Daily Market Analysis from NewForex Broker

[Volfovich]

Forex News from New Forex: The US dollar falls against the major currencies

In the trading on Friday, May 22, the dollar plummeted versus the basket of major currencies, as investors are in the expectation of the US inflation data. On Thursday it was reported that the number of citizens applying for the initial jobless benefit rose by 10,000 to 274,000.

The US National Association of Realtors stated that in April home sales declined by 3.3% to 5.05 mln. units. According to the report of the Federal Reserve Bank of Philadelphia the manufacturing index in the state slipped from 7.5 in April to 6.7 in May.

The dollar index slid 0.57% to 94.93. In this situation the euro jumped 0.78% to 1.1199 versus the greenback. The European currency got support after the announcement of the ECB President Mario Draghi that the ECB policy accelerates the recovery of the Eurozone economy.

The pair pound/dollar is trading at 1.5652. The dollar has dropped against the yen and the Swiss franc by 0.22% and 0.84% respectively. The Aussie is steady, the pair AUD/USD is at 0.7896, but the kiwi has strengthened against the buck by 0.29% and rose to 0.7369.

 

[Volfovich]

Forex News from New Forex: The Aussie approaches a 3-week low against the greenback

In the trading on Monday, May 25th, the Japanese yen is flat. The recent data showed that export in Japan has considerably grown, but import dropped below expectations. The trade balance of the country has the deficit of ¥319 billion, export picked up 6.4%, import shed 1.5% last month year-on-year. The pair USD/JPY is at 121.57.

The Aussie comes to a 3-week low against the greenback. The demand for the US dollar was supported by the comment of the Fed chair Jannet Yellen. As she said, the Fed would raise the interest rate this year. After that there will be a slow and gradual increase of the rate during several years. On Friday the consumer price index in April was released, it climbed 0.1%. Year-on-year consumer prices edged down to 0.2% last month, in March the drop was 0.1%.

The pair AUD/USD is at 0.7804 today, a low of May 5. The possible level of support is 0.7761, a low of April 24, a level of resistance 0.7932, a high of May 22. The Aussie is higher against the euro, the currency advanced 0.17%. The pair EUR/AUD is at 1.4053.

 

[fxapex]

GBPUSD has been on a negative trend, if it could find a support at this level , its going to trade in a tight range.

 

[Volfovich]

Новости Форекс от NewForex: Стоимость нефти снижается на фоне сильного доллара

Фьючерсы на нефть снижаются вторую неделю подряд на фоне беспокойств по поводу возможного роста добычи сланцевой нефти в США и укрепляющегося доллара. Крепкий доллар делает сырую нефть менее привлекательной для держателей других валют.

На Нью-Йоркской товарной бирже сырая нефть с доставкой в июле потеряла в стоимости 47 центов или 0,8%, остановившись на уровне $59.25 за баррель. Стоимость нефти колеблется в диапазоне $59.11 и $60.01. В пятницу нефть опустилась на $1.00 или 1,65%, закрыв торги на отметке $59.72.

Данные прошлой недели показали замедление в добыче американской нефти. Согласно последним показателям, количество скважин в США сократилось до 659, спад продолжается 24 неделю подряд. Однако текущее понижение вызывает опасения по поводу вероятного увеличения производства сланцевой нефти в ближайшие месяцы, если цены на нефть стабилизируются.

В Лондоне стоимость нефти марки Brent с доставкой в июле упала на 23 цента или 0,35% и находится на отметке $65.14 за баррель. Спред между контрактами на Brent и WTI составляет $5.89 за баррель.

Мировой спрос на нефть продолжает расти. В апреле импорт нефти в Японии поднялся на 9,1% в годовом исчислении до 3,62 млн. баррелей в день. В Китае за тот же самый период импорт побил рекорд в 7,4 млн. баррелей в день.

 

[Volfovich]

Forex News from New Forex: The US dollar rises again

In the trading on Tuesday, May 26th, the kiwi has fortified versus the US dollar climbing 0.01% to 0.7310. In contrast, the pair euro/dollar shed 0.07% to 1.0970. The trading balance of New Zealand increased to NZ$123 million in April month-on-month, year-on-year the deficit is NZ$2.62 billion.

