Highlights

ATFX News Update

Author: AFTX   |   Latest post: Mon, 17 Jun 2019, 10:40 AM

 

ATFX Market Update - 2019.06.17

Author: AFTX   |  Publish date: Mon, 17 Jun 2019, 10:40 AM


Personal opinions today:
 
U.S. retail sales and industrial output rose in May, but the  Michigan consumer confidence index fell slightly in June. The U.S. data did well, pushing the dollar higher, indirectly affecting the dollar's rise against major currencies and gold price fell from recently high. The dollar index rose, breaking 97.05, once approached 97.55 resistance.
 
Inflation figures for the Eurozone and the UK are due in the next two days. The market is widely expected to fall, bearish euro and pound, indirect bullish of the dollar. Subsequently, the  FOMC meeting this Thursday, announced the interest rate decision and monetary policy statement. Fed chairman Powell held a news conference afterwards. In May, U.S. economic and employment data were weak and inflation moderated. The Fed is widely expected to cut its planned rate soon. The Fed's meeting is likely to announce a rate cut. If no rate cut is announced at this meeting, but the Fed chairman plans to cut rates more than once in the third and fourth quarters of this year, it could affect investor confidence in dollar assets and the dollar in the second half of the year.
 
[Important financial data and events]
21:00 Canada existing home sales in May
22:00 U.S. NAHB housing market index for June
04:00 the next day, US capital inflows
 
Today suggestion:
 
EURUSD 
1.1230/1.1245 resistance
1.1185/1.1165 support
Economic data in the Eurozone continues to be weak, with German CPI unchanged in May last week and expectations of weak overall Eurozone inflation. In addition, the European group meeting, the market focused on how the European group to solve Italy's fiscal deficit and future monetary policy stance, attention to downside risks. Technically, the euro has maintained its downward trend against the dollar on an hourly basis, with the euro continuing to trade below its 20-hour average, breaking through its first target of 1.1255 and reaching its low of 1.1205 in early June. Investors are watching the European group meeting for good news and a boost to the euro. But the euro's rebound was limited by expected weak European data over the next two days.
 
GBPUSD 
1.2615/1.2635 resistance
1.2560/1.2545 support
Tomorrow, the second round of voting for the candidate of next Britain PM. The candidate, Johnson, who wants a hard Brexit without a deal.  The UK is facing the risk of a hard Brexit and pound is weak. Technically, there is an opportunity to try 1.2560. If breaks through the 1.2558 support level, the other target below is 1.2460. If the Euro/GBP adjustment, wait and see key support levels 0.8875 and 0.8840 then testing the 0.90 level.
 
AUDUSD
0.6900/0.6915 resistance
0.6865/0.6850 support
The minutes of the RBA monetary policy meeting tomorrow,  the market expectations, they may consider cutting interest rates further to stimulate the economy. The rate cut is expected to see the Australian dollar fall before the Australian economy rebounds. Technically, the focus on AUDUSD to break through the 0.6900 support level, as a reference resistance level. Look down for support of 0.6865 and 0.6850. After the release of the minutes of the monetary policy meeting tomorrow morning, the Australian dollar is expected to stabilize, which may test resistance.
 
USDJPY 
108.80/108.95 resistance
108.45/108.30 support
The Fed fund rate cut is expected to increase, bullish Dow. Dow and Nikkei future was up in Asian trading today, while the dollar rose against the yen. But the trade war between China and the United States continues to be tense, potentially limiting stocks. If the Nikkei index is weak, we expect the dollar to test support levels against the yen. Changes in market information suggest keeping an eye on how the Dow and Nikkei affect the USDJPY trend. If the Dow and Nikkei rise, breaking through the recent resistance or support of related indexes, the USDJPY may break out of the range trend.
 
USDCAD 
1.3380/1.3360 support
1.3430/1.3445 resistance
U.S. crude oil prices after the bearish Canadian dollar. If crude oil prices continue to fall, it will further bearish Canadian dollar. Also tomorrow, the market is expected the Canada manufacturing orders and inventories for April fall. The day after tomorrow, Canada CPI drop for May, bearish the Canadian dollar. Currently reference support levels 1.3380 and 1.3360, resistance 1.3430 and 1.3445.
 
Us crude futures USOIL 
52.95/53.35 resistance
52.15/51.65 support
Last week, API crude oil stock in the United States increased, which is believed to continue to be affected by the trade war between China and the United States. In addition, affected by the seasonal demand reduction, the impact of oil demand, oil futures prices will fall, the rise limit. Although, the Middle East oil supply affected, short - term support crude prices. But lower overall oil demand is limiting price increases. Technically, refer to 52.95 resistance and look down at 51.65.
 
