Market News

Chinese Economy Growing Steadily

by RoboForex on 2018-04-17 14:32:44 | 0 comments

Q1 was overall good for China, although not in each and every aspect. The Chinese GDP rose by 6.8% YoY between Jan and Mar, quite in line with the expectations. This is the same rate as in Q4 2017. Meanwhile, manufacturing production declined compared to the previous value, rising only by 6% against 7.2%, and even against the forecast at 6.4%. Retail sales jumped by 10.1% YoY, heavily beating the expectations. Investments were rising by 7.5% YoY, a bit short of the previous December value at 7.9% and failing to meet expectations...

Yen Rising As Safe Haven Demand Increases

by RoboForex on 2018-04-03 15:20:33 | 0 comments

The Japanese yen confirmed its safe haven status again. The previous correction was quite technical, as the market was trying to balance the USD/JPY pair without any significant fundamentals published. Now, the economic events are flowing into the market again, and the news are very much negative, which, as a rule, does influence the Japanese currency.  First and foremost, the markets are very wary about the 'trader war' between the US and China, which can start any time. The US government imposed some customs duties unilaterally against steel and aluminum a few weeks ago...

GBP Doing Good Despite the Fundamentals

by RoboForex on 2018-01-22 13:43:52 | 0 comments

Last week was good for the British pound, and the cable is still near the few-month highs as we are heading into week 4 of January. It looks like the market has finally abandoned all concerns with the Brexit negotiations, allowing the politicians to put an end to the issue without any trouble. Meanwhile, Theresa May said there will be no additional Brexit referendum. Indeed, the talks about second referendum are groundless, although this topic is being very much discussed. Still, the referendum that was held in June 2016 is well enough for making a strategic decision...

Gold Rallying Steadily

by RoboForex on 2018-01-15 15:54:53 | 0 comments

Gold has been growing up steadily this year. By mid January, the yellow metal is at $1344.30, adding 0.7% to its price. Gold started growing in mid December and is moving ahead quite firmly in the lights of the weakening US dollar. The market does not believe in the greenback and does not pay any attention to the fundamentals. On Friday, the US inflation report came up mixed, with the CPI growth by just 0.1% MoM, as expected. Base inflation did much better, with 0.03% growth MoM, the expectations being at 0...

The Oil Calmed Down After Forties Pipeline System Failure

by RoboForex on 2017-12-19 08:40:36 | 0 comments

Last week, the commodity market was very sensitive to the news about the Forties pipeline system breakdown and the fact that the pipeline had to be closed for maintenance. Brent reached the local high at 65.83 USD per barrel. However, after a couple of days this “bullish frenzy” died down and investors started analyzing the situation. It became quite clear why Brent was rising so fast, WTI was behind, and what was the reason of all this. The Forties pipeline is very important for the United Kingdom and the oil extraction in the North Sea in general...

The Dollar was supported by November reports on the US labor market

by RoboForex on 2017-12-12 07:43:37 | 0 comments

The EUR/USD pair was so impressed by last Friday’s statistics on the US labor market, that it managed to update the low it had reached on November 20th. The reports were positive indeed. Of course, there were some nuances, but in general, the statistics was very good.  So, the unemployment rate in the USA in November remained unchanged as expected, at 4.1%, the same as the October reading. It’s a very good result, given that a lot of investors had doubts about stability of the indicator...

Oil Will Be Led By Politics

by RoboForex on 2017-12-04 15:12:18 | 0 comments

The OPEC’s November decision on the extension of the agreement, which establishes strict borders and limits for the oil extracting countries, was quite logical. The agreement has been extended at least until the end of 2018. So, the main question for the nearest future is how the OPEC is going to terminate the agreement if the organization has no plan B. On the first Monday of December, oil prices are trying to start a correction. Brent costs $63.41 (-0.5%); WTI lost 0.7% and right now is $57...

Euro Owes Its Strength to the News

by editor on 2017-11-30 07:23:55 | 0 comments

At the end of November, the Euro is feeling very well. A remote possibility of creating a governing coalition in Germany and a strong report published by the European Central Bank supported the main currency pair while the United States of America was celebrating the Thanksgiving Day. The EUR/USD has potential to reach 1.20 and grow higher, unless the news and the German politics throw investors “a curve ball”. Once again, investors have turned to Germany’s issue relating to a governing coalition...

Rumors make the Oil go up

by editor on 2017-11-21 19:12:41 | 0 comments

The oil market has another reason to recover. At the beginning of last week, they were selling oil because there were rumors that Russia had no interest to extend the OPEC+ agreement, but at the end of it the price movement direction changed to the opposite. Saudi Arabia announced that Russia would support the OPEC+ agreement extension after March 2018. The closer November 30th is, when the OPEC is going to have a meeting in Vienna, the more doubts investors have about future announcements and actions...

