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  #211  
Old 03-08-2017, 01:13 AM
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EUR/USD Fundamental Analysis: March 8, 2017

The EUR/USD pair continued with its ranging and consolidation movement for the second consecutive day, with this current trend expected to continue for the subsequent trading session as well. There are no major economic news releases happening within the international market which might influence the movement of the EUR/USD pair, and this is why the market has been incessantly seeing this ranging and consolidation.

However, this particular movement coming from the currency pair is also part of the pairís preparation for the onslaught of important economic data which are expected to be released in the middle of this week, especially since these economic data would most likely induce a lot of unprecedented volatility in the EUR/USD pair. So until these data gets released in the market, it is highly likely that the currency pair would continue consolidating. The USD experienced some minor corrections throughout the course of yesterdayís trading session, and this has become evident in the state of the EUR/USD pair after the currency pair dropped slightly in value and is now trading at just over 1.0550 points. The pair is expected to maintain its hold on this particular barrier as more buys are expected to come in at this region. This could also cause the currency pair to move towards 1.0600 points and will continue consolidating for the rest of the trading session.

There are no major news releases expected from the European Union for today but the US will be releasing its ADP employment data later today. This employment data is usually touted as a precursor to the NFP report and although its importance is now being overlooked, it still serves as a necessary gauge on how the the NFP report would eventually pan out. Any fluctuations in this particular data are most likely to show in the NFP report as well.
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  #212  
Old 03-08-2017, 02:27 AM
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GBP/USD Fundamental Analysis: March 8, 2017

The GBP/USD pair continues to trade very weakly during the previous trading session. This could be initially attributed to the strengthening of the USD which was reflected across the board, but what has really affected the pound here is the fundamentals underlying the UK economy, as well as various uncertainties which is constantly putting pressure on the value of the GBP/USD pair.

Once the Article 50 gets invoked, the Brexit process is pretty much locked in, and this means that there would be several negotiations between EU and UK leaders immediately after the invocation. UK leaders are expected to be stricter with regards to EU trade access since the majority of them would like the UK to realize the several benefits that it would lose once the country finally becomes a separate nation from the European Union. This uncertainty as well as the tediousness of the Brexit process is likely to take its toll on the GBP/USD pair and this is starting to become more evident as the currency pair continues its weak trading stance, with the currency pair just hovering over 1.2200 points.

The UK will be releasing its yearly budget release today, and the country is expected to paint a pretty picture of their economy in order to boost public sentiment. This might give temporary resolve for the sterling pound but would eventually fizzle out as the fundamentals continue to put downward pressure on the state of the GBP/USD pair.
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  #213  
Old 03-08-2017, 03:22 AM
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March 8, 2017
Pharma Stocks Drop as Trump Posts Drug Prices Tweet
Pharmaceutical stocks plummeted on Tuesday after Donald Trump plunged back into the drug pricing debacle after the US President tweeted a pledge to minimize the costs of medicinal products for US citizens. As stated in a tweet sent at 9:00 A.M., New York Time, Trump stated that his administration is currently working on a system which will enhance competition in the pharmaceutical industry. Analysts are saying that it is highly curious that Trumpís tweet comes immediately after the House healthcare reform bill, which is indicative of the administrationís efforts on drug and pharmaceutical pricing.
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  #214  
Old 03-08-2017, 04:49 AM
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USD/CHF Technical Analysis: March 8, 2017

The U.S. dollar against the Swiss Francs continues to rally from 0.9860 as the intraday sentiment maintained in the upper channel as it tested on 1.0342 Resistance level. However for a medium term trend, traders should be careful to top closed to 1.0342 mark. In the lower channel it broke at 1.0008 level that implies a completion of the rally from 0.9860 mark which will be reversed to the downside for 0.9860 region.


It seems that the pair will maintained its medium term lateral pattern. A clear break to the resistance of 1.0342 mark signifies the strength of this level. Contradictingly, the pair will maintain its neutral stance. If the pair continues to fall down, the next support level would from 0.9443 up to 0.9548 zone. A strong break at 1.0342 mark with the target of 38.2% retracement level of 1.8305 then 0.7065 to 1.1359 area.
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  #215  
Old 03-08-2017, 05:19 AM
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  #216  
Old 03-08-2017, 05:42 AM
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March 8, 2017

Canada’s Economy Lead Over other G7 Countries

The Canadian economy is expected to gain 2.4% this year with equal expectations as of the United States and in the lead of other countries included in the Group of 7. The estimates were based from the Organisation for Economic Co-operation and Development

(OECD) release.

The international organization formerly mentioned about Canada’s possible economic improvement by 2.1 in 2017, which came in better and still appeared to be modest compared with the previous years of recoveries from economic decline.

The Paris-based institution hike up its projections for the selected biggest economies in the world which further includes USA and China, however, its evaluation for the world economy kept steady at 3.3% versus 3% in 2016.

Furthermore, the report mentioned that the US and Canada would likely outstrip other seven major economies which involve Germany as the next highest among the G7 with 1.8% growth in GDP.

