Important Upcoming Events (GMT):
07:55 🇩🇪 [!!] German Unemployment Change
08:30 🇬🇧 [!!] U.K. Current Account
12:00 🇩🇪 [!!] German CPI
04:30 🇦🇺 [!!!] RBA Interest Rate Decision
Detailed economic calendar
07:55 🇩🇪 [!!] German Unemployment Change
08:30 🇬🇧 [!!] U.K. Current Account
12:00 🇩🇪 [!!] German CPI
04:30 🇦🇺 [!!!] RBA Interest Rate Decision
Detailed economic calendar
FX: The dollar index remains near two-year highs at 98.75 at the beginning of the week. EURUSD recoupled to 1.0940 after touching levels below 1.0900 on Friday morning. GBPUSD fell below 1.2300 on Johnson's note not to resign, even in the event of a Brexit date shift.
Stocks: S&P500 futures continue to decline, dropping to 2970 at the start of trading. MSCI world loses 0.1% in the morning; major Asian indices are down within 0.2%. The VIX volatility index rose from 15.9 to 17.2.
Commodities: Brent is trading at $ 60.7, developing its decline. Gold sank to the September's low near $1,490.
Crypto: Bitcoin loses 4% per day, trading at $ 7,750. Top 10 altcoins are down from 0.8% to 5.0% over the past 24 hours.
Stocks: S&P500 futures continue to decline, dropping to 2970 at the start of trading. MSCI world loses 0.1% in the morning; major Asian indices are down within 0.2%. The VIX volatility index rose from 15.9 to 17.2.
Commodities: Brent is trading at $ 60.7, developing its decline. Gold sank to the September's low near $1,490.
Crypto: Bitcoin loses 4% per day, trading at $ 7,750. Top 10 altcoins are down from 0.8% to 5.0% over the past 24 hours.
Returned to its downward channel, Brent possibly heading to $50 by 2020
Brent has returned to a downward trend, that prevailed during the last five months. And the spike in the middle of September turned out to be impressive but not a long episode in the overall downward trend.
These are all signs of problems for oil in the coming months. It is worth recalling that the most aggressive drop in black gold prices in the last five years was launched in the final quarter of the year. This was in 2014, 2015, as well as in 2018.
It is also worth paying attention to the trend of ever-lower peaks. In 2008, oil started to turn from $140. In 2012 it was dumped from levels above $120. In 2014 it unsustained above $100. In 2018, these were levels at $80 per barrel of Brent.
Several technical factors increase negative expectations.
https://fxpro.news/daily-forex-outlook/returned-to-its-downward-channel-brent-possibly-heading-to-50-by-2020-20190930/
Brent has returned to a downward trend, that prevailed during the last five months. And the spike in the middle of September turned out to be impressive but not a long episode in the overall downward trend.
These are all signs of problems for oil in the coming months. It is worth recalling that the most aggressive drop in black gold prices in the last five years was launched in the final quarter of the year. This was in 2014, 2015, as well as in 2018.
It is also worth paying attention to the trend of ever-lower peaks. In 2008, oil started to turn from $140. In 2012 it was dumped from levels above $120. In 2014 it unsustained above $100. In 2018, these were levels at $80 per barrel of Brent.
Several technical factors increase negative expectations.
https://fxpro.news/daily-forex-outlook/returned-to-its-downward-channel-brent-possibly-heading-to-50-by-2020-20190930/
#BitComment
Last week Crypto market capitalization declined by $54 bln., and it seems that it is not the bottom. Shy attempts to rebound, which allowed us to talk about reaching the bottom, have not yet been successful.
https://fxpro.news/analysis-and-insight/bit-comment-cryptocap-sank-by-54-bln-but-still-no-bottom-in-sight-20190930/
Last week Crypto market capitalization declined by $54 bln., and it seems that it is not the bottom. Shy attempts to rebound, which allowed us to talk about reaching the bottom, have not yet been successful.
