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The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its fourth session rebound in seven sessions from its lowest since May 17, when it tested its lowest since January 3 against the US dollar following developments and economic data that Followed by the Australian economy and on the eve of economic developments and data expected Friday by the US economy.

At 3:18 am GMT, the AUDUSD rose 0.03% to 0.6914 compared to the opening levels at 0.6912, after reaching a high of 0.6918, while reaching a low of 0.6901.

We have followed the Australian economy to reveal the reading of the private sector credit index, which showed a slowdown of growth to 0.2% compared to the previous March and expectations of 0.3%, and the annual reading of the same index slowing growth to 3.7% compared to 3.9%, worse than Expectations at 3.8%, otherwise we would like to point out, given that the Australian dollar against the US dollar in weekly losses and the second monthly loss, respectively.

On the other hand, investors are currently looking for the US economy to reveal their spending and personal income data, which may reflect a slowdown in personal spending growth to 0.2% from 0.9% in March, and personal income growth accelerated to 0.3% from 0.1% Core personal consumption expenditure rose 0.2% against stability at zero levels.

This comes ahead of the Chicago PMI reading, which may extend to 55.1 versus 52.6 last April, before the final reading of the University of Michigan Consumer Confidence Index, which may reflect a contraction of the widening to 102.0 compared to the initial reading of the month May at 102.4 and 97.2 in April.

(FOMC) and Federal Reserve Bank of New York Chairman John Williams at the event hosted by the Bank of New York Federal Reserve, where he will deliver a speech under the title "Theory and Practice of Monetary Policy and Minimum Interest Rates," hours after the second reading of the output Gross domestic product the world's largest economy 3.1% during the first quarter last.

Technical Analysis

AUDUSD continues to oscillate in a sideways course, noting that Stochastic is currently beginning to cross negatively, posing a negative incentive. We expect to push the pair to resume the main bearish trend, with the next target at 0.6800, while stability below 0.6945 Important to achieve.

The trading range for today is expected among the support at 0.6840 and resistance at 0.6945.

The general trend for today is bearish.

Amazon is back on the downside after stabilizing in 1890.43 support.

The price fluctuates below the moving averages 7-7 and 50 which press the price to drop and continue to decline and test the next support 1765.47.

Stochastic is out of oversold areas but is moving close to it and therefore could return to the movement within this area and the price drops to support levels 1756.27.00.

The expected movement between the support 1765.27 and the resistance 2050.80.

General direction of the movement: bearish.

The US dollar fell significantly during the Asian session to witness its lowest since early February and prepare for the second consecutive weekly losses and monthly losses against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the eve of economic developments and data Which is expected Friday by the US economy, the world's largest economy.

At 05:59 GMT, the pair was down 0.66% to 108.90 compared to the opening levels at 109.62, the pair's highest level during the session, while the pair reached its lowest level in nearly four months at 108.89.

We followed the Japanese economy to release inflation data with the Tokyo CPI reading, which showed a slowdown in growth to 1.1% from 1.4% in April, worse than expectations of a 1.2% slowdown in growth, The index itself, which excludes fresh food, has slowed growth to 1.1% from 1.3%, also worse than expected at 1.2%.

In the same context, the Tokyo Core CPI, excluding fresh food and energy, showed a slowdown in growth to 0.8% from 0.9% in April, above expectations of 1.0%, coinciding with the disclosure of labor market data for the world's third-largest economy Which fell unemployment rates to 2.4% in line with expectations, compared to 2.5% in March.

This came ahead of the seasonally adjusted retail sales, which showed stability at zero, versus 0.2% in March, in contrast to expectations for a 0.6% growth rate, while the annual reading of the same index showed slower growth to 0.5% With the previous annual reading for March and expectations at 1.0%.

We also followed the world's third-largest industrial manufacturing company for the preliminary reading of industrial production, which showed a 0.6% rise from 0.6% in March, beating expectations for a 0.2% rise. Compared to 4.3% in the previous annual reading for March, also outperforming expectations of a contraction of 1.5%.