For 2018, it is expected that the U.S. economy will earn 2.8% and 2.2% growth for Canada. Moreover, the forecast for the global economic growth is said to be 3.6%.
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  #217  
Old 03-08-2017, 06:02 AM
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March 8, 2017


Dollar Trimmed Down after a Two-month High

The surge of U.S. dollar decelerated minimally on Wednesday session after reaching a two-month high against a basket of currencies last week. Investors are cautiously waiting on the sidelines as the Friday’s U.S. jobs report is about to be released soon. Moreover, there is a higher chance for a rate hike as the greenback sets in a tight range.

The appreciation of dollar seems like it achieved its limit with the rate hike in March in investors’ mind. Fed deliberating whether there will be a rate hike thrice for this year, this would prompt the central bank to provide hints as the workers’ salaries rise that could bring about inflation.
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  #218  
Old 03-08-2017, 06:09 AM
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March 8, 2017

Pharma Stocks Drop as Trump Posts Drug Prices Tweet

Pharmaceutical stocks plummeted on Tuesday after Donald Trump plunged back into the drug pricing debacle after the US President tweeted a pledge to minimize the costs of medicinal products for US citizens. As stated in a tweet sent at 9:00 A.M., New York Time, Trump stated that his administration is currently working on a system which will enhance competition in the pharmaceutical industry. Analysts are saying that it is highly curious that Trump’s tweet comes immediately after the House healthcare reform bill, which is indicative of the administration’s efforts on drug and pharmaceutical pricing.
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  #219  
Old 03-09-2017, 04:29 AM
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USD/CAD Technical Analysis: March 9, 2017

The Canadian dollar was able to preserve its stance compared with the US dollar yesterday. The loonie received some support from the positive figures of Trade Balance a few days ago. Investors wait with expectation for the statistics of US labor market which could establish a route for the USD/CAD.

The pair was trading flat and toggled in the middle of the Wednesday night session. The price is positioned in tight channels of 1.3400 - 1.3430 all throughout the night.

Moreover, the USD resumed its short-term bullish trajectory during the earlier trades. The major further pulled out from the 1.3400 region and rallied higher heading to 1.3470.

As rolled out from the 4-hour chart, the price was developing beyond the moving averages. It further mentioned the 100 and 50-EMAs preserved its bullish pattern while 200-EMA move over the neutral grounds. Resistance touched 1.3470 mark, support hit 1.3400.

The MACD histogram is positioned within the same level confirming buyerís strength. RSI oscillator hovered near the overbought readings and expected to support a fresh upward movement

The bullish market structure is expected to remain in its place in the short-term. Bullsí next target is at 1.3470.
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  #220  
Old 03-09-2017, 04:51 AM
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EUR/USD Technical Analysis: March 9, 2017

The trend of EURUSD made little changes prior to the onset of ECB monetary policy meeting. The German Industrial Production came in green which provided minor support for the European currency.

The bears continued to dominate the market on Wednesday. During the whole night of trading, the sellers persist in pushing the major lower and touching 1.0550 level in the earlier trades. While European traders struggled to break the mentioned handle.

The 4-hour chart showed the pair cut through the 50-EMA towards a lower point. The timeframe also outlined the price was situated under the moving averages and directed downwards.

Resistances landed at 1.0600, support is at 1.0500.

The MACD histogram has its seat in the centerline. An entry towards the negative zone will signal increasing strength for the sellers. The positive territory, on the other side, will indicate buyer’s control within the market. RSI hovered around the neutral territory.

Any action under the 1.0550 region would trigger bearishness to 1.0500 mark.
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  #221  
Old 03-10-2017, 03:38 AM
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USD/CAD Fundamental Analysis: March 10, 2017

The USD/CAD pair continued its ranging and consolidation manner without any visible signs of weakness in the pair. The USD had previously weakened slightly against its other peers but has managed to maintain its current stance against the Canadian dollar which is good news for the bulls. Oil prices have been relatively stable during the past trading day, which means that the Canadian dollar has also remained stable and has resulted into a sort of deadlock for the USD/CAD pair.

However, it is important to note that the USD/CAD pair has recently been in a tight trading barrier near 1.3500 points during the past two sessions, the same region which the currency pair has consistently failed to break through during the previous couple of months. The bulls have become very wary of this barrier since this has caused them to drop down by over 500 pips and the majority of the bulls would not want to be caught within this barrier again. As of the moment, the USD/CAD pair is expecting for a very strong NFP report, as well as a higher USD value as a reaction to the said report. In addition, the March rate hike is also pretty much in the bag and the ADP employment report is also expected to come in as highly positive.

Aside from the NFP report set to be released today, the market will also be anticipating the release of the Canadian employment data. The bulls are advised to remain at the sidelines of this pricing barrier until such time that the activity clears and becomes safe enough for more trading.
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  #222  
Old 03-10-2017, 03:40 AM
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GBP/USD Fundamental Analysis: March 10, 2016

The GBP/USD pair did not exhibit that much activity yesterday as compared to the EUR/USD pair, with the euro taking mostly of the spotlight and the sterling pound merely benefitting from the action taking place within the euro. However, in spite of the pair’s lack of action, the GBP/USD pair was able to rise from its bottom rung and has managed to create some modicum of strength for itself.

