23 Окт 2018

Daily Market View

Daily Market View

Tuesday, October 23, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25289 2756.00 7154.25
-0.35% -0.31% +0.40%

U.S stocks fell yesterday, with the S&P 500 poised for its fourth day of losses, as a touch of earnings-season anxiety dogged investors. The Dow Jones Industrial Average dropped 130 points, or 0.5%, while S&P 500 shed 11 points, or 0.4%. The tech heavy NASDAQ however, rose 20 points, or 0.3%. Stocks are trying to find direction after bulls and bears fought each other to a stalemate last week, leaving the benchmark S&P 500 to eke out a weekly rise of less than 0.1%. The tech-heavy NASDAQ suffered a third straight weekly decline as once-popular technology shares continued to take a beating, while the Dow broke a three-week losing streak. Increased volatility has left investors nervous in what’s been a rough October. The S&P 500 is down more than 5% in the month-to-date, while the Dow is off nearly 4% and the NASDAQ has shed 7%. That is left the S&P 500 roughly 6% off its record high set in late September. Investors will be wading through a flood of earnings this week.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

 

RBA’s Bullock speaks on panel in Sydney 03:00    

sep

Japan Nationwide Department Store Sales (YoY) 05:30   -0.2%

sep

Japan Machine Tool Orders (YoY) 06:00   2.8%

sep

German Producer Price Index (YoY) 06:00 3.0% 3.1%

oct

U.K CBI Business Optimism 10:00 -4 -3

oct

U.S Richmond Fed Manufact. Index 14:00 24 29

oct

Euro-Zone Consumer Confidence 14:00 -3.2 -2.9

 

BOE’s Carney Speaks at a Conference 15:20    

OCT

Nikkei Japan PMI Manufacturing 23:30   52.5
Dow Jones Industrial Average

The Dow Jones Industrial Average declined 0.50%. The best performers of the session on the Dow Jones Industrial Average were Intel Corporation, which rose 2.30% or 1.01 points to trade at 45.01 at the close. Meanwhile, Nike Inc. added 0.93% or 0.69 points to end at 74.90 and Cisco Systems Inc. was up 0.93% or 0.42 points to 45.76 in late trade. The worst performers of the session were DowDuPont Inc., which fell 2.47% or 1.42 points to trade at 56.07 at the close. Goldman Sachs Group Inc. declined 2.36% or 5.36 points to end at 221.60 and American Express Company was down 2.08% or 2.22 points to 104.51.

 

 

 

NASDAQ 100

The NASDAQ index gained 0.26%. The top performers on the NASDAQ were Jetpay Corp which rose 133.96% to 4.960, Euroseas Ltd which was up 81.82% to settle at 2.400 and Top Ships Inc. which gained 55.12% to close at 1.9700. The worst performers were Adaptimmune Therapeutics Plc which was down 29.83% to 7.55 in late trade, Aduro Biotech Inc. which lost 29.46% to settle at 4.43 and LM Funding America Inc. which was down 26.57% to 2.93 at the close.

 

 

Oil

Oil futures were little changed yesterday after paring earlier losses despite Saudi Arabia’s pledge to raise crude production to a record high, two weeks before U.S sanctions potentially choke off Iranian supplies. Saudi Energy Minister Khalid al-Falih told Russia’s TASS news agency that his country had no intention of unleashing a 1973-style oil embargo on Western consumers, but rather was focused on raising output to compensate for supply losses elsewhere, such as Iran. Falih said Saudi Arabia would soon raise output to 11 million barrels per day (bpd) from the current 10.7 million. He added that Riyadh had capacity to increase production to 12 million bpd. Oil prices are finely balanced in today’s trading session despite the Saudi pledge to boost production. West Texas Intermediate (WTI) for November delivery also rose 5 cents to settle at $69.17 on its last day as the U.S front-month. In intraday trade, WTI fell as low as $68.27, its lowest since Sept. 14. U.S sanctions on Iran’s oil sector start on Nov. 4

 

 

 

Precious and Base Metals

Gold prices slipped yesterday, pressured by a rallying dollar and the metal’s failure to break above a key technical level. Spot gold fell 0.3 percent to $1,222.13 per ounce, having hit a 2-1/2-month peak last week at $1,233.26 per ounce. Prices were on track to register their biggest daily percentage decline since Oct. 12. U.S. gold futures fell 0.3 percent to $1,224.80. The strength of the dollar and the gold market’s inability to trade above the 100 day moving average at $1,224 yesterday has given people the impression that gold has no chance of rallying. The dollar rose against a basket of major currencies, denting demand for gold, which is priced in the U.S currency, while Wall Street failed to capitalize on gains in European and Asian stock markets. Despite the market gathering a fair amount of technical momentum last week, breaking free of stock market fluctuations, some analysts said the outlook was not straightforward. The fundamental outlook for gold is still looking a little bleak despite the recent recovery. Gold speculators cut their net short position in COMEX gold contracts by 65,637 contracts to 37,372 contracts, the smallest since late July, in the week to Oct. 16, data showed. In other precious metals, palladium surged 3.7 percent to $1,120 per ounce, having hit its highest in more than nine months at $1,123.20. The auto catalyst metal has seen fresh buying on the back of a recovery in Chinese equity markets. Promises of tax cuts and coordinated official statements of support for stock markets in the world’s second-largest economy saw Chinese shares stage their biggest one-day surge in three years. Meanwhile, silver was 0.4 percent lower at $14.54, while platinum slid 0.8%. Copper prices hit one-week highs yesterday due to expectations of stronger demand after authorities in top consumer China said they would take measures aimed at bolstering growth and liquidity.

 

 

 

 

Traditional Agricultures

Corn futures inched higher yesterday, snapping a four-session slide, as forecasts for rains to re-emerge in the Midwest next week raised concerns about harvest delays and crop quality. Soybeans ended narrowly higher while wheat futures sagged in subdued trade, pressured by a firm dollar and weak export demand for U.S supplies.

 

 

Futures Settlement Price Friday, October 22, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25365 25562 25218 25289 -137
S & P 500 SPM18 2757.75 2781.75 2749.5 2756 -11.5
NASDAQ 100 NDM18 7085 7210 7056.75 7154.25 47
Hang Seng HSH18 25488 26217 25483 26125 671
Nikkei 225 NKH18 22390 22660 22260 22660 140
FTSE 100 FTH18 7035 7086.5 7004.5 7015.5 9.5
Gold GCJ18 1229.5 1231.2 1222.6 1224.6 -3.8
Silver SIK18 1463.5 1470.5 1452.5 1457 -7
Copper HGK18 277.6 283.35 277.35 278.05 0.2
Crude Oil CLK18 69.29 69.8 68.43 69.49 0.2
Wheat WK18 511.75 513.5 507 507.75 -6
Soybeans SK18 855.5 862.5 855.5 858.25 1.5
Corn CK18 365.75 370.25 365.5 369.25 2.5

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
DJM18 24807 25012 25151 25356 25495 25700 25839
SPM18 2710.83 2730.17 2743.08 2762.42 2775.33 2794.67 2807.58
NDM18 6917.42 6987.08 7070.67 7140.33 7223.92 7293.58 7377.17
HSH18 24932 25208 25666 25942 26400 26676 27134
NKH18 21993 22127 22393 22527 22793 22927 23193
FTH18 6902.50 6953.50 6984.50 7035.50 7066.50 7117.50 7148.50
GCJ18 1212.47 1217.53 1221.07 1226.13 1229.67 1234.73 1238.27
SIK18 1431.50 1442.00 1449.50 1460.00 1467.50 1478.00 1485.50
HGK18 269.82 273.58 275.82 279.58 281.82 285.58 287.82
CLK18 67.31 67.87 68.68 69.24 70.05 70.61 71.42
WK18 498.83 502.92 505.33 509.42 511.83 515.92 518.33
SK18 848.00 851.75 855.00 858.75 862.00 865.75 869.00
CK18 361.67 363.58 366.42 368.33 371.17 373.08 375.92

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.

 

 

23 Окт 2018

FOREX Newsletter

FOREX Newsletter

October 23, 2018

 

Pulse of the Market

·      The U.S Dollar gained following steep losses in British pound and the Euro yesterday

·      Brexit negotiations with the European Union over Northern Ireland remain in flux

·      The shared currency continued its slide on political uncertainty over Italy’s budget

·      Data showed Canadian wholesale trade decreased by 0.1 percent in August from July

The U.S Dollar rallied from an earlier low as sterling fell after reports that Northern Ireland’s Democratic Unionist Party (DUP) will back an amendment that would stop the Irish border backstop plan. The proposed amendment from a group of pro-Brexit MPs from within Theresa May’s ruling Conservative party would effectively make the European Union’s Irish border backstop proposal illegal. The U.S dollar index, which tracks the greenback against a basket of other currencies, rose 0.33% to 95.76. Meanwhile GBP/USD fell 0.80% to a two-week low of 1.2975. The dollar rose against the yen, with USD/JPY gaining 0.21% to 112.78. The euro was also lower, after Italy’s Deputy Prime Minister Luigi Di Maio said that if the commission reject Italy’s letter over their budget deficit there would still be weeks to discuss the budget with them. Investors remain wary over the disagreement between Italy’s government and the EU over Rome’s 2019 draft budget, which the European Commission has rejected as a breach of EU laws. Ratings agency Moody’s downgraded Italy’s credit rating on Friday, but maintained a stable rating. The Japanese yen edged lower yesterday. Japanese policymakers are keeping a close eye on the strained relations between China and the U.S., as the trade war between the two economic giants shows no signs of abating. The U.S Treasury Department released its semi-annual report on foreign exchange rates, and there was some relief in the markets as the report did not name China as a currency manipulator. Still, the report said that the U.S was “deeply disappointed’ with that China refuses to disclose the extent of its foreign currency intervention. The British pound fell on news that Brexit negotiations with the European Union over Northern Ireland remain in flux and as the euro continued its slide on political uncertainty over Italy’s budget. Prime Minister Theresa May on Monday said that 95 percent of Britain’s Brexit deal has been agreed to but repeated her opposition to an EU proposal for the Irish border. The Canadian dollar edged lower yesterday. Canadian wholesale trade decreased by 0.1 percent in August from July as weaker sales in the building material and supplies.

