ATFX Market Updates 2019

[Kelly Yeung]

For more analysis check out, please click the below link:


Market Analysis by ATFX Global Chief Market Strategist - Alejandro Zambrano

ATFX is a co-brand shared by a number of different entities globally including:

• AT Global Markets (UK) Limited in the United Kingdom regulated by FCA;
• ATFX Global Markets (CY) Limited in Cyprus regulated by CySEC;
• AT Global Markets Limited registered in the Financial Services Authority (FSA) in Saint Vincent and the Grenadines;
• AT Global Markets Intl Ltd in Mauritus is licensed by the Financial Services Commission (FSC) and;
• AT Capital Markets Limited is a rep office of ATFX Global Markets (CY) Limited regulated by Financial Services Regulatory Authority (FSRA) and CySEC. AT Capital Markets Limited deals with Professional clients only.

 

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Aug 16

Personal opinions today:

Eurozone economic growth is weak, and the European central bank said it would announce increasing the monetary stimulus measures at its September meeting, including interest rate cuts and issues bond purchases again, to raise capital flows in the market, which will be bearish for the Euro. On the other side of the dollar, the yield on the 10-year Treasury bond, which reflects long-term U.S. funding and inflation expectations, fell, although Treasury yields improved upside down. The spread between 2-year and 10-year Treasury yields is closer less than 10 basis points, and interest rate futures are pricing in a 77% chance of a 25 basis point cut in the Fed meeting in September. It believed that the US-China trade talks in September could serve as a rationale for whether the global central banks will cut interest rates.

Market expectations of a drop in the Eurozone trade account in June which have become an excuse for the Euro to fall, with the euro expected to rise if the actual result is in line or better than expected. Add in the total number of U.S. building permits, new home starts, and the Michigan consumer confidence index for August, and the dollar is expected to fall ahead of the U.S. data. The dollar fell on estimates of weakness in the US economy, which could boost the price of gold and the yen. Oil prices are likely to fall as OPEC releases its monthly market report during trading hours between Europe and the US. Statements reflect supply and output, which can affect prices. The dollar is now expected to fall against major currencies, while European currencies are expected to rise.

[Important financial data and events]

17:00 Eurozone trade accounts for June
20:30 U.S. building permits for July
20:30 U.S. new housing starts in July
22:00 U.S. Michigan consumer confidence index for August
Pending OPEC monthly oil market report

Today suggestion:

EURUSD
1.1135/1.1150 resistance
1.1075/1.1060 support
The European central bank is considering to cut interest rates and issues quantitative easing monetary policy, which is bearish for the euro but good for the economy. European market focus is on expectations of weak U.S. economic data that could be bullish the Euro. It is worth noting the performance of the U.S. data. Estimates in anticipation of weak U.S. economic data, at least stability in the Euro.

GBPUSD
1.2125/1.2140 resistance
1.2035/1.2015 support
U.S. economic data was expected to be weak, with the dollar falling and pound decline steady. Technically, the Brexit issue limited the rise of the pound, with 1.2140 as one of the critical resistance levels. If the pound breaks through 1.2015 support, it may go down to 1.1970, or it may go down to adjust the wave 150%, 1.1945 support. In the short term, market doubts about the U.S. recession, the federal reserve cut interest rates in September, offset the negative news of Brexit, the expected decline. The current technical support level can refer to as the resistance between 1.2035 and 1.2015. Watch the U.S. economic data today.

AUDUSD
0.6795/0.6815 resistance
0.6755/0.6735 support
US-China trade friction, the failure to improve overall, the Chinese and US economies, and the prospect of global economic growth and recession, have caused us Treasury yields to flip. The dollar falls on weak U.S. data today. Or industrial metals prices rebound, the Australian dollar is expected to rise. In the short term, expectations are that weak U.S. data could boost the Australian and New Zealand dollars. Technically, the Australian dollar maintains a resistance of 0.6795 against the U.S. dollar, which could test the 0.6815 resistance range. Investors in the New Zealand dollar can look to the Australian dollar trends.

USDJPY
106.25/106.65 resistance
105.85/105.45 support
Global economic growth failed to improve, and the Dow bounced back. Just as the USDJPY followed the Dow and Nikkei, the dollar/yen traded back and forth between 105 and 106 levels. It's worth noting that there are three US dominant data performances today. Among them, the Michigan consumer confidence index in August is more critical. The performance of the Dow and Nikkei will drag the USDJPY. If US economic data is flat or positive today, the stock market expected to rebound, while the USDJPY rise.

