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The US dollar fluctuated in a narrow bullish range during the Asian session to see its rebound for the second session in a row since its May 14 low against the Japanese Yen amid tight economic data on the Japanese economy, the third largest economy in the world and on the eve of economic developments and data expected today Thursday by the US economy, the world's largest economy.

At 05:55 GMT, the pair rose 0.11% to 109.71, compared to the opening levels of 109.59, after reaching a high of 109.73, while the lowest level at 109.48.

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 USD / JPY pair traded with positive momentum to breach 109.44 and move above it again, but it faces SMA 50, which is a continuous negative pressure against the price, which protects the suggested bearish correction scenario in our recent reports, awaiting the resumption of the bearish trend at the next target. 108.80.

Stochastic supports expectations for the downside, while noting the importance of stability below 110.08 for the continuation of the suggested bearish wave.

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

Aeroflot continues to be on the downside for the fourth consecutive week.

The price is currently subjected to negative pressure from the moving averages that are moving above the price and pressure it to land.

The SMA 50 continues to move above the price forming strong resistance and the average moves near resistance at 95.64

Stochastic is a negative cross and falls into oversold areas.

General trend of the movement: bearish

The US dollar fluctuated in a tight range slipping towards the Asian session to see its fifth session rebound in seven of the highest since May 7 against the Japanese yen amid a lack of economic data on the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected today Wednesday by the US economy, the world's largest economy.

At 05:56 am GMT, the US dollar fell against the Japanese yen by 0.09% to 109.28 compared to the opening levels at 109.38, after reaching its lowest level since the 14th of this month at 109.15, while the highest during the session at 109.44.

Investors in the US economy are eyeing the release of the Chicago Purchasing Managers Index, which may reflect a 6 to 3 gain in April, just hours before the second reading of Q1 GDP, which may reflect the largest economy in the world. The world's 3.1% compared to the previous preliminary reading which indicated growth of 3.2% during the last quarter quarter.

Technical Analysis

The USD / JPY pair managed to break below 109.44 and stalled again, bolstering expectations for the expected bearish correction over intraday basis, noting that our next target is at 108.80.

In general, we will hold onto our downside if the 110.08 level is not breached and stability above it, noting that exceeding the target will extend the downside wave to 108.00 as the next major station.

The trading range for today is expected among the key support at 108.60 and the resistance at 109.80

The general trend for today is bearish

USDCAD

The pair is trading below the level of 1.3500 in anticipation of today’s Bank of Canada’s monetary policy meeting. If the bank not only leaves the interest rates as they are, but hints at a possible decrease in the near future, the pair may resume growing.

The price is above the middle Bollinger band, on the level of SMA 5 and SMA 14. RSI is reversing below the overbought territory, Soch are also reversing downwards within this zone.

Trading recommendations:

If the pair passes 1.3500, it may resume growing to 1.3550.

Gold futures traded in a tight range slipping into the Asian session to see their second straight session retreat since May 17, as the dollar index fell for a third session in five sessions from its highest since May 16, 2017 according to the opposite relationship between them on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

At 03:57 GMT Gold futures for delivery of 15 August next 0.01% to trade currently at $ 1,284.20 an ounce, showing a continuation of the rebound from the top in two weeks compared to the opening at $ 1.284.30 per ounce, while the decline of the US dollar index 0.01 % To 97.92, resuming its recovery from the upside in two years compared to the opening at 97.93.

Investors in the US economy are eyeing the release of the Chicago Purchasing Managers Index, which may reflect a 6 to 3 gain in April, just hours before the second reading of Q1 GDP, which may reflect the largest economy in the world. The world's 3.1% compared to the previous preliminary reading which indicated growth of 3.2% during the last quarter quarter.

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 offered negative trading yesterday to test the pivotal support at 1275.30, and as long as the price is above this level, our bullish outlook will remain effective over the intraday basis supported by the emergence of a positive cross signal through stochastic, waiting for a move towards 1302.60 as the next major station.

On the other hand, keep in mind that breaking 1275.30 and stability below it will stop the positive scenario and put the price under negative pressure starting with its key targets at 1253.20.

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 for the third session in five sessions from its lowest since May 19, 2017 against the US dollar on the eve of developments and economic data expected Wednesday by the economies of the region The euro and the US economy are the largest economy in the world.

At 04:25 GMT, the EURUSD rose 0.04% to 1.1164, compared to the opening at 1.1160, the pair's low during the session, while the highest at 1.1172.

The markets are looking for France, the second largest economy in the euro area, to reveal the final reading of the Gross Domestic Product (GDP), which could reflect stable growth of 0.3%, unchanged from the previous quarter. % Unchanged from the annual reading for the fourth quarter.

This comes in tandem with the release of inflation data for the region's second largest economy with the release of the preliminary reading of the consumer price index, which may show a stable growth of 0.3%, unchanged from last April, and the publication of the French consumer spending index, which may reflect a rise 0.5% versus 0.1% in March.

The German central bank governor Jean Widman gave a speech under the title "Prometheus and Epimetheus in the digital age" at a payment seminar in Frankfurt, before we see the reading of the change in unemployment from Germany, the largest economy in the region, which may show a contraction of the decline to 8 thousand versus 12 thousand In April, before the disclosure of the semi-annual financial stability review report by the European Central Bank.

Other than that, we have followed this week the report that the German Chancellor Angela Merkel decided to stay in power until 2021 because she believes that her successor candidate for that position Kramp Carnabauer is not suitable for that position and is not qualified to be the German Chancellor succeeding, Bloomberg News that the German Chancellor is scheduled to step down as a leader of the Christian Democratic Union.

In another context, Italian Deputy Prime Minister Matteo Salveni said that the rules of the European Union should, aimed at reducing unemployment levels rather than reducing the government deficit, explaining that the rules should not aim to reduce the budget deficit of the government less than three percent, adding that it is not from Italian bond yields are expected to be higher than in other countries.

In the same vein, Salvini also noted that he would do his best to change the EU's financial rules, which he considers outdated and no longer valid and must be changed, commenting on the report that the European Commission has introduced disciplinary measures against Italy because of its public finances , Followed by Vice-President of the European Commission Pierre Moscowevi on his refusal to impose sanctions on the Commission on Italy.

On the other hand, investors are looking for the US economy to unveil the Chicago PMI, which may reflect a widening to a value of 6 to 3 in April, just hours before the second reading of Q1 GDP, which may reflect widening The world's largest economy was up 3.1% from the previous preliminary reading, which showed 3.2% growth in the last quarter.

Technical Analysis

The pair managed to break the 1.1180 level and closed the daily candle below it, which supports the continuation of our bearish outlook for the coming sessions, noting that Stochastic is providing a negative cross signal to stimulate the pair to achieve further bearishness over the short and short term, The first one is located at 1.1100.

We note that breaking the target level will push the price towards 1.1000 as the next major station, while stability below 1.1255 is an important condition for the continuation of the suggested decline.

The trading range for today is expected between 1.1080 and 1.1215 support

The general trend for today is bearish

The Australian dollar fluctuated in a narrow bullish range during the Asian session against the US dollar amid a lack of economic data by the Australian economy earlier this week and on the eve of developments and economic data expected Wednesday by the US economy, the world's largest economy

At 0235 GMT, the AUDUSD fell 0.04% to the levels of 0.6917 compared to the opening levels of 0.6921, after reaching the highest level at 0.6931 while the lowest level at 0.6915.

Investors in the US economy are eyeing the release of the Chicago Purchasing Managers Index, which may reflect a 6 to 3 gain in April, just hours before the second reading of Q1 GDP, which may reflect the largest economy in the world. The world's 3.1% compared to the previous preliminary reading which indicated growth of 3.2% during the last quarter quarter.

Technical Analysis

The AUDUSD continues to fluctuate in a tight run around 0.6920, noting that Stochastic is close to providing a negative cross signal over the daily time frame, awaiting the pair to stimulate the resumption of the main bearish trend, with the next target at 0.6800.

SMA 50 continues to support the expected bearish wave, noting that stability below 0.6945 represents the first condition for the continuation of the suggested decline.

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

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session to see its second straight session retreat since May 16 against the US dollar on the eve of economic developments and data expected Tuesday by the Eurozone economies and the US economy. The world's largest economy.

At 04:59 GMT, the EURUSD fell 0.13% to 1.1180 compared to the opening at 1.1193, after the pair reached a low of 1.1178, while reaching a high of 1.1196.

Investors are currently looking ahead to the reading of the import price index, which may reflect a rise of 0.5% against the stability of zero levels in March, while the annual reading of the same index may show a slowdown of 1.6% to 1.7%. In conjunction with the disclosure of a statistical reading of the German consumer confidence index GFK, which may reflect the stability of the widening at 10.4, with little change from May.

This comes before we see the Euro-Zone economy as a whole, with the annual release of the M-3 money supply, which may reflect slowing growth to 4.4% versus 4.5% in March, coinciding with the annual reading of the Private Loan Index, which may indicate a faster pace of growth To 3.3% compared to 3.2% in the previous annual reading for March.

