ATFX Market Updates 2019

[Kelly Yeung]

ATFX Market Outlook, 2019 Aug 23

Personal opinions today:

FOMC minutes showed monetary policy meeting revealed that fed officials had no plans to start a rate cut cycle. The US President said the US economy is growing, the economy is in good shape and has not been affected by the trade war between China and the US. The Dow remained high, and the dollar index was at 98. Markets watched over the weekend with the annual meeting of Jackson Hole and the G7 summit.

Finance ministers from around the world are holding talks at the annual central bank meeting in Jackson hole today. More critical today in U.S. trading, federal reserve chairman Powell spoke. Markets watched as central bankers around the world expressed concern about the economic impact of the trade war, paying more attention to the Fed's monetary policy implications. Meanwhile, the governors of the European central bank and the bank of England gave speeches to gauge further whether they were dovish or hawkish on monetary policy related Fed, the Eurozone and UK in September. During the global central bank annual meeting, we focused on the Chinese representatives' desire for a trade war with China, with the hope of countering the trade pressure through global central bank governors. The comments could be a clue to the progress of next month's trade talks. The news, positive or negative, had an impact on global stock markets, gold prices and crude oil prices.

[Important financial data and events]

07:30 Japan Core CPI in July
09:00 Jackson hole annual central bank meeting
20:30 Canada Retail Sales in June
22:00 US New Home Sales for July
22:00 Federal reserve chairman Powell speaks
G7 meeting during this weekend through Tuesday

Today suggestion :

EURUSD
1.1105/1.1120 resistance
1.1065/1.1030 support
The United States July new home sales total and federal reserve chairman Powell speech can affect the dollar, indirectly affect the euro today. From a European central bank, Minutes showed clues to next month's ECB rate meeting. The upcoming annual meeting of global central Banks may have implications for further monetary policy action. The ECB is widely expected to start easing monetary policy in September, keeping the euro below 1.1105 resistance to the dollar. Further confirmation that the ECB is starting policy would be bearish for the euro. Technically, EURUSD preliminary suggested support at 1.1065 and 1.1030, resistance at 1.1105 and 1.1120. In any case, the Jackson Hole and the G7 summit may affect the market opening next Monday, so please keep trading risks under strict control.

GBPUSD
1.2255/1.2275 resistance
1.2210/1.2190 support
Ahead of the Jackson Hole meeting, the British prime minister visited Germany and France to meet with their prime ministers and key members of the European Union group. Curiously, the British prime minister has relented on EU demands and is willing to accept proposed changes to the Irish border backup agreement. As the British prime minister softened his stance, it lifted the pound above the critical 1.2200 level, which was as high as 1.2270. Or, over the weekend, at the Jackson Hole meeting and the G7 summit, the British prime minister could send a positive message, boosting the pound. It is estimated that the preliminary adjustment of the pound today, watching any news at the weekend. It is suggested to pay attention to the support of 1.2210 and 1.2190. If there is good news, it is expected to break 1.2275.

AUDUSD
0.6765/0.6785 resistance
0.6735/0.6715 support
Looking ahead to the annual meetings of Jackson Hole and the G7 summit, there is tension in the markets ahead of next month's US and China trade talks. After all, on the 1st of next month, the US will impose additional tariffs on some of its 300 billion worth of imports from China. Technically, the Australian dollar concerned with 0.6785 resistance can not break through, adjusting, the New Zealand dollar also took advantage of the trend of the Australian dollar. Expect positive news from the two summits, with the Australian and New Zealand dollars getting a boost after the weekend. On the other hand, if the summit is quiet and no improved economic conclusions reached, the Australian and New Zealand dollars may continue to fall.

USDJPY
106.65/106.80 resistance
106.20/106.05 support
The Dow kept rising as the Fed released minutes of its July monetary policy meeting, releasing dovish comments, while the dollar traded near 106.65 against the yen, following the Dow and Nikkei. Looking ahead to the annual meetings of Jackson Hole and G7 meetings, the dollar could get a boost against the yen for more good news. And vice versa. Technically, look for dollar resistance to 106.65 yen and 106.80 yen. Whether the dollar can breakthrough against the yen is still the key to the Dow and Nikkei.

USDCAD
1.3330/1.3345 resistance
1.3275/1.3260 support
Canada reported a monthly increase in wholesale sales in June, adding to the Canadian dollar gain. But crude oil prices fell, offsetting the positive news and the Canadian dollar dropped. 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. Over the weekend, two major summits were held to recommend keeping an eye on crude oil prices, which could affect 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 continued to fall after the FOMC minutes
, no indication that the rate cut cycle had begun and suggested the Fed might not need to cut rates in September. The trade war between China and the United States escalated in early September, with falling crude oil demand also a negative factor. The fundamentals are likely to limit the rise in crude oil prices, with resistance at 56.60 and significant resistance at 57.10. Coupled with weak US economic data yesterday, crude oil prices fell. Fed chairman Powell speech today that it would be hard to see crude oil prices rising without dovish rhetoric.

