ATFX Market Updates 2020

Kelly Yeung

ATFX.com Representative
Messages
800
For more analysis check out, please click the below link:

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.com Representative
Messages
800
ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Jan 9


Personal opinions today:

Risk aversion cooled and U.S. ADP job data beat market expectations at 202K. The dollar was supported by forecasts tonight that U.S. jobless claims fell and non-farm payrolls rose. In addition, the U.S. and China would sign a first-phase deal this month. Investment sentiment rose, risk aversion cooled and money flowed out of gold and the yen.

During the European session, markets looked at Germany's November trade and current account and German industrial output. Then, the Bank of England governor speech and the Eurozone released. The European data and Bank of England governor speech time, the European currency is expected to fluctuate. During the U.S. market session, the market was waiting to see if the U.S. jobless claims.

British Parliament Brexit vote tonight. The pound has a chance to rise as the Brexit deal to pass. If Brexit approved, the gold could fall, crude oil could upward.

[Important financial data and events] note: * is important

09:30 China CPI ***
15:00 Germany Trade account and Current account ***
15:00 German Industrial output **
15:30 Swiss Retail sales **
17:30 Bank of England governor speech **
18:00 Eurozone unemployment rate ***
21:00 Federal reserve vice-chairman Larry speech **
21:30 U.S. jobless claims ***
To be confirmed: The British House of Commons vote on the Brexit deal ***
The next day02:45: Bank of Canada governor speech ***


EURUSD
1.1155/1.1165 resistance
1.1105/1.1095 support
European currencies could gain support as tensions ease over Iran. But the Euro fell after the dollar rose last night after the U.S. reported better-than-expected ADP job data for December. Today, markets are focusing on Germany's November trade and current account and industrial output. There were also concerns about a vote in the British House of Commons on the Brexit deal bill. If the above-mentioned data beat expectations and passes a bill to Brexit, it could bullish the Euro. It is now estimated that Euro tests 1.1105 and 1.1095 support.

Pound to dollar
1.3185/1.3205 resistance
1.3080/1.3060 support
As Iran tensions over, markets look forward to a vote in the house of Commons on the Brexit deal bill tonight or tomorrow morning. If successful, the UK investment climate is expected to improve, the pound has a chance to rise. Technical analysis, the 1.3282 is significant resistance, short-term support look at 1.3080 and 1.3060, resistance 1.3185 and 1.3205.

Australian dollar to dollar
0.6890/0.6900 resistance
0.6860/0.6850 support
Although the RBA has mentioned it will cut interest rates at its February meeting, interest rate futures show a chance of a rate cut of more than 60% in June, a bearish for the Australian dollar. But the Australian dollar after a significant adjustment, believe to be close to the point of support. The Australian and New Zealand dollars are expected to rebound after the U.S. and China sign a trade deal together this month that could bullish the Australian economy and lower expectations of a rate cut.

Dollar to yen
109.50/109.60 resistance
108.55/108.45 support
Risk aversion cooled and global stock markets rebounded, pushing the USDJPY to break through the 109 barriers. Technically, Dow and Nikkei futures continue to rise, and the dollar will follow suit, USDJPY testing highs. But the mood in the Middle East changes from time to time, and stock markets can adjust from time to time.

USDCAD
1.3055/1.3065 resistance
1.2970/1.2960 support
Crude Oil prices fell as tensions eased and supplies avoided disruption. On top of that, the U.S. dollar rose against the Canadian dollar in anticipation of U.S. jobs data. Markets are focused on U.S. initial jobless claims tonight and a speech by Bank of Canada governor. Technically, USDCAD could test 1.3055 and 1.3065 resistance.

US crude oil futures
61.65/63.15 resistance
59.20/58.80 support
Crude oil prices fell as tensions in the Middle East eased and supplies were expected to stabilize. If times stay tight and risk aversion rises, crude could test another $65. The advice must be cautious, pay attention to crude oil price volatility.

Gold
1575/1577 resistance
1555/1553 support
Gold prices fell as events in the Middle East changed. U.S. jobs data beat market expectations and Dow futures rebounded, sending gold and silver prices lower. For now, we suggest keeping an eye on the situation, as well as the Brexit vote, and waiting for the outcome. If there is any movement in Dow futures and Nikkei index futures, you can refer to it and capture the movement in the price of gold.

U.S. Dow Jones industrial average futures US30
28930/29125 resistance
28630/28555 support
Dow futures rebounded as tensions eased in the Middle East and U.S. jobs data beat expectations. This month, China and the United States signed the first phase of a trade deal. On top of that, the market expects corporate earnings to grow, and dow futures are expected to keep rising if negative sentiment doesn't recur. Now, keep an eye on the dow futures correction for tomorrow's non-farm payrolls data.

BTCUSD:
8250 / 8500 resistance
7550 / 7300 support
Dow futures rebounded as tensions eased in the Middle East and U.S. jobs data beat expectations, bearish the bitcoin price. Investors expected U.S. non-farm payroll good, the bitcoin downward.

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

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

ATFX.com Representative
Messages
800
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.com Representative
Messages
800
In the early hours of Wednesday the 8th of January 2020, the Pentagon confirmed the attacks targeting two American bases on Iraqi soil with fifteen ballistic missiles launched from Iranian territory. According to US military sources, via ABC news networks, ten of these missiles targeted Ain Al-Assad base in Western Iraq – the largest US military base in the country, one missile targeted Erbil base on the Northern side, and four missiles failed to reach their targets. While Iraqi sources reported a number of 22 missiles launched from the Iranian soils, with no causalities reported.

The Iranian attack comes in response to the killing of the Quds Force Commander of the Iranian Revolutionary Guards, in an American drawn strike at dawn last Friday. Following the missile strikes, several Iranian statements warned the US from taking any response, which would lead to an All-out war in the region.

The US reports denied any losses in the ranks of the American forces, but hasn’t denied equipment losses. As from Tehran’s side, the reports claimed that the strike had hit the specified targets claiming the lives of 80 US soldiers.

The markets have responded rapidly, the gold recorded an increase of around 37$ per ounce as an immediate response to the dangerous development of events, as it rose from the levels of 1574 to 1611.50, an increase of about 2.3%.

bl5805_1_2.png


As for oil, the US light crude prices rose to the levels of 65.61$, a direct translation to the markets fear of supply shortages due to the escalating events in the Middle East; a vital zone to energy markets.

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While Brent crude recorded increases to the levels of 71.26 $, it is noticeable that oil prices rebalanced those quick gains after the lukewarm US statements. This reduction can be explained as well following the statements of the Minister of Energy in the United Arab Emirates, in which he assured that an urgent meeting of OPEC and its partners is not needed, and that OPEC is ready to deal with any new developments to maintain oil supplies and price stability.

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Until now, the markets are analyzing the scene as mere skirmishes between the two parties, and that the missile strike is just a limited reaction from the Iranian side to “avenge” the death of their influential military man. Until this moment, this interpretation is reinforced by the calm American reaction. Even the US President did not set up an urgent press conference to comment on the event. This might indicate that the American administration prefer to manage the situation calmly, contrary to what was expected from the US President, especially according to his previous tweets which avowed that the United States will respond strongly and rapidly to any reaction from the Iranian side on American Targets. A promise that was not fulfilled, at least not up until now.

Information provided by ATFX (AE) Head of Market Research: Ramy Abouzaid

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

Kelly Yeung

ATFX.com Representative
Messages
800
ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Jan 10


Personal opinions today:

U.S. December ADP job change beat market expectations to 202K. Tonight, the U.S. labor department will release December Non-farm payroll. The dollar was supported by market expectations that non-farm payrolls will continue to grow. European currencies and commodity currencies fell. Commodity prices, gold, silver, and crude oil were adjusted ahead of U.S. non-farm payroll. On the stock market, investors expected U.S. jobs number growth and market forecasts for U.S. corporate earnings growth in the Q4. Dow futures continued to rise, with Asian stock markets also rising in Asia trading today.