XAUUSD 
1346/1348 resistance
1339/1337 support
Fed officials and US President comment that have pushed up gold prices. Before the FOMC meeting this week, the Fed fund rate was considering a rate cut, which was also supported by the U.S. President. We are looking at resistance levels 1346 and 1348, or above $1350 again. Short-term support at $1339 and $1337. Significant support at $1,335.
 
U.S. Dow Jones industrial average futures US30
26250/26320 resistance
25960/25885 support
The market wait-and-see investment mood ahead of the FOMC meeting this week and expected the Fed fund rate cut, with the Dow Jones industrial average expected to see a resistance of 26320. Interest rate this cut comments from the Fed, though, could lift U.S. stocks. But the continuing trade war between the U.S. and China has hurt the economic outlook, giving the Dow a chance to turn negative. Current reference support 25960 and 25885. Key support bit 25620.
 
BTCUSD:
9510 / 9759 resistance
8720 / 8520 support
Trade tension, US economic data showed slow down. Expected Fed fund rate will cut, bullish the bitcoin. The bitcoin uptrend recently breaks US9000. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. On the contrary, the Bitcoin will continue the uptrend. 
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 

Information provided by AT Global Market, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices. 

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 
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ATFX Market Update - 2019.06.14

Author: AFTX   |  Publish date: Fri, 14 Jun 2019, 10:27 AM


Personal opinions today:
 
Today's focus was on U.S. retail sales and U.S. industrial output, following the reading of the University of Michigan consumer confidence index. The performance of the US data affects the dollar and indirectly affects the price of the dollar against other currencies and gold. French CPI monthly and bank of England governor, Carney attended a activity just to watch.
 
The market expects the US retail sales and the industrial output increased significantly from the previous month. The dollar index rose last night to try 97.05. It is expected to bullish  the dollar ahead. However, the University of Michigan consumer confidence index for June is expected to fall continuously, falling below 100 to just expect as 98. Assuming the data could lead the dollar lower, bullish other currencies and gold price.
 
[Important financial data and events]
14:45 France CPI monthly rate in May
16:00 IEA releases monthly oil market report
20:30 US retail sales monthly rate in May
20:55 BOE Carney attends activity
21:15 U.S. industrial output monthly rate in May
22:00 US business inventory monthly rate for April
22:00 US Michigan consumer confidence index for June
 
Today suggestion:
 
EURUSD 
1.1290/1.1305 resistance
1.1255/1.1240 support
Eurozone economic data continue to be weak, Germany CPI in May flat, no growth, the overall euro against the dollar trend weak. In addition, the European group meeting, the market focused on how the European group to solve Italy's fiscal deficit and future monetary policy stance, attention to downside risks. Technically, the EURUSD did not break resistance level at 1.1345, while the EURUSD hourly chart still maintains a downward trend. If the EURUSD continues below the 20-hour average without a break, the first target support level is 1.1255 or 1.1240. Investors are watching the European group meeting for any good news and a boost to the euro.
 
GBPUSD 
1.2695/1.2705 resistance
1.2650/1.2635 support
Britain's first round of prime minister-designate elections to select a successor to the next prime minister. Earlier, it was noted that one of the nominees, Johnson, is now the front-runner. He advocates a hard brexit without a deal, which would be bearish for the pound. Yesterday, the trend of GBPUSD fell, technically, GBPUSD initially reached the first support level of 1.2685, looping the next support level of 1.2650. If the euro/sterling short-term adjustment, wait and see key support levels 0.8875 and 0.8840, then testing the 0.90 level.
 
AUDUSD
0.6920/0.6935 resistance
0.6900/0.6880 support
Australia's seasonally adjusted unemployment rate stood at 5.2 percent in May, above market expectations. Bearish the Australian dollar fell against the U.S. dollar. Market sentiment expected, the reserve bank of Australia may cut interest rates further. AUDUSD would testing 0.6900 and 0.6880 support. Reference resistance levels 0.6920 and 0.6935.
 
USDJPY 
108.40/108.55 resistance
108.00/107.85 support
The fed fund rate cut is expected to increase, investment sentiment increasing, bullish Dow future. But the trade war between China and the United States limited Asian stocks. The Nikkei index was weak, USDJPY could be tested at 108.00 or 107.85 support levels respectively. Short-term resistance at 108.40 and 108.55. To collect USDJPY trend, please keeping an eye on how the U.S. Dow and Nikkei momentum and how affected the USDJPY trend.
 
