Monday: April Factory Orders data will see light in the U.S., where analysts eye a 0.2% MoM contraction. It will be followed by the final estimate of April’s Durable Goods Orders data. Tuesday: May Consumer Price Index data will see light in Russia, where inflation has recently moderated to 4.1% annually. Wednesday: April Factory Orders data will see…
EUR/USD: With the pair closing higher the past week, risk of more strength is likely. Resistance comes in at the 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. Its daily…
Last week’s news was evenly divided between good and bad release. Starting with the negative, there is Friday’s jobs report: the headline figure was a paltry 138,000. Adding to the bearishness was the 60,000 decline in previous month’s growth. There are other negative elements starting with weak wage and hourly earnings growth: The percentage of…
Concern! If there is one major theme fast approaching investors and traders as we blast through record levels for the major U.S. indices it has to be concern. Concern will rear its cautiously optimistic head this week as several major events will play out in the public limelight. The testimony of James Comey The European…
Fundamental Forecast for Euro: Bullish Euro Resilience to Persist as Market Behavior Continues to Shift. EUR/USD Reaches New Highs as NFP Misses Expectations. The Euro played a key role in a number of the DailyFX Top Trading Opportunities for 2017. Please click here to access our trading guides, completely free of charge. IG Client Sentiment is currently short in…
AUD/USD was unchanged last week, closing at 0.7439. This week’s key events are Private Capital Expenditures and Retail Sales. Here is an outlook of the major market movers and an updated technical analysis for AUD/USD. Australian Retail Sales posted a strong gain of 1.0%, easily beating the estimate. In the US, Nonfarm Payrolls was dismal, as the gain of 138 thousand…
Recall the Monty Python line “A minute passed quickly past”? ‘Tis how the year 2017 feels to us. The geometrically-increasing pace of unrelated, and moreover, unimportant items beset upon us on a daily basis is blurring the very passage of time itself. Indeed, 99% of what now passes for “news” doesn’t affect us a wit, nor…
The gold market was rather volatile last month. Prices dropped to the critical $1215 level, the confluence of a horizontal support and a medium-term bullish trend line, but ultimately found strong support there to climb all the way back to the $1271.50-$1269 area, leaving a long lower shadow on the monthly candle. The weakness in…
■ S&P, Nasdaq, FTSE 100, DAX rally Thu-Fri, setting new all-time highs ■ May Nonfarm Payrolls fails to meet analyst 182K expectations, managing a meek 138K job gain ■ Markets still eye June 14th Fed hike ■ USD to devaluates 0.6% vs. EUR on Friday, 0.9% vs. JPY on lowered Fed policy outlook ■ Oil declines…
There are again relatively few high-impact news items scheduled this week, compared to last week. However, very important central bank input is due from the European Central Bank, as well as from the Reserve Bank of Australia. A General Election will be held in Britain on Thursday and as results come in at the end…