The dollar index, Dow futures, and the world stock index rose ahead of the December non-farm payrolls report. Gold, silver and oil prices adjusted. After the non-farm payrolls data, the above-mentioned investment product price trend may reverse.

[Important financial data and events] note: * is important

14:45 Swiss December unemployment rate **
15:45 French industrial output in November **
21:30 U.S. non-farm payrolls for December ***
22:00 EU foreign ministers hold emergency meeting **
23:00 U.S. November wholesale sales **


EURUSD
1.1145/1.1155 resistance
1.1090/1.1080 support
The Euro continued to fall as the dollar rose after the U.S. December ADP job data growth over market expectation. Today, the market focus on the United States non-farm payroll and EU foreign ministers held an emergency meeting. It is now estimated that the Euro may continue to test 1.1105 and 1.1095 support. Due to the fluctuation of U.S. non-farm payroll data, it is recommended to reserve the lower support level of 1.1080. If dollar gains adjust, the euro against the dollar try 1.1145 or 1.1155 resistance.

Pound to dollar
1.3185/1.3205 resistance
1.3045/1.3350 support
The U.K. is expected to leave the European Union in an orderly fashion by the end of the month, giving the pound a chance to rally if the climate for British investment improves. In the short term, markets are focused on the U.S. non-farm payrolls data tonight, indirectly affecting the pound. Market expectations for the U.S. ADP in December were similar to the non-farm payrolls data, the dollar index's rise began to be priced in, and the pound is likely to move higher. Technical analysis, GBPUSD is significant resistance at 1.3282, short-term support look at 1.3045 and 1.3035, resistance 1.3185 and 1.3205.

Australian dollar to dollar
0.6890/0.6900 resistance
0.6850/0.6840 support
U.S. ADP job number change growth and expect U.S. nonfarm payrolls to reach that level tonight. The Australian dollar is believed to be close to the point of support after a sharp correction following December's U.S. ADP job data. The Australian and New Zealand dollars are expected to rebound early next week as a smooth trade deal between the United States and China is expected to boost expectations for the Australian economy and lower expectations for a rate cut by the RBA.

Dollar to yen
109.70/109.80 resistance
109.15/109.05 support
Risk aversion cooled, global stock markets rebounded, driving the dollar higher against the yen. If equity markets continue to rise, the dollar could test 109.80 yen. Technically, the dollar has been limiting the $110 barrier against the yen for the past six months. If the challenge fails again today, watch for a reversal and test the 108 level. The dollar could fall against the yen if equity markets correct. Keep an eye on Dow futures and the Nikkei to capture the direction of dollar-yen trading.

USDCAD
1.3090/1.3100 resistance
1.3025/1.3015 support
Oil prices fall as geopolitical turmoil subsides. Additional, the U.S. jobs data is expected to increase, the dollar rose, indirectly bearish Canadian dollar. Markets are focused on U.S. non-farm data tonight and believe the market has already priced in U.S. ADP growth, the U.S. dollar's rise could slow and the U.S. dollar/Canadian dollar could pull back from 1.3025 and 1.3015 resistance.

US crude oil futures
61.65/62.15 resistance
59.20/58.80 support
Political tensions ease, crude oil prices adjust. Short-term risk aversion is expected to continue, with oil testing $62 or above. The advice must be cautious, pay attention to crude oil price volatility.

Gold
1570/1572 resistance
1540/1538 support
The situation in the Middle East has calmed down, US job number growth, and gold prices have adjusted to high levels. For now, with no other risk events, U.S. jobs data could beat market expectations. Dow futures rose, sending money out of gold and silver. For now, it is recommended to keep an eye on the situation, if there is any movement in Dow futures and Nikkei index futures, you can refer to the trend and catch the movement of gold price.