USDCAD 
1.3320/1.3305 support
1.3360/1.3400 resistance
U.S. crude oil prices fell bearish the Canadian dollar. The U.S. dollar broke through 1.3305 against the Canadian dollar, which the trend stalled at 1.3340. If crude oil prices continue to fall, it will further bearish Canadian dollar. Currently reference support levels 1.3315 and 1.3295, resistance 1.3360 and 1.3400.
 
Us crude oil futures USOIL 
52.35/52.95 resistance
51.65/51.25 support
U.S. API crude oil stocks increased, and the trade war between China and the United States and seasonal demand reduces, leading to the decline of crude oil futures prices. Although, the Middle East oil supply affected, seems bullish short - term crude prices. But lower crude oil demand is limiting price increases. Technically, refer to the resistance of 52.35 and 52.95, looking further down at 51.65 and 51.25.
 
XAUUSD 
1346/1348 resistance
1340/1338 support
Fed officials have pushed up gold prices with interest rate cuts and worries about slowing global growth. By the middle of next week, the fed is expected to announce a timetable for rate cuts. Gold's gains are limited if the fed considers cutting interest rates. If the decision to cut interest rates, gold prices have room to rise. We are looking for resistance levels 1346 and 1348 again. Short-term support at $1340 and $1338. Significant support at $1,334.
 
U.S. Dow Jones industrial average futures US30
26250/26320 resistance
25960/25885 support
The Fed fund rate-cutting comments come amid a wait-and-see investment climate ahead of next week's fed meeting, which is expected to limit resistance to the U.S. dow at 26250 and 26320. Positive comments from the fed, though, could lift U.S. stocks. But the continuing trade war between China and the United States is hurting the economic outlook and has opportunities to weigh against stocks. Current reference support bits 25960 and 25885. Key support bit 25620.
 
BTCUSD:
8350 / 8500 resistance
8020 / 7980 support
Trade tension, US economic data showed slow down. Expected Fed fund rate will cut, bullish the bitcoin. The bitcoin uptrend recently, hit 8270. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. On the contrary, the Bitcoin will continue the uptrend. 
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 

Information provided by AT Global Market, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices. 

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

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ATFX Market Update - 2019.06.13

Author: AFTX   |  Publish date: Thu, 13 Jun 2019, 11:24 AM


Personal opinions today:
 
Yesterday the US API and EIA crude oil inventories recorded an increase, the increase in the number of crude oil inventories, bearish crude oil prices. As this analysis showed yesterday, crude oil prices would test $51, now as low as $50.60. The impact of the continued inability of the United States and China to reach a trade agreement and intensify the trade war, as demand for crude falls. Moreover, seasonal factors are also important, and generally in the second and third quarters of production capacity and demand for crude oil reduced, affecting the oil price rise room. The above factors affect, the market sentiment weakened, the U.S. Dow future followed investment sentiment down, some funds into safe-haven assets. Gold rose above $1,330 in anticipation of a Fed rate cut.
 
The US consumer price index slowed to a seasonally adjusted 0.1 per cent monthly rate in May, just in line with market expectations, but in line with expectations it could reverse the dollar's decline, the analysts said yesterday. Finally, the dollar index bounced back from 96.6 to nearly 97.0. U.S. import prices for may and initial jobless claims were among the market's top concerns. If the results are weak and below market expectations, the dollar index could fall from 97. In addition, it is worth looking at the performance of the U.S. stock market and German CPI and Eurozone industrial output data today.
 
The Swiss national bank announced the interest rate decision today, the market estimated that interest rates and monetary policy unchanged. However, it is worth noting whether the SNB will indicate its future monetary policy stance, which will affect not only the Swiss franc, but also the euro and pound indirectly.
 
[Important financial data and events]
14:00 Germany CPI monthly final value for May
15:30 Swiss national bank announces interest rate decision
17:00 Eurozone industrial output for April
20:30 US initial jobless claims in the week ended June 8
20:30 US import price index in May
ECB Euro group meeting
Britain first round of prime minister-designate elections
 
Today suggestion:
 
EURUSD 
1.1305/1.1330 resistance
1.1275/1.1255 support
Yesterday, the dollar rose and the euro adjusted to 1.1280, which is now in the 1.1290 support range. Today markets expect Eurozone economic data weak, with German CPI unchanged in May. The overall trend of the EURUSD, to wait and see the results. If the results are in line with expectations, it could be bullish for the euro. In addition, the European group meeting, the market focused on how the European group to solve Italy's fiscal deficit and future monetary policy stance, attention to downside risks. Technically, the EURUSD did not break resistance at 1.1345 and 1.1360, the EURUSD would keep downtrend. First support would the references 1.1275 and 1.1255.
 
