Analytic reviews

USDCAD

The pair is trading within the range of 1.3280–1.3385. The current situation may last as long as early next week due to the contradictory signals that dominate the markets. On one hand, it’s the unclear future of the oil prices growth, on the other hand, it’s the expected interest rates reduction by the Fed and no prospects of increasing interest rates by the Bank of Canada.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is moving horizontally above the level of 50%. Stoch are moving down.

Trading recommendations:

Sell the pair as it’s growing, approximately from 1.3385 with a likely reversal and drop to 1.3280.

USDCAD

The pair is trading within the range of 1.3280–1.3385. It’s balanced by both the potential weakness of the USD and the lack of indications of interest rates hike in Canada. Even the growing crude oil prices can’t significantly support the CAD rate due to the lasting uncertainty on the world markets.

The price is below the middle Bollinger band, above SMA 5 and SMA 14. RSI is moving horizontally slightly above the level of 50%. Stoch are in the overbought territory.

Trading recommendations:

Sell the pair against the backdrop of positive data from the US from approximately 1.3385 with a likely reversal downwards to 1.3280.

The US dollar fell during the Asian session to witness a rebound to the second session of its highest since December 20 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 developments and economic data expected Thursday by the US economy The world's largest economy.

At 05:51 GMT, the USDJPY declined 0.17% to 111.87, compared to the opening levels at 112.06, after recording a low of 111.85 and a high of 112.07.

We followed the release of Markit Industrial PMI's preliminary reading of Japan, the world's third-largest industrial country, which showed deflation shrank to 49.5 from 49.2 in March, beating expectations of deflation to 49.4, A reading below 50 indicates a contraction of the sector, while reading at 50 or higher reflects a widening of the sector.

In another context, Bank of Japan Governor Haruhiko Kuroda said Tuesday that monetary easing could be expanded if inflationary pressures in his country are lost, as inflation is debated despite strong conditions in the labor market, adding that there is no need to change The Japanese central bank's target for inflation at 2 percent for the moment, explaining that investment fund purchases are not to stabilize the financial markets.

Japan's central bank governor Kuroda also noted that exports are somewhat weak due to the slowdown in global economic growth, noting that capital spending is very strong and that he expects his country's economy to continue to grow moderately. He said earlier this week that Japan's economy slowed slightly during Recently, wage growth has been somewhat frustrating.

Kuroda said at the time that Japan's labor productivity grew faster than other developed countries, which weighed heavily on inflationary pressures. He said there was a rise in prices in the labor-intensive sector, with the expectation that the next step would be to cut interest rates. The Japanese central bank has time to make a decision, adding that the yen is stable between 110 and 120 per US dollar and that the current levels are satisfactory.

On the other hand, investors are currently looking for the US economy to detect a reading of retail sales, which accounts for about half of consumer spending, which accounts for more than two thirds of US GDP, which could reflect a 0.9% rise versus a 0.2% fall in February, The core reading of the index itself rose 0.7% from 0.4% in February.

This comes in conjunction with the April 13th Jobless Claims reading, which may reflect an 11,000 increase in demand to 207,000 versus 196,000, and the Philadelphia Manufacturing Index, which may reflect a contraction to 11.2 Compared to 13.7 in March, before we saw the initial reading of the PMI Index by the US.

It is expected that the initial reading of the PMI index for America will extend to 52.8 compared to 52.4 in March, while the preliminary reading of the PMI may show a contraction of 55.0 to 55.3, leading to a reading of wholesale stocks that may indicate slower growth To 0.3% versus 0.8% in January, and leading indicators showed accelerated growth to 0.4% versus 0.2% in February.

Technical analysis:

The USD / JPY pair continues to fluctuate near the 112.14 level, and some slight bearishness is seen with the opening of today's trading, awaiting further downside during the upcoming sessions to visit 111.30 and then 110.86 mainly.

Overall, we continue to hold the downside if 112.14 is not breached and the daily closing is above it.

The trading range for today is among the key support at 111.10 and resistance at 112.60

The general trend for today is bearish

Gold futures fluctuated in a tight range slipping towards the Asian session after yesterday's gains of the year 2019 were offset by the longest daily losing streak since October 2016 amid the positive stability of the US dollar index on the back of developments And economic data expected Thursday by the US economy, the largest economy in the world.

