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The Australian dollar fluctuated in a narrow range tilted towards the decline during the Asian session, to witness its rebound, its stability near its lowest level since mid-March 2009 against the US dollar, following the economic developments and data that it announced today, Tuesday, on the Australian economy and on the cusp of the decisions and directions of the Reserve Bank of Australia and the paucity of economic data. By the American economy the largest economy in the world.

At exactly 03:29 am GMT, the Australian dollar versus the US dollar fell 0.14% to 0.6528 levels compared to the opening levels at 0.6535, after the pair achieved its lowest level during the trading session at 0.6510, while the pair achieved its highest at 0.6549, with Knowing that the pair started the trading session on a falling price gap after it closed yesterday's trading at 0.6537.

We have followed the Australian economy on the disclosure of housing market data with the release of the Building Permits Index, which showed a 15.3% decline compared to a rise of 3.9% last December, worse than the expectations that indicated a rise of 1.1%, as the annual reading of the same index showed a decline 11.3% against a rise of 7.2% in the previous annual reading for the month of December, also the worst expectations for a rise of 1.9%.

This came in conjunction with the disclosure of the current account index reading, which showed that the surplus has shrunk to A $ 1.0 billion compared to A $ 6.5 billion in the previous reading for the third quarter, worse than expectations that indicated the surplus to shrink to A $ 2.3 billion, and a reading of the index showed Net exports from the fourth quarter GDP slowed the pace of growth to 0.1% compared to the previous reading for the third quarter and expectations at 0.2%.

Otherwise, investors are looking to the decisions and directions of monetary policy makers at the Reserve Bank of Australia with the release of the Australian Central Bank’s statement of interest rates amid expectations to reduce them by 25 basis points to 0.50% after stabilizing them in the previous three meetings in the wake of reducing them last year three times by 25 basis points To 0.75%, before we witness tomorrow, Wednesday, the disclosure of the fourth quarter growth data, which may reflect the stability of growth at 0.4%.

On the other hand, investors are currently looking forward to the talk of Federal Open Market Committee member and President of the Federal Reserve Cleveland Bank Loretta Mester about the economic outlook and monetary policy at the annual dinner of the Society of Professional Economists in London, and this comes hours after the US President criticized the Fed’s position and the political situation The current criticism, expressing the delay of the Fed and his Powell Governor in taking decisions.

U.S. President Trump, through his Twitter account via his official account on Twitter, also expressed that Germany and a number of countries are pumping money to support their economy, and that the major central banks in other countries are more strict in making decisions, adding that due to many reasons the United States should have The lowest rate of interest, explaining that this was not done by the Federal Reserve and his Powell Governor.

Markets are currently pricing the Federal Reserve to resume cutting interest on federal funds this year and reducing them by 50 basis points to between 1.00% and 1.25% at the March 17-18 meeting, and after cutting them three times by 25 basis points last year To 1.50% and 1.75%, and looking forward also to the Federal Committee revealing its expectations for the future of interest rates and the rate of growth, inflation and unemployment for the next three years.

Technical analysis

The Australian dollar versus the US dollar continues to provide positive trades, on the way to a possible visit to resist the descending channel that appears in the picture, which makes us highly likely to witness more bullish bias during the upcoming sessions, waiting for the 0.6630 level to be tested before returning back down again.

Therefore, the bullish trend will be expected for today, noting that failure to surpass 0.6575 will stop the suggested rise and press the price to resume the main bearish trend again.

The expected trading range for today is between 0.6500 support and 0.6600 resistance.

Expected trend for today: temporarily bullish.

Sber Bank shares continue to decline, reaching the support level of 231.71, after it opened trading last Friday, on a falling price gap. To come back

The price remains below 242.75, a condition for the continuation of the downward movement.

The price action has become below the moving averages 50-7-20 which constitute price resistance levels and constitute a negative pressure factor for it.