GBPUSD 
1.2745/1.2760 resistance
1.2685/1.2670 support
Around 17 nominees will be chosen for the first round of the UK prime minister election today. Earlier, it was noted that one of the nominees, Johnson, is now the front-runner. His call for a hard brexit without a deal is likely to hurt investor sentiment and bearish on pound. GBPUSD fell from 1.2733 yesterday as the bearish. Technically, pay attention to the first support position 1.2685 and the important support position 1.2650. If the euro remains strong and the pound falls, expect the euro to keep rising against the pound, testing the 0.90 level. Test the key support levels of 0.8875 and 0.8840, if the euro adjusts against pound in the short term.
 
AUDUSD 
0.6940/0.6960 resistance
0.6905/0.6885 support
The Australian dollar fell against the U.S. dollar today after Australia seasonally adjusted unemployment rate at 5.2 percent in May, higher than market expectations, after the RBA cut interest rates. Technically, focus on AUDUSD 0.6905 and 0.6885 support. Resistance 0.6940 and 0.6960.
 
USDJPY 
108.50/108.65 resistance
108.00/107.80 support
The dow Jones industrial average fell after the U.S. said it expected a drop in the monthly CPI after the may quarter survey and the trade war between China and the United States continued to dispute. Depending on the depth of the losses in the Dow and Nikkei, the USDJPY could test support at 108.00 or 107.80, respectively. Earlier this analysis pointed out that USDJPY may barrier before 109 resistance, watching it reversing the trend. Keep an eye on the Dow and Nikkei affect the USDJPY trend.
 
USDCAD 
1.3315/1.3295 support
1.3360/1.3400 resistance
Crude oil prices fell as U.S. API and EIA inventories rose. The Canadian dollar extended losses, with the U.S. dollar breaking through 1.3305 against the Canadian dollar, having seen 1.3340. If the price of crude oil continues to fall, it will continue to bearish the Canadian dollar. Currently reference support levels 1.3315 and 1.3295, resistance 1.3360 and 1.3400.
 
Us crude oil futures USOIL 
51.55/52.30 resistance
50.60/49.65 support
Crude oil futures fell as U.S. API inventories rose, crude oil inventories have risen sharply, bearish crude futures prices. Weak U.S. monthly CPI data for May and weak production and manufacturing data weighed against crude oil prices. Technically, refer to resistance of 51.55 and 52.30, then look down further at 50.60 and 49.65.
 
XAUUSD 
1338/1342 resistance
1330/1326 support
Fed officials have cut interest rates, which have boosted the dow and led to a correction in gold prices. But as the trade war between China and the United States continues to heat up, the outlook for the U.S. economy is uncertain. The Dow future fell after the U.S. reported a weak monthly CPI reading for may, pushing up gold prices. Test 1338 and 1342 resistance, and last week high 1346. Short-term support at $1330 and $1326.
 
U.S. Dow Jones industrial average futures US30
26050/26170 resistance
25860/25785 support
The Dow future rose after the federal reserve rate-cutting comments, which had boosted investment sentiment. Positive comments from the Fed, though, could boost a rebound in U.S. stocks. However, the continued trade war between China and the United States has affected the economic outlook, and corporate profits are expected to decline, which is bearish for the stock market. Yesterday, the United States released the quarter adjusted CPI monthly rate for May, met the market expectation and bearish the market sentiment. Current reference support 25860 and 25785. Key support 25620.
 
BTCUSD:
8200 / 8450 resistance
7700 / 7450 support
Trade tension, US data showed slow down. Expected Fed fund rate will cut, bullish the bitcoin. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. On the contrary, the Bitcoin will continue the uptrend. 
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 

Information provided by AT Global Market, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices. 

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 
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ATFX Market Update - 2019.06.12

Author: AFTX   |  Publish date: Wed, 12 Jun 2019, 10:44 AM


Personal opinions today:
 
Last week, the U.S. API crude oil stocks increased, bearish crude oil prices. With EIA crude oil stocks also expected to rise today, crude oil prices have a chance to test the $51 level. 
 
US President Trump has said publicly that if China fails to reach the trade deal demanded by the US government, it will choose to intensify its trade war without any agreement. And Trump said he would meet with Chinese leaders at a G20 meeting end of this month. But whether the both can reach an agreement will be seen. Based on the current attitude of both sides, the market risk assessment, the dollar and the China  yuan momentum is weak, the risk of flow into safe-haven assets. For example, gold, silver and yen. Equity assets may be left to other markets, in anticipation of negative Dow and global stock markets.
 
