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Thread: Analytics from Fibo Group

  1. #91

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    UK unemployment has skyrocketed

    Unemployment in the UK in January-March 2020 unexpectedly amounted to 3.9%. Statistics for the first three months of the year do not take into account the impact of the coronavirus pandemic. it should be borne in mind that the first month in which the restrictions were in effect for 30 days was April, and it is not included in the calculation of the data provided.
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    Recall, it was previously reported that the Central Bank of England predicts the largest economic slowdown for the first time in more than 300 years. According to forecasts of the Bank of England, the British economy will shrink by 25% in three months, and unemployment will reach more than 9%. We believe that this negative scenario will only partially be fulfilled, which will put moderate pressure on the #GBPUSD currency pair in the second quarter.
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    Trade with the Fibo Group!
    Trading Terms: Forex market analysis by our experts - FIBO Group
    Account Opening: Forex and CFD trading since 1998 - FIBO Group forex broker

    #fibogroup #forex #forexnews #economy #finance #trader #UK #unemployment

  2. #92

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    Market Watch
    "Minutes" from the US Federal Reserve


    Today’s release will begin with the rapidly deteriorating situation in US-China relations. Let me remind you that Donald Trump congratulated the President of Taiwan on his victory for a second term. China took this acknowledgement as an interference in their "internal affairs", which violates the policy of a single China.

    In response to this move by the American president, China promises to retaliate, which will contribute to a further deterioration in relations, which is negative for the global economy and will further increase the demand for safe haven assets.

    Moving to the European trading session, I will draw your attention to the release of weaker than expected inflation data from the UK which came in lower than an already pessimistic forecast. As a result, the GBP has fallen sharply, and the GBP/USD currency pair has dropped to the technical support level of 1.2220.

    The future direction of the price movement will depend on the report from the Bank of England on monetary policy. Any hints the bank is prepared to cut interest rates may lead to a further selloff in the GBP. Only unexpected optimism from the Central bank head may support the pound.

    During the US trading session, a report on changes in US oil reserves will be published. A further reduction should be good news for the black gold market.

    Trading volatility in this market has fallen dramatically in the last few days and this may change with a surge occurring today. Unexpected growth in oil reserves may see American grade WTI fall to $30 per barrel.

    I also note the upcoming publication of the minutes meeting of the US Federal Reserve. The so-called "minutes" usually increases trading activity in the US dollar. Any mention of a cut in Interest rates may see the US dollar come under pressure.

    I will complete today's review with an analysis of the transaction for the purchase of the GBP/USD currency pair for one lot. The deal was opened at 1.2120, and a Stop Loss placed at 1.2090, and a Take Profit at the next strong resistance level of 1.2230, which now serves as a support. Profit on this transaction amounted to $1,100.

    The above review is not a direct guide to trading, and can only be classed as a recommendation.
    =======
    Trade with the Fibo Group!


    #MarketWatch

  3. #93

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    Germany and France set up €500 billion support fund

    The euro rose on Wednesday after receiving support from the Franco-German proposal to create a common fund to support the economy of €500 billion for the EU countries most affected by the COVID-19 pandemic. And this is not credit money. Assistance will be allocated in the form of prizes and grants (which is absolutely free!). The first applicants for help will be Italy and Spain, who have suffered more from the coronavirus pandemic.
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    Someday, such a clumsy way to support the economies of certain regions will have repercussions, but not in the next business cycle. So the Euro will continue to grow against the US dollar throughout the current year.
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    Trade with the Fibo Group!

    #fibogroup #forex #forexnews #economy #finance #trader #EU #covid #Germany #France #fund

  4. #94

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    Oil at 10 weeks peak

    Oil is trading at a 10-week high after the publication of data on a decrease in US stocks of crude. Also, oil quotes are growing on reduction of concerns about overflowing storages and easing restrictions associated with the coronavirus pandemic. Since the beginning of May, when the transaction on limiting production in the OPEC+ format came into force, prices rose by more than a third.
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    On Wednesday, May 20, when the June futures contract for WTI was expired, we expected a repeat of the April situation when the price went negative and reached almost minus $40 per barrel. However, this did not happen, which also gave a positive signal to the market.
    =======
    Trade with the Fibo Group!
    Trading Terms: Forex market analysis by our experts - FIBO Group
    Account Opening: Forex and CFD trading since 1998 - FIBO Group forex broker


    #fibogroup #forex #forexnews #economy #finance #trader #oil

  5. #95

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    PMI: The economic decline slowed down in May

    Preliminary PMI indices for May published today indicate a slowdown in the economies of Japan, Australia, the Eurozone and the UK (US data will be published in the second half of the day).
    The indices showed a friendly growth since April historical lows, but at the same time they are still at levels corresponding to a deep recession.
    Since the process of quarantine removal is smooth and limited, and consumer activity remains suppressed, it is unlikely that economies will return to growth earlier than the 3rd quarter.
    ========
    Trade with the Fibo Group!


    #fibogroup #forex #forexnews #economy #finance #trader #PMI #decline

  6. #96

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    Trump accused China of "massacres around the world"

    The United States continues to tighten the rhetoric nuts against China.
    On Wednesday, US President Donald Trump, accused Beijing of "massacre":
    “Someone crazy in China has just issued a statement blaming everyone except China for the virus that killed hundreds of thousands of people. Please explain to this dunce that only the incompetence of China, and nothing more, has caused the massacre of people on a global scale, ” Trump wrote on twitter.
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    Trump's remarks are nothing but a political move ahead of the election. The classic political play is to divert the anger of the masses from itself and direct it towards a new common enemy, whom he will defeat right a week before the election (having driven into a white house on a white horse and the imprint of light fatigue in the process of seizing the evil hydra).
    That is why you should not take these statements as drivers for the stock and foreign exchange markets.
    However, there are still drivers here, but they are in a slightly different plane:
    The US Senate passed a law on the delisting of shares of Chinese companies on US exchanges. Currently, securities of more than 150 Chinese companies with a total value of more than $1.2 trillion are traded on United States exchanges. Their possible delisting will be a sensitive blow for China.
    ========
    Trade with the Fibo Group!
    Trading Terms: Forex market analysis by our experts - FIBO Group
    Account Opening: Forex and CFD trading since 1998 - FIBO Group forex broker

    #fibogroup #forex #forexnews #economy #finance #trader #Trump #US

  7. #97

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    Market Watch
    May is even worse than April


    I'll start with the bad news - Incoming statistics for May shows the situation has deteriorated in comparison with April. Let me remind you that in May several European countries began to mitigate quarantine measures, and in Italy a large number of small shops reopened. Nevertheless, the incoming statistics indicate a further decline in business activity in the services and manufacturing sectors across Europe.

    The business activity indices published on Thursday for the currency block and Britain came in below 50 points, indicating that in May the level of business activity was below the level in April. All European countries showed less growth in May compared to April which means the outlook for European currencies is pessimistic.

    Let’s take a look at the GBP/USD currency pair, which continues to lose ground, on the back of declining retail sales and an increase in borrowed funds from the government. As a result, the risk of the currency pair returning to the psychological mark of 1.2100 continues to increase.

    Now let's move on to the oil market. The collapse in oil prices is due to some changes in policies from China, which could lead to a significant decrease in oil demand. Nevertheless, don’t count on further weakness as shale oil production in the USA continues to decline. In addition, participants in the OPEC + transaction, which entered into force on May 1, continue to fulfill their obligations and this will contribute to a moderate increase in oil prices.
    Due to the lack of statistics during the American trading session, trader’s attention will focus on incoming information about the conflict between the United States and China. An escalation of the conflict will contribute to higher gold prices.

    I will complete the review with a deal to buy a USD/CAD currency pair. A long position was opened at the price of 1.3940 by two lots. A take Profit order is set at the next technical resistance level of 1.4020. At the time of writing the review, quotes of the pair reached the marked resistance level. Profit on this transaction amounted to $1,140.