The stochastic oscillator is returning to the overbought territory and moving within a bearish path, therefore we may see more decline for the stock.

The general direction of the movement: Down.

The US dollar rose during the Asian session to witness its rebound from the lowest since October 10, 2019 against the Japanese yen, following the developments and economic data that were followed by the Japanese economy, which included Bank of Japan Governor Hariko Kuroda reported a short time ago that the Japanese central bank will take the necessary steps to achieve stability In the financial markets and on the cusp of developments and economic data expected today Monday by the US economy.

At exactly 6:50 am GMT, the US dollar pair rose against the Japanese yen by 0.74% to 108.25 levels compared to the opening levels at 107.46, after the pair achieved its highest level during the trading session at 108.37, while achieving the lowest in five months at 107.01 , Knowing that the pair started the trading session on a falling price gap after it concluded the trades of the month and last week at 107.89.

On the Japanese economy, we have followed the disclosure of the capital expenditures index reading, which showed a decline of 3.5% against a rise of 7.1% in the previous reading for the third quarter, worse than expectations that indicated a decline of 2.5%, as the reading of the same index excluding software showed a decrease of 5.0% against a rise 7.7% in the third quarter, also worse than expectations, which indicated a decline of 2.0%.

This came before we witnessed the disclosure of the final reading of the manufacturing PMI by Markit on Japan, the third largest economy in the world and the third largest industrialized country globally, which showed contraction shrinking to a value of 47.8 compared to the initial reading of the last month and expectations at 47.6 and 48.8 in January / Last January, we would like to point out, because the reading issuance at a value of 50 or higher reflects a widening, while its reading below 50 indicates a contraction.

In order to reach the event that came as a surprise to the markets today, which is Bank of Japan Governor Harhiko Kuroda’s pledge that the Bank of Japan will take the necessary steps to achieve stability in the financial markets, and the Japanese Central Bank has quickly demonstrated the type of measures that it will take by offering to buy 500 billion yen ($ 4.6 billion) A government bond by repurchase agreement to provide liquidity to market participants, which in turn contributed to allaying investor anxiety.

On the other hand, investors are currently awaiting by the US economy the disclosure of the final reading of the manufacturing PMI by Markit about the United States, which may reflect the stability of the expansion at a value of 50.8, little changed from the initial reading of last month and compared to 51.9 in December, And that is before we witness the release of the construction spending index, which shows a 0.6% increase compared to a 0.2% decline last November.

This comes in conjunction with the disclosure also by the largest economy in the world and the largest industrialized country globally, on the reading of the Institute of Industrial Supply index, which may show a shrinkage of amplitude to 50.5 compared to 50.9 in December, as the reading of the Institute of Industrial Supply measured in prices may show a shrink Expansion of 51.2 versus 53.3 in December.

We would like to point out, because the markets are currently pricing the Federal Reserve to resume cutting interest rates during this year and reducing them by 50 basis points to between 1.00% and 1.25% at the March 17-18 meeting, after cutting them three times by 25 basis points last year. To 1.50% and 1.75%, and looking forward to the Federal Open Market Committee also revealing its expectations for the future of interest rates, growth, inflation and unemployment for the next three years.

Other than that, given the developments of the Corona virus that started in Wuhan, China, the deadly virus has so far claimed the lives of nearly 3,000 people and at least 85,000 infected cases have been confirmed worldwide, amid fears that the Corona virus will spread outside China and turn into a pandemic. Global and authorities are working intensively to contain the infection, especially in China, Iran and Italy as well as South Korea and the United States of America.

Technical analysis

The dollar pair fell against the yen strongly last Friday to succeed in achieving our awaited target at 108.34 and exceeded it to touch the 61.8% Fibonacci correction level at 107.42, noting that the price is re-testing the first level, which is turning into an intraday resistance now, so we would expect the rebound down to resume the bearish path during the upcoming sessions, Noting that breaking 107.42 will push the price to 106.28 as a next negative target.