Today is the most noteworthy, the US CPI monthly rate in May. If U.S. inflation slows, as expected, to 0.1 percent, bearish dollar. Finally, if data in line with or above expectations could reverse the dollar's decline. Next the market will wait and see  the U.S. stocks tonight and German and Eurozone data tomorrow.
 
[Important financial data and events]
09:30 China CPI annual rate in May
16:15 ECB President Mario Draghi attend Euro group meeting
20:30 US CPI monthly rate in May
22:30 US EIA crude oil stocks for the week ending June 7
 
Today suggestion:
 
EURUSD 
1.1345/1.1360 resistance
1.1305/1.1290 support
The Eurozone Sentix sentiment index fell in June, while the U.S. PPl was flat in May. Yesterday the dollar had risen, the EURUSD lower, holding 1.1290 support. The dollar weakened from yesterday, because markets expected the US CPI to fall to 0.1 per cent in May. Believe dollar weakness, will continue to the data released. Whether EURUSD can challenge the 1.1360 resistance depends on the performance of US CPI result today and Eurozone economic data tomorrow. Technically, the EURUSD important resistance 1.1345 and 1.1360. If no break the resistance, it will focus on the downward of the EURUSD.
 
GBPUSD 
1.2745/1.2760 resistance
1.2685/1.2670 support
One of the nominees for Britain's next prime minister is Johnson. He advocated a hard brexit without a deal, which touched investor sentiment and bearish on pound. Current estimates, bearish trend and limit the rise in pound. Technically, pay attention to the first support position 1.2685 and the important support position 1.2670. Resistance level 1.2745 and key resistance 1.2760. If the euro remains strong and the pound falls, expect the euro to keep rising against the pound, testing the 0.90 level. The key support levels of 0.8875 and 0.8840 will be tested if the euro adjusts against sterling in the short term.
 
AUDUSD 
0.6970/0.6985 resistance
0.6945/0.6930 support
After the RBA cut interest rates, the Australian dollar will limit its rise against the U.S. dollar to 0.70 resistance. In addition, tensions over the trade war between the United States and China are hampering China's economy and Australia's resource exports, hurting the Australian dollar. If U.S. economic data shows weakness again and the U.S. dollar falls, the Australian dollar has a chance to rise against the U.S. dollar. The Australian dollar is expected to gain indirectly from a weaker than expected 0.1 percent rise in US CPI today. Technically, focus on short term AUDUSD 0.6970 and 0.6985 resistance. Reference support 0.6945 and 0.6930.
 
USDJPY 
108.60/108.75 resistance
108.25/108.10 support
US crude stocks have risen, US President comments have undermined progress in trade talks and hurt investment confidence. The Dow and Nikkei fell and the dollar fell again against the yen after a 108.71 resistance failed. It is believed that the Dow future fell after the release of the expected fall in US CPI and the trade war between China and the US continued to dispute. Depending on the depth of the losses in the Dow and Nikkei, the USDJPY could test support at 108.00 or 107.80, respectively. Technically, USDJPY may hit a barrier before 109 resistance, careful reversal. Keep an eye on how the U.S. Dow and Nikkei affect the USDJPY trend.
 
USDCAD 
1.3270/1.3250 support
1.3315/1.3330 resistance
Federal reserve officials said the rate cut, crude oil futures prices once rose to 54 dollars level, indirectly bullish the Canadian dollars. But crude oil prices fell as U.S. API crude stocks rose and EIA crude stocks were expected to rise. Against the Canadian dollar, the U.S. dollar lost 1.3250 and recovered 1.3305. If the price of crude oil continues to fall, it will continue to bearish the Canadian dollar.
 
Us crude oil futures USOIL 
53.30/54.00 resistance
52.15/51.65 support
Crude oil futures fell as U.S. API inventories rose to 4.85 million barrels. In general, oil inventories have risen sharply, bearish crude futures prices. And the US President welcome to lower oil prices, which could be further affected crude oil price by his comments. Crude oil prices were weighed down by weak U.S. data today after the release of US CPI. Technically, refer to 53.30 and 54.00 resistance. Crude oil prices fell the previous support level of 52.85, further down 52.15 and 51.65. Significant support at $51.20.
 
XAUUSD 
1334/1338 resistance
1325/1321 support
Fed officials have cut interest rates, lifting the stock market, lifting the Dow future, leading to a correction in gold prices. The trade war between China and the United States continues to heat up recently, and the outlook for the U.S. economy is uncertain. Dow fall, it could push gold prices higher Keep an eye on resistance level 1338. Short-term support at $1325 and $1321.
 
