s minutes show that the US central bank is concerned with trade tensions, we may see EUR/USD break above the trend line and test higher levels.
#BreakingNews
Another important factor to consider!
Two ex-advisers of the US President Donald Trump are facing prison sentences - and one of them saying Trump told him to commit a crime.
Former Trump campaign manager Paul Manafort was found guilty on tax and bank fraud charges, while Trump’s former personal lawyer, Michael Cohen, pleaded guilty to a range of charges. Cohen also testified that Trump directed him to commit a crime by arranging payments ahead of the 2016 presidential election to silence two women who said they had had affairs with Trump.
➡ No doubts that Trump faces serious political problems. This is negative for the USD.
Another important factor to consider!
Two ex-advisers of the US President Donald Trump are facing prison sentences - and one of them saying Trump told him to commit a crime.
Former Trump campaign manager Paul Manafort was found guilty on tax and bank fraud charges, while Trump’s former personal lawyer, Michael Cohen, pleaded guilty to a range of charges. Cohen also testified that Trump directed him to commit a crime by arranging payments ahead of the 2016 presidential election to silence two women who said they had had affairs with Trump.
➡ No doubts that Trump faces serious political problems. This is negative for the USD.
Hello traders! The minutes of the Federal Reserve’s August meeting showed that the US central bank doesn’t plan to change the pace of its monetary policy tightening. The USD broadly strengthened.
Is it easy or hard to manage a central bank? You can try this game and see for yourself! Here you will need to decide whether to raise or cut the interest rate. The goal is to keep the economic indicators at the target levels and get reappointed as the Fed chief!
🎮 Play the game: https://sffed-education.org/chairthefed/
Is it easy or hard to manage a central bank? You can try this game and see for yourself! Here you will need to decide whether to raise or cut the interest rate. The goal is to keep the economic indicators at the target levels and get reappointed as the Fed chief!
🎮 Play the game: https://sffed-education.org/chairthefed/
Chair the Fed Game
Chair the Fed: A monetary policy game
Think you have what it takes to run our country’s central bank? See if you can achieve full employment and low inflation as Chair of the Fed.
Hello, everyone! It’s an active trading Friday. Join the market!
📰 Main topics
- There was no progress during the 2 days of the US-China trade talks. Both parties are preparing new tariffs.
- Fears of no-deal Brexit remain high.
- There was some political uncertainty in Australia, but the things are returning to normal. Scott Morrison won a Liberal Party leadership battle and will replace Malcolm Turnbull as prime minister. AUD rose on Friday after Thursday’s selloff (S: 0.72; R: 0.73, 0.7350).
- Oil rose as global supply declined (WTI at 68.41, Brent at 75.28).
- US regulator (SEC) rejected requests to list 9 cryptocurrency funds, citing continuing concerns about manipulation and market surveillance. BTC/USD spiked above $6800 on Wednesday but didn’t manage to hold there and trades just above $6500.
🔔 Coming soon
17:00 GMT – Fed Chair Powell will speak in Jackson Hole. The speech will draw great attention after President Trump criticized central bank’s policy.
💡 Trade ideas
EUR/USD
BUY – 1.1630; SL 1.1575; TP1 – 1.1730; TP2 – 1.1780; TP3 – 1.1850.
BUY – 1.1500; SL 1.1445; TP1 – 1.1600; TP2 –1.1730; TP3 – 1.1780.
EUR/GBP
BUY – 0.9030; SL 0.8975; TP1 – 0.9115; TP2 – 0.9735.
XAU/USD
BUY; TP – 1196; SL – 1186.
📰 Main topics
- There was no progress during the 2 days of the US-China trade talks. Both parties are preparing new tariffs.
- Fears of no-deal Brexit remain high.
- There was some political uncertainty in Australia, but the things are returning to normal. Scott Morrison won a Liberal Party leadership battle and will replace Malcolm Turnbull as prime minister. AUD rose on Friday after Thursday’s selloff (S: 0.72; R: 0.73, 0.7350).
- Oil rose as global supply declined (WTI at 68.41, Brent at 75.28).
- US regulator (SEC) rejected requests to list 9 cryptocurrency funds, citing continuing concerns about manipulation and market surveillance. BTC/USD spiked above $6800 on Wednesday but didn’t manage to hold there and trades just above $6500.
