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Market Outlook by Capital Street FX

Dive deeper into the fundamentals of the market. If you come across any major Forex related news item or wish to share your opinions and ideas related to the local or global economy, this forum is the place for you. Share the news and views about Fundamental Analysis and economic events here.
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Wed Jun 21, 2017 5:46 pm

Larger-Than-Expected Decline in U.S. Supplies Fails To Support WTI Crude Futures

U.S. crude futures price reversed lower after having briefly spiked following U.S. government data that showed domestic crude supplies fell more than expected.

August West Texas Intermediate crude lost around 0.1 percent in North American trading session after having jumped to as high as $44.170 per barrel. Data released by the U.S. Energy Information Administration on Wednesday showed U.S. crude stockpiles fell by 2.5 million barrels for the week ended June 16, topping analysts’ expectation calling for a decline of 2 million barrels.

However, EIA’s data failed to support the price due to rising concerns over a renewed glut in global supply. U.S. explorers have been boosted the number of rigs drilling for oil. Indeed, the U.S. oil rig count was reported to continue to rise, up by 6 last week.

The rise extended the upward rally to a 22nd in a row, adding concerns over high global supplies despite an OPEC-led initiative to cut production to tighten the market.

Trade suggestion

Sell Stop at 43.300, Take profit at 42.700, Stop loss at 43.600

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Shares of Adobe Systems Jump to All-time Record High After Upbeat Q2 Earnings Report

Shares of Adobe Systems Inc. jumped more than 4 percent ahead of the opening bell on Wednesday after the company reported last quarter’s earnings results that beat expectation late Tuesday.

Shares of the American multinational computer software company jumped to all-time record high of $147.00 per shares in pre-market trading on Wednesday after having closed the regular session with a 0.4% increase at $140.91 on Tuesday.

Adobe Systems reported earnings per share (EPS) of $1.02 on sales of $1.77 billion for its fiscal second quarter, which was above the Wall Street consensus estimate of $0.95 for EPS and of $1.73 billion for sales. Revenues rose 26.7% from the same quarter last year.

The San Jose, CA-based software giant claimed net income of $374.4 million, or 75 cents a share for the last quarter. Adobe forecast EPS of around $1.00 and revenues of $1.815 for the current quarter, which topped Wall Street estimates of $0.97 for Q3 EPS and $1.8 billion for revenues.

Trade suggestion

Buy Stop at 147.000, Take profit at 148.000, Stop loss at 146.500

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


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GBP/USD signal by Capital Street FX

From GMT 14:50 21/06/2017
Till GMT 21:00 21/06/2017

Sell at 1.26600
Take profit at 1.26000
Stop loss at 1.26900
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Thu Jun 22, 2017 7:08 pm

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Daily Report on June 22, 2017



Asian shares advanced on Thursday after a Wednesday’s declines. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 percent. Australia’s S&P/ASX 200 Index jumped 0.6 percent. The index tumbled 1.6 percent on Wednesday to erase its gain for the year. While Japan’s Topix was little changed, Japan's Nikkei fell 0.1 percent.

South Korea’s Kospi index climbed 0.2 percent. The Hong Kong’s Hang Seng index and the Shanghai Composite Index both edged higher, adding 0.2 percent and 0.7 percent, respectively. The CSI 300 Index, which includes 222 China A-share stocks slated to be added into the MSCI index from May 2018, extended gains after jumping 1.2 percent on Wednesday to the highest close since December 2015.

The Reserve Bank of New Zealand on Thursday decided to leave interest rates at a record low 1.75 percent as widely expected. The New Zealand dollar edged higher after Graeme Wheeler, the central bank’s governor, said that headline inflation was expected to rise to the midpoint of the bank’s target band in the medium term, given wage and non-tradable inflation that may increase gradually.

Crude oil futures prices struggled for direction on Thursday. West Texas oil shed 0.2 percent to $42.44 a barrel after climbing as much as 0.5 percent earlier. Brent crude plunged below $45 per barrel. Both international benchmarks lost more than 2.3 percent in the previous session.