To the housing market data, with a revised 5.7% rise in 931K versus 10.0% at 989K in March, worse than expectations for a 0.8% decline at 983K. In conjunction with the release of the Consumer Confidence Index, which showed a drop to 39.4 versus 40.4 in April, above expectations of 40.6.

On the other hand, investors are currently looking for the US economy to reveal their spending and personal income data, which may reflect a slowdown in personal spending growth to 0.2% from 0.9% in March, and personal income growth accelerated to 0.3% from 0.1% Core personal consumption expenditure rose 0.2% against stability at zero levels.

This comes ahead of the Chicago PMI reading, which may extend to 55.1 versus 52.6 last April, before the final reading of the University of Michigan Consumer Confidence Index, which may reflect a contraction of the widening to 102.0 compared to the initial reading of the month May at 102.4 and 97.2 in April.

(FOMC) and Federal Reserve Bank of New York Chairman John Williams at the event hosted by the Bank of New York Federal Reserve, where he will deliver a speech under the title "Theory and Practice of Monetary Policy and Minimum Interest Rates," hours after the second reading of the output Gross domestic product the world's largest economy 3.1% during the first quarter last.

Technical Analysis

The USD / JPY pair has made more positive attempts but is fluctuating near 109.44, and as long as the price is below 110.08, our bearish outlook remains intact, and the price needs to break 109.44 to facilitate the move towards 108.80 which is our next main target.

We note that SMA 50 and Stochastic are negative factors supporting the bearish outlook.

The trading range for today is among the key support at 108.80 and resistance at 110.00.

The general trend for today is bearish.

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to bounce back to its second lowest session since May 23, when its lowest since May 19, 2017 was tested against the US dollar on the brink of developments And economic data expected Friday by the economies of the euro area and the US economy the largest economy in the world.

At 5:10 am GMT, the EURUSD rose 0.03% to 1.1132, compared to the opening at 1.1129, after reaching the lowest level at 1.1125, while reaching a high of 1.1140.

The markets for Germany, the biggest economy in the euro area, are looking for a reading of the Retail Sales Index, which could reflect a 0.4% rise from 0.2% in March. The same index may rise 1.3% against 2.1% On inflation data for Germany with the release of the preliminary reading of the consumer price index, which may reflect a slowdown in growth to 0.3% compared to 1.0% in April.

This comes before we see Italy, the third largest economy in the region disclosing the final reading of GDP for the first quarter, which may reflect 0.1% growth, unchanged from the previous preliminary reading and 0.2% annual growth, also unchanged from the preliminary reading, to reveal From Italy's consumer price index, which may reflect a stable pace of growth at 0.3%, unchanged from April.

On the other hand, investors are currently looking for the US economy to reveal their spending and personal income data, which may reflect a slowdown in personal spending growth to 0.2% from 0.9% in March, and personal income growth accelerated to 0.3% from 0.1% Core personal consumption expenditure rose 0.2% against stability at zero levels.

This comes ahead of the Chicago PMI reading, which may extend to 55.1 versus 52.6 last April, before the final reading of the University of Michigan Consumer Confidence Index, which may reflect a contraction of the widening to 102.0 compared to the initial reading of the month May at 102.4 and 97.2 in April.

(FOMC) and Federal Reserve Bank of New York Chairman John Williams at the event hosted by the Bank of New York Federal Reserve, where he will deliver a speech under the title "Theory and Practice of Monetary Policy and Minimum Interest Rates," hours after the second reading of the output Gross domestic product widest economy of the world 3.1% during the first quarter.

Technical Analysis

The EUR / USD pair continues to decline to close to the 1.1100 level, and the price is under continuous negative pressure coming from the SMA 50. The bearish trend remains likely over the short term and intraday basis, with a break below 1.1000. 1.1180 and 1.1260 were not breached.

The trading range for today is expected between 1.1050 and 1.1200 support.

The general trend for today is bearish.

