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  • Date : 7th May 2018.

    MACRO EVENTS & NEWS OF 7th May 2018.


    THE ECONOMIC WEEK AHEAD



    Main Macro Events This Week

    Global growth has clearly moderated in 2018. And rising interest rates, geopolitical risks, and possible trade headwinds exacerbated worries. Many key reports have disappointed so far this year, including the March and April U.S. jobs report, Q1 UK GDP, retail sales, and various regional PMIs. Fears over real shooting wars with North Korea, Syria, Iran and possible involvement with Russia, hit business and consumer sentiment hard, while angst over a trade war has impacted too. One major result from the slide in momentum is that it will keep central bank normalization at bay.

    United States: The U.S. jobs report disappointed on nearly every metric, and especially in the service sector. The April CPI (Thursday) is expected to rise 0.2% following a 0.1% dip in March, which was largely due to the 2.8% drop in energy prices. Meanwhile, core CPI should rise 0.2% as well, supported by ongoing gains in shelter and housing. The y/y rate should edge up to 2.2% from 2.1% in March, which would be the highest since a similar gain in February 2017. April PPI (Wednesday) also is expected to rise 0.2% overall and for the core, after 0.3% increases for both in March. The annual rates would slow to 2.7% y/y from 3.0% y/y for the headline, and 2.4% y/y from 2.7% y/y for the core.

    Fedspeakers are back now that the FOMC is out of the way and Earnings remain a focal point.

    Canada: April employment highlights this week’s calendar. The jobs report (Friday) is seen revealing a 25.0k rise after the 32.3k gain in March. The unemployment rate should hold at a 40-year low 5.8%. Housing starts (Tuesday) are expected to expand at a 220.0k unit pace in April from the 225.2k in March. Building permit values (Wednesday) are expected to fall 1.0% in March after the 2.6% gain in February. The March new home price index (Thursday) is projected to slip 0.1% after the 0.2% decline in February.

    Europe: Data releases focus mainly on Germany. German March manufacturing orders are seen rising 0.5% m/m after 0.3% m/m in the previous month, confirming that the manufacturing sector remains robust for now, although with the earlier timing of the Easter holidays the forecast comes with a larger error margin and downside risks. This is even more true for March industrial production numbers (Tuesday), which include construction and energy production. We are looking for a rebound of 0.5% m/m after the weather related -1.6 m/m contraction in February. German trade data is also due and we expect data to back expectations for a marked slowdown in German GDP growth to just around 0.3% q/q in Q1.

    UK: The week ahead is highlighted by the BoE’s Monetary Policy Committee (announcing Thursday) – no change expected following the plethora of weak data especially Q1 GDP. The data calendar brings the April BRC retails sales report (Tuesday), which we expect to show a contraction of 0.8% m/m, which would payback for the strong 1.4% m/m gain in March, and March industrial production and trade numbers (both Thursday). We expect industrial production to rise 0.2% m/m (median 0.1%) after 0.1% m/m growth in the month prior.

    Japan: March personal income and PCE data are due (Tuesday), with the latter seen up 1.0% from the prior 0.1% increase. The March current account surplus (Thursday) should widen to JPY 2,800 bln from 2,076 bln. April bank loan figures are also due (Thursday).

    China: April trade report (Tuesday) is expected to reveal a $20.0 surplus, versus the previous $33.7 bln surplus. April inflation (Thursday) should show CPI slipping to a 2.0% y/y from 2.1%, while April PPI should warm to 3.5% from 3.1%.

    Australia: Retail sales (Tuesday) are expected to rise 0.3% in March after the 0.6% gain in February. Housing finance (Friday) is seen growing 1.0% in March after the 0.2% dip in February.

    Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

    Please note that times displayed based on local time zone and are from time of writing this report.

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.


    Stuart Cowell
    Senior Market Analyst
    HotForex


    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.
    HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

    Comment


    • Date : 8th May 2018.

      MACRO EVENTS & NEWS OF 8th May 2018.




      FX News Today

      Asian Wrap: Stock markets remained underpinned during the Asian session, as concerns about global trade ease and 10 year Treasury yields hold below 3%. Oil prices remain in focus ahead of Trump’s decision on the future of the trade accord with Iran. Oil prices are trading marginally below the USD 70 per barrel mark. The 10-year Treasury yield is up 0.4 bp at 2.953%, 10-year JGBs are up 0.6 bp at 0.041%. U.S. and U.K. stock futures are moving higher and in Asia Chinese markets outperformed again as optimism on future trade returns. The CSI 300 is up 1.08%, the Hang Seng gained 1.24%, while Nikkei and Topix are up 0.21% and 0.09% respectively.