Technicals

NZDUSD



NZDUSD fluctuated widely in early trade on Thursday and has broken out of a shrinking trading range with lower highs and higher lows formed along the way. The price action also crossed over two MAs from below, suggesting an emerging bullish force in the market. RSI is edging higher which signals upcoming upbeat moves.

Trade suggestion

Buy Stop at 0.72570, Take profit at 0.72970, Stop loss at 0.72370



EURGBP



EURGBP has been supported by two moving averages that are lingering below the price action. The short-term MA20 has penetrated the long-term MA50 from below, which indicates a strengthening uptrend. Two indices which are RSI and ADX are rising, signaling further up moves.

Trade suggestion

Buy Stop at 0.88200, Take profit at 0.88600, Stop loss at 0.88000



BRENT


Brent crude price has been under downward pressure exerted from two MAs, which are hanging above the price action, since the pair fell below these two stances on May 25th. The price entered a period of correction after previous sharp down moves which sent the market into the oversold zone. With sellers dominating the market, Brent crude price is expected to test a low at 43.550 – the lowest level since November 14th, 2016.

Trade suggestion

Sell Stop at 44.550, Take profit at 43.550, Stop loss at 45.000



NASDAQ 100


U.S. NASDAQ 100 index extended gains after having penetrated two MAs from below, sustaining its bullish momentum. The stock benchmark index is struggling at a significant resistance at 5800.00 – where it fell into a consolidation three weeks ago. Both ADX and RSI are on a rise, not to mention a widening gap between +DI and –DI lines, signaling further advances.

Trade suggestion

Buy Stop at 5800.00, Take profit at 5840.00, Stop loss at 5780.00
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Thu Jun 22, 2017 7:14 pm

Canadian Dollar Rallies Verus the Greenback after April Retail Sales Beat Forecast

The Canadian dollar rallied against its American counterpart in North American trading on Thursday after a report showed retail sales in the country grew at a faster pace than expected in April.

The currency pair USDCAD dropped more than 0.8 percent to trade around C$1.320 per dollar, reversing lower after heading upwards for three days in a row. The loonie jumped sharply higher after Statistics Canada on Thursday reported that retail sales rose 0.8 per cent in April compared to the previous month. The result topped analysts’ expectations for a 0.2 percent gain on a monthly basis and also beat the 0.5 per cent advance recorded in March.

Core retail sales, which exclude auto and car parts related sales, were reported to soared 1.5 percent during the period. Upbeat April’s reading not only marked a reversal into an uptrend after a drop of 0.1 percent in March but also helped bolster optimism over the economy and strengthen the case of the Bank of Canada raising interest rates.

Trade suggestion

Sell Stop at 1.32200, Take profit at 1.32700, Stop loss at 1.32400

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


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Shares of Oracle Take Off 10% After Upbeat Fiscal Q4 Earnings Report and Rosy Outlook for 2018

Shares of Oracle Corp. jumped sharply more than 10 percent in after-hours trading on Wednesday after the Redwood Shores, California-based company reported its fiscal fourth-quarter earnings that beat expectations.

For the final quarter in its 2017 fiscal year, the computer technology corporation posted net income of $3.23 billion, or 76 cents a share. Adjusted for one-time items, the software giant reported profit of 89 cents a share on sales of $10.89 billion, which topped analysts’ forecast for earnings of 78 cents a share on revenue of $10.46 billion.

Shares of Oracle soared 10.3 percent to trade at $51.10 per share after closing the regular trading session 1.07 percent higher. After two years witnessing declines in profit and revenue, Oracle posted full-year revenue growth of 1.8% and profit growth of 4.9%.