 

Time(GMT)   Economic Release IMP Actual Forecast Prior
03:00 RBA’s Bullock speaks on panel in Sydney Low      
04:30 RBA’s Debelle speaks on panel in Sydney Low      
05:30 Japan Nationwide Department Store Sales (YoY) (SEP) Low     -0.2%
06:00 Japan Machine Tool Orders (YoY) (SEP) Low     2.8%
06:00 German Producer Price Index (YoY) (SEP) Low   3.0% 3.1%
10:00 U.K CBI Trends Selling Prices (OCT) Low   15 13
10:00 U.K CBI Business Optimism (OCT) Low   -4 -3
10:30 BOE Chief Economist Haldane Speaks in Paris Low      
13:30 U.S Fed’s Kashkari Speaks at Early Childhood Development Event Low      
14:00 U.S Richmond Fed Manufact. Index (OCT) Low   24 29
14:00 Euro-Zone Consumer Confidence (OCT) Medium   -3.2 -2.9
15:20 BOE’s Carney Speaks at a Conference High      
23:30 Nikkei Japan PMI Manufacturing (OCT) Medium     52.5

 

Euro

The single currency failed to hold early-session gains as investors focused on the likelihood of further political uncertainty in Europe over Italy’s spending plans, despite a large drop in Italian government borrowing costs. Rating agency Moody’s downgraded Italy’s credit rating on Friday but unexpectedly kept the outlook at stable. Overall, the EUR/USD traded with a low of 1.1454 and a high of 1.1548 before closing the day around 1.1463 in the New York session.

 

Yen

The Japanese Yen edged lower yesterday. Japanese All Industries Activity improved 0.5%, up from 0.0% month earlier. The reading was a shade better than the estimate of 0.4%. Today, Japan releases Core CPI, the preferred indicator of the BOJ. Japanese policymakers are keeping a close eye on the strained relations between China and the U.S. Overall, the USD/JPY traded with a low of 112.33 and a high of 112.86 before closing the day around 112.80 in the U.S session.

 

British Pound

The British Pound posted strong losses yesterday. On the release front, there were no British or U.S events. Today, the U.K releases CBI Industrial Order Expectations and the U.S publishes the Richmond Manufacturing Index. Brexit negotiations appear deadlocked, although Prime Minister May sounded surprisingly upbeat about the status of the talks. Overall, the GBP/USD traded with a low of 1.2954 and a high of 1.3088 before closing the day at 1.2964 in the New York session.

 

Canadian Dollar

The Canadian Dollar edged lower against its U.S counterpart in yesterday’s session as the greenback broadly rose and domestic data showed a surprise dip in wholesale trade, while a Bank of Canada interest rate decision was due later in the week. Canadian wholesale trade decreased by 0.1 per cent in August from July. Overall, USD/CAD traded with a low of 1.3077 and a high of 1.3124 before closing the day at 1.3097 in the New York session.

 

Australian Dollar

The Australian Dollar weakened after the government appeared on course to lose its one-seat majority in parliament and as the U.S criticized China’s response to efforts at de-escalating the so called trade war between the world’s two largest economies, but one trader says to buy the currency. Australia’s Liberal Party lost its majority in the House of Representatives Saturday. Overall, AUD/USD traded with a low of 0.7074 and a high of 0.7123 before closing the day at 0.7083 in the New York session.

Euro-Yen

EUR/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is giving a bullish tone and MACD is issuing a bearish stance. The Relative Strength Index is above 44 and lies below the neutral zone. In general, the pair has lost 0.24%.

 

Sterling-Yen

Currently, GBP/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is issuing a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 45 reading and lies below the neutral zone. On the whole, the pair has lost 0.53%.

  

Aussie-Yen

Currently, the cross is trading below 14, 50 and 100 days moving average. Fast stochastic is giving a bullish tone and MACD is indicating a bearish stance. The Relative Strength Index is above 44 reading and lies below the neutral region. In general, the pair has lost 0.27%.

 

Euro-Sterling

This cross is currently trading below 14, 50 and 100 days moving average. Fast stochastic is indicating a bullish tone and MACD is also issuing a bullish signal. The Relative Strength Index is above 50 and lies above the neutral region. On the whole, the pair has gained 0.29%.

 

Sterling-Swiss

This cross is trading above 14, 50 and 100 days moving average. Fast stochastic is issuing a bearish stance and MACD is indicating a bullish tone. The Relative Strength Index is above 51 and lies above the neutral region. In general, the pair has lost 0.75%.

 

Appendix

  

FOREX Closing Prices for October 22, 2018
Currency Open High Low Close Net Chg
EUR/USD 1.1513 1.15488 1.14544 1.14632 -0.0058
USD/JPY 112.441 112.867 112.332 112.804 0.3000
GBP/USD 1.30715 1.30882 1.29544 1.29641 -0.0104
USD/CHF 0.99611 0.99783 0.9938 0.99589 0.0004
USD/CAD 1.31023 1.31242 1.3077 1.30978 -0.0007
EUR/JPY 129.471 130.179 129.18 129.317 -0.3140
GBP/JPY 146.992 147.556 146.017 146.256 -0.7840
CHF/JPY 112.85 113.395 112.663 113.235 0.2550
AUD/JPY 80.041 80.282 79.612 79.866 -0.2170
EUR/GBP 0.88058 0.88552 0.88043 0.88393 0.0025
EUR/CHF 1.14696 1.14989 1.14148 1.14167 -0.0053
GBP/CHF 1.30217 1.30326 1.29078 1.29131 -0.0098

 

 

Daily Pivot Points
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
EUR/USD 1.1334 1.1394 1.1429 1.1489 1.1523 1.1583 1.1618
USD/JPY 111.93 112.13 112.47 112.67 113.00 113.20 113.54
GBP/USD 1.2782 1.2868 1.2916 1.3002 1.3050 1.3136 1.3184
USD/CHF 0.9898 0.9918 0.9939 0.9958 0.9979 0.9999 1.0019
USD/CAD 1.3028 1.3052 1.3075 1.3100 1.3122 1.3147 1.3170
EUR/JPY 127.94 128.56 128.94 129.56 129.94 130.56 130.94
GBP/JPY 144.12 145.07 145.66 146.61 147.20 148.15 148.74
CHF/JPY 112.07 112.37 112.80 113.10 113.53 113.83 114.26
AUD/JPY 78.89 79.25 79.56 79.92 80.23 80.59 80.90
EUR/GBP 0.8760 0.8782 0.8811 0.8833 0.8862 0.8884 0.8912
EUR/CHF 1.1304 1.1359 1.1388 1.1443 1.1472 1.1528 1.1556
GBP/CHF 1.2745 1.2826 1.2870 1.2951 1.2995 1.3076 1.3119

 

Sources:  News, Charts & Quotes (Courtesy: Reuters, US Department Of Treasury)

 

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.

 

 

22 Окт 2018

FOREX Newsletter

FOREX Newsletter

October 22, 2018

 

   Pulse of the Market

·      This week investors will be looking ahead to Friday’s data on U.S third quarter growth

·      Data on Friday showed that sales of U.S existing homes fell for a sixth straight month in September

·      British Prime Minister Theresa May is prepared to drop a key demand on the Irish border

·      Data showing that Canadian retail sales and inflation were weaker than expected last month

 

The U.S Dollar was lower on Friday as bond yields continued to hold near a one-week high, while the euro was higher. The U.S dollar index, which tracks the greenback against a basket of other currencies, fell 0.13% to 95.60. Treasury yields were higher, with the United States 10-Year note at 3.192%, not far from a one-week high of 3.211% on Thursday. Bond yields rose after hawkish Fed minutes on Wednesday showed the central bank’s conviction in gradually increasing interest rates in December and beyond. The dollar rose against the yen, with USD/JPY gaining 0.29% to 112.52. Elsewhere, the pound and euro recovered from monthly lows. The British Pound rose 0.17% to 1.3040 despite a hard Brexit looking more likely. The euro was slightly higher, with the Euro increasing 0.22% to 1.1479 after European Economic Affairs Commissioner Pierre Moscovici played down the EU’s dispute with Italy’s budget. He said the EU had only sent a letter to Rome and it would be a long process going forward. Italy is expected to reply to the EU letter today. The Australian dollar was higher despite China posting lower than expected third-quarter GDP. The loonie was lower after core inflation rose less than expected and retail sales fell in August. This week investors will be looking ahead to Friday’s data on U.S third quarter growth, while monetary policy decisions from the European Central Bank and Bank of Canada will also be in focus. The GDP data is expected to show that U.S. economic growth slowed in the third quarter from the second when the economy grew at its fastest pace in four years. Investors will also be getting an update on the health of the U.S. housing market, which has been hit by rising borrowing costs as a result of Fed rate hikes, with the release of figures on new and pending home sales. Data on Friday showed that sales of existing homes fell for a sixth straight month in September, in what was the largest decline in more than two years. The ECB is expected to keep interest rates on hold at its meeting on Thursday, ahead of the expected end of its monetary stimulus program in December. The Canadian dollar steadied against the greenback on Friday but held near a five-week low hit after domestic data showing a slowdown in inflation was supportive of the Bank of Canada maintaining a gradual approach to interest rate hikes. The annual inflation rate in September dipped to 2.2 percent from 2.8 percent as price pressures from gas and air travel eased. Analysts had forecast an annual rate of 2.7 percent.

 

 

Time(GMT)   Economic Release IMP Actual Forecast Prior
01:00 Remarks by RBA’s Debelle in Sydney Low      
04:30 Japan All Industry Activity Index (MoM) (AUG) Medium   0.4% 0.0%
07:00 Japan Convenience Store Sales (YoY) (SEP) Low     1.0%
08:00 Switzerland Total Sight Deposits CHF (OCT 19) Low      
09:00 Euro-Zone Government Debt-Gross Domestic Product Ratio Low     86.7%
12:30 Canada Wholesale Trade Sales (MoM) (AUG) Low     1.5%
12:30 U.S Chicago Fed Nat Activity Index (SEP) Low     0.18
22:30 ANZ Roy Morgan Weekly Consumer Confidence Index (OCT 21) Low      

 

Euro

The single currency recovered from one-week lows against the U.S. dollar on Friday as investors took profits on bets against the currency after it was burdened this week by concerns about Italy’s spending proposals and Britain’s plans to exit the European Union. The single currency had dropped on Thursday. Overall, the EUR/USD traded with a low of 1.1431 and a high of 1.1533 before closing the day around 1.1521 in the New York session.

 

Yen

The Japanese Yen fell on Friday as easing tensions in the U.S stock market and higher U.S Treasury yields helped the Dollar/Yen close higher last week. It was a relatively tame week in the Forex markets compared to the previous week’s volatility. Last week, the U.S Dollar firmed against a basket of major currencies. Overall, the USD/JPY traded with a low of 112.12 and a high of 112.62 before closing the day around 112.50 in the U.S session.