USDCAD

The pair has reached yesterday’s target and may continue growing if the oil prices resume falling, while today’s US inflation data indicate positive dynamics.

The price is above the middle Bollinger band, above SMA 5 and SMA 14.RSI is entering the overbought territory. Stoch are also moving in this direction.

Trading recommendations:

If the pair passes 1.3550, it will continue further up to 1.3600.

USDCAD

The pair stopped at the level of 1.3500 due to the local recovery of oil prices. However, if they reverse downwards again, and today’s US GDP data are strong, the pair may surge upwards once again.

The price is above the middle Bollinger band, below SMA 5 and above SMA 14. RSI is above the level of 50% and is moving down. Stoch aren’t informative.

Trading recommendations:

If the pair remains above the mark of 1.3500, it may resume growth to 1.3550.

Gold futures traded in a tight range slipping during the Asian session, negating the negative stability of the dollar index near its highest in two years, according to the inverse relationship between them on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world.

Gold futures for August delivery fell 0.09% to currently trade at $ 1,282.20 per ounce from the opening at $ 1,285.10 an ounce, while the US dollar index fell 0.02% to 98.12 compared to the opening at 98.13. .

Investors are currently waiting for the US economy to release the second GDP reading, which may reflect the world's largest economy expanded 3.1% in the first quarter compared to the previous preliminary reading of 3.2%, while the second reading of GDP may show stabilization of growth At 0.9%, unchanged from the previous reading.

This comes in conjunction with the reading of the index of requests for aid for the week ending May 25, which may reflect a rise of 5 thousand applications to 216 thousand applications compared to 211 thousand requests in the previous weekly reading, and the disclosure of the trade balance index of goods, which may show widening deficit To $ 72.0 billion compared to $ 71.4 billion in March.

As well as the initial reading of the Wholesale Inventories Index, which could show a 0.2% rise from March's 0.1% decline, leading to the release of housing market data with the release of Existing Home Sales, which may show growth slowing to 0.9% from 3.8% in March. March, before we see the talk of Fed Deputy Governor and Federal Open Market Committee member Richard Clarda at the New York Economic Club.

Otherwise, Beijing has warned Washington not to reduce its ability to protect its interests, according to an article in the People's Daily, the official newspaper of the ruling Communist Party of China. "We advise the US not to underestimate China's ability to protect its rights and development interests. I did not warn you! "This came hours after the Chinese press reported that Beijing may be using rare earth metals to respond to Washington.

The rare metals of the Chinese-dominated land are an important component of industry and technology as well as defense industries in the United States. These responses came from Beijing hours after US President Donald Trump said he was "not yet ready" to conclude a trade deal with his country. China, which has increased the chances of escalating the trade war between the two largest economies in the world and weighs successively on the prospects of global growth.

US President Trump noted earlier this week that China could expect to face more tariffs on its exports to the country, adding that Washington had already prepared a list of Chinese goods worth $ 300 billion, following the recent US and China Tariffs on each other's goods to 25% of 10% in the escalation of trade protection between them.

On the other hand, we followed the Russian Ministry of Finance announced last week that the production of Russia (the third largest gold producer globally) of gold in the first three months of this year rose to 58.12 metric tons compared to 51.61 in the same period last year 2018, The ministry said that production during the first quarter last included 45.95 metric tons of gold extracted from mines compared to about 39.78 in the first quarter of the previous year.

Technical Analysis

The price of gold shows some slight bearish bias to test the main bullish trend line, but since the price is above 1275.30, our bullish outlook remains valid for the coming period as a break will press the price back to the downside correction again, Next at 1302.60.

The trading range for today is among the support at 1270.00 and resistance at 1300.00

The general trend for today is bullish.

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its rebound to its second lowest session since May 23, when its lowest since May 19, 2017 against the US dollar, Economic data by the Euro-zone economies on the eve of developments and economic data expected Thursday by the US economy.

At 0511 GMT, the EURUSD rose 0.05% to 1.1137, compared to the opening at 1.1131, the pair's low during the session, while the highest at 1.1143.

