InvestMacro

By Admiral Markets

Source: Economic Events 02 August 2019 – Admiral Markets’ Forex Calendar

After the FED rate decision on Wednesday, the USDJPY took a short try to recapture 109.00.

After FED chairman Jay Powell characterised the 0.25% expected rate cut as a mid-cycle adjustment and signalled that markets shouldn’t expect a series of rate cuts now, markets started to price out three further rate cuts by December.

As a result, the USDJPY went back above 109.00, but was pushed significantly lower in the afternoon after disappointing ISM Manufacturing data. Trump then gave the currency pair the kiss of death by announcing 10% new tariffs on Chinese goods from September.

The most likely reason for Trump doing this: the FED rate cut can be considered as an anticipation of a global economic downturn. A downturn which could be triggered by a further trade war escalation between the US and China. And after Trump tweeted his disappointment about the FED rate decision on Wednesday, the new tariff announcement is intended to give Trump what he wants to get from FED: rate cuts, cheap money and fuel for further all time highs in US Equities – no matter what.

That said, into the weekly close the region round 106.80 comes into our focus in USDJPY, and a break lower activates the region around the current yearly lows around 105.00, while only sustainably recapturing 109.00 would brighten the technical picture.

Source: Admiral Markets MT5 with MT5SE Add-on USDJPY Daily chart (between 26 April 2018 to 02 August 2019). Accessed: 01 August 2019 at 10:00 PM GMT

Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of USDJPY increased by 13.7%, in 2015, it increased by 0.5%, in 2016 it fell by 2.8%, in 2017 it fell by 3.6%, in 2018 it fell by 2.7%, meaning that after five years, it was up by 4.1%.

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Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

1. This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
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3. Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter “Author”) based on the Author’s personal estimations.
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By Admiral Markets

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.10757
• Open: 1.10804
• % chg. over the last day: +0.03
• Day’s range: 1.10697– 1.10965
• 52 wk range: 1.1034 – 1.1817

The EUR/USD currency pair stabilized after a long fall. At the moment, the trading instrument is consolidating in the range of 1.10600-1.10950. In the near future, a technical correction is highly possible. Participants in financial markets took a wait and see attitude before the publication of the US labor market report for July. These statistics can have a significant impact on the further rate of adjustment of the monetary policy of the Fed. We recommend that you pay attention to the difference between the actual and forecast values of the indicators. Positions need to be opened from key support and resistance levels.

At 15:30 (GMT+3:00), the investors will evaluate labor statistics from the United States for July.

Indicators of accurate signals do not give: the price crossed 50 MA.

The MACD histogram is near the 0 mark.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the correction of the EUR/USD currency pair.

Trading recommendations

• Support levels: 1.10600, 1.10250, 1.10000
• Resistance levels: 1.10950, 1.11200, 1.11600

If the price fixes above 1.10950, expect further correction toward 1.11400-1.11600.

Alternatively, the price can descend toward 1.10250-1.10000.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.21512
• Open: 1.21199
• % chg. over the last day: -0.29
• Day’s range: 1.20903 – 1.21447
• 52 wk range: 1.2080 – 1.3385

Yesterday, the Bank of England, as expected, kept its key interest rate unchanged at 0.75%. The regulator is concerned about the hard Brexit scenario. The central bank also worsened the forecast for UK GDP growth for 2019-2020. At the moment, the GBP/USD currency pair is in lateral movement. The trading tool tests the key support and resistance levels: 1.20800 and 1.21600, respectively. Investors are expecting a report on the US labor market. We recommend opening positions from key levels.

At 11:30 (GMT + 3: 00), the index of business activity in the UK construction sector will be published.

The price fixed below 50 MA and 100 MA, which signals the strength of sellers.

The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.20800, 1.20200
• Resistance levels: 1.21600, 1.22500, 1.23000

If the price consolidates below 1.20800, expect a further drop toward 1.20500-1.20200.

Alternatively, the price could recover toward 1.22000-1.22300.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.31891
• Open: 1.32122
• % chg. over the last day: +0.15
• Day’s range: 1.32050 – 1.32247
• 52 wk range: 1.2727 – 1.3664

An ambiguous technical picture has developed on the USD/CAD currency pair. CAD is trading in a flat. At the moment, the following key support and resistance levels can be distinguished: 1.32000 and 1.32400, respectively. The collapse of oil prices puts pressure on the Canadian dollar. Trading instrument has the potential for further growth. We recommend that you pay attention to the report on the US labor market. Positions must be opened from key levels.