The European Commission, Cecilia Malmstron, said earlier this week that the European Union categorically rejects the inclusion of agriculture in trade talks with the United States, as Washington has recently asked, explaining that Brussels is ready to start negotiations on industrial tariffs with Washington, That Washington is not ready for that at the moment.

On the other hand, US investors are looking to release housing data with the Housing Price Index reading, which may reflect slowing growth to 0.2% vs. 0.3%, and the S & P House Price Index, which may show growth accelerating to 3.1% versus 3.0% in February, leading to the Consumer Confidence reading, which may reflect a widening of 130.1 vs. 129.2 in April.

Technical Analysis

The EUR / USD pair is showing some slight bearishness now after facing the SMA 50 in the last sessions, in conjunction with the stochastic negativity of the clearly positive momentum and reaching the overbought areas, waiting for the pair to stimulate further bearishness over the short term and the short term targeting 1.1100 then 1.1000 as the next major stations.

The continuation of the suggested bearish wave requires that the daily closing remains below 1.1255.

The trading range for today is expected between 1.1100 and 1.1255 support.

The general trend for today is bearish.

Gold futures traded in a tight range slipping towards the Asian session to see a rebound from the top since May 17 as the dollar index rose for the second straight session from its 16-month low on the back of recent developments. Economic growth expected Tuesday by the US economy, the largest economy in the world and coincided with the visit of US President Donald Trump to Japan.

Gold futures for August delivery fell 0.09% to currently trade at $ 1,288.00 per ounce, showing a two-week rebound from the top of $ 1.289.20 per ounce. The US dollar index gained 0.07% To 97.80 levels, showing a rebound from its 2-week low compared to the opening at 97.74.

US investors are eyeing the release of housing market data with the Home Price Index reading, which may reflect slowing growth to 0.2% versus 0.3%, and the S & P House Price Index, which may show growth accelerating to 3.1% vs. 3.0% Last February, leading to the Consumer Confidence reading, which may reflect a widening to 130.1 vs. 129.2 in April.

In addition, the markets are looking forward to the visit of US President Trump to Asia's second largest economy and the third largest economy in the world after the United States and China as part of a four-day international visit to Japan that began yesterday and at the start of a joint press conference with Japanese Prime Minister Shinzo Abe Announced his hopes of announcing a trade agreement with Japan soon, prompting investors' appetite for risk.

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 has not shown any strong movement in the last sessions, and the price is positively supported by SMA 50, while Stochastic is attempting to shed its negative momentum.

Therefore, we believe that opportunities are available for resuming the expected bullish direction over intraday basis, where next target resides at 1302.60, while achieving stability above 1275.30.

The trading range for today is among the key support at 1275.00 and resistance at 1302.60.

The general trend for today is bullish.

The US dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound to its third straight session since May 15 against the Japanese Yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the brink of economic developments and data expected Tuesday By the US economy, the world's largest economy, in conjunction with US President Donald Trump's visit to Tokyo.

At 05:59 GMT, the greenback was up 0.05% at 109.56 compared with the opening level at 109.51, after reaching a high of 109.63, while the lowest at 109.43.

We have followed the Japanese economy to reveal inflation data with the release of the annual PPI, which showed a slowdown in growth to 0.9% compared with 1.1% in March, contrary to expectations that indicated a rapid growth to 1.2%, and that we see the issuance of the annual reading Core CPI, which showed a rapid growth to 0.7% versus 0.5% in March.

On the other hand, investors are looking for the US economy to release housing data with the Housing Price Index reading, which may reflect slowing growth to 0.2% versus 0.3%, and the S & P House Price Index, which may show growth accelerating to 3.1% versus 3.0% in February, leading to the Consumer Confidence reading, which may reflect a widening of 130.1 vs. 129.2 in April.

In addition, the markets are looking forward to the visit of US President Trump to the second largest economy in Asia and the third largest industrial country in the world after the United States and China. The visit comes as part of a four-day international visit to Japan. Abe hopes to announce a trade agreement with Japan soon.

Technical Analysis

The pair is hovering around the 109.44 level, noting that Stochastic is losing its positive momentum to reach the overbought areas, supporting the chances of resuming the upcoming bearish trend for the coming period, which has the next target at 108.80.

SMA 50 supports the suggested bearish wave, which requires stability to remain below 110.08.

The trading range for today is expected among the key support at 108.80 and the resistance at 109.80.

The general trend for today is bearish.