XAUUSD
1502/1505 resistance
1492/1489 support
The FOMC minutes no indication of a September rate cut and the Dow continued its rally, which indirectly weighed on gold prices. Last night, the number of U.S. workers filing new claims for jobless benefits improved previous week, but weakness in the Markit manufacturing and services PMI readings for August offset each other. Gold could boost if major Finance ministers hint at easing monetary policy, expanding money flows and stimulating their economies. Technically, the gold price in recent months has repeatedly appeared US1492 support, is worth paying attention to. If gold prices rise, the first resistance to $1502 and $1505, or may breakthrough.

U.S. Dow Jones industrial average futures US30
26325/26420 resistance
26150/26060 support
FOMC minutes, the fed said there was little chance of a rate cut next month, failed to lift the Dow, which is adjusting and has not seen a break in its highs. The Jason hole meeting holds through the end of the week from today if major countries hint at easing monetary policy, expanding money flows and stimulating their economies. Or the trade war between China and the United States could cool down, which could boost stocks. If the news is positive, the Dow could move up, hope to 26325 and 26420. But failed, it seems bottom support bit 26060.

BTCUSD:
10300 /10850 resistance
9850 / 9550 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 the day before. The latest U.S. jobless claims and the US Markit manufacturing and services PMI for August seems to fail. Looking trade talks between the US and China during the Jackson hole meeting curt his weekend. If most of Finance minister suggested any easing monetary policy, bullish the bitcoin price and followed the gold 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]

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Market Analysis by ATFX Global Chief Market Strategist - Alejandro Zambrano

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[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Aug 26

Personal opinions today:

The US trade department on Friday planned to raise $550 billion in additional tariffs on Chinese imports on Sep and October separately. The Dow fell, and Asian stocks also fell as the trade tensions between China and the US. The dollar index was dropping to 97. Risk aversion, gold prices and the yen have risen sharply. Over the weekend, the Jackson Hole meeting and the G7 summit appeared in which the US President has been defiant, defying opposition from central Banks and the G7 to a declaration of war on global trade.

The Jackson Hole meeting has ended, and the G7 summit continues. They are discussing the trade war on how to reduce the influence. The global focus on how to reduce global trade tensions and economic recession" Fed chairman Powell's dovish comments, prompted investors to raise the possibility of the federal deploying a rate cut. The G7 summit continues in the next two days, with markets watching to see if U.S. trade policy eases and changes sentiment. Believe it, the stock market, the gold market and currency market are very volatile until the end of the summit on Tuesday.

[Important financial data and events]

(London stock exchange closed for a summer bank holiday.)
16:00 Germany's IFO business climate index for August
20:30 US Durable goods orders in July
21:45 Bank of England governor Carney speech
22:00 US Fed Bullard gives welcome speech on BBS
22:30 US Dallas Fed business activity index for August
The group of seven (G7) summit ends tomorrow

Today suggestion:

EURUSD
1.1170/1.1195 resistance
1.1125/1.1110 support
At the annual meeting of central Banks, the focus is on the federal reserve's monetary policy. Fed chairman dovish remarks, the dollar fell. The U.S. President has raised tensions with China by imposing additional tariffs on Chinese imports. Europe has not been on the trade front this time and is standing alone. The Euro has rebounded strongly. The IFO business climate index for August in Germany and the monthly rate of durable goods orders in the United States in July are noteworthy for their performance today. The Euro is expecting to remain a strength, if drop in the monthly rate of U.S. durable goods orders in July and the Fed interest-rate cut outlook. Technically, EURUSD preliminary suggested support at 1.1125 and 1.1110, resistance at 1.1170 and 1.1195. Besides, continue to pay attention to the G7 meeting, different remarks, please strictly control trading risk.

GBPUSD
1.2290/1.2310 resistance
1.2235/1.2215 support
The British prime minister has responded on EU demands and is willing to accept the European Commission proposed an amendment to the Irish border backup plan, pushing the pound above the 1.2200. Over the weekend, at the Jackson Hole meeting and the ongoing G7 summit, the British prime minister will put an interest in the pound. However, in the normal process, the British prime minister must convince the members of the British parliament who support hard Brexit, and the success rate is not high. The British pound is subject to a crisis, and it is adjusted opportunity. At present, it is recommended to pay attention to 1.2215 support, and if lost, it will explore 1.20. Technically, the pound rebounded within a week, as high as 1.2290. The resistance of the rebound wave is 1.2310. If there is no reason to rise, it is difficult to break through and pay attention to the downside risk.

AUDUSD
0.6750/0.6770 resistance
0.6695/0.6665 support
The US President is striking back at the extra tariffs that China is paying to import 550 billion dollars worth of goods from China, which is hurting Australia's economic interests and hurting the Australian dollar. Technically, this analysis points out last week that the Australian dollar is concerned about the resistance of 0.6785 against us dollar. If it fails to break through, the trend will adjust, and the New Zealand dollar will follow the pattern of the Australian dollar. At present, the G7 summit is still going on. We must pay close attention to the contents and remarks of the summit and see if it can resolve the crisis. If the US President does things his way and is requisitioning China's tariffs without being boycotted globally, there is even higher downside risk to the Australian and New Zealand dollars. The current key resistance is 0.6770, and the support level is 0.6665.

