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Forex Forum to Share, Discuss, Communicate and Trade Forex • Market Outlook by Capital Street FX
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Re: Market Outlook by Capital Street FX

PostPosted: Thu Jul 27, 2017 6:15 pm
by CSFX.Support
Daily Report on July 27, 2017



Asian shares climbed to the highest level in nearly a decade on Thursday after U.S. indexes closed at all-time record highs in the previous session. Also supported by optimism about corporate earnings, the MSCI's broadest index of Asia-Pacific shares outside Japan jumped 0.5 percent to heights not seen since December 2007 after the Dow Jones Industrial Average rose above 21,700 for the first time on Wednesday.

A firmer Yen kept Japan's Nikkei flat. Meanwhile, both Japan’s Topix index and Australia’s S&P/ASX 200 Index added 0.3 percent. Upbeat earnings results rolled in with data from Samsung Electronics Co. and Nintendo Co. beating analysts’ estimates. In Hong Kong, the Hang Seng Index edged 0.2 percent higher, while the Shanghai Composite Index dropped 0.4 percent.

The U.S. dollar tumbled after the Federal Reserve left U.S. interest rates unchanged as widely expected but said that inflation remained persistently below its target. The dollar index, which measures the strength of the greenback versus a basket of six other major currencies, tumbled to a 13-month trough at 93.370. The central bank noted in its statement released late Wednesday that both overall and core inflation had declined. The Fed indicated that it would start winding down its massive holdings of bonds "relatively soon".

Crude oil prices retreated on Thursday following a three-day advance but lingered near 8-week highs on hopes that a steeper-than-expected decline in U.S. crude oil inventories will help ease concerns over a global oversupply. According to data released by the Energy Information Administration on Wednesday, U.S. crude stocks fell sharply by 7.2 million barrel last week. Thanks to the fact that refineries increased output and imports declined, last week’s decline in crude inventories was well above the 2.6 million barrel forecast.



Technicals



EURAUD




EURAUD rebounded lower from a resistance at 1.47600 and has brought its price action below both the short-term and long-term MAs. The price action has also breached a significant support at 38.2% Fibonacci level. The pair is expected to trade lower with the RSI index pointing lower which indicates a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 1.45900, Take profit at 1.45400, Stop loss at 1.46100



GBPUSD



GBPUSD has breached a strong resistance at 1.31100 –the level it had to give up its bullish momentum in the first half of last week. The RSI index has jumped into the overbought territory while the ADX index continues to surge higher, indicating a strengthening bullish momentum in the market. A resistance at 1.32000 is within the sight.

Trade suggestion

Buy Stop at 1.31500, Take profit at 1.32000, Stop loss at 1.31300



GOLD



Gold has successfully broken out of a strong resistance at 23.6% Fibonacci retracement – a level that had forced the precious metal to trade sideways earlier this week. Gold price has been supported by two MAs that are lingering below the price action and is expected to trade higher to test another firm resistance at 1270.00.

Trade suggestion

Buy Stop at 1264.00, Take profit at 1270.00, Stop loss at 1261.00



WTI


U.S. crude oil prices have fallen into a period of moving sideways around the 23.6% Fibonacci level after surging to the highest level since June 01st on Wednesday. The commodity price looks set to edge higher with a market dominated by bullish momentum. ADX index is also on a rise, signaling upcoming advances.

Trade suggestion

Buy Stop at 48.700, Take profit at 49.500, Stop loss at 48.300

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Impressive Q2 Earnings Report Boosts Facebook Shares More Than 3% Higher


Shares of Facebook Inc. jumped more than 3 percent in Wednesday’s after-hours session after the tech giant published its second-quarter earnings results that beat Wall Street expectations.

Facebook shares added 3.32 percent to trade around $171.10 per share after the social networking service based in Menlo Park, California reported net income of $3.89 billion, or $1.32 per share. The readings did not only top earnings of $2.28 billion, or 78 cents per share, in the year-earlier period but also beat consensus calling for earnings per share of $1.12.

Total revenue was reported to reach $9.3 billion, up from $6.4 billion in the year-earlier period and well above forecast for a rise to $9.2 billion. Facebook said the number of daily active users jumped 17% year-over-year to reach 1.32 billion, in line with forecast. Monthly active users also grew at rate of 17% on a yearly basis, to 2.01 billion.

Trade suggestion

Buy Stop at 171.20, Take profit at 173.00, Stop loss at 170.00

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

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

Procter & Gamble Shares Advance as Fiscal Q4 Earnings Results Beat


Shares of Procter & Gamble Co. gained nearly 1 percent on Thursday after the consumer goods corporation reported fiscal fourth-quarter earnings results that were above Wall Street expectations.

Procter & Gamble shares added 0.72 percent to trade at $89.945 as the Cincinnati, Ohio-based company posted net income for the quarter of $2.22 billion, or 82 cents per share, up from $1.95 billion, or 69 cents per share during the year earlier period. Adjusted for one-time items, earnings per share came in at 85 cents, well above analysts’ expectation for earnings of 78 cents.

Procter & Gamble reported revenue of $16.08 billion for the three-month period ending in June, down slightly compared with the $16. 10 billion in revenue recorded during the same quarter a year ago. However, the decline had been expected. Economists forecast revenue to decline to $16.02 billion during the quarter.

The company said that it forecast earnings to grow 5% to 7% in 2018.

Trade suggestion

Buy Stop at 90.00, Take profit at 92.00, Stop loss at 89.00

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

Re: Market Outlook by Capital Street FX

PostPosted: Mon Jul 31, 2017 6:42 pm
by CSFX.Support
Daily Report on July 31, 2017



Asian shares reversed losses on Monday, turning positive following a lackluster start as supported by solid Chinese data. MSCI's broadest index of Asia-Pacific shares outside Japan rebounded higher from early downticks to rise 0.1 percent. Meanwhile, a firm Japanese Yen outweighed earnings that beat expectations from companies such as Hitachi Ltd. and TDK Corp., sending Japanese stocks lower.

The yen jumped more than 0.2 percent to trade at as high as 110.300 per dollar – the highest level since June 15, 2017 – in early trade. Japan’s Topix index swung between gains and losses while Japan's Nikkei fell 0.1 percent. South Korea’s Kospi index also traded in negative zone, losing 0.3 percent on the back of turmoil in the region. The US flew two supersonic B-1B bombers over the Korean peninsula in a show of force on Sunday after North Korea test-fired an intercontinental ballistic missile last Friday.

By contrast, Australia’s S&P/ASX 200 Index rose 0.3 percent. Chinese equities also edged higher. Hong Kong's Hang Seng index and Shanghai Composite index rose 0.6 percent and 0.2 percent, respectively. Published by the China Federation of Logistics and Purchasing on Monday, Chinese manufacturing PMI index slipped to 51.4 in July while services PMI index inched lower to 54.5 from 54.9 in June. However, both indices remained above the 50-point mark that separates growth from contraction on a monthly basis.

