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Market Outlook by Capital Street FX

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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Tue Oct 03, 2017 6:04 pm

Daily Report on October 03, 2017



Tracking overnight strength on Wall Street, Asian shares were broadly stronger while European stocks opened higher on Tuesday. Stocks in Hong Kong and Japan led gains with Japan’s Nikkei 225 Stocks Average jumping 1.1 percent to the highest close since August 2015, while the Topix index climbing 0.7 percent. The Hang Seng China Enterprises gauge of mainland firms traded in Hong Kong reopened after a holiday on Monday, up 3.1 percent.

The Hang Seng Index soared 1.8 percent. Markets in China and South Korea are closed for the entire week. Stoxx Europe 600 opened 0.1% higher at 390.50 while France's CAC 40 index opened 0.2% higher at 5,362.82. Germany was closed for holiday while UK's FTSE 100 index edged 0.1 percent lower, led by a fall of more than 2 percent in shares of Bae Systems following a downgrade to hold at Berernberg.

The Aussie slipped more than 0.2 percent to trade at $0.7808 in early European trading session, heading for the seventh daily decline in the last nine trading days. As widely expected, the Reserve Bank of Australia kept its benchmark interest rate unchanged at a record-low 1.5%, where it has remained since August 2016.

The currency deepened declines versus major rivals after Governor Philip Lowe gave no indication that the central bank is prepared to hike rate anytime soon given high household debt and weak wages growth. Mr. Lowe also warned that the appreciation of the Aussie which recently traded near two-year highs may hold back both economic recovery and prospect of inflation moving towards the RBA’s goal target of 2 percent.





Technicals

GBPJPY




GBPJPY has been moving sideways above a firm support at 149.500. Under the downward pressure exerted by two moving averages that are hanging above the price action, the pair is expected to break out of this support to test another firm handle at 148.300. RSI index continue to trace down moves, whereas ADX index is witnessing –DI and +DI lines moving in different directions.

Trade suggestion

Sell Stop at 149.500, Take profit at 148.300, Stop loss at 150.00



USDJPY




Having been supported by a couple of moving averages that are lingering below the price action, the pair USDJPT rebounded after a period of moving sideways around a significant level at 50.0% Fibonacci retracement. The currency pair is forecast to sustain its bullish force to test a resistance at 113.600. RSI index is heading higher, confirming the signal.

Trade suggestion

Buy Stop at 113.200, Take profit at 113.600, Stop loss at 113.000



WTI



U.S. crude oil futures continued to trade lower after having been in a consolidation above a strong support at 50.300. The commodity appears to break out of this handle with the short-term MA20 crossing over the long-term MA50 from above, confirming a reversal into a downtrend. RSI index is ticking lower, suggesting further downbeat moves for the commodity.

Trade suggestion

Sell Stop at 50.200, Take profit at 49.300, Stop loss at 50.600



GOLD




Gold futures prices resumed its downtrend following a short correction at a one-and-a-half-month low logged yesterday. The precious metal has been depressed by a couple of moving averages that may send the price lower in an attempt to test a support at 1261.00. RSI is at as low as 32.13, indicating an overwhelming bearish force in the market.

Trade suggestion

Sell Stop at 1269.00, Take profit at 1261.00, Stop loss at 1273.00



Natural Gas



Natural Gas futures prices reversed lower following a correction that came after the commodity tumbled to a nearly-one-month low yesterday. Two moving averages are lingering above the price action with the short-term MA20 likely to penetrate the long-term MA50 from above. While the RSI index is heading downwards, the ADX index is on a rise with widening gap between –DI and +DI lines, suggesting further declines.

Trade suggestion

Sell Stop at 2.9050, Take profit at 2.8600, Stop loss at 2.9250



NASDAQ 100 Index



Nasdaq 100 index has been tracking a steady uptrend since it reversed higher from as low as 5840.00 logged late September. Two moving averages are lingering below the price action, supporting for the stock benchmark index. A resistance at 6010.00 is forecast to be tested given a market dominated by the buyers. RSI index is at as high as 62.17, confirming the signal.

Trade suggestion

Buy Stop at 5988.00, Take profit at 6010.00, Stop loss at 5977.00



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

Aussie Extends Downward Rally Versus U.S. Dollar After RBA Talks Down Rate-hike Prospects


Australian dollar continued to trade lower against its American counterpart on Tuesday after the nation’s central bank decided to leave its rate on hold. Meanwhile, the greenback has been supported amidst optimism that the Federal Reserve will raise rates at the end of this year.

The Aussie slipped more than 0.2 percent to trade at $0.7808 in early European trading session, heading for the seventh daily decline in the last nine trading days. As widely expected, the Reserve Bank of Australia kept its benchmark interest rate unchanged at a record-low 1.5%, where it has remained since August 2016.

