Daily Market Analysis from NewForex Broker

Ankor

Active member
170 0
Forex News from New Forex:
The yen rises inspite of weak data

In the trading on Monday the Japanese currency strengthened inspite of the weak data of the economic growth in the last quarter. The rise was only 0.6% which fell short of experts’ expectations who forecast a 0.9% increase.

Lately were issued retail sales data in New Zealand, they picked up 1.7% quarter-on-quarter, exceeding the expectations of analysts who predicted only a 1.3% rise. The currency pair NZD/USD gained 0.34% and is trading at 0.7480, the pair USD/JPY shed 0.05%. AUD/USD edged up to 0.16% to 0.7770.

We remind that today the U.S markets are closed due to the celebration of the President’s Day. If considering the previous week, at the end of it the greenback lost ground against the yen. The main factor was weak data of the consumer sentiment in the USA, in February the index slipped from 98.1 (marked in January) to 93.6. Retail sales in January were weak edging down to 0.8% indicating a dull beginning of the consumer year.

The decreasing data made investors cut down their long positions in the buck before 3-day holidays.
 

Ankor

Active member
170 0
Forex News from New Forex: Gold prices are climbing

Gold prices are rising on Monday as investors are anticipating the meeting of the Europroup which is due to take place today in late afternoon.

Gold futures with April delivery in the morning session gained $7.20 or 0.59% to $1,234.30 a troy ounce. NewForex analyst Sara Rosenstein considers that the possible level of support for futures will be $1,218.00, resistance — $1,245.90. In the trading on Friday the gold prices picked up $6.40 or 0.52% and settled at $1,227.10.

The dollar index, which measures the relation of the U.S dollar to the basket with six other currencies, lost 0.2% to 94.05. A weak dollar is usually an advantage for gold as the force of its attraction as an alternative asset rises and makes dollar-priced commodities cheaper for owners of other currencies.

Silver futures with March delivery jumped 7.9 cents or 0.46% and at the moment of writing the article were at $17.37 a troy ounce.
 

Ankor

Active member
170 0
Forex News from New Forex: The kiwi remains steady against the US dollar

In the trading on Tuesday the NZ dollar advanced against the U.S currency, the greenback remains under pressure due to the recent weak economic data. The currency pair NZD/USD reached 0.7528 in the Asian trading. According to NewForex analyst David Fineberg, the level of support for the pair will be 0.7429 (a low of Monday), the level of resistance — 0.7584 (a high of January 22).

However, the NZ dollar could not resist the Aussie , shedding 0.17%. The pair AUD/NZD at the moment of writing the article was trading at 0.7584. The Reserve Bank of Australia astonished the markets at the beginning of February edging down its initial interest rates to 2.25%. This step was caused by weak economic forecasts.

The Aussie has gained against the buck. The pair AUD/USD picked up 0.35% and is at 0.780, it will probably find support at 0.7691 (a low of February 11th) and resistance at 0.7879 (a high of February 6th). The same growth was marked against the euro, the pair EUR/AUD slipped to 0.35% and stays at 1.4557.
 

Ankor

Active member
170 0
Forex News from New Forex: The European shares decline after disappointing talks with Greece

On Tuesday the European shares are dropping due to the disappointing talks between Greece and the European partners. Athens declined the proposed 6-month bailoit. The collision between Greece and creditors fueled concerns over the possible exit of Greece from Eurozone.

Athens have time for the bailout extension only till February 28th, otherwise the country might face with a financial turmoil. The European indexes immediately reacted by the decline.

The pan-European index FTSEurofirst 300 shed 0.3% and is at 1,497.06. The European banks sustain losses losing on average 1%. In the morning session the index EURO STOXX 50 slipped to 1.45%, the French CAC 40 edged down to 1.38%, the German DAX 30 slumped to 1.40%.

Financial stocks are moving in mixed ways. The French banks BNP Paribas and Societe Generale slid — 1.45% and 1.95%, respectively. Among the British banks Lloyds Banking (- 0.09%) and Royal Bank of Scotland (- 1.33%) are losing ground. In this context the German banks Commerzbank and Deutsche Bank are on the contrary gaining 0.58% and 1.53%.
 

Ankor

Active member
170 0
Forex News from New Forex: The Asian markets closed on the rise

On Wednesday meeting of the Bank of Japan it was decided to keep the bank policy and upgrade the assessment of Japan’s export and factory output. The market responded positively to this decision.

The Japanese index Nikkei closed on a 8-year high, advancing 1.2% and getting to 18,199.17 which is its high since July 2007. The Topix index edged up 1.4% to 1,482.67 which is its high as well since December 2007.

In the Asian trading the pair USD/JPY was trading at 119.15 shedding 0.09%. AUD/USD reached 0.7824 gaining 0.08%. The pair EUR/USD slid 0,05% to 1.1405.

On Wednesday begins the celebration of the Chinese New Year. The markets of the mainland China will be closed till February 25th. In Hong Kong there was a short trading session before a 2-day holiday. The Hang Seng index advanced 0.2% to 24,784.88, the China Enterprises Index climbed 0.5% to 11,998.51.

Among the most active stocks in Hong Kong it is worth noting Cypress Jade (+3,4%), China Best (+18.1%). The total trading volume of companies included into the HSI index takes up 0.8 billion shares.
 

Ankor

Active member
170 0
Forex News from New Forex: The review of Asian indexes

In the trading on Tuesday the Nikkei index reached a 15-year high after the weakening of the yen. Investors are in the anticipation of U.S Federal Reserve Chair speech Janet Yellen.

The Nikkei index jumped 0.7% to 18,603.48 which is its high since 2000. Topix edged up 0.4% to 1,508.28, JPX-Nikkei Index 400 climbed 0.3% to 13,680.93.

Indexes in Hong Kong stock market moved in mixed ways. The Hang Seng shed 0.4% to 24,750.07. China Enterprises, which includes the stocks of the leading Chinese companies in Hong Kong, surged 0.04% to 12,046.20.

Among the stocks of companies which were actively traded it is worth mentioning Air China(+4%), China Southern Airlines Company (+2.1%).

The mainland markets in China are closed from February 18th and will be open this Wednesday after New Year holidays. Hong Kong stock market opened trades this Monday.
 

Ankor

Active member
170 0
Forex News from New Forex: The U.S dollar shows positive dynamics

The dollar index surged 0.24% to 94.90 against the basket of six major currencies in the trading on Tuesday, February 24th. The markets are in the anticipation of the speech of the US Federal Reserve Chair. The currency pair EUR/USD shed 0.24% from 1.1333 to 1.1307.

The greenback firmed against the yen, the pair USD/JPY picked up 0.61% to 119.53. In the trading the pair GBP/USD slid to 1.5446. The Bank of England supports the pound, the representative of the bank Martin Weale stated that the central bank might raise the interest rate in the nearest time. The NZ dolllar edged down to 0.94% against its American rival, the pair was trading at 0.7453. The Aussie slumped to 0.59%, the pair AUD/USD is at 0.7756.

The loonie turned out to be weaker than the buck, the pair USD/CAD jumped 0.52% to 1.2638. NewForex analyst Joseph Schwartz highlights that it happened due to the weak economic data from Canada and the likelihood of the interest rate decrease by the central bank of the country.
 

Ankor

Active member
170 0
Forex News from New Forex: The pound hit a 2-month high against the greenback

In the trading on Wednesday, February 25th, the British pound rose to a 2-month high against the buck. The increasing number of approved mortgages in the UK contributed to it. According to the British Bankers’ Association, in Janury 2015 the number of approved mortgages jumped to 36,400, although analysts expected a slightly lower number — 36,200.

In the morning European tradings the currency pair GBP/USD reached 1.5539. NewForex analyst Joseph Schwartz considers that the possible level of support might be 1.5401, resistance — 1.5586.

Meanwhile, the U.S currency is under pressure after the speech of the U.S Federal Reserve Chair. It became obvious that there is no reason to wait for the increase of the interest rate in the nearest possible time.

The pound keeps steady against the euro, the pair EUR/GBP is at 0.7332. The approval of the Greek package of economic reforms by the European creditors supplied suppport to the single currency.
 

Ankor

Active member
170 0
Forex News from New Forex: Asian shares are rising

On Thursday, February 26th, the Nikkei hit a new 15-year high. Hedge funds were actively buying the futures, the index-heavyweight stocks are on the uptick. The member of NewForex team, analyst Sara Rosenstein, states that the appetite for risk among investors has increased after the speech of the U.S Federal Reserve Chair

. At the end of the trading session the Nikkei advanced 1.1% to 8,785.79, which is its high since April 2000. The Topix picked up 0.9% and is trading at 1,521.68, JPX-Nikkei Index 400 climbed 0.9% to 13,791.15.

The indexes of Hong Kong stock market closed on the rise as well. The Hang Seng index surged 0.5% to 24,902.06, the China Enterprises index edged up to 12,227.75 (+1,4%).

Among the most actively traded shares it’s worth noting Industrial and Commercial Bank of China (+0.9%), China Construction Bank (+1.1%) and Bank Of China (+1.1%). The trading volume of companies which are in the HSI index rose in contrast with the previous trading session to 1,9 billion shares.
 

Ankor

Active member
170 0
Forex News from New Forex: The yen fortifies its positions

On Friday, February 27th, the Japanese yen consolidated its position. Higher than expected industrial output data assisted to the rise. But the level of unemployment, consumer prices and retail sales didn’t live up the expectations of experts.

The industrial output in January picked up 4.0%, which exceeds the forecast at 2.7%. Retail sales shed 2.0%. The CPI (Consumer Price Index) increased by 2.2% but it’s less than it was expected — 2.3%. The level of unemployment in January rose to 3.6% although market experts predicted a 3.4% rise.