Crude oil prices extended their rally to a sixth trading session in a row, bolstered by a tightening U.S. crude market. According to data released by the U.S. Energy Information Administration last Wednesday, domestic oil production witnessed a modest fall of 19,000 barrels a day to 9.41 million barrels a day. Drilling for new U.S. production was also reported to decelerate, with just 10 rigs added in July, the fewest since May 2016.



Technicals



EURAUD


Fig: EURAUD H1 Technical Chart

EURAUD resumed its downtrend following a consolidation around 1.47100. The price action, which has been supported by the short-term MA20, has dropped below this dynamic, confirming the downtrend. The RSI is edging lower, the pair is expected to test a support at 1.46600.

Trade suggestion

Sell Stop at 1.47000, Take profit at 1.46600, Stop loss at 1.47200



NZDJPY



Fig: NZDJPY H4 Technical Chart

NZDJPY is facing a firm dynamic support at long-term MA50 after having gapped down in early trade. The market has fallen into the bearish zone, as indicated by the RSI index that has declined to as low as 44.43. The pair is likely to breach below the MA50 and may test a support at 82.300.

Trade suggestion

Sell Stop at 82.800, Take profit at 82.300, Stop loss at 83.000



WTI



Fig: WTI H4 Technical Chart

U.S. West Texas Intermediate (WTI) crude futures have been tracing a steady uptrend after having broken out of a period of moving sideways near a significant level at 23.6% Fibonacci retracement. The commodity is struggling at a firm resistance at 49.800 as the market has jumped into the overbought zone. However, with ADX index is soaring which indicates a strong bullish force in the market, the price is expected to edge higher.

Trade suggestion

Buy Stop at 49.900, Take profit at 50.800, Stop loss at 49.500



Natural gas



Fig: Natural Gas H4 Technical Chart

Natural gas’s futures prices gapped down sharply on Monday, sending the price action not only well below the short-term MA20 but also to a firm support at 2.8800 – the level it has failed to breach since July 10th. With RSI pointing lower and a rising ADX index, natural gas is anticipated to trade lower to test another strong support at 23.6% Fibonacci retracement.

Trade suggestion

Sell Stop at 2.8750, Take profit at 2.8400, Stop loss at 2.9000


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

U.S. Natural Gas Futures Tumble to Nearly Five-month Lows on Demand Concerns

U.S. natural gas futures dropped steeply on Monday, falling to the lowest level in almost five months as updated weather forecasts signaled lower demand for the fuel.

U.S. natural gas for September delivery tumbled by nearly 4 percent to trade at $2.819 per million British thermal units in North American trading session. The price plunged to the lowest since early March 2017.

According to market source, meteorologists forecast temperatures during the month of August to be near normal after a warmer-than-average June and July near-normal temperatures, which would turn down cooling demand over the next two weeks. Nearly 50% of all U.S. households use gas for cooling.

Analysts expect this week’s storage data scheduled to be published on Thursday will point to a build in a range between 17 and 27 billion cubic feet in the week ended July 28.

Trade suggestion

Sell Stop at 2.8160, Take profit at 2.7800, Stop loss at 2.8340

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

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

USD/CHF
FromGMT 09:00 31/07/2017
TillGMT 21:00 31/07/2017
Buy 0.97000
Buy at 0.97000
Take profit at 0.97500
Stop loss at 0.96800

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

EUR/NZD
FromGMT 14:00 31/07/2017
TillGMT 21:00 31/07/2017
Buy 1.57200
Buy at 1.57200
Take profit at 1.57800
Stop loss at 1.56900

Re: Market Outlook by Capital Street FX

PostPosted: Tue Aug 01, 2017 5:16 pm
by CSFX.Support
Daily Report on August 01, 2017



Asian stock markets traded higher on Tuesday after the Dow Jones Industrial Average eked out a fresh record high on Wall Street in the previous session. The MSCI Asia Pacific Index jumped 0.7 percent in the first trading session of the new month after having advanced for a seventh month in July. Meanwhile, Japanese shares also advanced after upbeat corporate earnings results.

Japan’s Topix index rose 0.5 percent, supported by gains in banks’ equities after Sumitomo Mitsui Financial Group Inc. - the second largest bank in Japan by market value - reported a 31 percent increase in net income for the June quarter. Australia’s S&P/ASX 200 Index surged 0.7 percent while South Korea’s Kospi index soared sharply 1.1 percent.

The Hang Seng Index in Hong Kong and the Shanghai Composite Index climbed 0.8 percent and 0.4 percent, respectively. According to data released by Markit, the Caixin manufacturing PMI came in at 51.1, well above expectation calling for a reading of 50.4. Any level above 50 denotes expansion.

The Australian dollar tumbled to as low as 0.79943 after the Reserve Bank of Australia left its cash rate at 1.5 percent on Tuesday, as widely expected decision given policy makers. The central bank also said an appreciating exchange rate which witnessed the Aussie trading near nearly-two-year highs versus the dollar would result in a slower pick-up in economic activity and inflation than currently forecast.

Crude oil futures continued to trade higher on Monday with U.S. West Texas Intermediate (WTI) crude futures jumping above $50 per barrel for the first time since late May. Analysts anticipate U.S. crude oil inventories declined 2.9 million barrels in the past week.



Technicals

EURUSD




EURUSD rebounded higher following correction that came after the currency pair reached the highest level since May 01st. The market fell into the overbought zone, as indicated by the RSI index which is at as high as 71.79. However, the pair is expected to trade higher as the ADX index is pointing upwards, signaling further advances.

Trade suggestion

Buy Stop at 1.18300, Take profit at 1.19000, Stop loss at 1.18000



GBPUSD




GBPUSD is tracing a sharp uptrend after having surpassed a resistance at 1.31500. With upward support from two MAs that are lingering below the price action. Both ADX and RSI are on a rise, which indicates a strengthening bullish momentum in the market. The pair is anticipated to edge higher.

Trade suggestion

Buy Stop at 1.32300, Take profit at 1.32800, Stop loss at 1.32100



GBPCHF




GBPCHF has been struggling around the level at 1.27600 after having surged to the highest level since mid-May 2017. The pair is anticipated to attempt a significant resistance at 38.2% Fibonacci retracement. Both RSI and ADX are surging, confirming the uptrend.

Trade suggestion

Buy Stop at 1.27900, Take profit at 1.28600, Stop loss at 1.27600



BRENT




Brent crude futures prices retested a firm resistance at 52.600 again and are moving sideways above this significant level. The commodity price is expected to trade higher as the Brent crude market has been dominated by the sellers, as indicated by the RSI index which is at as high as 70.87.

Trade suggestion

Buy Stop at 52.900, Take profit at 53.700, Stop loss at 52.500


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

U.K. Shares Extend Gain, Bolstered by Impressive Earnings Results


U.K. shares jumped higher on Tuesday, extending their gains after closing July higher. The overall performance was supported by upbeat earnings reports from the oil major and the engine manufacturer such as BP PLC and Rolls-Royce Holdings PLC.

