Daily news from NewForex

[Anna Mon]

Forex News from New Forex: US unemployment by numbers

Today global markets are in the anticipation of unemployment data from the US. The unemployment rate is calculated according to the number of people actively searching for work. In May 2016 this number dropped to 4.7%, a low since November 2007. The number of unemployed residents decreased by 484,000 to 7.4 mln.

An average unemployment level in the USA over 1948 to 2016 period is 5.82% with a high at 10.80% in November 1982 and a low at 2.50% in May 1953.

In May the unemployment rate among man was 4.3%, women 4.2%, Whites 4.1%, among Hispanics 5.6%, Asians 4.1%, African Americans 8.2%. Unemployment among teenagers stands at 16.0%. Around 1.9 mln US residents can not find work for more than half a year. The State calls this group "long-term unemployed".

If we look carefully at the difference between states, the lowest rate in May 2016 was in South Dakota with 2.5%, the highest in Alaska with 6.7%.

June forecast shows a slight rise to 4.8%, how accurate it is we will find out later today.

NewForex Analyst

Luigi Campo
Forex News from New Forex: US unemployment by numbers

Today global markets are in the anticipation of unemployment data from the US. The unemployment rate is calculated according to the number of people actively searching for work. In May 2016 this number dropped to 4.7%, a low since November 2007. The number of unemployed residents decreased by 484,000 to 7.4 mln.

An average unemployment level in the USA over 1948 to 2016 period is 5.82% with a high at 10.80% in November 1982 and a low at 2.50% in May 1953.

In May the unemployment rate among man was 4.3%, women 4.2%, Whites 4.1%, among Hispanics 5.6%, Asians 4.1%, African Americans 8.2%. Unemployment among teenagers stands at 16.0%. Around 1.9 mln US residents can not find work for more than half a year. The State calls this group "long-term unemployed".

If we look carefully at the difference between states, the lowest rate in May 2016 was in South Dakota with 2.5%, the highest in Alaska with 6.7%.

June forecast shows a slight rise to 4.8%, how accurate it is we will find out later today.

NewForex Analyst

Luigi Campo

Forex News from New Forex: Technical analysis of EUR/USD

During the trading session on Thursday the currency pair rose to 1.1106 and later bounced off to

1.1052 making a firm bearish candlestick in the day chart which shows the market intention to

decline. It is necessary to breach the strong support at 1.1050. In case of success we expect to see

the price at 1.0970. Otherwise, the market has to breach the resistance at 1.1111 which will allow

the pair to climb to 1.1180.

In the trading on Friday the pair remains within the support level at 1.1067 and resistance at

1.1095. EMA20 and EMA55 crossed downwards and keep descending. The MACD-histogram stands in the

negative zone and slowly rises. The oscillator Stochastic sends a signal to sell.

The market consolidated due to the decreased activity of its participants before the release of

macroeconomic data from the US today at 15:00 GTM.

NewForex Analyst

Luigi Campo


Forex News from New Forex: Technical analysis of GBP/USD

On Thursday the pair edged up to 1.3076 but later bounced off to 1.2878 finishing trades with a

neutral day candlestick which says about the weakness of the currency pair and market consolidation

giving chances both to bulls and bears, according to the current technical structure.

On Friday the price remains within the support at 1.2883 and resistance at 1.3000. However, it is

not so simple here. Today at 15:30 GTM the market expects the release of unemployment data and

nonfarm payrolls for June. Consequently, all market participants shudder to a halt in the

anticipation of macroeconomic statistics from the US. Thus, a further scenario totally depends on

the released data.

Exponential moving averages consolidated, decline and slowed down. The MACD-histogram remains in the

negative zone but slightly rises. The RSI also stands below its central line. The Stochastic sends a

signal to buy. We don’t exclude a further market descend hitting new record lows, even if the

greenback receives firm support today.

NewForex Analyst

Luigi Campo

 

[Anna Mon]

Forex News from New Forex: Commodity currencies slide amid low oil prices

The Australian and the New Zealand dollar lose ground against the greenback in the trading on Monday, July 11. The US dollar gained strong support after the release of upbeat employment data last Friday and due to low oil prices. At the moment the currency instrument AUD/USD shed 0.28% to 0.7546. The number of home loans decreased in Australia in May by 1.0% which is significantly better than the forecast at -2.0%. In April the number of loans increased by 1.4%. Tomorrow markets will be in the expectation of business conditions and business confidence in Australia.

The pair kiwi/dollar stands at 0.7243 (-0.82%). Tomorrow the release of Food Price Index for June is expected in New Zealand. In May it declined by 0.5%.

Commodity currencies suffer from falling oil prices. WTI edged down to 1.63% to $44.68 a barrel. Brent slid 1.52% to $46.05. The Canadian dollar slipped to 0.39% versus the buck to 1.3094.

The dollar index stands at 96.72 (+0.43%) which is a 2-week high.

NewForex Analyst

David Fineberg

Forex News from New Forex: US dollar advances after Friday data

Today, on July 11, the US dollar climbs against the main currencies after optimistic employment data in the US. In June 287 000 new working places were registered instead of expected 175 000. Average hourly earnings edged up 2.6% in comparison with the same period last year. The unemployment level slightly rose from 4.7% in May to 4.9% in June.

The pair euro/dollar shed 0.21% to 1.103. Pound/dollar dropped by 0.65% to 1.2868 which is close to a 31-year low. Market participants are in the anticipation of the Bank of England minutes on Thursday, July 14. It is assumed that the interest rate will remain unchanged at 0.5%. However, the Bank of England might introduce extra stimulus measures to support economy after Brexit.

The pair dollar/yen picked up 1.78% to 102.3. The Japanese currency loses ground after the decision of Prime-Minister Shinzo Abe to launch a new round of fiscal stimulus.

European stocks are in the positive zone after the Bank of Japan decision and upbeat data from the US. The pan-European index STOXX 600 surged 0.48%. The UK’s FTSE jumped 0.55%, the German DAX rose 1.07%, the French CAC 40 added 0.70%.