      German Data – Trade Surplus Increased & Strong Industrial Production: Germany posted a sa trade surplus of EUR 22.0 bln in March, up from EUR 19.4 bln in the previous month, largely thanks to a rebound in exports, which rose 1.7% m/m, after two consecutive months of contraction. Imports declined for a third month. The March number left the accumulated surplus for the first quarter at EUR 63.1 bln, down from EUR 64.2 bln in the last quarter of 2017 and suggesting that net exports didn’t contribute much to overall growth in Q1. German industrial production stronger than expected. Production rebounded 1.0% m/m in March from the -1.6% m/m contraction in the previous month. There was a broad rebound across all manufacturing groups, energy production expanded again and construction rose 0.6% m/m, after falling -3.1% m/m in the previous month, which confirms that the bad weather was largely to blame for the weak February numbers.

      Charts of the Day



      Main Macro Events Today

      * TRUMP Speech – Expectations – He will announce that the USA is leaving the Iran deal or as a minimum, extending the deadline. All of which is OIL price positive.

      * Australian Federal Budget Release – Expectations – Some tax Relief for low income families and businesses, plus significant infrastructure spending.

      * Speeches out of the Fed’s Powell – “Monetary Policy and Capital Flows” – one to watch direct implications for potential future policy

      Support & Resistance Levels



      Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

      Please note that times displayed based on local time zone and are from time of writing this report.

      Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.


      Stuart Cowell
      Senior Market Analyst
      HotForex


      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.
      HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

      Comment


      • Date : 9th May 2018.

        MACRO EVENTS & NEWS OF 9th May 2018.




        FX News Today

        European Outlook: Bund yields quickly backed up from opening lows and the 10-year is now up 0.8 bp on the day at 0.566%, Italian 10-year yields also continue to rise amid ongoing election jitters, after jumping 10 bp yesterday. Curves continue to steepen as the short end outperforms. European stock futures are mixed, with GER30 and UK100 moving higher as Sterling and Pound continue to decline against the dollar, with the UK100 shrugging off a slump in BRC retail sales in April. Oil prices are back up above USD 70 per barrel, but the overall reaction to Trump’s confirmation that the U.S. will pull out of the Iran nuclear deal has been limited so far. Still to come Norway and Sweden release inflation data, France has production numbers for March.

        FX Update: The dollar has traded firmer, led by a 0.5% rise in USDJPY after the Tokyo fixing today. The USD index is showing a 0.2% gain, posting a new four-month high at 93.34, and EURUSD logged a fresh 2018 low at 1.1830. USDJPY lifted above 109.50 for the first time since last Thursday after breaking out of a narrow consolidation around the 109.00 level. EURJPY and AUDJPY also rebounded out of respective trend lows that were posted yesterday amid a pronounced bout of yen selling that was seen in Tokyo. As expected, President Trump announced that the U.S. was pulling out of the international nuclear deal with Iran, though market fallout had been muted so far. Both Tehran and other signatories have indicated that there is a possibility that the deal could remain effective, subject to discussions in the coming weeks, which has helped limit any fallout. Oil prices have gained, but have remained below the trend highs seen on Monday, and stock markets have been mostly near flat.

        Charts of the Day



        Main Macro Events Today

        * CAD Building Permits – Expectations – expected to rise 0.2% overall and for the core (medians same), after 0.3% increases for both in March. The annual rates would slow to 2.7% y/y from 3.0% y/y for the headline, and 2.4% y/y from 2.7% y/y for the core.

        * US PPI and core PPI – Expectations – PPI is expected to rise 0.2% in April. Goods prices are anticipated to be down around 0.1% and Services prices should rise 0.3%.

        * Crude Oil Inventories

        Support & Resistance Levels



        Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

        Please note that times displayed based on local time zone and are from time of writing this report.

        Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.


        Andria Pichidi
        Market Analyst
        HotForex


        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.
        HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

        Comment


        • Date : 10th May 2018.

          MACRO EVENTS & NEWS OF 10th May 2018.




          FX News Today

          Asian Market Wrap: 10-year Treasury yields are down -0.9 bp and back below the 3% mark at 2.98% as tensions in the middle East rise. 10-year JGB yields meanwhile picked up 0.2 bp to 0.043%, as stock markets moved higher and the yen declined. Automakers and banks underpinned Japanese indices and a weaker yen, saw Nikkei rising 0.38%. Stocks are cautiously higher across other Asian markets as well. The Hang Seng outperformed and moved up 0.81% and the CSI 300 is up 0.16%. North Korean tensions seem to be easing, but tensions in the middle East are building and oil prices are up and the WTI future is trading at USD 71.63 per barrel, as Israel said it struck targets in Syria after Iranian forces fired missiles at the Golan Heights.