The FTSE 100 index soared more than 0.7 percent on Tuesday to trade at 7430.00 after having a July rise of 0.8%. Direct Line Insurance Group PLC led gains with shares sharply surging more than 7%. Shares of the motor insurance provider were boosted higher after the company posted a rise in first-half net profit to £275.5 million ($363.7 million) and raised its interim dividend.

Shares of BP PLC were among market leaders as the oil producer announced that it returned to profit in the second quarter of $553 million. While shares of BP PLC added nearly 3 percent, those of Rolls-Royce Holdings PLC took off nearly 10% after the aircraft engine maker reported a first-half net profit of £1.6 billion ($2.1 billion).

Trade suggestion

Buy Stop at 7430.00, Take profit at 7470.00, Stop loss at 7415.00

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

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

AUD/USD

From GMT 10:00 01/08/2017
Till GMT 21:00 01/08/2017

Sell at 0.79800
Take profit at 0.79400
Stop loss at 0.80000

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

CAD/JPY

From GMT 16:40 01/08/2017
Till GMT 21:00 01/08/2017

Sell at 87.900
Take profit at 87.400
Stop loss at 88.100

Re: Market Outlook by Capital Street FX

PostPosted: Wed Aug 02, 2017 5:03 pm
by CSFX.Support
Daily Report on August 02, 2017



Asian shares advanced on Tuesday with gains in technology stocks offset losses in basic materials and energy. The MSCI's broadest index of Asia-Pacific shares outside Japan was steady near its highest since late 2007, helped by a jump of 0.8 percent in the MSCI tech index for Asia which was trading in territory not trod since early 2000. Impressive earnings result from tech giant was behind bullish sentiment in the sector.

Meanwhile, Japan's Nikkei rose 0.4 percent and Topix index gained 0.5 percent as Japanese yen lost ground versus most of its rivals. Hong Kong’s Hang Seng Index added 0.4 percent, while the Shanghai Composite Index was little changed. South Korea’s Kospi index also traded higher, advancing 0.2 percent. By contrast, Australia’s S&P/ASX 200 Index lost 0.4 percent.

Crude oil prices remained weak after having tumbled on Wednesday, depressed by a weekly report show U.S. fuel inventories rose last week. The American Petroleum Institute on Tuesday reported that U.S. crude stocks rose by 1.8 million barrels to 488.8 million in the week ending July 28 amid expectations calling for a draw of 3.2 million barrels. Official figures are due to be published by the U.S. Energy Information Administration (EIA) later in the day.

The New Zealand dollar was struck by data released by Statistics New Zealand early Wednesday which showed hiring declined unexpectedly in the country. The national unemployment rate was reported to hit a nine-year low at 4.8% in the June quarter. The reading was in line with market expectations and lower than the 4.9% rate reported in the previous quarter. However, employment dropped by 0.2% to 2.535 million people, missing forecasts for a rise of 0.7%.



Technicals

EURJPY




EURJPY successfully broke out of a firm resistance at 130.550 – the level that had restrained the currency pair from trading higher since July 11th. With upward support from two MAs which are lingering below the price action, the pair is expected to advance further. RSI and ADX indices which are on rise confirmed the uptrend.

Trade suggestion

Buy Stop at 131.100, Take profit at 131.500, Stop loss at 130.900



GBPNZD





GBPNZD surpassed a strong resistance at 1.77500 and is heading higher, attempting to test another significant resistance at 50.0% Fibonacci retracement. While RSI index has jumped into the overbought zone, the ADX is soaring steadily, signaling further advances for the currency pair.

Trade suggestion

Buy Stop at 0.78100, Take profit at 0.78900, Stop loss at 0.77700



GBPJPY


GBPJPY has broken out of a shrinking trading range which witnessed lower highs and higher lows formed along the way. A breakout from below suggests further advances with a resistance at 147.600 within the sight. RSI is heading towards the overbought zone, confirming the uptrend.

Trade suggestion

Buy Stop at 146.700, Take profit at 147.600, Stop loss at 146.300



FTSE 100 Index



FTSE 100 index retreated after having failed to surpass a firm resistance at 7430.00. The pair has also been under downward pressure, as indicated by lower highs formed along the way. The price action fell below a couple of MAs. With RSI falling below the level 50 while –DI line converging with +DI line, the stock benchmark index is anticipated to test a support at 7360.00.

Trade suggestion

Sell Stop at 7400.00, Take profit at 7360.00, Stop loss at 7420.00


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

Apple Shares Soar to Would-be-record-highs Levels After Earnings Beat


Shares of Apple Inc. rallied more than 6 percent in extended session on Tuesday after the tech giant announced stronger-than-expected quarterly earnings while its iPhone sales met expectations.

Apple shares jumped 6.3 percent in after-hours trading to trade at $159.50, which would be a fresh record high if maintained during regular trading. The California-based company reported fiscal third-quarter earnings of $8.72 billion, or $1.67 a share, well above $7.8 billion, or $1.42 a share, a year earlier. Analysts had expected earnings of $1.57 a share.

Apple posted revenue of $45.41 billion, up from $42.36 billion recorded one year ago and topping analysts’ estimate of $44.89 billion. Sales of iPhones were reported to reach 41.03 million, advancing from 40.4 million in the same period last year and beating expectations calling for sales of 41 million units.

The iPhone marker anticipates fiscal fourth-quarter revenue to hit a range of $49 billion to $52 billion.

Trade suggestion

Buy Stop at 159.00, Take profit at 161.00, Stop loss at 159.00

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

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

Gold Futures Advance After Weaker-than-expected U.S. Jobs Data


Gold futures prices held near seven-week highs on Wednesday, supported by a weaker U.S. dollar that traded lower after data showed fewer new jobs than expected were created in the United States in July.

Gold futures for September delivery advanced above $1270.00 per ounce in North American trading session after a report on ADP Nonfarm Employment Change showed a rise of 178K new nonfarm private employment jobs. However, the reading was short of the forecast of 187K and marked a decrease over June’s 191K.

The U.S. Labor Department will release its July nonfarm payrolls report on Friday which is expected to show jobs growth of 183,000 this month, following an increase of 222,000 in June. Unemployment rate is forecast to dip to 4.3% from 4.4% while average hourly earnings might have risen 0.3% after gaining 0.2% a month earlier.

Trade suggestion

Buy Stop at 1271.00, Take profit at 1277.00, Stop loss at 1268.00

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

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

GBP/AUD

From GMT 09:50 02/08/2017
Till GMT 21:00 02/08/2017

Buy at 1.66300
Take profit at 1.67000
Stop loss at 1.66000

Re: Market Outlook by Capital Street FX

PostPosted: Thu Aug 03, 2017 4:22 pm
by CSFX.Support

Daily Report on August 03, 2017




Asian shares retreated on Thursday after having surged to the highest level in almost 10 years in the previous session. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.6 percent from its highest since December 2007, with losses led by South Korea's tech-heavy Kospi index. The Dow Jones Industrial Average topped the 22,000 mark for the first time on Wall Street on Wednesday on the back of sharp up moves in Apple shares following its earnings.

