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  #166  
Old 02-21-2017, 04:15 AM
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AUD/USD Technical Analysis: February 21, 2017

The Australian dollar against the U.S. Dollar closed with minimal trading on Monday session. There is lower than the average volume because of the bank holiday in U.S. Added to this is the reluctance of traders to position trades due to the upcoming monetary policy meeting of the Reserve Bank of Australia.

The price trend is proceeds upward as shown in the daily chart. Its price range is between .7511 and .7732 zone. Although it changed direction and about to go down with signs of bearish closing reversal top at .7732 level seen last Thursday which was verified on Friday. The price at .7732 level will counter the price reversal top indicating extension of the uptrend towards the next target at .7777 level. If the near-term correction persists with the retracement level between .7621 and .7595 as the principal lower target.

The pair closed at .7687 level on Monday's trading while today's session will depend on the market sentiment towards the upward angle at .7681 while the downward angle at .7672 level.

If the market was able to maintain over the .7681 level signalling the dominance of buyers. This could test the pair and further increase the momentum towards the downtrend levels at .7702 and .7717. It is the last potential angle before it reaches the .7732 peak. On the other hand, if the price stayed below the .7672 implying the sellers leading the market. The pair is open to further go down and propel downward toward the next target at .7621 level.

Traders should looks out for an uptrend bias at .7681 and a downtrend towards the .7672 and below.
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  #167  
Old 02-21-2017, 04:30 AM
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February 21, 2017


Brazil Eased Inflation Rate Less than 5 percent in February


Brazil lowered its inflation rate less than 5 percent halfway February for the first time since 2012. This was done to recuperate the economy after its two-year-long recession. The inflation target of Central bank comes in at 4.5 percent and they are open for further price easing. This would also be a big help for President Michel Temer who is seeking support in Congress.


On one side, the consumer prices slowed down quicker than expected which could force the authorities to ease their target for 2019. The reports will be publicized on Wednesday morning (1200 GMT) and at the same time, the central bank is anticipated to curtail its rates by 75 basis points from a two-year low of 12.25 percent.
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  #168  
Old 02-21-2017, 04:40 AM
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February 21, 2017

U.S Gasoline Supply Piled Up

Crude oil prices stayed in the holding pattern as it awaits for a much clearer data regarding the possible consequences. OPEC have largely complied to support and keep prices away from debts while the increasing oil manufacturing in the United States serves as a counterbalance. Another problem had risen as the gasoline inventories unexpectedly rack up towards a surprising level.

According to EIA, the US crude production recorded 259 million barrels, reaching its highest level upon tracking back its data in 1990, making the worst gasoline glut after 27 years. The glut is caused by high volume of production by which the manufacturing in U.S. continuously expands towards a range of 9 to 10 mb/d.

The rising stocks for oil emerged due to the possible offline maintenance by the refiners, however, it is much more expected that the stockpile would decline. While the current case is that the inventories for refined products and crude both climb higher, therefore, the market has something to worry about. Moreover, the increase helped sustain the rising demand for oil.
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  #169  
Old 02-21-2017, 04:48 AM
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February 21, 2017
UK Policymakers Clamor for more Transparency in Offshore Territories
Policymakers in the UK are pressuring UK PM Theresa May to increase transparency with regards to the business guidelines for offshore territories, including the British Virgin Islands. A total of 80 Parliament members are clamoring for amendments to the Criminal Finances Bill which is slated to be returned to the House of Commons next week. According to these Parliament members, the lack of transparency with regards to the business dealings within offshore territories such as Cayman Islands and Bermuda might be used by criminals as an advantage to hide ill-gotten assets as well as curb tax policies.
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  #170  
Old 02-21-2017, 11:43 PM
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AUD/USD Technical Analysis: February 22, 2017

The Aussie declined following the broad-based US dollarís strengthening. The minutes from the Reserve Bank of Australia weighed on the Australian dollar after the regulator decided to keep a steady monetary policy where its major targets correspond with the GDP and inflation.

The AUDUSD develop below the fresh selling pressure yesterday. The reserval within 0.7650 seems short-lived, reaching 0.7700 level. The price bounced back to the resistance during the Asian hours, favoring a downward trend. The spot touched 0.7650 region in the late session of Europe.

The price leading the 50-EMA downwards is exhibited in the 4-hour chart, as it further reached the 100-EMA eventually. All moving averages ascended. The resistance settled near 0.7700, support is at 0.7650.

MACD histogram touched the centerline. An entry within the negative zone will provide more strength for the sellers. When the indicator return to the positive territory, it enable buyers to regulate the market. RSI still sits around the neutral area.

