ATFX Press Releases - 2018

[Kelly Yeung]

ATFX has been actively fulfilling their corporate social responsibilities and are committed to participating in various social welfare activities. Through different types of charity actions, they are devoted to offering care to the community. As Malaysia’s New Year Festival approaches, ATFX’s team of volunteers and IBs have organised a charity visit to offer the festive gifts toelderly people in need and sharing their love with them.


To visit the elders of Hillville Aged Care Home is ATFX's first charity event in Malaysia. The charity event was held on the 26th of May, with the financial services company sponsoring the delicious lunch which included a variety of Malaysian and Chinese dishes, as well as special gifts for them. In all, nearly 70 elderly people and more than 40 staff of Aged Care Home shared the joy of the festival together.

In recent years, ATFX has put its development focus on Southeast Asian business and is particularly concerned about people who need its help in those countries, and hence cooperating with welfare organizations in the region. This particular event was led by Mr. Keith Lee, Chief Executive Officer of AT Global Malaysia, with ATFX’s team of volunteers in Malaysia consisting of ATFX staff, IBs and their families.


Mr. Lee said, “This visit is particularly meaningful to us because we launched our first Malaysia office in Johor Bahru, where this Aged Care Home also presides. ATFX has grown rapidly over the past year and has already opened offices since entering Southeast Asia in 2017, and as a result we are very familiar with these communities. The visit provided us with another opportunity to get in touch with the neighborhood and it has meant a lot to us. On the one hand, we can serve the people who need our help, while also enhancing the relationship among colleagues and deliver our service mission to IBs.”


In the future, ATFX will not only provide financial seminars to educate its clients and IBs, but also hopes to organize more charity events across Asia.


Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 224226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

After being awarded the “Best NDD Broker” at Online Personal Wealth Awards in the first quarter of this year, ATFX (UK) the financial brokerage, is at it again, winning yet another award in the second quarter of 2018, this time it’s the “Fastest Growing Forex Broker, Europe 2017.” As its name implies, the award goes to the fastest growing FX broker on the European continent over the past year, a key market where major market-makers and liquidity providers have a significant presence.

To achieve the award, requires not just rapid growth in the number of traders they serve, but also larger financial institutions as well as funds. And given that European FX traders are spoiled for choice with a massive number of FX brokers to choose from, ATFX is proud to have been recognized for its ability to grow at a fast rate in a congested FX market. The financial services company has been working hard to ensure that it offers its clients superior secure services, with competitive spreads, in a regulated environment, and in an overall optimal trading environment.

Its recent string of successes can also be attributed to ATFX’s choice to emphasize service is king in congested retail trading market, something its CEO, Richard Craddock, confirmed recently by saying “While online interaction has gathered a great deal of pace, it is still important as a business to offer offline support. I think the more transparency we can create, the better for the industry overall.”

With its second major award this year, ATFX is confident that it is moving in the right direction by offering traders both small and large the right formula to achieve trading success. As an international online leader in forex trading, we intend to continue getting it right and remain the fastest growing broker, be it in Europe or in any other part of the world. That, combined with our multilingual support, bespoke client services and media attention we continue to attract traders to our award-winning brokerage.


Legal: AT Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. FCA registration number (760555). Registered Office: 32 Cornhill, London, EC3V 3SG. Company No. 09827091

All trading involves risk, losses can exceed your deposits.

 

[Kelly Yeung]

ATFX has enjoyed a successful start for 2018 that has involved diversified campaigns suited for traders and IBs alike, with events held across several Southeast Asian countries, including Taiwan, Malaysia, Thailand, and the Philippines. This included educational seminars and forums of great use to traders and sparked significant interest, sponsoring busy exhibitions, as well as incentive programs for traders. Whether it’s a welcome credit of $100 launched in February, or a parallel promotion offering a sizeable $2500 cash rebate, ATFX continues to build both its brand and network of traders and IBs.

But being an online leader in global trading means the financial services company has yet another amazing proposal, with the latest promotional offering being its “World Cup Promotion” for traders and IBs that will play out for the month of June. The global campaign from ATFX will give both traders and IBs a chance to participate, with the winning participants enjoying a trip to the FIFA World Cup Final in Russia to watch the final game, plus an additional $1000! Keeping it simple is key, as the traders and IBs with the highest amount of deposits and the highest number of standard lots trading during the promotion period will be chosen, for a total of four winners.*

The FIFA World Cup was first held in 1930 and has blossomed over the decades to involve over 200 teams from around the world, with its tournament a 32-team competition following a two-year qualifying process. The event – held every four years – is being hosted by Russia for the first time, is also an economic boon, involving 108 sport facilities, expected to be watched by billions, and likely receive a million guests to the host country. This will aid the construction and tourism industries sizably, while placing attention on what Russia has to offer.

