Analytic reviews

The US dollar rose during the Asian session to see its rebound to its third session since January 16 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 developments and economic data expected on Monday by the US economy The world's largest economy.

At 0550 GMT, the USDJPY rose 0.21% to 109.73 from the opening levels of 109.50 after hitting the highest level since January 25 at 109.79, while the lowest level during the session At 109.43.

We followed the Japanese economy to reveal the annual reading of the monetary base index by the Bank of Japan, which showed a slowdown in growth to 4.7% compared to 4.8% in December, exceeding expectations that slowed growth to 4.6% The Bank of Japan has been using this indicator as its main operational target for the monetary base scheme since April 2013.

On the other hand, investors are currently looking for the US economy to reveal the factory demand index, which may show a rise of 0.3% compared to a decline of 2.1% in October, and this comes hours after the data showed the labor market last month, which showed high unemployment for the month The second consecutive month to 4.0% compared to the previous forecast for December at 3.9%.

In the same context, the average hourly earnings reading showed a slowdown in growth to 0.1% from 0.4% in December, worse than expectations of 0.3%, while the Nonfarm Employment Change Index showed that job creation accelerated to 304K Adding an added 222,000 jobs in December, beyond expectations for 165,000 jobs.

Federal Reserve monetary policy makers kept the federal funds rate at 2.25% to 2.50% at the Federal Open Market Committee meeting held on 29-30 of last month as they continued to cut back on bond purchases by $ 50 billion a month. Federal Reserve Governor Jerome Powell said at the time that the committee would be patient about raising interest rates.

Technical Analysis

The USD / JPY pair has traded positively in recent sessions to breach the 109.16 level and is stabilizing above it, resuming the bullish correction scenario again, targeting 110.24 as a next stop.

Therefore, the bullish trend will be likely in the coming sessions unless the level of 109.16 is broken and stability below it, noting that the breach of the target level will extend the upside wave to 111.56.

The trading range for today is expected among the support at 109.00 and the resistance at 110.24

Support and resistance:

Support: 109.24-108.51

Resistance: 109.90-110.67

The general trend for today is bullish

Sberbank continues its bullish trend for five weeks. Where the price in the jump to resistance 217.78 at the end of last week

The moving averages support price action as the moving average 7 moves steadily below the price and provides stability and stability for the continuation of the bullish movement,

SMA 20 and SMA 50 in the ideal order for the upside movement

(7-20-50)

Stochastic moves in the saturation zone and leaving the region will lose the positive momentum of the rise and therefore we can see some correction of the movement.

Expected movement between support 211.05 and resistance 224.58

The general trend of the movement: upward

Amazon.com posted a profit of $ 3 billion, or $ 6.04 per share, in the last three months of 2018, beating analyst expectations of $ 5.65 per share.

Reflecting a strong holiday season, Amazon unveiled revenues of $ 72.4 billion - the company's highest quarterly earnings - beating analysts' forecasts at $ 71.88 billion.

Despite these strong results, analysts expect e-commerce sales to slow in the first quarter of this year.

The company achieved strong sales from e-commerce, but sales in physical stores fell 3 percent in the fourth quarter of 2018, recording $ 4.4 billion from $ 4.52 billion in the third quarter.

Amazon ranks first as the largest listed US company by market value, surpassing technology companies such as Microsoft, Google, and Apple.

Technical Analysis

Amazon is re-rising for a third session after the decline in the last three sessions as the stock approached the 1591.00 support level and rebounded.

The SMA 50 is support for the price at the mentioned level.

The moving averages 7-20 support the price to the upside as these averages move parallelly below the price and form positive pressure to push it higher

The Stochastic is providing positive information, giving a bullish cross signal and heading towards the overbought area

All these data make us likely to continue the bullish path and test the resistance levels to come.

The expected movement between support is 1.591.40 and resistance 1838.00

Support and resistance:

Support: 1591.40-1481.85

Resistance: 1783.40-1838.00

The general direction of the movement: upward

The Australian dollar fell during the Asian session to see its rebound for the second session of its highest since December 5, while still the second consecutive weekly gain after the gains last month against the US dollar, following developments and economic data that followed the Australian economy and The economic outlook for the US economy is expected to rise on Friday.

At 02:36 GMT, the AUDUSD dropped 0.38% to 0.7245, compared to the opening levels of 0.7273, after reaching a low of 0.7239, while the highest at 0.7278.

