FX: fluctuations fell sharply in anticipation of important employment data, leaving rates barely changes since Tuesday
Stocks: Futures on SP500, DJI overtook round levels and stood close to peak
Commodities: Brent trading around $63. Gold slides for the third day in a row to $1413, retreating from the peaks
Crypto: Bitcoin fell to $11000, losing $1000 on low trading volumes
Infographic description
Important upcoming events (GMT):
12:30 🇺🇸 [!!!] Employment change
12:30 🇨🇦 [!!!] Employment change
Detailed economic calendar
Stocks: Futures on SP500, DJI overtook round levels and stood close to peak
Commodities: Brent trading around $63. Gold slides for the third day in a row to $1413, retreating from the peaks
Crypto: Bitcoin fell to $11000, losing $1000 on low trading volumes
Infographic description
Important upcoming events (GMT):
12:30 🇺🇸 [!!!] Employment change
12:30 🇨🇦 [!!!] Employment change
Detailed economic calendar
Nonfarm Payrolls are able to return the dollar to growth
Analysts, on average, predict an increase in employment data (Nonfarm Payrolls) of around 160K. On Wednesday, the ADP report led to market to expect weaker data.
However, interest rate futures now show a 30% chance of a 50 bp rate cut from Fed as early as July. This looks like a very ambitious expectation of the bulls: it is unlikely that the Fed will cut rates so sharply, despite the economy continuing to grow and create new jobs (though not as fast as before).
So it is highly likely that the markets will adjust expectations for the rate that will affect stock markets as well as the dollar.
https://fxpro.news/daily-forex-outlook/nonfarm-payrolls-are-able-to-return-the-dollar-to-growth-20190705/
Analysts, on average, predict an increase in employment data (Nonfarm Payrolls) of around 160K. On Wednesday, the ADP report led to market to expect weaker data.
However, interest rate futures now show a 30% chance of a 50 bp rate cut from Fed as early as July. This looks like a very ambitious expectation of the bulls: it is unlikely that the Fed will cut rates so sharply, despite the economy continuing to grow and create new jobs (though not as fast as before).
So it is highly likely that the markets will adjust expectations for the rate that will affect stock markets as well as the dollar.
https://fxpro.news/daily-forex-outlook/nonfarm-payrolls-are-able-to-return-the-dollar-to-growth-20190705/
Bitcoin the first and the only? Facebook’s project will show
While all attention is focused on Bitcoin, it is obvious that the altcoins market does not repeat the dynamics of the past BTC’s rally. Bitcoin dominance index reached 62% and continues to grow. The only Libra from Facebook caused a real resonance among politicians and officials of all levels as it looks like a real alternative for Bitcoin as major crypto and US Dollar as major currency.
https://fxpro.news/analysis-and-insight/bitcoin-the-first-and-the-only-facebooks-project-will-show-20190705/
While all attention is focused on Bitcoin, it is obvious that the altcoins market does not repeat the dynamics of the past BTC’s rally. Bitcoin dominance index reached 62% and continues to grow. The only Libra from Facebook caused a real resonance among politicians and officials of all levels as it looks like a real alternative for Bitcoin as major crypto and US Dollar as major currency.
https://fxpro.news/analysis-and-insight/bitcoin-the-first-and-the-only-facebooks-project-will-show-20190705/
Nonfarm Payrolls came out to be unexpectedly strong. In June, there were created 224K new jobs, against the expected 160K, eliminating fears of a sharp economy cooling. Strong data have triggered the immediate dollar purchases, strengthening it at 0.3% in less than 15 minutes, as market participants began to overestimate the chances of aggressive Fed policy easing this year.
Earlier today, the FxPro analysts warned that market expectations were too dark, and the published data could trigger a wave of the USD purchases.
The US stock indices came under pressure due to a reduction in hopes for the Fed stimulus. Stock markets have responded to data in “the worse, the better” trading style. Therefore, strong performance can trigger a long wave of stock indices correction, including SPX and DJI which recently touched the important round levels at their historic highs.