Positive data about the industrial output in Japan contributed to the rise of Japanese indexes. The Nikkei gained 0.1% and reached 18,797.94. During the week it climbed 2.5%, during the month the rise was 6.4% which is a high since November 2014. The Topix jumped 0,1% to 1,523.85, about 2,72 billion shares changed hands. The JPX-Nikkei Index 400 edged up 0,3% to 13,826.67.

The yen gained ground against the greenback, the currency pair USD/JPY slipped to 0.14% and stopped at 119.26.
 

Ankor

Active member
170 0
Forex News from New Forex: Gold on the threshold of the U.S GDP

On the threshold of the U.S GDP in the fourth quarter gold prices have slightly changed. Gold futures with the delivery in April are at $1,210.30. NewForex analyst Luigi Campo considers that a possible level of support will be at $1,190.50, resistance — at $1,219.80.

On Thursday the U.S Department of Labour provided information according to which the number of initial jobless benefits has risen by 31,000 to 313,000 last week. Consumer prices dropped by 0.7% in January but core consumer prices, which include food and energy costs, jumped 0.2%, although only a 0.1% rise was expected.

Gold prices have consolidated after the meeting of the U.S Federal Reserve where Janet Yellen claimed that at this moment there are no economic rationales for the interest rate increase.

As for other metals silver has lost 0.11% to $16.608 a troy ounce. Copper futures with the delivery in May lost ground and shed 0.14% to $2.687 a pound.
 

Ankor

Active member
170 0
Forex News from New Forex: The dollar opened the market with a decline

In the trading on Tuesday the buck streamed back after its 3-week high against the yen. The pair USD/JPY shed 0.39% to 119.68. The euro still holds low positions against the American currency.

The yen gained ground after the claim of Etsuro Honda, an economic adviser of the Japanese prime-minister. He considers that it’s necessary to put the introduction of extra measures for monetary easing on hold. According to Etsuro Honda, the current level of the currency pair dollar/yen is probably at the top of their «comfort zone».

The yen has gained a bit against the euro, the pair EUR/JPY slipped to 0.22% and is at 134.07. The euro has slightly climbed against the dollar on Tuesday, the pair EUR/USD picked up 0.15% to 1.1199. NewForex analyst Luigi Campo assumes that the upbeat data about the retail sales in Germany lent support to the euro, in January sales increased by 2.9%. But the opportunity for the euro growth was restricted as investors are expecting the meeting of the ECB on Thursday.

The dollar index, which measures the position of the U.S currency to the basket of six major currencies, lost 0.23% to 95.30.
 

Ankor

Active member
170 0
Forex News from New Forex: The pound gains ground against the U.S dollar

In the trading on Tuesday the pound gained ground against the greenback. The growth was supported by positive data in the construction sector.

The U.K. construction purchasing managers’ index surged in February to 60.1, in January it was at 59.1. The economists expected a decline to 59,0.

On Monday the buck rose after the upbeat data about the construction sector. Today the pair GBP/USD reached 1.5398 in the morning session in Europe which is its intraday high. Later the pair consolidated at 1.5371. A possible level of support for GBP/USD is 1.5328, resistance — 1.5460.

The pound strengthened against the euro, the pair EUR/GBP edged down to 0.11% to 0.7272.
 

Ankor

Active member
170 0
Forex News from New Forex: The review of currencies in the Asian market

In the trading on Wednesday the Aussie gained ground after positive data of the gross domestic product in the fourth quarter. The GDP of Australia edged up 0.5% as it was expected making in total 2.5% per annum.

In the Asian market the pair AUD/USD was traded at 0.7820 picking up 0.05%. USD/JPY changed its direction and reached 119.58 shedding 0.13%.

Overnight the greenback fell against the basket of major currencies. The markets overrated the dollar although there were not any significant economic reports during the day. The dollar index stopped at 95.40, which is 0.05% lower that in the previous session.

The U.S currency gained ground against the euro. The pair EUR/USD hit a 5-year low at 1.1163. The euro is still under the pressure as investors are in the anticipation of the coming ECB meeting on Thursday where as it is expected the details of the quantitative easing program, which starts in March, will be announced. The pair EUR/JPY is at 133.77.
 

Ankor

Active member
170 0
Forex News from New Forex: The European shares move in mixed ways

On Wednesday the European shares are moving in mixed ways as investors are in the expectation of the ECB meeting which will take place on Thursday.

The pan-European Euro Stoxx 600 Index keeps flat during the week. The recent economic data shows that the economic activity in Eurozone is expanding but with a slightly slower pace than it was expected. According to the latest report, the purchasing managers’ index (PMI) in February reached 53.3 a bit lower than the forecast.

The FTSE 100 index lost 23.07 points and is at 6866.25. The German DAX lost 42.71 points (-0.38%) and is at 11236.39. The French CAC 40 gained 0.51 (+0.01%) and is at 4869.74.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock