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/
Important Upcoming Events (GMT):
12:30 USD 🇺🇸 [!!!] U.S. Employment Report
18:00 USD 🇺🇸 [!!!] Federal Reserve Chairman Jerome Powell Speaks
18:10 – 20:00 USD 🇺🇸 [!!] FOMC Members Brainard, George, Quarles Speak
Detailed economic calendar
12:30 USD 🇺🇸 [!!!] U.S. Employment Report
18:00 USD 🇺🇸 [!!!] Federal Reserve Chairman Jerome Powell Speaks
18:10 – 20:00 USD 🇺🇸 [!!] FOMC Members Brainard, George, Quarles Speak
Detailed economic calendar
FX: Foreign exchange markets have quieted down and move without clear dynamics on Friday, waiting for the NFP and the FOMC members speeches. Asian NZD, AUD, JPY are the leaders in growth to USD, while CHF, TRY and ZAR are sagging.
Stocks: S&P500 futures are almost unchanged in the morning at 2910 after rising 1% on Thursday. MSCI World added 0.1% since the beginning of the day; Hang Seng partially recovered after a 2.2% dip at the start of the day. The VIX volatility index fell from 20 to 19.6.
Commodities: Brent near $58, turning up after decline to $ 56. Gold rose another 0.7% to $1508.
Crypto: Bitcoin slid a bit to $8100. Top 10 altcoins vary from -2% to + 1% in the last 24 hours.
Stocks: S&P500 futures are almost unchanged in the morning at 2910 after rising 1% on Thursday. MSCI World added 0.1% since the beginning of the day; Hang Seng partially recovered after a 2.2% dip at the start of the day. The VIX volatility index fell from 20 to 19.6.
Commodities: Brent near $58, turning up after decline to $ 56. Gold rose another 0.7% to $1508.
Crypto: Bitcoin slid a bit to $8100. Top 10 altcoins vary from -2% to + 1% in the last 24 hours.
NFP and the Fed can determine the markets’ fate today
Monthly U.S. NFP report has probably the greatest impact on the markets, as it can directly affect the policy of the Fed. But today, the Fed’s assessment of these data could be even more important to markets.
https://fxpro.news/daily-forex-outlook/nfp-and-the-fed-can-determine-the-markets-fate-today-20191004/
Monthly U.S. NFP report has probably the greatest impact on the markets, as it can directly affect the policy of the Fed. But today, the Fed’s assessment of these data could be even more important to markets.
https://fxpro.news/daily-forex-outlook/nfp-and-the-fed-can-determine-the-markets-fate-today-20191004/
Bitcoin gravitates to south
The benchmark cryptocurrency loses 2% and changes hands around $8,200. The last thing the market needs now is another sideways trend, so this time the events can develop faster and the price impulses can be sharper.
https://fxpro.news/analysis-and-insight/bitcoin-gravitates-to-south-20191004/
The benchmark cryptocurrency loses 2% and changes hands around $8,200. The last thing the market needs now is another sideways trend, so this time the events can develop faster and the price impulses can be sharper.
https://fxpro.news/analysis-and-insight/bitcoin-gravitates-to-south-20191004/
The number of jobs in the United States increased by 136K in September, only slightly worse than the expected 145K. The previous data were revised upwards from 130K to 168K. Unemployment rate fell to new 50-years lows 3.5%. These are moderately positive economic data that supported the stocks and the dollar in the first minutes after the release.
At the same time, the hourly wages for the last month did not change vs expected 0.3% growth and the year-over-year growth rate slowed from 3.2% to 2.9%. This may be an argument in favour of further Fed rate cuts as potentially ease inflation pressure.
At the same time, the hourly wages for the last month did not change vs expected 0.3% growth and the year-over-year growth rate slowed from 3.2% to 2.9%. This may be an argument in favour of further Fed rate cuts as potentially ease inflation pressure.
#WaveAnalysis
#Brent Crude Oil is expected to rise further and retest the next resistance level 60.00
https://fxpro.news/market-snapshots/brent-crude-oil-wave-analysis-4-october-2019-20191004/
#Brent Crude Oil is expected to rise further and retest the next resistance level 60.00
https://fxpro.news/market-snapshots/brent-crude-oil-wave-analysis-4-october-2019-20191004/
#WaveAnalysis
#NZDUSD is expected to rise further and retest the next resistance level 0.6400
https://fxpro.news/market-snapshots/nzdusd-wave-analysis-4-october-2019-20191004/
#NZDUSD is expected to rise further and retest the next resistance level 0.6400
https://fxpro.news/market-snapshots/nzdusd-wave-analysis-4-october-2019-20191004/
Important Upcoming Events (GMT):
08:30 EUR 🇪🇺 [!!] Euro area Sentix Investor Confidence
17:00 USD 🇺🇸 [!!!] Federal Reserve Chairman Powell Speaks
01:45 CNH 🇨🇳 [!!] China Markit Services PMI
04:10 GBP 🇬🇧 [!!!] BOE Governor Mark Carney Speaks
Detailed economic calendar
08:30 EUR 🇪🇺 [!!] Euro area Sentix Investor Confidence
17:00 USD 🇺🇸 [!!!] Federal Reserve Chairman Powell Speaks
01:45 CNH 🇨🇳 [!!] China Markit Services PMI
04:10 GBP 🇬🇧 [!!!] BOE Governor Mark Carney Speaks
Detailed economic calendar
FX: The dollar is recovering after a slight decline on Friday. NZD is the only major that adds to USD this morning. TRY, PLN, NOK lose to USD.
Stocks: S&P500 futures opened lower in the morning, shedding 0.4% after rising 1.4% on Friday. MSCI World is almost unchanged since the beginning of the day; Hang Seng declined 1.2% since the start of the day. The VIX volatility index fell from 19.6 to 18.0.
Commodities: Brent is trading at $ 58.1, maintaining positive momentum since Thursday. Gold loses 0.4% to $ 1,504.
Crypto: Bitcoin develops a decline to $ 7,850. Top 10 altcoins vary from -1.5% to + 5% in the last 24 hours.
Stocks: S&P500 futures opened lower in the morning, shedding 0.4% after rising 1.4% on Friday. MSCI World is almost unchanged since the beginning of the day; Hang Seng declined 1.2% since the start of the day. The VIX volatility index fell from 19.6 to 18.0.
Commodities: Brent is trading at $ 58.1, maintaining positive momentum since Thursday. Gold loses 0.4% to $ 1,504.
Crypto: Bitcoin develops a decline to $ 7,850. Top 10 altcoins vary from -1.5% to + 5% in the last 24 hours.
US job report supported markets and slightly hurt the dollar
Markets took Friday’s NFP report as some goldilocks evidence that the US economy continues to can get more stimulus as it is far from overheating but still feels well.
Fed’s openness to lower rates may become unpleasant news for the dollar. However, it is unlikely that it will be reasonable to talk about a cardinal break in the overall trend of its growth.
https://fxpro.news/daily-forex-outlook/us-employment-data-supported-markets-and-slightly-hurt-the-dollar-20191007/
Markets took Friday’s NFP report as some goldilocks evidence that the US economy continues to can get more stimulus as it is far from overheating but still feels well.
Fed’s openness to lower rates may become unpleasant news for the dollar. However, it is unlikely that it will be reasonable to talk about a cardinal break in the overall trend of its growth.
https://fxpro.news/daily-forex-outlook/us-employment-data-supported-markets-and-slightly-hurt-the-dollar-20191007/
#Bitcoin is slowly but surely “moves south”. With the asset price decline, the trading volume has grown by almost 15% on the last day. A higher trading volumes amid price decline often considers as bad sign for near-term price dynamics.
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-still-dont-get-a-help-20191007/
https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-still-dont-get-a-help-20191007/
#WaveAnalysis
#NZDCAD is expected to fall further and retest the next support level 0.8300
https://fxpro.news/market-snapshots/nzdcad-wave-analysis-7-october-2019-20191007/
#NZDCAD is expected to fall further and retest the next support level 0.8300
https://fxpro.news/market-snapshots/nzdcad-wave-analysis-7-october-2019-20191007/
Important Upcoming Events (GMT):
08:30 GBP 🇬🇧 [!!] BoE Member Andy Haldane Speaks
12:15 CAD 🇨🇦 [!!] Canada Housing Starts
12:30 USD 🇺🇸 [!!] US Producer Price Index
18:30 USD 🇺🇸 [!!!] Fed Chairman Powell Speaks
Detailed economic calendar
08:30 GBP 🇬🇧 [!!] BoE Member Andy Haldane Speaks
12:15 CAD 🇨🇦 [!!] Canada Housing Starts
12:30 USD 🇺🇸 [!!] US Producer Price Index
18:30 USD 🇺🇸 [!!!] Fed Chairman Powell Speaks
Detailed economic calendar
FX: The dollar mainly maintains its position at 98.61 on DXY, after rising 0.2% on Monday. NZD and ZAR are the leaders in growth to USD, adding 0.4-0.5% overnight. JPY and GBP slightly lose to USD.
Stocks: S&P500 Futures remain near Monday's close, losing 0.4% week to date. MSCI World turned downward since the start of the European session. The VIX volatility index fell from 18 to 17.9.
Commodities: Brent is trading at $ 58.3, maintaining moderately positive dynamics since Thursday. Gold loses another 0.6% over last 24h to $ 1,493.
Crypto: Bitcoin received support on a downturn at $ 7,800 and is trading at $ 8,200 at the time of writing. Top 10 altcoins add from 3% to + 6% in the last 24 hours.
Stocks: S&P500 Futures remain near Monday's close, losing 0.4% week to date. MSCI World turned downward since the start of the European session. The VIX volatility index fell from 18 to 17.9.
Commodities: Brent is trading at $ 58.3, maintaining moderately positive dynamics since Thursday. Gold loses another 0.6% over last 24h to $ 1,493.
Crypto: Bitcoin received support on a downturn at $ 7,800 and is trading at $ 8,200 at the time of writing. Top 10 altcoins add from 3% to + 6% in the last 24 hours.
Euro stopped at 1.10 waiting for trade talks results
The upcoming events this week are a cause for concern for the markets. The first meeting of Chinese and U.S. representatives at ministerial level in months set to take place on October 10-11.
The alarming lull prevails in the currency markets. EURUSD encountered strong resistance when trying to grow above 1.10. This currency pair correlates quite strongly with the overall demand for risky assets. The pressure on EURUSD increased against the background of trading disputes in 2018.
https://fxpro.news/daily-forex-outlook/euro-stopped-at-1-10-waiting-for-trade-talks-results-20191008/
The upcoming events this week are a cause for concern for the markets. The first meeting of Chinese and U.S. representatives at ministerial level in months set to take place on October 10-11.
The alarming lull prevails in the currency markets. EURUSD encountered strong resistance when trying to grow above 1.10. This currency pair correlates quite strongly with the overall demand for risky assets. The pressure on EURUSD increased against the background of trading disputes in 2018.
https://fxpro.news/daily-forex-outlook/euro-stopped-at-1-10-waiting-for-trade-talks-results-20191008/