 

British Pound

The British Pound found a relief at the end of a trying week, rallying sharply in the past hour amid a news report provided hope for a Brexit breakthrough in the coming days. UK government was prepared to drop its Irish border demands as a way to help ease the path towards securing an agreement with the EU. Overall, the GBP/USD traded with a low of 1.3009 and a high of 1.3102 before closing the day at 1.3068 in the New York session.

 

Canadian Dollar

The Canadian Dollar took a dive on Friday, flipping into negative territory versus its U.S rival following economic data that missed consensus estimates. Consumer price inflation for September read 2.2% year-on-year, compared with the FactSet consensus of 2.7%. For the month, Canada actually recorded disinflation of 0.4%, versus 0.1% inflation expected. Overall, USD/CAD traded with a low of 1.3025 and a high of 1.3130 before closing the day at 1.3104 in the New York session.

 

Australian Dollar

The Australian Dollar ended Friday’s trading session higher. Aussie has sold off extensively in 2018, falling between 6% and 8% against its major counterparts – now some analysts are saying the declines have been so hefty the currency may be bottoming. But forming a bottom is one thing – starting a new trend higher is quite another.  Overall, AUD/USD traded with a low of 0.7087 and a high of 0.7148 before closing the day at 0.7118 in the New York session.

 

Euro-Yen

EUR/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is giving a bullish tone and MACD is issuing a bearish stance. The Relative Strength Index is above 46 and lies below the neutral zone. In general, the pair has gained 0.89%.

 

Sterling-Yen

Currently, GBP/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is issuing a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 48 reading and lies below the neutral zone. On the whole, the pair has gained 0.70%.

  

Aussie-Yen

Currently, the cross is trading below 14, 50 and 100 days moving average. Fast stochastic is giving a bullish tone and MACD is indicating a bearish stance. The Relative Strength Index is above 45 reading and lies below the neutral region. In general, the pair has gained 0.58%.

 

Euro-Sterling

This cross is currently trading below 14, 50 and 100 days moving average. Fast stochastic is indicating a bullish tone and MACD is also issuing a bullish signal. The Relative Strength Index is above 45 and lies below the neutral region. On the whole, the pair has gained 0.20%.

 

Sterling-Swiss

This cross is trading above 14, 50 and 100 days moving average. Fast stochastic is issuing a bearish stance and MACD is indicating a bullish tone. The Relative Strength Index is above 58 and lies above the neutral region. In general, the pair has gained 0.41%.

 

Appendix

  

FOREX Closing Prices for October 19, 2018
Currency Open High Low Close Net Chg
EUR/USD 1.14511 1.15333 1.14315 1.1521 0.0070
USD/JPY 112.158 112.629 112.122 112.504 0.3210
GBP/USD 1.30162 1.31026 1.30094 1.30682 0.0053
USD/CHF 0.99543 0.99759 0.99478 0.99551 0.0000
USD/CAD 130831 1.313 1.30254 1.31049 0.0022
EUR/JPY 128.452 129.662 128.441 129.631 1.1440
GBP/JPY 146.002 147.31 145.997 147.04 1.0150
CHF/JPY 112.634 113.069 112.558 112.98 0.3210
AUD/JPY 79.57 80.455 79.515 80.083 0.4600
EUR/GBP 0.87956 0.8831 0.87736 0.88139 0.0018
EUR/CHF 1.1400 1.14898 1.13896 1.14699 0.0070
GBP/CHF 1.29587 1.30532 1.2955 1.30108 0.0052

  

 

Daily Pivot Points
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
EUR/USD 1.1355 1.1393 1.1457 1.1495 1.1559 1.1597 1.1661
USD/JPY 111.70 111.91 112.21 112.42 112.71 112.93 113.22
GBP/USD 1.2924 1.2967 1.3018 1.3060 1.3111 1.3153 1.3204
USD/CHF 0.9915 0.9932 0.9943 0.9960 0.9971 0.9988 1.0000
USD/CAD 1.2939 1.2982 1.3044 1.3087 1.3148 1.3191 1.3253
EUR/JPY 127.61 128.02 128.83 129.24 130.05 130.47 131.27
GBP/JPY 144.94 145.47 146.25 146.78 147.57 148.10 148.88
CHF/JPY 112.16 112.36 112.67 112.87 113.18 113.38 113.69
AUD/JPY 78.64 79.08 79.58 80.02 80.52 80.96 81.46
EUR/GBP 0.8724 0.8749 0.8781 0.8806 0.8839 0.8864 0.8896
EUR/CHF 1.1310 1.1350 1.1410 1.1450 1.1510 1.1550 1.1610
GBP/CHF 1.2861 1.2908 1.2959 1.3006 1.3058 1.3105 1.3156

 

 

Sources:  News, Charts & Quotes (Courtesy: Reuters, US Department Of Treasury)

 

 

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.

 

 

22 Окт 2018

Daily Market View

Daily Market View

Monday, October 22, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25426 2767.50 7107.25
+0.26% -0.04% -0.48%

U.S stocks gave up an early rally Friday and struggled to another mixed finish as investors continued to sell former favorites like retailers. Household goods makers rose again as a week of choppy trading concluded. Stocks surged in early trading after better-than-expected reports from companies including Procter & Gamble, American Express and PayPal. Procter & Gamble, the world’s largest consumer products maker, had its biggest rally in 10 years. But the gains for indexes faded after a report showed U.S home sales fell for the sixth month in a row. That hurt smaller and more U.S-focused companies. The market settled back into its usual pattern from the last two weeks, as companies that depend on economic growth struggled and those with more “defensive” qualities such as high dividends did better, a sign investors are worried about a few threats to growth: rising interest rates, trade tensions between the U.S and China, and this week, some sluggish reports about housing construction and sales.

 

                                                   Major Economic Releases for Today
Period Event GMT Forecast Previous

 

Remarks by RBA’s Debelle in Sydney 01:00    

aug

Japan All Industry Activity Index (MoM) 04:30 0.4% 0.0%

sep

Japan Convenience Store Sales (YoY) 07:00   1.0%

oct

Switzerland Total Sight Deposits 08:00    

2017

Euro-Zone Government Debt-Gross Domestic Product Ratio 09:00   86.7%

aug

Canada Wholesale Trade Sales (MoM) 12:30   1.5%

sep

U.S Chicago Fed Nat Activity Index 12:30   0.18

 

U.S to Sell 3-Month Bills 15:30    

OCT

ANZ Roy Morgan Weekly Consumer Confidence Index 22:30    
Dow Jones Industrial Average

The Dow Jones Industrial Average rose 0.26% on Friday. The best performers of the session on the Dow Jones Industrial Average were Procter & Gamble Company, which rose 8.80% or 7.06 points to trade at 87.30 at the close. Meanwhile, American Express Company added 3.78% or 3.89 points to end at 106.73 and Walt Disney Company was up 2.34% or 2.72 points to 118.90 in late trade. The worst performers of the session were Caterpillar Inc., which fell 2.68% or 3.62 points to trade at 131.32 at the close. Intel Corporation declined 2.16% or 0.97 points to end at 44.00 and Dow DuPont Inc. was down 1.86% or 1.09 points to 57.49.

 

 

 

NASDAQ 100

The tech heavy NASDAQ index lost 0.48% on Friday. The top performers on the NASDAQ Composite were The9 Ltd ADR which rose 64.56% to 2.600, Future Fintech Group Inc. which was up 35.64% to settle at 1.6277 and Ability Inc. which gained 29.53% to close at 4.02. The worst performers were Yulong Eco-Materials Ltd which was down 47.23% to 6.200 in late trade, Service Source International Inc. which lost 46.17% to settle at 1.405 and China Advanced Construction Materials which was down 31.25% to 2.750 at the close.

 

 

Oil

Oil prices rose on Friday on signs of surging demand in China, the world’s No. 2 oil consumer, although prices were headed for a second weekly decline on swelling U.S. inventories and concern that trade wars were curbing economic activity. West Texas Intermediate (WTI) crude CLc1 futures rose 47 cents to settle at $69.12 a barrel. For the week, Brent fell 0.9 percent, while U.S. crude lost 3.1 percent. Refinery throughput in China, the world’s largest oil importer, rose in September to a record 12.49 million barrels per day (bpd), government data showed. The data fed hopes about oil demand in China, even though economic growth slowed in the third quarter to its weakest since the global financial crisis. An OPEC and non-OPEC monitoring committee found that oil producers’ compliance with a supply-reduction agreement fell to 111 percent in September from 129 percent in August, three sources familiar with the matter said.

 

 

Precious and Base Metals

Gold prices edged up on Friday and were on course for a third straight week of gains, supported by robust technical momentum and a softer dollar. Spot gold was up 0.1 percent to $1,225.75 an ounce. U.S. gold futures settled down $1.4, or 0.11 percent, at $1,228.7. The yellow metal was headed for a 0.7 percent rise this week. The technical posture of gold in near term basis has improved remarkably in the past two weeks. The volatility seen in the stocks markets worldwide recently has also been favoring the bullion. A recent sell-off in global stocks had prompted investors to seek refuge in gold, pushing prices of the bullion to a 2-1/2-month high, at $1,233.26 earlier this week. However, equity markets recovered on Friday, capping gains in the bullion. Also supporting gold was a slightly weaker dollar. We have seen a bit of a pickup in safe haven buying over the last couple of weeks based on the concerns we see in economy and equity markets weakening. Gold, which is priced in dollars, is seen as a safe store of value during political and economic uncertainty. The dollar index against a basket of currencies was down 0.2 percent, retreating from a one-week peak scaled earlier in the session. On the technical front, a rise above the 100-day moving average, around $1,225, was also supporting gold, with some analysts saying a clear break above that level could trigger further gains and put further pressure on short-sellers. Further resistance for gold stood at about $1,236.90 an ounce and then at $1,240.00. Indicative of an improvement in investor sentiment, holdings of the SPDR Gold Trust, the largest gold-backed ETF, have gained 2.5 percent in the past two weeks. In other precious metals, silver gained 0.3 percent to $14.60. Platinum rose 0.7 percent to $831.60 an ounce, but was on track to post a weekly decline of 0.6 percent.