USDCAD
1.3335/1.3350 resistance
1.3265/1.3215 support
Crude oil futures prices have fallen since last week's drawdown in U.S. crude oil inventories, which has weighed against the Canadian dollar. Besides, speculation of a recession in the United States and around the world increased the risk of a fall in the price of crude oil and the Canadian dollar fell. Between Europe and US trading hours, watch OPEC monthly oil market report. The report reflects supply and output, which can affect the price of crude oil. Besides, the US dollar is now expected to fall; the Canadian dollar may rise. Technically, pay attention to the resistance of 1.3335 and 1.3350, and look down at the support of 1.3265 and 1.3215.

US crude oil futures
55.65/56.55 resistance
54.10/53.65 support
The US government has delayed implementing the extra tariffs for some Chinese imports, and China and the US have agreed to hold the talks in September, hoping to receive bullish oil price news. Between Europe and US trading hours, watch OPEC monthly market report. The report reflects supply and output, which can affect the price of crude oil. It's worth watching U.S. economic data. If the data is weak, the federal reserve's signal that it will consider a rate cut next month could drive bullish oil prices.

XAUUSD
1527/1529 resistance
1513/1510 support
Expected weak US data, US Treasury yields could be upside down again. If the stock market falls, there is another excuse to push up the price of gold. U.S. economic data and U.S. interest rate futures are also noteworthy when referring to gold prices. , it is recommended to apply to the Dow's performance. If the dow rises, it could hurt gold prices. If today's U.S. economic data is flat, improving U.S. Treasury yields upside down, the Dow rebounding, gold prices may be adjusted, or even below $1,500. On the contrary, 1529 and 1534 dollar resistance.

U.S. Dow Jones industrial average futures US30
25855/26060 resistance
25395/25140 support
Weak data in the US and a slower outlook for global growth. Treasury yields could be upside down again, with the Dow falling early last night. Looking ahead to U.S. data, the Dow is trading in a narrow range amid expectations of weakness and a possible federal reserve rate cut next month. If the likelihood of a U.S. recession increases, a potential presidential speech to improve relations with China could lift the Dow. Technically, the Dow broke through 25860 support, down to adjust wave, 25395 again. Hopefully, Dow could get a rebound today if U.S. economic data isn't as weak as market expectations, U.S. - China relations do well, or the federal reserve considers interest rate cuts.

BTCUSD:
10650 / 10900 resistance
10050 / 9850 support
As the trade war between China and the US cool down. Decreasing the cryptocurrencies demands. However, markets are expecting weak U.S. economic data and a slower outlook for global growth today. US treasury yields probably upside down again, Fed may cut interest rates. It perhaps an excuse to purchase cryptocurrencies for against any risks. Recently here we mentioned, the sentiment may be changes, bearish bitcoin and other cryptocurrencies. Also, here recommend check out the trends of gold price and the bitcoin price in the same direction.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

SAVE THE DATE NOW! If you are interested in participating our Seminar/ workshop (JB), Let's click the below link: https://www.facebook.com/pg/ATFXMalaysiaCN/events/

Information provided by AT Global Market, 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.

Legal: 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]

For more analysis check out, please click the below link:


Market Analysis by ATFX Global Chief Market Strategist - Alejandro Zambrano

ATFX is a co-brand shared by a number of different entities globally including:

• AT Global Markets (UK) Limited in the United Kingdom regulated by FCA;
• ATFX Global Markets (CY) Limited in Cyprus regulated by CySEC;
• AT Global Markets Limited registered in the Financial Services Authority (FSA) in Saint Vincent and the Grenadines;
• AT Global Markets Intl Ltd in Mauritus is licensed by the Financial Services Commission (FSC) and;
• AT Capital Markets Limited is a rep office of ATFX Global Markets (CY) Limited regulated by Financial Services Regulatory Authority (FSRA) and CySEC. AT Capital Markets Limited deals with Professional clients only.

 

[Kelly Yeung]

ATFX Market Outlook, 2019 Aug 19

Personal opinions today:

European central bank officials said promoting the economic recovery, intends to restart its 50 billion Euro easing monetary fund and consider cutting interest rates when the ECB meets in September. The Euro fell as the monetary easing measures. Today, the market focus on the eurozone July CPI figures, it could influence the European central bank's monetary policy on September 12. The risk of a hard Brexit continues at the end of October, but the UK parliament is about to reopen, and steady consumer data last week bullish the pound. But it seems last longer.

With no significant U.S. data due early in the week, the market is watching the FOMC minutes, limit the dollar's short-term gains, with the dollar index of 98.3 a key resistance in technical analysis. If the dollar index breaks through this resistance, the dollar continues to strengthen, European currencies and other currencies against the dollar will generally fall, gold prices may break through the $1500 support. Crude oil prices are expected to break through the resistance of 55.65.