Leading the declines, South Korean shares dropped by the most since November after President Moon Jae-in announced plans to raise taxes on big corporations and high-earning individual. South Korean tech shares were also hit hard as shares of Samsung Electronics Co. - the largest weighting on the Kospi index – tumbled as much as 3.8 percent.

Japanese equities were also on a decline. Japan's Nikkei dropped 0.3 percent while Topix index dropped 0.1 percent. Australia’s S&P/ASX 200 Index lost 0.2 percent, Hong Kong’s Hang Seng Index also slid 0.2 percent and the Shanghai Composite Index shed 0.3 percent.

According to data released by Financial information firm IHS Markit Ltd., activity in the U.K.'s services sector grew faster in July from June's four-month low. U.K.’s services PMI rose to 53.8 in July from 53.4 a month earlier, slightly below the expectations of analysts calling for a reading of 53.9.



Technicals

AUDNZD




AUDNZD had been trapped between the short-term MA20 and the long-term MA50 before breaking out of the MA50 from above to trade lower. The price action also fell below a firm support at 50.0% Fibonacci retracement, indicating a strengthening bearish force formed in the market. RSI is pointing downwards, suggesting further declines.

Trade suggestion

Sell Stop at 1.06950, Take profit at 1.06600, Stop loss at 1.07100



GBPAUD




GBPAUD has been struggling around a resistance at 1.67000 after having soared to the highest level in more than two weeks in the previous session. With support from two MAs lingering below the price action, the currency pair is anticipated to edge higher to attempt a significant level at 50.0% Fibonacci retracement.

Trade suggestion

Buy Stop at 1.67100, Take profit at 1.67100, Stop loss at 1.66800



WTI



WTI has broken out of a period of trading sideways as the price action had faced a resistance at the short-term MA20. The commodity price is expected to trade higher, attempting to test a fixed resistance at 50.800 as the market is dominated by bullish force. RSI index has surged above 50, confirming the uptrend.

Trade suggestion

Buy Stop at 49.800, Take profit at 50.800, Stop loss at 49.300



SILVER




Silver has been tracing a downtrend under downward pressure from two moving averages which are hanging above the price action. The precious metal is expected to trade lower, possibly testing a support at 16.350 as the RSI index has fallen to as low as 40, which indicates a strengthening bearish momentum in the market.

Trade suggestion

Sell Stop at 16.450, Take profit at 16.350, Stop loss at 16.500


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

Shares of Tesla Jump Nearly 8% on Upbeat Earnings and Rising Delivery Forecasts


Shares of Tesla Inc. rose as high as 8 percent in late trade on Wednesday after the car market reported sales above Wall Street expectations and predicted increased Model S deliveries in the second half of 2017.

Tesla’s shares jumped as much as 7.45 percent to trade at $350.16 in after-hours trading after ending the regular session up 2%. Tesla reported that it lost $336.4 million or $2.04 a share in the second quarter, which was larger than a loss of $293.2 million, or $2.09 a share recorded one year ago.

However, adjusted for one-time items, Tesla lost only $1.33 a share, well below $1.61 a share a year ago and analysts’ expectation for a loss of $1.88 a share. Besides a narrower-than-expected second-quarter loss, the Silicon Valley car maker posted revenue of $2.8 billion, up from $1.3 billion a year ago and beating forecast of $2.52 billion in revenue.

Tesla claimed that Model S demand was increasing, and therefore, Model S and X deliveries are expected to rise in the second half of 2017.

Trade suggestion

Buy Stop at 350.20, Take profit at 360.00, Stop loss at 345.00

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

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

Sterling Tumbles After the BOE Holds Rates but Cuts Growth Rate Forecasts


The British pound slumped versus most of its rivals including the U.S. dollar after the Bank of England cut its U.K. growth outlook on expectation that Brexit will continue to take a toll on U.K. investment and growth.

Sterling pulled away from an 11-month high of 1.3266 hit earlier in the session and dropped more than 0.8 percent to $1.3111, heading for the biggest drop since June. The BOE left interest rates on hold at record lows of 0.25 percent after its monetary policy meeting on Thursday.

The central bank also cut its economic growth forecast for this year and next. Particularly, the BOE forecasts economic growth of 1.7 percent this year and 1.6 percent in 2018. These figures marked a decrease from previously expectations calling for growth rate of 1.9 percent in 2017 and 1.7 percent next year.

Trade suggestion

Sell Stop at 1.31200, Take profit at 1.30700, Stop loss at 1.31400

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

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

EUR/AUD

From GMT 15:30 03/08/2017
Till GMT 21:00 03/08/2017

Buy at 1.49600
Take profit at 1.50100
Stop loss at 1.49400

Re: Market Outlook by Capital Street FX

PostPosted: Fri Aug 04, 2017 6:21 pm
by CSFX.Support

Daily Report on August 04, 2017




Asian shares were mixed on Friday following a technology-led drop on Wall Street in the previous session. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.2 percent higher, poised to climb 0.3 percent for the week. Meanwhile, Japanese stocks lost ground. Due to a strong yen, Japan’s Topix index slid 0.2 percent and Nikkei index dropped 0.3 percent. Both indices looked set to end the week little changed.

Overnight, while the Dow Jones Industrial Average edged up to a seventh straight record high, staying above the 22,000 level breached on Wednesday, the S&P and Nasdaq closed 0.2 percent and 0.35 percent lower respectively, weighed down by Amazon.com, Apple (NASDAQ:AAPL) and other top-shelf technology stocks. South Korea's KOSPI recovered 0.3 percent on Friday after having closed at a 3-1/2-week low on Thursday.

According to data released by the Australian Bureau of Statistics on Friday, Australian retail sales rose in June. Supported by a recent strong improvement in the country's job market, the country’s retail sales rose by 0.3% in June from May, above analysts’ expectation for a 0.2% rise for the months. On a quarterly basis, retail sales gained 1.5%, beating an expected up 1.2% on quarter gain.

Crude oil futures dipped on Friday after a report showed exports by the Organization of the Petroleum Exporting Countries (OPEC) rose to a record high in July. According to the data, OPEC’s crude oil exports jumped to 26.11 million barrels per day (bpd) last month, marking a rise of 370,000 bpd. Meanwhile, U.S. oil production reached the highest since August 2015 at 9.43 million bpd and up 12 percent from its most recent low in June last year.



Technicals

EURJPY


EURJPY rebounded from a strong support at 130.550 and is facing a dynamic resistance at the short-term MA20. The pair, with support from two MAs hanging below the price action, is expected to break out of this resistance and head higher to a level 131.350. RSI is at as high as 53.68, indicating a strengthening bullish force in the market.