And with ATFX joining the event with its promotional offering, its global perspective on a global trading environment means it is keen on providing diversified promotion campaigns as well as equipping its traders and partners with knowledge resources for an active, secure, and healthy trading atmosphere. It is for this reason that there are many plans to hold seminars and traders’ education programs, and sponsor and participate in exhibitions throughout the remainder of 2018. These include a seminar in Thailand on June 16th and Trader Fair in Malaysia at the end of the month.


*Terms and Conditions apply

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 224226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

Personal opinion today:

US President Trump and North Korean leader Kim Jong-un held a summit in Singapore this morning. Foreign Power quoted officials of the White House yesterday as saying that the two had first one-on-one talks and lasted about two hours. After that, the two sides’ consultants joined to expand bilateral meetings. Trump said earlier that he expects to reach a consensus with North Korea to make the other party give up its nuclear weapons.
North Korea reports that Kim Jong-un’s meeting with Trump is a matter of seeking to establish new DPRK-US relations and discuss plans to achieve permanent peace on the Peninsula. Both are also moving in the direction of peace, lifting the threat and will hopefully consolidate the political and economic development in the Asian region. The investment climate is expected to further improve. Seen yesterday, the atmosphere on the eve of the meeting was good. The US Dow futures and Japan’s Nikkei index had risen. China and Hong Kong stock markets also have buying orders. As the stock market rose, the dollar also rebounded against the yen and broke through 110. If the two parties further reach a consensus, the stock market is expected to rise. The USD/JPY may rise to 110.60 in the short term or challenge the 111.35 high in May. The rise in gold is further pressured. If the talks break down and market risk heats up, the dollar may fall against the yen, and gold may break the resistance.

In terms of European currency, yesterday's data in Italy and the United Kingdom in the Eurozone fell far below market expectations and fell from the previous month, with the Euro and British pound falling, respectively. If today's Eurozone economic prosperity index and UK employment data again disappoint the market, the market will expect the ECB to adjust its monetary policy on Thursday evening, and the euro and sterling may fall. Worthy of attention. In the end, today the US-DPRK meeting will end. If good news can be announced at the end, investment sentiment is heating up, the stock market can rise, safe-haven funds flow out of gold, and the yen brings down. Conversely, if the meeting does not result in a rise in risk, it will affect investment sentiment.

Today's proposal:

EURUSD
1.1795/1.1820 resistance
1.1740/1.1725 support
After the euro zone's German economic prosperity index in the afternoon, if the market is disappointed, the ECB will have difficulty adjusting its monetary policy on Thursday evening and the euro may fall. Current reference to the EUR/USD major support at 1.1725 and resistance at 1.1835.

GBPUSD
1.3385/1.3440 resistance
1.3340/1.3300 support
In the afternoon, the United Kingdom released employment data. The market valued this data. Please note the results and impact. Sterling short-term reference support at 1.3340 and resistance at 1.3440.

USD/CHF
0.9865/0.9885 resistance
0.9825/0.9800 support
The trend of the Swiss franc continues to follow the development of the euro. If the data in the euro zone is good in the afternoon, it will be Lidoruilang.

USD/JPY
109.65/109.85 resistance
109.25/109.00 Support
Global stock markets rose yesterday, Japan's Nikkei index rose, and the US dollar rebounded against the yen, breaking 110. If the U.S. and DPRK conference parties reach a consensus, the stock market is expected to rise. The U.S. dollar may rise to 110.60 against the yen in the short term or challenge the 111.35 high in May. Lido dollar is against the yen.

AUDUSD
0.7625/0.7645 resistance
0.7585/0.7565 Support
Australian real estate loan approvals improved this morning, but business confidence and sentiment fell. The former has a good development of monetary policy, and the latter is waiting for the outcome of the US-North Korea peace conference. Short-term concerns about US consumer price index performance tonight.

NZDUSD
0.7025/0.7040 resistance
0.6990/0.6970 support
The U.S. and DPRK leaders met and the two parties are moving toward peace and stability and establishing good relations. It is expected that the two sides will finally reach a consensus on peace, long-term political and economic development, and promote New Zealand's exports. The U.S. announced the consumer price index tonight and the New Zealand dollar has a chance to fall against the U.S. dollar. Tomorrow morning New Zealand announced the May Food Export Price Index and Australia announced the Consumer Confidence Index. If the results show a drop, it will not favor the New Zealand dollar. Short-term concern is the important resistance of 0.7055, and the important support is 0.6955.

USD/CAD
1.2955/1.2930 support
1.3025/1.3055 resistance
Earlier, the G7 summit ended earlier. President Trump of the United States stated that it will not sign a joint statement and criticize the Canadian Prime Minister. The Canadian dollar is under pressure. The failure to negotiate the North American trade agreement, crude oil demand may be under pressure, crude oil prices once rebounded and was weak, unfavorable to the Canadian dollar.

EUR/GBP
0.8820/0.8835 resistance
0.8785/0.8760 support
After the euro zone announced the German economic sentiment index in the afternoon, if the market is disappointed, the ECB’s monetary policy may be affected. In the afternoon, the United Kingdom announced important employment data. Therefore, it is necessary to pay attention to the performance of EURGBP at the time of publication.

EURCHF
1.1630/1.1645 resistance
1.1570/1.1550 support
In the afternoon, the Eurozone announced the German economic sentiment index, which this week focused on the European Central Bank’s monetary policy. If the euro performs better, EURCHF up.

XAUUSD
1301/1303 resistance
1294/1292 support
The U.S.-DPRK talks moved towards positive development. The stock market rose and gold prices fell slightly. If both parties can reach a consensus today, they can achieve peace and economic development. Gold has the opportunity to go down further. The current gold price resistance is located at $1303 and the support is at $1292. If the price of gold falls, there is a chance that the silver trend will follow. Silver price resistance, 17.05, below support 16.62 and 16.32.

US crude oil futures:
66.45/67.45 resistance
64.85/64.20 support
The OPEC oil group expressed its against to increasing output that supporting oil prices. Before the meeting of the oil group on June 22, the price still fluctuation. Midnight the EIA report, and tomorrow morning and evening report , that will show the demand and supply of the oil prices. The technical trend turned strong.

BTCUSD:
7000 / 7235 resistance ,
6690/ 6420 support.
The US investment investigator that news affect the bitcoin investment confidence. Seems the confidence back, the price break a short term resistance. If the price keeps 6690 or above and break 7000, the trend could go up.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals
such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading
Company and had partnership with a number of well-known international financial
corporations and institutions. Before he join ATFX, he was TeleTrade Greater
China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV
finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact: cs.gm@atfx.com or wechat: ATFX_China

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 224226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

Personal opinion today:

The Federal Reserve Board announced the monetary policy meeting in June this morning and the result has been set. After the interest rate, the Fed chairman said that the plan will gradually increase the pace of interest rate increase, but did not disclose the specific time. The time for the next Fed's meeting will be August 2. The market estimates that the interest rate increase will reach 60%. As always, all the data on the U.S. economy and job market during this period will be shown, and the chances of raising interest rates for the next time will be explored. Because of the central bank's decision-making, most of them observe the job market and inflation performance. Tonight, the United States announced important data such as the number of initial jobless claims, retail sales, and commercial inventory. Currently, the market expects that all U.S. data will increase from the previous month. If the data performance is better than market expectations, the U.S. dollar will have a chance to maintain its strength in the short term.

The Fed decision ended and the ECB will issue a monetary policy decision tonight. If the European Central Bank press conference at the press conference can disclose the situation regarding the delisting plan, it will result in fluctuations in the exchange rate of the euro.

Today's proposal:

EURUSD
1.1835/1.1860 resistance
1.1730/1.1715 support
The ECB will issue a monetary policy decision tonight and it is estimated that the market conditions will fluctuate. Concerned about the contents of the policy decision, the outlook for the euro changed, and the hawks tightened their monetary policy to benefit the euro. On the contrary, maintaining a loose monetary policy for doves has negatively affected the euro.

GBPUSD
1.3415/1.3435 resistance
1.3340/1.3320 support
Before the European Central Bank meeting, the United Kingdom will publish retail sales data in the afternoon. The market is expected to fall from the previous month and increase compared to last year, keeping an eye on the final announcement of data. In addition, the US data performance tonight impacted the pound.

USD/CHF
0.9885/0.9905 resistance
0.9835/0.9815 support
After the euro zone and UK data were announced in the afternoon, if the data is good and the euro will rise, the dollar will against the Swiss franc downward.

