USA500 Analysis for 02.15.2016, A Break above 1890 Could Restart Uptrend

Forex Analysis
USA500 update, A Break above 1890 Could Restart Uptrend

USA500 (S&P500), Daily

Recent U.S. reports defied the global financial panic, with retail sales through January that imply solid “real” spending growth. The Global fear of an economic downturn despite heavy commodity price declines and continued export price weakness is apparently not translating to weaker U.S. growth.

Technically, the S&P 500 (USA500) could reverse the recent global stock market sell-off providing we see a clean upward penetration of my 3rd fan line (see above chart). Resistance is spotted around the 1890.00 area. Additionally, a breakaway gap is spotted during the most recent trading day. My initial target zone is between the 50% – 61.8% (December high – January low retracement). My conclusion for the USA500 supports long positions above 1890 for targets within the 1948.00 – 2000.00 zone.

Feb 15 sp500 srl v5

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

The Economic Week Ahead for 02.15.2016

Forex Analysis
The Economic Week Ahead

Main Macro Events This Week

  • United States: economic data will resume after today’s Presidents Day holiday, starting with the Empire State index (Tuesday) forecast rebound to -12.0 in February (median -10.0) from -19.4 in January. The NAHB housing market index is also set to tick up to 61 in February from 60, while the Treasury International Capital (TIC) flow release is due late in the session. The MBA mortgage market report (Wednesday) is on tap and headline PPI should come in tame at -0.1% (median -0.2%) vs -0.2%, or +0.1% for core vs +0.2%. Housing starts are expected to increase 1.8% to a 1,170k unit pace in January, while permits may rise to 1,210k. Industrial production is forecast to be flat for January (median 0.3%) vs -0.4% in December, while capacity use may dip to 76.4% (median 76.6%) from 76.5%. FOMC minutes to the January meeting (Wednesday) aren’t likely to get the usual scrutiny they would otherwise receive, primarily since Chair Yellen’s testimony last week provided a more up-to-date dovish outline of Fed thinking. The Philly Fed index is set to remain damp (Thursday) at -3.0 in February (median -2.8) vs -3.5, while initial jobless claims may tick up 5k to 274k and leading indicators rise 0.2% (median -0.2%) vs -0.2. CPI rounds out the week on its lonesome (Friday), set to sink 0.1% headline and rise 0.1% core. Fedspeakers pile up starting this week (Tuesday) with Philly Fed’s Harker will discuss the economic outlook at the University of Delaware. Minneapolis Fed president Kashkari will analyze the lessons of the financial crisis at a Brookings event. Note, Kashkari was instrumental in implementing the TARP program while at the Treasury Department during the crisis, which could make this speech especially informative. Boston Fed dove Rosengren will mull the economic outlook as well. St. Louis Fed dove Bullard (Wednesday) will discuss the economic and monetary policy outlook at a Fed forecast dinner. SF Fed dove Williams will take a look at the economic outlook (Thursday) at a town hall meeting in L.A. Wrapping it all up will be Cleveland Fed hawk Mester (Friday), who will mull the economic outlook before the Global Interdependence Center.
  • Canada: a holiday-truncated calendar has a steady schedule of key economic reports. Markets are closed today for Family Day. Manufacturing (Tuesday) is expected to rise 0.5% m/m in December after the 1.0% bounce in November. Wholesale shipments (Thursday) are seen growing 0.2% m/m in December after the 1.8% rise in November. Retail sales (Friday) are projected to fall 1.0% m/m in December after the 1.7% surge in November. Sales excluding the autos aggregate are projected to fall 0.7% following the 1.1% gain in November. Total CPI (Friday) is expected to pick-up to a 1.7% y/y rate in January from the 1.6% clip in December. The BoC’s core CPI is seen growing at a 1.9% y/y pace in January, matching the 1.9% in December. Existing home sale for January are due on Tuesday. There is nothing from the BoC this week. 
  • Europe: ECB’s Draghi speaks today. Market volatility has increased, with large swings in peripheral stock and bond markets reminding the ECB that especially peripherals remain vulnerable and that Draghi’s promise has not solved the Eurozone’s fundamental problems. Draghi will have to pull quite a rabbit out of his hat in March and will have a first chance to try and placate investors on Monday, when he speaks at a European Parliament Committee. Data releases this week are unlikely to take any pressure off the ECB. The focus is on German ZEW Investor Sentiment (Tuesday), which we expect to fall into negative territory, thus highlighting that pessimists now outnumber optimists. We are looking for a sharp drop to -0.5% from 10.2 in January, a decline that will only add to mounting growth concerns. Similarly Eurozone Consumer Confidence (Friday) is seen falling further into negative territory at -6.5, despite the fact that at least so far the labour market continues to improve and reflecting mainly concerns about the general economic outlook. The Eurozone also has trade data today and BoP and Current Account data on Thursday, both for December. With Q4 GDP numbers already released the numbers are too backward looking to change the outlook and will bring mainly background information. German releases producer price inflation for January and France has the final reading of January inflation numbers, which are not expected to hold any surprise. 
  • United Kingdom: The calendar this week brings January inflation data (Tuesday), labour market numbers covering December and January (Wednesday), and retail sales (Thursday). Monthly government borrowing numbers are also (Friday). Last week brought unambiguously weak UK production data, while we expect this week’s releases to be a mixed bag, with unemployment expected to hit a new cycle low of 5.0%, retail sales expected to be perky, but inflation likely to remain benign, which, along with the backdrop of global market turmoil, should leave the BoE a no-hike-for-the-foreseeable policy standing. Markets have now priced out any chance of the BoE hiking rates before next year following last week’s publication of the BoE’s quarterly Inflation Report, which detailed lower growth and inflation projections.
  • China: In China, the markets reopen after the week long holidays and will have a lot of catching up to do. As for data, January Trade Balance numbers came in at $63.3B (previous $60.9B). January CPI and PPI (Thursday) are forecast at 1.7% y/y from 1.6%, and -5.5% y/y from -5.9%, respectively.
  • Japan: the December tertiary industry index (today) improved slightly to -0.6% in December (November: -0.9%). Revised December industrial production deteriorated further to -1.9 YoY from the previous number of -1.6%, while Q4 1st preliminary GDP (Tuesday) is forecast at -2.0%, from the previous 1.0%. December machine orders are seen rebounding 3.0% m/m, from the 14.4% fall previously. A JPY 500 bln deficit is expected for the January trade report (Thursday). The December all-industry index (Friday) is penciled in at -0.5% m/m from -1.0% previously.
  • Australia: calendar is highlighted by the January employment report (Thursday), expected to show a 5.0k gain in jobs following the 1.0k dip in December. The unemployment rate is seen at 5.8% in January, identical to the 5.8% in December. The minutes to the RBA’s February meeting will be released on Tuesday. The bank held rates steady at 2.00%, as expected, but opened the door wide to another rate cut if needed to support domestic demand. Assistant Governor (Financial System) Malcolm Edey speaks to the Australian Shareholders Association (ASA) Investor Forum in Sydney (Thursday).

