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  #256  
Old 04-19-2017, 12:44 AM
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April 19, 2017

IMF Increases International Growth Outlook by 3.5%

The International Monetary Fund has recently increased its outlook for international growth by up to 3.5%, the IMFís fastest rate prediction within a five-year period. Although the said organization retained its outlook for US growth at 2.3% as compared to last yearís 1.6%, it increased the forecasts for the EUís biggest economies, with the UK economy getting the highest nudge with a 0.5% point increase to clock in at a 2% growth forecast for this year. IMF Chief Economist Maurice Obstfeld stated that growth for this year will be mostly based on gains which will be manifested in the fields of both trade and manufacturing.
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  #257  
Old 04-19-2017, 02:04 AM
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AUD/USD Technical Analysis: April 19, 2017

The Australian dollar against the U.S. dollar declined during the Tuesday session intersecting the 200-day Exponential Moving Average. There is a significant support found below at 0.75 level and a sign of supportive candle pattern indicates buying opportunity. If the price breaks above the shooting star on Monday session, this signals a bullish tone. Hence, it is much favorable to go long for this pair. The gold market could support this pair which is influential for this pair.

The pair broke lower than the 0.7535 support level indicating that the price moves upward from 0.7473 up to 0.7610 zone. This could further go down towards the next testing at 0.7473 support level and a breakdown in the said level will complete the downtrend indicating a continuation from 0.7749 mark towards 0.7300 area.
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  #258  
Old 04-19-2017, 02:08 AM
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GBP/USD Technical Analysis: April 19, 2017

The British pound versus the U.S. dollar sustained the bid tone during the Tuesday Asian session. The price climbed from 1.2550 during the night and proceeded towards the 1.2600 level the next morning. The pound rebounded moved downhill during the post-London open. It almost reached the 1.2500 level as the trend turned bullish again. It surged upwards reversing losses as it broke exceeding the 1.2600 mark.

The Resistance level came in at 1.2700 while the support level was seen at 1.2600 mark. If the market is capable of sustaining the psychological levels higher than the 1.2600, the buyers will have the upper hand towards 1.2700.
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  #259  
Old 04-20-2017, 12:18 AM
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EUR/USD Fundamental Analysis: April 20, 2017

The EUR/USD pair encountered a lot of selling pressure after it reached the 1.0750 trading range and was unable to make any significant progress beyond this particular region. The currency pair has tried in vain to break through this range and has since then resorted to consolidating between 1.0750 and 1.0700 region for the duration of yesterdayís session, with the pairís bulls mostly responsible for maintaining the pairís position within its range highs.

There were no economic news released during the previous session and this is why the EUR/USD pair merely engaged in a ranging and consolidating mode with a bullish undertone for the US dollar. The USD strength was not that pronounced and was only able to induce a minor correction in the EUR/USD pair. However, there are some members of the ECB that are saying that economic speculations in the eurozone could possibly exceed market expectations, however this did not make a significant dent in the current value of the EUR/USD pair. The 1.0750 trading range could possibly be a good position for the pairís bears to push the currency pair down, where the selling is expected to surge. The currency pair could also possibly correct towards 1.0600 unless a major market phenomenon shocks the market yet again.

For todayís trading session, the US will be releasing its unemployment claims data as well as its Manufacturing Index data while there are no expected releases from the EU economy. The US Treasury secretary will also be making a speech within the day and this is expected to increase todayís market volatility. On the other hand, the USD is expected to hold its ground and the currency pair will most likely remain within its current range.
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  #260  
Old 04-20-2017, 12:43 AM
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GBP/USD Fundamental Analysis: April 20, 2017

The market had a generally slow day yesterday as there were no significant events and economic news that could have lent some measure of volatility into the market. But the GBP/USD pair is grateful for this breather especially since it has previously bore the brunt of consecutive hits which brought the pair’s value on a much lower level. The effect of Tuesday’s polls announcement was felt during the first few hours of yesterday’s session as the cable pair was able to surpass 1.2800 points but then immediately corrected and was unable to make any progress beyond this particular region.

The 1.2800-1.2850 region for the GBP/USD pair has been characterized with major selling and this has brought the currency pair down towards 1.2800 and is now trading at just over 1.2750 points. The GBP/USD pair is now expected to encounter a somewhat bumpy trading as traders are now starting to assess the effect of the recent snap elections announcement and if this will have an impact on the Brexit negotiations. There is a very stable resistance barrier at 1.2800 points and now that the cable pair is still very prone to corrections, the currency pair could possibly move towards the now-support level of 1.2650 points.