USD/JPY
110.15/109.85 support
110.55/110.75 resistance
When the Federal Reserve Board announced the rate hike, the dollar rose against the yen, but recovered soon. The reason is that the central bank will hold interest rates on the morning of tomorrow and the Governor of the Central Bank will speak in the afternoon. The market is flat and waiting for the direction of monetary policy.

AUDUSD
0.7585/0.7605 resistance
0.7535/0.7505 support
The performance of Australian employment data this morning was not as expected. Although the unemployment rate decreased, only the number of part-time workers increased while other figures fell. The United States announced various data tonight and the short-term Australian dollar was downward.

NZDUSD
0.7035/0.7055 resistance
0.6980/0.6965 support
The market expects the United States to announce various figures tonight that have risen from the previous month. If the data show better than market expectations, the New Zealand dollar may have a chance to fall. If the economic data of New Zealand does not have outstanding performance tomorrow, it will be difficult for the New Zealand dollar to rise.

USD/CAD
1.3020/1.3040 resistance
1.2950/1.2930 support
The Fed eased its downtrend after meeting interest rates. Coupled with the rise in oil prices, support for the Canadian dollar. It is worth noting the impact of the US data and oil prices on the Canadian dollar this evening.

EUR/GBP
0.8835/0.8850 resistance
0.8785/0.8770 support
After the UK data in the afternoon, the market focused on the ECB’s monetary policy decision. If the European Central Bank implements a delisting plan, the euro will be stronger and the euro may rise against the pound. On the contrary, it fell.

EURCHF
1.1635/1.1650 resistance
1.1590/1.1570 support
European Central Bank monetary policy announcement tonight, if the euro performs better, the euro may decline against the Swiss franc. The overall performance of the euro and the Swiss franc is stable, and it is expected that the euro will maintain its range against the Swiss franc.

XAUUSD
1301/1303 resistance
1294/1292 support
Short-term factors, the United States will publish jobless claim and retail sales data tonight, these data are expected to be good, gold prices have an opportunity to go down.

US crude oil futures:
66.85/67.05 resistance
65.95/65.70 support
Crude oil stocks fell and oil prices rebounded. As mentioned recently, before the OPEC meeting on June 22, it will more uncertain and make the price fluctuate. In short term tonight, during the ECB’s monetary policy resolution and press conference tonight and the release of US economic data, oil prices may fluctuate.

BTCUSD:
6420 / 6635 resistance ,
6170/ 6020 support.
Many issues affected crypto currencies. Such hacker attract block chain systems and stolen, which alerted security issue and concern. The confidence still not covered yet, the bitcoin keep fell slowly, other crypto currencies as follows.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals
such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading
Company and had partnership with a number of well-known international financial
corporations and institutions. Before he join ATFX, he was TeleTrade Greater
China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV
finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact: cs.gm@atfx.com or wechat: ATFX_China

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

Personal opinion today:

The Sino-U.S. trade relationship deteriorated. The Dow had fallen by more than 200 points and recovered in the late session. It eventually fell by 103 points. The investment sentiment was affected by the tightness of trade relations. Last night, Hang Seng Index fell in US market. Hong Kong stocks opened 310 points lower this morning, a drop of 1%, breaking the psychological barrier of 30000 points. China was directly affected by the trade war and the Shanghai Composite Index and Shenzhen Component Index fell. The trade war brought global stock markets down, gold and yen became safe-haven instruments, Asian markets began, risk aversion increased, and gold rose from low levels. Japan's Nikkei fell 0.1%, while the dollar fell 0.4% against the yen. Commodity currencies also fell, with Australian Dollars, New Zealand Dollars and Canadian Dollars, and Australian Dollars falling more than other commodity currencies. Under the deterioration of trade relations, short-term beneficiaries believe that it is the U.S. dollar and the European currency. Afterwards, it was exposed to the risk hedging effect of funds, and it gained upward on yen and gold.

The deterioration of trade relations has affected the tension and worries of the investment climate and has adversely affected the market. If both sides cannot improve the relationship, I believe that in the short term, the market will continue to be pessimistic and the current trends seen cannot be changed. Today at 16:00, the euro zone announced its current account, but it believes that there is no strong stimulus to the euro and expects the data to be stable, which will benefit the euro. At 20:30 in the evening, the United States announced the start of construction of new houses and construction permits. Then at 20:55, the United States announced commercial retail sales. Based on the above data, the market expects more than US dollars. A sharp increase in retail sales in the UK from last week may help the Bank of England interest rate expectations on Thursday to benefit for pound.

