ATFX Market Updates 2019

[Kelly Yeung]

ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2019 September 20

Personal opinions today:

The world's four major Central Banks, the federal reserve, BoJ, Bank of Switzerland and Bank of England, announced the results of interest rate hikes yesterday. Fed Chairman Powell said at a news conference that the fed would consider cutting interest rates if needed, but did not signal the start of a rate-cutting cycle. The Banks of Japan, Switzerland and the United Kingdom kept interest rates unchanged, while currencies rose. Today, the market is focused on the China and US vice-minister trade consultation and expects progress to step forward for the high-level consultation in October, boost the investment climate and bring positive development to the economy in the fourth quarter.

[Important financial data and events]
Note: * is the degree of importance

07:30 August national core CPl ***
09:30 China central bank announces lending market rate ***
14:00 German PPI in August **
20:30 Canada July retail sales ***
22:00 Eurozone consumer confidence for September **

Today's suggestion:

Eurodollar
1.1050/1.1065 resistance
1.0995/1.0975 support
After the Fed cut interest rates by 25 basis points, no further rate cuts were indicated, and the dollar rebounded against the Euro. Germany producer price index (PPI) for August is in focus today. Market expectations for a fall from its previous level could be bearish for the Euro if it falls below -0.2%. In U.S. trading hours, Eurozone consumer confidence for September was a concern. If the results are better than expected, it could be bullish Euro. Technical to moves, Euro below 20-hour and 10-hour moving averages, limited to 1.1050 resistance. Adjusted wave 50% is 1.1015, followed by 1.0995 and 1.0975, respectively.

Pound against dollar
1.2555/1.2580 resistance
1.2505/1.2475 support
The federal reserve cut interest rates by 25 basis points and the Bank of England committee unanimously left rates unchanged, with gains for pound. The European commission's Brexit negotiations leader he said, they will be resolved. The good news helped the pound. It hit a two-month high near 1.2560 resistance. Markets are watching to see if the British prime minister faces impeachment if parliament reconvenes and if parliament can block the passage of the Brexit deadline, which could limit pound's gains.

Australian dollar against US dollar
0.6805/0.6820 resistance
0.6770/0.6755 support
Fed after the interest rate decision, and no further interest rate reduction intention, the US dollar rose, bearish Australian dollar. The federal reserve did not signal the beginning of a rate-cutting cycle. The New Zealand dollar follows the Australian dollar. Note that the Australian and New Zealand dollars fluctuated during the Fed's announcement.

Dollar/yen
108.25/108.40 resistance
107.80/107.65 support
The Bank of Japan raised interest rates without expanding quantitative easing policy, and Japan's CPI fell slightly in line with market expectations in August, with a bullish the yen. After the Bank of Japan interest rate decision, the governor of the Bank of Japan press conference, did not indicate any policy adjustment, also bullish the yen as well. But Nikkei futures adjustment from high, the dollar against the yen followed the trend go down. After the Bank of Japan meeting, the dollar against the yen test 108.40 resistance failed, the trend correction down to 107.80. Technically, the dollar followed the Dow futures trends, short-term we note at 108.40 resistance and 107.65 support.

U.S. dollar against the Canadian dollar
1.3270/1.3290 resistance
1.3225/1.3205 support
Canada's August CPI was in line with market expectations, as markets priced in weak Canada data and lifted the Canadian dollar on higher crude oil prices. Take note of what the U.S. President and federal reserve officials speaks, of the progress of the China and US trade talks at the vice-minister level, which indirectly affected the price of crude oil and the direction of the Canadian dollar.

US crude oil futures
59.70/60.30 resistance
58.25/57.55 support
Saudi crude oil supply system has been attacked; some crude oil supply is gradually restored. Crude oil futures also fell as U.S. API crude inventories rose. Crude oil futures supply is expected to stabilize slowly, and fundamentals limit the upside for crude oil prices, with opportunities to fall. Technically, 60.30 is a significant resistance. F break the resistance, it could bullish crude oil futures.