A daily close under 0.7650 region could bring risk to 0.7600. Failure to surpass the region would assist the AUD to ease the ongoing downward pressure. The price is possible to rebound 0.7700.
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  #171  
Old 02-21-2017, 11:46 PM
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GBP/USD Technical Analysis: February 22, 2017

The US Treasury bond yields grew and the greens reinforced. The focus is now on the upcoming Fed meeting. Moreover, the bearishness continues on Tuesday. The reversal halted below 1.2500 level by which the bear retake the control in leading the spot lower. The sterling came in red on Tuesday.

Sellers continuously pushed the price over the night. The European markets carried renewed selling interest which stimulated the pair’s decline. The Cable highlighted 1.2400 region in post-opening of London session.

The 4-hour chart displayed that the price bounced back to the 50-EMA through a lower area and tested 200-day moving averages. The 50 and 100-EMA headed downwards while the 200-EMA is flat. Resistance is at 1.2500, support pierced 1.2400 area.

MACD indicator weakened implying a sell signal. RSI is confined in the neutral zone. In case the ask tone insist a break under the 1.2400 handle, there opens an opportunity to settle at 1.2300.
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  #172  
Old 02-21-2017, 11:56 PM
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EUR/USD Technical Analysis: February 22, 2017

The U.S dollar gained strength versus its major rivals on Tuesday. Meanwhile, the German Manufacturing PMI showed positive figures but the euro pay no attention regarding this report. The single European currency is kept below the pressured area despite the rising concerns about Marine Le Pen’s possible victory in the elections that could threaten the integrity of euro area.

The EURUSD move downwards as it pushed by the bid tone around the greenbacks yesterday. The EUR found a downside pressure and resumed its Monday losses amid Asian trades. The major extended its slide in the EU session. Moreover, the pair tested the level 1.0550 in the middle of European hours. The mentioned level stalled the development of the sellers tightening its grip to the price within the region.

The price bounced off the 100 and 50-EMAs lower while 200-EMA preserved a bullish pattern based on the plot of 4-hour chart. The price further develops under the moving averages. Resistance is found 1.0600, support sits in at 1.0500.

The MACD indicator settled the negative territory, upon maintaining a position in the negative zone, the sellers’ stance will bolster. RSI entered the oversold zone, favoring a fresh downtrend. A clear break under the mark 1.0500 would signal about the onset of a move through 1.0400 or else the price would rebound towards 1.0550, en route 1.0600.
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  #173  
Old 02-22-2017, 12:55 AM
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GBP/USD Fundamental Analysis: February 22, 2017

The GBP/USD pair continues to trade very well during the past trading sessions in spite of the US dollar regaining the majority of its losses. The GBP/USD pair remains to be one of the most resilient currency pairs, with the pair even bouncing back significantly as the dollar exhibited weakness and managing to hold on its own once the USD strengthened.

However, it is important to note that in spite of its relative strength, the GBP/USD pair is still trading within a very wide range of 400-500 pips, with the pair consistently trading within this range and not going much further. However, as the Brexit process starts to unfold and with the forthcoming invocation of Article 50, the pair might be in for some added volatility in the coming weeks. But it still remains to be seen whether the pair will be able to finally surpass its current ranges and record some significant change in trend.

UK will be releasing its second GDP estimate today which is expected to give the market an inkling of the current state of the UK economy. The GDP estimate would most likely come out as somewhat positive since the economic state of the country has been well during the past periods. The FOMC minutes will also be released later today, and this is expected to be an indicator of the GBP/USD pair’s short-term trend. If the market expectations with regards to the FOMC minutes is met, then the currency pair could possibly revert back to 1.2400 points.
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  #174  
Old 02-22-2017, 01:17 AM
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USD/CAD Fundamental Analysis: February 22, 2017

The USD/CAD has still managed to keep itself afloat in spite of a small increase in oil prices during the previous trading session. The currency pair continued to trade within its ranges, but this could be a cause for celebration of the pair’s bulls as the USD/CAD traded within its range highs with no hints of weakness whatsoever. This movement was also partly due to the recent surge in the dollar’s value which ensured support for the pair’s bulls.

As of this morning, the USD/CAD has somewhat weakened in stance and spent most of the session consolidating within its range highs with no actual direction. The USD/CAD bulls are now monitoring the release of the FOMC minutes, whose hawkish outlook might possibly lend some much-needed support for the pair and finally create some sense of direction. If the minutes are able to meet market expectations, then the USD/CAD pair could possibly move towards 1.3200 and could even go beyond this range.

For today’s session, we have the FOMC meeting minutes set to be released as well as the release of the US housing data. Meanwhile, the Canadian economy will be releasing its core retail sales data which will have to be closely watched by the USD/CAD bears in order for them to regain dominance over the currency pair.
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  #175  
Old 02-22-2017, 01:52 AM
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USD/CAD Technical Analysis: February 22, 2017

The U.S. dollars paired against the Canadian dollar surged on Tuesday’s trading. It moved passed the 1.31 handle, breaking the psychological levels. It seems that the this breakout will be followed by a reversal higher than the 1.32 level. This signals a bullish tone but traders should expect the trend to be choppy and harder to manage.