[Important financial data and events]

16:00 Eurozone current account for June
17:00 Eurozone CPI monthly and annual rate for July
22:00 Canada national economic confidence index

Today suggestion:

EURUSD
1.1135/1.1150 resistance
1.1075/1.1060 support
The final monthly and annual figures for June's current account and July's CPI are worth watching today. The euro zone's final monthly and annual consumer prices are widely expected to have fallen in July. But before the data release, the euro broke through 1.1105 after the European central bank said it planned to start a policy easing in September. It is interesting to see if the euro can rebound above 1.1105 after euro zone data. The federal reserve is also expected to consider a rate cut in September, offsetting the ECB's negative impact on the euro, which could stabilise the Euro. Euro/dollar support levels reference 1.1075 and 1.1060.

GBPUSD
1.2155/1.2175 resistance
1.2115/1.2095 support
With markets pricing in a U.S. recession and the federal reserve could cut interest rates, the dollar's gains have been mute against the pound. Technically, the Brexit issue has limited the rise of the pound. Although pound broke through the critical resistance level of 1.2140 last week, the expectation of the risk of a hard Brexit increase, and the pound has the opportunity to test the low. We suggest the critical resistance of 1.2200 and the low of 1.2050.

AUDUSD
0.6795/0.6815 resistance
0.6755/0.6735 support
The Reserve Bank of Australia (RBA) will report early tomorrow morning, with no interest rate cut expected, bullish the Australian dollar. In the short term, markets hope weak U.S. data and US-China trade relations keeping well, bullish the Australian and New Zealand dollars. Technically, the AUDUSD must focus on the 0.6795 and 0.6815 resistance ranges. Investors in the New Zealand dollar can look to the Australian dollar.

USDJPY
106.45/106.65 resistance
105.65/105.45 support
Global economic growth failed to improve, and the Dow bounced back. Improving relations between China and the United States boosted the investment climate, just as the dollar rose against the yen, following the lead of the Dow and the Nikkei. Technically, if there is no further progress ahead of the US and China trade talks, pushing up the Dow and Nikkei, the dollar is expected to trade between 105 and 106 yen. It is recommended to observe the performance of the Dow and Nikkei and explore the dollar-yen trend and volatility.

USDCAD
1.3335/1.3350 resistance
1.3265/1.3215 support
The Canadian dollar fell last week amid speculation of a recession in the United States and around the world. OPEC released its monthly oil market report, which showed it supports reasonable production controls and controlled supply to bullish oil prices. The Canadian dollar benefited, while the U.S. dollar fell against the Canadian dollar. Technically, keep the wait and see a resistance of 1.3335 and 1.3350, look down at 1.3265 or 1.3215 support. Keep an eye on oil prices.

US crude oil futures
55.65/56.55 resistance
54.50/53.85 support
The US government has delayed implementing the extra tariffs for some Chinese imports, and China and the US have agreed to hold talks as usual in September, benefiting the crude oil price. OPEC releases its monthly oil market report. The report showed production need to control supply and properly, bullish crude oil prices. No significant U.S. economic data out early in the week, markets watched the FOMC minutes on Thursday. Market expectations that the Fed is considering a rate cut will help stabilise and bullish crude oil prices. Current technical resistance, $55.65 and $56.55.

XAUUSD
1519/1521 resistance
1505/1502 support
After the U.S. economic data, the market expected the federal reserve to cut interest rates. Besides, the US eased additional tariffs on some Chinese consumer goods imports, improve the investment sentiment. US treasury yields maintain reasonable level, the Dow rebounded last week and gold prices adjusted. But another way to look at it, the Fed could cut interest rates, bullish gold prices. Technically, refer to 1502 support and 1521 resistance.

U.S. Dow Jones industrial average futures US30
26060/26250 resistance
25860/25705 support
Weak US data and global growth downward. US treasury yields could be upside down again. Now watching the federal reserve may cut interest rates next month, it could be bullish the Dow. A further improvement in US-China relations, if the US President's comments, could boost the economy and optimistic the Dow probably. Technically, the Dow is expected to test 26250 resistance. The lower support is 25860 and 25705, respectively.