Gold
1508/1511 resistance
1495/1492 support
The Fed cut rates in line with expectations and later said it was not considering cutting rates at its next meeting. Central Banks in Japan, Switzerland and the United Kingdom left interest rates unchanged, while Japan and the British did not extend their easing policies to limit the rise in gold prices. Right now, if Dow futures rise, gold could fall. With no U.S. economic data release today, gold could trade in a range trading, but keep an eye on the U.S. President's comments. Technical in short term, the gold price, important support level of $1492, if there is no breakthrough support level, gold price rally is still unchanged.

U.S. Dow Jones industrial average futures US30
27305/27505 resistance
26970/26865 support
The market is watching the vice-minister-level talks between China and the United States, which indirectly affected the investment sentiment, Dow futures limited gains. Market expectations of the federal reserve incoming meeting, the space to cut interest rates is limited. Until the trade war is resolved, only the Fed can lower interest rates further, which could affect bullish Dow futures and test resistance. Otherwise, watch for downside risks to Dow futures.

BTCUSD:
10550 /10950 resistance
10150 / 9850 support
The FOMC cut rate in line, and monetary policy remained, the bitcoin price is looking go up. Incoming, we have to look at the Dow future fell, the bitcoin price and cryptocurrencies would upward. Because the market is going to forecast the US GDP that releases next Thursday. If Dow future keeps rise, please aware the bitcoin price go down first.

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]

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 September 24

Personal opinions today:

The Australian and Eurozone manufacturing PMI fell in September, while the US manufacturing PMI rose in September, which was positive news for the dollar and the dollar index rebounded. The British court of justice which is expected to be unconstitutional and negative news for pound until the justice result. The lack of progress in trade talks between China and the US and the slowdown in global economic data have raised fears that central Banks around the world are planning to cut interest rates further, and gold and silver prices have risen. Supply could tighten, supporting crude prices. After a recent dip of $57.60, bulls piled into bullish crude prices in anticipation of tomorrow's U.S. crude inventory results.

Today's European trading session, Germany September IFO business sentiment index leads the market focus. If the result is unexpectedly higher than last month, it could be bullish for the Euro and Swiss franc. In U.S. trading, expectations of a decline in the Richmond fed's manufacturing index and conference board consumer confidence index in September could be bearish for the dollar. The release of U.S. API crude oil inventories last week had a volatile effect on crude futures prices, which could have an impact on the supply and sales shares in the U.S. Dow future.

[Important financial data and events]
Note: * is the degree of importance

16:00 German September IFO business sentiment index ***
18:00 UK CBI industrial orders in September **
21:00 US housing price index in 20 big cities in July **
22:00 US Richmond Fed manufacturing index **
22:00 US CB consumer confidence index for September **
Next day 4:30 US API crude oil stocks last week ***

Today's suggestion:

Euro/dollar
1.1025/1.1040 resistance
1.0975/1.0960 support
The preliminary reading of the Eurozone manufacturing PMI for September disappointed the market and the market waited to see the result. The preliminary reading of the U.S. Markit manufacturing PMI rose in September, while the dollar strengthened and the Euro weakened. Technical trend, Euro limited to 1.1050 and 1.1070 significant resistance. If the German September IFO business sentiment index picks up sharply today, the U.S. data is weak and the Euro rebounds, it could hit 1.1025 or 1.1040 resistance, compared with the more important support currently at 1.0975 and 1.0960.

Pound against dollar
1.2465/1.2485 resistance
1.2410/1.2390 support
Markets are waiting for a verdict from the British court, parliament to reopen and the prime minister could face impeachment, blocking a deadline to pass the original Brexit deal and bearish pound. Without any good news, pound will
limit the 1.2530 resistance, but also look forward to testing the 1.22 level.

Australian dollar to US dollar
0.6790/0.6805 resistance
0.6740/0.6725 support
The federal reserve has no intention of cutting interest rates, the US economic data remain growing, the us dollar rose, negative Australian dollar. The market is waiting for the bank of New Zealand to raise interest rates tomorrow, against the Australian and New Zealand dollars. The AUDUSD and NZDUSD are expected to have further to fall before the reserve Bank of New Zealand moves.

Dollar against yen
108.05/108.30 resistance
107.55/107.35 support
Against the yen, the dollar followed the narrow range of Dow and Nikkei futures. Technically, the dollar against the yen challenge 108.40 resistance failure, trend reversal. The dollar against the yen with the Dow futures performance if continue to decline, yesterday successfully tested 107.35 support level. At this stage, the market is looking forward to a high-level consultation with China's trade minister next week. It is worth noting the relevant news. We are looking forward to a strong rebound in the stock market.

U.S. dollar against Canadian dollar
1.3290/1.3310 resistance
1.3225/1.3205 support
Crude oil prices rebound, the Canadian dollar fell adjusted. The market is looking U.S. API crude oil inventories, as well as the expected trade minister level negotiations, indirectly supporting crude oil prices and the Canadian dollar. Technically, the initial target is 1.3225 and 1.3205.

United States crude oil futures
59.20/59.50 resistance
57.85/57.55 support
Some Saudi oil supplies are expected to resume in October after the attack. Current market estimates of a decline in U.S. API crude oil inventories support the rise in crude futures prices. Besides, tensions between the United States and Iran could trigger a rise in crude oil futures prices. Technically, note that 60.30 is an important resistance. As politics can boost crude oil prices, an escalation in the U.S. and Iraq situation could bullish crude oil futures prices, which should see support at lows.

Gold
1527/1530 resistance
1515/1512 support
Rising tensions between the United States and Iran, the risk of a Brexit and fears of a slowing U.S. economy could boost gold prices. Comments from the US President, who has repeatedly called on the federal reserve to cut interest rates, could further raise the price of gold. Technical gold price, short-term important support level of $1492, if there is no break the support, assuming the gold price rally is still unchanged. Technical has reached the expected 1520 and 1523 resistance range, in 1527 and 1530 important resistance, note any chance to drop.

U.S. Dow Jones industrial average futures US30
27205/27355 resistance
26970/26865 support
The lack of progress in the vice-minister-level discussions indirectly affected sentiment in Dow futures. The market is looking forward to next week's minister meeting to make progress and support Dow futures. The expected Fed meeting this year with limited room to cut rates will limit the performance of Dow futures. Dow futures are expected to test upside resistance only if the U.S. and China trade war remains unresolved or if the federal reserve indicates it can cut interest rates further. Otherwise, remain mindful of the downside risks to Dow futures.

BTCUSD:
9880 /10050 resistance
9250 / 9050 support
Before The FOMC cut rate in line and monetary policy remained, the bitcoin price is looking go up. Now, we have looking at the Dow future, if Dow future keeps rise, please aware the bitcoin price go down first.

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 September 25

Personal opinions today:

The Euro rebounded from its lows after Germany's IFO business sentiment index rose higher expected in September, in line with U.S. consumer confidence and a bigger-than-expected drop in September's Richmond federal reserve manufacturing index. The dollar fell, and the pound rallied nearly 100 points against the dollar. But the UK CBI industrial orders gap fell in September after a British court ruled that the prime minister's request for a parliamentary recess was unconstitutional. US President Donald Trump has again commented on the terms of a US and China trade deal, raising fears that trade talks will not move forward next week. A UN meeting has begun, with reports that US President Trump could be impacted his popularity dropping. Dow futures fell more than 300 points, asset safety, yen, gold and silver prices rose. U.S. API crude oil inventories rose, bullish exit crude oil prices fell.

Today, the New Zealand federal reserve released the interest rate decision, Germany in October Gfk consumer confidence index and the UK September CBI retail sales gap was the market concern, the impact of the European currency. The United Nations conference opened in the United States during trading hours, and it was worth watching as world leaders spoke. Speeches by Fed officials and Bank of England governor Carney. The data, including the total number of new U.S. home sales in August and U.S. EIA crude oil inventories last week, are noteworthy. Dow futures were further weakened if total U.S. home sales fell in August from expected growth, which could weaken the dollar.