Growth in the current fiscal quarter, which began June 1, is anticipated to jump even more which may boost full-year sales to growth at the pace from 4% to 6%.
Trade suggestion

Buy Stop at 51.10, Take profit at 52.00, Stop loss at 50.60

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


**********************************************

CAD/JPY

FromGMT 16:20 22/06/2017
TillGMT 21:00 22/06/2017
Buy 84.200
Buy at 84.200
Take profit at 84.600
Stop loss at 84.000
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Posts: 2146
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Fri Jun 23, 2017 5:02 pm

Daily Report on June 23, 2017



Asian shares were flat on Friday after U.S. stocks closed mixed on yesterday’s session. A surge came to health care stocks on Wall Street as investors were waiting for the unveiling of Senate’s health care bill, which aims to repeal and replace Obamacare.​ At the close in NYSE,​ while the Dow Jones Industrial Average and the S&P 500 index fell around 0.05%, the Nasdaq Composite closed​ up 0.04%.

In Asian trading session, the MSCI's broadest index of Asia-Pacific shares outside Japan was flat but looked set for a weekly gain of 0.4 percent. Australia’s S&P/ASX 200 Index and South Korea’s Kospi index were both also flat in the morning session while​ Japan’s Topix fell less than 0.1 percent. By contrast, the Hang Seng China Enterprises Index of mainland firms trading in Hong Kong​ and the Hang Seng Index added​ 0.6 percent​ and​ 0.2 percent,​ respectively.

U.S. Senate Republicans on Thursday unveiled a 142-page proposal which aims to roll back former President Barack Obama's signature healthcare law by scaling back aid to the poor and killing a tax on the wealthy. While Democrats are united in opposition, four conservative lawmakers said they could not support the Obamacare replacement bill in its current form.

Elsewhere, according to the Markit,​ Japanese manufacturing activity slowed​ in June due to the fact that​ new orders grew at the slowest pace in seven months. The Markit/Nikkei Flash Japan Manufacturing Purchasing Managers Index (PMI) was reported to drop to 52.0 in June from a final 53.1 in May. Although the index remained above 50, which indicates an expansion, for the 10th consecutive month, a weak figure showed a sign of a slight weakening in domestic demand.



Technicals

GBPAUD



As can be seen from the price chart, with the support from two MAs which are moving below the price action, the pair GBPAUD has escaped from a slopping downward trading range. The pair broke out of the upper boundary from below and is heading towards a resistance at 1.68700. Further advances are expected as RSI is pointing upward, indicating a dominating bull in the market.

Trade suggestion

Buy Stop at​ 1.68300, Take profit at​ 1.68700, Stop loss at​ 1.68100



USDCHF


USDCHF has not only fallen below the long-term MA50 but also broken out of an upward slopping trading range which tracks higher highs and higher lows. The breakout signals a reversal into a downtrend. Although ADX is rising while RSI is heading lower, indicating a strengthening bearish force in the market, a firm support at 0.9700 is within the sight.

Trade suggestion

Sell​ Stop at​ 0.97000, Take profit at​ 0.96700, Stop loss at​ 0.97150



SILVER


Silver continued to extend its upbeat moves​ after breaking out a period of moving sideways around a significant level at 61.8% Fibonacci level. The metal has penetrated the short-term MA20 with the support from the long-term MA50. RSI is edging higher. Silver is expected to test a resistance at 16.800.

Trade suggestion

Buy Stop at​ 16.650, Take profit at​ 16.800, Stop loss at​ 16.580



FTSE 100


U.K. FTSE 100 index has been tracing a downtrend after reversing lower from a strong resistance at 7545.00. In general, the stock benchmark index has been trapped in a trading range between 7390.00 and​ 7545.00. Under downward pressure from two MAs that are hanging above the price action, the index may retest the lower boundary.

Trade suggestion

Sell​ Stop at​ 7420.00, Take profit at​ 7390.00, Stop loss at​ 7435.00

Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Fri Jun 23, 2017 5:12 pm

Loonie Holds on Gains Versus Dollar As Oil Rebounds From 10-month Lows


Canadian dollar continued to gain ground versus its American counterpart on Friday after having surged sharply in the previous session. While the greenback dipped to a four-day low against major currencies, the commodity-linked currency, the loonie, held on gains as crude price rebounded.