NewForex Analyst

David Fineberg

Forex News from New Forex: Technical analysis of EUR/USD

On Monday, July 11, the pair EUR/USD trades within the support at 1.1015 and resistance at 1.1055. As we see on today’s 5-minute chart the price is under pressure ahead of the Eurogroup meeting. In late afternoon on Friday the market showed high volatility after the publication of the US nonfarm payrolls. Today the MACD-indicator indicates the formation of a sideways market trend. Taking into account signals of most indicators, it’s worth considering orders to sell on Monday.

NewForex Analyst

Luigi Campo

 

[Anna Mon]

Forex News from New Forex: Aussie and kiwi look confident

The Australian and the New Zealand dollar significantly rise in the trading on Tuesday, July 12. Positive data from Australia and increasing oil prices lend support to these currencies. The pair AUD/USD stands at 0.7623 (+1.22%). The business confidence index in Australia climbed from 3 in May to 6 in June, the index of business conditions advanced from 10 to 12 last month.

The pair kiwi/dollar jumped to 0.7299 (+1.12%). Oil prices gain ground amid supply disruptions in Iraq. WTI surged 0.56% to $45.30 a barrel, Brent added 0.76% to $46.64. The dollar index slid 0.49% to 96.11.

In general, Asian markets show positive dynamics today. The Japanese index Nikkei edges up in the expectation of fiscal stimulus from the central bank of Japan. The Nikkei picked up 2.46%, the Topix and the JPX-Nikkei Index 400 advanced 2.4%.

The Chinese market gains as well. The CSI300 index, which includes stocks of the largest companies of Shanghai and Shenzhen, rose 2.2%. The Shanghai Composite jumped 1.8%.

NewForex Analyst

Michael Butnitsky

Forex News from New Forex: Gold falls after the release of US data

In the trading on Tuesday, July 12, gold prices decrease as market participants consider chances of interest rate hike in the USA after the release of positive employment data. Market tension subsides after the decision of the UK to leave the European Union.

Gold spot shed 0.16%. On Monday the decline was 0.8%, the biggest descend in the last two weeks. Gold futures with the delivery in August slid 60 cents or 0.05% to $1,356.00 a troy ounce. However, since the start of the year the yellow metal picked up almost 30% amid faint hopes for the interest rate hike in the USA.

Meanwhile, silver gains 0.42% to $19.30.

European markets behave confidently today. The pan-European index STOXX 600 added 1%. The German DAX advanced 1.71%, the French CAC 40 jumped 1.71% as well, the UK’s FTSE trades in flat. Uncertainty over the political situation in the UK gradually eases after the appointment of Theresa May as the UK Prime-Minister. This Wednesday, on July 13, she is getting officially into office.

NewForex Analyst

Michael Butnitsky

Forex News from New Forex: Technical analysis of EUR/USD

In the trading on Tuesday, July 12, the pair EUR/USD keeps it yesterday’s bearish sentiment. As we see on a 5-minute chart it trades within the support at 1.1045 and resistance at 1.1125. The indicator Stochastic shows that the pair EUR/USD stands in the zone of overbought. It allows us to suppose that the pair will decline in the short run.

At the moment market participants are in the anticipation of the Bank of England meeting over the interest rate this Thursday. And also we wait for the retail data from the USA which is due to be released on Friday and might influence on the dollar rate. These two events may affect changes within the pair this week.

NewForex Analyst

David Fineberg

 

[Anna Mon]

Forex News from New Forex: Asian markets closed with a rise shrugging off low data from China

Asian markets closed today with a firm rise in the expectation of new monetary stimulus from Japan. The MSCI Asia Pacific Index climbed 0.7%. The Japanese Topix jumped 1.1% advancing 6.3% during the last two trading sessions. The yen gained 0.06% against the buck after a 4% decline at the start of the week.

The Australian and the New Zealand dollar shed 0.01% and 0.04%, respectively. The fall is caused by the decrease of import in China by 8.4% in June and export by 4.8%. It has strong influence on these currencies as China is the leading export market for Australia and New Zealand. The yuan slid 0.04% against the US dollar. The Hang Seng climbed 0.5%, the China Enterprises Index picked up 0.06%. Market participants assume that the central bank of China will introduce new stimulus measures in the coming months.

European stocks move in mixed ways in the trading on Wednesday, July 13. Markets recover after Brexit. The pan-European index STOXX 600 edged up 0.24%. The UK’s FTSE surged 0.08%, the German index DAX slipped to 0.08%, the French CAC 40 climbed 0.21%.

NewForex Analyst

David Fineberg


Forex News from New Forex: US dollar slides against the main currencies

In the trading on Wednesday, July 13, the US dollar tumbles against the leading currencies. The instrument euro/dollar climbed 0.15% to 1.1074. Pound/dollar added 0.19% to 1.3266 after the appointment of Theresa May as the UK Prime-Minister. However, the pound remains under pressure due to the Bank of England meeting which is planned on this Thursday, July 14. The current interest rate at 0.50% might be cut down to 0.25% in order to launch the program of monetary easing to support the economy after the decision of the UK to leave the European Union.

The pair dollar/Swiss franc tumbled 0.41% to 0.9843, the US dollar edges down to 0.05% against the loonie to 1.3032. The Bank of Canada should make a decision over the interest rate today. It is expected that the rate will remain unchanged at 0.5%.

The dollar index slipped to 0.17% to 96.39.

NewForex Analyst

David Fineberg


Forex News from New Forex: Technical analysis of EUR/USD

In the trading on Wednesday the pair stands within the immediate support at 1.1058 and resisitance at 1.1132. As for short-term prospects, on a 4-hour chart we see that the MACD-histogram has just entered a positive zone but the indicator RSI has not staying below its central line. However, the oscillator Stochastic says that the pair is oversold which implies a price increase.

EMA20 and EMA55 flatten after the recent crossing downwards which says about the consolidation within the current level of support at 1.1058.