Therefore, the negative scenario will remain dominating over the intraday and short term, noting that breaching 108.34 then 109.25 levels will stop the expected decline and lead the price to rise again.

The expected trading range for today is between 107.40 support and 108.80 resistance.

Expected trend for today: bearish.

Gold futures rose during the Asian session to witness their bounce for the second session from the lowest since February 7, with the dollar index rebounding for the sixth session in eight sessions from the highest since April 21, 2014, explaining the lowest since the fourth of this month according to the relationship The opposite between them following the economic developments and data that were followed by the Chinese economy, the largest consumer of metals globally, on the cusp of developments and economic data expected on Monday by the US economy and amid hopes of a global stimulus to reduce the economic damage to Corona.

At exactly 04:54 AM GMT, gold price futures for April delivery rose 0.62% to trade at $ 1,602.60 per ounce compared to the opening at $ 1,592.80 per ounce, knowing that the contracts started the trading session on an upward price gap after the week's trades ended And last month at $ 1,566.70 an ounce, with the US dollar index down 0.09% to 97.90 compared to the opening at 97.99.

We followed Saturday, the China Federation of Logistics and Procurement (CFLP) revealed the readings of the Industrial and Service Purchasing Managers' Index, which reported their worst performance ever with the industrial sector contracting to 35.7 compared to a expansion of 50.0 in the previous reading last January, worse than expectations that It pointed to a contraction at 45.1, and the service sector contracted to 29.6 versus a widening at 54.1, also worse than expectations for a widening at 51.4.

On the other hand, investors are currently awaiting by the US economy the disclosure of the final reading of the manufacturing PMI by Markit on the United States, which may reflect the stability of the expansion at a value of 50.8, little changed from the initial reading for the past month and compared to 51.9 last December And, before we see the release of the construction spending index, which shows a 0.6% increase compared to a 0.2% decrease last November.

This comes in conjunction with the disclosure also by the largest economy in the world and the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a shrinkage of breadth to a value of 50.5 compared to 50.9 in December, as may read the reading of the Institute of Industrial Supply measured in prices Capacity widened to 51.2 from 53.3 in December.

It is reported that gold futures contracts witnessed Friday their worst daily performance since June 20, 2013 and their worst weekly performance since the beginning of November 2016, as they reflected their first monthly losses in three months with the transmission of bleeding of global stock indices for gold contracts. Where some of the report mentioned that investors sold gold to cover their positions in global stocks, which last week lost more than $ 5 trillion of its market value.

The markets are looking for the adoption of monetary policy makers with global central banks stimulus policies to overcome the negative economic effects of Corona, especially after the Chinese industrial and service sector data, which is the worst ever, and amid the aspiration to reveal industrial sector data for the economies of the euro area, the United States, Britain and Canada at a time Later today to assess whether the industrial sector has been affected globally, or is it confined to China so far?

In the same context, it is expected that the monetary policy makers at the Reserve Bank of Australia will resume reducing the short-term benchmark interest rates during the current year and reduce them by 25 basis points to 0.50% at tomorrow's meeting Tuesday after fixing them in the previous three meetings and after reducing them three times by 25 basis points last year, its lowest level ever at 0.75%.

The markets are also pricing in the Federal Reserve’s resumption of the interest rate on federal funds during this year and reducing them by 50 basis points to between 1.00% and 1.25% at the meeting of March 18-18, and after reducing them three times by 25 basis points a year The past to 1.50% and 1.75%, with an eye also to the Federal Open Market Committee revealing its expectations for the future of interest rates, growth, inflation and unemployment for the next three years.

Bank of Japan Governor Harikiko Kuroda noted a little while ago that the Bank of Japan will take the necessary steps to stabilize the financial markets, which contributed in a way to allaying the anxiety of investors, otherwise, given the developments of the Corona virus that started in Wuhan, China, the deadly virus has killed So far, nearly 3,000 people have died and at least 85,000 cases have been confirmed worldwide.

