Analytic reviews

The US dollar fluctuated in a tight range slipping towards the Asian session to see its fifth session rebound in eight sessions from its lowest since December 20 and is preparing for its third straight weekly loss against the Japanese yen amid a lack of economic data this week by the Japanese economy In the shadow of the longest vacation in the history of Japan and after the inauguration of Crown Prince Naruhito, Emperor of Japan and on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world.

At 05:53 GMT, the USDJPY dropped 0.02% to 111.49 compared to the opening levels at 111.51, after recording a low of 111.41 and a high of 111.54.

Investors in the US economy are eyeing labor market data, which could show unemployment stabilizing at 3.8%, unchanged from March's previous reading, amid expectations that the average hourly earnings index will accelerate growth To 0.3% from 0.1% in March.

This comes in tandem with the Non-Farm Payrolls Index, which may indicate a slowdown in job creation to 181,000 jobs, up from 196,000 jobs in March, amid expectations that the trade balance index will reflect a widening deficit to $ 73.0 Billion compared to $ 72.0 billion in February, and the preliminary reading of the Wholesale Sentiment Index showed growth stability at 0.2%, little changed from February.

Leading to the final reading of the index of the Institute of Supply Services by Markit for the United States, which may reflect the stability of the widening at 52.9 compared to 55.3 in March, before the disclosure of the index of the Institute of Supply Service, which may show a wide to 57.2 compared to 56.1 in March , And we would like to point out, because the provision of services is important in the fact that the service sector in America represents more than two thirds of the GDP there.

Technical Analysis

USD / JPY is trading below the SMA 50, awaiting the resumption of the bearish trend targeting the 110.86 level initially, to continue the bearishness which depends on stability below 112.14, noting that the break of 110.86 will extend the downside wave to 110.08 directly.

The trading range for today is expected among the support at 110.80 and the resistance at 112.00.

The general trend for today is bearish.

Gold futures fluctuated in a narrowly bullish range during the Asian session to bounce back to its second session since December 24 while still resuming weekly losses and losing its fifth weekly loss in six weeks as the index The US dollar, according to the inverse relationship between them on the eve of developments and economic data expected Friday by the US economy, the largest economy in the world, which includes the talk of members of the Federal Open Market Committee.

Gold futures for June delivery rose 0.09% to currently trade at $ 1,272.90 per ounce from the opening at $ 1,271.60 per ounce, with the US dollar index falling 0.01% to 97.82 compared to the opening at 97.83. .

Investors in the US economy are eyeing labor market data, which could show unemployment stabilizing at 3.8%, unchanged from March's previous reading, amid expectations that the average hourly earnings index will accelerate growth To 0.3% from 0.1% in March.

This comes in tandem with the Non-Farm Payrolls Index, which may indicate a slowdown in job creation to 181,000 jobs, up from 196,000 jobs in March, amid expectations that the trade balance index will reflect a widening deficit to $ 73.0 Billion compared to $ 72.0 billion in February, and the preliminary reading of the Wholesale Sentiment Index showed growth stability at 0.2%, little changed from February.

Leading to the final reading of the index of the Institute of Supply Services by Markit for the United States, which may reflect the stability of the widening at 52.9 compared to 55.3 in March, before the disclosure of the index of the Institute of Supply Service, which may show a wide to 57.2 compared to 56.1 in March , And we would like to point out, because the provision of services is important in the fact that the service sector in America represents more than two thirds of the GDP there.

This comes hours after the FOMC meeting in late April and early May in Washington, DC, in which the Fed's monetary policy makers agreed to stay at rates between 2.25% and 2.50% for the meeting The third in a row to go ahead with a reduction in bond buybacks before they are frozen by next September.

Experts at Standard Chartered Bank have recently forecast that gold prices will rise again to last year's high of $ 1,365 an ounce, as prices close to the peak of the sell-off and its decline to the lowest level this year recently, amid the statement that one of the main assumptions that have The recovery is supported by the Federal Reserve's policy of patience and its suspension of plans to tighten monetary policy and raise interest rates.

According to experts, the default is based on the Federal Reserve's readiness for a possible recession by 2021, which could support the performance of safe haven gold, as they point to a surge in global central bank purchases and recent high demand for gold by China and India, By the price cycle, accordingly they expect prices to rise to $ 1,365 an ounce and that the average price next year is $ 1,375 an ounce.