🔔 Coming soon
17:00 GMT – Fed Chair Powell will speak in Jackson Hole. The speech will draw great attention after President Trump criticized central bank’s policy.
💡 Trade ideas
EUR/USD
BUY – 1.1630; SL 1.1575; TP1 – 1.1730; TP2 – 1.1780; TP3 – 1.1850.
BUY – 1.1500; SL 1.1445; TP1 – 1.1600; TP2 –1.1730; TP3 – 1.1780.
EUR/GBP
BUY – 0.9030; SL 0.8975; TP1 – 0.9115; TP2 – 0.9735.
XAU/USD
BUY; TP – 1196; SL – 1186.
#ECONOMICCALENDAR
📣 5 important things you need to know about this week!
▫US Prelim GDP (Wed, 15:30 MT time) – the USD really needs support to return to previous highs. The forecast is weak, but if the actual data is greater, the USD will rise.
▪ANZ Business Confidence (Thu, 04:00 MT time) – traders will trade the NZD on the businesses’ survey. The figure above 0 is good for the economy and the NZD, below 0 is negative for the economy and the NZD.
▫AUD Private Capital Expenditure (Thu, 04:30 MT time) – traders will get clues on the change in the total inflation-adjusted value of businesses’ new capital expenditures. The forecast is encouraging. The AUD has chances to rise.
▪CAD GDP (Thu, 15:30 MT time) – GDP is a leading measure of the economic activity. If the actual data is greater than the forecast, the CAD will go up.
▫EUR CPI Flash Estimate (Fri, 12:00 MT time) – the forecast is neutral. If the actual data exceeds the forecast, the EUR will rise.
💥Hot topics:
⚪ Turkish markets are back. Last week Turkish markets were on a break, but since Monday, they have been resuming trading. It may create significant moves of the Turkish lira. Be careful!
⚪ Wavy Italy. Italy isn’t happy that the EU ignores the migrant’s deal reached in June. As a result, Italy is ready to veto the EU budget. Uncertainties will pull the EUR down.
⚪ NAFTA, again NAFTA. The US and Mexico are near to reach the NAFTA deal. However, it will take about one week to negotiate with Canada. News will create volatility in the USD, the MXN, and the CAD.
📣 5 important things you need to know about this week!
▫US Prelim GDP (Wed, 15:30 MT time) – the USD really needs support to return to previous highs. The forecast is weak, but if the actual data is greater, the USD will rise.
▪ANZ Business Confidence (Thu, 04:00 MT time) – traders will trade the NZD on the businesses’ survey. The figure above 0 is good for the economy and the NZD, below 0 is negative for the economy and the NZD.
▫AUD Private Capital Expenditure (Thu, 04:30 MT time) – traders will get clues on the change in the total inflation-adjusted value of businesses’ new capital expenditures. The forecast is encouraging. The AUD has chances to rise.
▪CAD GDP (Thu, 15:30 MT time) – GDP is a leading measure of the economic activity. If the actual data is greater than the forecast, the CAD will go up.
▫EUR CPI Flash Estimate (Fri, 12:00 MT time) – the forecast is neutral. If the actual data exceeds the forecast, the EUR will rise.
💥Hot topics:
⚪ Turkish markets are back. Last week Turkish markets were on a break, but since Monday, they have been resuming trading. It may create significant moves of the Turkish lira. Be careful!
⚪ Wavy Italy. Italy isn’t happy that the EU ignores the migrant’s deal reached in June. As a result, Italy is ready to veto the EU budget. Uncertainties will pull the EUR down.
⚪ NAFTA, again NAFTA. The US and Mexico are near to reach the NAFTA deal. However, it will take about one week to negotiate with Canada. News will create volatility in the USD, the MXN, and the CAD.
Do you trade gold? Check this!
😎
The metal retraced 23.6% of April-August decline.
FBS analyst suggests to buy gold on the pullback down: BUY – 1196; SL – 1181; TP1 – 1222; TP2 – 1264; TP3 –1285.
😎
The metal retraced 23.6% of April-August decline.
FBS analyst suggests to buy gold on the pullback down: BUY – 1196; SL – 1181; TP1 – 1222; TP2 – 1264; TP3 –1285.
Happy Friday! Never skip an opportunity to learn. 📈 Here are some important candlesticks & patterns to memorize:
