#WaveAnalysis
#Palladium is expected to rise further and retest the next resistance level 1600

https://fxpro.news/market-snapshots/palladium-wave-analysis-11-september-2019-20190911/

FX: The dollar index added 0.3% to 98.60, despite Trump's comments to lower the rate. EURUSD returned to 1.1000 after falling from 1.1050 to 1.0980 yesterday. AUD and NZD are the leaders in growth, developing a rebound, while JPY remains under pressure, reflecting an increase in demand for risky assets. Foreign exchange market volatility is declining.

Stocks: S&P 500 futures are up 0.2% since the start of the day after the 0.7% growth on Wednesday. Japanese Nikkei225 rallies 9th day in a row, added 6.6% this month. The VIX volatility index fell from 15.3 to 14.6.

Commodities: Brent fell to $ 60.4, developing a pullback from monthly highs above $ 63.2. Gold has returned to an area above $ 1,500.

Crypto: Bitcoin is trading near $ 10K. Top 10 altcoins vary from -7% to 2% in the last 24 hours.

Important Upcoming Events (GMT):
11:45 EUR 🇪🇺 [!!!] ECB Interest Rate Decision
12:30 EUR 🇪🇺 [!!!] ECB Press Conference
12:30 USD 🇺🇸 [!!!] U.S. Consumer Price Index

Detailed economic calendar

The dollar ignored Trump’s call for zero-rates

The U.S. President has called on the Fed to reduce the key rate to zero or even lower so that the government could refinance its debt. In his latest attack on the Fed, Trump used his favourite method – raising the requirements above all rational levels to retreat and still win.

However, the Fed may well ignore this call, which does not correspond with the dual mandate of the central bank.

Dollar markets mainly ignore it, focused on the ECB decision.

https://fxpro.news/daily-forex-outlook/the-dollar-ignored-trumps-call-for-zero-rates-20190912/

#BitComment
Buyers stopped the decline in bitcoin at the threshold of $10K. On Thursday morning BTC trades around $10,100. The minimum level during the day was at $10,013, the maximum at $10,212. The dominance index reached 70% again.

https://fxpro.news/analysis-and-insight/bit-comment-buyers-stopped-the-decline-in-bitcoin-20190912/

#WaveAnalysis
#USDCHF is expected to fall further and retest the next support level 0.9875

https://fxpro.news/market-snapshots/usdchf-reversed-from-resistance-zone-20190912/

#WaveAnalysis
#Platinum is expected to rise further and retest the next major resistance level 1000.00

https://fxpro.news/market-snapshots/platinum-wave-analysis-12-september-2019-20190912/

The ECB announced a reduction in the deposit rate from -0.4% to -0.5% (as expected), and will restart the asset purchase programme (AAP) at a monthly pace of 20 billion euros.

An important nuance: the ECB left open the end date of the AAP.

EURUSD initially jumped 50 pips to 1.1070, after which it turned down for several minutes, dropping to 1.0980.

FX: The dollar index lost 0.5% to 98.10, mainly due to a weakening against the EUR. EURUSD jumped to 1.1100 after a short-term decline to 1.0930 yesterday. European GBP, CHF, EUR are the leaders in growth. TRY is corrected after the jump the day before, commodity CAD, NOK are losing ground. The volatility of the foreign exchange market jumped sharply yesterday after the decision of the ECB.

Stocks: S&P500 Futures are up 0.3% since the start of the day after rising 0.2% on Thursday, Japan's Nikkei225 rallies 10th day in a row, peaking since May. The VIX volatility index fell from 14.6 to 14.2.

Commodities: Brent is trading below $ 60, having managed to recover some losses after the drop to 58.40. Gold is at $ 1,500, despite a rebound from 1524 on Thursday.

Crypto: Bitcoin is trading near $ 10,300. The top 10 altcoins price changed from -3% to 2% in the last 24 hours.

Important Upcoming Events (GMT):

09:00 EUR 🇪🇺 [!!] Euro area Trade Balance
12:30 USD 🇺🇸 [!!!] U.S. Retail Sales
14:00 USD 🇺🇸 [!!] U.S. UoM Consumer Sentiment

Detailed economic calendar

Largest central banks returned the demand for yield to markets

The big central banks’ troika is once again intensifying monetary easing, pushing the markets towards growth, despite deteriorating macroeconomic statistics. The single currency was under increased pressure for a short time yesterday, declining to 1.0926 at one point, before recovering and trading near 1.1100 on Friday morning.