Technical Analysis

Gold is trading below the 1275.30 level. Stochastic is losing its positive momentum towards the overbought areas, supporting the resumption of the bearish correction, which controls intraday and short term trading, with the next target at 1253.20.

Therefore, we will continue with the downside bias unless the 1275.30 and 1282.00 levels are breached and stability above it.

The trading range for today is among the support at 1255.00 and resistance at 1282.00.

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 see its fourth session retreat in six sessions from its lowest since May 30, 2017 and to prepare for the first weekly gain in three weeks against the US dollar on the eve of developments and data Economic outlook on Friday by euro area economies and the US economy, the world's largest economy.

At 04:22 GMT, the EURUSD rose 0.10% to 1.1207 compared to the opening at 1.1196, after reaching a high of 1.1209, while reaching a low of 1.1194.

The markets are looking ahead to Spain's fourth-largest economy to release the services PMI, which may reflect a widening of 50.4 versus 48.9 in March before we see the economies of the region as a whole Detect inflation data with the release of the initial reading of the index Consumer prices, which may reflect the acceleration of growth to 1.6% compared to 1.4% in March, and the core annual reading of the same index may show growth accelerated to 1.0% vs. 0.8%.

This comes in conjunction with the release of inflation data that is less important for the economies of the euro zone as a whole with the PPI reading, which is a preliminary index of inflationary pressures, which may reflect stability at zero levels versus 0.1% in February, while the annual reading of the index The same growth stability of 3.0%, unchanged from the previous reading of the previous month of February.

On the other hand, investors are looking for the US economy to reveal labor market data which may show unemployment stabilizing at 3.8%, unchanged from the previous March reading, amid expectations that the reading of the average hourly earnings index Growth accelerated to 0.3% from 0.1% in March.

This comes in tandem with the Non-Farm Payrolls Index, which may indicate a slowdown in job creation to 181,000 jobs, up from 196,000 jobs in March, amid expectations that the trade balance index will reflect a widening deficit to $ 73.0 Billion compared to $ 72.0 billion in February, and the preliminary reading of the Wholesale Sentiment Index showed growth stability at 0.2%, little changed from February.

Leading to the final reading of the index of the Institute of Supply Services by Markit for the United States, which may reflect the stability of the widening at 52.9 compared to 55.3 in March, before the disclosure of the index of the Institute of Supply Service, which may show a wide to 57.2 compared to 56.1 in March , And we would like to point out, because the provision of services is important in the fact that the service sector in America represents more than two thirds of the GDP there.

Technical Analysis

The pair managed to break the 1.1180 level and closed the daily candlestick below it, reinforcing expectations of the bearishness over the short and short term, and the way ahead towards the next target at 1.1100, noting that breaking this level will push the price towards 1.1000 as a next stop.

SMA 50 continues to support the suggested bearish wave, which requires stability to remain below 1.1250.

The trading range for today is expected between 1.1080 and 1.1240 support.

The general trend for today is bearish.

The Australian dollar fluctuated in a narrow range slipping towards the Asian session, its lowest since January 3, and is preparing for its third consecutive weekly loss against the US dollar following the economic developments and data that followed on the Australian economy and on the eve of economic developments and data expected today Friday by the US economy, the world's largest economy.

At 0220 GMT, the AUDUSD fell 0.06% to 0.6996 compared with the opening levels at 0.7000, after reaching a low of 0.6985, while recording a high of 0.7003.

We have followed the Australian economy by reading the service sector index by the Australian Industrial Group, which showed contraction of contraction to 46.5 compared to 44.8 in March, before we see the disclosure of housing market data with the publication of the Building Permits Index, which showed Down 15.5 percent from 19.1 percent in February.

On the other hand, investors are looking for the US economy to reveal labor market data which may show unemployment stabilizing at 3.8%, unchanged from the previous March reading, amid expectations that the reading of the average hourly earnings index Growth accelerated to 0.3% from 0.1% in March.

This comes in tandem with the Non-Farm Payrolls Index, which may indicate a slowdown in job creation to 181,000 jobs, up from 196,000 jobs in March, amid expectations that the trade balance index will reflect a widening deficit to $ 73.0 Billion compared to $ 72.0 billion in February, and the preliminary reading of the Wholesale Sentiment Index showed growth stability at 0.2%, little changed from February.

