Daily Market Analysis by ForexMart

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 08, 2017 10:31 am

June 8, 2017

Surge in Chinese Trades Amid Weakened Economic Growth

Reports indicating China is gaining momentum in the economy as both exports and imports rallied in May, denoting an improvement in the economy. Exports climbed to $191billion gained 8.7 pc while imports rose to $150.2 billion gained 14.8 pc. It exceeded the expectation of 7.2 pc and 8.3 pc for exports and imports respectively. On the other hand, the trade surplus grew $2 billion to $40.8 billion in April.

However, concern arises that it would be difficult for Beijing to sustain the current pace. Future trade data could hamper growth aiming to curb the large debt of the country. A sluggish credit growth amid weak economic activity in the succeeding quarters will affect progress, warned by an economist. Other data also reflects weakened growth with the ongoing weaker demand and surplus in industrial capacity because of debt-driven infrastructure.

Concerns about increasing debt levels prompted Moody’s agency to cut its Chian credit rating for the first time in almost 30 years. In 2016, its economy growth was at its weakest rate and it is anticipated that growth will further weaken this year.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jun 09, 2017 6:53 am


GBP/USD Technical Analysis: June 9, 2017

The British currency weakened throughout Thursday’s session because the Parliament election became the center of interest. As of this writing, the Conservative Party appeared to take a few seats, so expect that the market will start to solidify gradually. Moreover, the 1.29 handle down seems supportive and a rebound from the market is not a surprise at all.

The market are trailing within the uptrend channel but the result from the election is not yet released, therefore there is a tendency for it to change in haste. It further preferred to continue buying on dips as we go searching for the area above 1.3050 which is said to be resistive.

A break on top of it will move the market near 1.3450 region which could be the target in the longer-term. This will kept intact unless a massive state from the election came in. nevertheless, it does not necessarily mean that there is a simple way to move there, hence this might be the way towards a longer-term position. Having said that, buy on the dips will continue and lots of in and out trading will be recognized over the following weeks.

A breakdown beneath the 1.29 mark won’t indicates a selling position as there is much support on the diverging levels down through the 1.2750 range.

Lastly, the market contains an upward bias and the course will remain to be driven by headlines relative to what was discussed in the Brexit referendum. This could be a tough one and buyers could possibly take an upper hand.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jun 09, 2017 6:55 am


USD/CAD Fundamental Analysis: June 9, 2017

The events happened yesterday unexpectedly wrought a slight impact against the USD/CAD, as well as to other currency pairs. However, there are predictions that it would be an explosive day yesterday due to incidents lined up while traders work late at night to secure a safe position and to keep their trades well but everything turned out to be less impressive and unexciting.

The said events are as follows; the decision of ECB to hold its rates paired with the announcement on inflation targets and increasing growth outlook, though it is obviously has nothing to do with the pair. Next is the testimony of Comey after he accused US President Trump with lots of things.

These scenarios were unable to move the dollar and any movement only indicates an insignificant strengthening of the greens that lead the USDCAD near 1.35.

In relation to the Canadian dollar, BOC Governor Poloz delivered a speech expressing his delight about the current condition of their economy. He also stated that he was comfortable regarding the price trend in the housing industry. The neutral tone strike by Poloz reflected towards the commodity-linked pair which continuously trades in a steady and unspecified direction.

Later this day, the Canadian employment figures is anticipated to be release that would likely cause volatility. If the report showed a stronger result, it would help the pair to reach the lows of its tight range close to the 1.3450 level.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jun 09, 2017 8:42 am

EUR/USD Technical Analysis: June 9, 2017

The EURUSD drove downwards as the European Central Bank (ECB) decided to maintain the interest rates on a steady pace coupled with dropped easing bias. This further took a neutral position with regards the way they will see the monetary policy.

The schedule for quantitative easing remained unchanged while rates should be expected to retain its recent levels as reflected in the transcripts.