https://fxpro.news/analysis-and-insight/bit-comment-cryptocap-sank-by-54-bln-but-still-no-bottom-in-sight-20190930/
#WaveAnalysis
#EURUSD is expected to fall further and retest the next support level 1.0850
https://fxpro.news/market-snapshots/eurusd-wave-analysis-30-september-2019-20190930/
#EURUSD is expected to fall further and retest the next support level 1.0850
https://fxpro.news/market-snapshots/eurusd-wave-analysis-30-september-2019-20190930/
Important Upcoming Events (GMT):
08:00 EUR 🇪🇺 [!!] Euro area Manufacturing PMI
09:00 EUR 🇪🇺 [!!] Euro area CPI
12:30 CAD 🇨🇦 [!!!] Canada GDP
14:00 USD 🇺🇸 [!!!] ISM Manufacturing PMI
Detailed economic calendar
08:00 EUR 🇪🇺 [!!] Euro area Manufacturing PMI
09:00 EUR 🇪🇺 [!!] Euro area CPI
12:30 CAD 🇨🇦 [!!!] Canada GDP
14:00 USD 🇺🇸 [!!!] ISM Manufacturing PMI
Detailed economic calendar
FX: The dollar index climbed another 0.4% to 99.2. EURUSD lost 0.5% to 1.0880 before European open. GBPUSD virtually not changed overnight, remaining at 1.2270 in anticipation of the presentation of the Brexit plan before UK Parliament.
Stocks: S&P500 futures turned to rise on Monday to 2990. MSCI World has returned to levels since the beginning of the day after rising 0.1%; major Asian indices are adding within 0.2%. The VIX volatility index fell from 17.2 to 16.1.
Commodities: Brent fell to $59.20 and remains below $ 60.0, having completely recovered the jump on explosions in the SA. Gold develops a sharp weakening, dropped by another 1.8% to $ 1460.
Crypto: Bitcoin is growing at 7% per day, trading at $ 8400. Top-10 altcoins add from 5% to 8% in the last 24 hours.
Stocks: S&P500 futures turned to rise on Monday to 2990. MSCI World has returned to levels since the beginning of the day after rising 0.1%; major Asian indices are adding within 0.2%. The VIX volatility index fell from 17.2 to 16.1.
Commodities: Brent fell to $59.20 and remains below $ 60.0, having completely recovered the jump on explosions in the SA. Gold develops a sharp weakening, dropped by another 1.8% to $ 1460.
Crypto: Bitcoin is growing at 7% per day, trading at $ 8400. Top-10 altcoins add from 5% to 8% in the last 24 hours.
Markets and Euro moves after the macroeconomy
EURUSD slipped to 1.0880 on the background of the growing gap between the data from the U.S. and Europe in favour of the former.
The dollar index exceeded 99.10, also rising to the highs of two and a half years, while the major U.S. indices added about 0.5% over the past day.
However, the U.S. still has enough reasons to worry as Manufacruting ISM – an important indicator of business activity - is set to be published later today.
https://fxpro.news/daily-forex-outlook/markets-and-euro-moves-after-the-macroeconomy-20191001/
EURUSD slipped to 1.0880 on the background of the growing gap between the data from the U.S. and Europe in favour of the former.
The dollar index exceeded 99.10, also rising to the highs of two and a half years, while the major U.S. indices added about 0.5% over the past day.
However, the U.S. still has enough reasons to worry as Manufacruting ISM – an important indicator of business activity - is set to be published later today.
https://fxpro.news/daily-forex-outlook/markets-and-euro-moves-after-the-macroeconomy-20191001/
Crypto market clings to straw
After the devastating decline of Bitcoin and most of the altcoins last week, the crypto market observers pinned their hopes on the ability of the BTC to cling to $8K. It seems to have succeeded, and by Tuesday morning the BTC is adding more than 7% to $8,500. TOP-10 altcoins are also actively growing by 7-10%. It feels like the crypto market has caught on to an almost invisible straw.
https://fxpro.news/analysis-and-insight/crypto-market-clings-to-straw-20191001/
After the devastating decline of Bitcoin and most of the altcoins last week, the crypto market observers pinned their hopes on the ability of the BTC to cling to $8K. It seems to have succeeded, and by Tuesday morning the BTC is adding more than 7% to $8,500. TOP-10 altcoins are also actively growing by 7-10%. It feels like the crypto market has caught on to an almost invisible straw.