[important financial data and events]
Note: * is the degree of importance

07:50 Bank of Japan minutes
10:00 New Zealand federal reserve interest rate decision ***
14:00 Germany October Gfk consumer confidence index ***
16:00 Swiss ZEW investor confidence index for September **
18:00 CBI retail sales in the UK in September *
20:00 Fed's Evans speaks
21:05 Bank of England Carney speech ***
22:00 US new home sales in August ***
22:30 U.S. EIA crude oil inventory change **
23:15 Bank of England jay Carney speech ***

Today's suggestion:

Euro dollar
1.1025/1.1040 resistance
1.0985/1.0970 support
Germany's IFO business sentiment index rose sharply in September, U.S. data was weak and the euro bounced back, putting it on track to hit 1.1025 or 1.1040 resistance. Technical trend, the euro is limited to 1.1050 and 1.1070 important resistance, it is worth watching whether the short-term breakthrough. The more important support bits are still 1.0985 and 1.0970.

Pound dollar
1.2485/1.2515 resistance
1.2440/1.2410 support
The British court has ruled that the prime minister's request to adjourn parliament is unconstitutional. More uncertainty preventing Britain from passing a deal before the deadline for leaving the European Union could bearish the pound. In the absence of good news or a weak US economy, the rise in pound could limit significant headwinds to 1.2530, with opportunities to test 1.22.

Australian dollar US dollar
0.6805/0.6820 resistance
0.6770/0.6755 support
New Zealand central bank interest rate, the outcome can affect the Australian and New Zealand dollar. The trade war between China and the US has been criticized by the US President, and the investment climate could be bearish for the Australian and New Zealand dollars. A dovish outlook on monetary policy, combined with next week's RBA rate meeting, could limit gains and is more likely to be bearish for the Australian and New Zealand dollars.

Dollar/yen
107.35/107.50 resistance
106.85/106.70 support
Against the yen, the dollar moved in tandem with Dow and Nikkei futures. Technically, the dollar/yen challenge 108.40 resistance failed, the trend reversed, the dollar/yen with the dow futures performance continued to decline, break 107.35 support level. At this stage, the market is looking forward to the high-level consultation of China's trade minister next week, which is worthy of attention. We are looking forward to a strong rebound in the stock market, without breaking 106.85 or 106.70 support, and the US dollar/yen to challenge 107.50 resistance.

U.S. dollar Canadian dollar
1.3290/1.3310 resistance
1.3225/1.3205 support
Crude oil prices fell at low levels, limiting the Canadian dollar's rise. Looking forward to the progress of trade ministerial consultation, indirect support for crude oil prices and Canadian dollar trend. Technically, the initial target is 1.3225 and 1.3205. But at present the situation is unclear and crude oil price falls the momentum, the recommendation dollar against Canadian dollar 1.3225 and 1.3205 support, looking at 1.3290 or 1.3310 resistance

US crude oil futures
57.55/58.05 resistance
56.05/55.55 support
U.S. API crude oil inventories as a result of the increase, crude oil futures prices lost support fell. US-Iran tensions did not escalate; US consumer confidence falls; Crude oil futures fell after the US President criticised the trade deal, bearish market expectations for talks next week. Beyond politics and progress in trade talks, crude prices could be boosted. The escalation of the situation between the United States and Iran may boost crude oil futures prices, otherwise technical trend, crude oil prices may further test low support.

Gold
1538/1542 resistance
1525/1522 support
The U.K. could again face the risk of a hard brexit, and dow Jones industrial average futures fell hundreds of points as U.S. economic data slowed, lifting gold prices above $1,530. Earlier, the gold price, the short-term important support level of $1492, if the support level does not break, the gold price rally is still unchanged. Technical breakthrough in 1520 and 1523 resistance range, explore in 1527 and 1530 important resistance range. Gold is still expected to test resistance between 1538 and 1542 ahead of key U.S. economic data on Thursday and Friday. However, please note that any news changes the investment climate, gold price correction risk. More attention to the Dow futures’s trend and gold price reversal relationship.