U.S. Dow Jones industrial average futures US30
26185/26255 resistance
25960/25785 support
The Dow future rose after the federal reserve rate-cutting comments, which had boosted investment sentiment. Positive comments from the Fed, though, could boost a rebound in U.S. Dow. However, the continued trade war between China and the United States has affected the economic outlook, and corporate profits are expected to decline, which is bad news for the stock market. Today, the United States released the quarter adjusted CPI monthly rate for May, the market is expected to fall. As advice yesterday, it was to watch for a reversal in the short term and now watch the data to see where the Dow goes next.
 
BTCUSD:
8200 / 8450 resistance
7700 / 7450 support
Trade tension, US data showed slow down. Expected Fed fund rate will cut, probably increasingthe bitcoin demand. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. On the contrary, the Bitcoin will continue the uptrend. 
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 

Information provided by AT Global Market, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices. 

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

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ATFX Market Update - 2019.06.11

Author: AFTX   |  Publish date: Tue, 11 Jun 2019, 10:57 AM


Personal opinions today:
 
U.S. and Mexico agreement risk easing, risk sentiment cooled, the dollar to rise. Gold prices fell, European currencies and commodity currencies adjusted. But fears of a global economic slowdown were widely, with crude oil prices falling more than 1% and US crude oil prices closing below $54. The market is focused on US API stocks tomorrow, which will have an impact on crude oil prices.
 
UK manufacturing and industrial output fell yesterday, its GDP contracted in the three months to April, and today's widely expected rise unemployment rate and jobless claims in May, weighed against GBPUSD. It also focused on the Eurozone investor sentiment index in June and the U.S. PPI for May. If the U.S. PPI falls in May, the dollar fall. European currencies, commodity currencies and gold prices could benefit, indirectly bullish. In addition, the tension between China and the United States may once again lead to a drop in investment sentiment. Keep wait and see any negative news will affect global stock markets and boost gold prices.
 
[Important financial data and events]
16:30 UK unemployment and jobless claims in May
16:30 Eurozone Sentix sentiment index for June
20:30 US PPI monthly rate in May
24:00 EIA releases monthly short-term energy outlook
The next day at 04:30 U.S. API crude inventories
 
Today suggestion :
 
EURUSD 
1.1320/1.1340 resistance
1.1290/1.1270 support
The European central bank released the central bank would consider cutting interest rates if the economy slowdown, limit the euro uptrend. Today, the market focus was on the Eurozone Sentix investor sentiment index in June, as well as the UK unemployment and jobless claims figures in May. Markets are expecting the data to be negative for the euro, which is believed to be holding back gains ahead of the release. In addition, the U.S. monthly PPI rate for May. If U.S. PPI data for May is in line with market expectations of a fall, the euro will continue to adjust, with short-term support at 1.1290 and 1.1270 key support levels. Technically, the euro is at an important resistance level of $1.1340. If there is no break in resistance, remain concerned about the downward trend of the EURUSD.
 
GBPUSD 
1.2705/1.2730 resistance
1.2670/1.2645 support
UK manufacturing and industrial output fell and GDP slowed in April yesterday. Expectations of higher unemployment and jobless claims in May weighed against GBPUSD. In addition, one of the nominees for Britain's next prime minister, Johnson, is a strong favourite. His call for a hard brexit without a deal could stir investor sentiment against sterling. Current estimates, bearish trend and limit the rise in GBPUSD. Technically, the first GBPUSD support level is 1.2670, and the key support level is 1.2645. Short-term resistance at 1.2705 and key resistance at 1.2730. The EUR is strong against GBP, which is expected to remain bullish EURGBP to testing 0.90.
 
AUDUSD 
0.6970/0.6985 resistance
0.6945/0.6930 support
After the reserve bank of Australia cut interest rates, the AUDUSD rise was limited to 0.70 resistance. The trade war between China and the United States has hampered expectations of a slowdown in China's economy and Australia's resource exports, bearish the Australian dollar. If future us economic data shows weakness again and the US dollar falls, the AUDUSD has the opportunity to rise. But estimated AUDUSD into adjustment time in short term trading. Technically, focus on 0.6970 and 0.6985 resistance. At present, the AUDUSD adjustment, the reference support 0.6945 and 0.6930.
 
USDJPY 
108.70/108.85 resistance
108.00/107.80 support
The Dow and Nikkei rose as the fed cut interest rate expectations and the U.S. and Mexico deal initially eased risks. The dollar traded at 108.55 yen, its first high against 108.71 resistance. However, the trade war between China and the United States has led to renewed disputes between the two countries. If the Dow falls in the United States, the dollar may try 108.00 or 107.80 support levels against the yen, depending on the depth of the fall. Technically, USDJPY may hit a barrier before 109 resistance, careful reversal. Keep an eye on how the U.S. Dow and Nikkei affect the dollar-yen trend.
 