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURAUD Analysis, 1.5610 1st Target Breached 1.5790 in Sight

Forex Analysis

 EURAUD Analysis, 1.5610 1st Target Breached 1.5790 in Sight

EURAUD update, 1.5610 1st Target Breached 1.5790 in Sight

EURAUD, Daily

The EURAUD pair continues to be in a recovery mode with my Febuary 3 target 1.5610 being breached today. Please see my post last (EURAUD Update) for futher details.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

USDJPY Analysis for 02.05.2016

Forex Analysis
USDJPY, update

USDJPY, 4 Hour

The U.S. unemployment rate fell to cycle lows of 4.9%, and hourly earnings rose more than expected. This could be view as a short term positive for the USD.

USDJPY price appears to be in a corrective recovery since sharply dropping from the recent highs near 121.70’s. Stochastic Analysis on the 4 hour chart supports short term long positions with a price target near the 118.15.

Feb 5 USDJPY SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

US nonfarm payrolls: 151k

Forex Analysis
US nonfarm payrolls: 151k

EURUSD, 240 min

US nonfarm payrolls rose 151k in January following a 262k December increase (revised down from 292k) and a 280k November pop (revised up from 252k). The January payroll gain falls short of the 221k average for last year. The unemployment rate dropped to 4.9% from 5.0% previously. Private payrolls were up 158k, as the goods producing sector added 40k jobs, with construction up 18k and manufacturing up 29k. Jobs in the service sector rose 118k. Average hourly earnings climbed 0.5% from unchanged previously. The workweek increased to 34.6 hours from 34.5 hours.

Jobs number that comes in by over 100K below the previous figure would be a disaster in some other month but in January it is not that alarming. The drop is related to cyclicality in the US job market after hiring for Christmas employers are laying people off in January. This however, could add to cautiousness among the Fed bankers therefore strengthen the US dollar index which has resting at support. This obviously is bearish for EURUSD and Crude Oil. EURUSD is rolling over and trading at a minor support at 1.1147 while the next support levels are at 1.1102 and 1.0968.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

 

Crude Oil Rolling Over

Forex Analysis
Crude Oil Rolling Over

Crude Oil, 240 min

According to Bloomberg the US oil reserves are at highest levels since 1930’s. This has turned the price bearish once again with a rally to levels above $32 being rejected by the traders and the price of crude oil now rolling over. Crude is now resting at 38.2% Fibonacci level after it created a 4h shooting star. This is bearish and suggests that oil will move lower towards to Target Area 1 at $29.34 – $29.95 (Target 2 is at 27.70 – 28.30 area).

I’d like to see the price rallying higher into my sell area ($33.10 – $33.60) before initiating short trades but the drop could also happen pretty quickly if the current Fibonacci support is broken. Then obviously the drop should be traded accordingly. Those that have attended my latest Live Analysis Webinar know how to do it.

Currently the Stochastic Oscillator is pretty well in the oversold area and indicates of a possibility of price bouncing higher before it’s ready to move lower. Should the price rally into the sell area, look for sell signals as per my teachings in the webinars.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

 

Macro Events & News for 02.05.2016

Forex Analysis
Macro Events & News

FX News Today

Cleveland Fed hawk Mester saw “a little more downside risk” to the U.S. economy than when the Fed hiked in December in remarks earlier after the NY close, though when pressed about the market sell-off in January, she said “you can read too much into volatility.” That makes it 4 out of 5 Fedspeakers this week mulling greater downside risk, which will help keep the dollar on the defensive. Between NIRP in Japan and easy money promises from the ECB and now a unanimous BoE in favor of steady policy it appears the FX wars are in full swing. USDJPY is near session and one month lows of 116.60 after completely erasing the rate cut surge to 121.68 on Jan-29.

Reserve Bank of Australia said low inflation may provide scope for easier policy, not surprisingly repeating a key line from Governor Stevens’ statement earlier this week that accompanied the lack of change in the 2.00% rate setting. The growth and inflation projections in the quarterly Statement on Monetary Policy were not substantially different from the previous statement released last November. Underlying inflation is expected to remain low over the forecast period. They note that the recent improvement in the labour market was not expected in November, and could be providing information about the economy not apparent in the national GDP figures. Or the recent strength in the labour market will be followed by a pull-back. Meanwhile, China’s growth outlook is pegged as a sizable source of uncertainty for Australia’s outlook. The AUD is adjusting to lower commodity prices, with the weaker currency benefiting export related industries. Separately, retail sales were flat in December after a 0.4% m/m gain in November, undershooting expectations. Sales volumes grew 0.6% in Q4 (q/q, sa) after the 0.5% gain in Q3.

US same store sales dipped 0.5% y/y in January, according to Johnson Redbook, after a 0.9% y/y December gain. Apparel paced the weakness with a 3.0% y/y decline, followed by miscellaneous (-2.0% y/y) and drugs (-1.4% y/y), probably on promotions and price declines. Same store sales excluding drugs were down 0.3% y/y. Discounters outperformed with a 0.7% annual gain, while clubs were unchanged. All stores posted a 1.5% y/y gain last month, versus 2.6% y/y in December. This is another manifestation of the slowdown in momentum over the turn of the year. January retail sales will be reported a week from Friday and we’re projecting a 0.1% headline gain, and a flat ex-auto reading.

Main Macro Events Today

  • US Employment: January employment is out today and we expect the headline to reveal a 200k (median 198k) increase for the month. This is below the 292k December increase and the headline faces downside risk from a weaker claims path and deteriorating producer sentiment.
  • Canada Employment: We expect employment to rise 10.0k in January (median 5.0k) after the 22.8k gain in December. Of course, momentum was lacking in the economy going into the new year (unless you were an auto dealer), which could restrain job creation. An as-expected gain would be welcome news given what should be a stall out in GDP growth during Q4, but the report is unlikely to significantly alter the views of those calling for a near term rate cut.
  • Canada Ivey PMI: The Ivey PMI is expected to improve to a seasonally adjusted 51.0 in January from 49.9 in December. The Ivey PMI saw a three month trailing average of 55.5 in December from 56.8 in November. The 3-month average has been falling since the 58.8 in June of 2015, but remains comfortably inside expansionary territory, consistent with a rebound in GDP during the first half of 2016 depressed in January.

 

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURGBP near a sell area

Forex Analysis
EURGBP near a sell area

EURGBP, 240 min

EURGBP hit my downside target yesterday at 0.7533, right before EUR started rallying and took EURGBP higher and all the way up to the current levels. It took time for the market to move into my target 1 and therefore provided multiple opportunities to engage the short side and benefit from recommendation in the pair.

At the time of writing the pair after getting overbought both in terms of 4h Stochastics and Bollinger Bands is now reacting lower. The upper daily Bollinger bands are now near and market participants have started taking their profits off the table as Carney speaks and thus made the pair vulnerable for corrections. I look to sell rallies in the sell area with a view of buying back lower at the buy area just above 0.76. Should price action confirm the idea, the current levels could work for short entries with a view of taking a mean reversion trade to my buy area at 0.7601-0.7616. The buy area could then work as long entry area with a target near the most recent highs. As per usual, these potential trading setups are subject to price action confirming the ideas. In order to fully understand how to utilize analysis on this page it is recommended that you attend our live educational webinars.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

EURUSD Analysis, 1.12 in Sight after Break Out of Multi Week Range

Forex Analysis
EURUSD Update, 1.12 in Sight after Break Out of Multi Week Range

EURUSD, Daily

The EURUSD finally broke out of its multi week trading range and jumped +200 pips to close above 1.1100 for the first time since August 2015. The EURUSD market has been looking for an excuse to annoy Mario Draghi at the ECB and take the EUR higher and yesterday’s sluggish U.S. economic data was the kind of catalyst that the market has been looking for.

Feb 4 EURUSD SRL

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Macro Events & News for 02.04.2016

Forex Analysis
Macro Events & News

FX News Today

Wednesday Trade was Pips Galore for FX Traders!

The U.S. Dollar Index dropped to multi month lows in the wake of disappointing U.S. ISM data, although the ADP employment data was not all that bad. However, the weak ISM report was enough to overwhelm the USD longs.

The EURUSD finally broke out of its multi week trading range and jumped +200 pips to close above 1.1100 for the first time since August 2015 . The EURUSD market has been looking for an excuse to annoy Mario Draghi at the ECB and take the EUR higher, and yesterday’s sluggish U.S. economic data was the kind of catalyst that the market has been looking for.

Oil prices rallied up $3 to close at $32.70 up nearly 7% for the day. The sharp move in oil price helped to support commodity related currencies with the CAD surging gains against the USD which pushed the USDCAD lower by over +260 pips to close near the 1.3780’s and the AUD moving higher by +130 pips.

The GBP broke to the upside and climbed 200+ pips during Wednesday trade, ahead of today’s “BoE’s Super Thursday” with the inflation report to be published alongside the minutes and the policy announcement.

Today’s European calendar has ECB economic bulletin, ECB speech from Draghi. The U.S. calendar has weekly jobless claims, prelim Q4 productivity, and factory orders. While the Canadian calendar quiet, employment, trade and Ivey PMI all due Tomorrow.

Main Macro Events Today

• EUR ECB President Draghi’s Speech: Draghi sends dovish signal. Speaking at a conference in Frankfurt the ECB head said monetary policy can’t be relaxed about the series of supply shocks, adding that Euro-area challenges are no reason for ECB inaction and that adopting a wait and see attitude would carry risks and that “the risks of acting too late outweigh the risks of acting too early”.

• GBP BoE Interest Rate Decision: BoE expected to keep policy on hold, focus on minutes and inflation report.

• USD U.S. Initial Jobless Claims: U.S. initial jobless claims are expected to be 268k (median 280k) in the week-ended January 30.

• USD Prelim Non-farm Productivity: Q4 nonfarm productivity should be -3.5% in the first release from 2.2% in Q3.

• USD Factory Goods: December factory orders are expected to decline 3.0% with inventories up 0.3%. Forecast risk: downward, given the weaker top line durable inventory numbers. Market risk: downward, as weaker data could impact the path of rate hikes.

Janne Muta

Chief Market Analyst

If you wish to get the latest forex brokers news,you can visit our Top Forex Brokers official website:

http://www.topforexbrokerscomparison.com

About Janne Muta, HotForex’s Chief Market Analyst

jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

Traders and fund managers from around the world have benefited greatly from Janne’s technical analysis methods. The indicators and price action based trading models he has developed, have, after rigorous testing, proven to be invaluable in identifying high probability trades.


“My mission is to help you to become a confident and successful trader”

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