Leading to the final reading of the index of the Institute of Supply Services by Markit for the United States, which may reflect the stability of the widening at 52.9 compared to 55.3 in March, before the disclosure of the index of the Institute of Supply Service, which may show a wide to 57.2 compared to 56.1 in March , And we would like to point out, because the provision of services is important in the fact that the service sector in America represents more than two thirds of the GDP there.

Technical Analysis

The AUDUSD is trading in a negative negativity to gradually move away from 0.7044, bolstering expectations of a bearish intraday and short term trend supported by SMA 50, with our main targets expected to start at 0.6905 and extend to 0.6800.

Keep in mind that the continuation of the bearish wave depends on stability below 0.7044..

The trading range for today is among the key support at 0.6920 and resistance at 0.7044.

The general trend for today is bearish.

Amazon made a new high near 1951.00 and then rebounded towards the 1890.43 support line to test it but could not break it.

The price fluctuates below the 7 and above the 20 and 50 moving averages that support the price to rise and continue on the upside.

Stochastic begins to lose momentum and moves towards a saturation zone.

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

General direction of the movement: upward.

The US dollar fluctuated in a narrow bullish range during the Asian session to see its rebound to its second low since April 11 against the Japanese Yen amid a lack of economic data this week by the Japanese economy in the shadow of the longest vacation in Japan's history and following the inauguration of Crown Prince Naruhito Japan's emperors and on the eve of economic developments and data expected Thursday by the US economy, the largest economy in the world.

At 0540 GMT, the USDJPY rose 0.15% to 111.55, compared with the opening levels at 111.38, after reaching a high of 111.67 and a low of 111.35.

US investors are looking for a preliminary reading of the single labor cost index, which reflects a slower growth to 0.9% versus 1.9% in the fourth quarter, while the preliminary reading of non-farm productivity may show growth accelerating to 2.4% vs. 2.0%, The reading of the index of requests for aid, which may show a decline by 10 thousand requests to 220 thousand applications during the last week last Saturday.

Leading to the release of the factory demand index, which may reflect a rise of 1.0% against 0.5% decline in February, before we see the release of the US Treasury Department's semi-annual report on international economic and exchange rates, (FOMC) held in late April and early May in Washington.

Fed monetary policy makers have agreed to keep interest rates between 2.25% and 2.50% for the third consecutive meeting as we move forward in reducing the reduction of bond buyback before freezing by September, Fed Chairman Jerome Powell said the committee would be patient about raising interest rates in the coming period.

In a press conference following the expiration of the Federal Committee meeting, Powell said that the US economy and the US labor market remain strong, noting that core inflation in the US remains below the Federal Reserve target of 2 percent, adding that there is no Now need to raise or lower the federal funds rate, while emphasizing the independence of monetary policy.

The US dollar fluctuated in a narrow bullish range during the Asian session to see its rebound to its second low since April 11 against the Japanese Yen amid a lack of economic data this week by the Japanese economy in the shadow of the longest vacation in Japan's history and following the inauguration of Crown Prince Naruhito Japan's emperors and on the eve of economic developments and data expected Thursday by the US economy, the largest economy in the world.

At 0540 GMT, the USDJPY rose 0.15% to 111.55, compared with the opening levels at 111.38, after reaching a high of 111.67 and a low of 111.35.

US investors are looking for a preliminary reading of the single labor cost index, which reflects a slower growth to 0.9% versus 1.9% in the fourth quarter, while the preliminary reading of non-farm productivity may show growth accelerating to 2.4% vs. 2.0%, The reading of the index of requests for aid, which may show a decline by 10 thousand requests to 220 thousand applications during the last week last Saturday.

Leading to the release of the factory demand index, which may reflect a rise of 1.0% against 0.5% decline in February, before we see the release of the US Treasury Department's semi-annual report on international economic and exchange rates, (FOMC) held in late April and early May in Washington.

Fed monetary policy makers have agreed to keep interest rates between 2.25% and 2.50% for the third consecutive meeting as we move forward in reducing the reduction of bond buyback before freezing by September, Fed Chairman Jerome Powell said the committee would be patient about raising interest rates in the coming period.