USDCAD 
1.3240/1.3225 support
1.3345/1.3365 resistance
Fed officials said the rate cut, to boost economic confidence, crude oil futures prices reversed, once rose to the level of 54 dollars, indirectly to bullish Canadian dollars. But the U.S. dollar stalled at 1.3250 against the Canadian dollar as crude oil prices stopped further go up. The U.S. API and EIA crude oil stocks will be released tomorrow. It is recommended to keep an eye on the crude oil price trend. If crude oil price continues to rise to $55 - $56, bullish the Canadian dollar.
 
Us crude futures
55.35/55.85 resistance
52.75/51.95 support
Fed officials cut interest rates, lifted economic and investment sentiment, stabilized oil prices and boosted oil prices. The U.S. API and EIA crude oil stocks will be released tomorrow. It is recommended to pay attention to the volume results and note the large increase in inventories. In general, the US President is happy to accept a fall in the price of oil, and if he expresses his opinion, it may also affect the price drop. Technically, refer to the 55.85 resistance and 51.95 support ranges.
 
XAUUSD 
1332/1334 resistance
1326/1324 support
Fed officials have cut interest rates, and weak U.S. nonfarm payrolls data have boosted gold prices. But the interest rate cut, after the positive stock market, again lifted the Dow, led the Dow rebound, gold price adjustment. A decline in the Dow could push gold prices higher as the trade war between China and the U.S. continues to heat up and the outlook for the U.S. economy remains uncertain. Watch for significant resistance at $1336 and $1340. Short-term support at $1326 and $1324.
 
U.S. Dow Jones industrial average futures US30
26185/26255 resistance
25855/25735 support
The Dow future rose as the federal reserve cut interest rates and the U.S. and Mexico agreement showed signs of easing, raising the sentiment for investment. Positive comments from the Fed, though, could boost a rebound in U.S. stocks. However, the continued trade war between China and the United States has affected the economic outlook, and corporate profits are expected to decline, which is bearish for the stock market finally. It is recommended to note a reversal with current reference resistance at 26185 and 26255 and short-term support at 25855 and 25735.
 
BTCUSD:
8200 / 8450 resistance
7700 / 7450 support
Trade tension, US data showed slow down. Expected Fed fund rate will cut, probably increasingthe bitcoin demand. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. On the contrary, the Bitcoin will continue the uptrend. 
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 

Information provided by AT Global Market, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices. 

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 
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ATFX Market Update - 2019.06.04

Author: AFTX   |  Publish date: Tue, 4 Jun 2019, 10:58 AM


Personal opinions today:
 
Yesterday, US ISM manufacturing PMI shown slowed in May. Overall, US manufacturing and production indicators slowed in May. The market is watching ADP payrolls change and nonfarm payrolls for May tomorrow, as well as the unemployment rate and average hourly wage. Non-farm payrolls are expected to fall to 190,000, the unemployment rate to 3.7 per cent and average hourly wages to rise just 0.1 per cent, according to market estimates that all weaker than last month. The market is expected that the Fed may cut interest rates in September after its meeting on June 19th and 20th. Because of these European currencies and commodity prices have an opportunity to rise since bearish USD.
 
The key event today was the RBA monetary decision. The market expecting a 0.25% interest rate cut. If the rate cut is not larger than expected, the Australian and New Zealand dollars are expected to adjust slightly and then continue to rise. Also, keep an eye on the Eurozone unemployment rate for April and the Eurozone CPI for May. Finally, keep an eye on whether the monthly rate of U.S. factory orders in April, In contrast, the monthly rate of U.S. factory orders rose in April and the dollar index is expected to hold at 97.
 
[Important financial data and events concerned]
12:30 The Reserve Bank of Australia interest rates decision
17:00 Eurozone unemployment rate for April
17:00 Eurozone CPI for May
20:00 Fed Evans live interview
22:00 US factory orders monthly rate in April
The next day 04:30 U.S. API crude oil inventories
 
Today suggestion:
 
EURUSD 
1.1230/1.1215 support
1.1285/1.1305 resistance
Today, the Eurozone unemployment rate for April and the Eurozone CPI for May. Looking ahead to monthly factory orders for April and U.S. jobs report tomorrow. The market expects limited USD gain and has an opportunity to fall.  As long as the Eurozone unemployment rate for April and the Eurozone CPI for May today. EURUSD will have a chance to test 1.1285 resistance or 1.1305 significant resistance if Eurozone data better than expected and the US data weaken.
 
