MACRO EVENTS & NEWS OF 9th April 2019.
FX News Today
* 10-year Treasury yields are down -0.4 bp at 2.519% and JGB rates up 0.2 bp at -0.052%, as Asian stock markets traded narrowly mixed, with threats of new tariffs on European goods from President Trump adding to the cautious tone in the markets.
* Topix and Nikkei are down -0.26% and 0.06% respectively, the Hang Seng is up 0.22% and CSI 300 and Shanghai Comp up 0.11% and down -0.27% respectively, while the ASX closed down -0.01%, despite better than expected loans data.
* US futures are also posting slight losses and overall it seems investors are in a holding position ahead of the earnings season and with no firm agreement on US-Sino trade talks yet.
* Trump’s renewed threat of tariffs on European goods meanwhile acts as a reminder that geopolitical trade tensions are far from resolved.
* Oil prices meanwhile continue to hold above USD 64 per barrel amid fighting in Libya.
Charts of the Day
* EURUSD stabilized around the 1.125 level, unable to break past the 1.1276 level. Support stands at 1.1256, with indicators showing mixed signs.
* GBPUSD broke through the 1.3067 level and is currently bound by the 200HMA at 1.3090, after positive news regarding a meeting between May, Merkel, and Macron. Support remains at 1.3067.
* USDJPY continues its downwards move towards the 111.22 level capped by the 200HMA, as soft Resistance is at 111.50. Indicators are suggesting a pause of the movement.
* XAUUSD is trading between the 1295-1300 marks, above its 200HMA and with indicators showing a slight downwards movement.
Support and 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.
Click HERE to access the full HotForex Economic calendar.
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. Click HERE to register for FREE!
Click HERE to READ more Market news.
Dr Nektarios Michail
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.