BTCUSD:
10650 / 10900 resistance
10050 / 9850 support
As the trade war between China and the US cool down. Decreasing the cryptocurrencies demands. However, markets are expecting weak U.S. economic data and global growth downtrend. US treasury yields probably upside down again, Fed may cut interest rates in September. It perhaps an excuse to purchase cryptocurrencies for against any risks and reduce the interest rate. If the sentiment changes, it could be bearish bitcoin and other cryptocurrencies. Also, here recommend check out the trends of gold price and the bitcoin price in the same direction.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

Information provided by AT Global Market, 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.

Legal: 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]

ATFX Market Outlook, 2019 Aug 20

Personal opinions today:

The US trade department officials extended a ban on imports of telecoms equipment maker Huawei, large US companies reported reliable quarterly results and the US President called on the federal reserve to cut interest rates by 100 basis points. The above positive investment climate information, Dow closed more than 200 points higher than the previous day. The stock market sentiment is excellent; the hedge fund returns to the risk markets, the stock market rose, the debt interest rate falls. Gold and the yen fell. Crude oil prices rose as high as $56 yesterday as the US President called for the federal reserve to cut interest rates to boost demand for crude oil and OPEC called for production control. The market is waiting to see how much U.S. API crude oil stocks change, limiting the oil price rise.

This morning, the RBA released the August monetary policy meeting. European markets, Germany July PPI monthly rate and Switzerland July trade account. The UK CBI industrial order in August had a relatively low impact, mainly focusing on Brexit and UK political news and events. U.S. markets focused on new manufacturing orders and inventories in Canada and U.S. retail sales in June, but the data were less critical. The main focus is the performance of the Dow and the remarks of the US President.

[Important financial data and events]

09:30 RBA minutes for August monetary policy meeting
14:00 German PPI and Swiss trade account for July
18:00 UK CBI industrial order for August
20:30 Canada Manufacturing new orders and inventories in June
20:55 U.S. Retail Sales
Next day at 04:30 US API crude oil stocks change
Next day at 04:30 Fed Daley speaks

Today suggestion:

EURUSD
1.1105/1.1120 resistance
1.1075/1.1060 support
The Eurozone's June current account and July CPI both fell at monthly and annualised rates yesterday, increasing the chances that European central bank officials have said they plan to start easing policy in September. The Euro failed 1.1105 support after the Eurozone data released. Fortunately, the Fed may cut interest rates, offset by the ECB interest rate cut. The Euro is expected to remain stable in the short term, with support at reference 1.1075 and 1.1060 and resistance at mention 1.1105 and 1.1120.

GBPUSD
1.2155/1.2170 resistance
1.2095/1.2070 support
With expectations of a U.S. recession and the possibility of an 89 % interest rate cut by the federal reserve in September, the dollar's gains were capped against the pound. But the issue of Brexit limited the rise of the pound. With the risks of a hard Brexit expected to increase and economic and political uncertainty, there is an opportunity for the pound to dip lower, suggesting a significant resistance of 1.2200 and a low of 1.2050. Short-term resistance of 1.2155 and 1.2170 is substantial. If GBPUSD breaks the resistance, it can focus on the critical resistance of 1.2200.

AUDUSD
0.6775/0.6785 resistance
0.6755/0.6745 support
The RBA said it had no urgent to cut interest rates after setting a record for the start of the month, bullish the Australian dollar. Australian dollar rebound from 0.6755. Besides, the Australian and New Zealand dollars are expected to get a boost from the federal reserve's interest rate cut and the easing of trade relations between China and the United States. Technically, the Australian dollar is focused on the resistance of 0.6775 and 0.6785. If 0.6785 breaks through, it is expected to explore the critical resistance of 0.6815. Investors in the New Zealand dollar can look to the Australian dollar trend and follow.

USDJPY
106.65/106.80 resistance
106.25/106.10 support
By several positive global economic confidence news, the Dow rebounded to close. Earlier improvement in relations between China and the United States has lifted the investment mood, with the dollar rising against the yen in line with the Dow and Nikkei. It needs a more significant reason to boost the stock market, the dollar against the yen to rise. Otherwise, the dollar could fall, and the dollar could follow suit against the yen as the Fed considers rate cuts. Technically, it is estimated that USDJPY continues to trade between 105 and 106, and whether 106.65 and 106.80 resistance is still a critical point. It is recommended to observe the performance of the Dow and Nikkei and explore the dollar-yen trend and volatility.

USDCAD
1.3335/1.3350 resistance
1.3265/1.3245 support
Canada national economic confidence index has been declining continuously since mid-to-late July. Although the price of crude oil rose yesterday, it was affected by the decline of Canada national economic confidence index, which increased the risk of Canada economy and weakened the Canadian dollar. At present, it is recommended to keep waiting for the resistance of 1.3335 and 1.3350, while looking down for support of 1.3265. Please pay attention to the crude oil price, the US President and the federal reserve official speech, USD index and the crude oil price trend, how affected the Canadian dollar indirectly.

