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EUR
Fundamental Analysis
(30th May): Italy’s Salvini faces a 3.5 billion euro fine from the EU for failure to rein in its debt, putting the currency under further bearish pressure. Meanwhile, Salvini’s response to the situation hammered sentiment further as he offers EU leaders a choice: to reform the EU treaties to enable fiscal expansion and allow the ECB to act as a lender-of-last-resort, or face consequences. Salvini also indicated unwavering resolve on his stance as he said that “I am not going to hang myself for some silly rule, until unemployment falls to 50% we have the right to invest. We have regions where youth unemployment is 50%. We need a Trump cure, a positive fiscal shock to reboot the country.”
(29th May):CAD is trading mixed as markets await BoC rate decision due later today, though widely anticipated that rates will remained unchanged at 1.75%. Last April, BoC removed chances of a near term rate hike and revised Canada’s GDP forecast. However economic data released since then showed a rather healthy economy. CPI accelerated to 2% yoy and job market grew strongly to 106.5k. However with global headwinds such as trade war and volatile oil prices, CAD remains sensitive to any news concerning them.
(28th May): The gauge of global-currency volatility fell as investors await further developments on the trade-war front. “The absence of major headlines on the trade war has been providing investors with a sense of ease, weighing on currency volatility such as that of dollar-yen”. Markets may gain further clarity on the global growth outlook when the US releases first quarter GDP data on Thursday and China announces manufacturing figures Friday. Also, New Zealand Financial Stability Report and Business confidence data will be released tomorrow, any signs of further weakening along with trade tension could place pressure on the NZD.
(27th May): AUD found support late Thursday after softer than anticipated US manufacturing data sparked concerns that the US-China trade war is actively slowing growth prospects within the world’s largest economy. Reports showed manufacturing activity hit near decade lows in May, a read compounded by a slow down in orders for capital goods on Friday. Strong Australian commodity prices are also providing some support for the Aussie. However upside could be limited as China’s manufacturing PMI is likely to deliver more negative news on China’s economy this Friday. This makes a good time to find an entry to short the AUD.
Technical Analysis
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USD
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Fundamental Analysis
(30th May): Italy’s Salvini faces a 3.5 billion euro fine from the EU for failure to rein in its debt, putting the currency under further bearish pressure. Meanwhile, Salvini’s response to the situation hammered sentiment further as he offers EU leaders a choice: to reform the EU treaties to enable fiscal expansion and allow the ECB to act as a lender-of-last-resort, or face consequences. Salvini also indicated unwavering resolve on his stance as he said that “I am not going to hang myself for some silly rule, until unemployment falls to 50% we have the right to invest. We have regions where youth unemployment is 50%. We need a Trump cure, a positive fiscal shock to reboot the country.”
(29th May):CAD is trading mixed as markets await BoC rate decision due later today, though widely anticipated that rates will remained unchanged at 1.75%. Last April, BoC removed chances of a near term rate hike and revised Canada’s GDP forecast. However economic data released since then showed a rather healthy economy. CPI accelerated to 2% yoy and job market grew strongly to 106.5k. However with global headwinds such as trade war and volatile oil prices, CAD remains sensitive to any news concerning them.
(28th May): The gauge of global-currency volatility fell as investors await further developments on the trade-war front. “The absence of major headlines on the trade war has been providing investors with a sense of ease, weighing on currency volatility such as that of dollar-yen”. Markets may gain further clarity on the global growth outlook when the US releases first quarter GDP data on Thursday and China announces manufacturing figures Friday. Also, New Zealand Financial Stability Report and Business confidence data will be released tomorrow, any signs of further weakening along with trade tension could place pressure on the NZD.
(27th May): AUD found support late Thursday after softer than anticipated US manufacturing data sparked concerns that the US-China trade war is actively slowing growth prospects within the world’s largest economy. Reports showed manufacturing activity hit near decade lows in May, a read compounded by a slow down in orders for capital goods on Friday. Strong Australian commodity prices are also providing some support for the Aussie. However upside could be limited as China’s manufacturing PMI is likely to deliver more negative news on China’s economy this Friday. This makes a good time to find an entry to short the AUD. … [/blur][/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column][vc_empty_space height=”35px”][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=””][vc_column_inner width=”1/5″][/vc_column_inner][vc_column_inner width=”3/5″][vc_separator type=”normal” color=”#b70909″ border_style=””][/vc_column_inner][vc_column_inner width=”1/5″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”35px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column width=”1/5″][/vc_column][vc_column width=”3/5″][kswr_heading head_align=”center” head_subtitle_color=”#333333″ head_title=”ACCESS RESTRICTED” head_title_fsize=”font-size:23px;line-height:2;” head_title_fstyle=”font-family:Inherit;font-weight:700;” head_subtitle_fsize=”font-size:17px;line-height:1.5;” head_subtitle_fstyle=”font-family:Inherit;font-weight:inherit;” head_title_margins=”margin-top:0px;margin-bottom:0px;” head_subtitle_margins=”margin-top:0px;margin-bottom:0px;”]Our comprehensive daily reports covers both technical and fundamental analysis, and are customised to your requirements.
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