The pair USDCAD dipped 0.1 percent to trade around 1.3222 in the last session of the week after losing 0.75 percent on Thursday, paring most of its weekly gain.

The U.S. dollar remained weak against most of its rivals ahead of a handful of Fed policymakers that are scheduled to make public appearances later in the day. St. Louis Fed President James Bullard, Cleveland Fed President Loretta Mester and Fed Governor Powell are scheduled to deliver comments on Friday with investors awaiting clues on the likelihood of higher interest rates in the coming months.

The dollar index – which measures the greenback against a basket of six major currencies – lost more than 0.2 percent to trade around 97.33 in European trading session. Next week, U.S. calendar features data on June consumer confidence indicator, pending home sales, crude oil inventories, revised first quarter GDP and the PCE price index.

Meanwhile, crude oil futures prices scaled back from 10-month lows which they hit on Wednesday, adding strength to the Canadian dollar which has already been spurred by upbeat data on April retail sales. Brent crude futures added 0.51 percent while U.S. West Texas Intermediate (WTI) crude futures jumped 0.54 percent, at $42.80 per barrel.

Trade suggestion

Sell Stop at 1.32100, Take profit at 1.32700, Stop loss at 1.32300

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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Fri Jun 23, 2017 5:20 pm

GBP/USD signal by Capital Street FX

From GMT 08:20 23/06/2017
Till GMT 21:00 23/06/2017
Buy at 1.27400
Take profit at 1.28000
Stop loss at 1.27100
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Posts: 2146
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Mon Jun 26, 2017 6:38 pm

Daily Report on June 26, 2017



Asian shares advanced on Monday thanks to the fact ​ that technology stocks continued to edge higher while oil climbed for a third straight day in a row after rebounding from a bear market last week. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 percent with technology shares experiencing the biggest advance in the index.

While Japan's Nikkei index and Topix index both​ rose 0.1 percent, South Korea’s Kospi jumped 0.4 percent and Australia’s S&P/ASX 200 Index climbed less than 0.1 percent. Hong Kong’s Hang Seng Index​ was​ also​ on a rise, jumping 0.4 percent. However, Hang Seng China Enterprises Index and Shanghai Composite Index climbed even more, gaining 0.7 percent and 0.5 percent, respectively.

Markets in India, Malaysia, Indonesia, Philippines, Singapore and Bangladesh are closed​ on​ Monday for​ holidays to celebrate the end of Ramadan.

The U.S. dollar remained weak against its major peers on Monday, weighed​ down by fading expectations for the Federal Reserve to raise interest rates higher in the second half of this year.​ The U.S. dollar index, which tracks the strength of the greenback against a basket of six major currencies, was a fraction lower on Monday after having shed 0.4% in the previous session.

Crude oil futures prices jumped more than 1 percent in early trade as investors covered short positions after oil dipped into the bear market last week. While Brent crude futures added 1.1 percent to trade at $46.04 per barrel, U.S. West Texas Intermediate (WTI) crude futures gained 1.0 percent, at $43.45 per barrel.​

However, concerns over a global supply glut will persist due to another rise in U.S. drilling activity. According to data from energy services firm Baker Hughes Inc. late Friday, U.S. energy firms added 11 oil rigs in the week to June 23, bringing the total count up to 758, the most since April 2014.



Technicals​

GBPUSD



GBPUSD fell into a consolidation after a small gap up on Monday. The currency pair sustained its bullish momentum to trade above a couple of MAs which it crossed​ over last Friday. Although ADX retreated, RSI is still at high level, indicating a dominating bull in the market. A resistance at 1.28000 is expected to be tested.