In Japan the corporate services price index advanced 0.7% last month. The pair dollar/yen is at 121.61 gaining 0.04%.

The dollar index jumped 0.22% to 96.46. Overnight the greenback was higher against the basket of major currencies, investors noted the increase of consumer prices last month which has been observed for a third month in a row.

The single currency slides due to the overhung threat of default in Greece. On Sunday the Interior Minister of Greece commented that the country would not be able to pay €305 million to the International Monetary Fund until June 5th if the agreement over the reforms is not reached with the international lenders.

 

[Volfovich]

Forex News from New Forex: The European shares trade steadily

The European indexes display positive dynamics in the trading on May 27. The FTSEurofirst 300 index, which includes leading European companies, advanced 0.4% to 1,608.86 after hitting a week low in the previous trading session.

The shares of the energy sector are in demand today. Amidst the rise of the STOXX Europe 600 index, the index of oil and gas gained 0.4%. The oil prices increase due to the expectations of the subsequent decline of crude oil stocks in the USA. The activity of the construction sector contributes to the market growth. The construction sector surged 0.8%.

The recent study of the consumer confidence in Germany was one more factor to boost the market. Citizens are ready to make purchases as the consumer confidence is on a high level.

Among the companies whose shares were active today it is worth mentioning the Italian insurer Generali. The shares edged up 1.5% after its announcement about paying cumulative dividends of more than 5 billion euros till the end of 2018. The shares of Nokia picked up 2.5%, the management stated its intention to buy the US company Eden Rock Communications.

 

[Volfovich]

Forex News from New Forex: The shares of Japanese companies are on the rise

In the trading on Thursday, May 28th, the Japanese yen shed 0.13% against the buck, the pair is at 123.80. The pair AUD/USD changed its direction and slid 0.56% to 0.7691. The pair euro/dollar gained 0.10 and is at 1.0915. The dollar index, which measures the position of the dollar to other major currencies, has dropped by 0.04% to 97.30.

The report of the Bank of Japan demonstrated that the central bank is ready to postpone the targeted inflation level of 2%, this fact raises expectations of the further monetary easing in 2015. The retail sales in Japan advanced 5.0% in April year-on-year, it is the first rise in 4 months.The Japanese index Nikkei 225 hit a new 15-year high at 20,609. The shares of company-exporters took off. Among the main gainers are Honda Motor and Toyota Motor, whose shares climbed over 2.0%, Sony picked up 1.8%.

The financial sector is advancing actively. The company shares of Mizuho Financial edged up to 5.5%, Resona Holdings and Sumitomo Mitsui Financial Group picked up 3.6% and 2.8%, respectively.

 

[Volfovich]

Forex News from New Forex: The pound loses gains against the dollar and the euro

The pound dropped against the buck in the trading on Thursday, May 28. The fresh data indicates that the economic growth of the UK in the first quarter did not alter in comparison with the preliminary estimates. The pair pound/dollar is at 1.5330.

The Office for National Statistics announced that the growth of the GDP was 0.3% in the first quarter which is below the forecast at 0.4%. Year-on-year the GDP upsurged 2.4% in compliance with the initial estimates.

The growth of the industrial sector is 0.1%, although analysts expected a 0.1% fall. The construction sector declined from 1.6% to 1.1%. The sector of services slipped from 0.5% to 0.4%.

The pound is lower against the single currency, losing 0.41%. The pair euro/pound is at 0.7130. The further advance of the single currency is blocked by the concerns over the possible default of Greece. Yesterday, on May 27th, the representatives of the Greek government stated that they have already started preparing a draft agreement with international lenders, which is a step forward in long negotiations over the financial aid to Greece.

 

[Volfovich]

Forex News from New Forex: The yen slips against the dollar and the euro

In the trading on Tuesday, June 2, the greenback hit a 12-year high against the yen. The upsurge of the manufacturing activity boosted the rise of the US currency. The pair dollar/yen climbed to 125.06, a high since November 2002.

The ISM index in the manufacturing sector advanced from 51.5 in April to 52.8 in May, exceeding the forecast at 52.0. The data demonstrated the rise of orders and employment. Construction spending surged 2.2% to the annual level of $1.0 trillion, a high since November 2008. Meanwhile, the buck has ignored relatively flat consumer spending in April.

The euro is higher versus the greenback today, the pair euro/dollar gained 0.21% to 1.0948. Yesterday European creditors claimed that intensive work would be carried out on Tuesday to reach complete agreement with Greece. The single currency approached a 2-week high against the yen, the pair euro/yen is at 136.46.

The dollar index, which measures the position of the greenback to other major currencies, edged down to 97.34, which is close to a 5-week high, which was hit last Wednesday.

 

[Volfovich]

Forex News from New Forex: The euro hit an intraday high against the dollar

In the morning trading on Tuesday, June 2, the euro reached an intraday high as May consumer prices in Eurozone demonstrated a growth for the first time in six months after a long-lasting stagnation. The pair euro/dollar hit 1.0995. The expectation of reaching agreement between European lenders and Greece bolsters the uptrend of the single currency.

The consumer price index in 19 EU countries advanced 0.3% in comparison with the previous year. Economists predicted only a 0.2% increase. The underlying inflation, which includes energy prices, food and alcohol, has considerably risen. The core inflation surged 0.9% after a record low at 0.6% in April.

Cheap oil prices continue to pull down inflation. The energy prices shed 5% year-on-year. The latest data shows that the quantitative easing program launched by the European Central Bank has an effect on the region’s economy. Now it is often discussed whether the ECB will decide to prolong its program, which is due to terminate in September 2016, or not.

 

[Volfovich]

Forex News from New Forex: The kiwi gained ground against the US dollar

In the trading on Wednesday, June 3, the NZ dollar advanced against the greenback. In the Asian tradings the pair kiwi/dollar hit 0.7192 and later consolidated at 0.7186 surging 0.10%. The possible level of support for the pair is 0.7081, a low of June 2, a level of resistance 0.7274, a high of May 28.

The US currency is currently under pressure after the release of factory orders. The figures dropped by 0.4% in April falling short of upbeat expectations at 0.2%. Year-on-year factory orders declined by 6.4%, the downtrend has been observed for the sixth months in a row.

The kiwi edged down against the Aussie today, the pair AUD/NZD picked up 0.36% to 1.0860. The GDP of Australia in the first quarter climbed 0.9%, although a forecast was 0.7%. Year-on-year the increase is 2.3% during the first three months of 2015.

The Aussie hit a week-high against the buck, the pair AUD/USD is at 0.7804 surging 0.46%. The possible level of support is 0.7723, a low of May 26, a level of resistance 0.7840, a high of May 26. The Aussie climbed against the single currency, the pair EUR/AUD shed 0.15% to 1.4324.

 

[Volfovich]

Forex News from New Forex: Oil prices decline ahead of OPEC meeting


On Wednesday, June 3, oil prices have considerably dropped in the anticipation of the forthcoming OPEC meeting. Some experts assume that the organisation will decide not to change the volume of oil output in spite of huge global supplies.

On the ICE Futures Exchange in London Brent oil with the delivery in July shed $1.50 or 2.29%. In the European trades oil reached $63.99. Prices edged down after the comment of one of OPEC members about keeping the oil production at the same level, 30 mln. barrels a day.

On the New York Mercantile Exchange crude oil with the delivery in July slipped to $1.35 or 2.21% reaching $59.91 a barrel. A day earlier black gold rose to $61.58 picking up $1.06 or 1.76%.

Spread between Brent and WTI is $4.08 a barrel. According to the latest data the number of rigs in the USA decreased last week by 13 to 646, which is the biggest fall in May. In these circumstances oil inventories rose to 1.8 mln. barrels.

 

[Volfovich]

Forex News from New Forex: The Aussie plummets against the euro and the greenback

On Thursday, June 4, the Aussie shed against the US counterpart. Weak economic data from Australia triggered the downtrend of the currency. The pair AUD/USD slipped to 0.7710, a low of June 2, but later consolidated at 0.7721 losing 0,83% at the end of Asian tradings. The possible level of support for the pair is 0.7615, a low of May 28, a level of resistance 0.7820, a high of June 3.