Today's proposal:

EURUSD
1.1610/1.1590 support
1.1655/1.1670 resistance
Sino-U.S. trade relations have deteriorated and there has been no impact on the euro zone in geographical trade. However, the United States has also raised tariffs on certain goods in Europe. At present, Europe still has expressed its anti-sanctions. It is believe there is downward on the euro. Technically, 1.1673 is an important resistance at present, and 1.1565 is an important support.

GBPUSD
1.335/1.3210 support
1.3295/1.3315 resistance
This week on Thursday, the Bank of England will announce monetary policy decision. The increase in consumer data in the United Kingdom last week is believed to improve investor confidence in GBP. Looking forward to rate hike expectations, pound upward.

USD/CHF
0.9955/0.9975 resistance
0.9905/0.9885 Support
The euro exchange rate rose in recent days, good for CHF, the US dollar against Swiss franc adjusted downward as expected. It is believed that the trend of the euro directly drives the trend of the Swiss franc.

USD/JPY
110.25/110.40 resistance
109.80/109.50 support
The deterioration of the trade between China and the United States affected the decline of Japan’s Nikkei index this morning, and the US dollar was following the Japanese yen. The short-term USD/JPY is expected to remain in synchrony.

AUDUSD
0.7425/0.7440 resistance
0.7385/0.7360 support
The performance of the Australian economic data this morning was slower than that of the previous month. The Australian dollar once fell below 0.74. In addition, the Australian economy and China’s economy are closely related, and China’s trade is affected. The Australian economy is also affected and the Australian dollar is negative.

NZDUSD
0.6950/0.6965 resistance
0.6915/0.6900 support
The dollar is strong and bears the New Zealand dollar. The Australian and Chinese economies also affect the New Zealand dollar, and the short-term Australian dollar trend may drive the New Zealand dollar.

USD/CAD
1.3170/1.3150 support
1.3230/1.3250 resistance
As the trade tariff arguments that heating up, there is a chance that oil prices will be downward. The Canadian dollar is still bearish. The market will wait for the 22nd meeting of the OPEC, oil group to determine the increase or decrease in crude oil production.

EUR/GBP
0.8705/0.8690 support
0.8755/0.8770 resistance
With the BOE, Bank of England interest rate approaching, the sterling pound has a chance to rise and the euro is expected to fall against the pound.

EURCHF
1.1585/1.1600 resistance
1.1530/1.1520 support
Technically, the euro fell against the Swiss franc. 1.1585 is an important short-term resistance.

XAUUSD :
1281/1278 support
1287/1290 resistance
As expected yesterday, the short-term trade tariff is heating up, and Gold has the opportunity to be supported. Keep watching the trade tariffs development.

US crude oil futures:
64.65/64.25 support
65.65/65.90 resistance
At the OPEC oil group meeting on June 22, the market expects to maintain a production cut agreement. However, the U.S. government formally announced that it would impose higher tariffs on many countries, which would have negatively affected oil prices. During the OPEC meeting, it was estimated that the price of oil was under downward. Then the meeting progressed to support the price of oil.

BTCUSD:
6720 / 6835 resistance ,
6400/ 6280 support.
US will not control the crypto currencies, they are allowed they trade as like a free market. But maybe the other countries still have different point of view or some countries still keep allow and some countries maybe follow. The bitcoin’s trend still seems uncertainty. In this period, suggests follow technical analysis trading while without any fundamental follow.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals
such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading
Company and had partnership with a number of well-known international financial
corporations and institutions. Before he join ATFX, he was TeleTrade Greater
China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV
finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact: cs.gm@atfx.com or wechat: ATFX_China

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 224226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

Personal opinion today:

The trade war between China and the United States escalated. The Dow once opened lower yesterday and fell more than 400 points from Monday's close, but it recovered from late gains and narrowed its decline. The fall in Japan’s Nikkei index led the dollar to fall against the yen, which was once 109.55 against the yen. Subsequently, the stock market regained some lost ground. The dollar rose against the yen and returned more than 110. Sino-U.S. trade tensions have affected China’s economic partners, and the Australian and New Zealand dollars have fallen. When the Australian dollar fell more than the New Zealand dollar, the New Zealand dollar held above the low of 0.6882 at the end of May. From June 22 to the weekend, the OPEC oil group meeting, the market is waiting for the influence and details of the proposed oil production increase of 30 to 600,000 barrels. In addition, the US API crude oil inventories have decreased, and the result has surpassed market expectations and the oil price has stabilized.