The pair moved near the support shown at 1.1220 mark that lies around the 10-day moving average which currently serves as the resistance in the near-term. Further resistance sits at 1.1285 region close to the weekly highs. An ascending sloping trendline is found at 1.1140 area. Meanwhile, the momentum turned towards the negative territory and the moving average convergence divergence (MACD) produced a crossover signal to sell prompted by the intersection of the spread under the 9-day moving average. The histogram shifted from positive en route the negative grounds and confirmed a sell signal.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jun 09, 2017 8:48 am


AUD/USD Technical Analysis: June 9, 2017

The Australian dollar against the U.S. dollar performed well during the Thursday session. It seems that the market will roll over from here. There is a descending triangle formed on the hourly chart. If the price breaks down, then the trend would go down towards 0.75 and below. This would attract buyers to return in the market.

Another possible option is a break over the 0.7560 region, this would induce the price to break in in the upper channel. Moreover, the price is trying to break as gold market has an effect on the Australian dollar while currently, the market is on the lie lows and quite inactive.

For long-term, the trend gives off a bullish tone that keeps the Aussie market to keep from falling apart anytime. The GDP data is also stronger than expected that supports the currency pair.

Traders who like to buy in lows have to be patient. The market will persist to have choppiness directed upward. One could opt to place orders slowly since there is a lot of noise found in the chart.

The copper market was seen to move in uphill during the day. It is important to the Australia as exporters throughout Asia which would most likely affect the long-term rates. Hence, it may not be wise to sell this pair for now.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jun 09, 2017 9:09 am


EUR/GBP Technical Analysis: June 9, 2017

Traders encountered high volatility during the Thursday session due to the major events that affected both currencies for the day. One is the U.K. Parliamentary election and the other is the ECB interest rate decision about to be discussed. Besides the decision alone, other comments during the meeting would be equally significant especially about the topics of quantitative easing.

Currently, it seems that the British pound is leading against the British pound which is not surprising because of the election and it looks like the Conservative is dominating the trend.

It seems that the market will continue to have high volatility as the market focuses on the headlines. With the ongoing Brexit, it is not surprising to have volatility in the market which will most likely continue to affect the pair every now and then. It might need a few days to soothe the market to manage real money in here. As of now, the trend is currently moving towards the 0.86 level for short-term.

It is too early to tell which the direction this pair would go and a blank guess could be disastrous as a single move is significant for a short period of time. Let us hope that the market will settle down come Monday trading session.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jun 09, 2017 9:22 am


GBP/JPY Technical Analysis: June 9, 2017

The British pound paired against the Japanese yen had a volatile session during the Thursday session. This is not surprising because of the U.K. parliamentary elections. Although, traders are not sure what is the general attitude of the market regarding Brexit leaving uncertainty in investors.

Towards the end of the day, the pair rallies forward with 61.8% Fibonacci retracement level close to the 142.75 handle. Low levels have been higher which could continue to go up. The 143 region is starting to be strongly resistive and if the market is successful in breaking this level, the price could move higher. As of now, the market is still in consolidation.

However, if the price fell down to the 142 handle, there are more buyers interested in this pair. If the market is successful to break out in the upper channel, it will suggest a “risk on/off” sentiment which is a common reaction here. Traders should be cautious to avoid losses since they could incur bigger losses if not careful. Same goes for the USD/JPY pair and position in smaller trades which is relevant for this pair.

Nevertheless, it is also a good move to buy the pair for long-term but still with some caution before posting large orders since the market is still unstable. It is safer to wait until next week or after the results of U.K. election.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jun 09, 2017 10:22 am


June 9, 2017

ECB not yet to Withdraw Stimulus Program

The European Central Bank decided to loosen its monetary policy on Thursday but indicated that it further needs some support from the central bank amid increasing growth.

Mario Draghi, ECB president, is very cautious in his announcement regarding the withdrawal stimulus.

During the meeting held on Thursday which is accompanied by 25 members of the council, the bank kept its interest rates and bond-purchase stimulus program steady.

The governing council settled small adjustments towards the 19 emerging countries that utilizes the European currency by stating that interest rates could probably move lower. While Draghi issued another significant change as he described that risk to growth is currently “broadly balanced”, the tweak was announced during the April wherein risk are said to "tilted to the downside."