The Economic News Feed for 02.08.2019:

• – Trading balance (CAD) – 15:30 (GMT+3:00);

Indicators indicate the strength of buyers: the price has fixed above 50 MA and 100 MA.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy USD/CAD.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.32000, 1.31800, 1.31500
• Resistance levels: 1.32400, 1.32800, 1.33000

If the price consolidates above 1.32400, expect growth toward 1.32800-1.33000.

Alternatively, the price could drop toward 1.31700-1.31500.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.747
• Open: 107.334
• % chg. over the last day: -1.21
• Day’s range: 106.850 – 107.567
• 52 wk range: 104.97 – 114.56

USD/JPY is characterized by aggressive sales. The trading tool has updated the extremes. The demand for safe assets grew after Donald Trump announced his intentions to introduce new 10% fees on the imported wares from China. Right now the quotes are consolidating around 106.850-107.200. Focus on the US labour market report and open positions from the key levels.

The Economic News Feed for 02.08.2019 is calm.

Indicators signal the strength of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone, which also indicates a bearish sentiment.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a possible correction of USD/JPY quotes.

Trading recommendations

• Support levels: 106.850, 106.500
• Resistance levels: 107.200, 107.500, 107.800

If the price consolidates below 106.850, expect a further drop toward 106.500-106.200.

Alternatively, the price could correct toward 107.500-107.800.

by JustForex

By TheTechnicalTraders.com

On July 31, 2019, the US Federal Reserve decreased the Federal Funds Rate (FFR) by 25 basis points.  We believe the US Fed was pushed to take this action for three reasons that are directly related to the fear and greed that is abundant in the global markets.

Reason #1 Fed Had To Cut Rates

First, the US Fed is very concerned that the US housing market has stagnated and weakened over the past 16+ months.  The Fed has pushed the FFR towards our modeling system’s upper boundary (2.0 to 2.25) many months ago and this has pushed the housing market over a supply/demand precipice that may already be too far gone for a substantial recovery.  The US Fed, attempting to prevent another housing market collapse, must attempt to ease lending in an attempt to spark new real estate activity.

Reason #2 Fed Had To Cut Rates

Second, the US Fed must attempt to ease the foreign market US Dollar carry trade liabilities and attempt to allow more US Dollar opportunity in the foreign economy.  Over the past 2 to 3+ years, the supply of US Dollars within the foreign markets has diminished considerably while demand has increased.  Because of this, a US Dollar shortage currently exists in much of the global economy.  The US Fed is attempting to allow more US Dollar supply by lowering the FFR.

Reason #3 Fed Had To Cut Rates

Lastly, the US Fed, attempting to accommodate a more adaptable rates policy in order to more adequately facilitate the global economic turmoil that is persistent throughout the world.  Even though the US economy is still very strong and showing only mild signs of weakness currently, the US Fed felt the need to become more accommodating to allow more flexibility for global central banks to navigate through the current trade and geopolitical issues.

Dollar Hits Resistance And Should Reverse Down

Metals reacted by moving lower as the US Dollar rallied after the Fed announcement.  The US Dollar is currently near the upper price channel that we believe will prompt a weaker US Dollar over the next few weeks and will likely prompt a move lower over the next few weeks – allowing metals the ability to skyrocket higher over this same span of time.

Gold Set To Rock Higher

Gold is reacting to the US Dollar/Fed news by rotating within the black line and magenta arc levels that we highlighted weeks ago.  These Fibonacci Price Amplitude Arcs highlight key price levels that are acting as resistance for Gold right now.  Once price breaks these levels, Gold will skyrocket above $1550 and likely target $1650 or higher.

Silver Ready To Rally

As we’ve highlighted several times, Silver is likely the best trading opportunity set up on the planet right now.  We’ve highlighted where we are currently (“We Are Here”) and where we believe the price will move to in the future on this chart.  Using our Fibonacci Price Amplitude Arc levels and Fibonacci price ranges, we can “guess” where price may target in the future and where peaks and valleys may form.  We believe silver is setting up for a move to levels above $21~$22 right now and will begin this move higher within the next 2 to 5 weeks.

Even though the US Fed is attempt to act as a savior for the global central banks and attempting to easy US monetary policy while the global markets attempt to address their political and economic issues, we believe the US economy is uniquely strong in relation to other global economies and we believe the fear/greed factors will continue to increase over the next 15+ months or longer.

Gold and Silver are setting up to become some of the best trades we’ve seen in a very long time for us, technical traders.  We believe Silver could rally well above $30 over a very short period of time.  Don’t worry about the rotation in the metals markets as a reaction to the US Fed.  The real news is that the US Dollar has reached the upper price channel limit which should prompt a bigger upside move in the US metals.

CRUCIAL WARNING SIGNS ABOUT GOLD, SILVER, MINERS, AND S&P 500

In early June I posted a detailed video explaining in showing the bottoming formation and gold and where to spot the breakout level, I also talked about crude oil reaching it upside target after a double bottom, and I called short term top in the SP 500 index. This was one of my premarket videos for members it gives you a good taste of what you can expect each and every morning before the Opening Bell. Watch Video Here.

I then posted a detailed report talking about where the next bull and bear markets are and how to identify them. This report focused mainly on the SP 500 index and the gold miners index. My charts compared the 2008 market top and bear market along with the 2019 market prices today. See Comparison Charts Here.

On June 26^th I posted that silver was likely to pause for a week or two before it took another run up on June 26. This played out perfectly as well and silver is now head up to our first key price target of $17. See Silver Price Cycle and Analysis.

More recently on July 16^th, I warned that the next financial crisis (bear market) was scary close, possibly just a couple weeks away. The charts I posted will make you really start to worry. See Scary Bear Market Setup Charts.

CONCLUDING THOUGHTS:

In short, you should be starting to get a feel of where each commodity and asset class is headed for the next 8+ months. The next step is knowing when and what to buy and sell as these turning points take place, and this is the hard part. If you want someone to guide you through the next 12-24 months complete with detailed market analysis and trade alerts (entry, targets and exit price levels) join my ETF Trading Newsletter.

Be prepared for these incredible price swings before they happen and learn how you can identify and trade these fantastic trading opportunities in 2019, 2020, and beyond with our  Wealth Building & Global Financial Reset Newsletter.  You won’t want to miss this big move, folks.  As you can see from our research, everything has been setting up for this move for many months.

Join me with a 1 or 2-year subscription to lock in the lowest rate possible and ride my coattails as I navigate these financial market and build wealth while others lose nearly everything they own during the next financial crisis.

As a technical analysis and trader since 1997, I have been through a few bull/bear market cycles. I believe I have a good pulse on the market and timing key turning points for both short-term swing trading and long-term investment capital. The opportunities starting to present themselves will be life-changing if handled properly.

FREE GOLD OR SILVER WITH MEMBERSHIP!

Kill two birds with one stone and subscribe for two years to get your FREE PRECIOUS METAL and get enough trades to profit through the next metals bull market and financial crisis!

Chris Vermeulen – TheTechnicalTraders.com

by JustForex

The US dollar is declining against the basket of major currencies. The US President, Donald Trump, violated a truce with China and announced the introduction of 10% tariffs on the remaining $300 billion of Chinese imports starting September 1. Trump emphasized that the new tariffs would include goods that had not yet been affected by tariffs. Also, according to the US President, 25% tariffs on $250 billion worth of Chinese goods are still in effect. As Trump said, in the future, tariffs could be raised even above 25%, depending on the progress of negotiations with Chinese President Xi Jinping. The decision by the US President has shocked financial markets. The US dollar index (#DX) closed in the negative zone (-0.22%). At the moment, financial market participants expect labor statistics from the US for July. We recommend paying attention to the difference between actual and forecasted values of the indicators.

China met the US decision with hostility. Chinese Foreign Minister, Wang Yi, believes that such a decision by Donald Trump regarding Chinese goods will become an obstacle in overcoming trade frictions between the two countries. As a result, the Chinese yuan has reached its lows since November 2018.

The British pound continues to decline. Yesterday, the Bank of England decided on the interest rate and left it unchanged at 0.75%, as experts expected. Optimistic data from the UK were also published yesterday. Thus, UK manufacturing PMI counted to 48.0 in July and was better than the expected value of 47.7. However, the British pound is under pressure due to the uncertainty concerning Brexit. Oncoming Brexit is increasingly putting pressure on the country’s economy.

The “black gold” prices are recovering after the collapse the day before. Currently, futures for the WTI crude oil are testing the $54.80 mark per barrel.

Market Indicators

Yesterday, there were aggressive sales in the US stock markets: #SPY (-0.87%), #DIA (-1.03%), #QQQ (-0.50%).

The 10-year US government bonds yield has updated lows for the first time in 2.5 years. At the moment, the indicator is at the level of 1.83-1.84%.

– UK construction PMI at 11:30 (GMT+3:00);
– US labor market data at 15:30 (GMT+3:00).

by JustForex

By Alpari.com

By Alpari.com

By George Prior

President Trump is angry and financial markets are disappointed with the Federal Reserve’s statement on interest rates yesterday – but the Fed Chairman made the right call, affirms the boss of one of the world’s largest independent financial advisory organizations.

The comments from Nigel Green, founder and CEO of deVere Group, comes as markets have been rocked at Chairman Jay Powell’s suggestion that the U.S. central bank’s first rate cut in a decade does not necessarily mean it will be followed up with an aggressive rate-cutting program.

Donald Trump lashed out at the Fed’s decision via Twitter.

Mr Green notes: “The markets have been left reeling by the hawkish approach taken by Powell as they had largely priced-in two more rate cuts this year based on previous signals by the Fed.

“Powell appeared to brush off concerns of a serious downturn within the next 18 months that the inverted yield curve is suggesting. But it’s a tough call for Powell, when recent economic data has been fairly decent.

“Do they conduct their monetary policy based on economic data, or what the bond market bullies them into?

“It seems to be an unpopular view, but I believe the Chair made the right call in the current climate.”

“The markets want central bankers to give a clear forward path for rates, not nuanced, complex messages. But they should not necessarily expect this to happen.”

He continues: “As they often do, the markets have given a knee-jerk reaction to something they were not expecting. But if you read between the lines, the Chair’s statement is, in fact, fundamentally more dovish than the markets have so far recognised.

“I believe once this sinks in, it will be acknowledged accordingly by the markets.”

The deVere CEO concludes: “The Fed is dismissing angry calls by the President and has ignored market expectations, thus far. Whatever happens in this current climate, those investors with a multi-asset, long-horizon approach are best positioned to reap the benefits and sidestep the risks.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6846; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6885 and then resume moving downwards to reach 0.6750. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be cancelled if the price breaks the cloud’s upside border and fixes above 0.6975. In this case, the pair may continue growing towards 0.7085.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6554; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6565 and then resume moving downwards to reach 0.6450. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the cloud’s upside border and fixes above 0.6610. In this case, the pair may continue growing towards 0.6685.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3209; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3170 and then resume moving upwards to reach 1.3295. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be cancelled if the price breaks the cloud’s downside border and fixes below 1.3095. In this case, the pair may continue falling towards 1.3015.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.11545
• Open: 1.10757
• % chg. over the last day: -0.75
• Day’s range: 1.10337– 1.10805
• 52 wk range: 1.1034 – 1.1817

Yesterday, the USD significantly strengthened against a basket of world currencies. EUR/USD quotes fell by more than 100 points and updated key extremes. The Fed, as expected, lowered its key interest rate range by 25 basis points to 2.00-2.25%. This event has already been priced. At the same time, the head of the Central Bank, Jerome Powell, said that lowering the base interest rate is not the beginning of easing the monetary policy. Additional support for the US dollar was provided by positive statistics on the labor market published by ADP. Currently, the EUR/USD currency pair is consolidating in the range of 1.10350-1.10800. You should open positions from key levels.

The Economic News Feed for 01.08.2019:

• – Manufacturing PMI (GER) – 10:55 (GMT+3:00);
• – Initial Jobless Claims (US) – 15:30 (GMT+3:00);
• – Manufacturing PMI by ISM (US) – 17:00 (GMT+3:00);

Indicators point to the strength of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell EUR/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the correction of the EUR/USD currency pair.

Trading recommendations

• Support levels: 1.10350, 1.10000
• Resistance levels: 1.10800, 1.11150, 1.11600

If the price consolidates below 1.10350, expect a further drop toward 1.10000.

Alternatively, the quotes can correct toward 1.11100-1.11300.

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.21472
• Open: 1.21512
• % chg. over the last day: +0.02
• Day’s range: 1.21009 – 1.21614
• 52 wk range: 1.2101 – 1.3385

GBP/USD is still dominated by bearish sentiment. The hard Brexit scenario continues to put pressure on pound. Demand for the USD grew after comments by the head of the Fed. At the moment, GBP/USD quotes are consolidating in the range 1.21000-1.21600. Participants in financial markets expect a meeting of the Bank of England. Experts predict that the regulator will leave the basic parameters of monetary policy unchanged. We recommend that you pay attention to the comments of representatives of the Central Bank. Positions must be opened from key levels.