Trade suggestion

Buy Stop at 130.850, Take profit at 131.350, Stop loss at 130.600



GBPCHF



The currency pair GBPUSD is likely to extend its down moves following a consolidation that came after a sharp drop from the 38.2% Fibonacci retracement. The price action has crossed over the short-term MA20 and is heading downwards to a support at 1.26400 where the long-term MA50 is also within the sight.

Trade suggestion

Sell Stop at 1.27100, Take profit at 1.26400, Stop loss at 1.27400



Natural Gas


Natural gas futures prices retreated after having failed to surpass a significant level at 23.6% Fibonacci retracement. Under downward pressure from two MAs, the commodity’s price is expected to trade lower, likely to breach a firm support at 2.7800 – the level that has restrained the price from falling since July 31st. Another strong support at 2.7270 is anticipated to be tested.

Trade suggestion

Sell Stop at 2.7720, Take profit at 2.7270, Stop loss at 2.950



SILVER


Silver has been tracing an uptrend after breaking out of a period of trading. The short-term MA20 has crossed over the long-term MA50 from below, suggesting a strengthening uptrend. While RSI index is soaring, ADX is also on a rise with a widening gap between +DI and -DI lines, signaling further advances for the precious metal.

Trade suggestion

Buy Stop at 16.730, Take profit at 16.850, Stop loss at 16.670

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

U.S. Dollar Takes Off After Impressive 209K Jobs Added in July, Sterling Tumbles


The U.S. dollar rallied on Friday after the Bureau of Labor Statistics released July jobs data that easily beat Wall Street expectations. The sharp surge of the greenback pushed the British Pound to the lowest level in more than one week.

The currency pair GBPUSD tumbled more than 0.7 percent to trade at $1.30400 – the lowest since July 26th – in North American trading session, looking set to close the week lower. The greenback was supported strongly after the highly-awaited report showed the country created 209,000 new jobs last month.

The reading topped Wall Street forecasts for 175,000 jobs to have been added in July. In total, the U.S. has created nearly 450,000 new jobs in the past two months, pushing the jobless rate back down to a 16-year low of 4.3% from 4.4% recorded in the previous month. On a monthly basis, pay rose 0.3% in July to an average of $26.36 an hour, remaining at the year-over-year growth rate of 2.5% as in the prior month.

Trade suggestion

Sell Stop at 1.30400, Take profit at 1.30000, Stop loss at 1.30600

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

Kraft Heinz Raises Q2 Dividend As Earnings Helped by Cost Cuts Amid Weak U.S. Sales


Shares of Kraft Heinz Co added more than 1% in after-market trading on Thursday after the food giant reported sales missed forecasts but adjusted earnings above Wall Street expectations.

Kraft Heinz’s shares edged 1.14% higher to trade at $87.50 in extended session after the food and beverage conglomerate posted net income of 1.16 billion, or 94 cents per share, in the latest quarter. This marked a rise of 50.5 percent compared with $770 million, or 63 cents a share, in the year-ago quarter.

Excluding certain items, the Chicago, Illinois – based company earned 98 cents a share in the quarter, up from 85 cents a share a year ago and 3 cents ahead of analysts’ average estimate.

Due to a decline in U.S. sales, which account for more than two-thirds of Kraft’s total revenue, the company’s revenue dropped 1.7 percent to $6.68 billion from $6.79 billion a year ago and missed analysts’ average estimate of $6.73 billion.

However, Kraft Heinz raised quarterly dividend to 62.5 cents a share from the prior quarterly dividend rate of 60 cents a share as the company kept a tight leash on costs. Selling, general and administrative expenses were reported to plunged by 15 percent to $760 million in the second quarter ended July 1.

Trade suggestion

Buy Stop at 87.50, Take profit at 89.00, Stop loss at 87.00

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

USD/JPY

From GMT 12:30 04/08/2017
Till GMT 21:00 04/08/2017

Buy at 110.600
Take profit at 111.000
Stop loss at 110.400

Re: Market Outlook by Capital Street FX

PostPosted: Mon Aug 07, 2017 6:03 pm
by CSFX.Support
Daily Report on August 07, 2017



Asian shares rebounded higher, returning to the highest level in almost 10 years following a strong advance on Wall Street last Friday. Strong U.S. hiring data bolstered optimism about economic growth in the world’s largest economy and sent U.S. stock benchmark index higher at the close with the Dow Jones Industrial Average ending at its eighth straight record high.

The MSCI Asia-Pacific Index jumped 0.6 percent to trade close to its highest since December 2007 while Japanese shares also gained ground as the currency Yen clung to losses. Indeed, Japan’s Topix index rose 0.6 percent, on course for a two-year high, boosted by earnings data at Toyota Motor Corp which showed first-quarter profit beat estimates and rosy full-year forecast.

Benchmarks in Australia, South Korea and Hong Kong also edged higher. The S&P/ASX 200 Index in Sydney climbed 1 percent, with gains led by shares of miners and banks. Meanwhile, South Korea’s Kospi index jumped 0.5 percent and the Hang Seng Index rose 0.4 percent. By contrast, Shanghai Composite was flat.

Crude oil prices edged lower with West Texas Intermediate crude and global benchmark Brent losing 0.1 percent. Data released by the energy services firm Baker Hughes on Friday showed U.S. drillers cut one oil rig in the week to Aug. 4, bringing the total count down to 765. Representatives of Organization of Petroleum Exporting Countries meet with their allies in Abu Dhabi on Monday and on Tuesday to discuss ways to boost compliance with their supply reduction agreement.



Technicals

NZDUSD




NZDUSD has been tracing a sharp downtrend as the currency pair has been under downward pressure exerted by two MAs that are hanging above the price action. While the RSI index is pointing downward, ADX index is heading higher with a widening gap between –DI and +DI lines, suggesting further declines for the pair.

Trade suggestion

Sell Stop at 0.73700, Take profit at 0.73100, Stop loss at 0.74000



USDCAD




USDCAD rebounded higher following a period of correction as the pair had jumped to the highest since mid-July. The RSI index is pointing upwards, whereas, ADX index is heading higher with a widening gap between +DI line and -DI line, signaling further advances for the currency pair. A resistance at 1.27600 is within the sight.

Trade suggestion

Buy Stop at 1.26800, Take profit at 1.27600, Stop loss at 1.26400



EURAUD



EURAUD bounced back from a significant support at 23.6% Fibonacci retracement after a period of moving sideways around this level. The price action has crossed over the long-term MA50 from below after having surpassed the short-term MA20. The pair is expected to extend its upbeat moves with RSI index is at as high as 59.36.

Trade suggestion

Buy Stop at 1.49100, Take profit at 1.49600, Stop loss at 1.48900



GBPNZD




GBPNZD has been on a steady rise after having bounced back from a firm support at 1.75650. The price did not only breach the 61.8% Fibonacci retracement but also surpassed two MAs from below. Both RSI and ADX indices are soaring, which suggests the pair may head higher to retest a resistance at 1.77900.

Trade suggestion

Buy Stop at 1.77200, Take profit at 1.77900, Stop loss at 1.76900



BRENT




Brent crude price retreated as the bullish trend failed to sustain further advances. Lower highs were formed in the chart, showing a weakening bullish momentum. The price action has fallen below two MAs, which suggests a reversal into a downtrend. With RSI having dropped to as low 46.100, the commodity’s price is expected to test the 23.6% Fib. retracement.

Trade suggestion

Sell Stop at 51.700, Take profit at 51.000, Stop loss at 52.000



CAC40



As can be seen from the chart, the stock benchmark index has been advancing with its price action breaking out of a slopping downward trading range. RSI index is pointing upwards, whereas, ADX index is heading higher with a widening gap between +DI line and -DI line, signaling further advances for the index.

Trade suggestion

Buy Stop at 5220.00, Take profit at 5260.00, Stop loss at 5200.00



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Sterling Ticks Down While Mining Shares Advance, FTSE 100 Index Trades Higher


U.K. shares extended gains on Monday, bolstered by strength in mining stocks and a weakening British Pound. The FTSE 100 index added nearly 0.2% to trade at a six-week high at 7525.00 in afternoon session after having closed higher by 0.5% last Friday.

The blue-chip benchmark index hovered around the highest level since June 19th, 2017 with a sharp increase of 2% last week – the biggest weekly gain since December. Mining shares led gains in the market due to the fact that iron ore prices jumped by roughly more than 6%.

Shares of BHP Billiton PLC climbed by more than 1.7 percent while shares of its rival Rio Tinto PLC also added around 1.73 percent. Shares of iron ore producer Anglo American drove up 2% while Glencore PLC witnessed even more impressive up moves with an increase of nearly 2.5% in equities.

The Baar, Switzerland- based commodities miner and trader is scheduled to publish second-quarter results on Thursday.

Shares of oil majors also traded higher even though crude oil price remained weak. Shares of BP PLC added 0.53% while those of Royal Dutch Shell PLC edged 0.36% higher.

Meanwhile, Sterling reversed lower against most of its peers on Monday, paring its gains versus the U.S. dollar in early trade. The pair GBPUSD lost more than 0.15% to linger around $1.3020.

Trade suggestion

Buy Stop at 7525.00, Take profit at 7560.00, Stop loss at 7510.00

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

USD/CAD


From GMT 04:00 07/08/2017
Til GMT 21:00 07/08/2017

Sell at 1.26300
Take profit at 1.25800
Stop loss at 1.26500

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NZD/JPY

From GMT 16:40 07/08/2017
Till GMT 21:00 07/08/2017

Sell at 81.400
Take profit at 81.000
Stop loss at 81.600

Re: Market Outlook by Capital Street FX

PostPosted: Tue Aug 08, 2017 5:53 pm
by CSFX.Support
Daily Report on August 08, 2017



Asian shares were litter changed on Tuesday, taking a breather close to the highest since 2007 following the release of disappointing Chinese trade data. Overnight, U.S. shares advanced on Wall Street with the Dow and the Nasdaq index rising 0.12 percent and 0.51 percent, respectively. The S&P 500 rose 0.2 percent to an all-time high on Monday but its futures index fell 0.1 percent in Asian trading session.

MSCI's broadest index of Asia-Pacific shares outside Japan was be barely changed after giving up modest early gains while Japanese shares retreated. Indeed, Japan's Nikkei and Japan’s Topix index both eased 0.3 percent. Australia’s S&P/ASX 200 Index lost even 0.6 percent, whereas, South Korea’s Kospi index and Hong Kong’s Hang Seng Index swung between gains and losses.

China's main markets remained weak after data released by the Customs General Administration of China showed that exports and imports both grew much less than expected in July. China's export growth was reported to slow to 7.2 percent in July from a year earlier, falling to reach analysts’ expectation calling for a 10.9 percent gain. The reading marked the weakest pace since February.

Meanwhile, imports also witnessed the slowest growth since December. China’s imports jumped 11.0 percent, down from a 17.2 percent rise in the previous month and well below expectations of 16.6 percent growth. China’s trade balance hit a surplus of $46.74 billion for the month, the highest since January. The reading surpassed forecasts for $46.08 billion.

Crude oil prices extended losses in Asian trading on Tuesday with both global benchmark Brent crude futures and U.S. crude futures down 0.4 percent. The decline came after news showed a recovery in output at Libya's largest oil field known as Sharara field. Production from the field that could give an output of 270,000 bpd returned to normal after a brief disruption, the National Oil Corporation (NOC) reported on Monday.



Technicals

NZDJPY




NZDJPY has been tracing a steady downtrend after reversing lower from six-month highs that logged on July 27th. The currency pair has been under downward pressure from the short-term MA20 that is hanging above the price action. The RSI has stepped into the oversold zone while the ADX index is heading higher, indicating a strengthening bearish force in the market.

Trade suggestion

Sell Stop at 81.250, Take profit at 80.700, Stop loss at 81.500



GBPCHF




GBPCHF has been moving sideways round the level of 1.26700 since last Friday. The short-term MA20 has crossed over the long-term MA50, confirming a reversal into the downtrend. RSI continued to head down, moving to as low as 44.29, which indicates a market dominated by sellers. The pair is forecast to trade lower to hit a support at 1.26000.

Trade suggestion

Sell Stop at 1.26700, Take profit at 1.26000, Stop loss at 1.27000



GBPJPY


GBPJPY has been edging lower with lower highs and lower lows formed in the price chart. With the price action breaking out of a shrinking trading range from above and sellers jumping into the market (as indicated by RSI index that is at as low as 36.36), the pair is expected to trade lower, likely to test a support at 143.600.

Trade suggestion

Sell Stop at 144.200, Take profit at 143.600, Stop loss at 144.500



WTI




U.S. rebounded higher following a period of trading sideways as the price twisted with a couple of moving averages. The RSI index has been on a rise, hitting as high 57.48, indicating a strengthening bullish momentum in the WTI market. The commodity is anticipated to extend its up move in an attempt to test a resistance at 50.370.

Trade suggestion

Buy Stop at 49.600, Take profit at 50.370, Stop loss at 49.300



GOLD



Gold has inched higher, sending its price action above both the long-term MA50 and the short-term MA20. While the RSI index is soaring to as high as 61.75, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, which suggest further advances for the precious metal. A resistance at 1265.00 is within the sight.

Trade suggestion

Buy Stop at 1261.00, Take profit at 1265.00, Stop loss at 1259.00



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U.S. Dollar Rallies After JOLTS Job Openings Jump More Than Expected


The U.S. dollar jumped sharply versus all of its major rivals after data showed the number of job openings in the U.S. rose much more than expected in June. The surge in the greenback weighed the pair EURUSD back down the lowest level since last Friday.