On the Australian economy, we saw the reading of the producer price index, which is a preliminary index of inflationary pressures, which showed a slowdown in growth to 0.5% versus 0.8% in the third quarter, worse than expectations of 0.6%. Compared to 2.1% in the previous quarter's previous reading. Investors are now waiting for the CPI to be released last month.

On the other hand, markets are looking for the US economy to reveal labor market data for the last month which could reflect the stability of unemployment rates at 3.9% for the second month in a row after rising in December for the first time in four months from its lowest in nearly five decades , Amid expectations that the reading of average hourly earnings would slow growth to 0.3% from 0.4% in December.

The markets are also looking at the Non-Farm Payrolls, which may reflect a slower pace of job creation to 165,000 jobs versus 312,000 jobs added in December, before we see the final reading of the PMI by Market on the US last month, which may reflect the stability of the widening at a value of 54.9 versus 53.8 in December.

And the index of the Industrial Supply Institute index, which may show the stability of the widening at 54.1, unchanged from December, while the reading of the same indicator, measured in prices may narrow the breadth to 54.4 compared to 54.9, in conjunction with the final reading of the index Wholesale stocks, which may reflect slower growth to 0.5% versus 0.8% in November.

In addition to a reading of the Construction Spending Index, which could rise 0.2% from 0.1% in November and the final reading of the University of Michigan Consumer Confidence Index, which may reflect a widening to 90.8 from January's reading, January at 90.7 versus 98.3 in December, as well as consumer expectations of inflationary pressures for a year and five years.

This came hours after the FOMC meeting on 29-30 January ended last Wednesday, during which the Committee kept interest rates on federal funds at between 2.25% and 2.50% as it proceeded to reduce bond repurchases By $ 50 billion a month, before Federal Reserve Governor Jerome Powell said the Fed would be patient about raising interest rates.

Technical Analysis

The AUDUSD is retesting the 0.7235 level and maintaining its stability so far, in conjunction with stochastic reaching oversold areas, awaiting a bounce back to resume the expected bullish intraday direction targeting 0.7335 as a next stop.

SMA 50 supports the expected rally, which requires stability to remain above 0.7235.

The trading range for today is expected among the support at 0.7200 and the resistance at 0.7335

The general trend for today is bullish

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session as it rebounded to its second-highest session since January 11, while still on its second straight weekly gain after last month's third monthly gain Respectively, against the US dollar on the eve of developments and economic data expected Friday by the economies of the eurozone and the US economy, the largest economy in the world.

At 5:15 am GMT, the EURUSD dropped 0.06% to 1.1441, compared to the opening at 1.1448 after the pair hit a session low of 1.1438 and a high of 1.1450.

Investors are currently waiting for the Spanish economy, the region's fourth-largest economy, to release the Manufacturing PMI, which may reflect a contraction of 50.5 versus 51.1 last December, ahead of the same indicator for Italy, the third-largest economy in the region. The contraction widened to 49.0 versus 49.2 in December.

Before we see the final reading of the Industrial PMI for both France and Germany, which may reflect stability at 51.2 in France versus 49.7 in December and a contraction of 49.9 in Germany versus 51.5 in December. And the final reading of the euro-zone index as a whole may show stability at 50.5 versus 51.4 in December.

Leading to an annual CPI reading for the economies of the region as a whole, which may reflect a slowdown in growth to 1.4% from 1.6% in December, while the core annual reading of the index itself may show 1.0% growth stability. Donald Tusk said yesterday that European Commission President Jean-Claude Juncker said negotiations would not be opened on Britain's exit from the European Union.

On the other hand, markets are looking for the US economy to reveal labor market data for the month of December, which could reflect the stability of unemployment rates at 3.9% for the second month in a row after rising in December for the first time in four months from the lowest in nearly five decades of With average earnings per hour reflecting a slowdown in growth to 0.3% versus 0.4% in December.

The markets are also looking at the Non-Farm Payrolls, which may reflect a slower pace of job creation to 165,000 jobs versus 312,000 jobs added in December, before we see the final reading of the PMI by Market on the US last month, which may reflect the stability of the widening at a value of 54.9 versus 53.8 in December.

And the index of the Industrial Supply Institute index, which may show the stability of the widening at 54.1, unchanged from December, while the reading of the same indicator, measured in prices may narrow the breadth to 54.4 compared to 54.9, in conjunction with the final reading of the index Wholesale stocks that may reflect slower growth to 0.5% vs. 0.8% last November,

In addition to a reading of the Construction Spending Index, which could rise 0.2% from 0.1% in November and the final reading of the University of Michigan Consumer Confidence Index, which may reflect a widening to 90.8 from January's reading, January at 90.7 versus 98.3 in December, as well as consumer expectations of inflationary pressures for a year and five years.