Technical analysis

The sharp drop in the price of gold stopped at the 50% Fibonacci retracement level for the measured rise from 1453.11 to 1689.33, and starts today with a noticeable bullish trend to return to the bullish sub-channel that appears in the image, which provides signs of the price's return to resume the main bullish path, especially as the stochastic indicator provides Positive signs Now we expect the price to stimulate further gains in the upcoming sessions.

Therefore, the bullish trend will be expected for today, and targets begin to breach the 1633.58 level to open the way for the recent visit to the summit recorded at 1689.33 as a next positive target, noting that breaking 1571.22 will put the price under additional negative pressure that threatens to support the main upside channel and opens the door for a downward shift on Short and medium term.

The expected trading range for today is between 1580.00 support and 1635.00 resistance.

Expected trend for today: bullish.

The euro currency fluctuated in a narrow range slanting up during the Asian session to witness its bounce to the sixth session in eight sessions from the lowest since mid-April 2017, explaining the highest since February 3, when it tested the highest since January 23 January against the US dollar on the cusp of developments and economic data expected on Monday by the economies of the euro area and the US economy.

At exactly 6:18 am GMT, the euro pair rose against the US dollar by 0.16% to 1.1044 levels compared to the opening levels at 1.1007 after the pair achieved its highest level in a month at 1.1074, while achieving the lowest during the trading session at 1.1003.

The markets are currently looking to reveal the data of the industrial sector from Spain, the fourth largest economy in the euro area, with the release of the Manufacturing Purchasing Managers Index, which may reflect the contraction in contraction to 48.9 compared to 48.5 in January, before we witness the disclosure of the same indicator reading for Italy The region's third largest economy, which may reflect a widening contraction to 48.0 compared to 48.9 in January.

This comes before we witness the release of the final reading of the manufacturing PMI for France, the second largest euro area economy, and Germany is the largest economy in the region in addition to the eurozone economies as a whole, which may reflect the stability of the contraction at 49.7 in France, compared to a expansion at 51.1 in January, The contraction stabilized at 47.8 in Germany versus 45.3, and also the contraction stability at 49.1 in the region as a whole compared to 47.9.

On the other hand, investors are currently awaiting by the US economy the disclosure of the final reading of the manufacturing PMI by Markit about the United States, which may reflect the stability of the expansion at a value of 50.8, little changed from the initial reading of last month and compared to 51.9 in December, And that is before we witness the release of the construction spending index, which shows a 0.6% increase compared to a 0.2% decline last November.

This comes in conjunction with the disclosure also by the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a shrinkage of amplitude to 50.5 compared to 50.9 in December, as the reading of the Institute of Industrial Supply measured in prices may show a shrinkage of breadth to what Its value is 51.2 compared to 53.3 in December.

Technical analysis

The euro against the dollar achieved a new rise to touch the level of 1.1063 and settles there, and the stochastic indicator provides a positive crossover now that supports the opportunities to breach the mentioned level to open the way to achieving more intraday gains, noting that the next station reaches 1.1130.

Therefore, the bullish bias will remain likely during the upcoming sessions, taking into consideration that failure to achieve the required breach and breaching the 1.1008 level will stop the expected rise and press the price to return to the falling path again.

The expected trading range for today is between 1.0980 support and 1.1130 resistance.

Expected trend for today: bullish.

The Australian dollar rose during the Asian session to reflect its retracement for the second session from the lowest since 12 March 2009 against the US dollar after the developments and economic data that were reported by the Australian economy and on the cusp of developments and economic data expected today Monday by the US economy, the largest economy in the world.

At 02:37 am GMT, the Australian dollar pair rose against the US dollar by 0.74% to 0.6535 levels compared to the opening levels at 0.6487, after the pair achieved its highest level during the trading session at 0.6536, while the pair achieved its lowest at 0.6460, with Knowing that the pair started the trading session on a falling price gap after it concluded the trading of the month and last week at 0.6515.