Sino-U.S. trade relations deteriorated, and the stock market fell, but did not stimulate the sharp rise in gold. Now it seems that the market is not afraid of the trade war between China and the United States. It is believed that the market will recovery the investment interest, and global stock markets are expected to rebound and correct the decline.

Today's proposal:

EURUSD
1.1570/1.1555 support
1.1615/1.1630 resistance
The deterioration of Sino-US trade relations has not affected the euro area geographically. However, the United States also threatens Europe with regard to EU trade tariffs, and believes that it will also affect the euro. Therefore, it is assumed that the 10-day and 20-day moving averages are important resistance at 1.1675.

GBPUSD
1.3150/1.3110 support
1.3195/1.3215 resistance
This Thursday, the BOE interest rates decision. The increase in consumer data in the United Kingdom last week is believed to help improve investor confidence. The market believes that the central bank will keep interest rates unchanged, but expects interest rate hikes to be bullish for next meeting.

USD/CHF
0.9965/0.9985 resistance
0.9930/0.9915 support
If the euro can adjust to rebound, It believe that the US dollar against the Swiss franc will adjust the decline. At present, there is no reference to the Swiss data. The trend of the euro will directly drive the trend of the Swiss franc.

USD/JPY
110.25/110.40 resistance
109.80/109.60 support
The deterioration of the trade between China and the United States affected the decline of Japan’s Nikkei index yesterday, and the USDJPY trend following. The current market sentiment has gradually stabilized and the short-term USD/JPY is expected to have a chance to rise. 110.25 and 110.40 A’s important resistance.

AUDUSD
0.7375/0.7355 Support
0.7415/0.7435 resistance
China's trade is affected by U.S. tariffs, which is also unfavorable to the Australian economy and negatively affecting the Australian dollar. However, if China and the United States release their friendship and solve the problem before applying the tariff in early July, this may be beneficial to the Australian dollar. Today, we can also observe the market conditions. If we see stability, we may see the Australian dollar rebound.

NZDUSD
0.6895/0.6885 support
0.6930/0.6950 resistance
This morning New Zealand announced that its current account results have risen, positive for New Zealand dollar. Estimates are positive for New Zealand's GDP forecast tomorrow morning, seems positive New Zealand dollar.

USD/CAD
1.3315/1.3335 resistance
1.3250/1.3230 support
The North American trade agreement strikes against Canadian exports and bears the Canadian dollar. But in the next two days, Canada will release important data and have the opportunity to increase the Canadian dollar. In addition, the market is waiting for the upcoming OPEC oil group meeting to determine the crude oil production resolution. The rise in oil prices may prevent the Canadian dollar from falling.

EUR/GBP
0.8785/0.8775 support
0.8805/0.8820 resistance
With the BOE interest rate decision approaching, there is a chance for the pound to rise. It is only that the market waits for the outcome of the negotiations between Britain and the European Union. The pound is downward and the euro is rising against the pound. If the incident is clear, the pound will rebound and the euro may fall against the pound.

EURCHF
1.1550/1.1565 resistance
1.1515/1.1505 support
Technically, the euro strengthened, the euro rose against the Swiss franc. In short-term EUR/CHF breaks through 1.1525 and has the opportunity to explore resistance at 1.1565 or above.

XAUUSD
1273/1271 support
1277/1280 resistance
The trade war has warmed up and gold has been supported. Just behind the market, it still believe that the US economic outlook is promising and that the tightening of interest rate policies has made the US dollar strong, suppressing gold. However, the trade war will affect the global economy, and the United States stands alone. Finally, the weak economic data may cause the dollar to fall, support gold. The short-term gold 1271/1270 may have bottomed out and have the opportunity to adjust the rise.

US crude oil futures:
64.65/64.25 support
65.65/65.90 resistance
At the OPEC oil group meeting on June 22, the market expects to maintain the proportion of production cuts. However, the U.S. government formally announced that it would impose higher tariffs on many countries, which would have negatively affected oil prices. During the OPEC meeting, it was estimated that the price of oil remained downward.