U.S. Dow Jones industrial average futures US30
29125/29195 resistance
28735/28645 support
Dow futures continued to rise on expectations of better business results and investor confidence as the U.S. - Iran relations eased, U.S. job data predicted growth, China and the United States signed a first-phase trade deal next week. If no negative sentiment, Dow futures are expected to continue their upward trend. But the market is likely to take advantage of the U.S. non-farm payroll data to position itself before and after the release of the data, with investors watching for a correction in Dow futures, the extent of the Dow futures correction as a result of the U.S. non-farm payrolls data. Currently, refer to 28735 and 28645 support.

BTCUSD:
8250 / 8500 resistance
7550 / 7300 support
Dow futures rebounded as tensions eased in the Middle East and U.S. jobs data beat expectations, bearish the bitcoin price. Investors expected U.S. non-farm payroll good, the bitcoin downward.

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

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

ATFX.com Representative
Messages
800
For more analysis check out, please click the below link:

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.com Representative
Messages
800
ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Jan 13


Personal opinions today:

U.S. December non-farm payrolls and average wages were below market expectations, but the unemployment rate was unchanged. In addition, the United States sanctions on Iran are also concerned that local tensions will affect the investment climate in global financial markets, more likely to see a rise in risk aversion. Pay attention to these factors, may be bad for the dollar, bearish for the stock market. If the situation escalates, the money will flow into gold and yen. If something happens, causing crude oil is a shortage, the price of crude oil has the opportunity to rise.

In the European session today, keep an eye on UK and Eurozone data, which currencies are likely to volatile.

[Important financial data and events] note: * is important

Tokyo stock exchange will be closed
17:00 Italy November retail sales *
17:30 UK industrial and manufacturing output November **
17:30 UK November merchandise trade account ***
18:00 Eurozone ZEW economic sentiment index **


EURUSD
1.1145/1.1155 resistance
1.1090/1.1080 support
U.S. December non-farm data fell short of market expectations, while the dollar fell and the Euro gained. The market is watching European data today, if the data beat expectations, bullish Euro. Depending on the data, the Euro rose. Technically, the 1.1145 or 1.1155 resistance level may limit the Euro. On the contrary, the data performance is weak, the Euro rise.

Pound to dollar
1.3085/1.3095 resistance
1.3015/1.3005 support
Brexit target deadline at the end of this month and the lack of confidence in the market's economic outlook makes it more likely that Ireland will split from Britain. The governor of the Bank of England said current economic and political conditions did not warrant a rate rise. Above factor, bearish pound. Short-term factors, Brent oil prices fell, is also bearish for the pound. In the European session, the UK released key economic data. The pound fluctuates depending on economic data. Technical analysis, 1.3100 is significant short-term resistance for the GBPUSD, support level note 1.3005.

Australian dollar to dollar
0.6935/0.6945 resistance
0.6880/0.6870 support
On Wednesday, the United States and China will sign a trade deal and are expected to increase trade cooperation between the two countries, indirectly boosting the Australian economy and lowering expectations for a rate cut by the reserve bank of Australia. It could bullish Australian and New Zealand dollars are now expected. Technically, the AUDUSD first resistance is 0.6935 and 0.6945. Expect the New Zealand dollar to have an opportunity to follow the Australian dollar.

Dollar to yen
109.70/109.80 resistance
109.45/109.35 support
The Tokyo stock exchange was closed for the Japan holiday. But risk aversion cooled, global stocks rebounded and Asian stocks rose, driving the dollar higher against the yen. If equity markets continue to rise, the dollar could test 109.80 yen. Technically, the dollar has been limiting the $110 barrier against the yen for the past six months. The dollar could fall against the yen if equity markets correction. Suggest keeping an eye on Dow futures performance to capture the dollar-yen trading direction.