The US Dollar Doesn’t Like Talks About The Rate

by editor on 2017-11-15 15:23:07 | 0 comments

Despite being pretty clear and logical, talks about the benchmark key rate increase in the USA in December are “haunting” some monetary politicians and investors. These doubts, which were mentioned in Patrick Harker’s comments below, put pressure upon the “sensitive” USD. Not long time ago, the FOMC member Patrick Harker said that one should be very careful when estimating the USA inflation and the Federal Reserve had to be ready for any stresses and shocks in the economy...

The USD is keeping balance

by editor on 2017-11-07 19:37:49 | 0 comments

In October, the Non-Farm Payrolls added 252K, although it was expected to expand by 313K. However, the September report was revised upwards (+15K) and sort of wore off the first impression of the statistics. The Average Hourly Earnings didn’t change; on YoY, it’s still 2.4%. This report also got investors’ attention: the predicted reading was 2.7% y/y. There was a similar situation this year, when the capital market focused on this very parameter and prevented the USD from being supported by other reports, which were pretty good...

The Oil is Updating Its Highs and Getting Ready for a New Attack

by editor on 2017-10-31 13:14:41 | 0 comments

The oil is still getting more expensive. Last Friday, the Brent futures contract price for December broke $60 per barrel and continues rising at the beginning of this week. The “bulls” clearly had enough time to “rest” during the weekend and right now are ready for new highs. The oil hasn’t been so expensive for more than two years – the current levels were last reached in July 2015. In early November, market conditions remain in favor of the oil buyers. It means that there might be more records in the future...

The Japanese Yen is planning to weaken

by editor on 2017-10-23 19:12:25 | 0 comments

"Abenomics” will continue. The Liberal Democratic Party led by the current Japanese Prime Minster, Shinzō Abe, secured a victory during the elections that took place last weekend. However, such results were expected: frankly speaking, the Opposition has nothing to offer instead of the current fiscal and monetary policy. Hardly anybody is ready to take responsibility for the weak inflation and the gradual increase of the national debt, but Abe, for example, is staying in power and continues being responsible for country’s financial and economic system together with the Bank of Japan...

The US Dollar is Vulnerable, But It’s Temporarily

by editor on 2017-10-17 15:11:37 | 0 comments

The US Dollar can’t manage to continue growing, and the more attempts to rise it makes, the more doubts appear that it can really rise during this particular period of market fluctuations. The EUR/USD has clearly set a course for 1.20 and may resume falling only after reaching this level. The statistics is against the USD so far. The numbers published last week, which were followed with insight, turned out to be weaker than expected and investors lost their interest (that was already very low) to the American currency...

Morning Call 1.11.2016

by editor on 2016-11-01 08:16:20 | 0 comments

Yesterday`s news & numbers UK100 6981 +0.63% Germany30 10725 +0.44% France40 4535 +0.49% China's official Purchasing Managers' Index (PMI) expanded at the fastest pace (51.2) in more than two years in October, adding to views that the world's second-largest economy is stabilizing thanks to a credit and housing boom. Sterling slipped 0.1%to $1.2230 but was underpinned by news that Bank of England Governor Mark Carney said he would stay in his job for an extra year, until the end of June 2019...

We’ll know soon if the SP 500 is headed for a 22% wipeout

by editor on 2016-10-17 12:44:37 | 0 comments

Coming off a second week in a row of losses, the stock market feels more prone to waves of volatility than it has been in the recent past. That could make for some queasiness in the coming week as big name earnings combine with whatever ridiculousness is served up next from the elections. Bulls might find a kernel of hope in historical data that points to strong finishes in years when October hits the skids. In fact, the Dow over the last 120 years has gained an average of 6.8% from its lowest October close through December 31...

Dollar holds gains as investors set their watches for jobs data

by editor on 2016-10-06 07:42:25 | 0 comments

The dollar held on to much of its overnight gains against the yen in Asian trade Thursday, as investors await Friday’s U.S. jobs data to shape their views on the Federal Reserve’s next move. The greenback USDJPY, +0.19%  was changing hands at ¥103.50 after going as high as ¥103.62 earlier in the session. The U.S. currency was at ¥103.50 late Tuesday in New York. Powered by strong U.S. service-sector data, the dollar surmounted a crucial resistance at ¥103.25 overnight -- a level which had capped the U...

Draghi Goes Head-to-Head With German Critics of ECB Policy

by editor on 2016-09-28 08:27:45 | 0 comments

Mario Draghi is facing some of his prominent German opponents as lawmakers in Berlin get a rare chance to press him for an eventual end to record-low interest rates in the euro area. Four years after the European Central Bank’s president last met German lower-house members, dissatisfaction about the ECB’s asset-buying program and rate policies runs deep, particularly among Chancellor Angela Merkel’s lawmakers. They’ll have 90 minutes to spar with Draghi in closed session on Wednesday, including over his insistence that Germany’s budget surplus means it has fiscal leeway to boost demand...