NewForex Analyst

Luigi Campo


Forex News from New Forex: Technical analysis of GBP/USD

On Wednesday the currency pair trades with a considerable price rise within the immediate support at 1.3109 and resistance at 1.3435.

During the first part of the previous trading session the pair was firmly gaining drafting off the local support level at 1.2985 and later consolidated above the strong resistance at 1.3150. Then the pair continued its rise to 1.3290 with a rally within up to 300 pips. Today during the Asian trading session the pound sterling advances against the greenback to 1.3338, after that there was seen some correction which should determine the power of opposing parties. In case of the dominance of bears the price might reverse to 1.2985. Otherwise, we might expect testing the level at 1.3435.

In a 4-hour timeframe the MACD-histogram entered a positive zone and keeps edging up. Both the RSI and the oscillator Stochastic indicate that the pair is overbought and the bullish sentiment of the market eases. However, the price remains above lines of Ichimoku Kinko Hyo, which gives bulls good chances for the further upsurge.

NewForex Analyst

Luigi Campo

 

[Anna Mon]

Forex News from New Forex: Interest rate in the UK, in the expectation of a fresh record

The base rate in the United Kingdom is an interest rate at which commercial banks take loans from the Bank of England. In theory: the lower the rate is, the cheaper loans for borrowers are. The decision over the UK interest rate is made by nine members of the Monetary Committee of the Bank of England. A meeting of the bank takes place every month. Studying the economic state of the country the decision over the rate is made.

The rate hike decreases inflation supporting savings of citizens and keeping them from loans. Thus, reducing the demand for goods in shops. The rate cutdown boosts the demand and increases prices as the pure income of people rises.

If we consider the period from 1971 to 2016, the highest interest rate was in March 1979 at 17%, the lowest rate is recorded at the moment at 0.5%. This rate has been unchanged since March 2009.

However, after the decision of the UK to leave the European Union most market participants are in the anticipation of the further decline up to 0.25%. Later today we will see if the Bank of England sets a fresh record.

NewForex Analyst

Michael Butnitsky

 

[Anna Mon]

Forex News from New Forex: Pound sterling hit a 2-week high

On July 14 the pound sterling advanced to a 2-week high against the US dollar after the decision of the Bank of England to keep the interest rate at 0.5%. The pair pound/dollar surged 1.85% to 1.3388 today. The pound picked up 1.20% against the euro to 0.8327.

At the meeting of the Bank of England eight out of nine members of the Monetary Committee voted to hold the interest rate unchanged at 0.5% instead of an expected decrease to 0.25%. However, it was claimed in the report that the Committee will return to the question of the interest rate cutdown this August. It was also mentioned that the decision of the UK to the leave the EU might weaken the economy and expose the housing market to a risk.

European indexes reacted with a rise after the report of the Bank of England. The pan-European STOXX 600 added 0.78%, the UK’s FTSE climbed 0.07%, the German DAX gained 1.26%, the French CAC 40 edged up 1.04%.

NewForex Analyst

Michael Butnitsky

Forex News from New Forex: Technical analysis of EUR/USD

In the trading on Thursday, July 14, EUR/USD keeps trading in a wide side channel. As we see on a 5-minute chart today, the pair trades within support at 1.1085 and resistance at 1.1130. This type of trading will continue until there is some certainty over the procedure of Brexit and it consequences.

Today’s outcome of the Bank of England meeting over the interest rate will definitely influence on the sentiment of the pair EUR/USD. The result might exert considerable pressure on the euro.

NewForex Analyst

Luigi Campo

 

[Anna Mon]

Forex News from New Forex: Gold and silver decline

Gold and silver prices tumbles in the trading on Friday, July 15, as the US dollar advances. Gold futures with the delivery in August shed 0.03% to $1.331.80 a troy ounce. Spot gold slid 0.29% to 1.330.80 a troy ounce. We suppose that spot gold might decrease further to $1,313. During this week the precious metal lost 2.9%. Currently gold is under pressure due to positive economic news from the US. Gold holdings in the largest EFT-fund SPDR Gold Trust slipped to 0.25% to 962.85 tonnes on Thursday. Silver futures edged down to 0.43% to $20.235. Spot silver fell 0.69% to $20.16.

Oil shows negative dynamics as well amid concerns over the supply glut. Crude oil with the delivery in August lost 0.96% to $45.24. In the Mercantile Exchange in London Brent slipped to 0.95% to $46.92 a barrel. Positive news from China kept oil from the further decline on Friday. The GDP of China climbed 1.8% in the second quarter, year on year the rise is 6.7%. Retail sales in June increased by 10.6% year on year. Industrial production gained 6.2%.

NewForex Analyst

Luigi Campo

Forex News from New Forex: European shares fall after the attack in France

European shares lose ground in the trading on Friday, July 15, after the horrifying terrorist attack in France where at least 84 people died. The French index CAC 40 slid 0.38%, the UK’s FTSE lost 0.20%, the German DAX edged down to 0.22%. The pan-European STOXX 600 slid 0.18%.

Clear that after the yesterday’s tragedy in Nice Europe tries to come to itself and all the other news are of secondary importance. French economy has been quite resistant to such kind of shocks but the last event might hit the touristic sector of the country.

European currency advanced 0.04% against the US dollar to 1.1123. The euro surged 0.42% to 117.61 against the yen. Against the pound sterling the euro shed 0.17%.

NewForex Analyst

Luigi Campo

Forex News from New Forex: Technical analysis of EUR/USD

In the trading on Friday, July 15, EUR/USD keeps trading in the side channel. The pair has been showing this trend for three weeks since the referendum in the UK. As we see on today’s 5-minute chart it trades within the support at 1.1105 and resistance at 1.1155.

It is likely that the pair will breach the strong resistance at 1.1165, then next day we will see an ascending trend. Otherwise, the sideways trend will remain.

