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Daily Briefing; US Futures higher ahead of consumer sentiment data

 CurrenciesEUR/USD: The pair is fell from OUR Identified resistance zone (given on 9th Feb) on a 4 hour time frame. The next support is near the 1.0883 level and the resistance is 1.1387. USD/JPY: The pair is trading below its downward trend line on a 4 hour time frame. The near term support is at 109.60 and the resistance is at 115.83. GBP/USD: The pair is trading below its … [Read More...]

shutterstock_162625859

European markets recovering losses | German GDP data matched forecast | Yellen kept negative rates on table| Oil focus on OPEC

European markets are ready to recover some of the losses after being battered badly throughout this week. Traders are thinking enough is enough and let's bag some bargain and this is despite the fact that we had a heavy sell off over in Asia. The Nikkei index plunged nearly over 4.8% as the Japanese continued to strengthen against the dollar. Strong Yen is an adverse affair for the Japanese export … [Read More...]

EURGBP 12-02-2016

EUR/GBP- Looking Bullish, will you trade?

The EUR/GBP currency is trading above its upward trend line on a daily time frame. This confirms that the trend is skewed towards the upside. The price was trading outside the Bollinger band but now it is retracing towards its 20 day moving average which confirms that the volatility is easing off. As long as we stay above the upward trend line, the bias remains towards the upside.The RSI is … [Read More...]

Today’s Technical Analysis

EURGBP 12-02-2016

EUR/GBP- Looking Bullish, will you trade?

The EUR/GBP currency is trading above its upward trend line on a daily time frame. This confirms that the trend is skewed towards the upside. The price was trading outside the Bollinger band but now it is retracing towards its 20 day moving average … [Read More...]

USDJPY 11-02-2015

USD/JPY- Extreme oversold signals

The USD/JPY trade has ripped towards the downside on a 4 hour time frame. The pair has pierced the Bollinger band and this represents that the volatility is high. The piercing of the Bollinger near a valid support zone is considered as an opportunity … [Read More...]

USDJPY 10-02-2015

USD/JPY- Trading in a Support Zone

The USD/JPY pair bouncing from its support of (114.24-113.73) on a 4 hour time frame. The support zone does has a significant importance as the price has not touched this level since November 2015. The price is still trading below the downward trend … [Read More...]

EURUSD 09-02-2016

EUR/USD- Trading above its upward trend line

The EUR/USD pair is trading above its upward trend line on a 4 hour time frame. The price is trading within the Bollinger band and this confirms that the volatility has eased off and the price is close its 20 day moving average. However, it also … [Read More...]

GBPUSD 08-02-2016

GBP/USD- Selling pressure building up

The GBP/USD pair is trading below its downward trend line on a 4 hour time frame. The price has crossed below the 20day moving average (shown in pink) which confirms that the bears are picking the steam. However, we are still trading above the 50 … [Read More...]

Weekly Forecast

retail sales 12-05

Week Ahead: Fundamentals U.S – 24th – 30th of Nov.

U.S will kick off their trading week with a major economic event  release on Tuesday which is the Prelim GDP q/q data. On Wednesday, investors will look at the core durable goods orders and the unemployment claims data.  Also on Wednesday, the main focus of the week with the New Homes Sales data.

 

Tuesday Fundamentals:

1.      Prelim GDP q/q

Data:

Previous Figure: 3.5%

Forecast Figure: 3.3%

Time: 14:30 GMT

 

2.       CB Consumer Confidence

Data:

Previous Figure: 94.5

Forecast Figure: 95.9

Time: 16:00 GMT

Screen Shot 2014-11-24 at 11.54.08

Source: Bloomberg & Bloomberg Brief

Sentiment:

Most economists are predicting that the overall reading could have inflated due to the continuous fall in the oil prices which has increased the buying power for the consumers.

 

Wednesday Fundamentals:

1.       Core Durable Goods Orders m/m

Data:

Previous Figure: -0.1%%

Forecast Figure: 0.5%

Time: 14:30 GMT

 

2.     Unemployment Claims

Data:

Previous Figure: 291K

Forecast Figure: 287K

Time: 14:30 GMT

 

3.    New Home Sales

Data:

Previous Figure: 467K

Forecast Figure: 471K

Time: 16:00 GMT

Screen Shot 2014-11-24 at 12.01.20

Source: Bloomberg & Bloomberg Brief

Sentiment: 

We do not think that the New Home Sales improvement will show much of an improvement this week because the inventory data is still depressed.

 

core CPI  15-04-2014

Week Ahead: Fundamentals U.S – 14th – 21th of April.

 

U.S will kick off their trading week with a major economic event  release on Monday which is the core retail sales data. On Tuesday, investors will look at the core CPI and Empire State Manufacturing. Wednesday is the main focus day of the week with Building permits and housing starts. Thursday, will focus on unemployment claims and the Philly Fed manufacturing index will take traders attention.

 

Monday Fundamentals:

1.       Core Retail Sales m/m

Data:

Previous Figure: 0.3%

Forecast Figure: 0.5%

Time: 13:30 GMT

Tuesday Fundamentals:

1.       Core CPI m/m

Data:

Previous Figure: 0.1%

Forecast Figure: 0.1%

Time: 13:30 GMT

 

Sentiment:

Most economists are predicting that the overall reading could remain muted because the underlying factors rents are not increasing. The chart shows the comparison between the PPI, Core PPi, CPI and core CPI index.

core CPI  15-04-2014

Source: Bloomberg & Bloomberg Brief

 

2.       Empire State Manufacturing Index

Data:

Previous Figure: 5.6

Forecast Figure: 8.2

Time: 13:30 GMT

 

Sentiment:

The chart shows the comparison between the empire state index and the Philadelphia index.

empire state 15-04-2014

Source: Bloomberg & Bloomberg Brief

 

Wednesday Fundamentals:

1.       Building Permits

Data:

Previous Figure:1.01M

Forecast Figure:  1.00M

Time: 13:30 GMT

 

2.       Housing Starts

Data:

Previous Figure: 0.91M

Forecast Figure:  0.97 M

Time: 13:30 GMT

 

Sentiment:

An increase in the speculation such as a hike in the interest rate and diminishing hunger for new homes could have an impact on the final number.  The belwo chart shows the comparison between the permits and Starts.

housing starts

Source: Bloomberg & Bloomberg Brief

 

 

Thursday Fundamentals:

 

1.       Unemployment Claims

Data:

Previous Figure: 300K

Forecast Figure:  316K

Time: 13:30 GMT

 

2.       Philly Fed Manufacturing Index

Data:

Previous Figure: 9.0

Forecast Figure: 9.6

Time: 15:00 GMT

 

The above is for informational purposes only and NOT to be construed as specific trading advice. Responsibility for trade decisions is solely with the reader.
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