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Calendar event / 14 May 2019 at 20:30 GMTpreviousforecastactualMed Crude Stocks, Net Chg (Bbls)+2.8M+8.6MMed Gasoline Stocks, Net Chg (Bbls)-2.8M+0.6MMed Distillate Stocks, Net Chg (Bbls)-0.8M+2.2M
Calendar event / 09 May 2019 at 6:00 GMT
Squawk / 08 May 2019 at 20:31 GMTAUDUSD and NZDUSD bear trends extend, aiming still lower
Since we last looked at AUDUSD and NZDUSD, global financial markets have seen a move to a “risk off” environment, with concerns regarding US tariffs on Chinese goods potentially impacting negatively on the US-Sino trade talks.
Equity markets have plunged lower, whilst “risk” currencies like the Australian and New Zealand Dollar have suffered and the safe haven Japanese Yen has rallied.
Subsequent losses by both AUDUSD and NZDUSD currency pairs have seen these markets make new multi month lows (in the case of NZDUSD to the lowest level since October 2018), for a more negative technical picture.
A recent May rate cut by the Reserve Bank of New Zealand (RBNZ) and the expectation of a Reserve Bank of Australia (RBA) rate cut in June will likely keep pressures lower for AUDUSD and NZDUSD.
See the full article: https://www.forextraders.com/forex-charts/technical-analysis/audusd-and-nzdusd-bear-trends-extend-aiming-stiull-lower/
Squawk / 08 May 2019 at 6:03 GMTGlobal equities plunge again, for intermediate-term tops
In a report on Monday we highlighted a more negative tone and threat for the US yardstick index, the S&P 500, but also for global equity markets and averages.
This was in the wake of President Trump’s comments on Sunday 5th May, concerning further tariffs on Chinese goods, but also negative moves after the Wednesday 1st May FOMC statement, being less dovish than markets had anticipated.
The further plunge lower into midweek from ongoing fears that the US-Sino trade talks are unravelling has caused some of the major averages to signal intermediate-term topping patterns, possibly leaving markets capped for May (and maybe beyond).
Here we spotlight the European benchmark index, the EURO STOXX 50 and the broad, US flagship average, the S&P 500.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/global-equities-plunge-again-for-intermediate-term-tops/
Calendar event / 07 May 2019 at 20:30 GMT
US API Weekly Statistical BulletinpreviousforecastactualMed Crude Stocks, Net Chg (Bbls)+6.8M+2.8MMed Gasoline Stocks, Net Chg (Bbls)-1.1M-2.8MMed Distillate Stocks, Net Chg (Bbls)-2.1M-0.8M
Squawk / 07 May 2019 at 14:44 GMTUSD Index and USDCHF Intra-day Movements – Elliott wave Analysis by Gregor Horvat
USD index is currently recovering, opposed to the EURUSD where we see price dropping from the 1.1217 level, and ideally unfolding final leg c as part of a bullish ending diagonal. Here on the USD index the structure is in negative correlation, meaning that we are tracking current rise as part of one more leg within an a-b-c structure. Ideally wave c is in play, which can take price towards, and above the 98.10 level in upcoming sessions.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/usd-index-and-usdchf-intra-day-movements-elliott-wave-analysis/
Squawk / 07 May 2019 at 5:43 GMTGBPUSD – Pound stays firm on Brexit deal hopes
An extremely erratic tone for global equities and to a lesser extent for the US Dollar since early May, shifting back and forth from “risk off” to “risk on” phases through the Fed, US Employment report and developments since the weekend on US-Sino trade negotiations and tariffs.
This has left the US$ indecisive in the very short-term, BUT a key theme through this uncertain stage has been a strengthening of Sterling (GBP).
The GBPUSD Forex rate has seen a strong advance from late April through early May, driven by optimism of a Brexit agreement between the Conservative and Labour parties, to see the threat higher to target a key technical resistance level, at 1.3196.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/gbpusd-pound-stays-firm-on-brexit-deal-hopes/
Squawk / 06 May 2019 at 7:12 GMTGlobal equities plunge on trade deal threat – S&P 500
Despite solid rebounds for US and global equity averages on Friday 3rd May after the US Employment report, comments on Sunday 5th May from President Trump, regarding further tariffs on Chinese goods, have sent equity markets south today.
This negative price action has reinforced negative price signals after the FOMC statement on Wednesday 1st May and leaves risks lower, both short-term and maybe on an intermediate-term basis.
Here we spotlight the future on the broad, US benchmark index, the S&P 500.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/global-equities-plunge-on-trade-deal-threat-sp-500/
Squawk / 03 May 2019 at 6:03 GMTUSDJPY poised into US Employment report
The US Dollar has been the strong global currency against most major currencies since March of this year, despite a corrective setback at the end of April
US Dollar strength has broadly resumed this week in the wake of a less dovish tone, so de facto more hawkish tone, from Fed Chairman Jerome Powell after the FOMC decision on Wednesday 1st May.
This US$ recovery leaves USDJPY more positive in the very short-term, assisted by falling US Treasury prices (so higher yields) as we now focus on the much-watched US Employment report due for release today, Friday 3rd May.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/usdjpy-poised-into-us-employment-report/
Squawk / 02 May 2019 at 7:08 GMTUS equity indices question the immediate bull trend
A rally and then a plunge back lower on Wednesday for the major US equity averages, after the FOMC rate decision, statement and conference.
The tone from Fed Chairman Powell was that a rate cut in the near term is unlikely, which impacted negatively on US stock indices
This has eased very short-term upside risks with markets previously at or near all-time highs, shifting the immediate threat to the downside.
Here we put the spotlight on downside threats for the broad US benchmark average, the S&P 500 future.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/us-equity-indices-question-the-immediate-bull-trend/