Such sharp fluctuations of EURUSD are explained by the unexpected launch of QE from the ECB to the amount of 20 billion euro per month without the final date.

Initially, it was perceived as a more determined mood for policy easing, pulling down the single currency. However, the open date will allow the ECB to end purchases in a short period. Besides, the size of the program can be considered relatively small compared to 60 billion per month, which was before 2018.

https://fxpro.news/market-snapshots/largest-central-banks-returned-the-demand-for-yield-to-markets-20190913/

Crypto market: unity or death

Crypto market remains in a sideways trend: Bitcoin traded around $10K on Friday morning, altcoins are still near the lows, BTC dominance index grew above 70%.

The altcoins historical lows make us think about the prospects of survival of the alternative cryptocurrencies separately.

https://fxpro.news/market-snapshots/crypto-market-unity-or-death-20190913/

#WaveAnalysis
#GBPNZD is expected to rise further and retest the next resistance level 1.9700

https://fxpro.news/market-snapshots/gbpnzd-wave-analysis-13-september-2019-20190913/

#WaveAnalysis
#Cotton is expected to rise further and retest the next resistance level 64.23

https://fxpro.news/market-snapshots/cotton-wave-analysis-13-september-2019-20190913/

FX: The dollar index lost 0.2% to 98.0 at the start of the week's trading, but has already returned positions. EURUSD is trading near Friday's close at 1.1065. Crude oil-related CAD, NOK, RUB lost more than half of the initial increase at the opening of trading. The pound (GBP) is fell after the jump on Friday, as no-deal Brexit chances increased again. The volatility of the foreign exchange market is within average monthly levels.

Stocks: S&P500 futures lost 0.5% after the jump in oil and weak manufacturing data from China. Asian indices are down. The VIX volatility index has grown from 14.2 to 15.0.

Commodities: Brent is trading near $ 65 (+ 9.3%), gave back about half of the 20% jump after an attack on a field in Saudi Arabia. Gold is now at $1502 after falling to $1488 on Friday.

Crypto: Bitcoin stays near $ 10,300. Top 10 altcoins vary from -1% to + 3% in the last 24 hours.

Brent opened the week with a price spike of more than 20% on reports of an attack on a significant oilfield in Saudi Arabia.

It is unlikely that such growth will be sustainable as U.S. and Saudi Arabia itself have enough reserves.
It may seem strange, but Saudi Arabia may benefit from this incident.

https://fxpro.news/market-snapshots/the-attack-in-saudi-arabia-suitable-for-oil-bad-for-global-growth-20190916/

#BitComment: Bitcoin’s price range tightens

During the last day and throughout the weekend Bitcoin was in a limited price range, trading around $10,400. The trading volume has declined by about 20% since Friday.

https://fxpro.news/market-snapshots/bit-comment-bitcoins-price-range-tightens-20190916/

#WaveAnalysis
#Silver is likely to extend the gains and retest the next resistance level 18.40

https://fxpro.news/market-snapshots/silver-wave-analysis-16-september-2019-20190916/

#WaveAnalysis
#EURUSD is expected to fall further and retest the next round support level 1.1000.

https://fxpro.news/market-snapshots/eurusd-wave-analysis-16-september-2019-20190916/

FX: On Monday the dollar index added 0.5% to 98.20. EURUSD dropped to 1.1000. EUR, CHF slightly increase this morning while most major currencies are losing ground to USD. The volatility of the foreign exchange market is within average monthly levels.

Stocks: S&P500 Futures returned to the opening levels of the week, gave up gains on Monday. This morning Chinese indices are losing more than 1% due to weak data and rising oil prices. The VIX volatility index has grown from the beginning of the day from 13.8 to 14.7.

Commodities: Brent is trading near $67 (+ 13% this week), supported by fierce criticism of Iran from the United States and Saudi Arabia. Gold is now $1495 times over and over unsuccessfully trying to break above $1500.

Crypto: Bitcoin is trading at $10,200. Top 10 altcoins vary from -2% to + 2% over the last 24 hours.

Important Upcoming Events (GMT):
09:00 EUR 🇩🇪 [!!] German ZEW Economic Sentiment
13:15 USD 🇺🇸 [!!] U.S. Industrial Production

Detailed economic calendar