Earlier today, the FxPro analysts warned that market expectations were too dark, and the published data could trigger a wave of the USD purchases.
The US stock indices came under pressure due to a reduction in hopes for the Fed stimulus. Stock markets have responded to data in “the worse, the better” trading style. Therefore, strong performance can trigger a long wave of stock indices correction, including SPX and DJI which recently touched the important round levels at their historic highs.
#WaveAnalysis: #AUDUSD is expected to fall further and retest the next support level 0.6950
https://fxpro.news/market-snapshots/audusd-wave-analysis-5-july-2019-20190705/
https://fxpro.news/market-snapshots/audusd-wave-analysis-5-july-2019-20190705/
#WaveAnalysis: #Platinum is expected to fall further and retest the next round support level 800.00
https://fxpro.news/market-snapshots/platinum-wave-analysis-5-july-2019-20190705/
https://fxpro.news/market-snapshots/platinum-wave-analysis-5-july-2019-20190705/
FX: USD gained more than 0.5% after a strong NFP. Purchases are supported by a decrease in the chances of an aggressive Fed rate cut. TRY loses 2.5% this morning after an unexpected change of Central Bank Governor.
Stocks: SPX rolling back from highs, following reassessments of expectations on monetary policy.
Commodities: Brent is back above $64, balancing the growth of the dollar and strong data on the labour market. Gold returned above $1400 after a 2% dip after NFP.
Crypto: BTC adds 2% over the last 24h, trading close to $11500.
Infographic description
Important upcoming events:
🇪🇺 [!!] Eurogroup Meeting
Detailed economic calendar
Stocks: SPX rolling back from highs, following reassessments of expectations on monetary policy.
Commodities: Brent is back above $64, balancing the growth of the dollar and strong data on the labour market. Gold returned above $1400 after a 2% dip after NFP.
Crypto: BTC adds 2% over the last 24h, trading close to $11500.
Infographic description
Important upcoming events:
🇪🇺 [!!] Eurogroup Meeting
Detailed economic calendar
Bit-comment: Promising side way dynamic for the BTC
The weekend did not become for Bitcoin the starting point for large-scale dynamics in either direction. It should be noted that such a dynamic can be considered as excellent news for Bitcoin.
https://fxpro.news/analysis-and-insight/bit-comment-promising-side-way-dynamic-for-the-btc-20190708/
The weekend did not become for Bitcoin the starting point for large-scale dynamics in either direction. It should be noted that such a dynamic can be considered as excellent news for Bitcoin.
https://fxpro.news/analysis-and-insight/bit-comment-promising-side-way-dynamic-for-the-btc-20190708/
Erdogan’s currency war. Markets recede from the recent highs
A strong Nonfarm Payrolls caused pressure on the stock markets, reducing the chances of the interest rates lowering by the Fed in the upcoming months.
S&P500 futures retreated 0.8% down from the peak levels
EURUSD returned under MA(50)
The British pound fell below 1.2500 on a wave of Friday’s dollar purchases
Turkish lira was hit after Central Bank's governor resign
https://fxpro.news/daily-forex-outlook/erdogans-currency-war-markets-recede-from-the-recent-highs-20190708/
A strong Nonfarm Payrolls caused pressure on the stock markets, reducing the chances of the interest rates lowering by the Fed in the upcoming months.
S&P500 futures retreated 0.8% down from the peak levels
EURUSD returned under MA(50)
The British pound fell below 1.2500 on a wave of Friday’s dollar purchases
Turkish lira was hit after Central Bank's governor resign
https://fxpro.news/daily-forex-outlook/erdogans-currency-war-markets-recede-from-the-recent-highs-20190708/
The Deutsche Bank staff sent home as 18,000 job cuts begin
The FxPro Analyst Team commented to the Guardian:
Deutsche Bank’s restructuring plan is the latest twist in its “desperate struggle for survival”, say the analyst team at foreign exchange platform FxPro.
But although its shares have recovered from a record low below €6 last month to around €7.40 this morning, the future looks challenging.
By tempering ambitions and reducing staff – including the exit from the U.S. market – Deutsche Bank abandons the ambitions of further development.
Looking ahead, it calls into question its ability to gain a foothold above the level of €20 per share, not to mention the historical highs near €95.”
The FxPro Analyst Team commented to the Guardian:
Deutsche Bank’s restructuring plan is the latest twist in its “desperate struggle for survival”, say the analyst team at foreign exchange platform FxPro.
But although its shares have recovered from a record low below €6 last month to around €7.40 this morning, the future looks challenging.
By tempering ambitions and reducing staff – including the exit from the U.S. market – Deutsche Bank abandons the ambitions of further development.
Looking ahead, it calls into question its ability to gain a foothold above the level of €20 per share, not to mention the historical highs near €95.”
the Guardian
Deutsche Bank staff sent home as 18,000 job cuts begin - as it happened
Deutsche Bank staff across the globe have learned how the bank’s massive restructuring plan will affect them
#WaveAnalysis: #Corn is expected to rise further and retest the next resistance level 463.00
https://fxpro.news/market-snapshots/corn-wave-analysis-8-july-2019-20190708/
https://fxpro.news/market-snapshots/corn-wave-analysis-8-july-2019-20190708/
#WaveAnalysis: #EURUSD is expected to fall further and retest the next support level 1.1175
https://fxpro.news/market-snapshots/eurusd-wave-analysis-8-july-2019-20190708/
https://fxpro.news/market-snapshots/eurusd-wave-analysis-8-july-2019-20190708/
FX: USD craved upward, but the pace of growth slowed down recently. Market volatility has generally decreased in anticipation of new signals from the Fed.
Stocks: Indices are losing ground on the reassessment of the Fed policy expectations and rolling back from recent peaks.
Commodities: Brent retreated after failed attempt to climb above 65 on Monday, dropping to $63.70 at the time of writing. Gold adjusted 5th trading session in a row trading at $1393.
Crypto: a New growth spurt brought Bitcoin back to the 18-month highs at $12700.
Infographic description
Important upcoming events (GMT):
12:45 US [!!!] The speech of the Fed's Powell
14:10-18:00 US [!!] Speeches by FOMC members Bullard, Quarles, Bostic.
Detailed economic calendar
Stocks: Indices are losing ground on the reassessment of the Fed policy expectations and rolling back from recent peaks.
Commodities: Brent retreated after failed attempt to climb above 65 on Monday, dropping to $63.70 at the time of writing. Gold adjusted 5th trading session in a row trading at $1393.
Crypto: a New growth spurt brought Bitcoin back to the 18-month highs at $12700.
Infographic description
Important upcoming events (GMT):
12:45 US [!!!] The speech of the Fed's Powell
14:10-18:00 US [!!] Speeches by FOMC members Bullard, Quarles, Bostic.
Detailed economic calendar
Bit-comment: Bitcoin spiked to 18-month highs
#Bitcoin spiked by more than $1,200, or 11% above $12,500 overnight. Along with the price, trading volumes also grew, which fundamentally supported a positive trend
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-spiked-to-18-month-highs-20190709/
#Bitcoin spiked by more than $1,200, or 11% above $12,500 overnight. Along with the price, trading volumes also grew, which fundamentally supported a positive trend
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-spiked-to-18-month-highs-20190709/
Fed speeches are in focus, while Apple has pulled the markets down
Futures on the S&P500 (#SPX) fell for the second day in a row, retreating by 1.3% from historic highs around 3000
#EURUSD slowly shifting downwards
#Apple has dragged the markets down atfer downgrade to 'sell'
https://fxpro.news/daily-forex-outlook/fed-speeches-are-in-focus-while-apple-has-pulled-the-markets-down-20190709/
Futures on the S&P500 (#SPX) fell for the second day in a row, retreating by 1.3% from historic highs around 3000
#EURUSD slowly shifting downwards
#Apple has dragged the markets down atfer downgrade to 'sell'
https://fxpro.news/daily-forex-outlook/fed-speeches-are-in-focus-while-apple-has-pulled-the-markets-down-20190709/
Bitcoin (BTC) heading to new highs
Given the less similarity of the current dynamics with the December 2017 rally, Bitcoin investors have all the reasons to expect new price records.
