Daily Market Analysis by FxGrow

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Old Jun 16, 2015, 11:04am   #17
 
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FxGrow Support started this thread Daily Market Analysis – 16th June, 2015
By FxGrow Research & Analysis Team

RBA expects Australian Dollar to Drop Further

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Reserve Bank of Australia released the minutes from its June monthly meeting. RBA stated "It was appropriate to leave the cash rate unchanged and to assess information on economic and financial conditions as it become available".

"A lower exchange rate would have an immediate beneficial effect on some sectors such as tourism. It would need to be lower for a sustained period to have a significant effect on large investment decisions in other trade-exposed sectors" - Reserve Bank of Australia.

“The board’s assessment was that the stance of monetary policy should be accommodative. Output growth had continued at a below-trend pace over the past year and would remain a little below trend in the period ahead before picking up to around trend in the latter part of 2016" - Reserve Bank of Australia.

"The current level of the exchange rate, particularly on a trade-weighted basis, continued to offer less assistance than would normally be expected in achieving balanced growth in the economy. A further depreciation therefore seemed both likely and necessary, particularly given the significant declines in commodity prices over the past year" - Reserve Bank of Australia.

AUDUSD is trading lower in the European trading session at 0.7728 following the release of the RBA minutes.

In Greece there is no visible progress in the bailout negotiations with its European partners. Risks of a Greek default and a possible exit from the Euro are running high.

If Greece is unable to reach a deal with its European creditors it could become bankrupt and leave the Eurozone. Major concern for Banks in Greece is that deposit outflows are gathering pace with another €400 million being withdrawn yesterday.

Failing to keep Greece in the Euro after years of negotiations and emergency bailouts of €240bn could mark a blow to the official currency of the 19 member nations.

In Germany Consumer Price Inflation rose to 0.1% last month according to a report released from the Federal Statistical Office.

Switzerland's Producer and Import prices declined 6% YoY basis in May according to the Federal Statistical Office. Swiss retail sales rebounded to a growth of 1.6% in April, after a fall of 2.4% in the previous month.

Crude Oil is down to $60.06 on concerns over global supplies.

Gold is trading steady in the Europe at 1182.64 while Silver is weak at 16.02

16th June 2015 – 09:46hrs GMT

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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Old Jun 17, 2015, 7:56am   #18
 
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FxGrow Support started this thread Daily Technical Analysis – 17th June, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD remained indecisive yesterday as it touched a high of 1.1327 and a low of 1.1210 and then consolidated towards the end of the trading session. Now it is trading just above its 20day moving average of 1.1245 in the Asian trading session. The near term bias remains Neutral but overall scenario remains bearish.

RSI (14), STOCHRSI (14), MACD (12, 26), CCI (14), Ultimate Oscillator are Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 1.1213 while Resistance is at 1.1288

17th June 2015 – 06:15hrs GMT


GBPUSD

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GBPUSD touched a low of 1.5544 yesterday but then it continued its Bullish trend and remained firm towards the end of the trading session. Now the pair is trading just above its 20day moving average of 1.5639 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 1.5700

ADX (14), CCI (14) are Neutral; RSI (14), MACD (12, 26), ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.5597 while Resistance is at 1.5653

17th June 2015 – 06:22hrs GMT

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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Old Jun 17, 2015, 7:59am   #19
 
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FxGrow Support started this thread Daily Technical Analysis – 17th June, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD remained bearish yesterday and touched a low of 0.7722 and corrected higher towards the end of the trading session. Now the pair is trading below its 20day moving average of 0.7742 in the Asian trading session. The near term bias remains Bearish with targets of 0.7650

STOCH (9, 6), RSI (14), ADX (14), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 0.7712 while Resistance is at 0.7760

17th June 2015 – 06:27hrs GMT


USDJPY

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USDJPY remained indecisive yesterday touching a high of 123.80 and a low of 123.33 towards the end of the trading session. Now it is trading above its 20day moving average of 123.43 in the Asian trading session. The near term bias remains Neutral to Bullish with targets of 124.00

