Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Fundamental Analysis
Fundamental updates by Solid ECN
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Solid ECN, post: 206808, member: 83167"] [HEADING=1][CENTER]Morning Market Review[/CENTER][/HEADING] [HR][/HR] [JUSTIFY][B]EURUSD[/B] The European currency shows a moderate decline against the US dollar during the Asian session, building on the "bearish" momentum formed on March 31, when EUR/USD retreated from its March 1 local highs. Euro positions remain under pressure amid worsening prospects for global economic recovery due to the looming crisis associated with the conflict over Ukraine. Western countries continue to increase unprecedented sanctions pressure on the Russian economy, which, in turn, stimulates further inflation in almost all developed countries. In this regard, many financial regulators have moved to tightening monetary policy, but the European Central Bank (ECB) until recently tried to take a wait-and-see attitude. At the moment, it is expected that the European regulator will raise the rate in the summer, but plans for the near future may still change. Macroeconomic statistics from Europe published yesterday turned out to be mixed. The volume of Industrial Production in Germany in February rose by 0.2% after an increase of 1.4% a month earlier. Analysts had expected zero dynamics of the indicator. In annual terms, production rates accelerated from 1.1% to 3.2%. The volume of Retail Sales in the euro area for the same period accelerated from 0.2% to 0.3%, which was twice worse than analysts' forecasts. In annual terms, sales volumes slowed down from 8.4% to 5.0%, while the forecast was 4.8%.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]GBPUSD[/B] The British pound is traded with mixed dynamics against the US currency during the morning session, consolidating near 1.3060. Market activity remains quite low, while on Friday there are no releases of any interesting macroeconomic statistics from the US or the UK. The situation around Ukraine is still in the spotlight. Western countries continue to impose new restrictions on the Russian economy, aimed primarily at reducing or completely banning energy imports. The export of high-tech equipment, cars and agricultural machinery is also noticeably limited. However, these measures have not yet brought the expected effect, since the special military operation continues. At the same time, the position of the Western authorities has become a catalyst for updating record highs in commodity markets, which threatens to increase inflation in many regions of the world. The macroeconomic statistics of the United Kingdom released the day before only confirmed the fact of a rapid increase in inflation: the Halifax House Price Index accelerated from 0.8% to 1.4% in March, while analysts expected a slowdown in dynamics to 0.4%.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]AUDUSD[/B] The Australian dollar shows ambiguous dynamics of trading against the US dollar during today's Asian session, consolidating near 0.7470. Investors are anticipating the emergence of new drivers in the market and fixing their short profits after a rather active two-day decline, provoked by the "hawkish" protocols of the US Federal Open Market Committee (FOMC), which reflected the readiness of the US regulator to launch a program of quantitative tightening in the amount of 95 billion dollars monthly . In addition, the Fed confirmed the possibility of raising the rate during the May meeting by 50 basis points at once, and it is not excluded that this may have to be resorted to repeatedly. Additional pressure on the instrument on Thursday was exerted by weak macroeconomic statistics from Australia. In particular, experts were disappointed by the sharp drop in Exports dynamics from 6% to 0%, which, against the backdrop of growing Imports, led to a noticeable decrease in the Trade Surplus in February from 11.786 billion to 7.457 billion Australian dollars. AiG Services PMI in March fell from 60 to 56.2 points.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]USDJPY[/B] The US dollar is developing flat dynamics in tandem with the Japanese yen in Asian trading, consolidating near 124.00, above which the US currency has not been able to consolidate yet. Demand for the US currency as a safe-haven asset is still quite high; however, additional "bullish" factors are needed for the instrument to further rise to new record highs. It is possible that this could be facilitated by an increase in the US Fed's rate by 50 basis points at once or the launch of a quantitative tightening program, but this is likely to happen only in May. In the meantime, Japan is in a position to pursue an ultra-soft monetary policy, as the country has been largely unaffected by the global rise in inflation, except perhaps for minor losses from trade with Russia. Uncertain macroeconomic statistics from Japan put pressure on the yen yesterday. Coincident Index in February fell from 95.6 to 95.5 points, while the forecast was for growth to 96.4 points. Leading Economic Index for the same period fell from 102.5 to 100.9 points, which turned out to be significantly worse than market expectations at the level of 103 points.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]XAUUSD[/B] Gold prices are consolidating near 1930.00 and are preparing to end the week with a rather calm flat. The situation on the market changes little, and the demand for the precious metal remains quite high, so are the geopolitical and economic risks. In turn, traders expect further tightening of monetary policy from the US Federal Reserve, and perhaps at a faster pace than previously expected. In addition, the pressure on the instrument is also exerted by the growth in the yield of US Treasury bonds, which are again traded at local highs. The US macroeconomic statistics released yesterday did not contribute to the formation of any stable trends during the day. At the same time, the dollar reacted positively to the decline in the number of Initial Jobless Claims from 171K to 166K, while analysts expected an increase to 200K. The Initial Jobless Claims 4-week average has dropped from 178K to 170K.[/JUSTIFY] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…