For today’s session, US will be releasing its unemployment claims data as well as its manufacturing index data. A string of speeches is also expected from the BOE governor and the US Treasury Secretary and these are all expected to add up on the pair’s volatility levels. A bumpy trading trend is expected on both directions of 1.2800 points for the entirety of today’s session.
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  #261  
Old 04-20-2017, 02:43 AM
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USD/CAD Fundamental Analysis: April 20, 2017

The USD/CAD pair is now steadily making its way towards the 1.3500 trading range where it is expected to be met with a lot of selling activity. After spending a long time within a very tight range of 150-200 pips, the currency pair has now managed to push itself towards 1.3400 and is now placed at just 1.3480 points. But then again the pair’s bears will now be more interested once it reaches 1.3500 points as there are a lot of selling on this region and they would be able to use as leverage the strong resistance on that particular range which has beaten down several buyers ever since 2016.

The most recent weakness in the Canadian dollar is mostly attributed to a very dismal housing data, which clocked in some brand new home purchases. This was even more magnified by a drop in oil prices, which plummeted to 4% during the previous session. And since the country’s economy is highly dependent on oil prices, any weakness would automatically translate to a weak CAD as well. This has manifested yesterday and brought the USD/CAD pair towards 1.3450 and even towards 1.3500 points. The reason behind the retreat of oil prices is due to concerns on whether the oil production cut agreement would still be effective even as the first half of 2017 ends, and this has induced a major downward pressure on the USD/CAD pair. This pressure on the pair could possibly continue as the market will now be watching whether oil prices would go beyond the highly critical region of $50.

There are no major news expected today from the Canadian economy but we do have the unemployment claims and manufacturing index from the US. If the USD manages to stay afloat, then the USD/CAD pair will be safe at its current range.
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  #262  
Old 04-20-2017, 02:56 AM
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EUR/USD Technical Analysis: April 20, 2017

The Euro against the U.S. dollar was traded in a limited range following a breakout higher than the 10-day Moving Average on Tuesday. It abated during the night trading session while the U.S. dollar is recuperating. However, this is only a fleeting moment as the buyers dominated again the market comes morning. The uptrend impetus also stopped during the mid-European session. Instead, the price reversed and declined towards the 1.0700 region.

A major support is found between 1.0640 and 1.0750 region while the Resistance level positioned between 1.0750 and 1.0906 area. It maintains its uptrend from 1.0569 level following a consolidation at 1.0737 region. It is anticipated that this could further go up in the next trading sessions towards the next target at 1.0800 area. A clear break lower than the short-term support at 1.0670 completes the uptrend. However, if this does not proceed higher, a profit-taking will take place towards 1.0680 level.

Overall, there is a good momentum as shown in the MACD index with signs of crossover signaling to buy this pair coming from a negative territory. However, it shows a downwards sloping trajectory in the hourly chart. The price activity is in the black which is anticipated to move in an upward sloping trajectory implying a higher exchange rate.

On the other hand, the RSI indicator stayed in a neutral range with a reading of 54 that is a form of consolidation. The hourly chart is showing signs for a bullish trend hinting for a next rebound.
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  #263  
Old 04-20-2017, 03:17 AM
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April 20, 2017
New Zealand Inflation Came in Strong in the First Quarter
The inflation rate of New Zealand soared unexpectedly as much as 2.2 percent in the first quarter which is the top-level over five years. Yet, the central is still committed keeping the interest rates low. Hence, the consumer price index (CPI) hovered in the middle range of the Reserve Bank of New Zealand's (RBNZ) within the 1 to 3 percent target range which they have attempted to lift higher for more than a year. The CPI ascended to 1 percent in the first quarter exceeding the expected 0.8 percent which also transposes the annual growth of 2 percent by analysts.

This hike in inflation was influenced by short-term gains because of high oil and food prices, a tax hike on alcohol and tobacco and the increasing costs of housing construction. The inflation is ascending although at a sluggish pace which keeps the RBNZ heedful according to the senior economist of the Australia and New Zealand (ANZ) bank.
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  #264  
Old 04-20-2017, 03:36 AM
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April 20, 2017

March and June Fed Rate Hikes Possible, According to Economists

Several economists are speculating that the US Federal Reserve could possibly be in for two more rate hikes this coming March and June, with the central bank possibly increasing its short-term rates within the week and another rate increase during the Fed’s meeting this coming June. Fed officials have maintained their current rates after they increased their federal funds rate last December 2016. The central bank had already penciled in a total of three possible hikes for this year but refused to indicate the exact date of the implementation of these said rate hikes.
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  #265  
Old 04-24-2017, 11:06 PM
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April 24, 2017

Inflation Weighed on the Economy of Britain

The British economy has cooled significantly in the months of January to March this year because higher inflation put pressure on disposable incomes. The Office for National Statistics is scheduled to publish the estimated GDP data for the first quarter this Friday.

