Today at 3:00pm UK Time. Existing Home Sales shows the amount of the secondary housing sales for the given month. Only closed deals are considered in the report. The report is used to evaluate the US real estate market. F: 5.52 M, P: 5.54 M.
Read MoreUSDJPY - Surges to 10 Month High Above 112 as BOJ Raises Growth Forecast
on February 21, 2020
| By Stuart McPhee
|
USDJPY
In the last two days the USDJPY has surged higher to its highest levels in 10 months above 112, after having traded around the key 109 level for an extended period of time. In the last two months it had reached a seven month high above 110 after surging higher from a three month low below 108 in January. Up until the last three days, the last few months saw the USDJPY trade in a wide range right around the 109 level, not showing any signs of moving too far away from it.
Read More
EIA United States Crude Oil Stocks Change
on February 20, 2020
| By Stuart McPhee
|
UK Oil
Today at 4:00pm UK Time. The EIA Crude Oil Stocks Change Indicator measures the number of barrels of commercial crude oil held by US companies. It is one of the indicators affecting world oil prices. F: -1.648 M, P: 7.459 M. #UK Oil may test 58.
Read MoreUnited Kingdom Retail Sales m/m
on February 20, 2020
| By Stuart McPhee
|
GBPUSD
Today at 9:30am UK Time. Retail Sales m/m reflect a change in the UK retail sails in the reported month compared to the previous one. It is used in forecasting, budgeting for UK financial and economic policy. F: 0.6%, P: -0.6%. #GBPUSD may test 1.30.
Read More
In the last two weeks the EURUSD has fallen sharply from the key 1.11 level back down to another key level of 1.10 where it had previously enjoyed support before falling lower to its lowest point in nearly two years. After having traded in a wide range generally between 1.10 and 1.12 for an extended period, this latest move is quite significant. The 1.10 level is now likely to reverse roles and provide some resistance if and when the EURUSD attempts to rally in the near future. The 1.10 level has propped up the currency pair several times in the last few months so it is significant that this level is now broken.
Read More
Australia Employment Change
on February 19, 2020
| By Stuart McPhee
|
AUDUSD
Today at 12:30am UK time. Australia Employment Change measures a change in the number of officially employed Australians in the reported month, and growth is a sign of a stronger labor market and can be seen as positive for AUD. F: 31K, P: 28.9 K. #AUDUSD may test 0.6750.
Read MoreNZDJPY Ranging. USDCHF Approaching Resistance.
on February 19, 2020
| By Brad Alexander
|
USDCHF,
USDCAD,
USOil,
WTI,
Technical Analysis,
Fibonacci,
Descending Triangle
Welcome to this week’s Market Blast Technicals where we will look at US Oil (WTI), NZDJPY, USDCHF, USDCAD, and GBPUSD.
In the last week the US index has eased a little lower from all-time highs back down towards the key 29000 level where it continues to receive some support from. It has now spent the best part of the last month trading in a narrow range between the key 29000 level and 29500, enjoying support from the former. Two weeks ago the US30 index rallied well back towards the key 29000 level after having dropped below this level down towards 28000 as it had spent the previous three weeks falling from then all time highs down to a recent three week low before its current rally.
Read More
ZEW Germany Economic Sentiment Indicator
on February 18, 2020
| By Stuart McPhee
|
EURUSD
Today at 10:00am UK time. ZEW Economic Sentiment Indicator is calculated monthly surveying around 300 experts on their expectations concerning the economy, inflation rates, interest rates, markets, and oil prices for the next six months. F: 18.8, P: 26.7. #EURUSD may test 1.08.
Read More
In the last week UK Oil has done well to rally strongly from a one year low near $53 back up towards the key $58 level. This is a welcome sight as for the last month, UK Oil collapsed from multi-month highs above $70 down to its lowest level in one year as it was struggling to receive any support from anywhere. This was accompanied by a significant increase in volatility. A month ago UK Oil pushed through the key $68 level to its highest level in seven months before being sold off and enjoying support at the $68 level before its surge higher to above $71 before its strong fall.
Read More