Gold futures for June delivery fell 0.13% to currently trade at $ 1,274.50 per ounce, its lowest since December 26 compared to the opening at $ 1,276.20 an ounce. USD 0.01% to 97.02 compared to the opening at 97.01.

Investors are currently waiting for the US economy to disclose the reading of retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect a rise of 0.9% versus a 0.2% drop in February. Up 0.7% from 0.4% in February.

This is in line with the April 13th Jobless Claims reading, which may reflect an 11,000-point increase to 207,000, and the Philadelphia Manufacturing Index, which may reflect a contraction of 11.2 versus 13.7 in March, In March, before we saw the initial reading of Markt Industrial and Service PMI by Markit from the United States.

It is expected that the initial reading of the PMI index for America will extend to 52.8 compared to 52.4 in March, while the preliminary reading of the PMI may show a contraction of 55.0 to 55.3, leading to a reading of wholesale stocks that may indicate slower growth To 0.3% versus 0.8% in January, and leading indicators showed accelerated growth to 0.4% versus 0.2% in February.

In addition, the markets are looking at the ongoing trade negotiations between the United States and Japan in Washington, as well as the recent negotiations with Beijing and the protectionism that the US administration intends to take with the European Union, threatening Brussels to respond and impose customs duties as well. About the EU's support for the European Airbus competition for the Boeing Company of America.

Technical analysis:

The price of gold confirmed the breach of 1275.30 after closing the daily candlestick below it, which supports the continuation of our expectations for the downside trend effectively during the coming period, paving the way for the move towards 1253.20 and then 1231.13 as the next main targets.

We note that the expected decline is affected by the completion of the three-way triangle pattern. The price is under constant negative pressure from SMA 50, taking into consideration that breaching the levels of 1275.30 and 1282.00 will push the price to test the level of 1302.60 again before any new attempt to decline.

The trading range for today is among the support at 1253.20 and resistance at 1282.00

The general trend for today is bearish

The single currency of the European Union region fluctuated throughout the Asian session against the US dollar on the brink of economic developments and data expected Thursday by the Euro-Zone economies and the US economy, the world's largest economy.

At 4:37 am GMT, the EURUSD dropped 0.02% to 1.1294 compared to the opening at 1.1296, after the pair reached a low of 1.1290 and a high of 1.1301.

The markets are currently waiting for the euro zone's biggest economy to see the Producer Price Index (PPI), a preliminary indicator of inflationary pressures, which could reflect 0.2% growth versus 0.1% contraction in February, while the index's annual reading could see growth accelerating to 2.7% Compared with 2.6% in the previous February reading.

This is due to the fact that both the French economy and the economy of the region as a whole have seen the initial reading of the Markit Index for industrial and service purchasing managers this month, which may reflect the shrinking of the service sector, the expansion of the industrial sector in France, the contraction of the service sector and contraction of the industrial sector in Germany, To the contraction of the expansion of the service sector and shrink industrial contraction in the economies of the region as a whole.

Otherwise, we followed yesterday the European Trade Commission, Cecilia Malmstrom, that the European Union may impose customs duties on US products, including aircraft, chemicals in addition to food products, such as frozen fish and citrus estimated at $ 20 billion, explaining that this is part of the work to support European companies compete on fair and equal terms.

Cecilia Malmström recently reported that the European Union would respond to US $ 11 billion tariffs on European goods within two days and that it was ready to start trade talks with the United States at any time, against the background of the dispute between Washington and Brussels The first support of Boeing and the other support to Airbus Europe.

On the other hand, investors are currently looking for the US economy to detect a reading of retail sales, which accounts for about half of consumer spending, which accounts for more than two thirds of US GDP, which could reflect a 0.9% rise versus a 0.2% fall in February, The core reading of the index itself rose 0.7% from 0.4% in February.

This comes in conjunction with the April 13th Jobless Claims reading, which may reflect an 11,000 increase in demand to 207,000 versus 196,000, and the Philadelphia Manufacturing Index, which may reflect a contraction to 11.2 Compared to 13.7 in March, before we saw the initial reading of the PMI Index by the US.