Great Britain almost forgot the impact of the Brexit referendum on June and had an unexpectedly quick recovery. The growth rates in the third quarter of 2016 reached 0.5% while 0.7 for the last quarter.

Based on the forecast of city economists, the country will experience an arduous year ahead linked with a 0.4$ steep decline on growth during the first three months of 2017.

The country previously earned 0.2% which is considered as the weakest performance in the Q1 of 2016.

Moreover, the sterling became weaker which increased the price for imports and drove the inflation towards its three-year high obtaining 2.3%.
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  #266  
Old 04-24-2017, 11:09 PM
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April 24, 2017

ECB Reassures EU Citizens amid French Election Concerns

An official from the European Central Bank has offered his reassurances to a very worried EU audience amid pre-election anxieties stemming from the French national elections by saying that the ECB has enough reinforcements should the said elections result to an eventual fallout. Austrian central bank governor Ewald Nowotny has stated that the ECB has several instruments on hand if ever liquidity becomes a problem for French banks after the conclusion of the said elections. Nowotny is currently part of the ECB’s rate-setting governing council.
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  #267  
Old 04-25-2017, 12:03 AM
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EUR/USD Technical Analysis: April 25, 2017

The currency pair EURUSD breaks upwards towards its renewed highs in 2017 during the Monday opening. The upward momentum reached 1.0900 region and weakened afterward.

The spot became sluggish shortly after that event, falling to the level 1.0850.

Meanwhile, sellers attempted to regain the area but did not succeed because the handle was fully protected by the buyers.

Moreover, sellers continued to strive for the level in the morning. Resistance came in at 1.0900 mark, support approached the 1.0850 range.

According to forecasts, it is probable to consider downward movement near 1.0800 region. The euro is also possible to struggle to fill the gap for the next sessions. In case the buyers remained in control, it will direct the EUR/USD beside 1.0900.
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  #268  
Old 04-25-2017, 12:26 AM
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GBP/USD Technical Analysis: April 25, 2017

The British currency became bearish even after it started with a positive stance. The major climb higher during the opening touching the mark 1.2835. But the upward impetus dwindled eventually.

Amid Asian trades, sellers began to drive the price downwards and sent the GBPUSD towards 1.280 level. The pair eyes some renewed bids within the range and successfully reversed its night losses during the middle of the day.

Moreover, the situation, in general, showed similar condition in the morning while the Cable remained to trade in sideways. Resistance is at 1.2900 region, support highlighted 1.2800 area.

Should the sellers break the 1.2800 mark and the support at 1.2700 will probably the next bearish target.
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  #269  
Old 04-25-2017, 12:50 AM
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AUD/USD Technical Analysis: April 25, 2017

The AUDUSD is kept intact in the pressured area on Tuesday morning as the North Korean issues recurred. While investors have a light spirit due to high paying assets.

Moreover, traders felt slightly nervous on the back of White House invitation to the U.S Senate with regards on the briefing of N.Korea’s situation scheduled on Wednesday.

The flight-to-safety buying will send investors away from Australian Dollar which is one of the currency with high risk and will settle on gold and Japanese Yen which are considered safe haven assets.

Based on the daily swing chart, the main trend is descending. A move with .7610 will help the trend to edge higher. The closing on Monday ended up at .7568 which made a 50% level near .7576 resistance region. This was followed by .7600 and .7611 retracement levels.

Found in the downside is the immediate support .7541 which is a long-term Fibonacci level while .7525 short-term Fibonacci level is followed.
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  #270  
Old 04-25-2017, 01:46 AM
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USD/JPY Technical Analysis: April 25, 2017

The U.S. dollar against the Japanese year broke higher in the beginning of Monday session maintaining the near term uptrend from 108.13 level. Investors were interested in ordering long yen as it is a safe haven that boosted the dollar to go up. If the pair continues to move within the trading range, this uptrend will most likely persist towards the next target at 112.00 region.

On the other hand, a clear break lower the the support area indicates completion of the uptrend at 110.57 mark and the continuation of the downtrend from 115.50 region. This could further go down towards the 108.13 support in the next retest.

A supportive candle opens buying opportunities since the market is inclined to move higher. Monitoring the short term charts would be the helpful to determined the support of buying pressure in the market and a break lower than the psychological levels would not be a good premonition.
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