The currency deepened declines versus major rivals after Governor Philip Lowe gave no indication that the central bank is prepared to hike rate anytime soon given high household debt and weak wages growth. Mr. Lowe also warned that the appreciation of the Aussie which recently traded near two-year highs may hold back both economic recovery and prospect of inflation moving towards the RBA’s goal target of 2 percent.

Whereas, the U.S. dollar extended its rally against its peers with the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, up 0.13 percent to 93.75, its highest since August 17. Upbeat U.S. manufacturing data released on Monday, which indicated that U.S. of manufacturing activity climbed to a 13-month high of 60.8 in September, helped boost chances for a December rate hike by the Federal Reserve and the dollar.

Trade suggestion

Sell Stop at 0.77900, Take profit at 0.77500, Stop loss at 0.78100


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

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

Sterling Slips To Three-week Lows Vs Dollar After Construction PMI Drops Below 50


Sterling plunged to a nearly-three-week low versus the dollar on Tuesday after data showed activity in the UK construction sector in September contracted for the first time in 13 months.

The British pound extended its downward rally against its American counterpart to a third consecutive trading day, sending the pair GBPUSD down more than 0.2 percent to trade at $1.3249 – the weakest level since September 14th.

Financial data firm Markit on Tuesday reported that its construction purchasing managers’ index fell below the 50-point threshold that separates expansion from contraction for the first time since August 2016. Particularly, the index dropped to 48.1 in September from 51.1 in August, missing forecast calling for a reading of 51.1.

Moreover, Sterling has been under pressure after UK Trade Secretary Liam Fox warned that the UK will have no choice but to walk away if the country fails to make a trade deal with the European Union by March.

Trade suggestion

Sell Stop at 1.32400, Take profit at 1.32000, Stop loss at 1.32600


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

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

EUR/AUD


From GMT 09:00 03/10/2017
Till GMT 21:00 03/10/2017

Sell at 1.50300
Take profit at 1.50800
Stop loss at 1.50100
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
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CSFX.Support
 
Posts: 2146
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Wed Oct 04, 2017 6:37 pm

Daily Report on October 04, 2017



Asian shares traded higher on Wednesday, boosted by strong manufacturing activity across much of Asia, Europe and the United States which rose optimism about global growth. Meanwhile, Chinese central bank on Saturday freed up liquidity by cutting the amount of cash that some banks must hold as reserves for the first time since February 2016, helping support mainland financial stocks.

MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.3 percent and extended its rally to a fourth straight day. Japanese and Hong Kong shares led Asian stocks higher with Japan's Nikkei soaring to a more than two-year peak while Hong Kong's Hang Seng Index climbing to a level not seen since May 2015. China and South Korea markets closed for week-long holidays.

The Stoxx Europe 600 Index added 0.1 percent to trade at the highest level in more than 15 weeks. The U.K.’s FTSE 100 Index advanced less than 0.1 percent but hovered near the highest in eight weeks. Germany’s DAX Index reversed lower after having risen 0.4 percent.

Crude oil futures remained weak on Wednesday after the American Petroleum Institute on Tuesday reported that U.S. crude supplies fell for a second week in a row but gasoline stockpiles rose 4.2 million barrels last week. Supply data from the Energy Information Administration will be released later in the day with analysts expecting a fall of 1.5 million barrels in crude inventories and a rise of 1.5 million barrels for gasoline.



Technicals

NZDUSD


NZDUSD reversed lower after having hit a significant level at 50.0% Fibonacci retracement. The pair was also depressed by a couple of moving averages which are hanging above the price action, especially the short-term MA20. RSI index is heading downwards, indicating a strengthening bullish force in the market. A support at 0.71250 is within the sight.

Trade suggestion

Sell Stop at 0.71650, Take profit at 0.71250, Stop loss at 0.71850



USDCHF


Having been supported by two moving averages that are lingering below the price action, the pair USDCHF is tracking an uptrend with higher lows and higher highs formed in the chart. RSI index reversed higher and kept moving in the positive territory, signaling further advances for the currency pair. A strong resistance at 38.2% Fibonacci retracement is expected to be tested.

Trade suggestion

Buy Stop at 0.97350, Take profit at 0.97800, Stop loss at 0.97150



NZDJPY



NZDJPY has been moving sideways above a significant level at 38.2% Fibonacci retracement. The pair has been under downward pressure exerted by a couple of moving averages that are hanging above the price action. As the market has been dominated by sellers, the pair is expected to breach this tough handle and trade lower to test a support at 80.300.