US crude oil futures
56.55/57.40 resistance
54.50/53.85 support
The US trade department is delaying the implementation of extra tariffs for some Chinese imports, and extend on Chinese telecommunications companies limitations. The federal reserve may cut interest rates. Watching U.S. API stocks tomorrow and FOMC minutes on Thursday, the market expects crude oil prices to be limited. Also, an increase in interest rate cuts by Fed officials could raise bullish oil prices. First target resistance could $56.55.

XAUUSD
1509/1512 resistance
1494/1492 support
The prospect of a recession in the United States has led markets to expect the federal reserve to cut interest rates in September. Stock market volatility, which indirectly affects gold demand and prices, is more interesting to watch ahead of Thursday's FOMC minutes. Yesterday, the US trade department officials extended a ban on Chinese telecommunications companies after eased additional tariffs on some Chinese imports. US treasury yields back to normal, the Dow rose, and gold prices fell. Without further positive news that pushes Dow up today, which could affect bullish gold prices. Technically, $1, 492 and $1, 485 are significant support bits, respectively.

U.S. Dow Jones industrial average futures US30
26250/26420 resistance
25860/25705 support
Yesterday, the US trade department officials extended a ban on Chinese telecommunications companies after eased additional tariffs on some Chinese imports. U.S. Treasury yields back to normal as the Dow rose. Looking at the FOMC minutes, which cited the possibility of the Fed cutting interest rates next month, could bullish to the Dow, but a correction could come first. Any wrong messages from the US President, it could damage relations with China could move the Dow downward. Technically, the Dow is expected to test 26250 resistance. The lower support bits are 25860 and 25705, respectively.

BTCUSD:
10900 /11230 resistance
10550 / 10250 support
As the trade war between China and the US cool down. Decreasing the cryptocurrencies demands. However, markets are expecting weak U.S. economic data and global growth downtrend. US treasury yields probably upside down again, Fed may cut interest rates in September. It perhaps an excuse to purchase cryptocurrencies for against any risks and interest rate losses. If the sentiment changes, it could be bearish bitcoin and other cryptocurrencies.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

Information provided by AT Global Market, 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.

Legal: 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]

For more analysis check out, please click the below link:


Market Analysis by ATFX Global Chief Market Strategist - Alejandro Zambrano

ATFX is a co-brand shared by a number of different entities globally including:

• AT Global Markets (UK) Limited in the United Kingdom regulated by FCA;
• ATFX Global Markets (CY) Limited in Cyprus regulated by CySEC;
• AT Global Markets Limited registered in the Financial Services Authority (FSA) in Saint Vincent and the Grenadines;
• AT Global Markets Intl Ltd in Mauritus is licensed by the Financial Services Commission (FSC) and;
• AT Capital Markets Limited is a rep office of ATFX Global Markets (CY) Limited regulated by Financial Services Regulatory Authority (FSRA) and CySEC. AT Capital Markets Limited deals with Professional clients only.

 

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Aug 21

Personal opinions today:

US President Donald Trump has publicly said he is not ready to make any deal in trade talks with China, putting political pressure on China as well. The market feels uncertainty about next month trade talks. Also, the performance of large U.S. companies in general, the market lack of confidence in the outlook, the Dow closed lower than the previous day, down over 170 points. Last night, US President Trump again criticised the federal reserve's interest rate policy. He said the U.S. economy is doing well, but called on the federal reserve to cut interest rates by 1% to match U.S. growth. Anyway
, Dow fell, and gold and crude oil prices rebounded from low levels. Gold prices returned $1,500, and U.S. API crude oil inventories were lower than last week, also supporting oil prices.

July CPI and core CPI in Canada and July total existing-home sales in the United States are the market's focus today. But the market most focus on FOMC minutes. Tomorrow will also be the European central bank minutes and the Jackson hole central bank meeting. The FOMC minutes expected to move first against gold and the dollar and second against the Dow. In response to the Fed's interest rate cut in July, the minutes will show the Fed policy and the outlook for future monetary policy. A dovish or hawkish stance has important implications ahead of next month's Fed rate meeting. Among them the most significant influence, believe is affected the gold and Dow.

[Important financial data and events]

16:30 U.K. Public sector borrowing in July
20:30 Canada CPI and core CPI in July
22:00 U.S. Existing homes sales in July
22:30 U.S. EIA crude oil stocks
The next day, at 02:00 FOMC minutes

Today suggestion:

EURUSD
1.1105/1.1120 resistance
1.1075/1.1060 support
Earlier, European central bank officials said they planned to start a policy easing opportunity in September. ECB minutes should provide some insight into next month's interest rate outlook. Currently, the Euro is limited to the resistance of 1.1105. The ECB minutes followed the release of the minutes from the federal reserve's July monetary policy meeting. The dollar index could fall if a majority of fed officials express support for a significant rate cut. Expect that to stabilise the euro or even rally. Technically, EURUSD recommended support at 1.1075 and 1.1060 and resistance at 1.1105 and 1.1120. However, it must be noted that the release of the FOMC minutes, the European central bank minutes and the annual meetings of G7, it is recommended to pay attention to the volatility of the euro, which is more likely to break through the support and resistance levels and strictly control risks.

GBPUSD
1.2175/1.2200 resistance
1.2095/1.2070 support
U.S. President Donald Trump's call for the federal reserve to cut interest rates, pound as the dollar's gains slowed. But it must be remembered that there is uncertainty about Brexit and that the pound is more likely to fall than rising. Significant resistance is expected to be 1.2200, with a low of 1.20. However, it must be noted that during the release of the FOMC minutes, the European central bank minutes and the annual meeting of global central banks, it is recommended to pay attention to the volatility of the pound, which is more likely to break through the support and resistance levels and strictly control risks.

AUDUSD
0.6785/0.6815 resistance
0.6755/0.6745 support
Earlier the RBA said there was no urgent need to cut interest rates, adding to the Australian dollar. Today, Australia's leading indicators and skilled labor vacancies increased respectively in July, indicating signs of stability in the Australian economy. Markets took the President's comments in anticipation of an interest rate cut by us federal reserve, hoping that the next step would be a thaw in trade relations between the US and China, boosting the Australian and New Zealand dollars. Technically, the Australian dollar is focused on the 0.6785 resistance. If the resistance breaks through 0.6785, it is expected to explore the critical resistance of 0.6815. Investors in the New Zealand dollar can look to the Australian dollar. However, it must be noted that during the release of FOMC minutes and the annual meeting of G7, it is recommended to pay attention to the volatility of the Australian and New Zealand dollars, which is more likely to break through the support and resistance levels and strictly control risks.

USDJPY
106.65/106.80 resistance
106.20/106.05 support
The Dow fell before the close, while the dollar fell against the yen following the Dow and Nikkei. It must be noted that during the release of the FOMC minutes, the minutes of the European central bank and the annual meetings of G7, it is recommended to pay attention to the volatility of the dollar-yen, which is more likely to break through the support and resistance levels and strictly control risks. Technically, estimates suggest that the dollar continues to trade between 105 and 106 years. Observe the short term, the dollar against the yen 106.65 and 106.80 as significant resistance, can break is still the key. The bottom support bit pays special attention to 106.05. Keep an eye on the dow and nikkei.

USDCAD
1.3330/1.3345 resistance
1.3280/1.3265 support
Canada's national economic confidence index has been declining continuously since the mid-to-late July. Affected by the decline of Canada's national economic confidence index, Canada's financial risks have increased, and the Canadian dollar has fallen. But the Canadian dollar rebounded as the U.S. dollar fell and U.S. crude stocks fell. Currently keep watching 1.3330 and 1.3345 resistance, looking down 1.3265 support. It is recommended to keep an eye on the oil price changes, the U.S. President's remarks and the federal reserve's monetary policy record, and master the trend of the U.S. dollar and oil prices, indirectly affecting the Canadian dollar.

US crude oil futures
56.55/57.35 resistance
55.15/54.65 support
US President Donald Trump has called on the federal reserve to cut interest rates. The US and China are expected to make good progress in the negotiations. Markets awaited the minutes of the FOMC. Crude oil prices are likely to be capped at a resistance level of 56.55. You have to pay attention to the President's comments and the fed's monetary policy record. A rate cut strongly recommended by fed officials could help boost oil prices. Initial technical resistance, $56.55.

XAUUSD
1509/1513 resistance
1498/1494 support
U.S. President Donald Trump has called for the federal reserve to cut interest rates, with markets expecting a rate cut in September. Looking at the minutes of the Fed meeting today, it is worth watching the volatility of the stock market, which indirectly affects the price of gold. If the dow rises, gold could adjust. If the FOMC minutes show calling for a more significant rate cut, that could boost gold prices. Technically, $1,494 is the tech support bit, which is something to watch. Resistance in 1509 and 1513.