 

 

 

 

Traditional Agricultures

Soybean futures fell to a one-week low on Friday and recorded a second straight weekly decline, pressured by fresh cancellations of U.S soybean sales. Corn futures fell for a fourth straight session and also notched a weekly drop, while wheat futures firmed after a three-session slide. The U.S Department of Agriculture said private exporters canceled sales of 180,000 tonnes of U.S soybeans to China.

 

 

 

Futures Settlement Price Thursday, October 18, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25383 25594 25336 25426 43
S & P 500 SPM18 2774.75 2800.25 2762.25 2767.5 -5.25
NASDAQ 100 NDM18 7153 7243.75 7093 7107.25 -31.5
Hang Seng HSH18 25108 25717 25054 25454 54
Nikkei 225 NKH18 22295 22540 22210 22520 -60
FTSE 100 FTH18 7028.5 7043.5 6984.5 7006 21
Gold GCJ18 1228.4 1233 1225.9 1228.4 -0.2
Silver SIK18 1458 1473 1457 1464 6
Copper HGK18 273.25 278.7 272.8 277.85 4.7
Crude Oil CLK18 68.72 69.86 68.59 69.29 0.61
Wheat WK18 512.75 518 510.5 513.75 0.75
Soybeans SK18 865 865.25 856.25 856.75 -6.25
Corn CK18 369.75 370.5 366.25 366.75 -3.75

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2
DJM18 25052 25194 25310 25452 25568 25710 25826
SPM18 2715.08 2738.67 2753.08 2776.67 2791.08 2814.67 2829.08
NDM18 6901.50 6997.25 7052.25 7148.00 7203.00 7298.75 7353.75
HSH18 24437 24745 25100 25408 25763 26071 26426
NKH18 21977 22093 22307 22423 22637 22753 22967
FTH18 6920.17 6952.33 6979.17 7011.33 7038.17 7070.33 7097.17
GCJ18 1218.10 1222.00 1225.20 1229.10 1232.30 1236.20 1239.40
SIK18 1440.33 1448.67 1456.33 1464.67 1472.33 1480.67 1488.33
HGK18 268.30 270.55 274.20 276.45 280.10 282.35 286.00
CLK18 67.36 67.98 68.63 69.25 69.90 70.52 71.17
WK18 502.67 506.58 510.17 514.08 517.67 521.58 525.17
SK18 844.58 850.42 853.58 859.42 862.58 868.42 871.58
CK18 360.92 363.58 365.17 367.83 369.42 372.08 373.67

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.

 

 

 

 

19 Окт 2018

Daily Market View

   

Daily Market View

Friday, October 19, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25383 2772.75 7138.75
+0.35% +0.20% +0.39%

U.S stocks slumped again yesterday as investors continued to sell shares of technology and internet companies, industrials, and companies that rely on consumer spending. Several industrial companies tumbled after releasing weak quarterly reports, and European stocks also fell as European Union leaders criticized Italy’s spending plans. At the start of trading, stocks took small losses as bond prices fell and interest rates spiked. While the gain in interest rates didn’t last, stocks turned lower late in the morning, and by the end of the day they had wiped away most of their big rally from Tuesday. Stocks have skidded over the last two weeks, and there are signs investors are worried about future economic growth. The S&P 500 has fallen 5.5 percent in volatile trading since Oct. 3, and technology, industrial and energy companies have taken some of the biggest losses. Those companies tend to do better when the economy is growing more quickly and consumers and businesses have more money to spend.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

3Q

China Gross Domestic Product (YoY) 02:00 6.6% 6.7%

sep

China Retail Sales (YoY) 02:00 9.0% 9.0%

 

BOJ Kuroda speaks in Tokyo 06:35    

sep

U.K Public Sector Net Borrowing 08:30 4.6b 5.9b

sep

U.K PSNB ex Banking Groups 08:30 4.5b 6.8b

aug

Canada Retail Sales (MoM) 12:30 0.4% 0.3%

sep

Canada Consumer Price Index (YoY) 12:30 2.7% 2.8%

sep

U.S Existing Home Sales (MoM) 14:00 -0.9% 0.0%

 

BOE Governor Carney Speaks in New York 15:30    
Dow Jones Industrial Average

The Dow Jones Industrial Average declined 1.27% yesterday. The best performers of the session on the Dow Jones Industrial Average were Verizon Communications Inc., which rose 1.28% or 0.69 points to trade at 54.65 at the close. Meanwhile, Merck & Company Inc. added 0.54% or 0.39 points to end at 72.21 and Exxon Mobil Corp was up 0.43% or 0.35 points to 81.85 in late trade. The worst performers of the session were Caterpillar Inc., which fell 3.92% or 5.54 points to trade at 135.80 at the close. International Business Machines declined 2.61% or 3.50 points to end at 130.55 and Home Depot Inc. was down 2.55% or 4.73 points to 180.44.

 

 

 

NASDAQ 100

The tech heavy NASDAQ index fell 2.06% yesterday. The top performers on the NASDAQ Composite were Proteostasis Therapeutics Inc. which rose 447.62% to 10.35, China Ceramics Co Ltd which was up 105.03% to settle at 3.6700 and Endocyte Inc. which gained 50.29% to close at 23.385. The worst performers were Auris Medical Holding AG which was down 27.35% to 0.850 in late trade, LM Funding America Inc. which lost 23.75% to settle at 3.21 and CDTi Advanced Materials Inc. which was down 23.26% to 1.7114 at the close.

 

Oil

Oil prices nudged higher today on signs of surging demand in China, the world’s second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-U.S. trade war is limiting overall economic activity. U.S West Texas Intermediate (WTI) crude futures were up 19 cents, or 0.3 percent, at $68.84 a barrel. For the week, Brent crude was 1.1 percent lower while WTI futures were down 3.5 percent, putting both on track for a second consecutive weekly decline. Refinery throughput in China, the world’s second-largest oil importer, rose to a record high of 12.49 million barrels per day (bpd) in September as some independent plants restarted operations after prolonged shutdowns over summer to shore up inventories, government data showed on Friday. The refinery consumption may rise through the fourth quarter as several state-owned Chinese refiners return to service after maintenance.

 

Precious and Base Metals

Gold prices nudged higher early today as Asian shares fell on renewed political and economic concerns, with the metal on track for its third straight weekly rise. Spot gold was up 0.2 percent at $1,227.31 an ounce. It was up about 0.7 percent for the week. U.S gold futures were little changed at $1,230.60 an ounce. Stocks in Asia fell as global sentiment soured on issues ranging from trade worries, Italy’s 2019 budget, higher U.S interest rates and growth concerns in China that led to a slump in Chinese shares in the previous session. China’s third-quarter GDP data due on Friday is expected to show growth slipped to its weakest pace since the global financial crisis, as domestic demand faltered and exporters started to feel the pinch from a bitter Sino-U.S trade dispute. U.S trade policy towards China over the next few years will become more confrontational, according to a majority of economists in a Reuters poll who remain convinced U.S. growth has peaked and will slow substantially next year. Italy’s Prime Minister defended its free-spending budget on Thursday, brushing off criticism from Brussels as the European Commission stepped up pressure over a draft it labelled an unprecedented breach of EU fiscal rules. The United States is requesting that a World Trade Organization dispute resolution panel get involved in a clash over international retaliation over U.S tariffs on steel and aluminum, according to a U.S. official familiar with the matter. U.S President Donald Trump said on Thursday he presumes missing Saudi journalist Jamal Khashoggi is dead and that the U.S response to Saudi Arabia will likely be “very severe” but that he still wanted to get to the bottom of what exactly happened. The Federal Reserve’s current monetary policy path would raise the risks of recession in an economy where recent, unexpectedly strong growth may start to taper anyway, St. Louis Fed President James Bullard said yesterday.

 

 

 

Traditional Agricultures

Soybean futures fell more than two per cent in yesterday’s session, with the benchmark November contract recording its largest single-day decline since August, on disappointing weekly export sales and improving U.S harvest weather. Corn and wheat followed the weak tone.

 

 

Futures Settlement Price Thursday, October 18, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25706 25724 25216 25383 -354
S & P 500 SPM18 2813.25 2814.5 2756.5 2772.75 -43.75
NASDAQ 100 NDM18 7306.75 7308.75 7094.25 7138.75 -174.25
Hang Seng HSH18 25671 25684 25206 25400 18
Nikkei 225 NKH18 22870 22890 22575 22580 -305
FTSE 100 FTH18 7023 7051 6953.5 6985 -47.5
Gold GCJ18 1225 1233.2 1221.5 1228.6 3.4
Silver SIK18 1459.5 1467 1445.5 1458 -4
Copper HGK18 277.55 278.2 272.65 273.15 -4.5
Crude Oil CLK18 70 70 68.44 68.63 -1.38
Wheat WK18 515 519 510.75 513 -3.75
Soybeans SK18 882.25 883.25 862.75 863 -21
Corn CK18 372.25 372.75 369.25 370.5 -3.25

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
DJM18 24650 24933 25158 25441 25666 25949 26174
SPM18 2690.00 2723.25 2748.00 2781.25 2806.00 2839.25 2864.00
NDM18 6837.92 6966.08 7052.42 7180.58 7266.92 7395.08 7481.42
HSH18 24698 24952 25176 25430 25654 25908 26132
NKH18 22158 22367 22473 22682 22788 22997 23103
FTH18 6844.50 6899.00 6942.00 6996.50 7039.50 7094.00 7137.00
GCJ18 1210.63 1216.07 1222.33 1227.77 1234.03 1239.47 1245.73
SIK18 1425.17 1435.33 1446.67 1456.83 1468.17 1478.33 1489.67
HGK18 265.58 269.12 271.13 274.67 276.68 280.22 282.23
CLK18 66.49 67.46 68.05 69.02 69.61 70.58 71.17
WK18 501.25 506.00 509.50 514.25 517.75 522.50 526.00
SK18 835.58 849.17 856.08 869.67 876.58 890.17 897.08
CK18 365.42 367.33 368.92 370.83 372.42 374.33 375.92

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.