Indeed, euro plunged to as low as $1.17600, down more than 0.3 percent on the back of the release of the monthly Job Openings and Labor Turnover Survey on Tuesday. The U.S. Labor Department reported that the number of job openings, excluding the farming industry rose to 6.163 million in June from 5.702 million a month earlier. May’s figure was revised upwards from the original reading of 5.666 million.

June’s reading did not only mark a fresh record but also easily smashed analyst’ forecast calling for an increase to 5.775 million in the number of job openings. The dollar was supported after the data release as it bolstered optimism over an improving U.S. labor market where employers actively seek workers.

Meanwhile, hiring decreased, reflecting the fact that companies are having trouble finding employees with enough skills. As a result, wages are expected to be raised, which would boost spending and send inflation towards the central bank’s target of 2%.

Trade suggestion

Sell Stop at 1.17600, Take profit at 1.17000, Stop loss at 1.17900

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

Marriott Downgrades Q3 Earnings Forecast, Shares Lose 3% in Extended Session


Shares of Marriott International Inc. lost nearly 3% in late trading after having closed the regular trading session 1.1% higher. The hospitality company reported a better-than-expected Q2 earnings but forecasts profit in the current quarter would come below analysts’ expectations.

Marriott shares plunged by 2.99% in after-hours trading to trade at $103.00 per shares after earnings results showed net income of $414 million, or $1.08 a share on sales of $5.8 billion for the three-month period to June 30. This marked an increase from earnings of 97 cents a share on sales of $3.9 billion recorded in the same period last year.

After adjustments for one-time items, the world’s largest hotel chain claimed earnings of $1.13 a share which easily topped market forecast calling for adjusted earnings of $1.01 a share on revenue of $5.64 billion.

Marriott on Monday said it would partner with China’s Alibaba Group Holding Ltd on a travel venture that would allow Chinese travelers to book rooms at Marriott hotels via Alibaba’s travel service platform known as Fliggy.

Despite the plan to aim at the growing number of Chinese citizens travelling abroad who are expected to take an estimated 700 million trips over the next five years, Marriott anticipates its forecast for earnings in the third quarter to be in a range of 96 cents to 99 cents a share, which is slightly lower than analysts’ expectations of $1.01 a share. Revenue the company expects to earn this year from its rooms in North America is forecast to rise between 1 to 2 percent in fiscal 2017, a decrease from its previous forecast of an increase of rise of 1 to 3 percent.

Trade suggestion

Sell Stop at 103.00, Take profit at 100.00, Stop loss at 104.00

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

GBP/AUD


From GMT 06:00 08/08/2017
Till GMT 21:00 08/08/2017

Sell at 1.64550
Take profit at 1.63900
Stop loss at 1.64800

Re: Market Outlook by Capital Street FX

PostPosted: Wed Aug 09, 2017 5:09 pm
by CSFX.Support
Daily Report on August 09, 2017



Asian shares dropped while investors piled into safe-havens assets such as U.S. Treasuries, gold, Swiss Franc and the yen amidst escalating tensions on the Korean peninsula. MSCI's broadest index of Asia-Pacific shares outside Japan plunged 0.7 percent, while Japanese equities were broadly lower due to the fact that the stronger yen sapped investors' appetite.

Japan's Nikkei index and Topix index fell 1.5 and 1.3 percent, respectively. South Korean shares shed 0.9 percent, while the won sank around 0.7 percent to 1,136.4 to the dollar. By contrast, the Swiss Franc rallied versus most of its rivals, jumping to a one-week high against the U.S. dollar. Gold futures advanced by 0.4 percent to $1,265.32 an ounce, extending their rally after climbing 0.3 percent on Tuesday.

In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is "carefully examining" plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

Crude oil prices remained weak even after the American Petroleum Institute on Tuesday reported that U.S. inventories dropped by 7.893 million barrels at the end of last week, far more than the 2.2 million barrels decline seen. The U.S. Energy Information Administration is scheduled to release its official weekly petroleum status report later in the day.



Technicals

NZDJPY



NZDJPY has been tracing a steep downtrend which sent the currency pair to seven-week lows at 80.413. The price action has breached a significant level at 61.8% Fibonacci retracement while the RSI index has entered the oversold zone. With ADX index has still been on a rise, the pair is expected to test a support at 50.0% Fib. level.

Trade suggestion

Sell Stop at 80.300, Take profit at 79.700, Stop loss at 80.600



GBPUSD



GBPUSD has been moving sideways following a sharp down move that pushed the currency down to the lowest level since July 21st. The pair looked set to tick down further as the market has been dominated by sellers, not to mention downward pressure exerted from two MAs hanging above the price action. A support at 23.6% Fibonacci retracement is expected to be tested.

Trade suggestion

Sell Stop at 1.29700, Take profit at 1.29200, Stop loss at 1.29900



CADJPY



CADJPY has been trading lower, dropping to the lowest level since early-July at 86.626. The pair bounced back a little bit due to a correction after the market had been sent to the oversold zone. However, downbeat moves are forecast to extend as the ADX index continues to point upwards. A support at 86.000 is within the sight.

Trade suggestion

Sell Stop at 86.600, Take profit at 86.000, Stop loss at 86.900



USDCAD



USDCAD extended its up moves following a period of consolidation. With the support from two MAs lingering below the price action, the currency pair is anticipated to inch higher in an attempt to test a resistance at 1.27600. RSI and ADX indices are rising, confirming further upbeat moves.

Trade suggestion

Buy Stop at 1.27000, Take profit at 1.27600, Stop loss at 1.26700



GOLD


Gold futures prices have been trading sideways around the level 1265.00 after having hit the highest level since last Friday. The market has still been dominated by buyers as RSI is at as high as 61.59. With support from two MAs, the precious metal price is forecast to extend its rally to a resistance at 1270.00.

Trade suggestion

Buy Stop at 1265.00, Take profit at 1270.00, Stop loss at 1263.00



DAX 30




Germany’s DAX 30 Index gapped down on Wednesday, sending its price action below both a significant level at 23.6% Fibonacci retracement and two moving averages that had been lingering below the price action. RSI fell below the level 50, indicating a strengthening bearish momentum in the market. A support at 12090.00 is expected to be tested.

Trade suggestion

Sell Stop at 12200.00, Take profit at 12090.00, Stop loss at 12250.00



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

Swiss Franc Advances to One-week Highs Against Dollar Amid Escalating Geopolitical Tensions


The Swiss Franc rallied versus most of its rivals, jumping to a one-week high against the U.S. dollar amidst rising geopolitical tensions stemming from the Korean Peninsula.

The pair USDCHF plunged more than 0.7 percent in Asian trading session to trade near the lowest level in one week at 0.96688 franc. The currency recovered a little bit following a retreat to 0.96566 – its weakest since August 02nd as geopolitical tensions have ramped up.

In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

Trade suggestion

Sell Stop at 0.96650, Take profit at 0.96300, Stop loss at 0.96800

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

Investors Flock Into Safe-havens Assets, Gold Jumps The Most in Two Months


Gold futures rallied on Wednesday as investors moved toward safety plays amidst escalating tension between North Korea and the U.S. that dragged down U.S. shares. U.S. stock benchmark index extended a modest retreat from record levels logged earlier this week.

The precious metal surged 1.24 percent to trade at $1,272.00 an ounce in North American trading session, looking set to record the biggest jump in two months. Investors piled into safe-havens assets like gold as geopolitical tensions have ramped up, sapping investors’ appetite for risky investments.

In response to a Washington Post report on North Korea’s nuclear capabilities, U.S. President Donald Trump late Tuesday said that any threat North Korea presented to the United States would be met with “fire and fury.” Just hours after Trump’s threats, North Korea announced that it is “carefully examining” plans for firing a ballistic missile toward U.S. Pacific territory of Guam.

The Dow Jones Industrial Average lost nearly 0.3 percent, the S&P 500 index shed 0.36 percent while the Nasdaq Composite Index even declined more sharply, slipping more than 0.7 percent.

Trade suggestion

Buy Stop at 1273.00, Take profit at 1278.00, Stop loss at 1271.00

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

AUD/NZD


From GMT 08:30 09/08/2017
Till GMT 21:00 09/08/2017

Buy at 1.07800
Take profit at 1.08200
Stop loss at 1.07600

Re: Market Outlook by Capital Street FX

PostPosted: Thu Aug 10, 2017 12:06 pm
by CSFX.Support
Daily Report on August 10, 2017



Asian shares pared early gains to reverse lower on Thursday as investors have still been under pressure stemming from tension surrounding the Korean peninsula. The MSCI Asia Pacific Index was little changed while Japanese shares were mixed. The Nikkei 225 Stock Average added 0.1 percent and the Japan’s Topix index was little changed.

Australian equities climbed with the Australia’s S&P/ASX 200 Index advancing 0.4 percent. By contrast, South Korea’s benchmark gauge extended declines with the Kospi index falling 0.2 percent following a decline of 1.1 percent on Wednesday. European stocks also fell on Thursday. While the The Stoxx Europe 600 shed 0.49%, Germany’s DAX 30 index and France’s CAC 40 index slipped 0.69% and 0.36%, respectively.

Crude oil prices advanced on Thursday after data showed U.S. crude inventories fell more than expected last week. The Energy Information Administration on Wednesday reported that U.S. crude stockpiles dropped by 6.5 million barrels last week, which was steeper than the expected decrease of 2.7 million barrels. However, refineries were reported to boost their output to the highest percentage of capacity in 12 years with nearly 17.6 million barrels of crude last week.

According to data released by the Cabinet Office, Japan's core machinery orders unexpectedly inched lower for a third consecutive month in June. Core orders were posted to have decreased 1.9 percent in June from the previous month following a 3.6 percent tumble in May.



Technicals

NZDUSD



NZDUSD has been under downward pressure exerted by two MAs that are hanging above the price action, especially the short-term MA20. The price action failed to cross over this dynamic resistance and has even fallen to as low as 0.72600 - the lowest level since July 18th. With a market dominated by sellers, the pair is expected to test a support at 38.2% Fibonacci retracement.

Trade suggestion

Sell Stop at 0.72600, Take profit at 0.72000, Stop loss at 0.72900



EURJPY



EURJPY’s price action has breached a significant level at 61.8% Fibonacci retracement after having failed to surpass a resistance at 129.500. The pair retested a low of 128.650 and looked set to extend its downtrend. While the RSI index is pointing lower, the ADX index is on a rise with a widening gap between the -DI and +DI lines, signaling further declines for the pair.

Trade suggestion

Sell Stop at 128.600, Take profit at 128.100, Stop loss at 128.800



AUDNZD



AUDNZD has been on a sharp uptrend which sent its price action above the 61.8% Fibonacci retracement. The pair is retesting a high at 1.08453 – the highest level since July 20th. With the support from two MAs lingering below the price action, the pair is anticipated to trade higher, likely to attempt a resistance at 1.09000.

Trade suggestion

Buy Stop at 1.08500, Take profit at 1.09000, Stop loss at 1.08300



Natural Gas




Natural gas futures prices have been trading around a level at 2.8800 after having surged to the highest level since July 31st. After a short correction, the price extended its rally. While the RSI index is soaring to as high as 68.06, the ADX index is also on a rise with a widening gap between the +DI and –DI lines, which suggest further advances for the commodity

Trade suggestion

Buy Stop at 2.8950, Take profit at 2.9500, Stop loss at 2.8700



SILVER




Silver has been tracing a strong uptrend after having surpassed a resistance at 16.850. As can be seen from the chart, the RSI index has been on a rise, hitting a high of 76.31, indicating a strengthening bullish momentum in the WTI market. ADX index is also edging higher, signaling further advances.

Trade suggestion

Buy Stop at 17.060, Take profit at 17.260, Stop loss at 16.960



FTSE 100



After a period of moving sideways above the level of 7480.00, U.K.’s FTSE 100 index gapped down and fell into a shrinking trading range. The price action also crossed over both the short-term MA20 and the long-term MA50 from above, suggesting a reversal into a downtrend. A support at 7360.00 is within the sight.

Trade suggestion

Sell Stop at 7410.00, Take profit at 7360.00, Stop loss at 7435.00

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

RBNZ To Hold Rates Until Q3 2019, New Zealand Dollar Sinks

New Zealand dollar lost ground versus most of its peers on Thursday after its central bank held interest rates at a record low for a fifth consecutive time and announced that the rate might not be hiked in the next two years due to weak inflation.

The kiwi dropped more than 0.4 percent against its American counterpart to trade at $0.7308 – the lowest level since July 18th. In a statement after the Reserve Bank of New Zealand (RBNZ) having kept the official cash rate at 1.75 percent, Governor Graeme Wheeler said that “Monetary policy will remain accommodative for a considerable period”.

New Zealand’s inflation slowed to 1.7 percent in the June quarter after a rise of 2.2 percent in the three-month period to March which marked the first time in five years that inflation returned to the central bank 2 percent goal. For the first quarter of 2018, RBNZ forecast the rate would decline to 0.7 percent – lower than it previously expected.

Meanwhile, a strong New Zealand dollar continues to put pressure on import prices and suppresses inflation. Governor Graeme Wheeler claimed that “A lower New Zealand dollar is needed to increase tradables inflation and help deliver more balanced growth,” given the fact that the local dollar has added 6 percent so far this year.

Trade suggestion

Sell Stop at 0.73000, Take profit at 0.72600, Stop loss at 0.73200

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

GBP/JPY


From GMT 07:00 10/08/2017
Til GMT 21:00 10/08/2017

Sell at 142.600
Take profit at 142.000
Stop loss at 142.900