USDCAD
1.3090/1.3100 resistance
1.3025/1.3015 support
Crude oil prices fell, bearish Canadian dollar. Crude oil prices are expected to settle after a correction in the U.S. dollar and the Canadian dollar last week. If crude oil prices rise, USDCAD could pull back 1.3025 and 1.3015 support.

US crude oil futures
60.65/61.15 resistance
58.80/58.65 support
With political tensions in Middle East easing and crude oil prices adjusted, short-term risk aversion is expected to continue for some time. Also, increased demand for seasonal crude oil is expected to test $62 or higher.

Gold
1570/1572 resistance
1545/1543 support
Middle East tensions have calmed for a while, but U.S. job growth fell short of market expectations and gold was bullish. At present, the political situation in the Middle East is not stable, and risk events reappear at any time. If found Dow futures fall, a capital fund could flow into gold and silver, let the prices could rise again. For now, the advice is to keep an eye on the situation, watch Dow futures for any moves, and catch gold prices moving.

U.S. Dow Jones industrial average futures US30
29125/29195 resistance
28775/28645 support
On Wednesday, China and the United States signed the first phase of a trade agreement, which increases the investor’s climate. In addition, Dow futures are expected to continue to rise on expectations for U.S. corporate earnings growth. If negative sentiment does not recur, Dow futures are expected to continue their upward trend. Technically, Dow futures reference support is 28775 and 28645, respectively. Significant support 28553.

BTCUSD:
8250 / 8500 resistance
7550 / 7300 support
Dow futures fell cause of Middle East tensions eased and U.S. jobs data under expectations, bullish the bitcoin price. Technically, US8250 and US8500 as significant resistance

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

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

ATFX.com Representative
Messages
800
bl5936_en_12.jpg


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

ATFX.com Representative
Messages
800
ATFX-A Global Leader in Online Trading
ATFX Market Outlook, 2020 Jan 14

Personal opinions today:


Japan today reported a trade deficit for November of 2.5 billion yen. Also, the Dow rebounded to close at a high, with the Nikkei following Dow futures higher and safe-haven money flowing out of the yen. Two factors led the Asian open today, the dollar-yen through the 110 barriers. Risk aversion cooled and money flowed out of the gold market. Gold prices fell earlier in Asia, breaking through support before $1,540.

Among European currencies, the pound was weaker. The move comes after the governor of the Bank of England president said earlier that BoE would not consider raising interest rates for some time to come. Bank of England officials said the same thing last night. In addition, industrial production and manufacturing in the United Kingdom fell sharply in November, and the merchandise trade account deficit was bearish for the pound. The pound fell as investors pared back their holdings as markets waited to see if the Brexit at the end of this month would resolve key issues related to its policy.

Markets will watch the release of the U.S. consumer price index for December tonight, limiting the dollar's performance. The dollar was weak as non-farm payrolls and average wages in the United States fell in December and the market calculated that U.S. consumer prices fell in December. But if December's consumer price index is in line with market expectations for a 0.2% gain or better, the dollar index is expected to rise. If U.S. consumer prices do well, that's good for U.S. stocks. If the Dow rises, gold falls, indirectly bearish for silver. Recently, the price of crude oil continued its downward trend, falling to $58. The market is watching the economic performance of countries, and will also care about the release of the U.S. crude oil inventory change tomorrow morning. If inventories fall, crude oil prices are expected to rebound.

[Important financial data and events] note: * is important

07:50 Japan November trade account
10:50 China December trade account ***
19:00 U.S. December NFIB small business confidence index **
21:30 U.S. December consumer price index ***
22:00 Fed Williams moderates discussion **
The next day 01:00 EIA releases monthly energy outlook **
The next day 05:30 U.S. API crude oil stocks last week ***

Euro

1.1145/1.1155 resistance
1.1090/1.1080 support
The dollar fell on expectations of a drop in the Euro as markets awaited the results of U.S. consumer price data for December overnight. The market is waiting for the results of the data, if the expectations, the dollar rebound, bearish Euro. Technically, 1.1145 or 1.1155 are important resistance levels that may limit the amplitude. In contrast, U.S. data were weak and the Euro could test a 1.1155 resistance. Otherwise, Euro adjustment.