Trade suggestion

Buy Stop at​ 1.27500, Take profit at​ 1.28000, Stop loss at​ 1.27300



GOLD


Gold reversed lower from as high as $1258.00 an ounce – a strong resistance at which the precious metal had to retreat on June 23rd. The price has also dropped below both a firm support at 23.6% Fibonacci level and a dynamic support at the short-term MA20. Gold is struggling at the long-term MA50. However, further declines are expected as RSI has edged down to as low as 45.19 while ADX is heading higher with a widening gap between the –DI and +DI lines.​

Trade suggestion

Sell​ Stop at​ 1253.00, Take profit at​ 1248.00, Stop loss at​ 1255.00



Natural Gas



Natural gas futures prices witnessed a sharp gap up on Monday which brought the price to the highest level since mid-June. The price action has also broken out of not only a period of moving sideways above a support at 2.8830 but also a couple of MAs. Both RSI and ADX are rising, signaling further advances. A resistance at 38.2% Fibonacci retracement is within the sight.

Trade suggestion

Buy Stop at​ 2.9950, Take profit at​ 3.0550, Stop loss at​ 2.9650



NASDAQ 100 Index



U.S. NASDAQ index has surpassed a firm resistance at 5800.00. This level not only forced the price to reverse lower on June 22nd​ but also pushed the index into a consolidation in late May. With support from two MAs which are lingering below the price action, the stock index is expected to edge higher. Rising ADX and RSI indices are confirming the uptrend.

Trade suggestion

Buy Stop at​ 5820.00, Take profit at​ 5880.00, Stop loss at​ 5790.00
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Mon Jun 26, 2017 6:49 pm

FTSE 100 Index Soars Thanks to A Rebound in Oil Prices and Weak Sterling


U.K. shares jumped steeply on Monday on the back of a rebound in oil prices which boosted stocks of energy companies and mining companies higher while British Pound reversed lower against most of its peers.

The FTSE 100 index added more than 0.6 percent on the first trading session of the week to trade around 7475.00 after having closed at its lowest level since June 15 on Friday.

Shares of energy companies led the overall performance as crude oil prices continued to rebound after a recent selloff. Crude oil futures benchmarks added more than 1 percent, spurring gains in shares of Royal Dutch Shell PLC and BP., which gained 0.5% each.

Shares of mining companies also traded in positive territory. Indeed, equities of Glencore PLC soared 1.07% while those of Rio Tinto PLC and BHP Billiton PLC jumped 0.84% and 1.01%, respectively.

Meanwhile, Sterling lost nearly 0.1 percent after having climbed to one-week high in early trade. According to market sources, investors were waiting for the meeting between the leader of Northern Ireland’s Democratic Unionist Party (DUP), Arlene Foster, and Theresa May, which is expected to help the Prime Minister to form a government with the support of the DUP.

Trade suggestion

Buy Stop at 7475.00, Take profit at 7530.00, Stop loss at 7450.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!



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EUR/NZD

From GMT 15:50 26/06/2017
Till GMT 21:00 26/06/2017
Sell at 1.53250
Take profit at 1.52200
Stop loss at 1.53750

**********************************

NZD/JPY

From GMT 16:40 26/06/2017
Till GMT 21:00 26/06/2017
Buy at 81.500
Take profit at 81.900
Stop loss at 81.300
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Posts: 2146
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Tue Jun 27, 2017 6:57 pm


Daily Report on June 27, 2017




Asian shares were mostly higher on Tuesday with Japanese stocks spurred by a weaker yen. MSCI's broadest index of Asia-Pacific shares outside Japan stood little changed but Japanese stocks edged towards two-year highs on Tuesday. While Japan’s Topix was up for a third day, Japan's benchmark Nikkei added 0.3 percent as the yen held on losses versus the U.S. dollar.

With exporters benefiting from dollar strength, Japan’s Topix climbed 0.5 percent, poised for the highest closing level since August 2015. Singapore’s Straits Times Index jumped 0.4 percent and South Korea’s Kospi gained 0.3 percent. Hong Kong’s Hang Seng was also on a rise, adding 0.1 percent. By contrast, Australia’s S&P/ASX 200 Index slipped 0.1 percent and the Shanghai Composite Index retreated 0.1 percent.

Crude oil futures extended gains to a fourth consecutive session on Tuesday. Indeed, while U.S. West Texas Intermediate (WTI) crude futures edged 0.3 percent higher to trade at $43.50 per barrel, Brent crude futures also advanced 0.3 percent to trade around $45.97 per barrel in Asian trading session.

Later in the day, Federal Reserve Chair Janet Yellen is scheduled to make public appearance at the British Academy's 2017 President's Lecture in London while the European Central Bank’s forum will continue in Portugal. Clues on changes in policies of major central banks are highly awaited by investors.



Technicals

AUDJPY



Australian dollar extended its rally versus the Japanese Yen to a third trading day in a row. Recent up moves not only brought the pair above the 23.6% Fibonacci retracement but also sent the price to a two-and-a-half-month high at 85.050 logged on June 20th. Both RSI and ADX indices are witnessing sharp up moves, indicating a strong bullish momentum in the market.

Trade suggestion

Buy Stop at 85.050, Take profit at 85.500, Stop loss at 84.800



NZDUSD



As supported by a couple of MAs which are moving below the price action, the pair NZDUSD continued to trace an uptrend which has been dominating the market for four trading sessions in a row. The pair retested a high at 0.73050 and is likely to soar to the highest level since February 07th with both RSI and ADX indices on a rise.

Trade suggestion

Buy Stop at 0.73100, Take profit at 0.73500, Stop loss at 0.72900



Natural Gas


After a wide gap up in early trade on Monday, natural gas price fell into a correction but soon sustained its bullish momentum to jump to as high as 38.2% Fibonacci retracement and send the market into the overbought. This level proved to be a firm resistance where the price had to reverse lower. However, the price is expected to edge higher to test another firm resistance at 3.0800.

Trade suggestion

Buy Stop at 3.0400, Take profit at 3.0800, Stop loss at 3.0200



COPPER


As can be seen from the price chart, copper has been trading sideways as the price fell into a consolidation after a sharp rise which helped the metal to test a significant level at 23.6% Fib. The price, however, has still been supported by the short-term MA20 and is anticipated to test the 23.6% Fib level again.

Trade suggestion

Buy Stop at 1.6200, Take profit at 1.6500, Stop loss at 1.6000



DAX 30 Index


Germany’s DAX 30 index once again had to retreat from a firm resistance at 12840.00 and is struggling with a couple of MAs. RSI index has fallen below 50, suggesting that the market has entered the bearish territory. Further declines may cause the stock benchmark index to retest the lower boundary.

Trade suggestion

Sell Stop at 12750.00, Take profit at 12700.00, Stop loss at 12775.00


******************************************

Canadian Dollar Hits Two-month Highs Versus the Greenback as Crude Oil Jumps

Canadian dollar shot versus its American counterpart on Tuesday amidst rising crude oil prices while the greenback fell broadly against most of its peers, especially the Euro.

The commodity-linked currency Canadian dollar jumped to a two-week high at C$1.31850 per dollar, adding more than 0.4 percent on Tuesday as crude oil futures prices were on track for its fourth gain in a row. Indeed, while August West Texas Intermediate crude soared 2.3 percent, the Brent oil for August delivery climbed 2.6 percent in North American trading session.

The advance came on the back of forecasts anticipating that U.S. crude supplies would witness a weekly decline due to weather factors. The American Petroleum Institute is due to release its estimate for U.S. inventories later in the day while the U.S. Energy Information Administration is scheduled to publish the official data on Wednesday.

While the Loonie was supported by gains in crude oil prices, the dollar lost ground against most of its rivals. The Dollar Index, which measures of the strength of the greenback against a basket of six major rivals, shed more than 0.6% with the euro holding the largest weighting in the gauge.

