How Much Did the US Economy Grow in Q2?
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
News to trade on October 18
- Yesterday in Brussels the EU leaders declined the plans for the November summit as not enough progress on Brexit was made. Despite the British Prime Minister Theresa May's arguments, the EU started to prepare for a "hard" or "no-deal" Brexit. As a result, the GBP fell.
Today's focus is again on the British currency. The level of retail sales fell by 0.8%. At the moment GBP/USD is testing the support at 1.3094 (100-day MA). If there is more positive news concerning Brexit, the GBP will be supported. In that case, the pair can move up to the resistance at 1.3146.
- The unemployment rate in Australia was released today. It fell to 5.0%. However, employment change published at the same time showed a lower-than-expected level of 5600 people in September. For now, AUD/USD is trading in the green zone. The next target resistance is at 0.7152. If the USD is strong, the pair can move in the opposite direction. If it happens, the support is at 0.7096.
- The Bank of Japan (BOJ) Governor Mr. Kuroda made his speech at a branch manager's meeting today. According to his words, the short-term and long-term interest rates will be kept at the current lowest levels for as long as necessary. Consumer inflation keeps floating around 1%. The overall conditions of the financial system of Japan remain stable. The current targets of the BOJ include managing the yields to achieve the inflation of 2% and expanding the monetary base until consumer inflation is held above 2%.
In addition, the trade balance of Japan showed a surplus of 139.6 billion yen, while the deficit of -45.1 billion yen was expected. As a result, today USD/JPY is declining. The pair is moving downwards to the support at 111.90 (50-day MA). If there is any positive news concerning the USD, it will encourage the bulls to break the resistance at 112.65 and move up to the next resistance at 113.47.
- Yesterday the Federal Reserve made some hawkish comments during the Federal open market committee (FOMC) meeting minutes. In addition, the US Treasury did not consider China as a currency manipulator. According to the report, China does little to directly support the value of Chinese yuan. However, it listed the US trade war opponent on a watch list. At the time, USD/CNH is trading at its summer's highs. The next resistance is at 6.9522. If the USD weakens, the support is at 6.91.
Follow us for more news!
Similar
Gold and Bitcoin Rise, Fed is Eyed
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
Hong Kong Index and Gold Dropped, Tesla Reported Strong Earnings
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
Latest news
Trade ideas for August 2-6
What events to follow and how to trade during the week of July 2-6?
EUR/USD is Ready for Reverse, Amazon's Poor Results
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
Weak USD, Gold and China's Stocks Recover
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
Deposit with your local payment systems