U.S. Dow Jones industrial average futures US30
27085/27275 resistance
26580/26490 support
China and the United States failed to make progress in their vice-minister-level consultations, and are looking forward to high-level officials' discussions next week. But the U.S. President's negative comments again, indirectly affecting investment sentiment. Dow futures fell in anticipation of weak U.S. economic data ahead of next week's ministerial meeting. Expect key U.S. data this week, including the final reading on Q2 GDP, durable goods orders and the Michigan consumer confidence index, with downside risks to Dow futures.

BTCUSD:
9550 /10250 resistance
8250 / 7900 support
The FOMC would not cut rate and monetary policy remained in ear future, there is no excuse to expect any currencies risk. The crypto market demand drops. Now, we have looking at the Dow future, if Dow future rebound, aware the bitcoin price go down. But technically, US7900 support is very important support. If the bitcoin fails to the support, it would test US7000 to US6500 support

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.

 

[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 September 26

Personal opinions today:

The market waits and sees the real US GDP in Q2 final release today, and durable goods orders and Michigan consumer confidence index released tomorrow. But last night, the U.S. President at a United Nations meeting said that a trade deal with China would be reached soon, boosting investment sentiment and bullish Dow futures and the dollar rose. Dow futures rebounded over 100 points, and gold price fell $28 to as low as $1,501. The price of silver and the yen and other major currencies fell against the dollar. Crude oil futures rose after the news helped offset falling demand for the commodity.

On the data front, the final quarterly rate of real U.S. GDP in the Q2, the final quarterly rate of core PCE price index and the number of U.S. jobless claims last week are expected to be weak, which may be bearish for the dollar. The monthly rate of contract sales of existing U.S. homes in August is expected to be more than offset by a positive dollar reading. European central bank President Mario Draghi spoke during U.S. trading hours. It is worth noting that Draghi's remarks, whether the content of the ECB's future monetary policy, affect the trend of the Euro. If the dovish speech, the euro could come downward, or gold could make bullish.

[Important financial data and events]
Note: * is the degree of importance

14:00 Germany October Gfk consumer confidence index **
20:30 U.S. real GDP final in Q2 ***
20:30 U.S. core PCE price index in Q2 **
20:30 U.S. jobless claims last week
20.30 U.S. real personal consumption expenditure Q2 ***
21:30 ECB President Mario Draghi speech
22:00 U.S. existing homes sales **
22:00 Fed Bullard speaks *

Today's suggestion:

Euro to dollar
1.0970/1.0985 resistance
1.0940/1.0925 support
German October Gfk consumer confidence index and ECB President Mario Draghi speech today, may affect the Euro volatility. But it's interesting to see if the U.S. data was weak today. If U.S. GDP and other economic data fall short of market expectations and technical moves, the Euro remains uncertain, with significant headwinds limited to 1.1050 and 1.1070. After the breakthrough of 1.0970 significant support bit, the next important support bit is 1.0925.

Pound to dollar
1.2385/1.2415 resistance
1.2335/1.2305 support
The British court ruled that the prime minister's request for parliament to adjourn was unconstitutional and parliament could resume. The British prime minister is facing impeachment by MPS and is more likely to call a fresh general election to block talks with the EU with only a month to go. In the face of these uncertainties, continue to be bearish for pound, looking at the situation in the UK, the US economy continues to grow, the pound has a chance to test the 1.22 level. First support level, reference 1.2305 support, resistance level 1.2415.

Australian dollar to US dollar
0.6775/0.6795 resistance
0.6735/0.6715 support
New Zealand's central bank raised interest rates and was flat, in line with expectations that the New Zealand dollar had rebounded. Next week, the reserve bank of Australia interest rate, the central bank has the opportunity to cut interest rates, negative Australian and New Zealand dollar. The trade war has been spurred by the US President's remarks, boosting the investment climate. However, China did not say that the trade war situation has not wholly improved; It is believe that bearish for the Australian and New Zealand dollars.

