0

BRL, Ibovespa at Risk From Brazil-China Investment Negotiations

Hits: 7


TALKING POINTS – BRL, IBOVESPA FUTURES, BOLSONARO, GLOBAL GROWTH

  • Brazil Vice President Hamilton Mourao to meet with high-level officials, Xi Jinping
  • This is part of a diplomatic effort to fortify relationship after Bolsonaro’s comments
  • Weaker demand out of China, slow pension reform progress weighs on Brazil econ

See our free guide to learn how to use economic news in your trading strategy!

BRAZIL-CHINA RELATIONS

BRL and the benchmark Ibovespa equity index will be closely watching the five-day negotiations between Brazilian Vice President Hamilton Mourao and high-level Chinese officials. Hamilton is expected to meet with General Secretary of the Communist Party of China Xi Jinping. Brazil-China relations have somewhat deteriorated ever since Jair Bolsonaro became President.

“The Chinese can buy in Brazil, but they can’t buy Brazil”, said Bolsonaro. Most of his appointees have a military background, and as such, are hesitant to have close ties with a country that potentially poses a security threat. This comes against the backdrop of greater scrutiny over potential security threats posed by Chinese tech giant Huawei.

Both China and Brazil are major players in the emerging market association known as BRICS – Brazil, Russia, India, China and South Africa. China is also Brazil’s largest trading partner and the biggest consumer of Brazilian iron ore. Brazil may also soon replace the US as China’s biggest client of imported soybean products due to Beijing’s tariff imposition on US-based soybean crops.

Brazil-China tensions have already somewhat softened after officials in Sao Paulo stated that they will no longer seek WTO intervention on China’s policies on sugar tariffs. The concession was likely a gesture of good faith ahead of this week’s talks and may provide a more favorable backdrop to investment negotiations.

However, the small boon granted from the US-China trade war is outweighed by the cost associated with the economic conflict. As an emerging market economy, Brazilian assets are particularly sensitive to changes in global risk appetite. This reaction will only be amplified as the government attempts to open up Brazil’s economy to the world, making it more in sync – or vulnerable – to changes in global demand.

BRAZIL ECONOMY OUTLOOK

A few days ago, the Brazilian Economy Ministry cut the country’s GDP forecast for 2019 from 1.6 percent to 2.2 percent. Some of this has to do with the slow progress and uncertain outlook on Bolsonaro’s market-disrupting pension reforms and the implications they have domestic growth prospects. Pessimism over the outcome has led to slower economic activity and reduced the appeal of the Brazilian Real.

USDBRL at its Highest Point Since October 2018 – Daily Chart

Chart Showing USD/BRL

The Ibovespa has been showing some improvement, with futures retesting support after previously breaking through it. While Brazilian markets have been primarily driven by the progress on pension reforms, this market move may have less to do with the structural plans and more with the central bank. If economic data continues to underperform, it may prompt monetary authorities to adjust to a more dovish stance.

Ibovespa Futures Retesting Support

Chart Showing Ibovespa futures

The prospect of cheaper credit may therefore be the leading cause behind the rally in the Ibovespa. Looking ahead, US-China trade relations will persist as a global fundamental headwind and will continue to pressure Brazilian exports. Looking ahead, negotiations between China and Brazil will be crucial to see if a stronger relationship will lead to greater investment that could help lift up Brazilian economic activity.

FX TRADING RESOURCES

— Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|

0

USDCAD Breakout, GBPUSD Selling Persists, EURGBP on Record Win Streak

Hits: 13


MARKET DEVELOPMENT –USDCAD Breakout, GBPUSD Selling Persists, EURGBP on Record Win Streak

DailyFX Q2 2019 FX Trading Forecasts

GBP: The outlook for the Pound remains soft, a break below 1.2670 sees GBPUSD at the lowest level since the beginning of January. With little end in sight regarding the political uncertainty at Downing Street, GBPUSD looks set to drift lower, in which a close below 1.2670 raises the risk of a move south of the 1.26 handle. UK CPI rose to the highest level this year, stemming from energy price hikes, however, the figures had been softer than expectations, reaffirming the case that the BoE are unlikely to hike this year.

EUR: Cross-related buying in EURGBP continues to keep the Euro elevated, eyes are on for a test of resistance at 0.8838, which could provide a temporary halt to the advances in the cross. EURUSD remains consolidated within the 1.11-1.12 range for now. However, less dovish FOMC minutes and tomorrow’s soft EZ PMIs could see Euro test lower levels. Support at 1.1135-40 and 1.1112.

CAD: The Canadian Dollar is notably firmer this morning after the better than expected retail sales data, which provides another reminder that the Canadian economy remains resilient. Consequently, the Citi Economic Canadian Surprise Index is now at the highest level since Q1 2018. Alongside this, tighter US/CA yield spreads have also keep the Loonie supported. Reminder, DailyFX, IG Trade Idea, Bearish AUDCAD (from May 17th)

Source: DailyFX, Thomson Reuters

DailyFX Economic Calendar: – North American Releases

USDCAD Breakout, GBPUSD Selling Persists, EURGBP on Record Win Streak - US Market Open

IG Client Sentiment

USDCAD Breakout, GBPUSD Selling Persists, EURGBP on Record Win Streak - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. Crude Oil Price Eyeing Break of Near-Term Technical Support” by Nick Cawley, Market Analyst
  2. USD Bulls Eye Return to 2019 Highs on FOMC Minutes” by Justin McQueen, Market Analyst
  3. Dow Jones, US & UK Crude Oil, Silver Price Charts & More” by Paul Robinson, Currency Strategist
  4. GBPUSD Price May Yet Drop More as UK Inflation Data, Brexit Sour Mood” by Martin Essex, MSTA, Analyst and Editor
  5. Using FX To Effectively Trade Global Market Themes at IG” by Tyler Yell, CMT , Forex Trading Instructor

— Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|

0

GBPUSD Price May Yet Drop More as UK Inflation Data, Brexit Sour Mood

Hits: 20


GBP price, news and analysis:

  • The GBPUSD price outlook remains poor as brief Brexit optimism Tuesday dissipates and the race to replace Theresa May as UK Prime Minister waits for the starting flag to be waved.
  • Meanwhile, news of weaker-than-expected UK inflation data is adding to Sterling’s woes.

GBPUSD weakness may persist

GBPUSD continues to trade within the downward channel on the charts that has been in place for most of this month so far and could fall to 1.26 as the Brexit process continues to go nowhere. After an offer Tuesday by UK Prime Minister Theresa May of a Parliamentary vote on a second Brexit referendum, that gave Sterling a brief boost, failed to gain support, GBP dropped back again and continues to look weak.

As the runners and riders jostle for position at the starting line, waiting for the official starting flag to be waved in the race to replace May as Prime Minister, uncertainty is bound to persist – and so far GBPUSD has shown little sign of responding favorably to her likely fall.

GBPUSD Price Chart, Hourly Timeframe (May 3 – May 22, 2019)

Chart by IG (You can click on it for a larger image)

DailyFX poll: Corbyn could be best successor to PM May for GBP

In the meantime, UK inflation data for April showed a smaller-than expected increase to 2.1% year/year from March’s 1.9%. That compares with the consensus forecast of 2.2%, although it was still the highest this year, pushed up by a rise in energy bills.

Resources to help you trade the forex markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

— Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|

0

Retail Sector Slides Amid a Series of Missed Earnings

Hits: 12


S&P 500 Outlook Talking Points:

S&P 500 Outlook: Retail Sector Slides Amid a Series of Missed Earnings

Tuesday trading saw the S&P 500 close comfortably higher after the United States Commerce Department offered a licensing extension to Huawei. Elsewhere, a mixed bag of earnings from Home Depot, JC Penny, Kohl’s and Nordstrom offered their own influence on the Index. While share performances from the companies were mixed, weakness was widespread and a familiar theme rang true throughout.

Home Depot

Shares of Home Depot (HD) traded higher in Tuesday’s session – despite a tough quarter by many metrics. The company blamed poor weather conditions, labor shortages and weak lumber prices for their in-store sales miss which increased just 2.5% compared to analyst expectations of 4.2%. Alongside weather, labor and lumber, the company warned of the potential impact from the US-China trade war.

View A Brief History of Trade Wars for background on economic conflicts like the US-China Trade War.