NewForex Analyst

David Fineberg

 

[Anna Mon]

Forex News from New Forex: The kiwi is under pressure

Today, July 18, Statistics New Zealand data was published. The consumer price index in New Zealand in June was 0.4%. This is less than expected.

Against these data the new Zealand dollar weakened and now is under pressure. NewForex analysts believe that soon the pressure will continue.

Market participants expect the possible increase in pressure on Thursday. This will happen as there new data from Statistics New Zealand and Reserve Bank of New Zealand will be published.

In morning trading the new Zealand dollar declined against the US dollar, Australian dollar and Euro.

NewForex Analyst

Sara Rosenstein


Forex News from New Forex: Technical analysis of EUR/USD

In the trading on Monday, July 18, the pair EUR/USD shows downward movement. As we see on today’s 5-minute chart it trades within the support at 1.1035 and resistance at 1.1075.

In the coming days, perhaps, the political situation in Turkey will affect the movement of the pair. These events can exert significant pressure on the Euro and ensure the growth of the us dollar.

NewForex Analyst

Luigi Campo

 

[Anna Mon]

Forex News from New Forex: Technical analysis of EUR/USD

In the trading on Tuesday, July 19, the pair EUR/USD trades in a narrow channel. As we see on today’s 5-minute chart it trades within the support at 1.1050 and resistance at 1.1080.

The US dollar weakened against European currencies and strengthened against the yen. Tonight the publication of data on the number of issued building permits in the United States is expected. This is the main indicator on the real estate market. Probably in June building permits in the U.S. increased compared with the data in may. These data can have a significant impact on the us dollar.

NewForex Analyst
Luigi Campo

Forex News from New Forex: Today data from UK and research ZEW in Germany were published

Today two important report data on inflation in Britain and the results of the ZEW research in Germany were published. The consumer price index in the UK rose in June, higher than expected and reached 0.5%.
Pound rises after the publication of this report. GBP/USD shows the price rise while the EUR/GBP shows a decrease.

ZEW data from Germany showed the size of the fall in German economic sentiment in July. It fell more than expected to −6,8.

NewForex Analyst
Sara Rosenstein

Forex News from New Forex: RBA data weaken the Australian dollar

Today the Reserve Bank of Australia report was published. The Aussie strengthened before the RBA report. But after publication of this data it weakened. The fact that the report mentions the possibility of lowering the key interest rates in August of this year influenced on the Australian dollar. Along with this while the RBA meeting in July, the interest rate did not change and remained at the level of 1.75%.

The report also talked about the British exit from the EU. The RBA believes that the current uncertainty with the process UK output only slightly affect the growth of the world economy.

NewForex Analyst
Sara Rosenstein

 

[Anna Mon]

Forex News from New Forex: Pound sterling rises after the release of employment data

In the trading on Wednesday, July 20, the pound managed to climb after the release of the UK employment data. The level of unemployment dropped from 5.0% to 4.9% in the period from March to May. Average earnings including bonus jumped from 2.0% to 2.3% within the same period.

The pair pound/dollar added 0.59% to 1.3184. The immediate level of support is seen at 1.2968 (a low of July 12), the level of resistance stands at 1.3313 (a high of July 18). The pound surged versus the euro as well, the pair EUR/GBP shed 0.77% to 0.8339.

In spite of the positive dynamics, investors remain cautious after the decision of the International Monetary Fund to cut the forecast of the UK economic growth from 1.9% to 1.7% in 2016. The forecast for 2017 decreased from 2.2% to 1.3% due to the decision of the country to leave the European Union.

European markets look upbeat on Wednesday The pan-European index STOXX 600 advanced 0.91%. The UK’s FTSE edged up 0.32%, the German DAX rose 1.37%, the French CAC 40 added 1.14%.

NewForex Analyst

Sara Rosenstein

Forex News from New Forex: Dollar weights gold down

Gold prices decrease in the trading on Wednesday, a strong dollar exerts pressure on the precious metal. The greenback soars after the release of housing starts in the US. In June figures rose by 4.8% after a 1.7% fall in May. The dollar index picked up 0.13% to 97.19.

Gold with the delivery in August slid 1.05% to $1.318.30 a troy ounce. In the trading on Tuesday the yellow metal gained $3.00 or 0.23%. Gold has considerably surged in the first half of 2016 and now we might observe some decline but quite short. A high likelihood of the introduction of stimulus measures by central banks around the world to cope with Brexit consequences lend support to gold. At the moment spot gold stands at $1.318.20 losing 1.02%.

Spot silver tumbled 1.93% to $19.511. Silver futures with the delivery in September shed 1.76% to $19.655 a troy ounce.

NewForex Analyst

Sara Rosenstein

Forex News from NewForex: Technical analysis of EUR/USD

In the trading on Wednesday, July 20, the pair EUR/USD trades in mixed ways. The current pair price is 1.1014. As we see on today’s 5-minute chart the pair trades within the level of support at 1.0995 and resistance at 1.1020.

Yesterday a bearish sentiment prevailed in the pair as EUR/USD is under pressure amid downbeat ZEW report of the economic sentiment. Today indicators send contradictory signals as we see on histograms of MACD and oscillator Stochastic. We assume that we should see a further strengthening of the bearish sentiment.

NewForex Analyst

Sara Rosenstein

 

[Anna Mon]

Forex News from NewForex: Asian markets closed with a decline

On Friday, July 22, Asian stocks lose ground after an 8-month high. The yen rises amid low possibilities of new stimulus measures in Japan. At the moment the pair dollar/yen stands at 105.98 (-0.17%). During the week the yen shed 0.8%. The MSCI Asia Pacific index tumbled 0.6%, the Topix slid 1.3%.

The Australian and the New Zealand dollar expanded their weekly decrease reaching a 1.3% fall this week. The Reserve Bank of New Zealand stated that the introduction of monetary stimulus measures is necessary for the inflation increase, in Australia the inflation is below the targeted level. The Aussie edged down to 0.15% versus the US dollar, the kiwi managed to pick up 0.23%.

The yuan advanced 0.06% against the greenback. The economy of the country has been gradually recovering and we expect that the currency rate will stay quite stable. The interest rate cut is unlikely at the moment which triggered the fall of indexes. The CSI300 slipped to 0.6%, the Shanghai Composite slid 0.7%. In Hong Kong the Hang Seng dropped by 0.5%.

NewForex Analyst

Luigi Campo

Forex News from NewForex: Pound tumbles after low PMI data

The pound sterling declines in the trading on Friday, July 22, after the release of fresh economic data from the UK. The pair pound/dollar stands at 1.3186 (-0.35%). The immediate level of support is seen at 1.3061 (a low of July 20), the level of resistance is at 1.3313 (a high of July 18).

Preliminary PMI data in the manufacturing sphere for July decreased from 52.1 to 49.1 with the forecast at 50.0. The service sector fell from 52.3 to 47.4 instead of expected 49.2. The latest data added more concern to the possible economic slowdown in the UK due to the decision of the country to leave the European Union. The pound slides against the euro losing 0.49%. The UK’s index FTSE shows a weak rise at 0.09%.

The Composite Eurozone PMI dropped from 53.1 in June to 52.9 in July outstripping the forecast at 52.5. Although the service sector declined from 52.8 to 52.7, it stays above the forecast as well. The pan-European index STOXX 600 shed 0.04%, the German DAX and the French CAC 40 demonstrate a slight rise at 0.03% and 0.27%, respectively.

NewForex Analyst

Luigi Campo

Forex News from NewForex: Technical analysis of EUR/USD

In the trading on Friday, July 22, the pair EUR/USD shows upbeat dynamics. Yesterday the ECB decided to keep the interest rate unchanged, the bank governor Mario Draghi did not mention any short-term plans of the bank in his speech.

As a result the pair was under pressure and the price declined up to 1,0978. However, later the pair rose and today on a 30-minute chart EUR/USD trades within the support at 1.1015 and resistance at 1.1035. NewForex analysts assume that the market will keep rising today.

NewForex Analyst

Michael Butnitsky

 

[Anna Mon]

Forex News from NewForex: Oil prices decline amid growing data in the US

In the trading on Monday, July 25, oil keeps losing ground. Concerns over oil glut in the global market pull down black gold. Crude oil with the delivery in September dropped by 0.59% to $43.93 a barrel. On Friday oil slumped to $43.74, a low since May 10.

The number of drilling rigs in the US descended by 14 last week to 371 which is the fourth weekly decrease in a row. Gasoline inventories rose by 0.9 mln., while market participants expected a tumble by 0.8 mln. barrels. In total US oil inventories shed 2.3 mln. barrels last week. However, in spite of this 519.5 mln. barrels perform a historic high for this season.

In the Mercantile Exchange in London Brent with the delivery in September slid 0.61% to $45.41 a barrel. On Friday the raw material edged down to $45.17 hitting a 2-week low. Last week Brent slipped to $2.23 or 4.03%. High probability of export increase from Libya and Iraq triggers concerns as it might lead to the market glut and decrease in demand for oil among refiners.

NewForex Analyst

Sara Rosenstein

Forex News from NewForex: Euro gains against the main currencies

European markets advance after the release of upbeat data from Germany. Although the Business Climate of Germany slumped from 108.7 to 108.3 this month, it stands above the forecasts of economists. The pan-European index STOXX 600 surged 0.53%. The UK’s FTSE climbed 0.02%, the German DAX added 0.96%, the French CAC 40 rose 0.59%.

Global shares increase after the announcement of G20 Finance Chiefs about the readiness to implement necessary measures to boost the global economic growth.

In spite of the rise of the euro against the buck by 0.12%, the single currency remains at a 1-month low against the greenback. The immediate level of support is seen at 1.0908 (a low of June 24), the level of resistance stands at 1.1042 (a high of July 22). The pair euro/pound picked up 0.23% to 0.8376. The single currency jumped 0.24% against the yen to 116.58, against the Swiss franc it gained 0.14%.

NewForex Analyst

Sara Rosenstein

Forex News from New Forex: Technical analysis of EUR/USD

In the trading on Monday, July 25, the pair EUR/USD trades within the level of support at 1.0986 and resistance at 1.0950. The price went down on Friday after the news and on Monday morning it keeps declining to 1.0950 (a low of June). Now as we see on a 5-minute chart the market tries to climb.

The MACD-histogram and the oscillator Stochastic form contradictory signals. We consider that a race for the price will continue in the market today. Moreover, today was the release of IFO — Business Climate in Germany which might influence on the further pair dynamics. As this indicator decreased less than expected and stands at 108,3, a considerable price change might be expected.

NewForex Analyst

Luigi Campo

Forex News from New Forex: Technical analysis of GBP/USD

In the trading on Monday, July 25, the pair GBP/USD trades in a side channel. As we remember all last week a bearish sentiment prevailed in the market. Downbeat data on PMI in the UK exerted strong pressure on the pound sterling.

As a result today on a 5-minute chart the pair GBP/USD trades within the support at 1.3075 and resistance at 1.3300. Indicators show contradictory signals. However, NewForex analysts consider that pressure on GBP might increase.

NewForex Analyst

Luigi Campo

 

[Anna Mon]

Forex News from New Forex: Gold slightly rises amid Fed policy meeting

Gold trades warily in the trading on Tuesday, July 26. Starting the day with a decline the precious metal managed to change its direction and rises. Gold futures with the delivery in August surge 0.12% to $1.321.10 a troy ounce. Spot gold added 0.53% to 1.322.16. Silver futures with the delivery in September pick up 0.45% to $19.735.

Intentions to introduce extra monetary stimulus measures by central banks of Europe and Asia in order to mitigate consequences of Brexit lend support to metals.

Meanwhile, the market is in the anticipation of the results of a 2-day Fed policy meeting. Although market participants do not expect any interest rate hike this week, they are going to pay close attention to subtle hints about the nearest hike. Recent positive data from the US indicate that the rate hike might be earlier than by the end of the year.