USDJPY
105.80/106.00 resistance
104.80/104.60 support
U.S. federal reserve chairman's dovish comments and an escalating trade war between China and the United States sent the Dow fell and globally, while the dollar fell against the yen following the lead of the Dow and Nikkei. The dollar got a boost against the yen as it waited to see if there was good news to cool down the trade tensions before the final G7 summit. Otherwise, USDJPY may continue to fall. Technically, the dollar against the yen resistance 105.80 and 106.00 resistance. Whether the dollar can lift strength against the yen depends on the Dow and Nikkei trends.

USDCAD
1.3330/1.3345 resistance
1.3275/1.3260 support
As the trade tensions between China and the United States, crude oil prices fall, the Canadian dollar has a chance to fall. Technically, the current hold on 1.3345 resistance, if the resistance break, may test the 1.34 level. Investors are nervous, with conservative estimates of dollar support at 1.3275 and 1.3260. Wait for the G7 summit and watch the U.S. dollar against the Canadian dollar, using oil prices as an indicator of the Canadian dollar.

US crude oil futures
54.60/55.10 resistance
53.15/52.65 support
Oil prices fell as the trade tensions between the U.S. and China again, with U.S. President imposing a trade retaliation against China ahead of U.S. API and EIA inventories. Fortunately, the dovish remarks of the Fed chairman support crude prices. But next week, in early September, China and the United States will impose additional tariffs on each other, lowering expectations of oil demand and depressing oil prices. Fundamentals continue to limit the rise in crude oil prices; the resistance level reduced to 55.10. Hopefully, the Fed chairman Powell intensifies his dovish rhetoric to boost oil prices. Otherwise, they will see the crude oil price tests $52 or $50.

XAUUSD
1552/1556 resistance
1532/1528 support
The trade tensions between China and the United States upgrading, and the stock market fell sharply. Fed chairman releases dovish comments, gold prices rose. Watch out for any good news from the G7 meeting to ease tensions, as gold prices adjust. Technically, the price of gold in recent months has repeatedly hit $1,492, breaking the failure, coupled with the news of bullish gold, gold price rise has broken through the $1,505 resistance. Now the technical resistance between 1552 and 1556, may see $1560 crucial strength. It is worth watching the future trend of the Dow.

U.S. Dow Jones industrial average futures US30
25640/25705 resistance
25250/25160 support
Trade tensions between China and the United States, the Dow deeply fell. While central banks around the world are intent on easing monetary policy, expanding the flow of money and stimulating the economy. But the trade tensions between China and the United States has failed to relax, making it difficult to boost stocks. If the trade tensions between the United States and China upgrading, but the U.S. and China trade talks could continue, the Dow could back. News if market sentiment change to good, technically, the Dow is likely to test resistance.

BTCUSD:
10600 /10850 resistance
11050 / 10050 support
Looking at trade tensions between the US and China upgrading, bullish the bitcoin price and followed the gold price rose. If no any intention to cool down the tensions, the bitcoin price could rise further.

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-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Aug 27

Personal opinions today:

The Dow fell on Friday, and Asian stocks also fell in early trading as the US raised tariffs on $550 billion of Chinese imports. The dollar index had fallen as low as 97, while the dollar fell sharply against the yuan to close at 7.19. Risk aversion has risen, with gold prices and the yen rose sharply. Following US President Donald Trump's remarks yesterday that China called Washington to confirm and continue the trade talks in September, Trump welcomed. Then Dow futures rebounded, while Asian stocks regained some of their losses. Of course, U.S. durable goods orders were higher than expected in July, and the dollar's strength pushes the gold prices, and the yen goes lower, while crude oil futures traded as high as $55.

Earlier today in Europe, the Euro was already downward after Germany released its final quarterly GDP estimate for the second quarter, which was expected to be flat. If the German data turn out to be weaker than market expectations, that could trigger a dip in the Euro. For the US data today, the figures only for reference. Among them, the Richmond Fed manufacturing index in August and the consumer confidence index in August is more critical but less influential. Perhaps the most crucial time of day in the US trading hours. When the President's comments were more closely watched. Both the Fed's monetary policy and China and US relations are the focus of the market, making global markets volatile.

[Important financial data and events]

14:00 German Q2 GDP final
21:00 U.S. FHFA home price index for June
21:00 U.S. Us cities Housing prices in June
22:00 U.S. Richmond Fed manufacturing index for August
22:00 U.S. CB consumer confidence index for August
Next day 04:30 US API crude oil inventories change

Today suggestion:

EURUSD
1.1135/1.1160 resistance
1.1095/1.1060 support
The Fed chairman dovish speech and the US has raised extra tariffs on Chinese imports, which has strained relations with China and the dollar down earlier yesterday. European data were weak, with Germany's IFO business climate index falling in August and U.S. durable goods orders unexpectedly rising in July. The Euro failed to stay strong, falling from its high. Technically, the Euro's preliminary suggested support level against the dollar is above 1.1110, and if German data continues to be weak today, the Euro could test support at 1.1060. The euro's resistance level against the dollar was lowered by weaker European data than the U.S. data. The Euro has an opportunity to test resistance to 1.1135 or 1.1160 if U.S. economic data show weakness or if the chances of the Fed may cut interest rates in September. If EURUSD falls, the Euro could fall further until the U.S. releases its revised second-quarter real GDP figure on Thursday.

GBPUSD
1.2235/1.2255 resistance
1.2190/1.2170 support
The G7 meeting ended after the British prime minister softened his stance on EU demands for a Brexit. The British prime minister accepted the European commission's proposal to revise the backup plan on the Irish border in the hope of pushing for an agreed Brexit at the end of October. Yesterday here said that under routine procedures, the U.K. prime minister would have to successfully lobby MPS who support a hard Brexit to reach a consensus. But the estimate success rate is not high, pound face confidence crisis at any time, adjust significantly. Pound lack of reasons to rise believe in paying attention to the downside risks. If the pound breaks through the 1.2215 support, it will test the 1.20 level. Technically, the adjusted fall in the pound's rebound within a week is expected to lead to the lower support of 1.2170 and more likely to fall further before the United States releases its revised Q2 real GDP on Thursday.

AUDUSD
0.6785/0.6810 resistance
0.6755/0.6735 support
The Australian dollar rebounded on news that trade talks between the United States and China were expected to resume in mid-september, easing the investment climate. But after the rally, the only thing left to watch is whether the fed's monetary policy and US President Donald Trump's comments will bring the AUDUSD up. Otherwise, the Australian dollar's gains could be halted ahead of Thursday's U.S. real GDP revision. Technically, this analysis has pointed out before that the Australian dollar is concerned about the resistance of 0.6785 against the us dollar. If it fails to break through, the trend will adjust, and the New Zealand dollar will also follow the trend of the Australian dollar.

USDJPY
106.10/106.30 resistance
105.55/105.35 support
The trade war between China and the United States escalated, but negotiations continued in mid-september to reassure the market. The Dow and the global stock market rebounded, while the dollar rebounded against the yen following the Dow and Nikkei. For now, the dollar is getting a boost against the yen in the belief that good news in the markets is easing trade war tensions. Any comments add to market against market sentiment, the USDJPY could continue to fall. Technical analysis points to the observation of USDJPY resistance 105.80 and 106.00 resistance yesterday. The USDJPY did not break through the resistance completely, careful trend reversal, its more important to watch the Dow and Nikkei trends.

USDCAD
1.3260/1.3280 resistance
1.3225/1.3205 support
Relations between China and the United States have improved, with the U.S. President saying before the end of the G7 summit that he is willing to talk and negotiate with Iran and seek to ease U.S. sanctions against Iran. Crude oil prices have rebounded, the Canadian dollar indirectly benefited from the rise. Technically, the previous conservative estimates of dollar support were 1.3275 and 1.3260. With the help of the rising crude oil price and the easing trade war atmosphere, the USDCAD exceeded the original support target. If the crude oil price is well established, the USDCAD has the opportunity to test the support of 1.3205.

US crude oil futures
54.60/55.10 resistance
53.15/52.65 support
The market will wait to see the U.S. API and EIA inventories change tomorrow, crude oil prices rise limit. If the dovish comments of the Fed chairman are extrapolated, the China and US trade talks will continue, which is expected to increase crude oil prices. But the administration's willingness to negotiate with Iran to defuse sanctions could increase supplies and limit price increases. Technical crude oil resistance remained at 55.10. Expect fed chairman to boost oil prices with more dovish comments and a reduction in U.S. API and EIA inventories. Otherwise, watch crude oil prices dip.

XAUUSD
1533/1537 resistance
1524/1520 support
The trade tensions between China and the United States escalated, and the stock market fell sharply. Fed chairman releases dovish comments, gold prices soar. But China and US relations improving, through a telephone call between the two trade ministers yesterday, provided good news, eased tensions and adjusted the gold price. News and comments on the gold price is very sensitive, please more focus and catch up the market news. Second, you can watch the Dow futures fluctuations at the same time to catch up the gold price.

U.S. Dow Jones industrial average futures US30
26060/26245 resistance
25855/25705 support
The trade tensions between China and the United States has shown easing, with U.S. durable goods orders over market expectations and investment sentiment back. Dow rebounded. Next, the markets will be watching Thursday for the release of revised U.S. real GDP in Q2 figures. In addition, if the trade war between China and the U.S. eases further, it could keep the Dow up. More importantly, U.S. markets typically take note of comments from the federal reserve and the US President speaks during US trading hours, and if the bullish mood, the Dow could technically test for higher resistance.

BTCUSD:
10600 /10850 resistance
10150 / 9950 support
Looking trade tensions between the US and China early yesterday, bullish the bitcoin price and followed the gold price rose. However, trade tensions cool down. It is because China intended to going trade talks in September. As mentioned yesterday, If no intention to cool down the tensions, the bitcoin price could rise further. Now we seem it may cool down; the bitcoin price could fall a bit. Technically, it supports may looking at 9950.

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-A Global Leader in Online Trading
ATFX Market Outlook, 2019 Aug 28

Personal opinions today:

Starting next week, US trade department will extra charge tariffs on $550 billion worth of China import goods. The market is assuming global economies, exclusive at the two countries are facing a recession. Economic growth slowed in the Q3 to Q4, as businesses faced cash constraints. US two-year and 10-year Treasury yields were again upside down yesterday, USDCNH rose, hit the highest back. More importantly, US long and short term treasury yields have once again fallen, and the Dow future has fallen again. Yesterday the Dow opened higher and closed lower. Then gold prices rose back to $1,543. Nikkei futures closed lower as well, while the USDJPY also traded below 106. U.S. crude oil prices rebounded, helped by a sharp drop in API crude oil stocks, while crude oil futures recovered to the $55 level.

Today, European market attention, Germany Gfk consumer confidence index and the Eurozone money supply M3, observe the impact of the Euro. Swiss ZEW economic status index and investor confidence index, for reference only, believe the impact on the Swiss franc is not significant. The market is more concerned about the German unemployment rate and CPl. It will release tomorrow, and it is a strong impact on the EURUSD. Later, the revised US real GDP was even more important tomorrow. The results will affect expectations for U.S. nonfarm payrolls and could affect the Fed monetary policy decision in September, more directly affecting U.S. two-year and 10-year Treasury yields instantly.

[Important financial data and events]

14:00 German Gfk consumer confidence index
16:00 Eurozone money supply M3
16:00 Swiss ZEW economic status and investor confidence
22:30 EIA crude oil inventories change

Today suggestion:

EURUSD
1.1110/1.1135 resistance
1.1075/1.1060 support
German GDP was flat in the Q2. The key problem is that German GDP remained negative in the Q2 and Q1, Euro weakness. The only reason to support the EURUSD, respectively, is the imminent escalation of the trade tensions between China and the United States, part of the money into the Euro. The US long and short term treasury yields are upside down, and the Fed has released dovish remarks from the FOMC chairman and US President. And markets are waiting for relevant German economic data and revised US Q2 real GDP figures tomorrow. Technically, the EURUSD suggested support level of 1.1110 breakthroughs, looking at going down 1.1060 support. The technical suggestion resistance could see 1.1110 and 1.1135.

GBPUSD
1.2290/1.2310 resistance
1.2250/1.2230 support
The markets found that the British prime minister has been actively working after the G7 summit on a revised backup plan for the Irish border and finding ways to prevent a Brexit by the end of the month. Investors now believe that under standard procedures, the U.K. prime minister must successfully convince most members in British Parliament. But estimates of the current success rate is not high, bearish British pound anytime. The first resistance at 1.23 level, could be 1.2310.

AUDUSD
0.6775/0.6795 resistance
0.6735/0.6705 support
The AUDUSD has rebounded on trade talks between the United States and China resuming in mid-September, easing the investment climate. But after the rally, the market is concerned about how upgraded tariffs between the U.S. and China, which began on Sunday, will boost the impact of the recession. Only now will we see if the Fed's monetary policy and further comments from US President Donald Trump can change, it can be bullish the Australian dollar. At this moment, we will wait and see the U.S. Q2 real GDP revision, limiting the volatility of the Australian dollar. Technically, the AUDUSD first focus on 0.6775 resistance, if not a breakthrough, the trend may be adjusted. Believe that the New Zealand dollar will continue to follow the pattern of the Australian dollar.

USDJPY
106.10/106.30 resistance
105.55/105.35 support
Coming up, the tariffs between China and the United States made trade tensions. The US long and short term Treasury bonds yields was upside down. Negative comments from US President Donald Trump, sending global stock markets go lower. It is recommended to keep watching the Dow and Nikkei to determine the direction of USDJPY trading.

USDCAD
1.3305/1.3320 resistance
1.3275/1.3260 support
A sharp drop in U.S. API crude oil inventories boosted crude oil prices, while the U.S. dollar rose against the Canadian dollar, representing a decline in the Canadian dollar. It could believe that the market is watching the US Q2 real GDP results, the dollar stronger against the Canadian dollar. But if crude oil prices can keep rising, it could be bullish Canadian dollar. Technically, the USDCAD support levels are conservatively estimated at 1.3275 and 1.3260. If the crude oil price rises and the trade tensions ease, the USDCAD breaks through the original support target and has the opportunity to test the 1.3230 support.

US crude oil futures
56.00/56.50 resistance
54.90/54.50 support
U.S. API stocks fell sharply, with EIA stocks expected to fall as well, and crude oil prices rebounded. Fed chairman dovish remarks, China and US trade talks continue in September, stimulate oil demand. But the US President willing to negotiate with Iran could defuse sanctions and boost oil supplies, giving it a chance to limit the crude oil price increases. Technically, crude oil prices broke through resistance at 55.10. However, $56.50 and $57 as Important resistance, worries crude oil prices downward adjustment.

XAUUSD
1545/1550 resistance
1535/1530 support
U.S. long and short term Treasury yields upside down, the Dow closed lower. As always, gold prices rose as the stock market fell. Besides, the dovish comments of the Fed chairman have also spurred gold prices. If any good news in the market, it will ease trade tensions. US Treasury yields are back in healthy, the Dow futures rebounded, and gold would adjust. Please check out the Dow futures to catch up the gold prices.

U.S. Dow Jones industrial average futures US30
25980/26060 resistance
25705/25635 support
The upgraded tariffs between China and the United States is coming, with markets watching for the U.S. revised Q2 real GDP figures released tomorrow. Dow fell over a hundred points yesterday. If the trade tensions between China and the United States can be further eased, the US Treasury bond yields in 2 years and 10 years back to normal, expected to bullish the Dow. On the upside, the Dow could test 25,980 or 26,060 resistance. However, if the support breaks through 25635, the next support will look to 25400.

BTCUSD:
10400 /10650 resistance
9950 / 9650 support
Trade tensions between the US and China, could bullish the bitcoin price and followed the gold price rose. However, it seems cool down, and the bitcoin price could fall a bit. Technically, it supports may looking at 9950 and 9650. The markets watching for the U.S. release tomorrow of revised Q2 real GDP figures.

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 29

Personal opinions today:

US two-year and ten-year Treasury yields continue to upside down, yesterday the Dow opened lower, gold prices rose, briefly approaching $1,547. Nikkei futures also fell, with the USDJPY trading as low as 105.65. Crude price rose because a decline in APl and EIA crude oil stocks, US crude oil prices rose, leading the Dow futures to rebound as much as 200 points. Unfortunately, after the news was digested, the market continued to wait and see the US Q2 real GDP revision and the number of new jobless claims, crude oil futures prices adjusted, in the rebound wave between 61.8% and 73.6% consolidation.

Assuming the European markets open today, limiting the euro's rise in anticipation of an increase in jobless figures ahead of Germany and unemployment rate. This was follow by changes in the Eurozone economic and industrial sentiment index and consumer confidence index for August. In the evening, Germany released its first reading of the CPI for August, but more important is the US real GDP. The result will affect the dollar index and indirectly affect the price of the dollar against major currencies and gold price. Crude oil prices will be affected by the US GDP results, indirectly affecting the forecast of oil demand in the next quarter, thereby affecting price fluctuations. Of course, U.S. durable goods orders unexpectedly rose in July at the start of the week, which is expected to help lift the outlook for U.S. economic growth. As long as the US GDP may not fall sharply, it can be bullish the dollar and support the price of crude oil, and it may decline relative to the price of gold. A good number of U.S. data that could improve the Treasury yields, helping lift the Dow and worldwide stock indexes.

[Important financial data and events]

14:45 French GDP
15:55 German unemployment change and unemployment rate
17:00 Eurozone economic and industrial sentiment index
17:00 Eurozone consumer confidence index
20:00 German CPI
20:30 U.S. Q2 real GDP revision
20:30 U.S. initial jobless claims
20:30 Canada Q2 current account
22:00 U.S. existing homes sales

Today suggestion:

EURUSD
1.1110/1.1135 resistance
1.1060/1.1045 support
Today may be watching the German unemployment change, unemployment rate and CPI monthly preliminary data. Also, final readings on economic and industrial sentiment and consumer confidence in the Eurozone. More important, the United States reported revised Q2 real GDP figures. That could affect the Euro in the short-term. Technically, the EURUSD resistance can be noted 1.1110 and 1.1135 in range. If the EURUSD falls, first note the 1.1060 support.

GBPUSD
1.2250/1.2270 resistance
1.2190/1.2170 support
The British prime minister has written to the Queen asking her majesty to postpone the parliamentary session until the end of the Brexit deadline. The action has affected British politics, triggering the possibility that Britain could end up leaving the EU without a deal. The British prime minister's actions, contrary to what he said to the European Union during the G7 summit, are bearish the pound. Today, the market will be looking at the US Q2 real GDP figures then look ahead to the pound. Markets are still waiting to see the release of US economic data tonight, believing that the volatility of pound will be limited. The resistance could see 1.2250 and 1.2300, respectively, as significant resistance to the pound, worthy of attention.

AUDUSD
0.6775/0.6795 resistance
0.6705/0.6689 support
U.S. Q2 real GDP revisions is coming, expected to limit gains in the Australian dollar ahead of the release. What is more important is that starting from this Sunday. The United States is raising additional tariffs on Chinese imports in stages beginning over the weekend as the trade war between the United States and China upgrading, which is indirectly hurting the Australian economy. Of course, in this phase of the fall in the China RMB, also indirectly affect the Australian dollar. Technically, the AUDUSD first focus on the 0.6775 resistance. It would believe that upgrading trade war. It is difficult to find a breakthrough. The Australian dollar is expected to continue its downward until early next week. Believe that the New Zealand dollar will continue to follow the trend of the Australian dollar. Investors can refer to the USD/CNH (code: USDCNH). If the USDCNH rises, it means the RMB falls, which also means the Australian dollar has the opportunity to follow the trend of decline, and if the reverse happens, the Australian dollar will rebound.