Trade suggestion

Sell Stop at 80.700, Take profit at 80.300, Stop loss at 80.900



BRENT


Brent crude price has been tracing a downtrend that has sent the commodity to the lowest level in the last two weeks. RSI remained at lows while ADX index is experiencing a rise with a widening gap between –DI and +DI lines. The commodity is anticipated to tick lower in an attempt to test a support at 54.800.

Trade suggestion

Sell Stop at 55.450, Take profit at 54.800, Stop loss at 55.650



GOLD



Gold reversed lower after hitting a dynamic resistance at the short-term MA20 as well as a firm handle at the 61.8% Fibonacci retracement. RSI index also retreated to the negative territory, suggesting a recovering bearish force. The precious metal is expected to extend its downtrend to retest a support at 1268.00.

Trade suggestion

Sell Stop at 1275.00, Take profit at 1268.00, Stop loss at 1278.00



COPPER



Copper edged lower following a period of consolidation. The price action crossed over the short-term MA20 and is facing the long-term MA50. RSI pointed downward to the oversold zone, which shows a bearish market. As a result, the commodity is forecast to breach this dynamic support to retest yesterday’s low at 2.9235.

Trade suggestion

Sell Stop at 2.9455, Take profit at 2.9235, Stop loss at 2.9565



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

EUR/AUD

From GMT 12:00 04/10/2017
Till GMT 21:00 04/10/2017

Sell at 1.49600
Take profit at 1.49100
Stop loss at 1.49800
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 » Thu Oct 05, 2017 6:29 pm

Daily Report on October 05, 2017



U.S. shares jumped higher on Thursday to reach fresh record highs with the S&P 500 Index extended its upward rally to the longest streak since July 2013. U.S. stock markets’ bullish run were propelled by over U.S. tax reforms and data pointing to solid U.S. growth. The S&P 500 Index soared roughly 0.44 percent to trade at 2,548.89 with only two out of eleven major sectors trading in positive territory. Meanwhile, the Dow Jones Industrial Average and the Nasdaq Composite added 0.45% and 0.63%, respectively.

Financials led gains with a jump of 0.9 percent after Philadelphia Federal Reserve Bank President Patrick Harker on Thursday suggested one more rate hike this year and three next year. Upbeat data backed up the expectations of the Federal Reserve raising rates at the December meeting with initial jobless claims fell more than expected.

Upbeat U.S. data also support market participants’ sentiment. According to the reported published by the U.S. Department of Labor, unemployment claims dropped to 260,000 last week from a reading of 272,000 recorded in the preceding week and was better than analysts’ forecast calling for a figure of 266,000. Additional reports from the Bureau of Economic Analysis showed U.S. trade deficit for August narrowed to 42.4B from 43.7B in July.

Crude oil futures prices surged strongly on Thursday, with demand bolstered by a talk of an extension for an OPEC deal to cut output. Russian Energy Minister Alexander Novak on Thursday said that Russia would support new countries joining the agreement to restrict oil supply while President Vladimir Putin earlier this week claimed that a new pledge to trim production by OPEC and other producers could be extended to the end of 2018, instead of expiring in March 2018.



Technicals

GBPUSD



Under downward pressure exerted by a couple of moving averages that are hanging above the price action, the pair GBPUSD crossed over a strong support at the 23.6% Fibonacci retracement and is heading towards another firm support at 1.30600. ADX index continued to trace upbeat moves with a widening gap between the –DI and +DI lines, suggesting further declines for the pair.

Trade suggestion

Sell Stop at 1.31300, Take profit at 1.30600, Stop loss at 1.31600



AUDUSD


AUDUSD reversed lower after having failed to penetrate the long-term MA50 from below. The price action fell below both the short-term MA20 and the 38.2% Fibonacci retracement. The pair is facing a firm support at 0.77950 where it has failed to breach since late September. With the RSI index heading lower while ADX index on a rise, a breakout is expected. A support at 0.77550 is within the sight.

Trade suggestion

Sell Stop at 0.77950, Take profit at 0.77550, Stop loss at 0.78150



USDCAD


USDCAD rebounded higher from a period of consolidation and breached a strong resistance at 1.25400 – the highest level since late-August. Further advances are anticipated for the pair as both ADX and RSI index are soaring which showed a strengthening an overwhelming bullish momentum in the market. A resistance at 1.26300 is within the sight.

Trade suggestion

Buy Stop at 1.25700, Take profit at 1.26300, Stop loss at 1.25400



COPPER



Copper has been tracking a dramatically strong uptrend that did not only help the commodity to break out of a firm handle at 2.9900 but also support the price to breach a significant level at the 23.6% Fibonacci retracement. Although the RSI index has jumped to the overbought index which signals a correction in the near future, ADX index keeps heading higher which encourages the commodity to test a resistance at 3.0750.

Trade suggestion

Buy Stop at 3.0450, Take profit at 3.0750, Stop loss at 3.0300



GOLD


Gold reversed lower on the back of a hit with the 61.8% Fibonacci retracement. The price action breached the short-term MA20 after a period of being supported by this dynamic support. The precious metal is heading downwards to a support at 1266.00 with the market dominated by sellers, as indicated by RSI index which has pointed to as low as 41.0375.

Trade suggestion

Sell Stop at 1272.00, Take profit at 1266.00, Stop loss at 1275.00



Dow Jones


Dow Jones index has been supported by a couple of moving averages that are lingering below the price action that helped the stock benchmark index soar higher after a period of moving sideways. Both RSI and ADX are surging, indicating a strengthening bullish force in the market. A resistance at 22850.00 is forecast to be tested.

Trade suggestion

Buy Stop at 22750.00, Take profit at 22850.00, Stop loss at 22700.00



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

Euro To Break the 1.1700 Handle as Political Turmoil Persists, Dollar Supported by Rate Hike Prospects

The euro reversed lower against the greenback on Thursday after two days of closing higher in a row. While the single currency was fragile amidst rising political turmoil and pessimism over possibility of the European Central bank tapering its bond-buying program, the U.S. dollar has been boosted by upbeat domestic data and hawkish comments from Fed officials.

The euro lost 0.45 percent versus its American counterpart on Thursday, sending the pair back down to near the benchmark level 1.17000 where it reversed higher on September 03rd. The single currency lost ground following the release of the minutes of the European Central Bank’s September meeting which showed that policy makers remained concerned over the euro’s volatility. The minutes reduced expectations that the ECB will begin reducing its quantitative easing program after its October meeting.

Whereas, after the regional government of Catalonia on Wednesday announced that they would declare independence from Spain on Monday, further depressing the currency.

The dollar, on the other hand, was supported strongly after Philadelphia Federal Reserve Bank President Patrick Harker on Thursday suggested one more rate hike this year and three next year. Upbeat data backed up the expectations of the Federal Reserve raising rates at the December meeting with initial jobless claims fell more than expected.

According to the reported published by the U.S. Department of Labor, unemployment claims dropped to 260,000 last week from a reading of 272,000 recorded in the preceding week and was better than analysts’ forecast calling for a figure of 266,000.

Additional reports from the Bureau of Economic Analysis showed U.S. trade deficit narrowed in August. As exports climbed to a two-and-a-half year high and factory orders increased more than projected, U.S. trade deficit narrowed to 42.4B from 43.7B in July.

Trade suggestion

Sell Stop at 1.17000, Take profit at 1.16600, Stop loss at 1.17200


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

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

Financial Sector Leads Gains, Helping U.S. Markets Bull Run Extend Winning Streak

U.S. shares jumped higher on Thursday to reach fresh record highs with the S&P 500 Index extended its upward rally to the longest streak since July 2013. U.S. stock markets’ bullish run were propelled by optimism over U.S. tax reforms and data pointing to solid U.S. growth.

The S&P 500 Index soared roughly 0.44 percent to trade at 2,548.89 with only two out of eleven major sectors trading in positive territory. Financials led gains with a jump of 0.9 percent after Philadelphia Federal Reserve Bank President Patrick Harker on Thursday suggested one more rate hike this year and three next year. Upbeat data backed up the expectations of the Federal Reserve raising rates at the December meeting with initial jobless claims fell more than expected.

Upbeat U.S. data also support market participants’ sentiment. According to the reported published by the U.S. Department of Labor, unemployment claims dropped to 260,000 last week from a reading of 272,000 recorded in the preceding week. Additional reports from the Bureau of Economic Analysis showed U.S. trade deficit narrowed to 42.4B in August from 43.7B in July.

Trade suggestion

Buy Stop at 2550,00, Take profit at 2560,00, Stop loss at 2545,00



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

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

CAD/JPY

From GMT 18:30 05/10/2017
Till GMT 21:00 05/10/2017

Sell at 89.650
Take profit at 89.150
Stop loss at 89.900
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
User avatar
CSFX.Support
 
Posts: 2146
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Fri Oct 06, 2017 6:14 pm

Daily Report on October 06, 2017



Global shares jumped higher on Friday after U.S. stocks notched record closing highs again in the previous session. Asian shares soared and European equities opened higher while gold extended losses as dollar lingered at seven-week highs against other major counterparts thanks to optimism over the outlook for the U.S. economy that is strong enough to withstand higher interest rates.