This comes just hours after the FOMC meeting on 29-30 January, which left the committee on federal funds rates at between 2.25% and 2.50% with a further reduction in bond buybacks of $ 50 Billion dollars a month before Federal Reserve Governor Jerome Powell said the Fed would be patient about raising interest rates in the coming period.

Technical Analysis

The EURUSD ended yesterday's trading above 1.1443, with opportunities to resume the expected bullish trend for the coming period, targeting 1.1550 and 1.1705 as the next major stops.

SMA 50 continues to support the suggested bullish wave, noting that a break of 1.1443 and stability below it will return the price to the downside which has its next targets at 1.1300 and 1.1181.

The trading range for today is among the key support at 1.1370 and resistance at 1.1550

Support and resistance:

Support: 1.1443-1.1386-1.1341

Resistance: 1.1512-1.1583-1.1684

The general trend for today is bullish

The British Pound (GBP) held steady against the Dollar today as speculation mounted that the British government could delay the exit from the European Union (BRIC).

This comes as the deadline for the transition period and the negotiations between London and Brussels to get out of the common bloc approaches on March 29.

Following the British parliament's refusal to amend the EU's non-EU agreement, there was uncertainty about the fate of a deal that would ensure the UK remained within the bloc's customs union.

British Foreign Secretary Jeremy Hunt said it was likely that the BRIXEST would be delayed in the absence of preparations for Prime Minister Theresa May's government.

Investors are currently waiting for the British economy to release the Industrial PMI reading, which may reflect the contraction of the widening to 53.5 vs. 54.2 last December

On the other hand, markets are looking for the US economy to reveal labor market data for the month of December, which could reflect the stability of unemployment rates at 3.9% for the second month in a row after rising in December for the first time in four months from the lowest in nearly five decades of With average earnings per hour reflecting a slowdown in growth to 0.3% versus 0.4% in December.

The markets are also looking at the Non-Farm Payrolls, which may reflect a slower pace of job creation to 165,000 jobs versus 312,000 jobs added in December, before we see the final reading of the PMI by Market on the US last month, which may reflect the stability of the widening at a value of 54.9 versus 53.8 in December.

And the index of the Industrial Supply Institute index, which may show the stability of the widening at 54.1, unchanged from December, while the reading of the same indicator, measured in prices may narrow the breadth to 54.4 compared to 54.9, in conjunction with the final reading of the index Wholesale stocks that may reflect slower growth to 0.5% vs. 0.8% last November,

In addition to a reading of the Construction Spending Index, which could rise 0.2% from 0.1% in November and the final reading of the University of Michigan Consumer Confidence Index, which may reflect a widening to 90.8 from January's reading, January at 90.7 versus 98.3 in December, as well as consumer expectations of inflationary pressures for a year and five years.

Technical Analysis

GBPUSD found it difficult to confirm stability above 1.3125, to fall again and move towards the 1.3000 and then 1.2962 areas in the coming period, as the bearishness is likely for today.

Stochastic is attempting to gain a positive momentum gradually, awaiting the resumption of the bullish trend after the expected temporary decline for the coming period, noting that a breach of 1.3125 will stimulate the price to rally towards 1.3226 initially.

The trading range for today is expected among the support at 1.3000 and the resistance at 1.3190

Support and resistance:

Support: 1.1310-1.2969-1.2876

Resistance: 1.3125- 1.3192-1.3250

The general trend for today is bearish

Gold futures traded in a tight range slipping into the Asian session to see their rebound for the second high session since April 26 as the US dollar index rose for the second consecutive session from its lowest level since January 10 according to the relationship On the eve of developments and economic data expected Friday by the US economy, the largest economy in the world and after the end of the second round of trade talks between the United States and China in Washington.

Gold futures for April delivery fell 0.27% to currently trade at $ 1,323.30 per ounce, reversing their 10-month high against the opening at $ 1,326.00 per ounce, amid a rise in the US dollar index of 0.06. % To 95.61, showing a three-week retracement of its decline from the opening at 95.55.

The markets are currently looking for the US economy to reveal labor market data for the month of December, which may reflect the stability of unemployment rates at 3.9% for the second month in a row after the rise in December for the first time in four months from its lowest in nearly five decades, Amid expectations that the average hourly earnings reading would slow growth to 0.3% from 0.4% in December.