USDJPY
106.10/106.30 resistance
105.55/105.35 support
The United States is raising additional tariffs on Chinese imports in stages starting over the weekend as the trade war between the United States and China upgrading. Second, the US Treasury yields upside down, the Dow to the global stock market rise limit. More likely to be affected by investment sentiment, the Dow has a chance to fall. Also, Japan and South Korea have tightened export restrictions on technology products already in effect, which has the potential to affect the Japanese economy and the Japanese stock market. In general, the USDJPY tracks the Dow and Nikkei. If this new round of trade wars, could lead to global stock market declines, the USDJPY may follow. It is recommended to keep watching the Dow and Nikkei to determine the direction of USDJPY trading. Believe that the 106.30 significant resistance.

USDCAD
1.3325/1.3340 resistance
1.3275/1.3260 support
The sharp decline of API crude oil inventories in the United States has boosted the price of crude oil. Unfortunately, the trade tensions between China and the United States has escalated. The Canadian dollar, in this case, has failed to keep pace with crude oil prices, falling instead of rising. We believe that today, the market will watch the US Q2 real GDP results, and then reflect the performance of the dollar. Technically, it is still possible to believe that the Canadian dollar's decline could be contained if crude oil prices keep rising.

US crude oil futures
56.50/57.05 resistance
55.00/54.55 support
Crude oil prices have rebounded as U.S. API and EIA inventories have fallen sharply. Watching U.S. Q2 real GDP results today, if they exceed market expectations, could boost oil demand and prices. But the US President is showing signals to reduce the Iran sanctions. If improved the relations lead to an increase in oil supply, it is more likely to fall than limit the rise in oil prices. Technically, this analysis pointed out yesterday that the crude oil prices at $56.50 and $57.05 resistance, pay attention to crude oil prices downward adjustment.

XAUUSD
1545/1550 resistance
1535/1530 support
The yield on U.S. Treasury bills was upside down, limiting the Dow's gains. As always, if Dow fall, gold prices rise. Besides, the Fed chairman has released dovish remarks, also solidified the gold price rise. U.S. Q2 GDP revisions were higher than market expectations, U.S. Treasury yields returned to positive territory, the Dow future is expected to rebound above the 26060 resistance, and gold prices have a chance to make a deep correction. For now, keep an eye on Dow futures and catch gold prices movement.

U.S. Dow Jones industrial average futures US30
26060/26250 resistance
25705/25635 support
The United States is raising additional tariffs on Chinese imports in stages starting over the weekend as the trade war between the United States and China upgrading, and the mood of investment cautiously. Also, the market is mainly watching the release of the United States Q2 real GDP revised results. If the trade tensions between China and the US eases, the US GDP revision is better than expected, and the inverted Treasury bond yield is improved, the Dow could rise. Technically, the Dow break 25980 resistance, the next level of resistance is 26060 and 26250. On the contrary, if the support 25635 breaks, the next support will look to 25400.

BTCUSD:
10050 /10250 resistance
9450 / 9150 support
Trade tensions between the US and China, could bullish the bitcoin price and followed the gold price rose. However, it seems cool down; the bitcoin price could fall a bit. Technically, it supports may looking at 9950 and 9650. That was here mentioned yesterday. The markets watching for the U.S. release US Q2 real GDP revised figures. If it is below previous data and lower expectation. That could affect the FOMC monetary policy decision and bullish the bitcoin price. Keep watching the US data tonight.

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

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 30

Personal opinions today:

It is reported that the United States and China held a conference call on trade, US Q2 real GDP in line. These news heated up investment market, with the dollar and U.S. stocks rising and kinds of safe-haven assets such as the yen, Swiss franc and gold price falling. The above factors, consistent with yesterday's analysis. Crude oil prices closed at their highest level in more than two weeks after news of a sharp drop in U.S. crude inventories and a trade call between US and China. In Oil market, the market is worried about the impact of typhoon on in US, affecting oil supplies.

[Important financial data and events]

07:30 Japan unemployment rate in July
14:00 UK Nationwide monthly house price index for August
14:45 France CPI in August
15:00 Switzerland's economic leading indicator for August
16:30 UK Bank of England mortgage lending in July
17:00 Eurozone unemployment rate for July
17:00 Eurozone CPI for August
20:30 US the core PCE price index of the United States in July
20:30 Canada GDP in June
21:45 Chicago PMI for August
22:00 US Michigan consumer confidence index for August

Today suggestion :

EURUSD
1.1070/1.1085 resistance
1.1040/1.1025 support
The U.S. real GDP in the second quarter was slower than the previous quarter, but outperform than the Eurozone and Germany. Meanwhile, factors such as Eurozone consumer confidence index and German CPl drop from the previous month weighed on the Euro, affecting the short-term volatility. The next European central bank president said the ECB still has room to cut interest rates, which is also bad for the euro. Last night the euro was as low as around 1.1040. Technically, EURUSD resistance is 1.1110 and 1.1135, adjusted to 1.1070 and 1.1085, it is still possible to continue to fall. Target support between 1.1040 and 1.1025. It is worth noting today that the Eurozone unemployment rate for July and CPI for August. The evening was dominated by a slew of U.S. inflation data, with a special focus on Michigan consumer confidence index for August.

