Tag Archives: gold

U.S. Leading Economic Index Climbs Much More Than Expected In January

Indicating the current economic expansion will continue through the first half of 2020, the Conference Board released a report on Thursday showing a much bigger than expected increase by its reading on leading U.S. economic indicators. The Conference Board said its leading economic index climbed by 0.8 percent in January after falling by 0.3 percent in December. Economists had expected the index to rise by 0.3 percent. The bigger than expected rebound by the index reflected a sharp drop in initial jobless claims, increasing housing permits, an improvement in consumers’ outlook on the economy and positive contributions from financial indicators. “The LEI’s six-month growth rate has returned to positive territory, suggesting that the current economic expansion – at about 2 percent – will continue through early 2020,” said Ataman Ozyildirim, Senior Director of Economic Research at the Conference Board. He added, “While weakness in manufacturing appears to show signs of softening, the COVID-19 outbreak may impact manufacturing supply chains in the US in the coming months.” The report also said the coincident economic index inched up by 0.1 percent in January after showing no change in December. Meanwhile, the lagging economic index came in unchanged in January after edging…

*U.S. Leading Economic Index Climbs 0.8% In January

U.S. Leading Economic Index Climbs 0.8% In January The material has been provided by InstaForex Company – www.instaforex.com…

UK Retail Sales Rebound In January

UK retail sales rose for the first time in three months in January and at a faster than expected pace, led by a strong demand for clothing and footwear and food. The volume of retail sales including auto fuel rose 0.9 percent month-on-month, which was greater than the 0.7 percent gain economists had expected. In November and December, retail sales fell 0.8 percent and 0.5 percent, respectively. The latest increase was the biggest since March last year, when sales grew 1.1 percent. Excluding auto fuel, retail sales grew for the first time in six months, up 1.6 percent from the previous month, when it dropped 0.8 percent. Economists had forecast a 0.8 percent increase. The growth was the biggest since May 2018, when sales rose 2.2 percent. Sales of food grew 1.7 percent, while fuel sales slumped 5.7 percent, thanks to an increase in fuel prices. Non-food sales increased 1.3 percent, largely led by a 3.9 percent increase in stores selling textiles, clothing and footwear, which was the biggest gain since May 2018. Year-on-year, retail sales including auto fuel grew 0.8 percent in January after a 0.9 percent increase in December. Economists had forecast a 0.6 percent increase. Without auto…

Poland Industrial Production Rises; Producer Price Inflation Slows

Poland’s industrial production rose unexpectedly in January, and producer price inflation slowed, figures from the Statistics Poland showed on Thursday. Industrial production rose 1.1 percent year-on-year in January. Economists had expected a 0.1 percent fall. Manufacturing output rose 1.9 percent annually in January. Among the main sectors, production of water supply grew 7.5 percent. Meanwhile, production of mining and quarrying, and electricity, gas, steam and air conditioning supply declined 10.4 percent and 4.2 percent, respectively. Intermediate goods output increased by 3.1 percent, and production of durable consumer goods and capital goods rose by 2.0 percent and 1.0 percent, respectively. Energy and non-durable consumer goods production decreased by 3.7 percent and 1.0 percent, respectively. On a monthly basis, industrial production gained 4.5 percent in January. On a seasonally adjusted basis, industrial production rose 3.5 percent annually in January. Another data showed that the producer prices rose 0.8 percent year-on-year in January, slower than 1.0 percent in December. This was in line with economists’ expectation. On a month-on-month basis, producer prices edged up 0.1 percent in January, same as seen in the preceding month. The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD: plan for the US session on February 20. The pound goes against all the rules. A good report on retail sales led

