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Calendar event / Friday at 14:15 GMTpreviousforecastactualHigh Industrial Production, M/M%+0.6%+0.2%+0.3%High Capacity Utilization %78.5%78.5%78.7%Med Capacity Utilization, Net Chg (Pts)+0.4+0.1
Calendar event / Thursday at 13:00 GMT
Squawk / Tuesday at 6:30 GMTEquities poised for further up legs t the 2019 advances
Global equity indices have posted solid, sideways consolidation activity over the past week, defending support levels from the recent early 2019 recovery rallies.
The strong advances so far this year have been driven by both a more dovish tone from the Federal Reserve in the US and a perception of positive progress on trade talks between the US and China.
The consolidations that have been seen into mid-January should provide platforms from which to launch higher, to challenge more significant resistance levels and turn the intermediate-term outlooks for equity indices from bearish to neutral and even to bullish.
Below we focus on the US broad benchmark average, the S&P 500 E-mini and the German benchmark, the DAX.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/equities-poised-for-further-up-legs-t-the-2019-advances/
Squawk / 14 January 2019 at 8:24 GMTUSDCAD poised for an intermediate-term bear shift; USDJPY neutral
A broadly more negative tone for the US Dollar has been seen in early 2019, given a more dovish tone from FOMC Members, including the Fed Chairman, Jerome Powell.
Furthermore, a global shift to “risk on” has also been seen in early January, with easing trade war concerns.
The above macroeconomic fundamental shifts, alongside a firm rebound in the Oil price (after aggressive weakness in Q4 2018) has seen USDCAD plunge lower, to neutralise an intermediate-term bull trend and threaten an intermediate-term shift to bearish (see below).
USDJPY did seem an aggressive selloff to start the year with a “risk off flash crash”, but the strong subsequent rebound has seen an intermediate-term shift back to a neutral, broader range environment.
See the full article and video analysis here: https://www.forexfraud.com/technical-analysis/usdcad-poised-for-an-intermediate-term-bear-shift-usdjpy-neutral
Squawk / 11 January 2019 at 6:48 GMTEquity averages forming better bases
In previous articles already this week lwe have highlighted basing effort by global equity averages (the S&P 500 and DAX).
These technical bottoming attempts have been reinforced through this week from the fundamental side by apparent progress in the US-Sino trade talks and further dovish comments from Fed speakers, with the FOMC Minutes on Wednesday reinforcing these dovish outlooks.
Here we revisit the S&P 500 future, which has recently neutralised an intermediate-term bear theme, with the asymmetrical risks towards an intermediate-term bullish shift.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/equity-averages-forming-better-bases/
Calendar event / 10 January 2019 at 12:30 GMT
Calendar event / 10 January 2019 at 10:00 GMT
GR Labour Force SurveypreviousforecastactualMed Unemployment Rate18.6%18.6%
Squawk / 10 January 2019 at 7:04 GMTEURUSD intermediate-term bullish shift with GBPUSD poised for similar
A weakening of the US Dollar has been a theme across Forex markets in early 2019.
This has mainly been driven by a more dovish tone from Federal Reserve members since latter 2018, and in particular from the FOMC Chair, Jerome Powell into early January, reinforced Wednesday by the most recent FOMC Minutes.
The weakened US Dollar has seen the EURUSD currency pair recently surge through 1.1545 resistance, switching the intermediate-term outlook from neutral to bullish.
The GBPUSD rebound for early 2019 has positioned this FX rate to make a more positive technical statement in at least the short-term, as we go into a key Brexit phase in the UK Parliament.
See the full article with video analysis here: https://www.forextraders.com/forex-charts/technical-analysis/eurusd-intermediate-term-bullish-shift-with-gbpusd-poised-for-similar/
Calendar event / 09 January 2019 at 19:00 GMT
Calendar event / 09 January 2019 at 15:00 GMT
CA Bank of Canada interest rate announcementpreviousforecastactualHigh Overnight Rate1.751.75Med Overnight Rate, Net Chg (Bps)00