At the moment the dollar index slid 0.34% to 96.94.

NewForex Analyst

David Fineberg


Forex News from New Forex: Greenback slips against the euro and the yen

In the trading on Tuesday, July 26, the US dollar edges down versus the main currencies, investors are in the anticipation of the Fed’s meeting today and its results tomorrow.

The currency instrument euro/dollar climbed 0.07% to 1.0998. The greenback shed 1.30% against the yen to 104.39, a low since July 14. The yen advanced after the information that the Japanese government is going to implement a direct fiscal stimulus in 6 trillion yen ($56 billion) in the coming years, while the market expected more considerable inflows in 10-20 trillion yen. The indexes Nikkei, JPX-Nikkei Index 400 and Topix dropped by 1.4%.

The Australian and the New Zealand dollar gain 0.75% and 0.96, respectively. The trade balance of New Zealand narrowed from $358 million in May to $127 million in June. Export climbed in the country to $4.26 billion in June, while import dropped to $4.13 billion.

European markets trade in mixed ways, investors fix their profit and wait for the decisions of central banks in Europe and Asia this week. The pan-European index STOXX 600 gained 0.02%. The UK’s FTSE surged 0.20%, the German DAX advanced 0.29%, the French CAC 40 shed 0.05%.

NewForex Analyst

David Fineberg

Forex News from New Forex: Technical analysis of GBP/USD

In the trading on Tuesday, July 26, the price movement of the pair GBP/USD remains in the side channel. As we see on a 5-minute chart the pair trades within the support at 1.3055 and resistance at 1.3145.

Yesterday news didn’t have any influence on the pound sterling, as a result trades were without any significant changes and closed in flat. Relying on signals of technical indicators we might assume that today we will observe a further downward trend of the pair with attempts to meet the target at 1.3200.

NewForex Analyst

Michael Butnitsky


Forex News from New Forex: Technical analysis of EUR/USD

In the trading on Tuesday, July 26, the pair EUR/USD shows positive dynamics. As we see on a 15-minute chart the market has an uptrend. The pair trades within the level of support at 1.0975 and the level of resistance at 1.1025.

Yesterday the euro advanced against the US dollar amid upbeat data from Germany, the trades closed with gains for the single currency. The index of business climate in Germany declined not so seriously as expected.

Currently judging by indicators the pair EUR/USD moves upwards. However, a two-day policy meeting of the Federal Reserve System the results of which will be announced tomorrow might have a considerable influence on the pair.

NewForex Analyst

Michael Butnitsky

 

[Anna Mon]

Forex News from NewForex: Yen falls against the dollar and the euro

The Japanese Prime-Minister Shinzo Abe intends to allocate 28 trillion yen to support the country’s economy. The program includes 13 trillion as fiscal measures. Japanese economy faces pressure due to the demand contraction abroad. The growth of the yen in 2016 makes the goods produced in the country less attractive, which endangers export in Japan. Abe claimed that it is necessary to support domestic demand and make the economy steadier.

Investors are in the anticipation of the Bank of Japan meeting this Friday where it might be decided to cut the interest rate from −0.1% to −0.2%. The bank might also extend stimulus measures.

Today the currency instrument dollar/yen jumped 0.80% to 105.48. Euro/yen gains 0.90% to 116.01. Japanese indexes reacted with a rise after the speech of the Prime-Minister. The Nikkei picked up 1.7%, the Topix added 1.1%, the JPX-Nikkei Index 400 edged up 1.2%.

NewForex Analyst

Michael Butnitsky


Forex News from NewForex: Oil and gold decline

Oil loses ground in the trading on Wednesday, July 27, markets are in the anticipation of weekly oil stocks in the US. Crude oil WTI with the delivery in September shed 0.65% to $42.64 a barrel. On Tuesday black gold slumped to $42.36, a low since April 20. Brent oil descended by 1.23% to $44.32. Raw material slid around 15% since the start of June, high oil stocks push prices down. We assume that in the short term the decrease will continue due to oil glut.

Gold tumbles as well, the main reason is strengthening of the US dollar before the release of Fed’s policy meeting results over the interest rate. It is highly likely that the interest rate will remain unchanged till the end of summer. Spot gold trades with a slight rise at 1.320.29 (+0.03%). Stocks of the precious metal in the largest EFT-fund SPDR Gold Trust edged down to 0.45% to 954.24 tonnes. Spot silver trades flat at $19.614.

NewForex Analyst

Michael Butnitsky

Forex News from NewForex: Technical analysis of EUR/USD

In the trading on Wednesday, July 27, the pair EUR/USD trades in a side ascending channel within the level of support at 1.0978 and the level of resistance at 1.1003. As we see on a 5-minute chart, the single currency tries to advance against the US dollar. Yesterday the euro eased amid the release of upbeat data from the US.

Today the market movement will depend on the results of a 2-day Fed policy meeting and the decision over the interest rate. NewForex analysts consider that up to this moment the pair will keep gaining.

NewForex Analyst

David Fineberg

Forex News from NewForex: Technical analysis of GBP/USD

In the trading on Wednesday, July 27, the pair GBP/USD trades within a narrow range. On a 5-minute chart the instrument GBP/USD stands within the support at 1.3104 and resistance at 1.3163.

NewForex analytsts point out that the pound sterling is highly unsteady amid recent data. Market participants are concerned about the possible cutdown of the interest rate by the Bank of England at the beginning of August. Meanwhile, the US dollar gains ground amid positive economic data from the US. This situation can be used to open short trades. However, it’s better to wait for the Fed’s decision which will definitely influence on the US currency.