It is expected that the initial reading of the PMI index for America will extend to 52.8 compared to 52.4 in March, while the preliminary reading of the PMI may show a contraction of 55.0 to 55.3, leading to a reading of wholesale stocks that may indicate slower growth To 0.3% versus 0.8% in January, and leading indicators showed accelerated growth to 0.4% versus 0.2% in February.

Technical analysis:

The narrow range continues to dominate the EUR / USD, which continues to fluctuate around the SMA 50 so that there is no change in the expected bullish intraday scenario, which depends on stability above 1.1235 and 1.1180, while its main targets are at 1.1350 and 1.1443.

The trading range for today is expected among the 1.1200 support and 1.1380 resistance

The expected general trend for today: temporarily bullish

There is no new change in Cisco, where the price continues to rise and achieve new historical levels despite yesterday's close of the session

Positive momentum comes from moving averages that are still moving below the price in a bullish order of 7-20-50, respectively.

Stochastic is out of the overbought area so we will probably see a correction

The general trend of the movement is bullish

The Australian dollar fluctuated in a tight range slipping towards the Asian session to see its rebound to its second-highest session since February 21 against the US dollar following developments and economic data that followed it on the Australian economy and on the eve of developments and economic data expected Thursday by the US economy.

At 02:29 am GMT, the AUDUSD dropped 0.01% to 0.7178 compared with the opening levels at 0.7179, after reaching a low of 0.7165 and a high of 0.7199.

We followed the release of the PMI PMI reading from Australia, with the initial reading of the Industrial PMI showing a widening of 51.0 versus 52.0 in March, while the preliminary reading of the PMI showed a widening to its value 50.5 versus a contraction of 49.3 in March.

This was before we saw data on the labor market, which showed a rise in the reading of unemployment rates to 5.0% in line with expectations compared to 4.9% in February, when the lowest since mid-2011, and accelerated growth in reading the change in employment to 25.7 thousand versus 10.7 A, outperforming expectations at 15.2K, in conjunction with the Business Confidence Index showing a drop to 1 versus 1 in the fourth quarter.

On the other hand, investors are currently looking for the US economy to reveal the reading of retail sales, which accounts for about half of consumer spending, which accounts for more than two thirds of the US gross domestic product, which could reflect a rise of 0.9% versus 0.2% decline in February, as may appear The core reading of the index itself rose 0.7% from 0.4% in February.

This comes in conjunction with the April 13th Jobless Claims reading, which may reflect an 11,000 increase in demand to 207,000 versus 196,000, and the Philadelphia Manufacturing Index, which may reflect a contraction to 11.2 Compared to 13.7 in March, before we saw the initial reading of the PMI Index by the US.

It is expected that the initial reading of the PMI index for America will extend to 52.8 compared to 52.4 in March, while the preliminary reading of the PMI may show a contraction of 55.0 to 55.3, leading to a reading of wholesale stocks that may indicate slower growth To 0.3% versus 0.8% in January. Leading indicators showed growth accelerated to 0.4% from 0.2% in February

Technical analysis:

The AUDUSD is trading sideways with a narrow range near 0.7200 and is getting steady positive support from SMA 50, so the bullish scenario remains likely over the coming sessions, noting that our main awaited target resides at 0.7250, while stability above 0.7125 The first condition for the continued rise of the proposed.

The trading range for today is among the key support at 0.7125 and resistance at 0.7260

The general trend for today is bullish

The US dollar fluctuated in a narrow range slipping towards the Asian session to see its rebound from its highest level since December 20 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 expected Wednesday By the US economy, the world's largest economy.

At 05:50 GMT, the USDJPY dropped 0.02% to 111.98 compared to the opening levels at 112.00, after reaching the lowest level at 111.92, while the highest in four months at 112.17.

On the Japanese economy, the reading of the trade balance showed that the surplus widened to 529 billion yen from 335 billion yen in February, exceeding expectations of a surplus of 363 billion yen, while the revised trade balance showed a deficit With 118 billion yen against a surplus of 116 billion yen, the current reading better than the forecast of a deficit of 243 billion yen.