Carsten Brzeski, analyst at ING-DiBa, allegorize the bank’s statement to a baby’s first step intended to taper the stimulus effort. The financial institution preserved its bond-buying program at 60 billion euros ($67 billion) each month which will last this year or longer.

Moreover, ECB officials were in a stew for the market’s response to the untimely notice that the stimulus will end as the rates will climb higher, undermining the effects.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jun 09, 2017 10:43 am


June 9, 2017

Limited Drop of Sterling in the Global Market

On Friday, the British pound slumped following vague results without a particular party that dominated that election. Hence, investors are trying to weigh on risks including both event in the United States and Europe. As a result, the cable dropped by 2 percent amid the political problem that could hamper the Brexit talks and causing more uncertainty which will begin in more than a week.



Yields on 10-year gilt dropped by 3 basis points to 1.00 percent while the the FTSE futures recovered as it gained 0.2 percent bringing hopes up to economic progress. The e-mini futures for the S&P 500 has a lesser impact as it increase by 0.1 percent.



The single currency slid overnight following the announcement of ECB forecast to ease inflation but did not talked to tune down the massive bond-buying campaign pushing bond yields to multi-month lows. It’s effect in the global investment market can not be defined as it represents just 2.5 percent of world GDP.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jun 09, 2017 10:52 am


June 9, 2017

Limited Drop of Sterling in the Global Market

On Friday, the British pound slumped following vague results without a particular party that dominated that election. Hence, investors are trying to weigh on risks including both event in the United States and Europe. As a result, the cable dropped by 2 percent amid the political problem that could hamper the Brexit talks and causing more uncertainty which will begin in more than a week.



Yields on 10-year gilt dropped by 3 basis points to 1.00 percent while the the FTSE futures recovered as it gained 0.2 percent bringing hopes up to economic progress. The e-mini futures for the S&P 500 has a lesser impact as it increase by 0.1 percent.



The single currency slid overnight following the announcement of ECB forecast to ease inflation but did not talked to tune down the massive bond-buying campaign pushing bond yields to multi-month lows. It’s effect in the global investment market can not be defined as it represents just 2.5 percent of world GDP.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 13, 2017 8:05 am

EUR/USD Technical Analysis: June 13, 2017

The European Central Bank decided to stabilize the apple cart and did not talk about the withdrawal of Quantitative Easing turning the focus towards the talks regarding Brexit and politics. Italian elections were delayed which helped yields from Italy to decline on the back of an extensive narrowing of spreads followed by the dovish remarks pronounced by M. Draghi. However, lots of political challenges remain in the future.

The anti-European forces appeared to be inactive while in Catalonia, Spain threatens the stability of the Spanish country due to the independence referendum planned for October 1.

The debt relief of Greece continue to hang in the Euro region and this is the expected major topic in the EU meeting scheduled on Thursday.

The EURUSD tried to move higher but failed to reacquire its previous resistance found at 1.1227 level close to the 10-day moving average.

The exchange rate indicates the second day of the Doji formation that further shows uncertainties where the close and open levels are in the same range.

Moreover, the pair seems to generate a  head and shoulder reversal pattern which starts to produce the right shoulder followed by the left and lastly the head which resistance region entered the 1.1285 area.

Prices in the previous weeks failed to break 1.1299 mark seen around the November 8 highs. The major’s near-term support holds 1.1109 near the lows of May 29.

The momentum became negative since the moving average convergence divergence (MACD) develops a sell signal to take a crossover. It emerged because the spread crosses underneath the 9-day exponential moving average. The histogram shifted to negative grounds from the positive territory establishing a sell signal. The index also prints in the read paired with a descending trajectory that points towards a lower rate of the EUR/USD.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 13, 2017 8:26 am


USD/CAD Technical Analysis: June 13, 2017

A negative sentiment presides the market especially for the Canadian dollar and U.S. dollar pair on Monday session. Although the Canadian dollar is gaining strength because of stronger-than-expected employment data last in the previous week. However, the market has to be mindful of the oil market which is not performing well. It is not far from happening that traders will sell this soon.