The Economic News Feed for 01.08.2019:

• – Manufacturing PMI (UK) – 11:30 (GMT+3:00);
• – Key Interest Rate announcement (UK) – 14:00 (GMT+3:00);

Indicators signal the strength of sellers: the price has fixed below 50 MA and 100 MA.

The MACD histogram is in the negative zone and below the signal line, which gives a strong signal to sell GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.21000, 1.20500
• Resistance levels: 1.21600, 1.22500, 1.23000

If the price consolidates below 1.21000, expect a further descend toward 1.20600-1.20400.

Alternatively, the price could recover toward 1.22200-1.22500.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.31507
• Open: 1.31891
• % chg. over the last day: +0.36
• Day’s range: 1.31822 – 1.32187
• 52 wk range: 1.2727 – 1.3664

The USD/CAD has moved up again. The trading tool has updated the key extremes. The demand for the USD rose after the Fed meeting. CAD is currently testing a local resistance of 1.32200. 1.31850 is already a “mirror” support. USD/CAD quotes have the potential for further growth. Today we recommend to pay attention to economic reports from the USA. Positions must be opened from key levels.

The Economic News Feed for 01.08.2019 is calm.

Indicators point to the strength of buyers: the price has fixed above 100 MA.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy USD/CAD.

The Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations

• Support levels: 1.31850, 1.31500, 1.31200
• Resistance levels: 1.32200, 1.32500

If the price consolidates above 1.32200, expect further growth toward 1.32500-1.32700.

Alternatively, the price can drop toward 1.31700-1.31500.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 108.612
• Open: 108.747
• % chg. over the last day: +0.19
• Day’s range: 108.699 – 109.318
• 52 wk range: 104.97 – 114.56

On the USD/JPY currency pair, bullish sentiment prevails. During yesterday’s and today’s trading, the growth of quotations exceeded 60 points. The trading tool found resistance at 109.300. Mark 108.900 is already a “mirror” support. Greenback demand remains high after the Fed meeting. The USD/JPY currency pair has the potential for further growth. Today we recommend paying attention to statistics from the United States. Positions must be opened from key levels.

The Economic News Feed for 01.08.2019 is calm.

Indicators point to the strength of buyers: the price has fixed above 100 MA.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points to the correction of USD/JPY quotes.

Trading recommendations

• Support levels: 108.900, 108.450, 108.250
• Resistance levels: 109.300, 109.500

If the price consolidates above 109.300, expect further growth of the USD/JPY to 109.500-109.800.

Alternatively, the price could decrease toward 108.600-108.450.

by JustForex

by JustForex

The US dollar strengthened significantly against a basket of major currencies after the Fed meeting. Yesterday, the US regulator lowered the interest rate by 0.25 percentage points to 2.00-2.25% for the first time in 10 years. At the same time, Fed Chairman, Jerome Powell, announced at a press conference after the Fed meeting that he did not expect a long series of rate cuts. In addition, the regulator ended the program of “quantitative tightening” two months earlier than planned. The US dollar index (#DX) closed in the positive zone (+0.55%).

Optimistic economic data from the US supported the American currency. Thus, ADP nonfarm employment change increased by 156K in July, although investors forecasted growth by 150K.

Some reports on the economies of the Eurozone and Canada were also published yesterday. So, the unemployment rate in Germany counted to 1K in July, while experts expected 2K. The Eurozone consumer price index rose by 1.1% in July, which met the forecasts. Eurozone GDP (y/y) rose by 1.1% instead of 1.0%. Canada’s GDP (m/m) grew by 0.2% in May, while experts expected 0.1%.

The “black gold” prices have moved away from local highs. Currently, futures for the WTI crude oil are testing the $57.85 mark per barrel.

Market Indicators

Yesterday, aggressive sales were observed in the US stock markets: #SPY (-1.09%), #DIA (-1.25%), #QQQ (-1.38%).

The 10-year US government bonds yield is at the level of 2.02-2.03%.

– German manufacturing PMI at 10:55 (GMT+3:00);
– UK manufacturing PMI at 11:30 (GMT+3:00);
– Bank of England inflation report at 14:00 (GMT+3:00);
– Bank of England interest rate decision at 14:00 (GMT+3:00);
– ISM manufacturing PMI at 17:00 (GMT+3:00).

by JustForex