U.S. Dow Jones industrial average futures US30
26060/26200 resistance
25860/25705 support
Looking ahead to the FOMC minutes tomorrow morning, expect to cut interest rates next month to lift the Dow. But as expected yesterday, the FOMC minutes coming. The Dow lost its value; the US President repeat negative comments on the US and China trade talks. Technically, the Dow is expected to test 26060 and 26200 resistance. The lower support bits are 25860 and 25705, respectively.

BTCUSD:
10900 /11230 resistance
10550 / 10250 support
The markets are expecting weak U.S. economic data and global growth downtrend. US treasury yields probably upside down again, Fed may cut interest rates in September. It perhaps an excuse to purchase cryptocurrencies for against any risks and interest rate losses. If the sentiment changes, it could be bearish bitcoin and other cryptocurrencies. Looking ahead to the FOMC minutes tomorrow morning, expect to mention the Fed cut interest rates next month. It could be bullish bitcoin.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

Information provided by AT Global Market, 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.

Legal: 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]

For more analysis check out, please click the below link:


Market Analysis by ATFX Global Chief Market Strategist - Alejandro Zambrano

ATFX is a co-brand shared by a number of different entities globally including:

• AT Global Markets (UK) Limited in the United Kingdom regulated by FCA;
• ATFX Global Markets (CY) Limited in Cyprus regulated by CySEC;
• AT Global Markets Limited registered in the Financial Services Authority (FSA) in Saint Vincent and the Grenadines;
• AT Global Markets Intl Ltd in Mauritus is licensed by the Financial Services Commission (FSC) and;
• AT Capital Markets Limited is a rep office of ATFX Global Markets (CY) Limited regulated by Financial Services Regulatory Authority (FSRA) and CySEC. AT Capital Markets Limited deals with Professional clients only.

 

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Aug 22

Personal opinions today:

The FOMC minutes showing that the Fed's rate cut in July did not signal a recession and that the cycle of rate cuts had begun. The minutes showed the U.S. economy and inflation are expanding, and Fed officials decided to cut interest rates to avoid trade tensions and economic slowdown and to protect the momentum of the U.S. economic cycle. Fed Chairman Powell reiterated that he would not consider raising interest rates until U.S. inflation rose above 2 per cent. So Fed’s policy continues to be dovish, with the Dow just hit to 26,323, gold just reached $1,507 and crude oil at $57. The market still worries about trade talks between the U.S. and China, declines in US manufacturing PMI readings in Europe and the U.S. and the upcoming meeting in Jackson hole, limited Dow gains. USD and gold price maintained strong.

In European trading today, France, Germany and the Eurozone Manufacturing PMI. U.K. CBI retail sales for August. More importantly, the European central bank released the minutes. After Europe session, U.S. jobless claims, the Markit manufacturing and services PMI for August and the US leading index for July.

[Important financial data and events]

15:15 French manufacturing PMI for August
15:30 German manufacturing PMI for August
16:00 Eurozone manufacturing PMI for August
18:00 CBI retail sales differential for August in the UK
19:30 European central bank minutes
20:30 U.S. initial jobless claims last week
20:30 Canada wholesale sales rate in June
21:45 US Markit manufacturing and services PMI for August
22:00 US conference board leading index in July

Today suggestion:

EURUSD
1.1105/1.1120 resistance
1.1065/1.1030 support
France, Germany and the Eurozone released preliminary manufacturing PMI data for August today, and more importantly, the European central bank minutes. The minutes are expected to provide the interest to show ECB interest rate decision. For now, the EURUSD remains stuck at 1.1105 resistance. Technically, recommended support at 1.1075 and 1.1060 and resistance at 1.1105 and 1.1120. Only today must pay attention to the Eurozone preliminary manufacturing PMI for August, the European central bank minutes. Then there are focussing the U.S. jobless claims last week and the Markit manufacturing and services PMI for August. It is recommended to pay attention to the repeated fluctuations of the Euro. If the EURUSD breaks through the support of 1.1060, it may test the level of 1.1030 or below. Please strictly control the risk.

GBPUSD
1.2155/1.2185 resistance
1.2095/1.2065 support
There is more uncertainty about Brexit, and the continuing dispute between the EU and the UK is more likely to hurt the pound than limit its rise. After the federal reserve released the minutes, markets concerned that the European central bank minutes showed the monetary policy. First up today, the market is waiting the U.S. jobless claims and the preliminary Markit manufacturing and services PMI for August. The suggestion pays attention to the fluctuation, the strict control risk. If the pound does not break through 1.2200, then recommendation looks down 1.2065 support.