To open long positions on GBPUSD, you need:
Major sellers of the pound acted exactly according to yesterday’s scenario and taking advantage of good news on the volume of retail sales in the UK today. They drop the GBP/USD pair to another monthly low. A small rebound up to 1.2930 served only as a good level for opening new short positions. At the moment, the bears rested on the support of 1.2851, around which trade is conducted. Several tests have only led to a small upward correction of the pair. So an important task for buyers in the second half of the day will be to return the resistance to 1.2884, which will lead to a more powerful upward momentum in the area of 1.2922 and 1.2967, where I recommend fixing the profits. In the scenario of a support breakout of 1.2851, it is best to return to long positions on the rebound from the lows of 1.2830 and 1.2799.
To open short positions on GBPUSD, you need:
The bears continued to push the pound down. Major players took advantage of the good news on the UK and retail sales, which allowed them to quickly gain large positions on the background of speculators’ purchases,…

EUR/USD: plan for the US session on February 20. The euro continues to stagnate around annual lows. The sellers’ target remains

To open long positions on EURUSD, you need:
Data on German producer prices helped keep the euro at this year’s lows, forming a false breakdown from the support area of 1.0785, which also led to the formation of a divergence on the MACD indicator. This is a bullish signal, however, given the current position of the European currency, it is not necessary to count on strong upward momentum. In the scenario of a breakthrough and a decline below the level of 1.0785 in the afternoon, it is best to return to long positions after the area of 1.0765 is updated or immediately to a rebound from the larger low of 1.0740. An equally important task for the bulls will be to break through and consolidate above the resistance of 1.0825, from which a good upward correction will be formed in the area of the highs of 1.0860 and 1.0886, where I recommend taking the profits.
To open short positions on EURUSD, you need:
The bears continue to bend their line, however, they have not managed to break below the support of 1.0785 for the third day in a row, which may lead to a sharp rebound of the pair up. Apparently, the sellers are…

Gold 02.20.2020 – Overbought condition and resistance on the test at $1.617

Technical analysis:Gold has been trading upwards. The price tested the level of $1.618. I see resistance at the level of $1.617 (Upper diagonal of Pitchfork channel), which is indication that Gold is overbought zone and that buying looks risky at this stage.Watch for potential downside rotation if you see any topping pattern or bearish divergence on the lower time-frames. Downside objectives are set at the price of $1.604 and $1.593.Stochastic oscillator is showing overbought condition, which adds even more risk for buyers. Major resistances is set at the price of $1.617 Support levels are set at the price of $1.604 and $1.593The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD for February 20,2020 – Broken downard well-defined channel, posibility for the bigger rally towards the 1.0860

Technical analysis:EUR/USD has been trading sideways at the price of 1.0790. I found that there is the breakout of the well defined downward channel in the background, which is sign that buyers are taking control over buyers and the rally is very possible.Rising black trend line – Possible pathDownside diagonals – Broken downward channelYellow rectangle – Support clusterWatch for buying opportunities with the main upward targets at the price of 1.0835 and 1.0858.MACD oscillator is showing 3-pushes down and bullish divergence, which is good confirmation for our long bias.Major support is set at the price of 1.0760 Resistance levels and upwardThe material has been provided by InstaForex Company – www.instaforex.com…

Dutch Consumer Confidence Decline Slows In February

Dutch consumer confidence decline slowed in February, data from the Central Bureau of Statistics showed on Thursday. The consumer confidence index rose to minus 2 in February from minus 3 in January. A similar reading was seen in December. Nonetheless, the consumer confidence index has remained above the 20-year average of minus 5 points. The economic climate sub-index rose to minus 5 in February from minus 7 in the previous month and the indicator for willingness to buy increased to 1. Households’ assessment regarding their financial situation for the next 12 months improved. However, consumers felt that it is favorable to make large purchases. Another report from the statistical office showed that household spending growth increased in December with higher purchases of home furnishing, electrical appliances, and cars. Consumer spending grew 2.9 percent annually in December, after a 1.4 percent increase in November. This was the highest since July 2018, when it was 3.0 percent. The material has been provided by InstaForex Company – www.instaforex.com…