 

 

 

19 Окт 2018

FOREX Newsletter

FOREX Newsletter

October 19, 2018

 

Pulse of the Market

·      Chances of a Fed rate hike at its meeting in December were priced in at 83.4%

·      Data showed that Japanese exports fell for the first time since 2016 in September

·      The pound was lower as UK Prime Minister Theresa May faced political tension from her party

·      The Canadian dollar drifted lower in yesterday’s session as oil prices slipped

The U.S dollar was higher yesterday as bond yields rose and minutes from the Federal Reserve’s September meeting supported a rate increase in December. The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.13% to 95.47. Treasury yields were higher on Thursday, with the United States 10-Year note near a one-week high of 3.211% and the 2-year note at a 10-year high. The rise in bond yields came after hawkish Fed minutes showed the central bank’s conviction in gradually increasing interest rates in December and beyond. Chances of a Fed rate hike at its meeting in December were priced in at 83.4%, according to Fed Rate Monitor Tool. The dollar rose against the yen, with USD/JPY decreasing 0.12% to 112.53. Data overnight showed that Japanese exports fell for the first time since 2016 in September, adding to concerns over the impact of the U.S.-China trade war on global growth. Italy’s bonds plunged Thursday just hours after the Treasury successfully conducted a debt-exchange operation as the European Union’s executive body dispatched a letter to the nation’s government and investors sharpened their focus on budget concerns. The euro also fell. The pound has dipped as worries escalate regarding Brexit negotiations reaching a deadlock. Sterling was also negatively impacted by UK retail sales data which showed a decline in consumer spending. Experts caution that the exchange rate could stay “on the back foot” over the weekend. The Office for National Statistics (ONS) has revealed UK retail sales growth contracted 0.8 per cent last month. This decline in sales growth was notably larger than the 0.4 per cent contraction that had been forecast by economists and appeared mostly driven by a sharp fall in food sales. The Canadian dollar drifted lower against its key counterparts yesterday, as oil prices slipped on demand worries following an overnight data showing a large build in US crude inventories last week. Data from the US Energy Information Administration showed that US crude oil inventories rose by 6.5 million barrels last week. That marked the fourth straight weekly build and was almost triple what analysts had forecast. In the previous week ending Oct. 5 also, there was a large build of 6.0 million barrels.

 

 

Time(GMT)   Economic Release IMP Actual Forecast Prior
02:00 China Surveyed Jobless Rate (SEP) Medium 4.9% 5.0%
02:00 China Gross Domestic Product (YoY) (3Q) High 6.5% 6.6% 6.7%
02:00 China Retail Sales (YoY) (SEP) Medium 9.2% 9.0% 9.0%
02:00 China Industrial Production (YoY) (SEP) Medium 5.8% 6.0% 6.1%
06:35 BOJ Kuroda speaks in Tokyo High
08:30 U.K Public Sector Net Borrowing (SEP) Medium 4.6b 5.9b
08:30 U.K Central Government NCR (SEP) Medium 5.2b
08:30 U.K Public Finances (PSNCR) (Pounds) (SEP) Medium 3.1b
12:30 Canada Retail Sales (MoM) (AUG) Medium 0.4% 0.3%
12:30 Canada Consumer Price Index (YoY) (SEP) High 2.7% 2.8%
14:00 U.S Existing Home Sales (MoM) (SEP) Medium -0.9% 0.0%
15:30 BOE Governor Carney Speaks in New York High

Euro

The single currency hovered near a one-week low against the dollar today as the European Commission’s criticism of Italy’s populist budget sparked fresh concerns about political tensions in the common currency zone. The euro was relatively flat at $1.1454 on Friday, having fallen 0.4 percent yesterday, its lowest level since Oct. 9. Overall, the EUR/USD traded with a low of 1.1447 and a high of 1.1525 before closing the day around 1.1451 in the New York session.

 

Yen

The Japanese Yen slipped against its most major counterparts in yesterday’s trading session, after the Bank of Japan Governor Haruhiko Kuroda offered an upbeat view on Japanese economy and continued to back low rate strategy to attain inflation goal. Japan’s economy is expected to continue expanding moderately. Overall, the USD/JPY traded with a low of 111.93 and a high of 112.71 before closing the day around 112.18 in the U.S session.

 

British Pound

The British Pound was sharply lower yesterday. On the release front, British retail sales dropped 0.8%, weaker than the estimate of -0.4%. In the U.S, key indicators beat their estimate. The Philly Fed Manufacturing Index dropped to 22.2, above the estimate of 19.7 points. On the employment front, jobless claims dropped to 210 thousand. Overall, the GBP/USD traded with a low of 1.3014 and a high of 1.3129 before closing the day at 1.3015 in the New York session.

 

Canadian Dollar

The Canadian Dollar weakened to a five-week low against its U.S counterpart yesterday as the greenback broadly climbed and oil prices added to a sharp decline the previous day. The decline for the Loonie was driven by strengthening of the U.S dollar rather than anything Canada-specific. The U.S dollar rose to a nine-day high. Overall, USD/CAD traded with a low of 1.3016 and a high of 1.3085 before closing the day at 1.3082 in the New York session.

 

Australian Dollar

The Australian Dollar ended yesterday’s trading session lower as risk aversion took over the market. On the local data front yesterday Australian employment report for the month of September showed the economy added a total of 5.6K new jobs, missing the market’s expectations of 15.0K. However, full-time employment was up by 20.3K, with a decline in part-time jobs. Overall, AUD/USD traded with a low of 0.7095 and a high of 0.7149 before closing the day at 0.7097 in the New York session.

 

Euro-Yen

EUR/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also issuing a bearish stance. The Relative Strength Index is above 38 and lies below the neutral zone. In general, the pair has lost 0.81%.

 

Sterling-Yen

Currently, GBP/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is issuing a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 46 reading and lies below the neutral zone. On the whole, the pair has lost 1.14%.

 

Aussie-Yen

Currently, the cross is trading below 14, 50 and 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 40 reading and lies below the neutral region. In general, the pair has lost 0.54%.

 

Euro-Sterling

This cross is currently trading below 14, 50 and 100 days moving average. Fast stochastic is indicating a bullish tone and MACD is issuing a bearish signal. The Relative Strength Index is above 40 and lies below the neutral region. On the whole, the pair has gained 0.34%.

 

Sterling-Swiss

This cross is trading above 14, 50 and 100 days moving average. Fast stochastic is issuing a bearish stance and MACD is indicating a bullish tone. The Relative Strength Index is above 57 and lies above the neutral region. In general, the pair has lost 0.70%.

 

Appendix

  

FOREX Closing Prices for October 18, 2018
Currency Open High Low Close Net Chg
EUR/USD 1.14991 1.15258 1.14478 1.14514 -0.0048
USD/JPY 112.673 112.712 111.93 112.183 -0.4470
GBP/USD 1.31119 1.31297 1.30141 1.30155 -0.0097
USD/CHF 0.99501 0.99733 0.99182 0.99546 0.0003
USD/CAD 1.30178 1.30858 1.30166 1.30826 0.0063
EUR/JPY 129.561 129.707 128.21 128.487 -1.0530
GBP/JPY 147.753 147.769 145.783 146.025 -1.6890
CHF/JPY 113.208 113.438 112.495 112.659 -0.4980
AUD/JPY 80.073 80.417 79.465 79.623 -0.4290
EUR/GBP 0.8767 0.88045 0.87652 0.87959 0.0029
EUR/CHF 1.14401 1.14642 1.30966 1.1400 -0.0044
GBP/CHF 1.30475 1.30639 1.29547 1.29583 -0.0092

 

Daily Pivot Points
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
EUR/USD 1.1346 1.1397 1.1424 1.1475 1.1502 1.1553 1.1580
USD/JPY 111.06 111.49 111.84 112.28 112.62 113.06 113.40
GBP/USD 1.2861 1.2938 1.2977 1.3053 1.3092 1.3169 1.3208
USD/CHF 0.9869 0.9894 0.9924 0.9949 0.9979 1.0004 1.0034
USD/CAD 1.2968 1.2992 1.3038 1.3062 1.3107 1.3131 1.3176
EUR/JPY 126.40 127.30 127.90 128.80 129.39 130.30 130.89
GBP/JPY 143.30 144.54 145.28 146.53 147.27 148.51 149.25
CHF/JPY 111.35 111.92 112.29 112.86 113.23 113.81 114.18
AUD/JPY 78.30 78.88 79.25 79.84 80.21 80.79 81.16
EUR/GBP 0.8733 0.8749 0.8773 0.8789 0.8812 0.8828 0.8851
EUR/CHF 1.4142 1.3619 1.2510 1.1987 1.0877 1.0355 0.9245
GBP/CHF 1.2812 1.2883 1.2921 1.2992 1.3030 1.3102 1.3139

 

Sources:  News, Charts & Quotes (Courtesy: Reuters, US Department Of Treasury)

 

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.

 

 

18 Окт 2018

Daily Market View

     

Daily Market View

Thursday, October 18, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25737 2816.50 7313.00
+1.78% +1.82% +2.45%

Wall Street stocks retreated earlier yesterday following lackluster U.S housing data and mixed corporate earnings. About 20 minutes into trading, the Dow Jones Industrial Average was down 0.7 percent. The broad-based S&P 500 fell 0.3 percent, while the tech-rich NASDAQ Index lost 0.4 percent. The early weakness came after US stocks had surged Tuesday, partially recovering losses suffered the prior week. Government housing data showed drops in both new construction and permits in September, the latest sign of weakness for a market that has been pressured by higher lumber costs and increasing interest rates. But later in the day after the release of FOMC minutes U.S stocks reversed early losses to end the day slightly lower. Dow member IBM sank six percent after the technology giant reported a drop of two percent in third-quarter revenues to $18.8 billion, below analyst expectations. But other companies had strong results, including Netflix, which surged 7.1 percent after reporting that quarterly profit more than tripled to $403 million.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

sep

Australia Employment Change (SEP) 00:30 15.0k 44.0k

sep

Australia Unemployment Rate (SEP) 00:30 5.3% 5.3%

 

BOJ Kuroda speaks at Branch Managers’s Meeting 00:30    

sep

U.K Retail Sales Ex Auto Fuel (YoY) (SEP) 08:30 3.8% 3.5%

oct

U.S Philadelphia Fed Business Outlook (OCT) 12:30 20 22.9

oct

U.S Initial Jobless Claims (OCT 13) 12:30 210k 214k

oct

U.S Continuing Claims (OCT 6) 12:30 1668k 1660k

sep

U.S Leading Index (SEP) 14:00 0.5% 0.4%

sep

Japan National Consumer Price Index (YoY) (SEP) 23:30 1.3% 1.3%
Dow Jones Industrial Average

The Dow Jones Industrial Average lost 0.36%. The best performers of the session on the Dow Jones Industrial Average were Goldman Sachs Group Inc., which rose 2.97% or 6.58 points to trade at 228.28 at the close. Meanwhile, Johnson & Johnson added 2.12% or 2.90 points to end at 139.46 and McDonald’s Corporation was up 1.65% or 2.70 points to 166.77 in late trade. The worst performers of the session were International Business Machines, which fell 7.63% or 11.07 points to trade at 134.05 at the close. Home Depot Inc. declined 4.34% or 8.41 points to end at 185.17 and UnitedHealth Group Incorporated was down 1.93%.