In a press conference following the expiration of the Federal Committee meeting, Powell said that the US economy and the US labor market remain strong, noting that core inflation in the US remains below the Federal Reserve target of 2 percent, adding that there is no Now need to raise or lower the federal funds rate, while emphasizing the independence of monetary policy.

Technical Analysis

The USDJPY moved towards our awaited target at 110.86 and rebounded from there to test the SMA 50 again, which is a continuous negative pressure against the price. As long as the price is below 112.14, our bearish outlook remains valid, noting that exceeding this target will push the price About 110.08 as the next main station.

The trading range for today is expected among the support at 110.80 and the resistance at 112.00.

The general trend for today is bearish.

Gold futures fell during the Asian session, shrugging off the dollar's fourth session decline in five sessions from its highest since May 16 of 2017 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 the world.

Gold futures for June delivery fell 0.27% to currently trade at $ 1,274.80 per ounce compared to the opening at $ 1,278.50 per ounce, while the dollar index fell 0.02% to 97.60 compared to the opening at 97.63. .

US investors are looking for a preliminary reading of the single labor cost index, which reflects a slower growth to 0.9% versus 1.9% in the fourth quarter, while the preliminary reading of non-farm productivity may show growth accelerating to 2.4% vs. 2.0%, The reading of the index of requests for aid, which may show a decline by 10 thousand requests to 220 thousand applications during the last week last Saturday.

Leading to the release of the factory demand index, which may reflect a rise of 1.0% against 0.5% decline in February, before we see the release of the US Treasury Department's semi-annual report on international economic and exchange rates, (FOMC) held in late April and early May in Washington.

Fed monetary policy makers have agreed to keep interest rates between 2.25% and 2.50% for the third consecutive meeting as we move forward in reducing the reduction of bond buyback before freezing by September, Fed Chairman Jerome Powell said the committee would be patient about raising interest rates in the coming period.

In a press conference following the expiration of the Federal Committee meeting, Powell said that the US economy and the US labor market remain strong, noting that core inflation in the US remains below the Federal Reserve target of 2 percent, adding that there is no Now need to raise or lower the federal funds rate, while emphasizing the independence of monetary policy.

Otherwise, we also followed on Wednesday US Treasury Secretary Stephen Menochin said he and US Trade Representative Robert Laitheiser had concluded fruitful and constructive talks with Chinese Vice Premier Liu Hu, who will lead a Chinese delegation that will visit Washington on October 8 to conduct More discussions and business updates, coinciding with growing expectations that the two parties could reach a trade deal soon.

Experts at Standard Chartered Bank have recently forecast that gold prices will rise again to last year's high of $ 1,365 an ounce, as prices close to the peak of the sell-off and its decline to the lowest level this year recently, amid the statement that one of the main assumptions that have The recovery is supported by the Federal Reserve's policy of patience and its suspension of plans to tighten monetary policy and raise interest rates.

According to experts, the default is based on the Federal Reserve's readiness for a possible recession by 2021, which could support the performance of safe haven gold, as they point to a surge in global central bank purchases and recent high demand for gold by China and India, By the price cycle, accordingly they expect prices to rise to $ 1,365 an ounce and that the average price next year is $ 1,375 an ounce.

Technical Analysis

The price of gold traded negatively yesterday, and starts further today to break the 1275.30 level and settle below it, putting the pair under the corrective correction again to turn down and reach 1253.20 initially.

From here, the bearish trend will be likely in the coming sessions unless the levels of 1275.30 and 1282.00 are breached and stability above it, noting that exceeding the target will push the price towards 1231.10 as the next station.

The trading range for today is among the support at 1260.00 and resistance at 1285.00.

The general trend for today is bearish.

Cisco started moving out of its up channel and started testing 55.53 support in a sideways trend below the 7-20 moving averages

While SMA 50 continues to support the positive price

Stochastic gives bullish cross signals within the oversold area so we can see a new high if it leaves this area.

Pay attention to the correction that is likely to occur as a result of profit taking.

Which is likely to have begun.

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 retreat in six sessions from its lowest since January 3 against the US dollar following developments and economic data that followed on the Australian economy and on the eve of developments and economic data expected Thursday By the US economy, the world's largest economy.