    The above review is not a direct guide to trading, and can only be classed as a recommendation.
    =========
    Trade with the Fibo Group!
    Trading Terms: Forex market analysis by our experts - FIBO Group
    Account Opening: Forex and CFD trading since 1998 - FIBO Group forex broker

    #MarketWatch

  8. #98

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    Coronavirus "infected" Brexit

    The coronavirus pandemic calls into question the implementation of the plan to complete the exit of the UK. Of course, even in “precovid19” times, no one expected that in 11 months (counting from January 31), it would be possible to agree without problems on the future of trade relations between Britain and the EU - taking into account how the negotiations went on all these years ... the coronavirus pandemic in the economy and health care system makes even more doubt that Brexit will be able to be completed according to the plan without causing even more damage to the already badly worn economy.
    Mass quarantine will give an occasion to both sides of the conflict to continue pulling the already stretched strap in the middle of 2021.
    =======
    Trade with the Fibo Group!
    Trading Terms: Forex market analysis by our experts - FIBO Group
    Account Opening: Forex and CFD trading since 1998 - FIBO Group forex broker

    #fibogroup #forex #forexnews #economy #finance #trader #coronavirus #covid19 #EU #Brexit

  9. #99

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    Market Watch
    New sanctions and rising oil prices


    Tensions between the US and China are growing. On Friday, the US Department of Commerce announced the blacklisting of 33 Chinese companies and government organizations, thereby putting additional pressure on the Chinese economy. In addition, the media reported that the White House administration of Donald Trump contemplated testing nuclear weapons which has not been confirmed. It is a known fact that China and Russia are already testing nuclear weapons.

    Despite all this, the demand for Safe haven assets remains virtually unchanged. Gold prices remain subdued and safe haven currencies such as the JPY and CHF remain stable. This may be due to long weekends in the USA and Britain so on Tuesday there may be a surge in trading activity.

    And now let's move on to the published report for changes in the business environment, as well as assessing the current situation and economic expectations from Germany. The data came in mixed and the current economic situation turned out to be worse than analysts’ expectations.

    As a result, the activity of EUR buyers remains restrained. At the same time, a marked improvement in economic expectations eased the pressure on the EUR/USD currency pair. Despite this buying activity for this currency pair remains in the risk zone, until the pair returns above the technical resistance level of 1.0910.

    Now let's move on to the black gold market. After a short-term, but rather deep correction, the oil price has bounced back. There are two reasons to be optimistic, and we have already discussed them several times. The first is the reduction of quarantine restriction measures, which leads to an increase in demand for oil and oil products and caused a decrease in US oil reserves.

    The second, but just as important factor is the OPEC+ agreement for a cut in production. As a result, we are seeing a moderate increase in oil prices. To break through the strong technical area of resistance of $35–$36 per barrel, an additional and sufficiently strong bullish fundamental factor is needed such as an easing of lockdown measures in the USA regarding the coronavirus which will increase demand as the US is the world’s biggest consumer of oil.

    The above review is not a direct guide to trading, and can only be classed as a recommendation.
    ==========
    Trade with the Fibo Group!


    #MarketWatch

  10. #100

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    Economic calendar for the week

    Trump accuses China of all mortal sins. The world continues to drop quarantine bonds, and in Japan the emergency mode is being canceled and the liquidity gun is being charged.
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    Weekly calendar:
    05/25/2020, Monday
    - Non-working day in the USA;
    - Non-working day in the UK.
    05/27/2020, Wednesday
    - The European Commission will publish a proposal for an anti-crisis fund for 500 billion euros;
    - Speech by ECB Chairman Christine Lagarde.
    05/28/2020, Thursday
    - US #GDP for the first quarter;
    - US crude oil reserves.
    05/29/2020, Friday
    - European Union #inflation. Consumer Price Index (CPI) for May.
    ==========
    Trade with the Fibo Group!

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