Tag Archives: charting tools

Dutch Retail Sales Drop In April

Dutch retail sales dropped in April, as demand slumped amid a lockdown in the country to slow the spread of the coronavirus, or Covid-19, figures from the Central Bureau of Statistics showed on Friday. Retail sales declined 1.5 percent year-on-year in April, after a 3.3 percent increase in March. The measures against the spread of coronavirus disease had a diverse effect on the non-food sector, the agency said. Sales of non-food decreased a record 15.8 percent in April, while sales in food stores rose 6.1 percent. Clothing and footwear sales fell at an accelerated pace. Do-it-yourself segment sales logged a record gain in April, in line with the March trend. Online sales gained 62.4 percent compared to the same month last year. The retail sales volume decreased 3.5 percent in April. The material has been provided by InstaForex Company – www.instaforex.com…

BTC analysis for May 29,.2020 – Broken upward channel and potential for the bigger drop towards the $8.750

Corona virus summary: According to an official announcement on the website of the UK Government, authority “unlocked” £150 million from dormant accounts “for coronavirus response.” Despite the word selection, to many, this sounds much like the Government seized this amount from accounts that were inactive over a certain period. This all is made possible under the so-called Dormant Asset Scheme in the UK, which is planned to expand its purview over a “range of financial assets.” An interesting take on this is provided by a recent report from Zero Hedge, which outlines that this scheme steps on the principles of laws that were prevalent back in feudal times. Among the main issues with that, apart from the fact that the Government has a legal claim over private property, is the fact that the “dormant bank account” rules can be “incredibly loose.” Technical analysis: Trading recommendation: The material has been provided by InstaForex Company – www.instaforex.com…

Trading plan for May 29, 2020: EUR/USD – take profit!; Coronavirus updates from around the world.

Coronavirus updates from around the world, as of May 29: the second wave is on the decline, but a third is possible.In the US, the number of new cases jumped to 22 thousand, and the number of deaths arose to more than 1,000 per day. Regions recorded these increases, with New York contributing about 10% of the cases.A record-increase was also observed in Brazil, with new cases jumping to 24 thousand. Developed countries are suggested to help Brazil with doctors and funds.Meanwhile, India will be declared as the new center of the pandemic, if the situation in the country continues to deteriorate (if the growth of new cases accelerate even further).Although there is a decline in deaths around the world (deaths in the US have decreased), new cases are still at a high level (particularly in Brazil and India).In Russia, the situation in Moscow has improved, but the statistics in other regions seem to have increased. In total, Russia records 387 thousand coronavirus cases, of which 224 thousand are “active”.EUR/USD – take profit! Open buy positions from 1.0855. At the time of this writing, the quotes are at 1.1100, so wait for the pair to move about 245 pips before closing….

Malaysia Producer Prices Decline At Faster Pace In April

Malaysia’s producer prices declined at a faster rate in April, figures from the Department of Statistics showed on Friday. The producer price index fell 5.1 percent year-on-year in April, following a 1.9 percent decrease in March. Prices fell for the second straight month. The statistical office said this was the lowest rate of change recorded since November 2015. Among sectors, prices of mining declined 58.3 percent annually in April and water supply decreased 1.0 percent. Meanwhile, prices for agriculture, forestry and fishing grew 8.7 percent. Prices for electricity and gas supply, and manufacturing increased 0.2 percent and 0.1 percent, respectively. On a month-on-month basis, producer prices declined 2.7 percent in April, following a 3.0 percent fall in the preceding month. The material has been provided by InstaForex Company – www.instaforex.com…

Hong Kong issue: the denouement is yet to come

The USD index continues to decline. The prolonged silence of Donald Trump regarding the recent events in China is affecting the US dollar negatively, so particular caution should be exercised today with regards to trading decisions. Significant changes could occur at the forex market at the end of the trading week.The Chinese parliament has ratified the extension of the already existing national security law in Hong Kong, in which the National People’s Congress will vote for its approval, presumably in June, and then the elite party will approve it, therefore most likely coming into force no earlier than August or September. Given the current situation in China, the Beijing initiative will undergo the necessary legislative processes, with only the procedural issues remaining. Much has already been said about the consequences of this law, as it “opens the gates” of Hong Kong to the Chinese security forces, greatly enhancing the influence of mainland China on the former British colony.In the forex market, the reaction of the US to the bill played a huge role on the dynamics of the rates. Although at the time of this writing, they have not been fully affected yet, the USD index has already shown small reactions,…