On the Australian economy, we followed the disclosure of the AIG manufacturing reading, which showed the contraction widened to 44.3 compared to 45.4 last January, and this came before the Melbourne Institute (MI) revealed the inflation gauge reading Which showed a contraction of 0.1% against a growth of 0.3% in January, while the annual reading of the same indicator showed that the growth slowed to 1.6% compared to 1.8%.

Up to the disclosure of the reading of the operating profit index for companies, which showed a widening decline of 3.5% compared to 0.6%, which adjusted from a decline of 0.8% in the third quarter, worse than expectations that indicated a decline of 1.2%, and this came in conjunction with the disclosure of preliminary data for the Australian labor market with The release of the job advertisements reading, which showed a rise of 0.7% compared to a rise of 0.4% last December.

Other than that, the markets are looking to tomorrow, Tuesday, for the decisions and directions of monetary policy makers at the Reserve Bank of Australia with the release of the Australian Central Bank statement of interest rates amid expectations to reduce them by 25 basis points to 0.50% after fixing the previous meeting for the third consecutive meeting in the wake of reducing it last year three times by 25 basis points to 0.75%, before we witness tomorrow, Wednesday, the disclosure of growth data for the past fourth quarter.

On the other hand, investors are currently awaiting by the US economy the disclosure of the final reading of the manufacturing PMI by Markit about the United States, which may reflect the stability of the expansion at a value of 50.8, little changed from the initial reading of last month and compared to 51.9 in December, And that is before we witness the release of the construction spending index, which shows a 0.6% increase compared to a 0.2% decline last November.

This comes in conjunction with the disclosure also by the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a shrinkage of amplitude to 50.5 compared to 50.9 in December, as the reading of the Institute of Industrial Supply measured in prices may show a shrinkage of breadth to what Its value is 51.2 compared to 53.3 in December.

Technical analysis

The Australian dollar pair traded against the US dollar with a strong negative yesterday to achieve our awaited target at 0.6500 and approach the 0.6400 barrier, noting that the price bounces up to approach the resistance of the descending channel that appears in the picture, pending the resumption of the main downside trend, which reaches its next target to 0.6345.

Therefore, we will continue to suggest the bearish trend unless the 0.6635 level is breached and stability above it is established.

The expected trading range for today is between 0.6450 support and 0.6570 resistance.

Expected trend for today: bearish.

The drop in panic due to fewer new coronavirus cases in China, as well as the expected stronger support of the national economy by the People's Bank of China, led to an increase in demand for risk assets and crude oil. If this sentiment remains, the pair will continue its local decline.

Trading recommendations:
If the pair stays below 1.3345 and fixes below it, it will continue to drop to 1.3270.

When buying an option against a trend, it is necessary to confirm other technical analysis tools – the presence of divergence, candlestick reversal patterns. Buy against the trend strictly on the retest level! Buying an option before publishing important economic news is considered risky.  The expiration time depends on the strength of the level and confirmation by additional technical and fundamental analysis tools.

The support level of 397.50 held back sellers. Stochastic Oscillator moving indicators on TF D1 are located near the oversold zone, and on TF H4 and H1 are in the oversold zone. The nearest resistance level is 408.00.

Trading recommendations:

Buy Above 408.00.

Stop Loss under the support level of 397.50.

Target levels: 422.00; 441.00.

The currency pair is trading in the range of the round important level 0.6300. A descending truncated pattern has formed. A bullish divergence has formed on Awesome Oscillator, Stochastic Oscillator signals oversoldness. The exit from the zone of the round important level will result in the formation of an ascending pattern 123.

Trading recommendations:

Buy above 0.6320.

Stop Loss: 0.6250.

Target levels: 0.6400; 0.6450.