Trade suggestion

Sell Stop at 1.31800, Take profit at 1.31400, Stop loss at 1.32000

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


***************************************************

Euro Jumps to Two-week Highs Versus Dollar Following Draghi’s Speech

The Euro experienced a sharp rise versus its American counterpart on Tuesday after European Central Bank President Mario Draghi claimed that growth is above trend and well distributed across the euro area.

The currency pair EURUSD jumped steeply more than 0.6 percent on Tuesday to reach a high of 1.12500 – the highest level since June 14th as the Euro was pushed higher by Draghi’s speech.

Speaking at the ECB’s central banking forum in Portugal, the ECB President argued that the central bank’s stimulus policies with negative interest rates had helped create jobs and reduce inequality in the euro zone, especially in Southern European countries where youth unemployment rates reach up to 45%.

Draghi also showed optimism over the euro zone’s economy, saying that there are clear signs of a “strengthening and broadening” recovery and those deflationary factors, which were weighing on the path of inflation, will soon be replaced by inflationary ones.

Later in the day, Federal Reserve Chair Janet Yellen is scheduled to make public appearance at the British Academy’s 2017 President’s Lecture in London. Traders will be looking for clues on changes in policy of the U.S. central bank given Yellen’s opinion on the U.S. economy after a recent batch of weak economic reports.

Besides Fed Chair Yellen, a pair of Fed policymakers are due to make public appearances on Tuesday which are Philadelphia Fed President Patrick Harker and Minneapolis Fed Chief Neel Kashkari.

Trade suggestion

Buy Stop at 1.12500, Take profit at 1.12900, Stop loss at 1.12300

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!

*******************************************

GBP/JPY
FromGMT 14:35 27/06/2017
TillGMT 21:00 27/06/2017
Buy 143.100
Buy at 143.100
Take profit at 143.900
Stop loss at 142.700
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Wed Jun 28, 2017 6:00 pm

Daily Report on June 28, 2017



Asian shares were broadly lower on Wednesday, weighed down by losses in technology stocks. A slump in U.S. equities extended in Asian trading session, sending the MSCI's broadest index of Asia-Pacific shares outside Japan down 0.4 percent. Japan's Nikkei share average slipped 0.3 percent.

On Tuesday, the S&P 500 Index shed 0.8 percent - the most since May 17 while the NASDAQ Composite index lost 1.61% and the Dow Jones Industrial Average plunged by 0.46%. Shares of Alphabet were among top losers, shedding more than 2% after Google had been fined a record $2.7 billion by the EU for having violated antitrust rules. Shares of Facebook, Netflix, and Amazon closed more than 1.5% lower.

Meanwhile, the dollar lost ground versus most of its rivals amidst rising concerns over Trump administration following through with tax cuts and fiscal stimulus steps after the healthcare bill faced resistance from some of Republican senators and failed to be passed on Tuesday. The dollar index, which measures the greenback against a basket of six major currencies, lost more than 0.1 percent at 96.35, after shedding about 1 percent on Tuesday.

Crude oil futures prices extended their upward rally to a fifth session in a row, reversing higher from losses in early trade which came after a report by the American Petroleum Institute. The data which was released on Tuesday showed that U.S. crude inventories rose by 851,000 barrels in the week to June 23 to 509.5 million. By contrast, analysts expected a decrease of 2.6 million barrels.



Technicals

USDCHF




Under downward pressure from two MAs which are hanging above the price action, the pair USDCHF nose-dived on Tuesday and extended its down moves on Wednesday. The pair did not only break a firm support at 0.96700 but also fell below the seven-month lows at 0.96128 logged early June. Further declines are expected with a surging ADX index and RSI index plunging into the oversold zone.

Trade suggestion

Sell Stop at 0.96000, Take profit at 0.95500, Stop loss at 0.96200



EURGBP



The pair EURGBP has been tracing an uptrend with the support from both long-term MA50 and short-term MA20 which are lingering below the price action. The pair is facing a strong resistance at 0.88600 where it had to give up its bull run to reverse lower on June 12th. However, this stance is expected to be crossed over as buyers are dominating in the market, as indicated by rising ADX and RSI indices.