MSCI’s broadest index of Asia-Pacific shares outside Japan surged 0.3 percent, poised for a 1.6 percent gain on the week. Hong Kong’s Hang Seng index led gains with an increase of 3.3 percent in a holiday-shortened week. While Australia’s S&P/ASX 200 Index added 1 percent, Japan’s Topix index climbed 0.3 percent.

Investors are awaiting U.S. non-farm payrolls data which is scheduled to be released by the Bureau of Labor Statistics later in the day. Analysts forecast a slowdown in new jobs added last month due to disruptions from two major hurricanes Harvey and Irma in September. Indeed, U.S. economy is anticipated to have created 90,000 jobs in September while jobless rate is expected to remain unchanged at 4.4 percent.



Technicals

GBPAUD


GBPAUD has been trading sideways to lower below a significant level at the 50.0% Fibonacci retracement. Under downward pressure exerted by the short-term MA20, the pair is anticipated to trade lower to test another firm handle at the 38.2% Fibonacci level. RSI index retreated to keep moving in the negative territory, suggesting further declines for the pair.

Trade suggestion

Sell Stop at 1.68100, Take profit at 1.67300, Stop loss at 1.68500



USDCAD


USDCAD has been tracking a strong uptrend that has sent the pair to the highest level since August 31st. With the support from two moving averages that are lingering below the price action, the pair is expected to retest a firm resistance at 1.26350 – the level that force the pair to reverse lower late-August. Rising ADX and RSI indices signals further advances.

Trade suggestion

Buy Stop at 1.25950, Take profit at 1.26350, Stop loss at 1.25750

EURUSD




The pair EURUSD successfully broke out of a strong support at the benchmark level 1.17000 in the previous session and is extending its downbeat moves. Under downward pressure exerted by two moving averages hanging above the price action, the pair is forecast to sustain its bearish momentum in an attempt to reach a support at 1.16450.

Trade suggestion

Sell Stop at 1.16850, Take profit at 1.16450, Stop loss at 1.17050



NATURAL GAS


Under downward pressure from two moving averages that are hanging above the price action, natural gas futures extended their downtrend following a short consolidation. With the RSI index pointing down while ADX index witnessing a crossover between the –DI and +DI lines, the commodity is expected to trade lower to test a support at 2.8400.

Trade suggestion

Sell Stop at 2.8700, Take profit at 2.8400, Stop loss at 2.8850



BRENT



Brent crude prices reversed lower after having hit a resistance at 57.200. The commodity is facing a firm support at 55.550 – the level that the price has failed to breach since the beginning of this week. After the price action had fallen below both the short-term MA20 and the long-term MA50, the commodity is anticipated to attempt a support at 54.800.

Trade suggestion

Sell Stop at 55.550, Take profit at 54.800, Stop loss at 55.900



EURGBP



EURGBP has been tracing a steady uptrend that sent the currency pair to the highest level since mid-September at 0.89800. While RSI index has jumped into the overbought zone, the ADX index is heading upwards with a widening distance between the +DI and –DI lines, indicating a strengthening bullish force in the market and suggesting further advances for the pair.

Trade suggestion

Buy Stop at 0.89800, Take profit at 0.90300, Stop loss at 0.89600





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

Gold Futures Hover Near Two-month Lows Ahead of U.S. Non-farm Payrolls

Gold slipped in early European trading session on Friday, extending downbeat moves after having hit two-month lows in the previous session. The precious metal has been under pressure as the dollar was lingering at seven-week highs against other major counterparts thanks to optimism over the outlook for the U.S. economy.

Contracts tied to gold for November delivery on the Comex division of the New York Mercantile Exchange dipped 0.21% to $ 1,268.70 a troy ounce, hovering near the weakest level since August 09th. Demand for the greenback has been bolstered on the back of hawkish comments from the Federal Reserve policy makers that signal one more rate hike at the end of this year.

Philadelphia Federal Reserve Bank President Patrick Harker on Thursday did not only echoed his colleagues’ claims but also said that he expected three rate increases next year. Upbeat U.S. data also support market participants’ sentiment, helping strengthen the greenback and put pressure on dollar-denominated gold prices.

Investors are awaiting U.S. non-farm payrolls data which is scheduled to be released by the Bureau of Labor Statistics later in the day. Analysts forecast a slowdown in new jobs added last month due to disruptions from two major hurricanes in September.

Indeed, U.S. economy is anticipated to have created 90,000 jobs in September while jobless rate is expected to remain unchanged at 4.4 percent.

Trade suggestion

Sell Stop at 1268,00, Take profit at 1261,00, Stop loss at 1271,00


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

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

Sterling Sinks to One-month Lows Amidst Rising Political Uncertainties

Sterling tumbled to one-month low versus the U.S. dollar in European trading session on Friday amidst rising political uncertainty while the dollar kept ticking higher due to optimism over one more rate hike this year.

The British Pound dropped 0.43 percent to trade at $1.3061, down from $1.3118 recorded late Thursday in New York. The pair GBPUSD was lingering at levels that have not seen since early September and looks set for a 2.5% weekly tumble, its biggest since the week ending October 7, 2016.

Speculation that a general election could be called in the U.K. grew but Theresa May’s future was in doubt after she failed to win a majority in June’s national election. Especially after her speech at the Tory party conference on Wednesday which is called “disastrous”, there are rumors that the Prime Minister will be asked to step down by her own party.

Trade suggestion

Sell Stop at 1.30600, Take profit at 1.30200, Stop loss at 1.30800


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

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

GBP/CAD

From GMT 15:20 06/10/2017
Till GMT 21:00 06/10/2017

Sell at 1.63700
Take profit at 1.63100
Stop loss at 1.64000
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
User avatar
CSFX.Support
 
Posts: 2146
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Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Mon Oct 09, 2017 6:42 pm

Daily Report on October 09, 2017



Asian shares were mostly higher on Monday while European stock market gains, led by equities in Spain. The Shanghai Composite Index soared 0.76 percent while the Shenzhen Composite Index jumped 1.3 percent after a weeklong holiday. However, Hong Kong stocks retreated with the Hang Seng Index closed 0.5 percent lower after having hit 10-year highs last Friday.

Whereas, Australian stocks extended their rally, adding 0.5 percent on Monday with advances mainly from stocks of the country’s big banks. New Zealand’s stock benchmark also traded higher with the S&P/NZX 50 Gross Index climbing 0.4% to 8,010.28. The index surpassed the 8,000 level for the first time in history after its fifth-straight record closing high.

Stocks in Europe also started the week on an upbeat note after mass demonstrations in Catalonia over the weekend in favor of Spanish unity. The Stoxx Euro 600 Index gained 0.2 percent, supported by Spain’s IBEX benchmark that surged nearly 0.7 percent. While a senior member of the Catalan administration called for dialogue on the region’s independence bid, companies threatened to move their head offices to other parts of the country.

European stocks also received a boost from data showing German industrial output jumped more than expected in August. According to data released by the Destatis, German industrial production rebounded from a summer lull and increased by 2.6 per cent on the month in August. This is the biggest monthly increase in more than six years. Elsewhere, stocks in the U.S. will be closed for the Columbus Day holiday Monday while markets including Japan, Korea and Taiwan are also closed.



Technicals

USDCAD


USDCAD rebounded after having hit a dynamic support at the short-term moving average MA20. While the RSI index is surging, ADX index is also on a rise with a widening gap between the +DI and –DI lines, which shows an overwhelming and strengthening bullish momentum in the market. A resistance at 1.26350 is within the sight.

Trade suggestion

Buy Stop at 1.25600, Take profit at 1.26350, Stop loss at 1.25300



GBPUSD


GBPUSD reversed lower after having failed to sustain its bullish momentum above the short-term MA20. RSI index also turned lower which shows a recovering bearish force in the market. The pair is anticipated to extend its downbeat moves and trade lower, possibly heading towards a support at 1.30700.

Trade suggestion

Sell Stop at 1.31300, Take profit at 1.30700, Stop loss at 1.31600



AUDNZD



With the support from a couple of moving averages which are lingering below the price action, especially the short-term MA20, the pair AUDUSD bounced back. The RSI index edged higher at as high as 56.73, showing a strengthening bullish force. A high at 1.10100 recorded earlier in the session is expected to be tested again.

Trade suggestion

Buy Stop at 1.09700, Take profit at 1.10100, Stop loss at 1.09500



WTI


WTI crude price futures have been moving sideways around the level at 49.355 after having plunged to the lowest level since mid-September. The commodity has been under pressure from two moving averages that are hanging above the price action, which may depress the price further. RSI index is pointing downward, indicating a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 49.200, Take profit at 48.500, Stop loss at 49.500





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

Natural Gas Futures Hit Two-month Trough As Mild Weather Hurts Demand

U.S. natural gas futures extended their downbeat moves on Monday, with prices weighed down by weather forecast that show milder weather over the next couple of weeks.

Front-month gas futures for November delivery on the New York Mercantile Exchange tumbled more than 0.7 percent to trade at $2.843 per million British thermal units in North American trading session, heading to close lower for the sixth trading session in the last seven days. The futures prices plunged to the lowest level since August 09, 2017 on Monday after having slipped by nearly 5% last week.

