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Market analysis โ 40
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๐ Important upcoming events and publications (GMT):
๐ฌ๐ง 09:30 U.K. Construction PMI can cause some volatility in pairs with #GBP, if the actual value significantly diverges from expectations. Analysts are set to see the growth rate maintained, but unpleasant surprises that could trigger a short-term correction for the pound are not excluded.
๐บ๐ธ 12:30 U.S. Nonfarm Payrolls may causes spikes on markets volatility, as the actual figures often diverges from expectations. Markets are waiting for an increase in the number of employed people by 190K, as well as the annual salary growth rate up to 3.2% (max since 2009). A strong discrepancy with the forecasts can help to determine whether we saw a reversal of #USD yesterday or it was a slight stop on the way of growth.
๐จ๐ฆ 12:30 Canada Employment report is released simultaneously with statistics from the United States, which makes the fate of #CAD even more unpredictable immediately after release. Several previous reports have noted an alarming trend towards a decline in full-time employment growth.
Visit https://fxpro.news/economic-calendar/ for the details.
๐ฌ๐ง 09:30 U.K. Construction PMI can cause some volatility in pairs with #GBP, if the actual value significantly diverges from expectations. Analysts are set to see the growth rate maintained, but unpleasant surprises that could trigger a short-term correction for the pound are not excluded.
๐บ๐ธ 12:30 U.S. Nonfarm Payrolls may causes spikes on markets volatility, as the actual figures often diverges from expectations. Markets are waiting for an increase in the number of employed people by 190K, as well as the annual salary growth rate up to 3.2% (max since 2009). A strong discrepancy with the forecasts can help to determine whether we saw a reversal of #USD yesterday or it was a slight stop on the way of growth.
๐จ๐ฆ 12:30 Canada Employment report is released simultaneously with statistics from the United States, which makes the fate of #CAD even more unpredictable immediately after release. Several previous reports have noted an alarming trend towards a decline in full-time employment growth.
Visit https://fxpro.news/economic-calendar/ for the details.
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
The telephone conversation between the leaders of two major world economies has shown that there is still an opportunity to settle trade disputes. Asian indices have added more than 4% since the beginning of the week, which is the strongest rally in almost two and a half years.
But it is hardly worth the hope for easy progress, as earlier this year there have been many negotiations at different levels, and the situation has only grown worse. The growth of markets in this context is rather a weakness of the Asian market in recent years than a cause for optimism. Despite the rebound, the blue-chip index of the Shanghai Stock Exchange China A50 remains within the range of the last 4 months.
Futures on S&P500 are adding 0.8% this morning and more than 4% from the beginning of the week. The fourth day of growth returned the index to the reach of 200-day average, reflecting the restoration of faith in the prospects of the American economy, despite a number of weak reports from IT companies.
Read more
But it is hardly worth the hope for easy progress, as earlier this year there have been many negotiations at different levels, and the situation has only grown worse. The growth of markets in this context is rather a weakness of the Asian market in recent years than a cause for optimism. Despite the rebound, the blue-chip index of the Shanghai Stock Exchange China A50 remains within the range of the last 4 months.
Futures on S&P500 are adding 0.8% this morning and more than 4% from the beginning of the week. The fourth day of growth returned the index to the reach of 200-day average, reflecting the restoration of faith in the prospects of the American economy, despite a number of weak reports from IT companies.
Read more
FxPro News
FxPro Blog for forex traders
Chinese equities are developing a rebound on Friday, supported by the hopes for progress in China and the US trade negotiations. The telephone convers...
Nonfarm Payrolls was published. What are the results?
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%), it is worth paying attention that the American economy retains the trend growth rate after the failure in September (fact - above average for half a year).
The unemployment rate remained at 3.7% (lows since 1969), although participation rate (the share of the economically active population) returned up to 62.9%.
There is one small point to stay a little bit caution. The average hourly earnings in the U.S. for October rose by 0.2% to 3.1% yoy, which is slightly worse than expected 3.2%.
Anyway, this is the highest growth rate since 2009 and a return to pre-crisis rates.
At the moment, the labour market retains its power and remains extremely "tight". This could be a strong signal for the Fed to continue tightening the policy.
Perhaps these fears were the reason for the return of tensions in the US stock markets, where key indices went down immediately after the publication of a strong employment report.
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%), it is worth paying attention that the American economy retains the trend growth rate after the failure in September (fact - above average for half a year).
The unemployment rate remained at 3.7% (lows since 1969), although participation rate (the share of the economically active population) returned up to 62.9%.
There is one small point to stay a little bit caution. The average hourly earnings in the U.S. for October rose by 0.2% to 3.1% yoy, which is slightly worse than expected 3.2%.
Anyway, this is the highest growth rate since 2009 and a return to pre-crisis rates.
At the moment, the labour market retains its power and remains extremely "tight". This could be a strong signal for the Fed to continue tightening the policy.
Perhaps these fears were the reason for the return of tensions in the US stock markets, where key indices went down immediately after the publication of a strong employment report.
As the Bitcoin continues to trade sideways near $6,300, leading commentators declare they are โpleasantly surprisedโ with the market stability.
Stablecoins can be new crypto market triggers as recently they have been actively gaining capitalization and has grown numerically.
While Tether lost about $1 billion of capitalization only in October, Gemini Dollar (GUSD), Paxos Standart (PAX), TrueUSD (TUSD), USD Coin (USDC) all together attracted more than $400 million. Different large projects are standing behind these tokens, but overall they may have one goal: to have at their disposal the โmanual analogue of digital liquidityโ in order to be able to influence the market in future.