NewForex Analyst

David Fineberg

 

[Anna Mon]

Forex News from NewForex: Aussie and kiwi surge after the Fed’s report

The Australian and the New Zealand dollar advance against the greenback after the Fed’s decision to keep its policy unchanged. The currency instrument AUD/USD added 0.69% to 0.7542. Kiwi/dollar picked up 0.42% to 7.7102. The Fed’s decision to hold the interest rate unchanged was quite predictable. It was mentioned in the report that economic risks have decreased in the country and the labour market got stronger. Thus, in the short-term we might expect the interest rate hike in September.

Commodity currencies gained amid the rise of oil prices, although oil glut keeps exerting pressure on black gold. WTI futures picked up 0.26% to $42.03 a barrel, Brent lost 0.25% to $43.36. The Canadian dollar edged up 0.36% versus the buck to 1.314. At the moment the dollar index slipped to 0.35% to 96.41, a low since July 15.

Japanese and Chinese markets decline. The Japanese Nikkei took a break after a rise amid strong positions of the yen. The index shed 1.1%. The Topix and the JPX-Nikkei Index 400 edged down to 1.1% too. In Hong Kong shares descend due to the fall of energy and financial shares. The Hang Seng slid 0.2%, the China Enterprises Index tumbled 0.4%.

NewForex Analyst

David Fineberg

Forex News from NewForex: Sentiment of the European market improves

The European market moves up and down after the Fed’s decision to keep the interest rate unchanged. Investors are in the anticipation of the Bank of Japan decision over the interest rate. The UK’s FTSE shed 0.19%, the German DAX added 0.01%, the French CAC 40 tumbled 0.12%. The pan-European STOXX 600 loses 0.3%.

The economic sentiment of Eurozone improved in July in spite of some negative forecasts of economists due to consequences of Brexit. The business climate rose from 0,22 to 0,39. The industrial confidence index advanced from −2,8 to −2.4. Consumer confidence index remained unchanged at −7.9. The sentiment in the service sector jumped from 10.9 to 11.1.

The UK economic sentiment dropped from 107.0 in June to 102.6 in July with losses in all leading sectors. The largest fall is seen in the consumer sector. The consumer confidence index fell from −1.2 in June to −9.2 this month.

The pair euro/dollar stands at 1.1084 (+0.26%). Euro/pound climbed 0.72% to 0.8423.

NewForex Analyst

David Fineberg

Forex News from NewForex: Technical analysis of GBP/USD

In the trading on Thursday, July 28, the pair GBP/USD jumped to 1.3253. As we see on a 15-minute chart the pair GBP/USD trades within the level of support at 1.3160 and resistance at 1.3250. Yesterday evening GBPUSD moved upwards after a long-term trading in a side channel. It happened due to easing of the greenback after the Fed did not announce its plans over the interest rate for September.

Currently indicator signals say about the further development of the ascending trend. Although taking into account the fact the pound sterling lost ground amid recent economic news, we might expect some correction and a downward trend of the pair.

NewForex Analyst

Luigi Campo


Forex News from NewForex: Technical analysis of EUR/USD

In the trading on Thursday, July 28, the pair EUR/USD demonstrates active upwards dynamics. As we see on a 15-minute chart the pair trades within the support at 1.1050 and resistance at 1.1111. Yesterday evening the price of the pair started to rise amid the news from the Fed. As a result the US dollar tumbled because the Fed did not say anything about the possible interest rate hike in September.

NewForex analysts consider that in the short time we might observe a further ascending trend of the pair.

NewForex Analyst

Luigi Campo

 

[Anna Mon]

Forex News from NewForex: European indexes rise after fresh data on Eurozone

European markets display positive dynamics in the trading on Friday, July 29. However, the increase is quite moderate as investors estimate the decision of the Bank of Japan to keep the interest rate unchanged at −0.1%, while a lot of market participants expected a descend to −0.2%.

Today the pan-European index STOXX 600 advanced 0.57%. The UK’s FTSE picked up 0.03%, the German DAX added 0.62%, the French CAC 40 climbed 0.21%.

Latest data on economic situation in Eurozone lends support to the market. The GDP of Eurozone in the second quarter dropped from 0.6% to 0.3%, which complies with forecasts. The unemployment rate in June remained at the level 10.1%. The preliminary consumer price index for July rose year-on-year from 0.1% in June to 0.2% this month. The core CPI, which excludes food, energy, alcohol and tobacco prices, remained at 0.9%.

Currently the currency instrument euro/dollar edged up 0.22% to 1.1099. Euro/pound surged 0.19% to 0.8426.

NewForex Analyst

David Fineberg

Forex News from NewForex: Oil and gold prices tumble

On Friday, July 29, oil futures hit a 3-month low. Obviously oil glut contributes to the negative sentiment in the market. WTI futures with the delivery in September dropped by 0.95% to $40.75. Brent shed 1.5% to $42.06. It was reported this week that US oil inventories rose by 1.7 million barrels to 521.1 million barrels which presents a historic high for this summer.

Gold loses ground as well in spite of decisions of the Bank of Japan and the Fed to hold the interest rate unchanged. Today gold futures with the delivery in December slid 0.03% to $1.340.80 a troy ounce. The immediate level of support is seen at $1,330.10 (a low since July 28), the level of resistance stands at $1,356.90 (a high since July 12). Spot gold edged down to 0.1% to 1.334.16.

Silver futures with the delivery in September tumbled 0.55% to $20.085 a troy ounce whereas silver spot declined by 0.53% to $20.04.

NewForex Analyst

David Fineberg

Forex News from NewForex: Technical analysis of EUR/USD

In the trading on Friday, July 29, the pair EUR/USD trades in the ascending channel. On a 15-minute chart we see that the pair stands within the level of support at 1.1070 and resistance at 1.1103. Yesterday the single currency gained against the US dollar but did not manage to breach a strong resistance level and the euro started a day with the decline.

The MACD-histogram is seen above its signal line and keeps rising sending signals to buy. The oscillator Stochastic forms a similar signal. However, today market participants are in the expectation of GDP data from the USA which is likely to be upbeat. This fact might change placement of forces in the pair EUR/USD.