 

 

 

NASDAQ 100

The NASDAQ index fell 0.04%. The top performers on the NASDAQ were Yulong Eco-Materials Ltd which rose 569.69% to 10.200, China Advanced Construction Materials which was up 62.28% to settle at 3.700 and Sears Holdings Corporation which gained 57.50% to close at 0.63. The worst performers were Revolution Lighting Technologies which was down 38.28% to 1.5800 in late trade, Bridgeline Digital Inc. which lost 32.41% to settle at 0.4721 and Blink Charging Co which was down 31.18% to 2.4500 at the close.

 

 

Oil

Oil prices fell yesterday, with U.S futures dipping below $70 a barrel for the first time in a month, after U.S stockpiles rose by 6.5 million barrels, almost triple what analysts had forecast, while exports dropped. U.S light crude oil ended yesterday’s session down $2.17, or 3 percent, at $69.75. Oil had been rising on worries about Iranian sanctions and tensions between the U.S and Saudi Arabia after the death of Saudi journalist Jamal Khashoggi. U.S. crude stocks rose 6.5 million barrels last week, the fourth straight weekly build, as exports were down to 1.8 million barrels per day, the U.S EIA said in a report. Inventories rose sharply even as U.S. crude production slipped 300,000 bpd to 10.9 million bpd last week, which analysts attributed to the effects of offshore facilities closing temporarily for Hurricane Michael. A tick higher in refining activity and a drop in production due to hurricane activity in the Gulf was not enough to halt a fourth consecutive climb in stocks – and a solid one at that.

 

 

Precious and Base Metals

Gold prices edged up yesterday, carried along by a retreat in global stock markets and technical momentum, despite the normally bearish influence of a stronger dollar. Spot gold was up 0.1 percent at $1,224.87 per ounce, just below the 2-1/2 month peak of $1,233.26 scaled on Monday as a rout in stock markets forced investors to seek safety in the metal. U.S. gold futures were down 0.2 percent at $1,228.10 per ounce. Gold is rising as the stock market is giving back gains and you have enough to worry about in the world to keep the metal from selling off. But the rallies are being capped by expectations of the Federal Reserve’s rate hike expectations. A global stock market rally proved short-lived as warnings over a slowing European auto sector soured the upbeat mood. Wall Street fell on disappointing results from IBM, after enjoying its best session in eight months the previous day. The Fed raised interest rates last month for the third time this year and said it planned four more increases by the end of 2019 and another in 2020. Gold was also getting a leg from nervous shorts, who are trying to pull out. The market was surprised by the extended short positions and the spike indicated a lot of traders were wrong-footed. It also indicates that the dips are being used to cover the short positions. Gold was testing resistance at the 100-day moving average of about $1,226, and a convincing break above that is seen as a bullish sign for investors who follow technical signals. Meanwhile, some central banks have taken their holdings of gold to record levels in recent months in an effort to maintain the value of their currencies against a rising U.S dollar. Holdings of SPDR Gold Trust, the largest gold-backed exchange traded fund, have risen about 2.5 percent in the past eight days, which analysts said shows a shift in perception in sentiment among gold ETF investors. In other metals, silver slipped 0.1 percent at $14.63 per ounce.

 

 

 

 

Traditional Agricultures

Soybean futures fell for a second session yesterday as forecasts of dry weather in parts of the United States indicated farmers there would be able to pick up the pace of harvesting. Soybean and corn prices have come under pressure from expectations that dry weather across the U.S Midwest will aid harvesting.

 

 

Futures Settlement Price Wednesday, October 17, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25720 25843 25458 25737 -40
S & P 500 SPM18 2816.25 2824.25 2783.25 2816.5 -2
NASDAQ 100 NDM18 7339 7368 7221 7313 -43.25
Hang Seng HSH18 N/A N/A N/A N/A N/A
Nikkei 225 NKH18 22870 22945 22755 22885 480
FTSE 100 FTH18 7054 7066.5 6989.5 7032.5 -19
Gold GCJ18 1228 1232.7 1223.5 1225.2 -2.7
Silver SIK18 1467.5 1474.5 1460.5 1462 -5
Copper HGK18 278.2 280.45 275.35 277.65 -0.7
Crude Oil CLK18 72.14 72.4 69.4 70.01 -2.13
Wheat WK18 521.5 523.25 515.75 516.75 -6.75
Soybeans SK18 883.25 889.25 881.5 884 -0.5
Corn CK18 374.25 375.75 373 373.75 -1

 

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
DJM18 25131 25294 25516 25679 25901 26064 26286
SPM18 2750.75 2767.00 2791.75 2808.00 2832.75 2849.00 2873.75
NDM18 7086.33 7153.67 7233.33 7300.67 7380.33 7447.67 7527.33
HSH18 N/A N/A N/A N/A N/A N/A N/A
NKH18 22588 22672 22778 22862 22968 23052 23158
FTH18 6915.50 6952.50 6992.50 7029.50 7069.50 7106.50 7146.50
GCJ18 1212.37 1217.93 1221.57 1227.13 1230.77 1236.33 1239.97
SIK18 1442.83 1451.67 1456.83 1465.67 1470.83 1479.67 1484.83
HGK18 270.08 272.72 275.18 277.82 280.28 282.92 285.38
CLK18 65.81 67.60 68.81 70.60 71.81 73.60 74.81
WK18 506.42 511.08 513.92 518.58 521.42 526.08 528.92
SK18 872.83 877.17 880.58 884.92 888.33 892.67 896.08
CK18 369.83 371.42 372.58 374.17 375.33 376.92 378.08

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.

 

18 Окт 2018

FOREX Newsletter

       

FOREX Newsletter

October 18, 2018

 

Pulse of the Market

·      The U.S Dollar rose as traders waited for the latest meeting minutes from the Federal Reserve

·      U.S Building permits declined in September, increasing concerns over the health of the housing sector

·      The pound was lower as uncertainty over Brexit negotiations will lead to a deal spooked investors

·      The shared currency was also lower yesterday, with EUR/USD dipping 0.40%

The dollar was firmer against its major peers on Thursday after minutes from the U.S. Federal Reserve’s September meeting affirmed expectations that the central bank is likely to continue raising interest rates this year. The minutes from the Fed’s Sept. 25-26 meeting showed every Fed policymaker backed raising interest rates and also generally agreed borrowing costs were set to rise further, despite U.S. President Donald Trump’s view that the tightening has already gone too far. Interest rate futures are now pricing in an 83 percent likelihood that the Fed raises rates in December, according to the CME Group’s FedWatch Tool, the fourth hike this year. Two more increases are expected next year. The dollar index which measures its value against six major peers, traded at 95.65, up 0.08 percent today. The dollar is being bid as there is follow through support post the release of the FOMC minutes. Dollar bulls are playing to the view that the market is underpricing what the U.S. Fed can do. U.S. benchmark 10-year treasury yields climbed to 3.21 percent yesterday, on increasing rate hike expectations. The last time they traded below the psychologically important 3 percent level was on Sept. 18. Market focus is also trained on Rome, where the Italian government is headed for a showdown with Brussels over Italy’s insistence on pushing through a budget deficit target of 2.4 percent of GDP, wider than its previous target of 1.9 percent. Italy’s draft budget for next year, which boosts welfare spending, cuts the retirement age and hikes deficit spending, could breach the European Union’s fiscal rules that require Rome to lower its large public debt. The blowout has sparked investor concerns about more political tensions in the euro zone between Brussels and the common currency’s member states. The euro changed hands at $1.1497 today, trading flat versus the greenback, after losing 0.65 percent yesterday. The euro has lost 2.73 percent versus the dollar over the last three weeks. The British pound lost 0.12 percent versus the dollar on Thursday to $1.3096, weakening after EU’s chief Brexit negotiator Michel Barnier’s comments that more time was needed to secure an exit deal for Britain. The Canadian dollar changed hands with the dollar gaining 0.2 percent versus the loonie. The Dollar has risen 1.6 percent versus the Canadian dollar over the past twelve trading sessions.

 

Time(GMT)   Economic Release IMP Actual Forecast Prior
00:30 Australia Employment Change (SEP) High   15.0k 44.0k
00:30 Australia Unemployment Rate (SEP) High   5.3% 5.3%
00:30 BOJ Kuroda speaks at Branch Managers’s Meeting High      
00:30 Australia NAB Business Confidence (3Q) Medium     7
08:30 U.K Retail Sales Ex Auto Fuel (YoY) (SEP) Medium   3.8% 3.5%
12:30 Canada ADP Publishes September Payrolls Report Low      
12:30 U.S Philadelphia Fed Business Outlook (OCT) Medium   20 22.9
12:30 U.S Initial Jobless Claims (OCT 13) Medium   210k 214k
12:30 U.S Continuing Claims (OCT 6) Medium   1668k 1660k
14:00 U.S Leading Index (SEP) Medium   0.5% 0.4%
23:30 Japan National Consumer Price Index (YoY) (SEP) High   1.3% 1.3%

Euro

The single currency fell against the Dollar as the Greenback strengthened yesterday. Euro zone inflation accelerated in September in line with market expectations, driven mainly by a spike in energy prices, but core inflation, which excludes energy and unprocessed food costs, edged lower, data showed yesterday. Overall, the EUR/USD traded with a low of 1.1494 and a high of 1.1579 before closing the day around 1.1499 in the New York session.

 

Yen

The Japanese Yen pair was little changed against most of its major peers yesterday but made gains against the yen as upbeat Wall Street earnings turned global sentiment away from safe haven assets. The yen had strengthened over seven out of eight sessions. The yen has taken Swiss franc’s mantle as the safe haven currency of choice. Overall, the USD/JPY traded with a low of 111.99 and a high of 112.64 before closing the day around 112.63 in the U.S session.

 

British Pound

The British Pound weakened yesterday after data showed inflation fell more than expected in September and before a European Union summit at which Britain will try to unblock stalled negotiations for a Brexit deal. Economic data had briefly redirected traders’ attention towards the British economy and away from Brexit this week. Overall, the GBP/USD traded with a low of 1.3097 and a high of 1.3190 before closing the day at 1.3113 in the New York session.