In the same vein, the annual reading of Japan's exports, the nerve of the world's third-largest economy, showed a 2.4% drop to 1.2% in February's previous reading, beating expectations of a 2.6% Imports rose 1.1% from 6.6% in the previous February reading, below expectations of a 2.8% rise.

This came before the world's third-largest industrial sector reported industrial data released with the final reading of industrial production, which showed growth slowed to 0.7% from February's preliminary reading and expectations of 1.4% versus a 3.4% drop in January. January, while the same year's index showed a widening of the decline to 1.1% versus 1.0% and the energy utilization rate increased 1.0% against a decline of 4.7%.

The Bank of Japan Governor Haruhiko Kuroda said that monetary easing may be expanded if inflationary pressures are to be lost in his country, while inflation is still underpinned by strong conditions in the labor market, adding that there is no need to change the Central Bank's target. Of Japanese inflation at 2 percent, explaining that investment fund purchases are not to stabilize the financial markets.

Japan's central bank governor Kuroda also noted that exports are somewhat weak due to the slowdown in global economic growth, noting that capital spending is very strong and that he expects his country's economy to continue to grow moderately. He said earlier this week that Japan's economy slowed slightly during Recently, wage growth has been somewhat frustrating.

Kuroda said at the time that labor productivity in Japan registered faster growth than other developed countries, which weighed heavily on the performance of inflationary pressures. He pointed out that there is a rise in prices in the labor sector, which is labor intensive, amid speculation that the next step will reduce interest rates. The Japanese central bank has time to make a decision, adding that the yen is stable between 110 and 120 per US dollar and that the current levels are satisfactory.

In another context, the Japanese Economy Minister Motegi said on Monday during a press conference in Washington with US Trade Representative Robert Laitzer that the trade between his country and the United States "frank and good exchange," in response to US President Trump said recently that he changed Satisfied with Japan's trade surplus with his country of $ 69 billion and that he wanted a two-way deal to deal with it.

The comments were made by Japanese Economy Minister Motige after the launch of trade talks between Japan and the United States, which will continue until next Thursday, following the adoption of the United States under the administration of US President Trump commercial protectionism and the work of many countries to enter into trade negotiations with the Department Trump to avoid the outbreak of trade war.

On the other hand, investors are waiting for the US economy to read the trade balance, which may reflect a widening deficit to $ 53.5 billion versus $ 51.1 billion in January, before we see the final reading of the wholesale stocks index which may show Growth slowed to 0.4% from 1.2% in the February preliminary reading and the previous reading for January.

The Federal Open Market Committee (FOMC) and Federal Reserve Bank of England Chairman James Pollard on economics and monetary policy at the Hyman Minsky Conference, hosted by Cool College in New York, before we see the publication of the Beige Book report, FOMC Meeting.

Technical analysis:

The USDJPY pair tested a fresh 112.14 level and rebounded from there. The bearish trend remains valid and likely over the intraday basis, supported by the negative cross that Stochastic is currently introducing, awaiting 111.25 and then 110.86.

We note that a breach of 112.14 will stop the suggested negative scenario and push the price to gain fresh gains of 113.10 in the near term.

The trading range for today is among the key support at 111.10 and resistance at 112.60.

The general trend for today is bearish.

Gold futures fluctuated in a tight range slipping towards the Asian session to see their sixth session rebound since March 27, keeping the USD index down for the seventh session in 12 sessions from its highest since the 8th of the same month according to the relationship The world's largest consumer of metals and on the brink of economic developments and data expected by the US economy, the largest economy in the world.

At 03:55 GMT Gold futures for June delivery fell 0.06% to currently trading at $ 1,278.70 an ounce, showing stability near the lowest in three months compared to the opening at $ 1,279.50 per ounce, while the decline of the dollar index 0.10% to 96.96, resuming its bounce from the upside for more than a month compared to the opening at 97.07.

We followed the National Bureau of Statistics (NBS) survey for China on the seasonally adjusted GDP for the first quarter of this year, which showed a slowdown in growth to 1.4% in line with expectations versus 1.5% in the fourth quarter. With little change from the fourth quarter, in contrast to expectations for a slowdown in growth to 6.3%.