RSI (14), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC, MA100 indicate a BUY; STOCH (9, 6) is Neutral; while Average True Range (14) indicates Less Volatility.
Support is at 123.32 while Resistance is at 123.75

17th June 2015 – 06:33hrs GMT

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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Old Jun 17, 2015, 10:08am   #20
 
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FxGrow Support started this thread Daily Market Analysis – 17th June, 2015
By FxGrow Research & Analysis Team

Global Investors await FOMC rate decision

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Globally investors are awaiting the outcome of the Federal Open Market Committee's two day meeting at 18:00hrs GMT which is expected to create high volatility in the markets.

Analysts expect that Federal Reserve policy makers will raise interest rates in September this year. Market is pricing in a 67% probability of the Fed hiking rates before its December policy meeting.

“We expect Fed Chairwoman Janet Yellen to make it clear that the first rate hike is not far off” - Ian Shepherdson, Pantheon Macroeconomics.

“They think the economy is doing fine, and the majority on the Fed now favors starting rate hikes soon and going slowly" - James Glassman, J.P. Morgan Chase.

The FOMC is unlikely to change policy in its June meeting, but the statement and comments by Fed Chairwoman Janet Yellen in the news conference will be very important.

“This market has been and still is a Fed-driven market and it is fan of clear guidance. If Janet Yellen hints whether the Fed will raise in September or December it would be ultimately good for the markets, even though the very short-term reaction will almost certainly be negative” - Michael Antonelli, R.W Baird & Co.

“The Fed has to start normalizing rates, but there is never a perfect time to do it. The market will adjust to the rate hike cycle if it accepts that the economy is growing and that the Fed will indeed be “gradual” as it moves towards higher rate” - Quincy Krosby, Prudential Financial.

Greece is running out of time to secure bailout funds and avoid a possible default. The Greek government must reach a deal with its European creditors soon or risk an exit from the Eurozone.

The probability of a Greek default is at 75% to 80% according to market strategists, with the chances that Greece will secure a last minute deal are at 50%.

In Germany Investor confidence declined for the month of June. The ZEW Economic Sentiment Index dropped to 31.5 amid concerns over the Greek debt default.

In UK Inflation turned positive for the month of May. UK inflation edged higher 0.2%, according to the Office for National Statistics.

In Japan trade deficit increased in May, while imports declined. Trade deficit was 216.0 billion yen in May, while Imports declined by 8.7% to 5.956 trillion yen.

In New Zealand current account deficit decreased to NZ$1.8 billion in the first quarter of 2015.

Crude Oil is trading higher at $61.11 mainly driven by the huge decline in US crude stockpile.

Gold is trading lower in the Europe at 1178.92 ahead of the FOMC statement, while Silver is weak at 15.97

17th June 2015 – 08:54hrs GMT

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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Old Jun 18, 2015, 8:41am   #21
 
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FxGrow Support started this thread Daily Technical Analysis – 18th June, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD had a strong bullish trend yesterday and crossed the 1.1350 level. Now it is trading just above its 20day moving average of 1.1319 and touched a high of 1.1371 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.1400

RSI (14), STOCH (9, 6), MACD (12, 26), ROC, MA100, MA200 indicate a BUY; ADX (14), CCI (14) are Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 1.1269 while Resistance is at 1.1374

18th June 2015 – 06:48hrs GMT


GBPUSD

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GBPUSD continued its Bullish trend and crossed 1.5800 yesterday. Now the pair is trading above its 20day moving average of 1.5796 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.5860

RSI (14), STOCH (9, 6), MACD (12, 26), ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Oversold; CCI (14) is Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 1.5700 while Resistance is at 1.5850

18th June 2015 – 06:55hrs GMT

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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Old Jun 18, 2015, 8:44am   #22
 
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FxGrow Support started this thread Daily Technical Analysis – 18th June, 2015
By FxGrow Research & Analysis Team

AUDUSD

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AUDUSD had a Bullish trend yesterday and crossed the 0.7750 level. Now the pair is trading above its 20day moving average of 0.7735 in the European trading session. The near term bias remains Neutral to Bullish with targets of 0.7800

RSI (14), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 0.7721 while Resistance is at 0.7760

18th June 2015 – 06:59hrs GMT


USDJPY

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USDJPY had a bearish trend yesterday and touched a low of 123.20 in the US trading session. Now it is trading below its 20day moving average of 123.58 in the European trading session. The near term bias remains Bearish with targets of 122.50

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a SELL; while Average True Range (14) indicates High Volatility.