BTCUSD:
6720 / 6835 resistance ,
6400/ 6280 support.
Investors confidence recovered, the crypto currencies, rebound. But the confidence seems not fully come back, the bitcoin’s still uncertainty. In this period, suggests follow technical analysis trading while without any fundamental follow.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals
such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading
Company and had partnership with a number of well-known international financial
corporations and institutions. Before he join ATFX, he was TeleTrade Greater
China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV
finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Wechat: ATFX_China


Legal: AT Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. FCA registration number (760555). Registered Office: 1st Floor, 32 Cornhill, London EC3V 3SG, United Kingdom. Company No. 09827091

 

[Kelly Yeung]

ATFX launched an incentive promotion for a USD100 Welcome Credit and USD2500 Cash Rebate promotion in March, and following what has been an overwhelming positive response, the financial brokerage is launching its 2nd round of promotions in June again to address its customers’ needs.


ATFX announced these two limited period offers, which will start on June 14th for new clients opening a live account on the ATFX platform. These will offer new clients a welcome credit of US$100 to ease the process of entering the financial markets. Furthermore, the minimum entry lots have been changed from 15 lots in March to just 3 lots this time around, because ATFX realizes that clients not only want a financial company that complies to the highest stands of service and transparency but can also offer more benefits to its clients.Further details regarding the offer are available on the promotion page.


In the meanwhile, the promotion won’t be just beneficial to the new clients, as ATFX also launched the promotion for its existing clients with a cashback of up to US$2,500 for all its clients, based on completed trading lots. The incentive promotion is a limited time offer. Further details of this cashback offer are available on the promotion page.


ATFX explained that the Welcome Credit and Cash Back offer was tailored to its retail clients’ trading habits, helping them save on each trade executed through their ATFX live account. This offer gives cashback not in terms of reward points or virtual currency, but in actual cash that clients can withdraw from their account. ATFX has created a niche for itself due to its easy-to-use online trading platform – MetaTrader 4 – as well as its client-focused support, which offers 24/5 localised help across multiple languages, so that clients can access support in the language they are most comfortable in. The ATFX platform allows trading across a variety of instruments, including forex, gold, oil, indices and CFDs.


The company also takes pride in offering low spreads and leverage of up to 400:1. Being a global platform, anyone wanting to participate in the financial markets can create a live account at any time and from anywhere. And with live support available across different time zones and languages, the company’s aim is to simplify the process of online trading for clients across all levels of experience.


Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 224226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is: The Financial Services Centre, Stoney Ground, Kingstown, St. Vincent & the Grenadines.


All trading involves risk, losses can exceed your deposits.

*T&Cs apply.

 

[Kelly Yeung]

Concern over escalating tensions between the United States and China is on the verge of reaching a stage of commercial war after the White House threatened Beijing yesterday that the US president is ready to impose new tariffs on Chinese goods worth $200 billion.

This was a response from the White House following news that China would impose new tariffs of 25% on US goods worth $50 billion, done in reciprocity if the US president implements his decision to impose the first tranche of tariffs on Chinese goods worth $50 billion.

The White House trade adviser said on Tuesday the 19th of June 2018 that China has underestimated U.S. President Donald Trump's resolve to impose more tariffs unless it changes its "predatory" trade practices.

It is clear that the campaign leader from the US administration is White House trade adviser Peter Navarro, who is well listened to by the US president.

The list of US goods that may be hit with Chinese tariffs of 25% starting from the 6th of July was announced by government sources in China and will include agricultural products targeting US farmers in the US, likely due to their support of the US president in the 2016 presidential elections. But the list may also include Chinese imports of US shale oil, which in one way or another will affect US oil producers, especially given that China is the largest customer for US crude, importing about 363,000 barrels per day in the last six months ending in March. Thomson Reuters shipping data shows those exports have increased since, rising to an expected 450,000 bpd in July.

And on the other side, in an official statement from the Chinese government which directly accused the United States of "extreme pressure and blackmailing" and vowing to retaliate, China's Commerce Ministry said Beijing will fight back with "qualitative" and "quantitative" measures if the United States publishes an additional list of tariffs on Chinese goods.

The impact of all these developments on the financial markets was clear as Shanghai stocks plunged to two-year lows. The Dow Jones Industrial Average was down by 1.15% and gave up all its 2018 gains, while the S&P 500 dropped 0.4% by Tuesday’s close.

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.

