Morning brief for March 21

Morning brief for March 21

2019-11-11 • Updated

 

Today’s Asian session has been something of a variation on a theme with a bit stronger USD, lower commodity currencies, higher euro and soft pound.

The euro was a winner of today’s session following the win of independent candidate Emmanuel Macron in the first French election debate. It seems that broad fears of populist drift in European politics have eased a bit. Technically, the current recovery may extend towards 1.0825 from present 1.0755. A pullback below 1.0670 would indicate the restoration of the bearish trend. Today’s focus will be on two Fed speeches both delivered from monetary policy hawks – Loretta Mester and Esther George neither, voters this year on the FOMC.

USD/JPY gained on the session having risen to 112.85. A move above 113.5 would signal us that prices entered the bullish phase.  The news flow is really light. Japan’s banks are back from holiday today. Japan’s PM Abe and German Chancellor Merkel ranged themselves against advoсates of protectionism.

AUD/USD edged down to 0.7700 having erased its yesterday’s gains. Commodities are trading lower. Another headwind was the RBA March meeting minutes that was quite dovish. The current undertone is neutral. Aussie might choose trading sideways in the range of 0.7660/0.7740. A drop below the support at 0.7630 would indicate the restoration of the downtrend.

Kiwi, in general, little changed on the session having slipped to 0.7032 from yesterday’s high at 0.7070. Today’s special focus will on the Global Dairy auction. Kiwi took some heat last time when dairy prices dropped 6.3%.

GBP/USD slid to 1.2360 mainly on the news that Article 50 will be triggered on March 29. It will launch the two years of talks between the EU and the UK. Sterling traders will be interested in tonight’s CPI release scheduled for 11.30 MT time. The inflation figures are expected to rise from 1% to 1.8% and core inflation from 1.6 to 1.7%. A disappointing release can sand prices to 1.2333 or lower towards 1.2320.

USD/CAD spiked to 1.3360 in the course of the past session. The US dollar has a room for further appreciation. The immediate resistance is located at 1.3420. Loonie’s watchers will cast their eyes on the Canadian retail sales report and current account data. On the downside, there were several sturdy supports at 1.3280 and 1.3210.

Oil prices edged higher towards $51.87 after investors renewed their expectations that OPEC and non-OPEC members extend their output cuts beyond the official deadline – June.

 

Similar

What Can Drive Oil below $90 a Barrel?
What Can Drive Oil below $90 a Barrel?

The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.

Latest news

TRADE IDEA: IS THE FUTURE OF GOLD CLEAR YET?
TRADE IDEA: IS THE FUTURE OF GOLD CLEAR YET?

For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances

TRADE IDEA: Technical Breakdown of Top Cryptos
TRADE IDEA: Technical Breakdown of Top Cryptos

Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.

CBDC: Technology of the Future or Dystopia?
CBDC: Technology of the Future or Dystopia?

Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of ​​creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera