NewForex — Forex news (daily)

[Anna Mon]

Forex News from NewForex: Fundamental analysis of American currency

 

Today the most significant economic news affecting the Forex market quotes, is publishing of data on the real estate sale in the primary market of the United States. If positive statistics are released, it will mean the readiness of citizens to spend considerable sums to purchase of the real estate, which proves their confidence in economic situation. This year new build sales increased by 31% and verged to 654.000 houses a year. This is a good indicator. It is possible to estimate in such conditions both the growth of incomes, and the GDP increase in the United States. NewForex analysts believe that this fact will push the Fed to increase interest rates in the current year. Most likely it will happen after the presidential elections at the meeting on December 14. Taking into account that financial markets consider not only the facts but also rumors and expectations, we can assume that the decision on the intermediate-term selling of EUR/USD can be made today. The data on actual sales result of houses will be published in the afternoon. According to our forecast, we will see the better statistics than expected. Considering this, we advise to sell the pair EUR/USD.

 

 

NewForex Analyst

 

Joseph Schwartz

[Anna Mon]

Forex News from NewForex: fundamental news from US

 

The FOMC meeting in September will be held less than in a month. Next week the market will get a large block of macroeconomic statistics that can considerably affect expectations about the next actions of the regulator. First of all, two interesting events are expected next week: the publication of U.S. GDP data for the second quarter and the speech of Federal Reserve Chair Janet Yellen at the annual symposium in Jackson Hole. Investors should be careful, because the attention on Yellen’s speech may cause increase in the volatility of the market.

 

 

NewForex Analyst

 

David Fineberg

[Anna Mon]

Forex News from NewForex: Negative data on the British currency

 

NewForex analysts suggest to enter today into a short position on GBP/USD. First, there is a reason to expect good data on the private consumption expenditures in the US in July. This index has a strong impact on the currency market. It will strengthen the American currency, which will decrease the dollar in its turn. Second, the credit markets give us a clear signal on the decline. The fact that the yield of the UK ten years government bonds tumbles against its counterparts in the United States.This increases the demand for the American currency. And this fact leads GBP/USD to decrease.

 

 

NewForex Analyst

 

Michael Butnitsky

[Anna Mon]

Forex News from NewForex: Oil shortage on world markets is not observed

 

Oil traded positively during the Asian session. However, it is too early to say about a trend change. According to news agencies, the U.S. oil reserves gained last week again. According to Platts inquiry, the growth of oil reserves to 0.6 million barrels in the market is expected. Iraq increases production, but Saudi Arabia actually denied previous statements on the freezing of production. Perhaps the problem is in the position of Iran, which carefully insists that partners in OPEC should respect the aspiration of Teheran to regain market share. It should be noted that the previous agreements between the government of Nigeria and rebels, at the moment are observed. This gives a reason to consider the growth of crude oil exports from the country. Libya also shows a positive progress in the regulation of internal differences, which also provides an opportunity to stabilize the process of unlocking the marine terminals. The stoppage of these objects was one of the main reasons for the decline of daily oil production in the country. All these factors indicate that the potential for prices growth is not observed yet.

 

 

NewForex Analyst

 

Joseph Schwartz

[Anna Mon]

Forex News from NewForex: Fundamental analysis of canadian currency

 

Canada's economy was in a difficult situation up to the present time. Regular decrease of quarterly GDP, led eventually to worse indicators over the last 7 years. The disruptions in production and export of oil as a result of the forest fires were the reason of this. Although this year the analysts admit a renewal of the situation. Over the past year, GDP edged down to 1.6%. This rate was higher than the market expectations. But economists were pleased with data published on Wednesday. It indicated that since June the economy resumed growth. (+0.6% for the second quarter). The Bank of Canada expects a continuation of growth in GDP in the third quarter. All of this can be considered as a positive aspect for the Canadian dollar and its strengthening can be expected.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Market is waiting for the employment data from the United States

 

Today the attention of all the players in the Forex market will focus on the release of employment data from the United States. Representatives from Bloomberg announce the growth in the number of jobs to 175 000 in August. On this basis, the unemployment rate in the States will reach 4.8%, which is 0.1% less than in the last month. Likely range of published data is from 125000 to 220,000 jobs. Recall that in July the number of new jobs reached the level of 255000. Proceeding from the forecast and considering the upcoming news, one can make a decision of entering a trade.

 

 

NewForex Analyst

 

Luigi Campo

[Anna Mon]

Forex News from NewForex: OPEC made a new oil production record

 

In August, the volume of OPEC crude oil production rose by 40 thousand barrels compared to the past month. This is the highest rate of growth in recent months. Overall oil production by OPEC countries during the reporting period amounted to 33.5 million barrels per day. Production increased in Iraq, Kuwait, Saudi Arabia and the UAE. Official data from OPEC on the volume of produced oil will be published on 12 September. If demand does not rise along with the increase of production, then we will see a reduction in the cost of oil on world markets. It turns out that the talking about a termination of production volumes increase do not have any sense.It is unlikely that countries will come to agreement. Although it is possible that they did not set themselves such a task. Given these facts, NewForex analysts can predict a decline in the cost of crude oil in the medium term.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from NewForex: Fundamental analysis of the American currency

 

The us dollar is still trying to strengthen. The dollar updated today the minimum around 1.1138 in pair with the European currency, as the effect of negative news from the U.S. Department of labor comes to naught. Last Friday data on the number of jobs created in the United States was released. For August, this number amounted to 151 thousand, although around 180 were expected. At the same time, the growth rate of the average wage decreased from 0.3 to 0.1%. This reduced the probability of rate hike in the United States. These factors conduce to the strengthening of the US dollar, and at the same time, to the decline of the pair EUR/USD.

 

 

NewForex Analyst

 

Aaron Kaufmann

[Anna Mon]

Forex News from New Forex: The market is waiting for data from Germany

 

Today an important report on the results of the ZEW research in Germany will be published. It is important to remember that if index value is higher than expected it should be taken as bullish for the EUR, while a lower than expected should be taken as bearish for the EUR. The expected value of the index is 1.8.

 

As we remember previous ZEW data from Germany showed the size of the fall in German economic sentiment in July. It fell more than expected to −6.8.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Market participants are waiting for the EIA report about oil resources

 

Market participants are expecting important weekly EIA report about oil resources in the United States. These data can greatly affect the price of the american currency. Today in the expectation of this report oil prices are rising after sharp fall yesterday.

 

Future meeting of the OPEC in Algiers in late September will also have a big effect on the price of oil. OPEC members plan to revisit the restriction of oil production. At the previous meeting they were unable to make this decision because of the refusal of Saudi Arabia to sign an agreement without Iran’s participation.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: The Australian labour market is weakened

 

The Australian Bureau of statistics has published a report on employment in Australia for last month. According to the report the rate of change of employment in August decreased. The labor market remains weak. This is an indication that the economic situation in the country is getting worse.

 

Against to positive expectations the number of employed decreased on 3.900 to 11.963.700. At the same time the number of economically active population in Australia in August decreased by 0.2% to 64.7%.

 

Published low rate could generate a bear market for the AUD. Given these data NewForex analysts consider that we should expect that in the future the Reserve Bank of Australia will lower interest rates and Australian dollar will be weakened.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Market participants await US data

 

Today a report about the size of the base consumer price index in the US in August will be published. This is the main way to measure changes in purchasing trends and inflation in the country. As we remember the basic consumer price index in July rose only 0.1% which was below the expected increase of 0.2%. Yet again there is the expected level of 0.2%.However, as we have seen in last month forecast can not be confirmed. As the dollar is in an unstable state these data will affect the currency price. The data above the expected will form a positive direction for the USD and disappointing data will create a negative market for USD.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: US oil reserves have declined

 

Data published yesterday by EIA about oil resources in the United States did not confirm the expectations. These data showed a decrease of 6.2 million barrels of oil from the previous month. While its growth by 3.2 million barrels of oil was expected.

 

The market participants attention is drawn to future meeting of the OPEC in Algiers in late September. This meeting will also have a big effect on the price of oil. OPEC members plan to revisit the restriction of oil production. At the previous meeting they were unable to make this decision because of the refusal of Saudi Arabia to sign an agreement without Iran’s participation.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Gold prices have decreased

 

Today the prices of gold have decreased after strengthening of the US dollar. On Wednesday there was a gold price hike after the fed’s decision to leave interest rates unchanged and the forecast for a less aggressive interest rate hike for the next two years. The dollar was under pressure after this data.

 

However, on Thursday came out strong statistics on the US labor market. For a week the number of applications for unemployment benefit in USA decreased on 8 thousand. While the growth was expected on 2 thousand. After these data, the dollar began to rise. This had a negative effect on the price of gold.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Oil prices rose

 

On Monday, 26 September, oil prices rose taking into consideration the growing expectations of the outcome of the meeting in Algeria. The weakening dollar also supported oil prices. So oil has recovered after sharp fall on Friday. This morning futures for oil of mark WTI rose in price by 0,74% and Brent by 0.73%.

 

On this week in Algeria will be held meeting of the OPEC. This meeting will also have a big effect on the price of oil. OPEC members plan to revisit the restriction of oil production. At the previous meeting they were unable to make this decision because of the refusal of Saudi Arabia to sign an agreement without Iran’s participation.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Market participants wait for US data

 

Today market participants are waiting for important reports from the United States. Data about U.S. CB Consumer Confidence in the current month will be published. Analysts expect the indicator to fall to a value of 99.0. In August it stood at 101,1 points. The index reflects the perception by Americans of the current economic conditions and the associated expectations.

 

The results of the debates had a positive impact on the dollar. Hillary Clinton performed better than Donald Trump.Investors interested in the victory of Hillary Clinton. Therefore, they are closely watching what is happening. The next debate will be held on 9 October.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Oil prices fell

 

Today, on September 28, during the trading session, oil prices declined. Futures on oil WTI have fallen in price to $ 44.66 per barrel. This is happening because of growing expectations of the results of the OPEC members meeting which will take place today. Yesterday the representatives of Saudi Arabia and Iran announced that the negotiations will be only a consultation not a decision.

 

The decline in oil prices was also affected by yesterday’s data from the American petroleum Institute. According to these reports crude oil inventories in the U.S. fell by 750 thousand barrels last week. Today market participants are also waiting for important news. In the second half of the day the data on oil reserves from the U.S. Department of energy will be published.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Oil prices are falling during trading on Thursday

 

Today, on September 29, during the trading session oil prices are falling as market participants questioned the decision of OPEC to limit oil production.Yesterday after the most anticipated meeting of the month the ministers announced the decision to restrict oil production from November of this year. According to preliminary data, the production will not be above the level of 32.50 million barrels of oil per day.

 

Additionally the U.S. Department of energy published yesterday a report on the decline of commercial oil stocks by 1.9 million barrels. These events put pressure on oil futures and form it today’s prices.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

 

Forex News from New Forex: Gold is trading in different directions

 

Today, on September 30, during the trading session gold traded mixed. This occurred because of yesterday’s reports from the United States. This put pressure on the U.S. dollar. This morning gold futures showed growth and traded at a price of $1329. On Friday, market participants await the release of US data about the expectations and consumer sentiment, and business activity of the inhabitants. Information that major customers take money out of the Bank of Germany for fear of the possible fine has also supported gold.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Gold prices began to rise

 

Today, on Friday, October 7, during the trading session gold prices began to rise. However, the precious metal is still under pressure. This happens on the background of the fact that market participants expect higher interest rates in the United States. Today, market participants are waiting for an important report on employment in non-agricultural sector of America. Positive reports on the U.S. economy will strengthen expectations for a rate hike. But the dollar index rose by 0.43% against other major currencies. And on the background of positive news for the dollar, we see the growing pressure on gold.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Oil prices are rising

 

Today, on October 12, during the trading session oil prices showed growth. This happens on the background of expectations of discussion about the limitation of oil production. The price of oil Brent has risen in the morning by 0.48 % and WTI by 0.33%. There is the world energy Congress in Istanbul in these days from 9 to 13 October . Market participants expect that it will be a series of meetings between the leading countries which produce oil and there will be some clarity of understanding about the future of oil. As we remember, at the end of September in Algeria, OPEC decided to restrict oil production. But there are no specific limits for each country. All this must be clarified on 30 November on the official OPEC meeting in Vienna.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Gold prices suspended growth

 

Today, on October 14, during the trading session the price of gold suspended growth, which began on Thursday after weak data from China. Data about exports for the year fell by 5.6%, and the data about the import grew by 2.2%. These data contributed to the growth of gold. This morning the US dollar shows growth. The US dollar significantly strengthened before a potential rate hike. This puts pressure on gold. Today, market participants are waiting for important reports from America about retail sales and consumer sentiment. In addition, today is expected speech by fed chair Janet Yellen.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex: Gold prices are stable

 

Today, on October 17, during the trading session the price of gold shows stability. The US dollar strengthened and put pressure on gold. This happened on the background of good data from the US, which on Friday supported the US currency. The price of gold is dependent on the US dollar. The US currency strengthened in September on the background of the forecast of a rate hike in December this year. Today reports on U.S. industrial production and manufacturing activity in New York can have an impact on the American currency.