https://fxpro.news/analysis-and-insight/crypto-market-clings-to-straw-20191001/
#WaveAnalysis
#NZDUSD is expected to fall further and retest the next support level 0.6150
https://fxpro.news/market-snapshots/nzdusd-wave-analysis-1-october-2019-20191001/
#NZDUSD is expected to fall further and retest the next support level 0.6150
https://fxpro.news/market-snapshots/nzdusd-wave-analysis-1-october-2019-20191001/
Important Upcoming Events (GMT):
06:30 CHF [!!] 🇨🇭 Swiss Consumer Price Index
08:30 GBP [!!] 🇬🇧 U.K. Construction PMI
12:15 USD [!!!] 🇺🇸 U.S. ADP Non-Farm Employment Change
14:30 WTI [!!] 🛢 U.S. Crude Oil Inventories
Detailed economic calendar
06:30 CHF [!!] 🇨🇭 Swiss Consumer Price Index
08:30 GBP [!!] 🇬🇧 U.K. Construction PMI
12:15 USD [!!!] 🇺🇸 U.S. ADP Non-Farm Employment Change
14:30 WTI [!!] 🛢 U.S. Crude Oil Inventories
Detailed economic calendar
FX: The dollar index returned to 99.0 after a 0.6% drop on weak US manufacturing data. USD in the morning adds to most currencies except JPY. EURUSD is back below 1.09. GBPUSD was down to 1.2230.
Stocks: S&P500 futures are losing 2.4% over the last 24h to 2920. MSCI World is declined 0.4%; major Asian indices lost about 1% on Wednesday. The VIX volatility index jumped from 16.1 to 19.4.
Commodities: Brent fell to $ 58.50, close to the early September lows. The downfall of the markets supported gold, which added 1.6% to $ 1,484.
Crypto: Bitcoin is losing about 2%, trading at $ 8,200. Top 10 altcoins lose 3% -6% in the last 24 hours.
Stocks: S&P500 futures are losing 2.4% over the last 24h to 2920. MSCI World is declined 0.4%; major Asian indices lost about 1% on Wednesday. The VIX volatility index jumped from 16.1 to 19.4.
Commodities: Brent fell to $ 58.50, close to the early September lows. The downfall of the markets supported gold, which added 1.6% to $ 1,484.
Crypto: Bitcoin is losing about 2%, trading at $ 8,200. Top 10 altcoins lose 3% -6% in the last 24 hours.
Shocking slump in U.S. manufacturing activity caused market sell-off
The dollar was hit on Tuesday afternoon as weak data from ISM looks as unpleasant surprise, potentially attracting even more attention to Friday’s data on the labour market in the U.S.
As a result, the dollar sharply turned to the decline from the levels near the 2.5-year highs and currently USDX is losing around 0.6%. The S&P500 fell by 1.3% on Tuesday in response to the publication.
https://fxpro.news/daily-forex-outlook/shocking-slump-in-u-s-manufacturing-activity-caused-market-sell-off-20191002/
The dollar was hit on Tuesday afternoon as weak data from ISM looks as unpleasant surprise, potentially attracting even more attention to Friday’s data on the labour market in the U.S.
As a result, the dollar sharply turned to the decline from the levels near the 2.5-year highs and currently USDX is losing around 0.6%. The S&P500 fell by 1.3% on Tuesday in response to the publication.
https://fxpro.news/daily-forex-outlook/shocking-slump-in-u-s-manufacturing-activity-caused-market-sell-off-20191002/
#BitComment
After a jump to $8,500 the day before, by Wednesday morning the price of the first cryptocurrency declines by 2.3% and trades around $8,200.
Technically, BTCUSD remains in the oversold area on the daily charts, according to RSI, although it is already getting closer to levels above 30.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-rebound-did-not-attract-massive-buyings-20191002/
After a jump to $8,500 the day before, by Wednesday morning the price of the first cryptocurrency declines by 2.3% and trades around $8,200.
Technically, BTCUSD remains in the oversold area on the daily charts, according to RSI, although it is already getting closer to levels above 30.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-rebound-did-not-attract-massive-buyings-20191002/
Important Upcoming Events (GMT):
08:00 EUR 🇪🇺 [!!] Euro area Services PMI
08:30 GBP 🇬🇧 [!!] U.K. Services PMI
12:30 USD 🇺🇸 [!!] U.S. Unemployment Claims
14:00 USD 🇺🇸 [!!!] U.S. ISM Non-Manufacturing PMI
Detailed economic calendar
08:00 EUR 🇪🇺 [!!] Euro area Services PMI
08:30 GBP 🇬🇧 [!!] U.K. Services PMI
12:30 USD 🇺🇸 [!!] U.S. Unemployment Claims
14:00 USD 🇺🇸 [!!!] U.S. ISM Non-Manufacturing PMI
Detailed economic calendar
FX: Moderate demand for yielding currencies versus safe-heavens on Thursday. ZAR, SGD, AUD are the leaders in the growth to USD, while CHF and EUR are sinking.