Edward Decker, executive vice president of merchandising for Home Depot sad the latest round of tariffs on Chinese goods would raise the annual cost of goods sold by about $1 billion. “We haven’t worked through what we will do if the cost increase comes to us. Sometimes when we have cost increases, we pass it through in retail prices, sometimes we don’t” he said on a conference call. Home Depot said it already saw a $1 billion impact from US tariffs in 2018. Despite the possible $2 billion hurdle, Mr. Decker said the total was manageable.

Home Depot (HD) Price Chart: Daily Time Frame (September 2018 – May 2019 ) (Chart 1)

JC Penny

JC Penny (JCP) traded near its all-time low of $0.94 a share on Tuesday after warning of a “meaningful impact” on its private and national brands from the next round of tariffs on China. JCP CEO Jill Soltau said the tariffs that were already in effect have had a minimal impact on business, but the company would continue to work on “de-risking efforts” with suppliers.

JC Penny (JCP) Price Chart: Daily Time Frame (September 2017 – May 2019) (Chart 2)

S&P 500 Outlook: Retail Sector Slides Amid a Series of Missed Earnings

Kohl’s

Kohl’s (KSS) suffered a similar fate in Tuesday trading but offered no commentary on the US-China trade war. Same-store sales fell -3.4%, compared to analyst expectations of just -0.2%. In turn, the retailer slashed guidance. On the back of this news, KSS shares slid to their lowest since January 2018 and suffered their largest lower gap since January 27 at -12.15%.

Kohl’s (KSS) Price Chart: Daily Time Frame (December 2017 – May 2019) (Chart 3)

S&P 500 Outlook: Retail Sector Slides Amid a Series of Missed Earnings

Nordstrom

Finally, Nordstrom (JWN) weighed in with its own disappointing results. Consequently, the company cut guidance and JWN shares traded to their lowest since September 2010 in response. The company did not, however, blame or comment on the US-China trade war. Instead, JWN executives pointed to “softer trends and executional issues” for the quarterly underperformance.

Nordstrom (JWN) Price Chart: Weekly Time Frame (January 2009 – May 2019) (Chart 4)

S&P 500 Outlook: Retail Sector Slides Amid a Series of Missed Earnings

Retail Sector Falters on Widespread Weakness

Following the sector-wide miss, the XRT retail-tracking ETF traded at its lowest ratio to the S&P 500 since June 2009. While each company offered silver linings in their respective reports, the industry has been slow to adapt to Amazon’s disruption and the US-China trade war is yet another headwind for an already struggling space.

XRT ETF Price Chart: Weekly Time Frame (January 2008 – May 2019) (Chart 5)

S&P 500 Outlook: Retail Sector Slides Amid a Series of Missed Earnings

Ratio of XRT ETF to SPX overlaid in red

For the S&P 500, retail weakness was overshadowed by tech and semiconductor strength amid the Huawei licensing extension. Now the Index must negotiate Wednesday’s release of Fed minutes from the FOMC meeting earlier this month. From a technical perspective, the Index rests narrowly beneath the 38.2% Fibonacci retracement from March’s lows to May’s high. Ahead of the Fed minutes, follow @PeterHanksFX on Twitter for equity insight.

S&P 500 Price Chart: 1 – Hour Time Frame (May 2019) (Chart 6)

S&P 500 price chart

–Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: TSLA, Uber Stock Troubles Could Signal Shifting Tech Sentiment

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|

0

TSLA, Uber Stock Troubles Could Signal Shifting Tech Sentiment

Hits: 15


TSLA, Uber Stock Trouble Talking Points:

  • TSLA and Uber have fallen under pressure as investors shy away from companies with shoddy balance sheets as tech sentiment shifts
  • Shifting sentiment on the fringes of the tech sector could pose a deeper threat to the stock market
  • Retail traders are overwhelmingly short the S&P 500, find out how to use IG Client Sentiment Data with one of our Live Sentiment Data Walkthroughs

TSLA, Uber Stock Troubles Could Signal Shifting Tech Sentiment

With trade war tensions and geopolitical themes at large, the less explosive but ever-present theme of monetary policy has momentarily taken the back seat – just a day before Fed minutes are due. While traders will look to tomorrow’s event for an update on the central bank’s policy leanings, some investors have already begun to unwind their riskier allocations as monetary policy constricts – relative to recent years. In turn, some of the loftier valuations on the Street have started to come back to Earth. One such example may be Tesla (TSLA), a pioneer of the electric vehicle space and darling of financial news media.