Read more
Stablecoins can be new crypto market triggers as recently they have been actively gaining capitalization and has grown numerically.
While Tether lost about $1 billion of capitalization only in October, Gemini Dollar (GUSD), Paxos Standart (PAX), TrueUSD (TUSD), USD Coin (USDC) all together attracted more than $400 million. Different large projects are standing behind these tokens, but overall they may have one goal: to have at their disposal the โmanual analogue of digital liquidityโ in order to be able to influence the market in future.
Read more
FxPro News
FxPro Blog for forex traders
As the Bitcoin continues to trade sideways near $6,300, leading commentators declare they are โpleasantly surprisedโ with the market stability sim...
Important upcoming events and publications on November, 5:
๐ฌ๐ง 09:30 U.K. Services PMI is able to influence the British currency, as traders and investors will try to assess how much the uncertainty around Brexit has affected business sentiment. The Manufacturing index last week came out noticeably lower than expectations, while activity in the Construction was above forecast.
๐บ๐ธ 14:45 US Services PMI by Markit is interesting because of its comparation with the European business activity indices. In fact, it is the more realistic indicator to track the difference in growth rates between Europe and USA.
๐บ๐ธ 15:00 ISM Non-manufacturing PMI is a good indicator of US business activity, but is likely to have less impact on the markets this time, as it is published after the US employment statistics.
Visit https://fxpro.news/economic-calendar/ for the details
๐ฌ๐ง 09:30 U.K. Services PMI is able to influence the British currency, as traders and investors will try to assess how much the uncertainty around Brexit has affected business sentiment. The Manufacturing index last week came out noticeably lower than expectations, while activity in the Construction was above forecast.
๐บ๐ธ 14:45 US Services PMI by Markit is interesting because of its comparation with the European business activity indices. In fact, it is the more realistic indicator to track the difference in growth rates between Europe and USA.
๐บ๐ธ 15:00 ISM Non-manufacturing PMI is a good indicator of US business activity, but is likely to have less impact on the markets this time, as it is published after the US employment statistics.
Visit https://fxpro.news/economic-calendar/ for the details
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
Strong employment data heightened the fears that the Fed will actively raise rates in the coming months to prevent overheating of the economy and not to push inflation out of control.
The trend of folding incentives was supported on Monday morning by the head of the Bank of Japan comments. In his speech, Kuroda noted that the strengthening of the economy allows to abandon excessively soft monetary policy.
A little over a week ago, the ECB head pointed to the continuation of plans to winding down the QE programme. Bank of England last week hints its intention to raise rates more decisively if Brexit will go smoothly.
Such a tone from large and influential central banks is developing fears in the markets about the lack of liquidity in the markets.
Read more
The trend of folding incentives was supported on Monday morning by the head of the Bank of Japan comments. In his speech, Kuroda noted that the strengthening of the economy allows to abandon excessively soft monetary policy.
A little over a week ago, the ECB head pointed to the continuation of plans to winding down the QE programme. Bank of England last week hints its intention to raise rates more decisively if Brexit will go smoothly.
Such a tone from large and influential central banks is developing fears in the markets about the lack of liquidity in the markets.
Read more
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Nonfarm Payrolls was published. What are the results?
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%)โฆ
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%)โฆ
#WeeklyQuote
Trump's Twitter: "I had a long and very good conversation with President Xi Jinping of China... with a heavy emphasis on Trade. Those discussions are moving along nicely..."
https://twitter.com/realDonaldTrump/status/1057997981922873344
This helped markets to lift a bit at the end of last week after reports that Trump asked key cabinet secretaries to have their staff draw up a potential deal. Let's see what would become a driver this day!
Trump's Twitter: "I had a long and very good conversation with President Xi Jinping of China... with a heavy emphasis on Trade. Those discussions are moving along nicely..."
https://twitter.com/realDonaldTrump/status/1057997981922873344
This helped markets to lift a bit at the end of last week after reports that Trump asked key cabinet secretaries to have their staff draw up a potential deal. Let's see what would become a driver this day!
Twitter
Donald J. Trump
Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussionโฆ
Wave Analysis: #Palladium is expected to rise further and re-test the next resistance level 1130.00. Read more
Brent crude lost more than 16% from its peak value in early October. Essentially, a decrease of more than 20% from peak value is considered a sign of a bear market for the instrument and indicates a further decline.
During the October sale-off, the oil fell under the support line of the upward channel. However, such an exit from the channel still requires confirmation. Strictly speaking, price should fall below previous local lows.
It is interesting to see both lines dangerously passing close to the round level of $70. There is also an important prior support area, from which Brent Crude returned to growth in August.
Fundamentally, there are fears of a new episode of overproduction. However, the importance of technical analysis and psychological mark in this case are difficult to overestimate.
Alternative scenario: If Brent manages to stay above $70, this will imply a very strong signal for further growth.
During the October sale-off, the oil fell under the support line of the upward channel. However, such an exit from the channel still requires confirmation. Strictly speaking, price should fall below previous local lows.
It is interesting to see both lines dangerously passing close to the round level of $70. There is also an important prior support area, from which Brent Crude returned to growth in August.
Fundamentally, there are fears of a new episode of overproduction. However, the importance of technical analysis and psychological mark in this case are difficult to overestimate.
Alternative scenario: If Brent manages to stay above $70, this will imply a very strong signal for further growth.