ONLINE FOREX BROKER
2019-11-11 • Updated
The women are inconstant, unpredictable creatures, what can I say. Since the very first speech as a Tory leader, Theresa May repeatedly told the press that she would not seek a snap election in the UK because it would cause "instability." And now look at her! She is calling for an early election in June in order to guarantee certainty and stability. Polls currently show the Tories outstripping the Labours, so there is a good chance that the government might increase its majority in Parliament and cement authority that is so needed in the troublesome period of Brexit negotiations. The Pound rallied hard on the news and hit 1.2905 overnight. With no fresh catalyst, it skipped a few points in Tokyo session. The bullish undertone is still intact though as long as quotes are hovering above 1.2660. There is a room for further extension towards 1.2950.
EUR/USD edged down to 1.0720. In just a few days before the first round of French presidential elections, the majority of polls show independent Emmanuel Macron and the National Front’s Marine Le Pen taking the top two spots. In the second round, the win is promised to Macron. Yet both front-runners have been incessantly losing their support in the course of the past two weeks, and Republican Francois Fillon and Communist-backed Jean-Luc Melenchon are now within striking distance. Today’s focus will be on the Eurozone final CPI figures coming at 12:00 pm. The impact on EUR/USD pair will be limited as traders have already put up with the disappointing flash measure that came in at 1.5% instead of expected 1.8%.
USD/JPY was trading a bit higher at around 108.70 as geopolitical tensions amid Korean peninsula eased off a bit. Traders might benefit from Trump’s serenity for a while and capitalize on the strengthening USD. On the downside, you may find several supports located at 108.10 and 108.00.
Aussie was one of the underperforming currencies in Tokyo session. AUD/USD fell below 0.7520 (100-day MA) mainly on the tumbling iron ore prices and dovish RBA meeting minutes we got on Thursday.
USD/CAD went higher to 1.3400 as we received reassurance that Fed officials are still sticking to the script of two more rate hike for this year. The Fed’s George said yesterday that she would stick to the base case and wouldn’t allow the inflation rate to overshoot the 2% goal.
Oil prices were a bit higher in the Asian session being supported by outages sparked in Venezuela (one of the largest oil-producing countries). Yesterday crude oil futures dropped a bit on the private inventory data in the US. Today we will receive the official EIA numbers on the US crude inventories that might reflect the data we saw yesterday, so there can be some additional dips in oil prices.
Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.
China's economy is rocketing. On the other hand OPEC+ countries take the decision to cut the production. What will be the impact on the oil price?
The EU plans to intervene in markets directly to curb rising energy costs, threatening to push the Euro area's economy into a deep recession.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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