          FX Update: USDJPY edged out an eight-day high at 109.92 during the Tokyo session, but left the recent trend high at 110.03 unchallenged. The yen maintained a relatively soft tone amid a backdrop of stock market gains on Wall Street and in Asia. Oil prices, meanwhile, logged a new 42-month high. EURUSD’s downtrend, now in its fourth consecutive week, extended again yesterday, with the pair logging a fresh 2018 nadir at 1.1822. Cable has been making time in the mid 1.3500s, consolidating into today’s BoE policy announcement after posting a four-month low at 1.3484. After a run of sub-forecast data there is now a strong consensus for the BoE to refrain from hiking today. USDCAD traded softer over the last day after yesterday posting a seven-week high at 1.2997. The pair has settled in the lower 1.2800s. The surge in oil prices has returned some demand for the Canadian dollar given the benefit to Canada’s terms of trade. The NZD came under some pressure after the RBNZ delivered an expected unchanged policy announcement, leaving the cash rate at 1.75%, but added guidance that it would remained unchanged for a “considerable” period. NZD-USD logged a five-month low at 0.6902.

          Charts of the Day



          Main Macro Events Today

          * BOE Monetary Policy Summary – Expectations – BoE expected to leave the repo rate at 0.50% and the nascent tightening cycle in limbo after the BoE tightened for the first time in over a decade last November, though it is widely expected a hike to come in August. A Reuters poll, published just earlier, found 59 out of 62 economists expecting the BoE to hold policy unchanged. This compares to the survey Reuters published on April 18th that found 69 of 76 expecting a 25 bp rate hike.

          * MPC Bank Rate Votes – Expectations – 7 Votes for the rate to remain at 0.5%, while 2 for a Rate hike.

          * BOE’s Governor Carney speech

          * US CPI & Core CPI – Expectations – The April CPI is expected to rise 0.3% following a 0.1% dip in March, which was largely due to the 2.8% drop in energy prices. Meanwhile, core CPI should rise 0.2% as well, supported by ongoing gains in shelter and housing.

          Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

          Please note that times displayed based on local time zone and are from time of writing this report.

          Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.


          Andria Pichidi
          Market Analyst
          HotForex


          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.
          HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

          Comment


          • Date : 11th May 2018.

            MACRO EVENTS & NEWS OF 11th May 2018.




            FX News Today

            Asian Market Wrap: Asian stock mostly moved higher, after a good close in the U.S. which was underpinned by a tame inflation report that reduced pressure on the Fed to tighten again. The Nikkei is up 0.93%, the Topix gained 0.77% and the Hang Seng is up 1.31%. Mainland Chinese bourses underperformed and the CSI is down -0.20%, but overall a solid result in Asia and the MSCI Asia Pacific Index is heading for the best week since February, as U.S. yields and USD retreated. U.S. stock futures are also moving higher in tandem with U.K. futures. Treasury yields meanwhile have come up slightly from the post inflation lows and the 10-year is up 0.2 bp at 2.964%, while 10-year JGB’s are down -0.1 bp at 0.039%.

            FX Update: USDJPY is near net unchanged on the day so far. There has been some chop, with the pair posting an intraday high of 109.57 before taking a near 40-pip tumble to a 109.19 low at the Tokyo fixing (00:50 GMT). USD-JPY subsequently recouped to around 109.50, fractionally up on the day’s opening levels. There have been no data or developments of note out of Japan today. The uptrend that commenced from sub-105.0 levels looks to have lost thrust. The U.S. yield curve is now the flattest its been since 2007, with long dated yields coming off while short end yields remain elevated, pricing in Fed tightening over the next year. With a lot baked in with regard to expected Fed tightening, and with high oil prices looking to sustain and related geopolitical uncertainties rising in prominence — U.S. versus Iran relations in particular, but also Venezuela’s collapsing oil industry and trade tensions — there looks to be a growing chance for USD-JPY to correct lower, driven by a retreat in the dollar and/or safe haven demand for the yen.

            Charts of the Day



            Main Macro Events Today

            * CAD Jobs Numbers – Expectations – expected to slip to 17.4k from big beat last month at 32.3k. Unemployment rate to remain unchanged at 5.8%

            * US UoM Consumer Sentiment & Inflation Expectations – both expected to slip from 98.8 and 2.7% respectively

            * Draghi Speech – Little monetary policy implications at scheduled speech in Florence but you never can tell.

            Support & Resistance Levels



            Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

            Please note that times displayed based on local time zone and are from time of writing this report.

            Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.


            Stuart Cowell
            Senior Market Analyst
            HotForex


            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.
            HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

            Comment


            • Date : 14th May 2018.

              MACRO EVENTS & NEWS OF 14th May 2018.




              Main Macro Events This Week

              Main Macro Events This Week
              Stocks have regained their footing in early May as the plethora of worries which knocked global equities lower to start the year have faded. Concerns over a more aggressive Fed tightening stance, fears over rising price pressures, worries over a slowing in growth and possible recession, uncertainty over a trade war, not to mention geopolitics and the angst over N. Korea, have all eased, though unilateral reimposition of Iran sanctions by the U.S. have contributed to fresh trend highs on WTI crude above $71 bbl. Yet investors have refocused on earnings, which have been stellar. Specifically, a less hawkish tone from the FOMC, softening in inflation data, and indications of strengthening in U.S. Q2 GDP growth to 3%, have added to the bullish tone on stocks, even as the dollar rally has paused to digest these developments and the cooler Fed outlook.

              United States: This week’s U.S. economic calendar will feature updates on retail sales, producer sentiment, housing starts, industrial production and business inventories. Overall the data should be positive, with retail activity estimated to extend the prior month’s gains, producer sentiment remaining strong, and housing starts still at a respectable pace. Industrial production growth should remain strong in Q2, following out-sized Q4 and Q1 gains. Inventories, should extend their rising trend in March as well, and may modestly subtract from GDP growth in Q2.

              Canada: In Canada CPI (Friday) highlights a busy calendar. Total CPI is expected to jump 0.5% in April (m/m, NSA) after the 0.3% gain in March, as gasoline prices surged. The CPI is seen accelerating to a 2.5% y/y pace in April from the 2.3% y/y clip in March. The BoC has expressed comfort with the pop in CPI, which has been above the 2.0% target mid-point since February, as the fall-off in temporary factors (previously restraining CPI) and minimum wage hikes provide what they see as a temporary boost. Manufacturing shipment values (Wednesday) are projected to gain 2.0% in March after the 1.9% gain in February. Retail sales (Friday) are seen growing 0.3% in March after the 0.4% rise in February. Bank of Canada Deputy Governor Schembri speaks (Wednesday) on “Reaching our Potential: Challenges and Opportunities. His speech is available on the BoC’s website at 12:00 ET.

              Europe: The ECB remains on course to phase out QE by the end of the year come what may, but this will only end the ongoing expansion of the central bank’s balance sheet; it still leaves officials with the task of scaling back support and returning policy back to normal. However, while rates are expected to be finally lifted next year, officials have turned cautious after a run of weak data. With that in mind the majority of this week’s data is too backward looking to really change the overall outlook. Against that background comments from ECB officials, including Draghi, Coeure, Praet (all Wednesday) and Constancio (Thursday) are all likely to sound cautiously optimistic on the growth outlook, while admitting ongoing uncertainties and risks.

              The main focus on the data front is German ZEW investor confidence for May. Meanwhile, the first reading of German Q1 GDP (Tuesday) is likely to show a marked deceleration in the quarterly growth rate to just 0.3% q/q , versus 0.6% q/q in Q4 last year. This would pretty much mirror developments in other major Eurozone economies and leave the overall Eurozone GDP number (also Tuesday), on course to be confirmed at 0.4% q/q , unchanged from the preliminary reading and also sharply lower than in Q4. Again, there is a lot of noise in the data and the main question not just for the ECB is now whether this is due to temporary factors, or the sign of a broader downtrend in growth. Inflation numbers meanwhile are backward looking and Italian April HICP expected (Tuesday), to be confirmed at 0.6% y/y, the German HICP rate (Wednesday) at 1.4% y/y and the overall Eurozone rate (Wednesday) at 1.2% y/y. Core inflation fell back to just 0.7% y/y in April, but that was impacted by base effects with services price inflation falling back earlier than last year from the Easter spike. The calendar also has Eurozone trade (Thursday) and current account (Friday), but that will be overshadowed by the second GDP reading.

              UK: Last week’s unchanged monetary policy decision from the BoE, the trimming of GDP and CPI forecasts, and the wary-but-still upbeat tone of MPC members, all met expectations, near enough. The calendar this week is quiet, highlighted by monthly BoE labour data (Tuesday). The unemployment rate is expected to hold steady at the multi-decade low of 4.2% . Average household income is expected to rise 2.6% y/y in the with-bonus figure and to a new cycle high rate of 2.9% y/y in the three months to March, which should keep BoE tightening expectations alive.

              Japan: Tuesday brings the March tertiary industry index, which is penciled in at -0.3% versus the prior unchanged outcome. Preliminary Q1 GDP (Wednesday) is forecast at up 0.1% from the previous 1.6% increase. Revised March industrial production is due Wednesday as well. March machine orders (Thursday) are expected down 2.0% from the 2.1% previous rise. National April CPI (Friday) is forecast at up 0.6% y/y from up 1.1% overall, and up 0.7% y/y from 0.9% on a core basis.

              China: April fixed investment (Tuesday) should be up 7.5% y/y as it was in March. April industrial production (Tuesday) is seen up 6.5% y.y from 6.0%, while April retail sales are penciled in at up 10.2% from 10.1%.

              Australia: The wage cost index (Wednesday) is expected to rise 0.6% in Q1 (q/q, sa) after the matching 0.6% gain in Q4. Employment (Thursday) is seen rising 10.0k in April after the 4.9k gain in March. The unemployment rate is projected at 5.5%, identical to March. The Reserve Bank of Australia’s minutes to the May meeting are due Tuesday. RBA Deputy Governor Debelle (Tuesday) will discuss “The Outlook for the Australian Economy” at the CFO Forum 2018 in Sydney. Deputy Governor Debelle (also Tuesday) speaks on “Interest Rate Benchmark Reform” at the ISDA forum, Hong Kong via video link.

              Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

              Please note that times displayed based on local time zone and are from time of writing this report.

              Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.


              Andria Pichidi
              Market Analyst
              HotForex


              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.
              HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

              Comment


              • Date : 18th May 2018.

                MACRO EVENTS & NEWS OF 18th May 2018.




                FX News Today

                Asian Market Wrap: 10-year Treasury yields are unchanged on the day at 3.11%, 10-year JGBs marginally higher at 0.052% despite a dip in CPI inflation and long yields were mixed elsewhere across Asia. Stocks also struggled for direction. Topix and Nikkei managed gains of 0.31% each, the Hang Seng is up 0.19%, but the CSI 300 slightly down, Shanghai com and Shenzhen Comp narrowly mixed. Treasury yields near 2011 highs continue to weigh on investor sentiment, but U.S. stock futures are higher amid reports that China offered the US a USD 200 bln reduction in the bilateral trade gap. Oil prices are holding near the 2014 highs amid mounting signs of shrinking stock piles and the front end WTI future is at USD 71.61 per barrel.

                FX Update: The yen have traded softer into the London interbank open, which saw USDJPY touch 111.00 for the first time since January while concurrently lifting yen crosses. AUDJPY, for instance, clocked a one-month high. A dip in Japanese inflation data weighed on the yen. Headline April CPI fell to a rate of 0.6% y/y from 1.1% y/y in March, while core CPI ebbed to 0.7% y/y from 0.9% y/y. The outcomes undershot market expectations, and should maintain the BoJ’s ultra-accommodative monetary policy. EUR-USD, meanwhile, lifted back above 1.1800, though remain well off yesterday’s high at 1.1837. AUDUSD and Cable also gained, though similarly remained comfortably below the previous day’s peak. The surge in U.S. yields should keep the dollar a buy-on-dips trade.

                Charts of the Day



                Main Macro Events Today

                * EU Trade Balance – expected at 20.7 B surplus slightly below the previous reading at 21 B.

                * Canadian CPI – Expectations – CPI is expected to grow 0.4% (m/m, nsa) in April after the 0.3% gain in March. The CPI is projected to grow at a 2.3% y/y pace in April, matching the 2.3% rate of increase in March. The 2.3 y/y clip in March was the fastest rate since the 2.4% pace in October of 2014.

                * Canadian Retail Sales – Expectations – Retail sales are expected to rise 0.3% in March after the 0.4% gain in February. The ex-autos sales aggregate is projected to rise 0.5% in March after the flat reading in February. The CPI’s gasoline price index rose 2.9% in March after the 0.7% dip in February. Hence, gasoline station sales should provide a boost to total and ex-autos sales retail sales.

                Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

                Please note that times displayed based on local time zone and are from time of writing this report.

                Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.


                Andria Pichidi
                Market Analyst
                HotForex


                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.
                HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

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