Weather forecasting models predicted mild temperatures for the eastern part of the U.S. due to the fact that high pressure returns. Meanwhile, the West Coast will be mild to warm and the southern U.S will be very warm to hot. According to market analysts, under the impact of mild weather that tends to hurt early-winter demand for the heating fuel, U.S. gas consumption would slip to 71.3 billion cubic feet per day (bcfd) this week and the next from 74.3 bcfd last week.

Trade suggestion

Sell Stop at 2.8300, Take profit at 2.8000, Stop loss at 2.8450


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

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Euro Gains Ground vs Rivals After ECB Hawk Calls Winding Down Asset Purchases

The euro rose versus its American counterpart for second day in a row on Monday, pulling back from a one-and-a-half-month low recorded last Friday. The single currency was boosted on the back of hawkish comments from an ECB hawkish official.

The pair EURUSD added 0.2 percent to trade at $1.1756 in North American trading session on Monday after having hit a low at $1.1668 on Friday. ECB Executive Board member Sabine Lautenschlaeger on Monday claimed that the central bank should reduce its asset purchases from next year with the aim to halt the program altogether.

Lautenschlaeger, who has in the past spoken favorably about withdrawing stimulus, argued that swelling the ECB’s balance sheet any further is not needed given the fact that the factors holding down inflation are temporary. The ECB is scheduled to hold its policy meeting later this month, on October 26th, to decide whether to continue bond purchases next year.

Trade suggestion

Buy Stop at 1.17600, Take profit at 1.18000, Stop loss at 1.17400


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NZD/USD

From GMT 14:30 09/10/2017
Till GMT 21:00 09/10/2017

Sell at 0.70700
Take profit at 0.70300
Stop loss at 0.70900
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
User avatar
CSFX.Support
 
Posts: 2146
Joined: Mon Aug 29, 2016 11:16 am

Re: Market Outlook by Capital Street FX

Postby CSFX.Support » Tue Oct 10, 2017 5:30 pm

Daily Report on October 10, 2017



Shrugging off modest losses on Wall Street, Asian shares rose on Tuesday as traders returned from holidays. The MSCI Asia Pacific Index jumped 0.6 percent, led by an increase of 1.6 percent of South Korea’s Kospi index. Whereas, Japan’s Topix index gained 0.5 percent at the close of trading in Tokyo and Australia’s S&P/ASX 200 Index closed flat.

Hang Seng Index surged 0.6 percent while the Shanghai Composite Index added 0.2 percent after having reached its highest since January 2016 on Monday. The Chinese yuan also rose on Tuesday after the PBOC raised the official midpoint to 6.6273 per dollar, from Monday's fixing of 6.6493 per dollar. Head of the National Bureau of Statistics of China, Ning Jizhe reportedly said that China would have no problem meeting its economic growth target of around 6.5 percent this year, and may even surpass this target.

The National Australia Bank reported that the nation’s business conditions remained strong in September. Indeed, NAB's Business Confidence index jumped to a net balance of +7 last month, up from +5 in August and above analysts’ expectations calling for a rise to +6. NAB's Chief Economist, Alan Oster, claimed that “Business conditions at these levels tell us that the business sector in Australia is doing very well”.

Crude oil futures prices advanced on Tuesday due to prospects of balancing oil market. OPEC’s secretary general Mohammad Barkindo on Monday said that “There is clear evidence that the market is rebalancing” given “the process of global destocking continues” in recent months.

The Federal Statistical Office of Germany on Tuesday reported that German exports surged in August due to strong demand from the Eurozone. Particularly, German’s total goods exports in August was reported to climbed 3.1% from July, led by a 10.6% increase in exports to eurozone countries.



Technicals

NZDJPY


NZDJPY reversed lower after a period of moving sideways below a significant level at the 50.0% Fibonacci level. The pair gapped down and fell below this level earlier this week but failed to recover and surpass this handle. Under downward pressure from two moving averages that are hanging above the price action, the pair is expected to trade lower to test a support at 79.000.

Trade suggestion

Sell Stop at 79.500, Take profit at 79.000, Stop loss at 79.700



EURUSD


EURUSD extended its upbeat rally following a consolidation around a couple of moving averages. The price action successfully penetrated these two dynamic resistance from below, which confirms the uptrend. While RSI index is pointing towards the overbought zone, ADX index is ticking higher with the +DI and –DI lines moving in different directions. Further advances are expected.

Trade suggestion

Buy Stop at 1.17900, Take profit at 1.18300, Stop loss at 1.17700



USDCAD



USDCAD fell below both the short-term MA20 and the long-term MA50 after a consolidation. A reversal into a downtrend is confirmed after the breakout. With RSI index has jumped into the negative territory, the ADX index reversed higher with a widening gap between –DI and +DI lines. A support at 1.24500 is expected to be tested.