 

Canadian Dollar

The Canadian Dollar weakened against its U.S. counterpart yesterday, pulling back from an 11-day high the day before as domestic data showed lower factory shipments and the greenback broadly rose ahead of the release of Federal Reserve minutes. Canadian factory sales fell by 0.4 per cent in August from July on lower motor vehicle sales. Overall, USD/CAD traded with a low of 1.2930 and a high of 1.3023 before closing the day at 1.3019 in the New York session.

 

Australian Dollar

The Australian Dollar should stabilize over coming weeks as much of the relevant bad news is now in the price of the currency, while an anticipated uptick in hedging activity among asset managers is also likely to support the Antipodean, according to NAB. The findings from one of Australia’s most important lenders comes as we enter the final quarter of a year. Overall, AUD/USD traded with a low of 0.7109 and a high of 0.7157 before closing the day at 0.7118 in the New York session.

 

Euro-Yen

EUR/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also issuing a bearish stance. The Relative Strength Index is above 41 and lies below the neutral zone. In general, the pair has lost 0.28%.

 

Sterling-Yen

 

Currently, GBP/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is issuing a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 49 reading and lies below the neutral zone. On the whole, the pair has lost 0.19%.

  

Aussie-Yen

Currently, the cross is trading below 14, 50 and 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 42 reading and lies below the neutral region. In general, the pair has lost 0.10%.

  

Euro-Sterling

This cross is currently trading below 14, 50 and 100 days moving average. Fast stochastic is indicating a bullish tone and MACD is issuing a bearish signal. The Relative Strength Index is above 39 and lies below the neutral region. On the whole, the pair has lost 0.09%.

 

Sterling-Swiss

This cross is trading above 14, 50 and 100 days moving average. Fast stochastic is issuing a bearish stance and MACD is indicating a bullish tone. The Relative Strength Index is above 62 and lies above the neutral region. In general, the pair has lost 0.06%.

 

Appendix

  

FOREX Closing Prices for October 17, 2018
Currency Open High Low Close Net Chg
EUR/USD 1.15735 1.15791 1.14946 1.14992 -0.0074
USD/JPY 112.254 112.656 111.996 112.63 0.3960
GBP/USD 1.31801 1.31909 1.30978 1.3113 -0.0071
USD/CHF 0.99044 0.99528 0.9898 0.99511 0.0046
USD/CAD 1.29321 1.30236 1.29303 1.30193 0.0088
EUR/JPY 129.92 130.134 129.15 129.54 -0.3580
GBP/JPY 147.967 148.228 147.033 147.714 -0.2840
CHF/JPY 113.304 113.457 112.807 113.157 -0.1250
AUD/JPY 80.142 80.305 79.631 80.052 -0.0780
EUR/GBP 0.8778 0.88076 0.8763 0.87665 -0.0008
EUR/CHF 1.14637 1.14807 1.14352 1.14438 -0.0020
GBP/CHF 1.3056 1.30675 1.30016 1.30503 -0.0008

  

Daily Pivot Points
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
EUR/USD 1.1385 1.1440 1.1470 1.1524 1.1554 1.1609 1.1639
USD/JPY 111.54 111.77 112.20 112.43 112.86 113.09 113.52
GBP/USD 1.2984 1.3041 1.3077 1.3134 1.3170 1.3227 1.3263
USD/CHF 0.9860 0.9879 0.9915 0.9934 0.9970 0.9989 1.0025
USD/CAD 1.2865 1.2898 1.2959 1.2991 1.3052 1.3084 1.3145
EUR/JPY 128.10 128.62 129.08 129.61 130.07 130.59 131.05
GBP/JPY 145.89 146.46 147.09 147.66 148.28 148.85 149.48
CHF/JPY 112.17 112.49 112.82 113.14 113.47 113.79 114.12
AUD/JPY 79.01 79.32 79.69 80.00 80.36 80.67 81.04
EUR/GBP 0.8706 0.8734 0.8750 0.8779 0.8795 0.8824 0.8840
EUR/CHF 1.1380 1.1408 1.1426 1.1453 1.1471 1.1499 1.1517
GBP/CHF 1.2946 1.2974 1.3012 1.3040 1.3078 1.3106 1.3144

 

Sources:  News, Charts & Quotes (Courtesy: Reuters, US Department Of Treasury)

 

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.

 

 

17 Окт 2018

FOREX Newsletter

FOREX Newsletter

 October 17, 2018

 

  Pulse of the Market

·      The Greenback remained under pressure yesterday despite upbeat jobs data

·      U.S job openings rose to 7.14 million according to the Labor Department’s monthly JOLTs report

·      Data showed wage growth in the UK rose at its fastest pace in 10 years in August

·      The Single Currency pushed higher yesterday but gains were held in check

 

The Dollar was off its lows against its rivals yesterday on upbeat U.S labor market data and a weaker yen, amid waning safe-haven demand as Wall Street rallied. The U.S dollar index, which measures the greenback against a trade-weighted basket of six major currencies, fell by 0.04% to 94.73. The U.S. Labor Department’s latest Job Openings and Labor Turnover Survey (JOLTs) report, a measure of labor demand, showed job openings in August improved to about 7.136 million, beating expectations of 6.945 million. The rising number of openings comes as the unemployment rate fell to its lowest level in 49 years in September, reaffirming investor expectations that the U.S. labor market remained strong. The dollar’s charge higher, however, was stifled by ongoing strength in the pound following upbeat UK wage data. EUR/USD rose 0.04% to $1.1586, as analysts warned that the European Union and Italy are headed for a “messy clash” over the country’s plans to stick to its 2019 budget deficit at 2.4% of GDP. There is little to suggest that Italy’s government will relent on its budget proposals. This makes a messy clash almost inevitable now. Downside in the dollar was limited, however, by reduced demand for safe-haven yen as a slew of corporate earnings whetted investor appetite for risk. Investor sentiment towards the British Pound brightened yesterday following news that wage growth in the UK accelerated at the fastest pace in almost a decade. According to official reports published by the Office of National Statistics, average earnings jumped by 3.1% in the three months to August while total pay including bonuses rose by 2.7% during the quarter. Attraction towards the Pound was also boosted by the unemployment rate, which remained steady at 4% – the lowest level in 43 years. Although yesterday’s labor figures point to signs of inflationary pressures and reinforce expectations over the BoE raising interest rates gradually over the coming years, the main focus revolves around Brexit. Uncertainty over Brexit negotiations remains the biggest drag on the British Pound and is likely to cap any meaningful upside gains created by positive economic fundamentals. Sterling could be in store for a world of pain if no real progress is made on Brexit at today’s EU summit in Brussels.

 

 

Time(GMT)   Economic Release IMP Actual Forecast Prior
08:30 U.K Consumer Price Index (YoY) (SEP) High   2.6% 2.7%
08:30 U.K Core Consumer Price Index (YoY) (SEP) High   2.0% 2.1%
08:30 U.K Retail Price Index (YoY) (SEP) Low   3.5% 3.5%
08:30 U.K House Price Index (YoY) (AUG) Medium   2.8% 3.1%
08:30 BOE’s FPC Minutes (OCT 3) Medium      
09:00 Euro-Zone Consumer Price Index (YoY) (SEP) Medium   2.1% 2.0%
12:30 U.S Housing Starts (MoM) (SEP) Medium   -5.6% 9.2%
12:30 U.S Building Permits (MoM) (SEP) Medium   2.1% -5.7%
14:30 DOE U.S. Crude Oil Inventories (OCT 12) Medium     5987k
18:00 U.S FOMC Meeting Minutes (SEP 26) High      
23:50 Japan Trade Balance (SEP) Medium   -¥43.3b -¥444.6b

 

Euro

The single currency gave back yesterday’s earlier gains to end the session almost unchanged. The euro zone’s trade surplus with the rest of the world, unadjusted for seasonal swings, shrank in August to 11.7 billion euros ($13.6 billion) from 15.3 billion a year earlier, but the adjusted number increased to 16.6 billion, Eurostat data showed yesterday. Overall, the EUR/USD traded with a low of 1.1564 and a high of 1.1620 before closing the day around 1.1572 in the New York session.

 

Yen

The Japanese Yen weakened yesterday, pulling back further from recent highs touched amid a global equities rout. The Japanese currency, favored as a haven by investors during bouts of market uncertainty, was off 0.2 per cent at ¥112, as it moved off a four-week high. Major currencies have been under pressure almost across the board. Overall, the USD/JPY traded with a low of 111.71 and a high of 112.31 before closing the day around 112.23 in the U.S session.

 

British Pound

The British Pound extended gains in yesterday’s session. Investor sentiment towards the British Pound brightened yesterday following news that wage growth in the UK accelerated at the fastest pace in almost a decade. According to official reports published by the Office of National Statistics, average earnings jumped by 3.1% in the three months to August. Overall, the GBP/USD traded with a low of 1.3139 and a high of 1.3234 before closing the day at 1.3184 in the New York session.

 

Canadian Dollar

The Canadian Dollar strengthened to nearly a one-week high against the greenback yesterday, boosted by a rise in stocks and growing expectations of a Bank of Canada interest rate hike next week. Stocks gained as upbeat earnings reports helped ease jitters over the impact of various global issues, including tariffs, on corporate profits. Overall, USD/CAD traded with a low of 1.2913 and a high of 1.2996 before closing the day at 1.2931 in the New York session.

 

Australian Dollar

The Australian Dollar has made limited movement against the US Dollar following the release of the latest RBA minutes. Covering the RBA’s meeting from earlier in October, the minutes have revealed a still-cautious outlook among policymakers. While RBA officials are still planning to raise interest rates when they make the next adjustment. Overall, AUD/USD traded with a low of 0.7110 and a high of 0.7149 before closing the day at 0.7139 in the New York session.

 

Euro-Yen

EUR/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also issuing a bearish stance. The Relative Strength Index is above 45 and lies below the neutral zone. In general, the pair has gained 0.39%.

  

Sterling-Yen

Currently, GBP/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is issuing a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 53 reading and lies above the neutral zone. On the whole, the pair has gained 0.70%.

  

Aussie-Yen

Currently, the cross is trading below 14, 50 and 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 44 reading and lies below the neutral region. In general, the pair has gained 0.58%.

 

Euro-Sterling

This cross is currently trading below 14, 50 and 100 days moving average. Fast stochastic is indicating a bullish tone and MACD is issuing a bearish signal. The Relative Strength Index is above 38 and lies below the neutral region. On the whole, the pair has lost 0.31%.