Tensions between the US and China escalates once again

On Thursday, China moved forward with a resolution to introduce national security laws in Hong Kong to quell protests that befall there.The proposal came after the US House of Representatives passed a bill on Wednesday, ruling out sanctions to Chinese officials involved in the suppression of Uighurs. It stemmed from the decision of the US that Hong Kong is no longer autonomous from China, making President Donald Trump take actions, such as the cancellation of special trade agreements, which is of great importance to many large US companies doing business in Hong Kong. However, despite all those dissents, the Chinese government still proceeded to ratify the so-called national security law, which supposedly tightens control over Hong Kong. The move further angered the United States, and the relations between the two countries continue to deteriorate.The increased hostility between Beijing and Washington over China’s human rights policies, including its relations with Hong Kong and the treatment of the Muslim minority, reinforces the demand of safe haven assets.”The souring US-China relations have returned to the forefront of the market,” wrote Jim Wyckoff, senior analyst at Kitco.com.Gold was also affected by the negative economic performance of the US dollar.US GDP has dropped by 5%, durable…

Australia Private Sector Credit Steady In April

Private sector credit in Australia was flat on month in April, the Reserve Bank of Australia said on Friday – following the 1.1 percent increase in March. On a yearly basis, credit rose 3.6 percent – unchanged from the March reading. Housing credit was up 0.2 percent on month and 3.1 percent on year, while personal credit dropped 3.0 percent on month and 9.3 percent on year and business credit added 0.1 percent on month and 6.7 percent on year. Broad money gained 2.9 percent on month and 9.3 percent on year. The material has been provided by InstaForex Company – www.instaforex.com…

Elliott wave analysis of EUR/JPY for May 29, 2020

EUR/JPY has rallied to a high of 119.39 or just above our ideal target at 119.31. This has completed wave iii/ and we should now see a correction in wave iv/. As wave ii/ was a simple deep zig-zag correction, we should expect a complex flat correction, that doesn’t correct more than 38.2% of wave iii/. Then the pair may try to hit 117.84. Wave v/ may climb to at least 120.30 and possibly even closer to 121.16 where we see solid resistance. In the short-term, a break below minor support at 118.45 will confirm that wave iii/ has peaked and wave iv/ is in motion. R3: 120.29R2: 119.65R1: 119.39Pivot: 118.80S1: 118.45S2: 118.20S3: 117.84Trading recommendation: We took profit of 75% of our long EUR position at 119.20 enjoying a nice profit of 355 pips. We will re-buy EUR at 118.00 The material has been provided by InstaForex Company – www.instaforex.com…

Forecast for USD/JPY on May 29, 2020

USD/JPY
The US stock market (S&P 500) lost 0.21% on Thursday due to weak economic data: the volume of orders for durable goods fell by 17.2% in April, the second estimate of GDP for the first quarter was revised down from -4.8 % to -5.0% against an unchanged forecast (i.e. -4.8%). The Japanese Nikkei 225 index is down 0.65% today in the Asian session. The currency pair itself, following the stock market, turned down from the signal level of 107.78 yesterday and approached the support of the embedded price channel line (107.37) this morning, overcoming which will allow the price to fall to the MACD indicator line (107.12), then, in case it leaves the area under the MACD line, to the target level of 106.75.
The price has consolidated below the MACD line on the four-hour chart, the Marlin oscillator is in the negative zone. The probability of the bears’ success, that is, overcoming the support of 107.37 is 62-65%.
The material has been provided by InstaForex Company – www.instaforex.com…

Italy Producer Prices Fall For Tenth Month; Consumer Confidence Weakens

Italy’s producer prices fell for the tenth straight month in April, data from the statistical office Istat showed on Thursday. The producer price index declined 5.1 percent year-on-year in April, following a 3.7 percent fall in March. On a monthly basis, producer prices decreased 2.6 percent in April, following a 1.1 percent fall in the preceding month. In the domestic market, producer prices fell 3.4 percent month-on-month and declined by 6.7 percent from a year ago in April. Producer prices in the foreign market fell by 0.7 percent monthly in April and decreased 1.0 percent annually. Separate data from the statistical office showed that the consumer confidence decreased to 94.3 in May from 100.1 in March. Economists had expected a score of 88.5. The economic confidence index fell to 71.9 in May from 94.4 in March. The expectations index decreased modestly. The April data was interrupted due to coronavirus emergency, the agency said. The material has been provided by InstaForex Company – www.instaforex.com…