Dollar/yen
107.85/108.05 resistance
107.35/107.15 support
The U.S. President said a US-China trade deal would soon be reached, boosting Dow and Nikkei futures, while the dollar continued to rebound against the yen. Break 107.35 resistance level, challenge 107.85 resistance. But with U.S. GDP today and expected weak U.S. economic data over the next two days, the Dow's rally could end, and the dollar could fall against the yen. Technical may drop 107.35 and 107.15 support.

U.S. dollar to Canadian dollar
1.3290/1.3310 resistance
1.3225/1.3205 support
A rise in crude oil prices helped support the Canadian dollar. The market is looking for progress in the trade minister talks, indirectly supporting the increase in crude oil prices and the Canadian dollar. Technically, the initial target is 1.3225 and 1.3205. But at present, the oil supply and demand situation is not clear, and the crude oil price falls the momentum, proposes the U.S. dollar to Canadian dollar 1.3225 and 1.3205 support, looks above 1.3290 or 1.3310 resistance

US crude oil futures
57.55/58.05 resistance
56.05/55.55 support
Crude oil futures rose after the US President said a trade deal with China would be reached soon. Beyond politics and progress in trade talks, crude oil prices could be bullish. However, the market predicts the U.S. economic data is weak today and tomorrow, crude oil prices will be bearish. The final U.S. Q2 GDP and other data are expected today. Expect weak U.S. Durable goods orders and Michigan consumer confidence data tomorrow, keeping an eye on downside risks to crude oil prices.

Gold
1520/1522 resistance
1505/1503 support
Gold prices fell as the Dow future rebounded on comments from the US President that trade relations were improving. But the UK faces the risk of a Brexit, a slowdown in US economic data today, comments from the European central bank President and downside threats to Dow futures could help bullish gold prices. Technically, the gold price in short-term, important support level US1501; if the trend did not break the support level, the gold price rise is still unchanged. Technical breakthrough US1520 and US1522 resistance range, note any news change investment sentiment, gold price correction risk. More attention to the Dow futures trend and gold price reversal relationship.

U.S. Dow Jones industrial average futures US30
27085/27275 resistance
26830/26690 support
The US President's comments lifted morale ahead of next week's trade talks between the U.S. and China, indirectly lifting sentiment in Dow futures, which rebounded over 100 points last night. The market is looking ahead to next week's minister meeting, anticipating any weak U.S. economic data today and tomorrow, and an opportunity for Dow futures to fall. With crucial U.S. data out, the final reading on Q2 GDP, Durable goods orders and the Michigan consumer confidence index, keep in mind that Dow futures still have downside risks. Look out for 26830 and 26690 support.

BTCUSD:
9550 /10250 resistance
8250 / 7900 support
Technically, US7900 support is significant support. If the bitcoin fails to support, it will test US7000 to US6500 support.

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.

 

[Kelly Yeung]

Personal opinions today:

Last night the real GDP final in the second quarter was in line with expectations, at 2%. Besides, the federal reserve issued a hawkish statement, bullish dollar. The investment sentiment has improved a little, with Dow futures strong and gold falling. Market expectations durable goods orders and the Michigan consumer confidence index weak than last month. Look at the data today. It could calculate next week's degree of non-farm payrolls. U.S. durable goods orders and the Michigan consumer confidence index directly affect the dollar and Dow futures. In European trading, looking at Eurozone data for September were released. Data on the performance of the eurozone economy and inflation expectations can affect the direction of the Euro and other European currencies.

[Important financial data and events]
Note: * is the degree of importance

17:00 Eurozone economic and industrial sentiment *
17:00 Eurozone consumer confidence data *
20:30 US durable goods orders in August **
20:30 US core PCE price index in August **
20:30 Fed governor Charles speaks *
22:00 US Michigan consumer confidence index ***

Today's suggestion:

Euro/dollar
1.0955/1.0970 resistance
1.0900/1.0885 support
The President of the European central bank, Draghi, once again undermined confidence in the Euro with his dovish comments. The Euro came downward after U.S. Q2 real GDP, and other economic data were in line with market expectations. Technical trend, the Euro trend is weak, significant resistance further down to 1.0970. Refer to support bits 1.0900 and 1.0885. Note that a weak U.S. economic report today could become bullish the Euro.