Looking below the chart, the price failed to break lower than the 1.2968 support level. Instead, it maintained its price within the trading range from 1.2968 to 1.3211 area. It is expected for the pair to continue to move back and forth within the said range in the next trading sessions.

The greenback rallied that aligned with the rise in oil market which is not common to occur. If the market is able to break higher than the 1.32 level, then the buying of the pair will continue.
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  #176  
Old 02-22-2017, 02:07 AM
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NZD/USD Technical Analysis: February 22, 2017

The New Zealand dollar against the U.S. dollar dropped on Tuesday’s session. Later on, a strong support was found close to the 50% Fibonacci retracement level to reverse the trend and form a hammer pattern. This signals a bullish tone with chances to break higher than the peak of the candle pattern formed towards the next target at 0.7250 level. This could further go up towards the 0.7350 level. Traders should also look out for the commodity markets which would influence the new Zealand dollar. The currency prices is relative to the commodity prices, as it goes up, the currency also moves higher.
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  #177  
Old 02-22-2017, 02:28 AM
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EUR/GBP Technical Analysis: February 22, 2017

The Euro against the British pound dropped on Tuesday’s trading. It moved lower than the 0.85 handle after testing the 0.8450 level which has been a strong support in the past. If the price further declined lower than the base of the current trading range, it could reach the 0.83 level. The pair seems to proceed with sell off when it surges but this could still turn around, which the market should be cautious for.
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  #178  
Old 02-22-2017, 02:48 AM
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EUR/GBP Technical Analysis: February 22, 2017

The Euro against the British pound dropped on Tuesday’s trading. It moved lower than the 0.85 handle after testing the 0.8450 level which has been a strong support in the past. If the price further declined lower than the base of the current trading range, it could reach the 0.83 level. The pair seems to proceed with sell off when it surges but this could still turn around, which the market should be cautious for.
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  #179  
Old 02-22-2017, 03:13 AM
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USD/JPY Fundamental Analysis: February 22, 2017

There is a high demand for riskier assets that pushed the USD/JPY pair to climb on Tuesday session. Also, the appreciation of dollar was influenced by a stiff sell-off in Euro because of increase in political worries.

Moreover, the stock market surged that influenced the Japanese yen higher because of the carry trade while the recent remarks of Fed officials drove the appreciation of the U.S. dollar. The pair closed at 113.673, increased by 0.582 or +0.51%.

Cleveland Fed President Loretta Mester remarks on Monday also significantly affected the next day trading. This was pushed further by the announcement of Philadelphia Fed President Patrick Harker saying the pending next rate hike on March.

U.S. economic data results for the U.S. Purchasing Managers Index (PMI) was at 53.9 in February, lower from the reported 55.6 in January and the expected result to be at 55.8.

The continued low borrowing rates made the San Francisco Fed President John Williams to have a dovish sentiment. Similar with Minneapolis Fed President Neel Kashkari comments saying the there is no need to rush and go for inflation right away.

The Japanese yen was also influenced by rise in political risk in Europe and excessive sell-off by Euro. The rhetorics of French candidates Marine Le Pen and Dutch candidate Geert Wilders prior to elections has influenced the market sentiment.

Gold investors also reacted to the latest Existing Home Sales data in U.S. trading. The data is predicted to give e a 5.55 million unit gain. On the other hand, the FOMC Member Powell is scheduled to give a speech today. The Fed minutes for February Monetary Policy meeting will also be released which is highly anticipated.

It is anticipated for the market to have high volatility with the release of major economic data and the decision from the monetary policy meeting and connect it with the remarks before the Congress of Fed Chair Janet Yellen last week. Investors will try to get hints on chances for the Fed rate hike on March. As of now, there is 17% chances for a rate hike in March while 47% in June regarding the Fed fund futures.
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  #180  
Old 02-22-2017, 05:24 AM
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February 22, 2017

Hong Kong Ex-Chair Tsang Charged with Misconduct, Faces 20-Month Jail Sentence

Donald Tsang, the ex-chief executive of Hong Kong, has just been charged with grave misconduct while in office and has been sentenced to 20 monthsí worth of imprisonment. This recent event is now being tagged as a conclusion for a downfall of a former person of political power who helped Hong Kong get through its worst financial crisis some time ago. Tsang has been charged of failure to properly disclose a certain conflict which appeared after Tsang rented out a luxury apartment whose owner was then applying for a broadcasting license in Hong Kong.
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