At 2:18 am GMT, the AUDUSD rose 0.13% to 0.7024 compared with the opening levels at 0.7015, after recording a high of 0.7029 while a low of 0.7011.

We followed the Australian economy to reveal housing market data with the new Home Sales Index released by the Housing Industry Association, which showed a drop of 0.1% from 1.0% in March. This comes hours before the reading of building permits, which may reflect Down 12.5% ​​from 19.1% last February, while the same year's annual reading may show a drop to 25.1% versus 12.5%.

On the other hand, investors expect the US economy to disclose the preliminary reading of the single cost of labor index, which reflects the slowdown of growth to 0.9% compared to 1.9% in the fourth quarter, while the preliminary reading of the productivity of non-agricultural sectors may show accelerated growth to 2.4% compared to 2.0% In conjunction with the reading of the index of requests for aid, which may show a decline of 10 thousand applications to 220 thousand applications during the last week last Saturday.

Leading to the release of the factory demand index, which may reflect a rise of 1.0% against 0.5% decline in February, before we see the release of the US Treasury Department's semi-annual report on international economic and exchange rates, (FOMC) held in late April and early May in Washington.

Fed monetary policy makers have agreed to keep interest rates between 2.25% and 2.50% for the third consecutive meeting as we move forward in reducing the reduction of bond buyback before freezing by September, Fed Chairman Jerome Powell said the committee would be patient about raising interest rates in the coming period.

In a press conference following the expiration of the Federal Committee meeting, Powell said that the US economy and the US labor market remain strong, noting that core inflation in the US remains below the Federal Reserve target of 2 percent, adding that there is no Now need to raise or lower the federal funds rate, while emphasizing the independence of monetary policy.

Technical Analysis

The AUDUSD finished yesterday's trading below 0.7044, to activate the bearish scenario over the short and short term, and we expect negative trades targeting the 0.6800 areas mainly.

Therefore, the bearish bias will be likely in the coming sessions unless the levels of 0.7044 and 0.7135 are breached and stability above it.

The trading range for today is among the key support at 0.6940 and resistance at 0.7070.

The general trend for today is bearish.

Gold futures futures fluctuated in a narrowly bullish range during the Asian session, shrugging off the US dollar's fourth straight decline from its highest since May 16, 2017, according to the inverse relationship between them on the eve of developments and economic data expected Wednesday by The US economy is the largest economy in the world and coincides with the meeting of the Federal Open Market Committee in Washington.

Gold futures for June delivery fell 0.26% to currently trade at $ 1,285.20 per ounce, compared to the opening at $ 1,285.20 an ounce, while the US dollar index fell 0.02% to 97.50 levels. The highest in nearly two years compared to the opening at 97.53.

US investors are eyeing the release of preliminary data for the labor market, with the reading of the Change in Private Sector Index, which may reflect the acceleration of job creation to 181,000 jobs, up from 129,000 in March. The monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month.

The markets are also looking for the final reading of Markit Industrial PMI by the United States, which may reflect the stability of the expansion at 52.4, unchanged from the previous reading of the previous month and the previous reading for March, before the disclosure of the index of the Institute of Industrial Supplies and The contraction may extend to 55.0 versus 55.3 in March.

To the decisions and directions expected by the Federal Open Market Committee after the expiration of its meeting which began yesterday and ends at 6:00 pm GMT amid expectations that monetary policy makers will keep the Federal Reserve rates on short-term reference rates between 2.25% and 2. 50% and work to reduce the reduction of bond buybacks before freezing them by September.

It is also expected to see after the expiration of the Federal Committee meeting and the disclosure of the monetary policy statement and the Committee's decision on the federal funds interest by about half an hour The events of the press conference of the Governor of the Federal Reserve Jerome Powell, who noted earlier that the Committee will be patient about raising interest rates in the coming period And that it would closely watch the economic developments of the world's largest economy and be affected by external challenges.

Technical Analysis

Gold continues to fluctuate sideways around SMA 50, and since the price is above 1275.30, our bullish outlook remains valid for the coming period, and the price needs to be positive enough to push trades to 13021.60 which is our next main target.

The trading range for today is among the support at 1270.00 and resistance at 1302.60.

The general trend for today is bullish.