Pound versus dollar
1.2355/1.2380 resistance
1.2295/1.2270 support
The British prime minister is facing impeachment by MPS and is more likely to call a general election, blocking talks with the EU with only a month to go. In the face of these uncertainties, continue to be bearish for pound, the outlook for the UK situation is grim, and the US economic growth, bearish for pound. The pound has a chance to test the 1.22 level. Unless pound recovers its 1.2380 resistance, chances are it will test 1.2420. Note that weak U.S. economic data today could bullish the pound.

Australian dollar to US dollar
0.6775/0.6795 resistance
0.6735/0.6715 support
U.S. Q2 GDP and other economic data are in line with market expectations, and the reserve bank of Australia is expected to limit gains in the Australian and New Zealand dollars ahead of next week's rate hike. A ministerial trade meeting between China and the US is planned for next month to boost investment sentiment and ease the fall in the Australian and New Zealand dollars after comments from the US President sparked a trade war between the two countries. A weak U.S. economic report today could boost the Australian and New Zealand dollars.

Dollar/yen
107.85/108.05 resistance
107.35/107.15 support
U.S. Q2 GDP and other economic data were in line with market expectations, and a meeting of U.S. trade ministers planned for next month's 10th will boost investment sentiment, which could bullish Dow and Nikkei futures and lift the dollar against the yen by 107.85 resistance. If U.S. economic data is weak and the dow rally ends, the dollar-yen could follow. Technical may test 107.35 and 107.15 support.

U.S. dollar versus the Canadian dollar
1.3290/1.3310 resistance
1.3225/1.3205 support
A rebound in crude oil prices, which hit a low of $55.5, helped support the Canadian dollar. The Canadian dollar came under pressure after U.S. economic data came in line with expectations. The market is looking forward to the Oct. 10 US and China trade minister consultation, which indirectly supports the rise in crude oil prices and the Canadian dollar. Technically, the initial target is 1.3225 and 1.3205. But at present, the international oil price situation is not clear, and the crude oil price falls the momentum has not changed, the recommendation USDCAD first looks up 1.3290 or 1.3310 resistance.

US crude oil futures
57.55/58.05 resistance
56.05/55.55 support
Oil futures prices are expected to rise in anticipation of a US and China trade talks soon. Progress in trade talks between China and the United States is expected to boost crude oil prices. If U.S. economic data is weak, crude oil prices will be temporarily negative. Keep an eye on today's U.S. durable goods orders and consumer confidence index, with an eye on crude oil at 55.55 support.

Gold
1511/1513 resistance
1501/1498 support
China and the United States hold trade talks as scheduled, risk aversion cooled, gold prices fell. On the other hand, the release of hawkish comments from the federal reserve, the risk of dollar assets fell, and gold prices came downward. Expect the U.S. economic data today could bullish gold prices. Technically, the gold price important support, $1501 and $1498, respectively, the trend did not break the support level, the gold price rise is still unchanged. Technical breakthrough 1520 and 1522 resistance range, the trend is expected to rise further development. Note the relationship between the direction of Dow futures and the reversal of the gold price.

U.S. Dow Jones industrial average futures US30
27085/27275 resistance
26830/26690 support
China and the United States hold trade talks as scheduled, and the US President's comments also boosted morale, indirectly driving sentiment in Dow futures, which were supported by the low. But there is a chance that Dow futures will fall on weak forecasts for today's U.S. economic data. If U.S. durable goods orders and Michigan consumer confidence index not lower as expected, watch out the Dow futures downside risks, with support for 26830 and 26690.

BTCUSD:
9550 /10250 resistance
8250 / 7900 support
Technically, US7900 support is of significant support. If the bitcoin fails to support, it will test US7000 to US6500 support.

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.

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[Kelly Yeung]

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