The markets are also looking at the Non-Farm Payrolls, which may reflect a slower pace of job creation to 165,000 jobs versus 312,000 jobs added in December, before we see the final reading of the PMI by Market on the US last month, which may reflect the stability of the widening at a value of 54.9 versus 53.8 in December.

And the index of the Industrial Supply Institute index, which may show the stability of the widening at 54.1, unchanged from December, while the reading of the same indicator, measured in prices may narrow the breadth to 54.4 compared to 54.9, in conjunction with the final reading of the index Wholesale stocks that may reflect slower growth to 0.5% vs. 0.8% last November,

In addition to a reading of the Construction Spending Index, which could rise 0.2% from 0.1% in November and the final reading of the University of Michigan Consumer Confidence Index, which may reflect a widening to 90.8 from January's reading, January at 90.7 versus 98.3 in December, as well as consumer expectations of inflationary pressures for a year and five years.

On the other hand, the second round of US-China trade negotiations, held in Washington, ended yesterday as "crucial" with the parties agreeing to continue the dialogue before the end of the truce between the two parties in March and their expansion in tariffs if they do not reach For an agreement or extension of the truce, which aims to avoid a global trade war between the world's biggest economists.

US President Trump noted that nothing final would be agreed between his country and China before meeting with his Chinese counterpart, Xi Jinping, and that until then meetings would be held between the trade representatives of both countries to agree on key points, With his Chinese counterpart to discuss the shape of future relations and agree on some fine points to conclude a comprehensive final trade agreement for everything.

On the other hand, the World Gold Council's statistics yesterday pointed to the global purchases of gold by the central banks last year 2018 to their highest level since 1967. Purchases rose to 651.5 mt, up 74% from 2017, Of countries to buy the yellow metal topped by China, the world's largest consumer of metals, then Poland and Russia in addition to Kazakhstan.

The global gold consumption ratio rose to 4,345.1 tons last year from 4,159.9 tons in 2017. Retail investment in bullion and gold coins rose 4% to 1,090.2 tons, supported by an increase in Iranian demand by 222% to 62 tons. Demand for jewelry Approximately 2,200 tons with offset increased consumption in both China, the United States and Russia demand drop from the Middle East and India.

In contrast, demand for financial institutions fell by 67% from the year 2017, when the global supply of gold rose 1% to 4,490.2 in 2018. Gold futures last month made their fourth consecutive monthly gain, showing the longest run Has seen monthly gains since late 2010, after ending its longest monthly loss march since October 1996.

Technical Analysis

Gold is testing the support floor above 1316.65 after it has been breached in advance, accompanied by Stochastic reaching oversold levels, while SMA 50 continues to support the price from below.

Therefore, these factors encourage us to continue the bullish trend for the coming period, which targets 1335.00 as a next stop, while stability is required above 1316.65.

The trading range for today is among the key support at 1310.00 and resistance at 1335.00

Support and resistance:

Support: 1316.65-1310.17-1302.51

Resistance: 1321.65-1333.78-1349.12

The general trend for today is bullish

AUDUSD

The pair is trading above 0.7235. It’s under pressure due to slower growth of China’s production activities, which is clear from Friday’s PMI that sank below 50 points.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI has stopped falling. Stoch are entering the oversold territory.

Trading recommendations:

If the US employment data is favorable, the price will drop to 0.7150.

The US dollar fell during the Asian session to see its rebound for the fourth session in seven sessions of its highest since the end of December last against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of developments and economic data expected Thursday by the US economy, the world.

At 06:03 GMT, the dollar dropped 0.28% to 108.74 from the opening level at 109.04 after the pair hit its lowest level since January 17 at 108.70

We also followed the Japanese economy's release of the Bank of Japan's summary report in conjunction with the preliminary reading of industrial production, which showed a contraction of 0.1% to 1.0% in November, beating expectations of a contraction of 0.5% While the annual reading of the same index showed a decline of 1.9% against the rise of 1.5%, also surpassing the expectations that indicated a decline of 2.3%.

This came before we saw the release of housing market data with the annual reading of homes starting construction, which showed a rise of 2.1% to 961 thousand homes compared to a decline of 0.6% at 957 thousand homes in the previous annual reading for the month of November, Japanese Prime Minister Shinzo Abe said his government and the Bank of Japan will work together to overcome the downturn by adopting all available tools.

Japanese Prime Minister Shinzo Abe said earlier this month that the Japanese government is currently working on a plan to overcome the economic downturn that hit his country in the third quarter within three years, saying that the determination of monetary policy appropriate to the third largest economy In the world is left to the Bank of Japan on the matter.