NewForex Analyst

Luigi Campo

Forex News from NewForex: Technical analysis of USD/JPY

In the trading on Friday, July 29, the pair USD/JPY showed a considerable decline after the decision of the Bank of Japan to keep its policy unchanged. The yen gains ground against the US dollar. On a 15-minute chart the pair trades within the support level at 102.65 and resistance at 05.70.

NewForex analysts advise not to rely on indicator signals today as they don’t confirm each other. It’s recommended to wait for important information from the US over the GDP rate, it might change the pair sentiment.

NewForex Analyst

Luigi Campo

 

[Anna Mon]

Forex News from NewForex: Technical analysis AUD/USD

At the trading on Tuesday, August 23, the AUD/USD shows increase.
Today it trades within the resistance at 0.7647. When the pair hits this level, it is appropriate to buy at 0.7656. The reasonable target price is at the resistance level of 0.7709. It is preferable to limit the loss at the support level 0.7635.

NewForex Analyst
Joseph Schwartz

Forex News from NewForex: Technical analysis of GBP/USD
Today GBP/USD shows growth. Now the pair has reached the resistance level at 1.3165. When hitting this level, it is appropriate to buy from the level of 1.3197. The reasonable target price is at the resistance level of 1.3312. Loss should be restricted at the support level 1.3152.

NewForex Analyst
David Fineberg

Forex News from NewForex: Fundamental analysis of gold
This year gold rose almost 25%, having reached its highest level of $1.375.25 (since March, 2014) after Great Britain left the EU. The price tumbled amid the news that USA economy gains strength.

The positive analytics from the USA about employment shows good perspective for the world’s largest economy and may exert additional influence on the gold price.
More strong data on jobs in nonagricultural sector gives the Fed more freedom to raise interest rates what may decrease the gold price in the short term.

The price of gold slid $7 to 1341. Now it is not able to rise higher as traders still do not know what move the Fed will make. Some traders discuss a possible rate hike in September while others talk about its decline.

NewForex Analyst
Luigi Campo

 

[Anna Mon]

Forex News from NewForex: Technical analysis of GBP/JPY

GBP/JPY shows growth this week, moving along the support line. Taking this fact, we can assume that this movement will continue. On this basis, the analysts of NewForex company suggest to buy from 132.95. The level of a target price is 136.35. It is preferable to limit the loss at 131.80.

NewForex Analyst

Aaron Kaufmann

Forex News from NewForex: Fundamental analysis of European currency

One of the main economic news on August 24, 2016 was the release of Germany GDP data. Following this information, the Euro slids versus all currencies as the negative sentiments spread.
Due to the unusual liquidity flow of EUR/USD, Common European Currency strengthened during the US session.
However, discarding the influence of the dollar, we can observe that the Euro is facing the negative impact of the fundamental factors.
The most significant event today is the updating of Germany GDP data for the second quarter. The expected record growth of 2.2% is confirmed.
However, the real problem refers to the future trends, not to the previous indexes.
As expected, export (8.2% of growth) and investment in construction (5.2%) played the key role in GDP growth.

NewForex Analyst
Joseph Schwartz

 

[Anna Mon]

Forex News from NewForex: Technical analysis of GBP/JPY

GBP/JPY continues to move along the ascending channel. The channel boundaries are often tested. This gives us the right to believe that the price will move within these boundaries for some time. Taking this fact, the analyst of NewForex recommend to buy at 132.96. It is reasonable to take profit at 134.51. The appropriate level of stop loss is at 132.48.

NewForex Analyst

Michael Butnitsky

Forex News from NewForex: Technical analysis of USD/CHF

USD/CHF continues to move along the descending channel. Yesterday the price breached the support level and edged up. On this basis, the analysts of NewForex suggest to buy from the level of 0,9663. The target price is at 0,9860. And the stop loss level is at 0,9585.

NewForex Analyst

Aaron Kaufmann

Forex News from NewForex: Fundamental analysis of American currency

Today the most significant economic news affecting the Forex market quotes, is publishing of data on the real estate sale in the primary market of the United States. If positive statistics are released, it will mean the readiness of citizens to spend considerable sums to purchase of the real estate, which proves their confidence in economic situation. This year new build sales increased by 31% and verged to 654.000 houses a year. This is a good indicator. It is possible to estimate in such conditions both the growth of incomes, and the GDP increase in the United States. NewForex analysts believe that this fact will push the Fed to increase interest rates in the current year. Most likely it will happen after the presidential elections at the meeting on December 14. Taking into account that financial markets consider not only the facts but also rumors and expectations, we can assume that the decision on the intermediate-term selling of EUR/USD can be made today. The data on actual sales result of houses will be published in the afternoon. According to our forecast, we will see the better statistics than expected. Considering this, we advise to sell the pair EUR/USD.

NewForex Analyst

Joseph Schwartz

 

[Anna Mon]

Forex News from NewForex: Technical analysis of gold price

This trading week, gold left the previously formed "triangle" with the downtrend. This gives us the right to believe that the movement will continue. In this regard, Newforex analysts suggest to sell from 1306.72. The reasonable target price is at 1219.70. The level of stop loss is at 1338.91.

NewForex Analyst
Joseph Schwartz

Forex News from NewForex: technical analysis of AUD/USD

The AUD/USD is approaching to the resistance level at 0.7639. When the price breaches this level, it will be appropriate to buy at 0.7647. The target price is at 0.7700. The level of stop loss is at 0.7628.

NewForex Analyst

Aaron Kaufmann

Forex News from NewForex: fundamental news from US

The FOMC meeting in September will be held less than in a month. Next week the market will get a large block of macroeconomic statistics that can considerably affect expectations about the next actions of the regulator. First of all, two interesting events are expected next week: the publication of U.S. GDP data for the second quarter and the speech of Federal Reserve Chair Janet Yellen at the annual symposium in Jackson Hole. Investors should be careful, because the attention on Yellen’s speech may cause increase in the volatility of the market.

NewForex Analyst

David Fineberg