 

[Kelly Yeung]

Personal opinion today:

The Bank of England held interest rates last night, the BOE kept interest rates unchanged, and the quantitative easing scale remained unchanged, but the number of members supporting the interest rate increase one more, as expected, positive the pound. Last night, the United States announced jobless claims decreased, but other economic data weakened the US dollar. Non-US currencies and gold rebounded. It is expected that the relevant data will be released by the United States tonight, and last night’s relevant data from the United States estimate that the US dollar will be negative. The major currencies against the US dollar and gold have the opportunity to rise. In addition, the OPEC meeting this afternoon and a press conference was held at 19:00 pm. The expected result and policy direction will affect the fluctuation of oil prices. In addition, Canada will release important economic data tonight. If the data is better than expected and last month, it will increase the Canadian dollar. But note that oil prices are often closely linked to the Canadian dollar. If the oil price rebounds already, the Canadian dollar has followed the rise. The results of Canadian data this evening will reduce the Canadian dollar's volatility.

Today's proposal:

EURUSD
1.1625/1.1660 resistance
1.1575/1.1555 support
The interest rate statement of the Bank of England last night and the weak economic data of the United States made the euro more attractive. The U.S. economic data will have an opportunity to affect the U.S. dollar tonight and pay attention to the impact of the data performance on the euro.

GBPUSD
1.3280/1.3300 resistance
1.3205/1.3195 support
Bank of England monetary policy decision as expected yesterday, the central bank’s remarks and the proportion of voting members voted to stimulate the pound to rebound. However, attention is still paid to the issue of Brexit in the United Kingdom, hindering gains.

USD/CHF
0.9895/0.9880 support
0.9935/0.9955 resistance
Yesterday, the SNB’s interest rates and the Bank of England’s interest rates were met, Lido Ruilang. But after the good news, there is a chance to adjust.

USD/JPY
110.30/110.50 resistance
109.80/109.55 Support
The atmosphere in the stock market is good, and the dollar has the opportunity to challenge the above resistance against the yen. On the contrary, it may fall. Concerned about the stock market sentiment, there is an opportunity to support the rise of the dollar against the yen.

AUDUSD
0.7400/07425 resistance
0.7355/0.7335 support
The decline in the price of copper has affected the downward trend of the Australian dollar. The trade negotiations have not been fruitful, and mineral prices have had a chance to continue falling, which has negatively impacted the Australian dollar. Short-term attention to the performance of the US economic data.

NZDUSD
0.6882/0.6920 resistance
0.6815/0.6795 support
After the New Zealand dollar fell below 0.6882, it is estimated that it will test the low 0.6815. If the economic data of the United States is not good, the New Zealand dollar may first explore resistance.

USD/CAD
1.3325/1.3345 resistance
1.3270/1.3250 support
The OPEC meeting was held in the afternoon and it affected the price of oil. The announcement of two important economic data in Canada at night may make the Canadian dollar more volatile today.

EUR/GBP
0.8765/0.8785 resistance
0.8725/0.8705 support
The result of the Bank of England’s interest rate negotiations tended to be hawkish, which turned the euro against the pound. In the short term, if the pound is strong, the euro will tend to fall against the pound.

EURCHF
1.1520/1.1535 resistance
1.1500/1.1485 support
The SNB policy remains unchanged, but its content tends to make the euro negative. The EUR/CHF trend is trending downwards.

XAUUSD :
1264/1262 support
1270/1272 resistance
The weak US economic data, the dollar fell, and gold rose. Short-term economic risks continue to support gold. If the U.S. economic data is equally subdued tonight, gold will have the opportunity to test resistance.

US crude oil futures:
64.65/64.25 support
67.35/67.65 resistance
The OPEC meeting was held today afternoon and the market expects to maintain the production cuts agreement. However, whether the results were not meet expectations will affect oil price fluctuations.

BTCUSD:
6782 / 6857 resistance ,
6432/ 6320 support.
By technical analysis show the bitcoin still at the upward, but now limited at ranging level. If positive news support, it could be rebound sharply. On the contrary, it may fall.

The above is for reference only; the market is risky and investment needs to be cautious. Trading must included risk management! Wish Happy trading!

Information provided by ATFX, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial
Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals
such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading
Company and had partnership with a number of well-known international financial
corporations and institutions. Before he join ATFX, he was TeleTrade Greater
China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV
finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices.
Contact: cs.gm@atfx.com or wechat: ATFX_China

Legal: ATFX is a trading name of AT Global Markets Limited (ATGM, registration number 24226 IBC 2017). ATGM is an International Business Company in Saint Vincent and the Grenadines. Registered address is : the Financial Services Centre, Stoney Ground, Kingstown, St.Vincent & the Grenadines.