Oil Inventories, BTC Snag & Some Failed Earnings

The Markets have been very receptive to acting in tandem with market frail sentiment and the various impacts from Earning reports. On Tuesday Snap Inc. and other earnings reports boosted Wall Street and US 30. Today there are 307 companies to release their earnings amid rumors that about 100 companies will have a negative impact on global Stocks.

Global Stocks:

Global stocks were undeceiving ranging. Asian Stocks were up for a 4th day on upbeat earnings reports from the US. However, EU markets Wednesday EU morning was gloomy on a dovish path.

The Earnings report on Monday lifted wall street and gave Asian Stocks a boost which was reflected on EU shares. Furthermore, with Corporate earnings down it is likely to reflect in the EU and perhaps drag onto the US. Amid US readiness to impose another 16 billion taxes on Chinese goods.

  • Germany 30: Had plummeted by 0.09% by 09:54 GMT to range between 12,587.00 – 12,654.14 investors believe the trends could change to bullish in the late afternoon when the US markets hopes.
  • UK100: Was up 0.54% in bullish moods recovering from the brief downturn. Trading between 7,709.00 – 7,761.75.
  • Italy 40: is rising range bound between 21,785.00 – 21,930.00 and up 0.36%
  • France 40: Was trying to stay out of the red zone, yet caught 0.07% trending to the downside from 5,530.02- 5,512.78, corrections are expected later during the day.

Currencies:

  • USD receded from previous gains. Giving way to EUR, JPY, MXN for now.
  • EUR/USD has been trading sideways between 1.1584 – 1.1628 in and out of small gains
  • USD/JPY has been locked to the 111 handle. Today USD dropped a few pips more to trade between 1.1584 – 1.1628 down 0.40%
  • GBP/USD is hit hard with Brexit weighing down 0.25% oscillating 1.2960 -1.2893.

Commodities:

Almost all Commodities have been generally hawkish Wednesday morning.

Gold climbed 0.16% reaching the 1220.20 handle. Silver up by 0.15% Copper is on a sideways trend.

  • Oil prices rallied ahead of today Crude Oil inventories report which is suggested that there would be a likely drop at the drop-off point in Cushing Oklahoma of nearly -3.333million barrels.
  • The draw together with the imposed sanctions on Iran on Tuesday which is constricting the Iranian economy and all who do business with it, gave spport to WTI crude oil rally, only by 0.04% up to trade from 69.05 – 69.36 once again it seems prices are locked down shying away from the $70 bbl psychological mark. Should the Inventories report support market sentiment, standard deviations are expected to be manageable in the ballpark of 5-45 pips give and take. Meaning upside movement is limited with more room for the downtrend.
  • Sudia Arabia after slashing it September prices reports on supply limitations.which could force prices up or down.

Cryptocurrencies;

Cryptocurrencies are down. BTC is down – 8.04% below the 6500 mark with more downside in view. As the US SEC, Security Exchange adjourns decision of Bitcoin ETF. Allowing listings of an Exchanged traded fund backed by the largest digital currency. Could this be the plummet Arthur Hayes of Bitmex caveated upon.?

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US Slaps Iran With Sanctions, Asia Up on Earnings

Tuesday Tango, The Markets are witnessing corrections and change of trends while the China-US trade tariffs morph into the unknown. Meanwhile, US sanction against Iran is going to take effect today despite pleas to US President Trump from allies amid Wall Street gains

Global Stocks:

While Earnings Reports dictate the pace of triumph for Global markets. On Monday Netflix and others Wowed markets with upbeat reports which lift not only the US Shares, however it impacted the Asian and EU stocks in a Bullish way. Today with some 383 entities scheduled to report their Q2 earnings including name such as CEVA Inc.( CEVA), Crocs Inc. (CROX), Bluerock Residential Growth REIT Inc. (BRG), Avis Budget Group Inc.( CAR) and others. Investors are banking on another positive run for Global markets.

The Earnings report on Monday lifted wall street and gave Asian Stocks a boost which was reflected on EU shares.

  • Germany 30: rose 0.70% to range between 12,644.74 – 12,740.12
  • UK100: jumped up 0.47% to trend between 7,678.17 – 7,748.25 with more upside.
  • Italy 40: surged 1.20% ranging from 21,635.00 – 21,845.00
  • France 40: was also up trending 0.52% perhaps up to a 1.00% high oscillating between 5,490.08 – 5,528.21

Currencies:

  • The EUR has been rallying in a confined around the 1.15 handle since Friday. Market participants forecast a climb above 1.1615 and more. EUR/USD was up 0.038% with lows at 1.1551 and highs 1.1608 as the first resistance level.
  • GBP/USD has also been bullish after sliding last week Thursday on BOE’s weak forwarding guidance. GBP/USD rallied 0.10% to 1.2956 with further upside is seen should the Halifax House Price Index beat market expectation. However, with Brexit weighing should the report disappoint the GBP may tumble down. The current expectation is bullish with some knee-jerking moments before down trending slightly.
  • USD/JPY, even though the used lost a bit of traction USD/JPY was locked in a range from 111.00 – 111.42 down 0.10% and bearish.
  • AUD/USD has been Hawkish flying since early Asian Trading hours following the RBA’s decision to keep interest Rates unchanged at 1.50%  the AUD climbed vs the USD 0.49% in a range of 0.7382 – 0.7439

Commodities:

  • Gold surged Tuesday morning trending in a range of 1,215.60 – 1,224.30 should the USD continue to recede XAU/USD could climb above 1,216.21 resistance level if not remains tight between 1,207.41 – 1,216.21
  • WTI Oil price also rose on by 0.54% above the $69 handle ahead of the day’s API American Petroleum Institute Report on weekly stockpiles Crude oil prices are seen oscillating between 68.81 – 83

 Cryptocurrencies:

By Friday the Cryptocurrencies were nose-diving and unable to sustain consistency.

BTC fell below the 7 k handle only to regain some ground. BTC/USD was seen trading from 6,847.0 – 7,150.0

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US Non-Farm Payrolls Grows Dollar or Not?.

The USD remains broadly strong at two-week highs, over its counterparts including the Chinese Yuan. Analysts are under the impression that the US Dollar Index, DXY, which measure the strength of the Dollar vs a basket of other majors is likely to remain hawkish, seen ranging from 95.12 – 95.37 ahead of today’s NFP, Non-Farm Payrolls. Which is expected to come out at 193k should the expectation be met or exceed the USD is bound to surge a bit more. Knee-jerking is highly likely.

Meanwhile, market participants are looking out for another 63 companies set to deliver their earnings report. Kraft Heinz Co,( KHC), Groupon Inc. (GRPN),  are some of the notable firms on the docket today.

Global Stocks:

Global stocks have been mixed plagued by ongoing trade tariff rhetoric. Asian Shares were mostly capped initially weighing on EU shares. However EU shares are expected to recover losses as Financial and Technology heavyweights raise prospects with a slew of upbeat reports likely to come from the UK’s Royal Bank of Scotland,(RBS) and perhaps France’s Credit Agricole,(CAGR). Will US shares are forecasted to rise in tandem with earnings releases.

  • Germany 30: Recovers from losses up 0.50% in a range of 12,562.40 – 12,615.62
  • UK100: jumped up 0.47% to trend between 7,591.75 – 7,617.50
  • Italy 40: which was gravely impacted manages to reverse losses pushing up 0.57% to range, between 21,324.44 – 21,528.94
  • France 40: Rose modestly by 0.32% recouping losses oscillating between 5,459.65 – 5,479.78

Currencies:

  • The EUR/USD is pinned in a downward spiral. As USD gains and further pinned down due to disappointing economic data release on the EU’s Service PMI, and Retail Sales.
  • GBP/USD sold off to the amazement of market participants who though the BOE’s rate hike would encourage a surge in value for the GBP. Mr. Carney’s caveat in the forwarding guidance did not sit well with investors. As he warned of a slower hiking cycle that initially expected linked to the Brexit. GBP/USD, was down 0.10% lingering around 1.3005 handles, range bound between 1.2976 – 1.3028.
  • USD/JPY, on the other hand, was bullish yet upside movement seems capped around the 112 handle. Support and resistance levels for the day are noted to be in the ballpark of 111.61 – 111.83. Standard deviations will be anywhere from 10-50pips.
  • AUD/USD among the odd gainers was the AUD, which rallied on the back of upbeat MoM and QoQ Retail Sales.

 Commodities:

  • Oil Prices have been jittery lately slapped by the ongoing trade tiffs, in the latest row China has suspended imports of US WTI oil. In early EU trading hours, Oil was in a bearish state, after climbing late Thursday. Although reports claim the levels at one of the main inventories hub had receded to 4-year lows the overall inventories in the US had risen by nearly 1.5 million barrels. Perhaps one of the reasons which the Saudi’s choose to cut prices on its Arab light oil to secure more buyers. WTI Crude Oil prices are expected to correct ahead of the USD NFP and later the Baker Hughes Rig Count. WTI was seen oscillating in and out of gains between 68.53 – 69.19.
  • Gold has not been able to attain any significant uptrends as the USD Shines.

Gold spot was down 0.36 % range bound between (1,212.50 – 1,218.50). While XAU/USD remains volatile with tepid gains and losses. Ranging from 1,204.66 – 1,210.49.

Cryptocurrencies:

Following up from yesterday’s post. The Crypto arena is contraction phase. As investors take profits. And look to riskier assets like the USD to capitalize.

BTC lost more ground down -2.77& trending from 7,282.1 – 7,605.0. It seems Bitcoin was unable to hold on to the 7500k handle. Crypto enthusiasts are ready for another downtrend before any significant surges. If Bitmex’ CEO Arthur Hayes’s reflection a few months ago. That Bitcoin could go to the 5k mark before hitting a 50k height is something traders could ponder on.

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The 4 Must Have CFD & FX Educational Pillars

It is often said the lack of acquiring the basic education before and during your trading expedition, could be costly and time-consuming than, doing so. Thus Xtrade endeavors to facilitate all members with all the vices needed to thrive and succeed.

Acquiring of information or data alone may not be of much assistance, as knowing something, is not the same as doing it. It is recommended to practice to become perfect. One of the benefits of the Demo/Practice Account. The learning curve which some try to avoid usually becomes their greatest impediment. Most people will not go from point A-B without a plan or know how’s. Below is a quick summation for consideration specific to the patron platform, when trading or investing in CFD’s or FX.

The 4 quintessential stepping stones to obtain success, may be summed up as follows:

  • Knowledge of Fundamental indicators
  • Knowledge of Technical Indicators
  • Knowledge of Strategies
  • Knowledge of Money Management/Risk Management.

The trick is, learning how to apply them in tandem. As Complying Registered and Regulated Broker, Xtrade brings you all the tools and know how’s at a mouse click saving the trader time and money.

Fundamental Indicators: are usually derived from Market News and Economic events. On the Platform there is access to News Feed from Reuters, Summations on the days’ outlook via Xtrade’s blog, Daily Financial News Reports via our YouTube channel in several languages to keep traders abreast. Our Tools section also provides an Economic calendar so that traders are aware of market moving events at all times.

Technical Indicators: are acquired from the Charts and Graphs. Xtrade has you covered with our AutoChartist providing you with possible Resistance and Support levels in all the major traded assets FX, CFD Commodities, Stocks, and shares. On the Xtrade.com web-trader platform, which is accessible from almost any device, PC, Smart-Phone or Tablet, you do not have to go through the hassle of downloading software’s like MT4 and be confined to one location. Underneath any asset, you choose there is an interactive live chart, complete with themes, Tools and other Technical indicators.

Strategies:  This comprises of the application of all acquired skills to navigate trades in a manageable manner to obtain a positive ROI. Once familiar with the various Indicators, and techniques, best practices, time frames, and a workable personalized plan that suits the individual’s pace Trading becomes less stressful and highly targeted towards goals.  Xtrade’s Academy for example constantly strives to facilitate all the basic materials and tools needed in planning, analyzing, and executing orders at the Traders, own pace and level of understanding. Webinars, 1on1 consultation, eBooks and Video Courses and more.

Money Management system/Risk Management:

Knowing how to manage your funds in any environment is an essential commodity that is often taken for granted. However, the proper money management/risk management will enable any trader to mitigate losses and likely, be able to maintain a consistent ROI. Return on investment.

Remember the formula: (Confidence = Foreknowledge = Forearmed > Success)!

ie. You Get Confident from Prior Knowledge which Arms you with the appropriate know how’s to be more successful!

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BOE Rate Decision, Forward Guidance & Trade Woes

Following the Fed’s Interest Rate decision on Wednesday with a bright forwarding guidance and upbeat ADP, Private sector employment report, which revealed 215k were employed, bolstering the USD to maintain its current bullish stance.

Market participants are attentive to events coming out of the UK as the BOE is likely going to hike interest rates by 25 basis points. However, what is likely to sway investors decision will be the “forwarding guidance” from Govoner Mark Carney. Which could send the British Pound either, up or down due to Brexit woes, should it be put forward as a caveat.

Q2 Earnings are still unabated with about 385 companies reporting today.

Global Stocks:

Stocks worldwide are capricious to the downside. Asian shares fell as the Sino-US trade tariffs ping pong goes into another tense phase. Analysts at Bloomberg report of a loss of nearly $220 billion in equity market value since the Trade tiffs ensued.

European Shares slipped further due to downbeat earning reports from BMW, and Siemens.

  • Germany 30: Fell 1.76% by the time of print 09:48 GMT to 12,510.36 range bound between 12,500.65 – 12,644.85
  • UK100: was down 1.1% jumping in and out of loses from 7,632.43- 7,568.25 itching for a life line up. Although reports from PMI exist that the Uk’s construction sector expanded at a faster rate in 14 months.
  • Italy 40: Plummeted by 1.82% in a tight range between 21,355.00 – 21,660.00.
  • France 40: Lost 0.74% trending down from 5,483.74-5,445.91.

Earnings from the Technology sectors kept the NASDAQ afloat. Not so for the S&P500 which seems to be plagued by underperforming earnings reports from a throng of companies. The Trade spats between the US& China also restrains advancement in Global markets.

Currencies:

  • GBP/USD has been in a bearish mood since Wednesday. On counts that 90- 91% of market participants have already acquired the GBP. Thus as the USD gained GBP sold off slightly ahead of today’s UK MPC, Monetary Policy Committee’s Decision on its interest rate. The Expectation is for a knee-jerk reaction a few moments prior and post, the announcement, at the time of print GBP/USD was 0.30% down between 1.3068 – 1.3144.
  • USD/JPY although the USD gained some ground against a basket of other majors the Safe-Heaven Yen was resilient and bullish vs. USD which was down 0.26% oscillating between 111.40 – 112.15.
  • EUR/ USD was in a dismal state the day upbeat PPI reports were unable to persuade investors to go long on the EUR.

 Commodities:

Oil price rose in early Asian trading hours. The temporal surge came as investors discovered that despite a build of nearly 3 million barrels in Crude Oil inventories as per the EIA, there was a significant drop in Gasoline inventories. Which means surplus oil could be used for Gasoline production. WTI Crude Oil price could not hold on to gains enough long as US Congress challenges OPEC’s authority and investors decipher the effects of the build up. WTI was found 0.89% down lingering between 66.92 – 68.14. while the DXY climbed 0.28% trending from 94.61 – 95.00.

The Gold spot is also on the rocks falling some 0.28% oscillating between 1,223.40 – 1,228.90 again due to the USD’s Strength and investors having a risk on appetite.  It is interesting to note that, the XAU/USD on the other has been consistently bullish ranging between1,215.24 – 1,221.15, however, may soon turn to the downside.

 Cryptocurrencies:

With no major and positive news, from the cryptocurrency front, most tokens are in a dovish state BTC/USD is struggling to hold on to gains up 0.07% at 7,578.3 although, down from today’s highs of 7,713.0.

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“Trumpnomics” Hits Market Psyche Amid Earnings & Oil Reports

The Market was slightly spooked by US President Trump, who and promised to slap tariffs on all goods out of China. Amid a very busy economic calendar day with 319 companies set to report on their Q2 earnings including companies like BlackRock Capital Investment Corp, (BKCC), Ferrari NV (RACE) and Tesla, Inc. (TSLA) to name a few.

The next bout of Tariffs may be enacted today. The initial 10% tariffs on $200 billion worth of goods from China. may increase to 25%. Mr. Trump threatens, sending shockwaves to the Asian Market which has already been hit by downbeat Caixin Manufacturing PMI.

The crippling effects were felt moment later in the EU market.

Global Stocks:

Global Stocks were mixed although China assures its citizens and the world to try and work out the challenges to the economy ensued by the US tariffs, constricting progress in the world’s second-largest economy.

Apple Inc. (APPL)’s Earnings reports were positive, elevating US shares, which supported the Asian Shares and uplifted EU in earlier this morning, only to have hopes dashed by the Trade War fears most of the Asian shares are expected to close low.

Germany 30: is down 0.71% in a range from 12,703.93 – 12,835.24

UK100: shed 1.16% trading from 7,752.07 -7,635.00.

Italy 40: also lot previous gains down 0.95% from 22,205.00 -21,965.00 at the time of print 12:00 GMT.

France 40: joined the losing streak a bit later down 0.04% 5,499.83 – 5,531.58

Market participants are counting on upbeat Q2 Earnings from the Financial and investment sector to uplift the sagging mood perhaps Tesla reports may bring hope to the US markets to spill onto Asia and EU.

Currencies:

  • Ahead of today’s U.S. ISM Manufacturing Purchasing Managers Index (PMI), U.S. Interest Rate Decision, which is likely going to be left unchanged at 2.00% the USD jumped up. The DXY, Dollar index was up a tad by 0.01% at 94.51.
  • USD/JPY was up 0.12% at 112.04 trading between 111.70 – 112.15
  • EUR/USD, GBP/USD, AUD/USD were all bearish as the USD rose. However, the current selloff may pave way for the GBP to climb in expectation of a possible rate hike by the BOE although 90% of the market has priced in for a rate hike Inflation and GDP reports could weigh.

Commodities:

It has been a bloodbath for the commodities with almost all metals down.

Gold was 0.44% down ranging from 1,223.70 – 1,223.70.

WTI Oil had been on a bearish path since Tuesday, ahead of today’s Crude oil inventories Oil prices a set to sink further from 68.52 down support level may be in around 67.38 or steeper depending on the weekly oil reports.

Cryptocurrencies:

The Cryptocurrencies arena has been constructing since the beginning of the week BTC/USD plummeted 1.80% below the 8k handle to range 7,469.5 – 7,830.0  and struggling to hold on to the 7500 support level.

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