Trade suggestion

Sell Stop at 1.25000, Take profit at 1.24500, Stop loss at 1.25200



SILVER


Silver has been tracking an uptrend that has sent the precious metal to the highest level since September 26th. While the RSI index is heading upward, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, suggesting a strengthening bullish force in the market. A resistance at 17.200 is within the sight.

Trade suggestion

Buy Stop at 17.060, Take profit at 17.200, Stop loss at 17.000



GOLD



Gold has been trading higher after rebounding from a significant level at 61.8% Fibonacci retracement. As can be seen from the chart, the short-term MA20 has crossed over the long-term MA50 from below, which confirms the uptrend. As both RSI and ADX indices are edging higher, the precious metal is anticipated to extend its upbeat move to attempt a resistance at 1298.00.

Trade suggestion

Buy Stop at 1291.00, Take profit at 1298.00, Stop loss at 1288.00



BRENT


Brent crude prices rebounded from a firm support at 55.000 benchmark level which has supported the commodity price since September 13th. The price action has crossed over the short-term MA20 and is facing the long-term MA50. A breakout is expected with the market having jumped in the positive territory. ADX index is also on a rise. A resistance at 57.200 is anticipated to be tested.

Trade suggestion

Buy Stop at 56.400, Take profit at 57.200, Stop loss at 56.000

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Supported by Upbeat Data and Signs of Stronger China’s Economy, Aussie Snaps Three-day Slide

The Australian dollar strengthened versus its American counterpart on Tuesday, snapping a three-day streak of losses. The Aussie gained ground in the wake of upbeat economic data and signs of stronger economic growth in China.

The pair AUDUSD added more than 0.5 percent to trade at $0.7796 in Asian trading session on Tuesday. The National Australia Bank reported that the nation’s business conditions remained strong in September. Indeed, NAB’s Business Confidence index jumped to a net balance of +7 last month, up from +5 in August and above analysts’ expectations calling for a rise to +6.

NAB’s Chief Economist, Alan Oster, claimed that “Business conditions at these levels tell us that the business sector in Australia is doing very well.”

Meanwhile, head of the National Bureau of Statistics of China, Ning Jizhe reportedly said that China would have no problem meeting its economic growth target of around 6.5 percent this year, and may even surpass this target. Jizhe also added that measures taken by the government to cool the overheated property market have been effective and will remain in place.

Also supported by a weak dollar, the Chinese yuan rose on Tuesday as China’s central bank guided the currency’s midpoint higher. The People’s Bank of China (PBOC) fixed the official midpoint at 6.6273 per dollar, firmer than Monday’s fixing of 6.6493 per dollar, marking the first time it has raised that guidance in two weeks.

As China has become the biggest trading partner of Australia, especially Australian iron ore and coal, while Australian economy depends heavily on the foreign investment and commodity exports, investor sentiment towards the Aussie tends to partly be dictated by Chinese economic prospects.

Trade suggestion

Buy Stop at 0.78000, Take profit at 0.78400, Stop loss at 0.77800


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

U.K. Stocks Reverse Higher on Gains in Shares of Miners and Upbeat Economic Data

U.K. shares advanced on Tuesday, reversing higher from a loss in the previous session. Mining shares led the overall performance thanks to gains in prices of dollar-denominated metals while upbeat industrial production figures also contributed to the bullish sentiment.

The FTSE 100 index jumped nearly 0.25 percent to trade at 7,526.71 after having slipped 0.2 percent on Monday. Shares of copper producers soared as copper prices touched their highest in four weeks on Tuesday. The metal climbed 0.45 percent to trade at $3.0445, sending shares of copper producers Antofagasta PLC and Fresnillo PLC up 1.58% and 1.75%, respectively.

On the back of a weak dollar, gold and silver prices were also on a rise, helping bolster shares of international gold mining and exploration business Randgold Resources up 0.8%.

Meanwhile, the Office for National Statistics on Tuesday reported that manufacturing production grew by 0.4% month on month in August, brought the annual growth rate to 2.8%, outstripping expectations of a 1.9% increase. Industrial production was reported to climb 1.6% year-over-year, also above a forecast of 0.9%.

Trade suggestion

Buy Stop at 7,526.71, Take profit at 7,55000, Stop loss at 7,51600


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

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

EUR/NZD

From GMT 13:00 10/10/2017
Till GMT 21:00 10/10/2017

Buy at 1.66900
Take profit at 1.67100
Stop loss at 1.66700
Benefit from 0 Pips Spreads, 200% Bonus, 1:1000 Leverage, 100% Risk Free
User avatar
CSFX.Support
 
Posts: 2146
Joined: Mon Aug 29, 2016 11:16 am

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