We also followed the world's second-largest industrial manufacturing release, which showed an acceleration of growth to 8.5% from 5.3% in February's previous reading, beating expectations for an acceleration of growth to 5.6%. The annual Retail Sales Index Growth accelerated to 8.7% versus 8.2%, beating expectations of 8.3%, in conjunction with a drop in unemployment to 5.2% from 5.3%.

This came hours after the Chinese foreign minister said on Tuesday that the acceleration of government spending will support the performance of the second largest economy in the first quarter of 2019, adding that spending rose 15% in the previous quarter than in the first quarter of 2018, That the Government had begun to issue bonds for its main projects and that that expenditure had strengthened reforms in key areas and improved living standards.

On the other hand, investors are waiting for the US economy to read the trade balance, which may reflect a widening deficit to $ 53.5 billion versus $ 51.1 billion in January, before we see the final reading of the Wholesale Inventories Index, which may show a slowdown Growth to 0.4% compared to 1.2% in the preliminary reading for February and the previous reading for January.

The Federal Open Market Committee (FOMC) and Federal Reserve Bank of England Chairman James Pollard on economics and monetary policy at the Hyman Minsky Conference, hosted by Cool College in New York, before we see the publication of the Beige Book report, FOMC Meeting.

Technical analysis:

Gold is trading around the 1275.30 level, and we note that the price has completed the formation of the three-way triangle pattern which shows its image, which puts the price under additional negative pressure. We expect the pair to push further declines during the coming sessions, noting that the following targets extend to 1253.20 and 1231.13.

Therefore, we will be waiting for further bearishness over intraday and short term basis, noting that a breach of 1282.00 could push the price to achieve some gains and test the 1302.60 areas again before any new attempt to decline.

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

The general trend for today is bearish.

The single currency of the European Union region rose during the Asian session to rebound to a sixth session in its 12th session since March 7 when its lowest since June 26, 2017, was tested against the US dollar on the brink of economic developments and data. On Wednesday by the euro-zone economies and the US economy, the world's largest economy.

At 04:57 GMT, the pair rose 0.20% to 1.1303 compared to the opening at 1.1281, after reaching the highest level at 1.1304, while reaching a low of 1.1279.

Investors are currently looking for eurozone economies as a whole to unveil the seasonally adjusted current account index, which could reflect a contraction of the surplus to € 33.2 billion from € 36.8 billion in January, in conjunction with Italy's third- The region's economies, which could explain the widening surplus to € 2.62 billion from € 0.32 billion in January.

The markets are also looking to reveal inflation data for the Euro-zone economies as a whole with the annual Consumer Price Index (CPI) final reading, which may reflect a 1.4% growth instability, unchanged from February's preliminary reading and 1.5% January, and the core annual reading of the index itself may show a 0.8% growth stability versus 1.0% in January.

This comes in conjunction with the release of trade balance reading for the Euro-Zone economies as a whole, which may indicate a contraction of the surplus to 16.8 billion euros compared to 17.0 billion euros in January. Otherwise, we have followed Tuesday, the President of the European Council Donald Tusk and the President of the Commission European Union President Jean-Claude Juncker expressed his hope that Britain would use its exit date from the EU to the end of October to reach an exit agreement.

On the other hand, investors are waiting for the US economy to read the trade balance, which may reflect a widening deficit to $ 53.5 billion versus $ 51.1 billion in January, before we see the final reading of the Wholesale Inventories Index, which may show a slowdown Growth to 0.4% compared to 1.2% in the preliminary reading for February and the previous reading for January.

The Federal Open Market Committee (FOMC) and Federal Reserve Bank of England Chairman James Pollard on economics and monetary policy at the Hyman Minsky Conference, hosted by Cool College in New York, before we see the publication of the Beige Book report, FOMC Meeting.

Technical analysis:

The EURUSD pair has not seen any strong movement in the past sessions to continue moving around SMA 50, and as long as the price is stable above 1.1235 and 1.1180, the upside scenario will remain intact for the next period, At 1.1350 and extending to 1.1443.

The trading range for today is expected among the 1.1220 support and 1.1400 resistance.

The expected general trend for today: temporarily bullish.