Data source: Bloomberg

Elon Musk’s Tesla Motors is one of the worst performing stocks on the Nasdaq 100 in the year-to-date, currently 35% lower than it opened on January 2. Shares were pressured further in Tuesday trading after Morgan Stanley analysts said the stock could trade as low as $10. Currently trading near $200, Tesla shares are at their lowest price since mid-December of 2016. In that same span, the S&P 500 has climbed more than 40%.

While many investors have always had underlying concerns regarding the company’s profitability outlook, it seems the current state of the stock market has pushed some speculators past their comfort level. It could be argued the recent Uber IPO is another instance of this shifting sentiment.

Uber Finds Few IPO Riders

In one of the biggest and most anticipated IPOs in recent years, Uber began trading publicly on May 9. Long hailed as an intriguing investment opportunity, the company found few buyers on opening day – trading beneath its opening price. The ride-hailing service has many of the same symptoms as Tesla, uncertain profitability and spending problems. In its prospectus, Uber revealed it loses $1.8 billion a year and may not turn a profit for years to come. That said, the jury is still out on Uber, but the initial signs do not exude signs of confidence.

The lack of demand for these fringe tech-stocks appears to contrast with months and years prior when investors were willing to stomach the heightened risk brought about by their uncertain profitability. Now that quantitative easing is out of the picture and interest rates have crept higher, some market participants now see valuations that were once acceptable as bubble candidates. With many worrying about general market valuation, the “froth” at the top may continue to see pressure – similar to the Tech Bubble in 2001.

Still, there are arguments to be made for the other side. In 2015, Janet Yellen expressed concern of stock market valuations as she left her post as Chairwoman of the Federal Reserve. In an interview with CBS on February 5, 2018 – a day during which the Dow Jones plummeted 666 points – Mrs. Yellen had this to say of the stock market. “Well, I don’t want to say too high. But I do want to say high. Now, is that a bubble or is it too high? And there it’s very hard to tell. But it is a source of some concern that asset valuations are so high.”

Since then, the S&P 500 has climbed 8.15% and the Dow Jones 6.15% – a statistic some market participants may cite to fuel further speculation. That said, headwinds continue to mount the monetary policy conditions are materially tighter. The combination of valuation, waning easing and global economic headwinds have begun to weigh on the most vulnerable and should the trend progress, more established companies in the technology sector may begin to feel pressure.

–Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: USDCAD: USD Eyes Powell & Fed, CAD Climbs on USMCA & Oil

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|

0

USD Eyes Powell & Fed, CAD Climbs on USMCA & Oil

Hits: 13


USDCAD – TALKING POINTS

USDCAD dipped to the 1.3400 handle as upbeat USMCA news continues to put downward pressure on the currency pair. The recent move lower in USDCAD was likely exacerbated by gains in oil following reports that OPEC production cuts will be extended while recent Iranian conflict could further threaten global oil supply.

USDCAD PRICE CHART: 30-MINUTE TIME FRAME (MAY 17, 2019 TO MAY 21, 2019)

Although the Canadian Dollar looks to continue benefiting from an impending trade deal with the United States in addition to climbing oil prices, further downside in spot USDCAD could be limited over the short-term. One notable technical development during Tuesday’s session was the sharp rebound higher USDCAD notched after touching the 1.3400 price level – a major area of confluence which looks to serve as technical support.

If spot USDCAD continues to creep higher and breaks above the negative-sloping trendline drawn along the series of lower highs since last Friday, it might signal that the latest push lower in USDCAD may be running out of steam. This possible scenario could grow increasingly likely if the forex rate also overcomes technical resistance posed by the 23.6 percent and 38.2 percent Fibonacci retracement levels shown above.

USDCAD PRICE CHART: WEEKLY TIME FRAME (SEPTEMBER 16, 2018 TO MAY 21, 2019)

USDCAD Price Chart Ahead of Fed FOMC Minutes

Looking at USDCAD with a broader perspective, spot prices also face resistance from the 23.6 percent Fibonacci retracement level drawn from the respective low and high in October and December last year. Yet the currency pair has failed to hold its footing below the 38.2 percent Fib since spot prices reclaimed the 1.3330 level back in March.