GBPUSD 
1.2680/1.2700 resistance
1.2620/1.2600 support
The risk of Brexit is expected to remain high after a parliamentary vote on the EU bill this week. Yesterday, the UK manufacturing PMI for May was released, which was slower than expected. Technically, GBPUSD significant resistance level remains at 1.27, while short-term GBPUSD resistance levels are 1.2680 and 1.2700. Of course, if the monthly rate of U.S. factory orders in April and U.S. job data tomorrow are weak. GBPUSD is expected to change direction and downward, with preliminary estimates of support at 1.2620 and 1.2600. Short term 1.2680, 1.2700 resistance.
 
AUDUSD 
0.6985/0.7015 resistance
0.6925/0.6905 support
The Reserve Bank of Australia interest rate decision today, the market is expected to cut 0.25%, from 1.5% to 1.25%. It is worth noting that the market has been expecting the RBA to cut interest rates for more than a month, and AUDUSD started to fall from 0.70. However, the US factory orders in April and the results of US job data coming are likely to influence the main trend in AUDUSD . If the U.S. economy, inflation and job data are weak, the chances of the Fed will be cutting interest rates, AUDUSD and NZDUSD respectively rebounding. Technically, AUDUSD is testing the three-week high 0.6980, the next resistance of 0.7015. If AUDUSD adjust, reference support 0.6925, 0.6905.
 
USDJPY 
108.55/108.75 resistance
107.50/107.20 support
While the Dow was steady, trade tensions between China and the US kept Japanese stocks down, with the dollar falling against the yen. Besides, the dollar and the yen as interest rate spreads narrowed in anticipation of future Fed rate cuts. Yesterday this analysis pointed out that the short - term focus on the dollar 108.05, 107.85 support. Only the Nikkei and Dow future rose, and USDJPY is expected to test the resistance of 108.55 and 108.75. Current estimates the USDJPY could test its low of 107.50 at the end of last year. If the support is broken, the next support is 107.20 and 106.85 respectively. Keep an eye out for how the Dow future and Nikkei affect the USDJPY trend all the time.
 
USDCAD 
1.3465/1.3485 resistance
1.3425/1.3405 support
Crude oil futures rebounded from a low of $52, gaining Canadian dollars. Also, the U.S. manufacturing PMI came in below expectations in May, adding to market expectations for a weak U.S. jobs report this week. Currently, focus on USDCAD to test support at 1.3425, 1.3405. Significant reference resistance 1.3485.
 
Us crude oil futures USOIL 
53.85/54.30 resistance
51.85/50.85 support
The trade war between China and the United States has hit investment and production confidence, and the United States has imposed tariffs on imports from Mexico. As a result, the global trade war is deadlocked. The market is looking ahead  U.S. API and EIA crude oil inventories, the price steady between $52 and $53 level. Technically, crude oil futures prices broke through multiple support levels recently. Without breaking through the resistance of 53.85 and 54.30, crude oil price trend should downward, target to $50. Note that the sharp increase in crude oil inventories in the US API and EIA tomorrow could affect the fall in crude oil futures prices, and vice versa.
 
XAUUSD 
1333/1338 resistance
1318/1313 support
The US economy into recession. The U.S. real GDP in the first quarter held only to market expectations, and U.S. manufacturing PMI and job data expectations slowed in May. With the Fed reserve expected to cut interest rates in September, Treasury prices continued to fall and the dollar lost its advantage. As this analysis pointed out last week, the market hedge funds began to flow into the gold market, the price of gold will rise significantly. Besides, if the global stock market falls, also boost gold prices. If the fundamentals improve, gold prices downward. Technically, the gold price broke through the resistance of 1323 in March, and the next resistance was referred to as 1333,1338. If the gold price falls 1318 to support, the next level of 1313 support. Believe that the market is watching the U.S. job report, gold prices maintain an upward trend.
 
U.S. Dow futures US30
24935/25015 resistance
24640/24450 support
The U.S. manufacturing PMI dropped again and job data will lower inflation, hurting U.S. corporate earnings growth and depressing the stock market. The lack of good news at the moment will hamper the market's upside. At present, the stock market is estimated to increase downward. No any positive comments to boost the stock market rebound. Assuming that without any positive comments, the stock market is watching this week's U.S. job report.
 
BTCUSD:
8550 / 8750 resistance
7550 / 7300 support
Trade tension, US data showed slow down. Expected Fed will not be intended to interest hike, the bitcoin demand increasing. Now, keeps watching the China and U.S. trade tension. If a positive outlook, bearish the price of Bitcoin. On the contrary, the Bitcoin will continue the uptrend. 
 
Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.
 

Information provided by AT Global Market, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices. 

Legal: AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 
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