The price trend is near to the base of the consolidation area instead of being on top. It is highly possible for the trend to remain in consolidation as how it has been in the past few days. Higher than the 1.3550 region serves as a resistance level but it won’t take long before the market breaks it especially if the oil market spiraled down.

It might not be advisable to sell this pair unless the pair breaks lower than the said 1.3350 region which is strongly supportive, followed by a rally due to the oil market. However, this could not happen and will most likely climb higher instead. Although, we could not tell if this will stop and persist after the breakout.

There is high volatility in the market but it seems that the trend will not favor the buyers since there is strong support found below. Moreover, it won’t be too long when the oil market plunge down which continue to put pressure on the market.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 13, 2017 8:48 am


EUR/GBP Technical Analysis: June 13, 2017

The Euro against the British pound move sideways during the Monday session. It broke above the 0.88 handle as the market continues to sell off the currency. This is a significant move while it seems that the market is not ready to retreat. Pullbacks would then attract more buyers and the 0.88 region below continues to be supportive.

However, if the price breaks lower and the gap is filled, this could send the price lower as low as 0.8650 and lower. Some pullbacks would open buying opportunities indicating massive support below. There is still a possibility to move higher towards the 0.90 level which hints as a significant psychological level.

The British currency has depreciated which drags the pair more than the other. On the other hand, the Euro is steadily moving in the market. The impulsive action is most likely driven by the pound more than other aspects. The uncertainty persists in the market which entails the pair could climb higher.

The 0.90 region gives off a significant resistance and a break over this would provide more long-term opportunities. It may not be wise to sell this pair since there are other things to consider in selling off this pair. However, if the pair breaks in the base of the breakdown, this would significantly shift the movement which could induce selling and this is not gonna be good for the pair.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 13, 2017 8:54 am


EUR/USD Fundamental Analysis: June 13, 2017

The EURUSD lost its strength on Friday because of the news regarding the elections in Great Britain along with its unexpected results that prevailed over the headlines within that day which both brought an effect towards the single European currency.

As mentioned in the previous forecast, the elections will only be concerned by the United Kingdom but there is a tendency that the euro will also be affected since the election results can make an impact on the Brexit process and further negotiations.

The Conservatives were unsuccessful to gain the majority as opposed to the predictions which are an advantage to the side of the Eurozone, this caused them to get into a tighter spot contrarily to their desired position. With this, it is assured that the expected PM would become very weak as Theresa May or any other candidate is going to take the position for the negotiations together with the European leaders while the opportunity to change things is very limited.

Obviously, the EU leaders are eager to begin the discussion immediately. The EUR did not decline because of this as the 1.1200 level appeared to be a correction in the uptrend and not a change in any action.

This caused the pair to rebound through the support level 1.1165 and currently trailed over 1.12 as of this moment.

According to projections, the major will remain trading stronger in the near-term as the 1.13 serves as the ceiling while waiting for the FOMC this week.

There is no big news for today, either from EU or US, but consolidation should be anticipated.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 13, 2017 9:50 am




AUD/USD Technical Analysis: June 13, 2017

The Australian dollar against the U.S. dollar swayed sideways during Monday session. Buyers were able to reach the 0.7550 region or over although there is a bit of resistance. It will most likely climb higher since the price broke out towards the 0.76 level.

Some reversals could offer opportunities that give off volatility on the market in the next few sessions. The overall direction is upward as shown in the chart. The sideways is an indication of market hesitation and trying to settle their positions before making the next move in the upper channel.

Traders should monitor the gold market as there is an implication of it being supportive. If the gold market rallies, Australian dollar follows. Moreover, the Aussie gives off a risk appetite interest to traders while the gold market remains a safety asset. This would also support the Australian dollar.

The market is now reaching for 0.77 handle and above while the 0.80 level is the long-term target overall. The 0.75 region remains supportive and pullbacks open opportunities but send off bullish sentiment in the market. Yet, there will still be choppiness in the market. In trading this pair, patience is much needed to gain profits.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 13, 2017 10:56 am


June 13, 2017

Italy and Qatar to Continue Economic Ties

Countries, Italy and Qatar decided to maintain their deal regarding close integration on economy and finances. Even the decision of some Arab Countries along with Saudi Arabia and the United Arab Emirates is to break diplomatic, travel and trade agreement with Qatar.