Support is at 122.85 while Resistance is at 124.43

18th June 2015 – 07:06hrs GMT

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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Old Jun 18, 2015, 10:27am   #23
 
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FxGrow Support started this thread Daily Market Analysis – 18th June, 2015
By FxGrow Research & Analysis Team

FOMC Minutes reflect a Dovish tone

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The Federal Reserve on Wednesday kept its benchmark interest rate near zero, as it believes improving US economic growth is likely to warrant one or two interest rate increases before the end of the year.

"Information received since the Federal Open Market Committee met in April suggests that economic activity has been expanding moderately after having changed little during the first quarter" - FOMC.

"To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate" - FOMC.

"In determining how long to maintain this target range, the Committee will assess progress - both realized and expected - toward its objectives of maximum employment and 2 percent inflation" - FOMC.

Majority of Fed officials are willing to raise interest rates this year, according to a survey released by the central bank. Fed is on track to hike interest rates this year.

"We have to put in place a policy that is appropriate to evolving conditions in the U.S. economy but we can’t promise that there will not be volatility when we make a decision to raise rates" - Federal Reserve Chairwoman Janet Yellen.

"The timing of a first decision to raise rates is something that should not be overblown whether it is September or December or March, what matters is the entire path of rates, and as I have said the committee anticipates economic conditions that would call for a gradual evolution of the Fed funds rate towards normalization" - Federal Reserve Chairwoman Janet Yellen.

USD Dollar was weak against its major counterparts after the FOMC minutes signaled a gradual hike path with the EURUSD crossing 1.1350 yesterday and 1.1400 in the European trading session today.

Euro group is meeting in Luxembourg today and Greece has a last chance to secure a deal before the end of this month. Since Greek officials have refused to submit any new proposals hopes for a solution to the Greek debt deal are low.

Greek PM Alexis Tsipras is travelling to Russia to meet Vladimir Putin for some weekend talks.

"Failure to reach an agreement would... mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country's exit from the euro area and, most likely, from the European Union" - The Bank of Greece.

Meanwhile Germany is making contingency plans for Greece to leave the euro as it believes that Greece and its creditors would reach agreement on the release of new bail-out funds.

In New Zealand economy slowed in the Q1 of 2015. The nation’s economy grew at 0.2% the lowest quarterly growth rate since 2 years. Following the news NZDUSD slipped to a 5 year low of 0.6881 in the European trading session today.

Crude Oil is trading lower at $61.06 mainly driven by a weak US Dollar as Fed left its benchmark interest rate unchanged.

Gold is trading higher in the Europe at 1196.44, while Silver is strong at 16.30

18th June 2015 – 09:01hrs GMT

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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Old Jun 19, 2015, 8:40am   #24
 
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FxGrow Support started this thread Daily Technical Analysis – 19th June, 2015
By FxGrow Research & Analysis Team

EURUSD

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EURUSD was higher yesterday and touched a high of 1.1435 but came down towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.1376 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.1280

RSI (14), STOCH (9, 6), ADX (14), Ultimate Oscillator, ROC, indicate a SELL; STOCHRSI (14), CCI (14) are Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.1329 while Resistance is at 1.1391

19th June 2015 – 06:41hrs GMT


GBPUSD

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GBPUSD has a Bullish trend yesterday and touched a high of 1.5929 but then it came down towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5883 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.5800

RSI (14), STOCH (9, 6) are Neutral; ADX (14), CCI (14), Williams %R, ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.5814 while Resistance is at 1.5929

19th June 2015 – 06:49hrs GMT

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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