 

 

NewForex Analyst

 

Sara Rosenstein

[Anna Mon]

Forex News from New Forex:The expected economic macrostatistics

 

17:00 USA. New home sales

 

17:30 USA. Crude oil inventories

 

Fundamental view.

 

Markets of the Asia-Pacific region

 

The day before, the markets of the Old world were under the pressure of falling energy prices and reallocating funds of investors in favor of risky assets. Not having their own ideas in the form of important «local news» Asian markets are trading as overseas movements, reacting to their fall. MSCI index on stock АТР (excluding Nikkei) lost 0.6%, the Japanese index slipped 0.2%. Australian composite S&P/ASX 200 is experiencing more negative affects. It affects the materials sensitivity. In the morning session, the fall exceeded 1.5 %. The price of JPY does not change during the several sessions. While the AUD is trading at 1.3006 against the USD correlated with the general movement of the strengthening of major currencies against the USD. The Bank of Japan and the Ministry of Finance is looking for approaches to stabilize the yield of government bonds. Against this background, the Regulator has promised to protect negative rates and a bond-buying program as long as JGB deviates from the required levels. After a series of scandals with statistics in China, stock markets of Asia exposed to capital outflow by domestic investors in an amount of more than $200 billion, which contributes to the possible formation of a long-term downward trends.

 

North America

 

Weak data on consumer prices and the housing market in America as a whole has formed a minor course of trading on the stock exchanges of this region. Investors closed positions before November, entailing U.S. presidential election and the fed meeting on interest rates. The Nasdaq Composite fell 0.50%, the Dow Jones industrial and S&P 500 suffered smaller losses 0.30 and 0.38%. Canadian composite S&P/TSX amid falling oil fell by 0.35%. USD on all fronts is against major currencies, the Canadian dollar rests on the statement of the Bank of Canada on hold of interest rates against JPY and GBP. The increased demand for gold and a drop of oil shows that November will be difficult for the world’s stock exchanges as a whole. Investors and speculators have not fully decided on which portfolios and which asset is worth to live this month.

 

NewForex Analyst

 

Alex Vergunov

[Anna Mon]

Fundamental analysis from New Forex: The Asia-Pacific region

 

Asian shares continue to fall on Thursday. This happens after a series of data from major technology U.S. companies that undermined the interest to traditional asset classes around the world. At the same time the US dollar strengthened due to increased interest in risky assets and held near nine-month highs against the other major currencies.

 

The largest index MSCI on АТР stocks (not including Japan) has weakened by 0.9 percent on Thursday, while Japan’s Nikkei lost 0.32%. Australia’s S&P/ASX 200 also is losing 1.20%. The yen strengthened against the GBP, AUD and CAD, while the Aussie is trading below all the major currencies today.

 

Despite the fact that in the beginning of the week investors actively supported АТР stocks ue to the weakening of interest to risk. Market participants should closely follow economic data from Japan, the Japanese labor market and consumer prices. It may equally how to reverse the current trend and also to support it. You should also consider the slowdown in profit growth of industrial enterprises of China and the seasonal weakness in the second largest economy in the world.

 

 

NewForex Analyst

 

Alex Vergunov

 

Fundamental analysis from New Forex: North America

 

Corporate data from the US showed a noticeable decline in the profitability of high-tech companies, awakening the appetite for risky assets around the world. Meanwhile in Canada the Central Bank Governor Poloz has limited concerns about an expected reduction of interest rates, pointing to the timeliness of further monetary easing, which helped support the canadian dollar.

 

Stock indexes on Wall street closed mixed: the Dow Jones added 0.17% while the Nasdaq Composite and the S&P 500 lost 0.63% and 0.17% due to weakness in technology companies. The U.S. dollar rose against most currencies. This undermines the competitiveness of national exporters. S&P/TSX in Toronto eased to 0.42%, while the canadian dollar strengthened against the British and the Australian dollar. But it remains in defensive positions against all other currencies.

 

Today, we expect some data from the labor market of the United States and data on orders for durable goods and new home sales. Weak corporate data does not affect the prospects of monetary policy tightening. It is scheduled for December and is approximately 70% according to CME Group from FedWatch. Such sentiments served as the driver for growth of the American dollar today.

 

 

NewForex Analyst

 

Alex Vergunov