The GBP/USD pair was previously consolidating within its lows of 1.2100 points and looked none for the worse, but since the USD had an ambiguous trading day yesterday as well as the euro, this has helped the sterling pound to rise towards 1.2150 and went close to breaking through 1.2200 before finally settling at just under that particular range. The GBP/USD pair had a very positive close during the previous session but the pound is not yet out of danger as the NFP is scheduled to be released today, with the NFP report expected to cough up some very positive numbers. This might then cause the pound to bounce slightly which could be met by a lot of selling, thereby making the bulls somewhat wary of investing into the currency pair.

Although the UK will be releasing its manufacturing data later today, this data would most likely be dwarfed by the NFP report. The support levels for the pair could possibly come in at 1.2100 while the resistance barrier for the pair could possibly be at 1.2200 points. If the pair manages to surpass 1.2200 after the release of the NFP report, then the currency pair could possibly be subject to added pressure in the coming days.
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  #223  
Old 03-10-2017, 03:50 AM
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EUR/USD Fundamental Analysis: March 10, 2017

The EUR/USD pair was again met by a reversion coming from the pair’s strong support barrier. However, this was not anymore due to the movement of the USD, since the bounce has been mostly attributed to the impending release of the NFP report. The 1.0500 region has consistently remained solid as the pair’s support barrier, and now that the NFP report has affected the course of the currency pair, the pair’s bulls have now become confused, especially since most of them do not want to show their strength before the NFP report comes out if ever the report falls short of market expectations.

During the past weeks, the EUR/USD pair has been has been shooting up and down due to the volatility of the USD, with the euro as the currency’s docile partner. However, the situation yesterday turned out to be slightly different as the ECB rate announcement and press conference took place. The ECB maintained its current rates but ECB Chair Mario Draghi came out as very hawkish during the succeeding press conference, with Draghi having absolutely no qualms with regards to the current state of the European economy. In his conference, Draghi highlighted that EU employment rates were finally perking up, and the expected concerns within the EU economy failed to materialize, and this has triggered the EUR/USD pair to move up towards 1.0600 from 1.0500 points and is currently trading at just under 1.0600 points. The currency pair’s stance might have been much higher were it not for the impending release of the NFP report and the ADP report which is scheduled to be released next Wednesday.

The market will now be solely focusing on the release of the NFP report today. Market expectations for the report are now higher than ever due to a positive ADP employment report. Aside from the NFP, the market is also placing its bets on a possible rate hike due next week, and the EUR/USD pair should be able to have a strong support barrier at 1.0500 and a resistance barrier at 1.0700 in case the data falls short of market expectations.
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  #224  
Old 03-10-2017, 04:03 AM
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EUR/USD Technical Analysis: March 10, 2017

The European currency was at the center of attraction in consideration of the ECB meeting held yesterday. Investors predicted that regulators would keep the rate steady and deemed that the central bank will not deal with some uncertainties within the European elections.

Sellers successfully drove the price lower at night. Having posted its daily low near 1.0524, the EURUSD made a reversal of its direction. The minor dollar retracement initiated a move for profit-taking on the back of the sell-off currently occurred involving the pair.

Buyers, on the other side, lead the price towards 1.0550 during earlier trades and gapped the mentioned region amid late EU session.

The 4-hour chart identified the price was under the moving averages and these MAs moved downwards. Resistance came in at 1.0600, support touched 1.0550.

The MACD is positioned around the negative zone. In case the histogram remained within that territory, the position of the seller will reinforce. Moreover, the RSI indicator moves close to the undervalued area, supporting a higher move.

According to forecast, the major hovered in the descending channel and the EUR was kept intact in the pressured area. A close below the 1.0550 level would prompt the pair to continue its declines to 1.0500 mark.
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  #225  
Old 03-10-2017, 04:06 AM
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AUD/USD Technical Analysis: March 10, 2017

Despite the strength imposed by the US dollar, the Australian currency weakened on the back of the negative inflation data of China.

The downbeat sentiment of the market continued until yesterday. The sellers continued to be in the driver’s seat and moved downwards. They shifted slowly during the Asian hours and gained momentum in earlier trades.

The Aussie was able to touch 0.7500 level amid post open of Europe. The major resumed its expansion on top of the moving averages, hence all MAs pointed lower as mentioned in the 4-hour chart. The timeframe further outlined the 50-EMA under the 100-EMA crossing the 200-EMA towards a lower point. Resistance entered 0.7550, support is at 0.7500

The MACD indicator declined which confirmed strength for the sellers. RSI indicator is placed near the undervalued ground which expected to favor another move downwards.

A tough break under the handle 0.7500 would pave the way towards 0.7450.
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