Moreover, a tight coil has formed between bullish uptrend and bearish downtrend lines which supplements the recent consolidation in USDCAD around the 1.3400 handle. This area of confluence could be put to the test in the near future, however, as conflicting upside and downside risks begin to unfold.

While the removal of US tariffs on Canadian steel exports boosts bullish prospects for the loonie along with rising oil prices, USDCAD downside could be offset by a sharp rise in the greenback if a hawkish Fed is revealed in the FOMC minutes release due Wednesday at 18:00 GMT.

– Written by Rich Dvorak, Junior Analyst for DailyFX

– Follow @RichDvorakFX on Twitter

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|

0

Gold Prices Tests 2019 Lows, GBPUSD Recovers on EURGBP Drop

Hits: 13


MARKET DEVELOPMENT –Gold Prices Tests 2019 Lows, GBPUSD Recovers on EURGBP Drop

DailyFX Q2 2019 FX Trading Forecasts

GBP: The Pound has made a slight recovery from intra-day lows (1.2686) to reclaim the 1.27 handle as EURGBP pulls back from the 200DMA situated at 0.8792, which in turn could see the cross end its record win streak. However, the outlook remains soft for the Pound, given the continued turmoil in UK politics. Elsewhere, UK data surprised to the downside as the CBI reported that new orders had fallen to the lowest level since the October 2016 as UK manufacturers remain concerned over the ongoing Brexit uncertainty. UK inflation to be released tomorrow, although, data remains on the side-lines.

AUD: Gains in the Australian Dollar were faded after the RBA Governor explicitly stated that the central bank has an easing bias, something we have flagged for some time now (full story). Governor Lowe highlighted that lower rates would support employment and help lift inflation towards target, as a reminder, the RBA stated that a rate cut scenario would need to see inflation remain weak, while the unemployment rate would need to tick up, as such, with this being the case, a rate cut looks set to take place at the June 4th meeting. Alongside this, given the continued uncertainty regarding the trade war tensions between the US and China, the outlook remains soft for AUDJPY.

Gold: Equity markets are slightly firmer this morning after the US announced that they would provide a temporary ease on Huawei restrictions. Consequently, Gold prices have edged lower, having a made a technical break below trendline support from the 2018 low, which in turn could see a test of the 2019 low ($1266).

Source: DailyFX, Thomson Reuters

DailyFX Economic Calendar: – North American Releases

Gold Prices Tests 2019 Lows, GBPUSD Recovers on EURGBP Drop - US Market Open

IG Client Sentiment

Gold Prices Tests 2019 Lows, GBPUSD Recovers on EURGBP Drop - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. Gold Price Sell-Off Continues, Silver Price Hits a Six-Month Low” by Nick Cawley, Market Analyst
  2. AUDUSD Risks Return to Flash Crash Lows as RBA Commits to Rate Cut” by Justin McQueen, Market Analyst
  3. EURUSD, GBPUSD, USDJPY & Gold Price Levels in Play” by Paul Robinson, Currency Strategist
  4. Euro Price Slide Set to Continue as European Elections Draw Closer” by Martin Essex, MSTA, Analyst and Editor
  5. Using FX To Effectively Trade Global Market Themes at IG” by Tyler Yell, CMT , Forex Trading Instructor

— Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|

0

Market Sentiment Recovers on US Easing of Huawei Restrictions

Hits: 16


Market sentiment news and analysis:

  • The US has eased trade restrictions on Chinese technology company Huawei temporarily, boosting market confidence.
  • However, sentiment remains poor on fears that the US-China trade dispute could yet escalate further.

Market confidence lifted by US easing of curbs on Huawei

Trader sentiment has improved Tuesday on news that the US has granted Huawei a license to buy US goods until August 19 but confidence remains poor as the US-China trade dispute rumbles on.

In this webinar, I looked at the charts of the major currencies, stock markets and commodities, at the sentiment indicators likely to influence markets for the rest of the week and at the latest positioning data.

Resources to help you trade the forex markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

— Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|

0

Euro Price Slide Set to Continue as European Elections Draw Closer

Hits: 13


EUR price, news and analysis:

  • EURUSD is continuing the drift lower of the past week on concerns that the latest European Parliament elections will see a rise in populism and Euro-skepticism.
  • That’s bad news for the Euro, which could yet lose more ground against a backdrop of trade wars and Brexit.