Now it seems that we are dealing not with rush growth, but with consistent dynamics. The BTC price dynamic, interrupted by rest and corrections is moving towards new goals, bringing in profits to scalpers, as the daily fluctuations can still be impressive enough to open and close positions within the day.
https://fxpro.news/analysis-and-insight/bitcoin-btc-heading-to-new-highs-20190709/
Given the less similarity of the current dynamics with the December 2017 rally, Bitcoin investors have all the reasons to expect new price records.
Now it seems that we are dealing not with rush growth, but with consistent dynamics. The BTC price dynamic, interrupted by rest and corrections is moving towards new goals, bringing in profits to scalpers, as the daily fluctuations can still be impressive enough to open and close positions within the day.
https://fxpro.news/analysis-and-insight/bitcoin-btc-heading-to-new-highs-20190709/
#WaveAnalysis: #USDCAD is expected to rise further and retest the next resistance level 1.3200
https://fxpro.news/market-snapshots/usdcad-wave-analysis-9-july-2019-20190709/
https://fxpro.news/market-snapshots/usdcad-wave-analysis-9-july-2019-20190709/
#WaveAnalysis: #Palladium is expected to fall further and retest the next support level 1509.00
https://fxpro.news/market-snapshots/palladium-wave-analysis-9-july-2019-20190709/
https://fxpro.news/market-snapshots/palladium-wave-analysis-9-july-2019-20190709/
FX: USD recaptures its positions in anticipation of Powell's speech. GBP remains below 1.25, falling to 2-year lows yesterday.
Stocks: The pressure on the stock indices went back during the Asia trading session. SPX returned to Tuesday's opening levels, HengSeng at 2-week lows.
Commodities: Brent has grown to $64.70 after reports on the decline in the U.S. inventories. Gold at $1390, returning to a corrective decline.
Crypto: Bitcoin has gone up to $13000, but altcoins have ignored the latest wave of growth.
Infographic description
Important upcoming events (GMT):
08:30 UK [!!!] Monthly GDP
14:00 CA [!!!] Bank of Canada rate decision
14:00 US [!!!] Powell's report to Congress
18:00 US [!!!] FOMC meeting minutes
Detailed economic calendar
Stocks: The pressure on the stock indices went back during the Asia trading session. SPX returned to Tuesday's opening levels, HengSeng at 2-week lows.
Commodities: Brent has grown to $64.70 after reports on the decline in the U.S. inventories. Gold at $1390, returning to a corrective decline.
Crypto: Bitcoin has gone up to $13000, but altcoins have ignored the latest wave of growth.
Infographic description
Important upcoming events (GMT):
08:30 UK [!!!] Monthly GDP
14:00 CA [!!!] Bank of Canada rate decision
14:00 US [!!!] Powell's report to Congress
18:00 US [!!!] FOMC meeting minutes
Detailed economic calendar
Bit-comment: Bitcoin bears try to increase their positions
On Wednesday morning, Bitcoin is close to $13,000, adding about 2% over the last 24 hours. The rally at the end of June knocked out the “shorters”, and this indicator only at the beginning of the long recovery path, leaving room for BTC growth.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-bears-try-to-increase-their-positions-20190710/
On Wednesday morning, Bitcoin is close to $13,000, adding about 2% over the last 24 hours. The rally at the end of June knocked out the “shorters”, and this indicator only at the beginning of the long recovery path, leaving room for BTC growth.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-bears-try-to-increase-their-positions-20190710/