Pound to dollar
1.3035/1.3045 resistance
1.2955/1.2945 support
The Bank of England president has said it has no intention of raising interest rates after weak UK economic data in November. The pound is expected to be trading at a temporary low ahead of tomorrow's consumer price index and retail sales data. If the U.S. consumer price index is weak they release tonight, the pound could bullish. On the other hand, if U.S. crude oil inventories decline and Brent oil prices rise, it could benefit the pound. It is recommended to keep an eye on the results of the above data to catch the trend of the pound.

Australian dollar
0.6935/0.6945 resistance
0.6880/0.6870 support
China's trade representative went to the United States is preparing to sign a trade phase agreement between the United States and China tomorrow, indirectly bullish the Australian economy and lowering expectations of a rate cut by the reserve bank of Australia. In addition, China and the United States strengthen close ties and cooperation, the news boosted the basic industrial metal prices, the bullish Australian dollar. Technically, the AUDUSD first target resistance is 0.6935 and 0.6945. Expect the New Zealand dollar to have an opportunity to follow the Australian dollar.

Dollar to yen
110.20/110.30 resistance
109.75/109.65 support
Equity markets continued to rise, with the Dow and Nikkei rising and the dollar breaking through the 110 marks against the yen. Technically, the dollar has been holding off the $110 barrier against the yen for the past six months. But outside of technical analysis, the dollar could fall against the yen if U.S. economic data is weak and Dow futures adjust. Suggest keeping an eye on Dow futures to capture the dollar-yen trading direction.

USDCAD

1.3090/1.3100 resistance
1.3025/1.3015 support
Crude oil prices fell, bearish Canadian dollar. Crude oil prices are expected to settle after last week's correction against the Canadian dollar. If U.S. crude inventories decline and oil prices rise, the USDCAD could pull back to 1.3025 and 1.3015 support.

US crude oil futures
59.65/60.15 resistance
57.80/57.65 support
With political tensions easing and crude oil prices adjusted, short-term risk aversion is expected to continue for some time. The market is watching the U.S. economic data and crude oil inventory change data. Please pay attention to crude oil price volatility.

Gold
1560/1562 resistance
1533/1530 support
Tension in the Middle East cooled, coupled with a rise in investment sentiment, has seen money flowing into stocks. Dow futures rebounded, Asian and European stocks rose and money flowed out of gold and silver. For now, it is recommended to keep an eye on the Dow futures to capture gold and silver prices movement. Technically, the gold price, $1,530, is important support. If you break the support, it could test $1515 or $1505, respectively.

U.S. Dow Jones industrial average futures US30
29075/29155 resistance
28775/28645 support
China and the United States to sign the first phase of trade agreement time is approaching, positive market sentiment, driving the Dow rose. Also, Dow futures rose on expectations for U.S. corporate earnings growth. If any negative sentiment does not recur, Dow futures are expected to remain bullish. However, the key now is to see if the second phase of trade negotiations can be held shortly after the first phase of the trade agreement is concluded tomorrow. If more than a month, investment climate cooling, the Dow may adjust. Technically, the reference support levels are 28775 and 28645, respectively, when Dow futures fall further. Keep watching the important support at 28553.

BTCUSD:
8500 / 8700 resistance
7550 / 7300 support
The Middle East tensions and U.S. jobs data under expectations, US CPI now is predicated lower, bullish the bitcoin price. Technically, the bitcoin price testing US8500 which is one of the significant resistance.

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

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

ATFX.com Representative
Messages
800
For more analysis check out, please click the below link:

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.
 
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