Trade suggestion

Buy Stop at 0.88600, Take profit at 0.89000, Stop loss at 0.88400



EURJPY




Euro jumped to the highest level since early April, 2016 after having broken out of a slopping downward trading range and crossed over a significant level at 50.0% Fibonacci retracement. The pair is struggling at a resistance at 127.300 after sending the market into the overbought zone. Nonetheless, the uptrend is anticipated to be extended, as can be seen in the ADX chart, the gap between +DI and –DI lines is widening.

Trade suggestion

Buy Stop at 127.400, Take profit at 128.200, Stop loss at 127.000



SP500



Sp500 index fell out of an uptrend on Tuesday when it broke out of an upward trend line which connects higher lows. The U.S. stock benchmark index dropped below a couple of MAs and fell to as low as 2420.00 – a firm support that has forced the index to reverse higher three times since June 09th. In the event of continual downtrend, another support at 2405.00 is within the sight.

Trade suggestion

Sell Stop at 2418.00, Take profit at 2405.00, Stop loss at 1225.00



DAX



Germany’s DAX 30 suffered a sharp daily loss on Tuesday. Steep down moves liberated the price action out of a slopping upward trading range which contained higher highs and higher lows. The index’s price action broke the lower boundary from below and is heading towards a support at 12500.00. While RSI is pointing downwards, ADX index is edging higher, indicating a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 12590.00, Take profit at 12500.00, Stop loss at 12630.00



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WTI Crude Oil Extends the Upward Rally to A Fifth Session Following EIA Data

U.S. crude oil prices extended their upward rally to a fifth session in a row on Wednesday with advances coming after a weekly report that showed U.S. domestic crude supplies rose less than previously reported by the American Petroleum Institute.

U.S. West Texas Intermediate crude for August delivery jumped more than 0.8 percent to trade around $44.60 per barrel on Wednesday after the U.S. Energy Information Administration published its official data that pointed to a rise of 100,000 barrels in U.S. crude inventories for the week ended June 23.

Although the result defied forecasts for a decline of 3.25 million barrels, it came in well below the increase of 851,000 barrels reported by the American Petroleum Institute on Tuesday.

Trade suggestion

Buy Stop at 44.60, Take profit at 45.60, Stop loss at 44.10

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***************************************

Gold Rallies For A The Second Day Amidst A Slump in Stock Markets While Dollar Remains Weak

Gold futures prices jumped a the second day on Wednesday amidst selloff in equity markets while the dollar remained weak against most of its peers after U.S. Senate Majority Leader Mitch McConnell delayed voting on a bill to repeal and replace Obamacare.

Gold for August delivery added more than 0.5 percent to trade around $1,252.85 an ounce in Asian trading session as investors rushed into safe-assets after technology and health-care shares weighed down the overall performance in Wall Street and continued to drag down indices in most of Asian markets.

On Tuesday, the S&P 500 Index shed 0.8 percent – the most since May 17 while the NASDAQ Composite index lost 1.61% and the Dow Jones Industrial Average plunged by 0.46%. Shares of Alphabet were among top losers, shedding more than 2% after Google had been fined a record $2.7 billion by the EU for having violated antitrust rules.

Meanwhile, the dollar lost ground versus most of its rivals amidst rising concerns over Trump administration following through with tax cuts and fiscal stimulus steps after the healthcare bill faced resistance from some of Republican senators and failed to be passed on Tuesday.

The dollar index, which measures the greenback against a basket of six major currencies, lost more than 0.1 percent at 96.35, after shedding about 1 percent on Tuesday. A weak dollar tends to make gold more affordable to buyers using other currencies.

Trade suggestion

Buy Stop at 1253.00, Take profit at 1258.00, Stop loss at 1251.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!


**********************************

CAD/JPY

From GMT 11:45 28/06/2017
Till GMT 21:00 28/06/2017

Buy at 85.700
Take profit at 86.100
Stop loss at 85.500
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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