GBPUSD
1.2200/1.2225 resistance
1.2190/1.2170 support
The British prime minister letter to the queen asking for an extension of the parliamentary session to try to prevent a hard Brexit at the end of October. But the news touched off opposition MPS and the prime minister could face impeachment. Last night, the United States reported revised second-quarter real GDP figures in line with expectations, the European central bank was talking about cutting interest rates, and there was uncertainty about Britain's ability to reach a deal to leave the European Union. The news was bearish for British pound, which fell below 1.2190. It is worth noting today that the Eurozone unemployment rate for July and the initial annual rate of CPI for August. The evening was dominated by a slew of U.S. inflation data, with a special focus on the Michigan consumer confidence index for August. The above data indirectly affect the pound!

AUDUSD
0.6735/0.6750 resistance
0.6700/0.6685 support
The U.S. dollar rose and the Australian dollar fell as second-quarter real GDP revisions were in line with market expectations. Starting from this Sunday, the US trade department is going to ask for higher import tariffs on Chinese goods, which is indirectly hurting the Australian economy and affecting the aussie dollar. Believe that the escalation of trade war, the Australian dollar lack of reasons to rise. The Australian dollar is expected to continue its downward trend. Meanwhile, the New Zealand dollar will continue to follow the Australian dollar. Technically, the recommendation is to focus on the 0.6700 and 0.6685 support levels, with the Australian dollar expected to consolidate in this range.

USDJPY
106.55/106.70 resistance
105.75/105.50 support
Japan unemployment rate improved, beating market expectations, and the Nikkei stock also did well. But with an escalating trade war between China and the United States looming, the yen could rise as a safe-haven asset amid concerns about a bearish investment climate. Admittedly, the USDJPY trend generally follow the Dow and Nikkei trend mainly. Market information is changing, if a new round of trade war escalation, it may lead the global stock market decline, the USDJPY may follow the fall. It is recommended to keep watching the Dow and Nikkei to determine the direction of USDJPY trading.

USDCAD
1.3325/1.3340 resistance
1.3275/1.3260 support
Crude oil prices have been boosted by a sharp drop in U.S. API inventories, a typhoon in the United States and a trade call between China and the United States. Canada's current account deficit improved in the second quarter and is expected to report a positive reading on Q2 GDP today, also supporting the Canadian dollar. But Q2 U.S. real GDP results were in line with expectations, and the dollar's strength limited the rise of the Canadian dollar. The evening was dominated by a slew of U.S. inflation data, with a special focus on the Michigan consumer confidence index for August. The above data indirectly affect the Canadian dollar!

US crude oil futures
56.85/57.05 resistance
55.00/54.55 support
Crude oil prices have rebounded again after the U.S. API and EIA inventories fell sharply and the impact of a typhoon on U.S. crude oil supplies. That, along with the fact that U.S. real GDP was in line with market expectations, also bullish oil prices. But it must be noted that the new round of trade tariffs between China and the United States escalated on Sunday, affecting the market demand for crude oil. A goodwill move by Washington to talk to Iran about easing sanctions could boost supplies and depress prices. Technically, crude oil is in the $56.50 and $57.05 resistance range, and technically, there is a lot of resistance. Watch for crude oil prices to adjust downward before hitting $57.

XAUUSD
1535/1538 resistance
1520/1517 support
Yesterday this analysis mentions, the US Q2 real GDP revision is higher than market expectations, Treasury yields back in line, the Dow is expected to rebound, break through 26060 points resistance, gold prices have the opportunity to deep adjustment. While U.S. GDP was only in line with expectations, which, along with other good news, lifted the Dow higher and gold prices adjusted deeply. For now, keep an eye on Dow futures and catch gold prices. This evening was dominated by a slew of U.S. inflation data, with a special focus on the Michigan consumer confidence index for August. These data directly affects the Dow, indirectly affects the gold price!

U.S. Dow Jones industrial average futures US30
26535/26800 resistance
26060/25860 support
The new trade tariffs between China and the United States began on Sunday, should affected the investment sentiment. Last night, the United States reported revised second-quarter real GDP figures in line with expectations, and the trade ministry of China and the United States held talks to boost the investment climate. Watch out for a number of U.S. inflation data tonight, with a special focus on the Michigan consumer confidence index for August. In addition, the Dow could continue to rise if the trade escalation between China and the U.S. eases. Technically, the Dow broke through 25980, while resistance also broke through 26250, hitting near its early August high of 26400. If the bounce wave is used, the upper resistance is 26535 and 26800 respectively.

BTCUSD:
9750 /9950 resistance
9250 / 9020 support
If trade tensions between the US and China continue, could bullish the bitcoin price and followed the gold price rose. However, it seems cool down, the bitcoin price could fall a bit. Technically, it supports may looking at 9250 and 9020. The U.S. release US Q2 real GDP revised figures in line. Recommend looking at Michigan consumer sentiment index today. That could affected the FOMC monetary policy decision and 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.