AUDUSD
0.6785/0.6815 resistance
0.6755/0.6745 support
After the Reserve bank of Australia cut interest rates twice, some Australian economic data maintained growth, the fed released dovish remarks, the Australian dollar rose. Hopefully, the US and China maintained trade relations good, bullish the Australian and New Zealand dollars. We'll look today at U.S. jobless claims last week and the preliminary Markit manufacturing and services PMI for August. Technically, the Australian dollar focus on the 0.6785 resistance. If breakthrough this resistance, expect to explore the critical resistance of 0.6815. Investors in the New Zealand dollar can look to the Australian dollar.

USDJPY
106.65/106.80 resistance
106.20/106.05 support
The Dow kept rising as the fed released minutes, releasing dovish comments, while the dollar traded near 106.65 against the yen, following the Dow and Nikkei. Watch for U.S. jobless claims last week and the Markit manufacturing and services PMI for August tonight, watch the Dow and Nikkei trends. Ahead of the US data, view the European Central Bank minutes, watching the dollar against the yen in the short term. Technically, look for USDJPY resistance to 106.65 and 106.80. Whether the USDJPY can break through the resistance, depends on the Dow and Nikkei.

USDCAD
1.3330/1.3345 resistance
1.3275/1.3260 support
We'll look today at U.S. jobless claims last week and the preliminary Markit manufacturing and services PMI for August. Meanwhile, Canada reported monthly wholesale sales for June. Two data performances can affect the performance of the Canadian dollar. Technically, we are keeping a wait-and-see resistance of 1.3330 and 1.3345, and pay attention to 1.3275 and 1.3260 below. Besides, it is recommended to keep an eye on the price of crude oil, which will catch the trend of the Canadian dollar.

US crude oil futures
56.60/57.10 resistance
55.15/54.65 support
U.S. API and EIA inventories fell, and crude prices rose. Crude oil prices fell after the FOMC minutes did not indicate that the rate cut cycle had begun and suggested the Fed might not need to cut rates in September. The fundamentals are likely to limit the rise in crude oil prices, with resistance at 56.60 and significant resistance at 57.10. We'll look today at U.S. jobless claims last week and the preliminary Markit manufacturing and services PMI for August. Any US data showed weakness; it could increase the risk of a fall in crude oil prices.

XAUUSD
1509/1513 resistance
1498/1494 support
The FOMC minutes did not indicate a September rate cut and the Dow rose, indirectly affecting gold prices fell. If the Dow continues to rise, gold prices could downward. The key is likely to be U.S. jobless claims last week and the Markit manufacturing and services PMI for August. A lower-than-expected reading could bullish the gold prices. Technically, the gold price is worth watching at $1,494 support. If the price of gold rises, it will see a resistance of $1509 and $1513.

U.S. Dow Jones industrial average futures US30
26250/26325 resistance
26060/25975 support
The Dow was likely to adjust after FOMC minutes. The minutes showed there was little chance to do a rate cut in the next FOMC meeting. Today, we have to check out the latest U.S. jobless claims and the US Markit manufacturing and services PMI for August. Also watching the US’s corporate earnings report and related trade talks between the US and China. Technically, the Dow is expected 26325 as significant resistance. The lower support bits are 26060 and 25975, respectively.

BTCUSD:
9800 /10050 resistance
9500 / 9250 support
FOMC minutes showed there was little chance to do a rate cut in the next FOMC meeting. It perhaps an excuse to bearish cryptocurrencies, bitcoin price fell sharply. Today, we have to check out the latest U.S. jobless claims and the US Markit manufacturing and services PMI for August. Also watching the US’s corporate earnings report and related trade talks between the US and China. If any data fail to meet in line, Dow fall or lousy news about trade talks, it could butcher the bitcoin price.

Enjoy trading! The content is for reference only. Please do ensure that you understand the risk.

Information provided by AT Global Market, 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.

Legal: 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]

For more analysis check out, please click the below link:


Market Analysis by ATFX Global Chief Market Strategist - Alejandro Zambrano

ATFX is a co-brand shared by a number of different entities globally including:

• AT Global Markets (UK) Limited in the United Kingdom regulated by FCA;
• ATFX Global Markets (CY) Limited in Cyprus regulated by CySEC;
• AT Global Markets Limited registered in the Financial Services Authority (FSA) in Saint Vincent and the Grenadines;
• AT Global Markets Intl Ltd in Mauritus is licensed by the Financial Services Commission (FSC) and;
• AT Capital Markets Limited is a rep office of ATFX Global Markets (CY) Limited regulated by Financial Services Regulatory Authority (FSRA) and CySEC. AT Capital Markets Limited deals with Professional clients only.