Stocks: S&P500 futures add 0.2% this morning to 2890, but lower by 1% over last 24h. MSCI World loses 0.2%; Hang Seng adds 1.3%. Nikkei225 is in small decline. The VIX volatility index rose to 20, reaching the 2-months highs on Wednesday.
Commodities: Brent traded near $57.50 having lost another $1 overnight. Gold went back to $1,500.
Crypto: Bitcoin has stabilized near $ 8,200. Top 10 altcoins vary from -1% to + 2% in the last 24 hours.
Stocks: S&P500 futures add 0.2% this morning to 2890, but lower by 1% over last 24h. MSCI World loses 0.2%; Hang Seng adds 1.3%. Nikkei225 is in small decline. The VIX volatility index rose to 20, reaching the 2-months highs on Wednesday.
Commodities: Brent traded near $57.50 having lost another $1 overnight. Gold went back to $1,500.
Crypto: Bitcoin has stabilized near $ 8,200. Top 10 altcoins vary from -1% to + 2% in the last 24 hours.
Weak data and tariffs escalation demands more ECB and Fed easing
The S&P 500 lost 1.8% on Tuesday, while the FTSE 100 and Euro 50 collapsed more than 3.2% last day after the US Presidential Administration announced new tariffs to some European goods.
The new statistics are increasing pressure on the Fed and ECB to continue its easing, as it indicates weakness in the areas to which these central banks pay the most attention. Eurozone inflation fell to 0.9% YoY, about half the ECB target levels.
The U.S. Federal Reserve is paying much more attention to business and the Fed is facing a series of worrying news this week.
https://fxpro.news/daily-forex-outlook/weak-data-and-tariffs-escalation-demands-more-ecb-and-fed-easing-20191003/
The S&P 500 lost 1.8% on Tuesday, while the FTSE 100 and Euro 50 collapsed more than 3.2% last day after the US Presidential Administration announced new tariffs to some European goods.
The new statistics are increasing pressure on the Fed and ECB to continue its easing, as it indicates weakness in the areas to which these central banks pay the most attention. Eurozone inflation fell to 0.9% YoY, about half the ECB target levels.
The U.S. Federal Reserve is paying much more attention to business and the Fed is facing a series of worrying news this week.
https://fxpro.news/daily-forex-outlook/weak-data-and-tariffs-escalation-demands-more-ecb-and-fed-easing-20191003/
Bit-comment: new side trend for Bitcoin is not in the cards
After a rebound above $8,500 and a subsequent minor correction, Bitcoin is traded on Thursday morning at around $8,300. Since October 1, the benchmark cryptocurrency has been trying to form a side trend.
https://fxpro.news/analysis-and-insight/bit-comment-new-side-trend-for-bitcoin-is-not-in-the-cards-20191003/
After a rebound above $8,500 and a subsequent minor correction, Bitcoin is traded on Thursday morning at around $8,300. Since October 1, the benchmark cryptocurrency has been trying to form a side trend.
https://fxpro.news/analysis-and-insight/bit-comment-new-side-trend-for-bitcoin-is-not-in-the-cards-20191003/
#WaveAnalysis
#DAX is expected to fall further and retest the next support level 11800.00
https://fxpro.news/market-snapshots/dax-wave-analysis-3-october-2019-20191003/
#DAX is expected to fall further and retest the next support level 11800.00
https://fxpro.news/market-snapshots/dax-wave-analysis-3-october-2019-20191003/
#WaveAnalysis
#NZDCHF is expected to rise further and retest the next resistance level 0.6310
https://fxpro.news/market-snapshots/nzdchf-wave-analysis-3-october-2019-20191003/
#NZDCHF is expected to rise further and retest the next resistance level 0.6310
https://fxpro.news/market-snapshots/nzdchf-wave-analysis-3-october-2019-20191003/