Euro price weakness may persist

European Parliament elections take place this week, beginning Thursday and ending Sunday, with the results likely to confirm the rise of populism and Euro-skepticism. That could spell further losses for the Euro, which has already dropped to its lowest level since May 3 and has been easing for the past week.

EURUSD Price Chart, Hourly Timeframe (May 13-21, 2019)

Chart by IG (You can click on it for a larger image)

Click on this link for a preview of the main events in the Eurozone this week

And here for the technical outlook for the Euro

For traders, one caveat is that this expected move away from the EU’s mainstream political parties may be already priced in to the EURUSD exchange rate. A second is that price volatility remains low and the elections look unlikely to boost it.

However, investors will have time to analyze the election outcome thoroughly between the results Sunday and the opening of markets Monday – particularly necessary as the results will be clouded by national concerns in each EU country, with the debate centering on Brexit in the UK, for example. Still, looking further ahead, a good showing by far-right political parties will likely raise doubts again about the stability of the EU.

There could also be a power vacuum as a move away from center-right and center-left politicians leaves whichever party wins the most seats having to rely on resurgent Green parties for a majority.

From a long-term technical perspective, the downtrend that began eight months ago remains in place and a further decline to 1.10 looks possible. Sentiment data also point to a weaker EURUSD, with 59% of retail traders long and just 41% short – a bearish signal from a contrarian viewpoint.

Euro price outlook worsens as Italian politics move into focus

Resources to help you trade the forex markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

— Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|

0

AUDUSD Soars on Shock Election, Apple Shares Slump, Risk of S&P 500 Drop

Hits: 9


MARKET DEVELOPMENT – AUD Soars on Shock Election, Apple Shares Slump, Risk to S&P 500

DailyFX Q2 2019 FX Trading Forecasts

AUD: The Aussie outperforms following a shock election outcome, in which Prime Minister Scott Morrison secured re-election (full story). In reaction, the Aussie gapped higher at the Asia open, reclaiming the 0.69 handle against the greenback. However, as equity markets have headed lower throughout the European morning, risks are for gains to be faded. Alongside this, key headwinds in the form of trade war tensions and a potential RBA June rate cut are likely to limit upside. Reminder, RBA Governor Lowe due to speak tonight after RBA meeting minutes (calendar)

Crude Oil: Oil prices surged at the Asia open as Saudi Arabia signalled that cuts could be extended throughout the remainder of 2019 at the JMMC meeting, while President Trump had also stepped up his critical rhetoric towards Iran. Although, with equity prices beginning to push lower, oil prices have pared the majority of its initial gains.

Equities: US equity futures have headed lower amid the continued crackdown by the US on China’s Huawei, which in turn has chipmakers come under pressure, while Google also stated that they are to restrict the company’s use on android services. Elsewhere, Apple’s price target had been cut by HSBC to $174 (median street price target = $220), citing concerns over China, while tariff led price increases on Apple products could also have dire consequences on demand. Apple shares currently lower by 2.4% in pre-market.

Source: DailyFX, Thomson Reuters

DailyFX Economic Calendar: – North American Releases

AUDUSD Soars on Shock Election, Apple Shares Slump, Risk of S&P 500 Drop - US Market Open

IG Client Sentiment

AUDUSD Soars on Shock Election, Apple Shares Slump, Risk of S&P 500 Drop - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. Gold Price Sell-Off Continues, Silver Price Hits a Six-Month Low” by Nick Cawley, Market Analyst
  2. COT Report: Japanese Yen and Euro Shorts Collapse, USD Longs Reduced” by Justin McQueen, Market Analyst
  3. Crude Oil Price May Be Carving Out a Top” by Paul Robinson, Currency Strategist
  4. Using FX To Effectively Trade Global Market Themes at IG” by Tyler Yell, CMT , Forex Trading Instructor

— Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

http://platform.twitter.com/widgets.js



Source link

Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.


Top 10 problems you may need in life:

01. Espresso Machines review|
02. Gaming Keyboards review|
03. Gaming Headsets review|
04. Virtual Reality Headsets review|
05. Cordless Drills review|
06. Electric Keyboards review|
07. Gaming Mouse review|
08. Gaming Monitors review|
09. Gaming Laptops review|
10. WiFi Routers review|