Bank of Japan Governor Kuroda Haruhiko Kuroda said at the end of last week that the Japanese central bank's neutral interest rates could fall as long-term growth prospects fell in the shadow of demographic changes and that lower expectations could push central banks to cut interest rates. Lead to lower demand for credit and that this could make the financial system less stable.

On the other hand, the markets are currently looking to the US economy for a reading of the Labor Cost Index for the fourth quarter, which may reflect the stability of growth to 0.8%, unchanged from the third quarter, in conjunction with the publication of the index of requests for aid for the week of 26 January, Which may reflect a rise of 16 thousand applications to 215 thousand requests in the previous weekly reading,

Ahead of the Chicago PMI reading, which could reflect a contraction of 61.5 vs. 65.4 last December, to reveal housing market data with a new home sales reading that could reflect a rise to around 569,000 homes Compared with 544,000 in November.

This comes just hours after the FOMC meeting on 29-30 January, which left the committee on federal funds rates at between 2.25% and 2.50% with a further reduction in bond repurchase by $ 50 Billion dollars a month before Federal Reserve Governor Jerome Powell said the panel would be patient about raising interest rates in the coming period.

Technical Analysis

The USD / JPY pair traded with remarkable negativity yesterday to break the 109.16 level and settle below it, which stops the positive scenario suggested in our recent reports and puts the price under negative pressure expected during the coming sessions. The pair completed the formation of a double top pattern with its main target at 108.09.

From here, we expect a continuation of the bearish trend during the coming sessions, noting that the breach of 109.16 and stability above it will reactivate the scenario of the corrective move upward again.

The trading range for today is expected among the support at 108.00 and the resistance at 109.40

The general trend for today is bearish

Gold futures fluctuated in a narrowly bearish range during the Asian session to see their rebound to its second-highest session since May 14, shedding the US dollar's lowest since January 11 according to their inverse relationship following developments and data. On Thursday as China's largest consumer of metals and on the eve of economic developments and economic data expected Thursday by the US economy in conjunction with the trade talks between Washington and Beijing.

At 03:55 am GMT, gold futures for April delivery fell 0.08% to currently trade at $ 1,323.90 per ounce from the opening at $ 1,325.40 per ounce, while the US dollar index fell 0.15% to 95.26, Three weeks compared to the opening at 95.35.

We have followed the Chinese economy, the world's second largest industrial nation, by reading the Industrial and Service Purchasing Managers Index by the China Logistics and Purchasing Federation (CFLP), which reported contraction of the industrial sector to 49.5 versus 49.4 in the previous reading for December, At 49.3, and the service sector expanded to 54.7 versus 53.8, beating expectations of 53.9.

On the other hand, the markets are currently looking to the US economy for a reading of the Labor Cost Index for the fourth quarter, which may reflect the stability of growth to 0.8%, unchanged from the third quarter, in conjunction with the publication of the index of requests for aid for the week of 26 January, Which may reflect a rise of 16 thousand applications to 215 thousand requests in the previous weekly reading,

Ahead of the Chicago PMI reading, which could reflect a contraction of 61.5 vs. 65.4 last December, to reveal housing market data with a new home sales reading that could reflect a rise to around 569,000 homes Compared with 544,000 in November.

This comes just hours after the FOMC meeting on 29-30 January, which left the committee on federal funds rates at between 2.25% and 2.50% with a further reduction in bond repurchase by $ 50 Billion dollars a month before Federal Reserve Governor Jerome Powell said the panel would be patient about raising interest rates in the coming period.

Otherwise, the financial markets are now looking closely at the outcome of the trade talks between the world's top economists after Chinese Vice Premier Liu Hu arrived in the United States yesterday for a two-day visit and meeting with US Trade Representative Leftizer and Treasury Secretary Stephen Menuchin to discuss trade disputes Between the two countries, and is expected to meet later today with US President Donald Trump.

Technical Analysis

Gold managed to reach 1321.65, consolidating expectations of a continuation of the ascending trend within the ascending channel shown on the chart above and the way ahead towards our next target at 1333.78.

SMA 50 continues to support the pair from the bottom, waiting for further bullishness during the coming sessions, noting that a break of 1316.65 would put the price under immediate negative pressure that might target the 1286.70 zones before any new attempt to rise.

The trading range for today is among the key support at 1310.00 and resistance at 1335.00

Support and resistance:

Support: 1310.17-1302.51-1293.60

Resistance: 1321.65-1333.78-1345.00

The general trend for today is bullish