According to the new data retail sales in Australia kept flat in April which disappointed investors as a 0.4% rise was expected. The trade deficit edged up to A$ 3.88 mln.

The Aussie is slumping against the euro, the pair EUR/AUD jumped 0.57% and is at 1.4563.

Export dropped by 6% in April, while import climbed 4%. A significant export fall is explained by the closure of the port due to bad weather conditions, coal export slipped to 22%. On the other hand, tourism picked up 13% year-on-year due to the low Aussie rate. Japan remains the main trading partner of Australia.

 

[Volfovich]

Forex News from New Forex: Technical analysis USD/JPY

The graph of the current trading instrument after the rebound from 124.33 on Friday reached 125.85 forming a bullish candle in the day timeframe which determines a further uptrend of the currency pair presumably to the next resistance at 133.80. In case of its breach there might be a rise to 135.20. Thus, we intend to buy with increasing volumes as long as the price reaches the above mentioned resistance levels. Trades to sell seem highly risky in these circumstances.

 

[Volfovich]

Forex News from New Forex: Technical analysis EUR/USD

After hitting a high at 1.1279 on Friday the European currency lost ground against the dollar a bit and edged down to 1.1049 forming a clear-cut bearish candle which appeared due to the statistic data from the USA. It might be assumed that the further market movement will keep its bearish sentiment up to support at 1.0886 and then in case of passing it move to 1.0815. Long positions seem quite risky until the price goes beyond the resistance borders above 1.1378.

 

[Volfovich]

Forex News from New Forex: Technical analysis EUR/JPY

During the Friday trading the pair EUR/JPY bumped into a strong resistance at 140.69. It implies the declining tendency to support at 137.85 and in case of its breach there might be a confident movement to 136.10. In this situation short positions with stop-limits above 140.95 are preferable. Otherwise, in favor of long positions and overcoming resistance at 140.95 it will go to 144.20.

 

[Volfovich]

Forex News from New Forex: Technical analysis of XAU/USD

Gold with Friday positions within the range from a high at 1178.39 to a low at 1162.59 has been trading with a certain bearish sentiment, however, it pares earlier losses today and is trading between the nearest support level at 1162.00 and resistance at 1196.20. In case of passing this level, there might be a rise to 1204.00. We intend to open short positions below the support level at 1162.00 or with a view of the rebound to a psychologically significant level at $1200 per troy oz.

 

[Volfovich]

Forex News from New Forex: The Aussie strengthens

In the trading on Tuesday, June 9, the Australian dollar has gained ground after upbeat business climate data. Negative news from China did not have a significant influence on the currency. Consumer prices in China shed 0.2% in May, producer prices slipped to 4.6%.

The pair AUD/USD surged 0.01% and is at 0.7705, dollar/yen picked up 0.04% to 124.54, euro/dollar gained 0.03% to 1.1296. The dollar index slid 0.04% to 95.19.

In Australia the business confidence and conditions index gained 7 points each in comparison with April figures. Home loans climbed 1.0% in April month-on-month.

The dollar advances after the increase of working places in the USA up to 280 000 in May, although experts predicted a rise only to 220 000. The euro gains amidst the positive dynamics of the 10-year German bond yields.

Meanwhile, investors are in the anticipation of the agreement between Greece and Eurozone. Angela Merkel, the German Chancellor, stated on Monday that there is not much time left for the mutual agreement with Greece. It is worth reminding that Athens should pay their debt till the end of June, it is the condition for further monetary aid, otherwise the country will run out of money.

 

[Volfovich]

Forex News from New Forex: Technical analysis AUD/USD

On Monday the Australian currency closed trades with a clear-cut bullish candle which raises expectations of its further strengthening against the greenback and a rise of the market.

The nearest resistance is at 0.7764 with support at 0.7653. We assume that it will advance to 0.7784 and after passing this level the instrument will move to 0.7800.

 

[Volfovich]

Forex News from New Forex: Technical analysis GBP/USD

In the morning session on June 9th in London the pound is steady against the US dollar in the expectation of the trade balance. If during the trades today the market goes above 1.5430, there might be a further rise to 1.5468 and then up to 1.5510. In case of the downwards breach of 1.4285, the bears can push the market down to 1.5246 and 1.5208.