  

Sterling-Swiss

This cross is trading above 14, 50 and 100 days moving average. Fast stochastic is issuing a bearish stance and MACD is indicating a bullish tone. The Relative Strength Index is above 64 and lies above the neutral region. In general, the pair has gained 0.61%.

 

Appendix

  

FOREX Closing Prices for October 16, 2018
Currency Open High Low Close Net Chg
EUR/USD 1.15777 1.16201 1.15646 1.15729 -0.0005
USD/JPY 111.754 112.319 111.714 112.234 0.4840
GBP/USD 1.31513 1.32345 1.3139 1.31843 0.0033
USD/CHF 0.98686 0.99073 0.98572 0.99047 0.0035
USD/CAD 1.29893 1.29967 1.29139 1.29318 -0.0055
EUR/JPY 129.404 130.273 129.403 129.898 0.5040
GBP/JPY 146.997 148.38 146.897 147.998 1.0240
CHF/JPY 113.203 113.675 113.095 113.282 0.0680
AUD/JPY 79.66 80.179 79.658 80.13 0.4620
EUR/GBP 0.88006 0.88088 0.87507 0.87745 -0.0027
EUR/CHF 1.14273 1.14763 1.14273 1.14639 0.0038
GBP/CHF 1.29814 1.30836 1.29709 1.30587 0.0080

 

 

Daily Pivot Points
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
EUR/USD 1.1496 1.1530 1.1552 1.1586 1.1607 1.1641 1.1663
USD/JPY 111.25 111.48 111.86 112.09 112.46 112.69 113.07
GBP/USD 1.3042 1.3090 1.3137 1.3186 1.3233 1.3281 1.3328
USD/CHF 0.9822 0.9840 0.9872 0.9890 0.9922 0.9940 0.9972
USD/CAD 1.2815 1.2865 1.2898 1.2947 1.2981 1.3030 1.3064
EUR/JPY 128.57 128.99 129.44 129.86 130.31 130.73 131.18
GBP/JPY 145.65 146.28 147.14 147.76 148.62 149.24 150.10
CHF/JPY 112.45 112.77 113.03 113.35 113.61 113.93 114.19
AUD/JPY 79.28 79.47 79.80 79.99 80.32 80.51 80.84
EUR/GBP 0.8689 0.8720 0.8747 0.8778 0.8805 0.8836 0.8863
EUR/CHF 1.1386 1.1407 1.1435 1.1456 1.1484 1.1505 1.1533
GBP/CHF 1.2879 1.2925 1.2992 1.3038 1.3105 1.3150 1.3217

 

Sources:  News, Charts & Quotes (Courtesy: Reuters, US Department Of Treasury)

 

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.

 

 

17 Окт 2018

Daily Market View

 

Daily Market View

 Wednesday, October 17, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25777 2818.50 7356.25
+1.78% +1.82% +2.45%

Wall Street stocks jumped yesterday following a batch of mostly good earnings that helped investors look past recent stock market weakness. About 20 minutes into trading, the Dow Jones Industrial Average was up 0.7 percent. The broad-based S&P also gained 0.7 percent, while the tech-rich NASDAQ jumped 1.0 percent. Shares of leading companies rose following earnings reports and positive commentary about economic conditions. United Health rose 3.1 percent, Morgan Stanley 2.8 percent, Johnson & Johnson 2.5 percent and Goldman Sachs 0.9 percent. The gains helped the market shift focus after worries about high interest rates and trade war fallout prompted a bruising two-day rout last week that hung over stocks on Monday, when equities again fell. Lingering concerns “aren’t going to vanish overnight, yet encouraging earnings guidance can go a long way toward dulling the stock market’s bearish senses for the time being and instilling some upside momentum again in growth stocks.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

sep

U.K Consumer Price Index (YoY) 08:30 2.6% 2.7%

sep

U.K Core Consumer Price Index (YoY) 08:30 2.0% 2.1%

aug

U.K House Price Index (YoY) 08:30 2.8% 3.1%

oct

 BOE’s FPC Minutes 08:30

sep

Euro-Zone Consumer Price Index (YoY) 09:00 2.1% 2.0%

sep

U.S Housing Starts (MoM) 12:30 -5.6% 9.2%

sep

U.S Building Permits (MoM) 12:30 2.1% -5.7%

oct

DOE U.S. Crude Oil Inventories 14:30 5987k

sep

U.S FOMC Meeting Minutes 18:00
Dow Jones Industrial Average

The Dow Jones Industrial Average gained 2.17%. The biggest gainers of the session on the Dow Jones were UnitedHealth Group Incorporated, which rose 4.73% or 12.32 points to trade at 272.57 at the close. Nike Inc. added 3.32% or 2.49 points to end at 77.48 and Visa Inc. was up 3.29% or 4.51 points to 141.74 in late trade. Biggest losers included Verizon Communications Inc., which added 0.19% or 0.10 points to trade at 53.70 in late trade. McDonald’s Corporation added 0.24% or 0.40 points to end at 164.07 and Exxon Mobil Corp gained 0.47% or 0.38 points to 81.20.

 

 

NASDAQ 100

The NASDAQ index added 2.89%. The top performers on the NASDAQ Composite were Blink Charging Co which rose 62.56% to 3.5600, Sears Holdings Corporation which was up 29.03% to settle at 0.40 and Trevena Inc. which gained 26.18% to close at 1.07. The worst performers were Hudson Technologies Inc. which was down 31.55% to 0.842 in late trade, Flex Pharma Inc. which lost 27.37% to settle at 0.69 and Liquid Media Group Ltd which was down 24.47% to 3.210 at the close.

 

 

Oil

Oil prices were higher yesterday as concerns about tightening global supplies ahead of U.S. sanctions on Iran faced higher U.S shale production and inventories. The disappearance of a Saudi Arabian journalist Jamal Khashoggi in Turkey has also strained U.S.-Saudi ties and provoked international outcry and fears that supplies from the world’s top crude exporter may be affected. The focus within the oil trade during the next couple of weeks is likely to be on Iran and Saudi Arabia. In the absence of upward pull from the products or the Brent market, WTI will have difficulty advancing and additional weakening in the WTI curve would appear likely given recent stock builds at Cushing. Reports that Iranian exports of crude oil may be falling faster than expected ahead of new U.S. sanctions on Tehran from Nov. 4 lent support. The U.S. Department of Energy will release official data later in today’s session. OPEC Secretary-General Mohammad Barkindo said oil markets were currently adequately supplied and balanced.

 

 

Precious and Base Metals

Gold rose yesterday as investors unwound some bearish positions after prices jumped to a 2-1/2-month high in the previous session, driven by a global equities sell-off. Spot gold was up 0.4 percent at $1,231.20 per ounce, having peaked on Monday at $1,233.26, its highest since July 26. U.S. gold futures were up 0.4 percent at $1,234.60. Gold is still holding the gains, very close to the 100-day moving average. A close above that level could be a positive sign and provoke more short-covering and push prices higher. Speculators who trade on technical signals regard a break above the 100-day moving average as a bullish sign. Prices were trading above the 100-day moving average of $1,227. Data last week showed that speculators had increased their short positions and traders said the recent rally forced many to abandon those bets on lower prices. Tensions between Saudi Arabia and Western nations, plus potential divisions in Europe over Italy’s budget, were also helping gold. Global equities edged higher after sharp declines over the past couple of days, but gains were capped as markets remained nervous because of factors including the U.S.-China trade tussle, tensions between Saudi Arabia and western powers, stalled Brexit negotiations and concerns over China’s economy. Gold, usually viewed as a safe store of value during political and economic uncertainty, has fallen nearly 10 percent from its April peak as investors largely turned to the dollar as the U.S.-China trade war unfolded against a background of higher U.S interest rates. The recent volatility in world stock markets and some heightened geopolitical tensions are continuing to provide some demand for safe-haven gold. Holdings of SPDR Gold Trust, the largest gold-backed exchange traded fund, rose for a second straight session on Monday, rising 4.1 tonnes. Holdings have gained about 2.5 percent in the past seven days. In other metals, Silver rose 0.8 percent to $14.77 an ounce, earlier in the session it touched its highest since Oct. 2 at 14.84.

 

 

 

 

Traditional Agricultures

Soybean prices slid yesterday, taking a breather after three sessions of gains to an eight-week high as rains in parts of the U.S Midwest slowed the pace of harvest and raised concerns over crop quality.

 

 

 

Futures Settlement Price Tuesday, October 16, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25173 25802 25164 25777 581
S & P 500 SPM18 2747.5 2818.75 2745.5 2818.5 69.75
NASDAQ 100 NDM18 7070.5 7356.75 7063.25 7356.25 280.5
Hang Seng HSH18 25480 25675 25203 25382 42
Nikkei 225 NKH18 22250 22535 22225 22405 195
FTSE 100 FTH18 7002.5 7057 6969 7051.5 59
Gold GCJ18 1230.5 1235.6 1226.2 1227.9 -2.3
Silver SIK18 1472 1486.5 1463 1467 -3.5
Copper HGK18 277.85 279.3 275.85 278.35 0.35
Crude Oil CLK18 71.67 72.25 70.99 72.14 0.45
Wheat WK18 524.75 526.5 520.75 523.5 -1.5
Soybeans SK18 890.5 890.75 878.75 884.5 -6.75
Corn CK18 376.5 377 373.25 374.75 -3

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2
DJM18 24722 24943 25360 25581 25998 26219 26636
SPM18 2696.50 2721.00 2769.75 2794.25 2843.00 2867.50 2916.25
NDM18 6867.25 6965.25 7160.75 7258.75 7454.25 7552.25 7747.75
HSH18 24693 24948 25165 25420 25637 25892 26109
NKH18 21932 22078 22242 22388 22552 22698 22862
FTH18 6906.67 6937.83 6994.67 7025.83 7082.67 7113.83 7170.67
GCJ18 1214.80 1220.50 1224.20 1229.90 1233.60 1239.30 1243.00
SIK18 1434.33 1448.67 1457.83 1472.17 1481.33 1495.67 1504.83
HGK18 272.92 274.38 276.37 277.83 279.82 281.28 283.27
CLK18 70.08 70.53 71.34 71.79 72.60 73.05 73.86
WK18 514.92 517.83 520.67 523.58 526.42 529.33 532.17
SK18 866.58 872.67 878.58 884.67 890.58 896.67 902.58
CK18 369.25 371.25 373.00 375.00 376.75 378.75 380.50

 

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

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