The consensus was succeeded by a meeting between Italian Economy Minister Pier Carlo Padoan and Qatari Finance Minister Ali Sherif Al-Emadi held in Rome on Monday.

The two countries said in a joint statement that they discussed the ties in a very friendly atmosphere in accordance with its outstanding relationships on economics and politics

The visit of Al-Emadi in Italy is part of the leader’s European tours, hence he will also go to Berlin, London, Paris, and Washington.

The sovereign states of Arab which include Saudi and UAE ended its agreement with Qatar in the past week, they believe that Doha supports the finances of Iran together with other Islamist groups, but Doha refuted this accusation. While al-Elmadia stated earlier on Monday that his country is able to protect its economy against these charges.

In an interview with CNBC, he further mentioned that those countries that inflicted such sanction have the tendency to lose money due to the damage it wrought in the business sector of the region.

"A lot of people think we're the only ones to lose in this ... If we're going to lose a dollar, they will lose a dollar also," the leader added.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 13, 2017 11:08 am


June 13, 2017

Finland’s Export Data Shows Signs of Recovery

The Bank of Finland forecast data shows the growth of Finland’s economy as exports recuperated gains although it still needed reform to enhance development and stronger public finances. This growth is marked as a big progress following a decade state in hiatus state due to various economic and business problems. The GDP progress is anticipated to improve by 2.1 percent in 2017 which is higher than the former forecast of 1.6 percent in March. In the previous year, the GDP grew by 1.4 percent.


Amid the steady growth of exports, the economic growth still depends on the private consumption and investment and will further progress when the employment condition gets better to support an increase in purchasing power. Hence, the center-right government has lessened expenditures and eased labor laws yet the central bank sees the need other strategies to boost the current and future growth.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 15, 2017 4:23 am


USD/CAD Fundamental Analysis: June 14, 2017

The USD/CAD pair exhibited a very weak price action during the previous trading session as there were no fundamental releases which could help in propping up the status of the currency pair. However, the currency pair might be able to redeem itself within the day once the FOMC releases its rate announcement and statement later on, although this could possibly be more of a downward movement for the pair.

As of the moment, the USD/CAD pair could possibly continue its bearish price action at least until the medium term after the Bank of Canada declared that it will be making adjustments with regards to its overall outlook on the country’s economic and fiscal policies. Moreover, the central bank also hinted at a shift in its outlook with regards to its rates after the BoC decided to resume increasing its interest rates, which is a complete reversal of its current policy of cutting back on its rates. This recent move from the BoC shows the bank’s confidence with regards to the overall state of the Canadian economy. This is also a manifestation of the recent slew of Canadian economic data which all showed a marked improvement within the country’s economy. Although there were some concerns with regards to housing and banking, these were handled almost immediately and has enabled the country’s central bank to maintain its focus on the state of the economy. This has all contributed to the bullish undertone of the Canadian dollar and has caused the CAD to surge in value in spite of a recent drop in oil prices.

For today’s session, the market will be focusing on the FOMC rate announcement, and a hawkish statement from the Fed could cause the USD/CAD pair to correct towards 1.3300 points, although it is likely that this move would be a mere bounce and the currency pair could resume its downward price action with 1.3100 as its next short-term goal.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 15, 2017 4:33 am


GBP/USD Fundamental Analysis: June 14, 2017

The GBP/USD pair was finally able to make some significant headway amidst a highly volatile trading session yesterday after suffering from the adverse effects brought about by the results of the UK snap elections. As the Conservative bloc failed to get the number of majority they initially aimed for, this created uncertainties and risks within the market and has put the cable pair under severe downward pressure.

But yesterday’s session served as a breather for the GBP/USD pair as uncertainties within the country’s government formation are now starting to get sorted out, thus enabling the cable pair to push past towards 1.2700 points. The talks between the DUP and the Conservatives has so far produced positive results, and it seems now that this alliance will be maintained at least until the Conservatives need to work on several issues, including government formations. One such issue is the looming Brexit talks, with Theresa May staying defiant and believing that she will be able to push through with the Brexit talks in spite of political turmoil and calls for her resignation from her current post as UK Prime Minister. However, May still has to prepare herself as she will possible be faced by several hostile EU leaders who will want to take advantage of May’s position as well as the UK’s current international standing. In addition, Scotland is again on the brink of instigating another independence referendum, and all of these risks are expected to weigh on the sterling pound both in the medium term and long term. down

For today’s session, the market will be focusing on the Fed’s next move with regards to its planned interest rate hike. If the Fed pushes through with its rate hike, then the market will be looking at the FOMC statement next in order to look for clues with regards to the schedule of the next rate hike. If the statement comes out as bullish, then the dollar could further increase in value and the sterling pound might again drop and could possibly revert to its range lows.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 15, 2017 4:33 am


EUR/USD Fundamental Analysis: June 14, 2017

The EUR/USD pair merely continued its tight trading action during yesterday’s session as the market braces itself for the annou

ncement coming from the FOMC scheduled for today. The currency pair had initially attempted to move towards the bottom if its range but was immediately met with some large-scale buys in the 1.1160-1.1180 range, prompting the currency pair to revert to its original range.

During the previous session, the most important region for the pair’s bulls and bears was the 1.1200 trading range, with the currency pair managing to close down yesterday’s session at just over this particular range. However, this would all be futile if ever the Fed decides to implement another interest rate hike and release a very hawkish statement. As of the moment, the market has priced in a 90% possibility of rate hike, with the Fed neither confirming nor denying rumors of a possible interest rate hike. The market has taken this as a positive signal from the Fed as far as the rate hike is concerned, and this is one of the reasons why the EUR/USD pair is now trading within its range lows paired with somewhat tame bounces in between as the USD continues to hold on to its current value. Now that the rate hike is already priced in, the market will now be shifting its focus towards the FOMC statement, where the central bank is expected give clues with regards to the next rate hike. The next scheduled rate hike was initially scheduled to be implemented this coming September, however a series of negative data from the US economy has caused doubts on whether the central bank will be indeed pushing through with the next rate hike.

Aside from the FOMC rate announcement, the US economy will also be releasing its retail sales data and CPI data, both of which are expected to induce volatility levels into the EUR/USD pair. However, since the market will be focusing today on the rate announcement, a volatility surge is expected right after the release of the FOMC statement.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 15, 2017 5:13 am


June 14, 2017

Germany’s Economic Confidence Declined Unexpectedly

Financiers from Germany shows confidence towards the recovery of the Euro region, however, the UK economy is not lucky enough to gain a stronger stance. Since the economic condition of the Great Britain fell off this year, along with its prospects, based on the data from the ZEW think tank, as the European economic research institute conducted a poll for almost 200 investors.

The margin came higher for the UK compared with other economies mentioned in the survey, because German capitalists are disappointed with the latest economic status. It appeared that more than 63 percent of the respondents predicted that the situation will get even worse during the second half of 2017 which is the highest ratio versus other nations involved in the poll.

According to headline ZEQ indicator, the projections for the German economy had declined comparatively reaching 18.6. While the presumptions for the euro zone was raise to 37.7 versus other confidence indices like PMI and Ifo. The reading of the ZEW headline was keep restrained below the average level which started in 1991.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 15, 2017 5:15 am


June 14, 2017

Credit Losses Bound to Get Higher in the Industry

Credit card losses will most likely increase in volume in the United States and all over the industry especially to JPMorgan Chase & Co. as mentioned by Gordon Smith, the head of the bank’s consumer businesses during the conference held on Tuesday.

U.S. banks are being objective in their policy decision on whether to tighten credit policies and it is not far that most lenders within the financial sector are inclined to impose a stricter credit card lending standards instead of attenuating it.

JPMorgan earnings are seen to have increased in sales volume but declining credit trend that is still similar to other lending institutions. It is forecasted as shown in the Fitch ratings report that this will persist in the next few quarters because of the rising trend in loan growth pushed by lower credit rates. However, Smith said that there is no need to get distressed over this matter as this is already expected after some time of low loss rates in the past and is now approaching the end of the cycle.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 15, 2017 5:23 am


June 14, 2017

May Appoints Political Opponent as Junior Minister

UK Prime Minister Theresa May has recently appointed a leading anti-EU Tory campaigner as a junior Brexit minister following unrest within the PM’s team of officials assigned to work on the Brexit negotiations a mere week before the actual start of the said negotiations. The newly-appointed official was identified as Steve Baker, who used to be UK’s chairman of Conservatives. Baker has also led a group of Tory lawmakers which aims to hold the UK government against a complete separation from the European Union.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 15, 2017 7:46 am

USD/CAD Fundamental Analysis: June 15, 2017

The USD/CAD pair was expected to exhibit a wild price action during the previous session but it surprisingly became subdued and instead chose to consolidate within a very tight range. This could possibly be caused by the pair’s already very weak price action as it has been consistently dropping in value during the past few days, with the pair’’s traders choosing instead to focus on position shifts, profit-taking, and consolidation instead of taking more risks on the USD/CAD pair. This is why the pair’s whipsawing was still somewhat muted and has enabled the currency pair to remain within a tight trading range.

However, the currency pair has managed to sink past 1.3200 points and looked to test its support levels at 1.3160 for a short period following a series of disappointing economic readings from the US economy. Both the CPI data and the retail sales data from the US economy disappointed the market and this triggered a widespread dollar selling amid worries that the Fed might rethink its decision and refrain from raising rates until the market throws up some good data. This further pressured the pair to advance towards its support range although it was able to revert later in the evening as the Fed stuck to its original plan and implemented yet another rate hike. This triggered a slew of dollar buys and has helped the USD/CAD pair to shot past 1.3200, where it is currently situated as of the moment. The currency pair could possibly inch back towards 1.3300 points, however the currency pair might stay put at least for the time being since the Canadian economy continues to improve, with the BoC looking into a possible interest rate hike in the near future.

For today’s session, there are no major releases from the Canadian economy while the US will be releasing its unemployment claims data. The dominant market trend for today is the effect of the Fed announcement yesterday, which is expected to at least keep the USD/CAD pair in line for a few more days.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 15, 2017 8:03 am


GBP/USD Fundamental Analysis: June 15, 2017

The GBP/USD pair remains volatile as of the moment, with the pair’s volatility mostly stemming from events happening within the US and the UK economy as well. This is undeniably going to be a very challenging time for long traders, although volatility-loving traders would see this as a very profitable period as far as the cable pair is concerned.

During the previous session, the GBP/USD pair was able to whipsaw during the first few hours as the market initially expected a possible UK government formation although this was quickly dissipated for at least a week. In spite of an official statement coming from the UK government, the market believes that this is mostly to enable the British Parliament to invite more partners and to settle any possible conflicts between the Conservatives and the DUP. Both parties seem to have reached a common ground, and while this will serve as a breather for the sterling pound, it has yet to be seen how long this calm before the storm would last and what other factors would influence the movement of the pair. Moreover, both EU and UK officials have announced that they are ready to push through with the Brexit negotiations which are set to commence in a few days’ time. The retail sales data and the CPI data from the US economy on the other hand disappointed market players, triggering a dollar selloff following speculations that the Fed might choose to step back and re-think its stance on interest rates. This caused the GBP/USD pair to advance towards the 1.2800 trading range, although this took effect for only a few hours as the FOMC announcement came in, with the central bank announcing an interest rate hike and chose to shrug off the recent negative economic readings. This enabled the dollar to regain its losses and the GBP/USD pair is now comfortably trading at just over 1.2750 points.

For today’s trading session, the UK economy will be releasing its retail sales data, while the MPC will be releasing its rate announcement and monetary policy during the latter half of today’s session. These are all expected to increase market volatility, although it remains to be seen how the MPC will respond to the current political landscape. The MPC could possibly maintain its neutrality although this might not have an effect on the cable pair as it will continue its weak price action at least in the short term.

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