Investors are currently waiting for the US economy to release the second GDP reading, which may reflect the world's largest economy expanded 3.1% in the first quarter compared to the previous preliminary reading of 3.2%, while the second reading of GDP may show stabilization of growth At 0.9%, unchanged from the previous reading.

This comes in conjunction with the reading of the index of requests for aid for the week ending May 25, which may reflect a rise of 5 thousand applications to 216 thousand applications compared to 211 thousand requests in the previous weekly reading, and the disclosure of the trade balance index of goods, which may show widening deficit To $ 72.0 billion compared to $ 71.4 billion in March.

And also in conjunction with the initial reading of the wholesale stocks index, which may show a rise of 0.2% against a 0.1% decline in March, before we witness the release of housing market data with the release of existing home sales, which may indicate a slowdown in growth to 0.9% versus 3.8% March, to the talk of Deputy Governor of the Federal Reserve and member of the Federal Open Market Committee Richard Clarda at the New York Economic Club.

Technical Analysis

Yesterday, the EURUSD traded with negative resistance to reach our first target at 1.1100, reinforcing expectations for a continuation of the bearish trend over the coming sessions, with a reminder that breaking this level would push the price towards 1.1000 as the next major station.

Therefore, we will continue to bias the bearish trend supported by SMA 50 unless the 1.1255 level is breached and stability is maintained with a daily closing above it.

The trading range for today is expected between 1.1050 and 1.1200 support

The general trend for today is bearish

Cisco shares fell to a support level of 52.89 after reaching the top 56.99 week

the past.

The moving averages move above the price and form price resistance levels and pressure to drop.

Stochastic in the oversold area gives a signal out of which therefore we can see a rise in price to the resistance area and the previous high of 56.99

The general trend of the movement is bullish

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its fourth session rebound in six sessions from its lowest since May 17, when its lowest since January 3 was tested against the US dollar following developments and economic data that followed it. Australian economy is on the brink of economic developments and data expected Thursday by the US economy, the largest economy in the world.

At 02:38 GMT, the AUDUSD rose 0.06% to 0.6921 compared to the opening levels of 0.6918, after reaching a high of 0.6929, while reaching a low of 0.6916.

We also followed the Australian economy's release of the housing market data with the construction permits reading, which showed a contraction of 4.7% from 13.4% last March, in contrast to expectations of a 0.1% rise. Compared to 25.4%, in contrast to expectations of a decline of 22.4%.

This came in line with the release of the Private Equity Index, which showed a decline of 1.7% compared to a 1.3% increase in the fourth quarter, worse than the 0.5% growth forecast. This comes on the eve of the disclosure of other housing market data by the Industry Association Housing with the release of the new home sales index for April.

On the other hand, investors are currently waiting for the US economy to release the second reading of GDP, which may reflect the largest global economy, 3.1% in the first quarter compared to the previous preliminary reading of 3.2% growth, while the second reading of the Gross Domestic Product Prices stabilized at 0.9%, unchanged from previous reading.

This comes in conjunction with the reading of the index of requests for aid for the week ending May 25, which may reflect a rise of 5 thousand applications to 216 thousand applications compared to 211 thousand requests in the previous weekly reading, and the disclosure of the trade balance index of goods, which may show widening deficit To $ 72.0 billion compared to $ 71.4 billion in March.

And also in conjunction with the initial reading of the wholesale stocks index, which may show a rise of 0.2% against a 0.1% decline in March, before we witness the release of housing market data with the release of existing home sales, which may indicate a slowdown in growth to 0.9% versus 3.8% March, to the talk of Deputy Governor of the Federal Reserve and member of the Federal Open Market Committee Richard Clarda at the New York Economic Club.

Technical Analysis

The AUDUSD shows more sideways and narrow range trading around 0.6920, so there is no change in the bearishness scenario which depends on stability below 0.6945, while our next main target is 0.6800.

The trading range for today is expected among the support at 0.6840 and resistance at 0.6960

The general trend for today is bearish