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[QUOTE="Solid ECN, post: 206901, member: 83167"] [JUSTIFY][ATTACH type="full"]21074[/ATTACH][/JUSTIFY] [HR][/HR] [HEADING=1]The United States of America[/HEADING] [JUSTIFY][B]USD is strengthening against JPY and has ambiguous dynamics against EUR and GBP.[/B] Due to a lack of significant economic releases, investors focus on the monetary policy of the US Federal Reserve. The market is preparing for a sharper increase in interest rates and a significant reduction in the balance sheet, but investors fear that this will cause the US economy to slow down and even start a recession, as evidenced by the inversion of the yield curve of 10-year and 2-year bonds. However, several experts have come to the conclusion that this sign does not mean an immediate decline, and negative dynamics may begin to develop within a few years. Over the weekend, Cleveland Fed President Loretta Mester said she still believes the US Federal Reserve will be able to control inflation without causing serious damage to the economy.[/JUSTIFY] [HR][/HR] [HEADING=1][JUSTIFY]Eurozone[/JUSTIFY][/HEADING] [JUSTIFY][B]EUR is strengthening against JPY and has ambiguous dynamics against USD and GBP.[/B] Due to a lack of significant economic releases, investors are focused on the first round of the presidential elections in France, which was won by the incumbent head of state Emmanuel Macron but it was not as confident as experts expected. The gap between him and the far-right candidate Marine Le Pen was only 4%, reinforcing fears that she could take the presidency in the second round, and France would move away from common European economic standards and even abandon the euro. At present, analysts see the likelihood of Le Pen winning the election as very small, so the second Eurozone economy is unlikely to expect additional shocks.[/JUSTIFY] [HR][/HR] [HEADING=1][JUSTIFY]The United Kingdom[/JUSTIFY][/HEADING] [JUSTIFY][B]GBP is strengthening against JPY and has ambiguous dynamics against EUR and USD.[/B] Today in the UK, a large block of economic statistics was released. UK GDP grew by 0.1% MoM, falling short of forecasts of 0.3%, and slowed down from 9.5% to 10.5% YoY, more than experts expected, which may affect further actions of the Bank of England. The regulator may continue to tighten monetary policy but will do it more carefully. The volume of industrial production in the country also did not please investors: the indicator decreased by 0.6% MoM instead of the projected growth of 0.3% and decreased more than experts expected – from 3.0% to 1.6% YoY.[/JUSTIFY] [HR][/HR] [HEADING=1][JUSTIFY]Japan[/JUSTIFY][/HEADING] [JUSTIFY][B]JPY is weakening against its main competitors – EUR, USD, and GBP.[/B] Today, Bank of Japan officials lowered their estimates for most of the country's regional economies (the changes affected eight major regions) amid rising commodity prices and a possible correction in overall forecasts. Bank of Japan member Shinichi Uchida said the regulator would be supported by an ultra-loose monetary policy as the current rise in inflation was fueled by fuel spending and could hurt the country's fragile economic recovery. At the same time, the head of the department, Haruhiko Kuroda, warned of very high uncertainty amid the Ukrainian crisis.[/JUSTIFY] [HR][/HR] [HEADING=1][JUSTIFY]Australia[/JUSTIFY][/HEADING] [JUSTIFY][B]AUD is moderately weakening against its main competitors – JPY, USD, EUR, and GBP.[/B] Due to a lack of significant economic releases, investors focus on politics: on May 21, parliamentary elections will be held in Australia. The election campaign began today, and it cannot yet be stated that it has been successful for the current Prime Minister, Scott Morrison. According to polls, the Liberal Party, which he heads, could lose up to ten seats in parliament, but it is too early to talk about Morrison's resignation.[/JUSTIFY] [HR][/HR] [HEADING=1][JUSTIFY]Oil[/JUSTIFY][/HEADING] [JUSTIFY][B]Oil quotes are correcting down today.[/B] The coronavirus pandemic in China still exerted pressure on prices, which led to the blocking of a major financial and industrial center – Shanghai. Currently, China is the largest energy importer in the world, and the Shanghai area consumes 4% of all the “black gold” purchased by the country; and further tightening of lockdown measures could lead to a decrease in consumption. Investors are looking forward to bringing to market the 60M barrels promised by the International Energy Agency from government stockpiles of key consumers. Last week, the US oil rig count increased from 533 to 546 units, putting pressure on quotes.[/JUSTIFY] [/QUOTE]
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