今後の市場

Pacific Unionの今後の市場における重要なマーケット情報を最新の状態に保つようにしてください。当社の今後の市場は、次の取引日のための準備をするのに素晴らしい方法です。

Investors continue to wait on inflation-adjusted interest rates that support gold price…

Investors continue to wait on inflation-adjusted interest rates that support gold price against worries that the Fed might start tapering bond-buying programs

20210804
Share

Market Focus

US market edged higher on Tuesday as the market strength outweighed the concern of the new variant delta Covid. The Dow Jones Industrial Average surged 278.24 points. The Nasdaq 100 climbed 0.6%, led by the recovery from Chinese stocks while the S&P 500 notched all-time high at 4423.15 after Under Armour Inc. and Ralph Lauren Corp. reported gains. Moreover, the 10- year US Treasury yield stabilized on Tuesday.

Wheat price kicked off with 11- week highs as supplies angst. The dry and hot weather across major producers, including Canada, Russia, and the US, is limiting the production prospects for spring wheat. As a result, price increases amid the rising concerns of tightening global supplies.

The UK inflation was up 0.5% month-to-month in June, giving the Bank of England pressure on its patience to manage inflation. The BOE has projected that inflation will peak above 3% by the end of 2021. Investor’s eyes on the BOE’s key meeting.

Main Pairs Movement

Gold traded in a tight range, closing at $1810.22 as investors continue to wait on inflation-adjusted interest rates that support gold price against worries that the Fed might start tapering bond-buying programs. Investor eyes on Friday’s US payrolls report.

Kiwi rose 0.66% to four-week highs the unemployment rate declined more than the expectation. The rate dropped to 4% in Q2, pushing the kiwi upside.

AUDUSD advanced 0.49% on Tuesday as RBA kept rates at record low despite the economic outlook looks to improve. The RBA held the cash rate at 0.1 percent whilst remaining its bond-buying plan.

Technical Analysis

GBPUSD (4-hour Chart)

Sterling is trading at 1.3910 and 0.2 higher on the day so far, leading above G-10 currencies, supported by the risk-on sentiment that has improved as positive corporate earnings continue to offset worries over China’s pressure on the technology sector. On the other hand, U.K. also has been helped by recent falls in Covid-19 infection figures, optimism around Britain’s lockdown easing, and market anticipation of hawkish signals when BoE meets on Thursday. For technical aspect, RSI indicator corrects it momentum then set 53 figure, suggesting slightly bear movement ahead. For moving average side, 15 long SMA indicator holding a flat side movement and 60 long SMA indicator remaining up way traction.

All in all, sterling seems successfully defend critical support level at 1.3896 around in short term. Therefore, we still deem the 1.3896 to be efficient support at the current stage. On the up way, if the price could go over the last highs spot, it will be heading to over 1.4 level.

Resistance: 1,3985, 1.4

Support: 1.3665, 1.3745, 1.38, 1.3896

EURUSD (4- Hour Chart)

Euro fiber takes both a bullish and bearish prospect from a daily perspective, losses 0.03% in the day to 1.18625 as of writing. A scarce macroeconomic calendar and upcoming US employment-related data maintain speculative interest side-lined. From the technical perspective, the RSI indicator is close to 51 figures as of writing, suggesting slightly bull movement for the short term. For moving average side, 15 long SMA indicator shows flat movement side with lacking momentum and 60 long SMA remaining ascending movement.

For price action, the market seems to find a comfortable support level at 1.1848 and flirting around 1.1848~1.188. At the current stage. If the price could breach 1.188 firmly again, it could head to a higher level. On the downside, we deem the most strong support level will be the 1.1766 level. Moreover, it seems like building a double head price action and neckline will be on 1.1848.

Resistance: 1.188, 1.19

Support: 1.1848, 1.18, 1.1766

USDCHF (4- Hour Chart)

The USDCHF pair closed of negative territory and extend its slideway during the European trading hours on Monday. After touching its lowest level since mid-June at 0.9022, it seems to have gone into a consolidation phase and was last seen losing 0.27% at 0.903. On the other hand, the greenback remains on the back foot and supported the swiss franc to preserve its bearish momentum. The dollar index is currently losing 0.14% on the day at 91.93 as of writing. For the technical side, the RSI indicator rebound from over sought zone to 36 figure, suggesting a bearish movement ahead. From the moving average perspective, both 15 and 60 long SMAs indicators are moving south way.

For price action, the Swiss franc has penetrated the support at 0.9047 as we expect yesterday and stay below the level in the day market. For biding buyers, the most important level will be 0.9047 from our perspective. If not firmly stand above it, it will be churning and choppy between immediately resistance and 0.9 level.

Resistance: 0.9047, 0.9075, 0.9134

Support: 0.9

20210804
Share
Pack Up

A surge in Covid-19 cases across the U.S. brought on by the…

A surge in Covid-19 cases across the U.S. brought on by the fast-spreading delta variant is increasing pressure on U.S. drug regulators to fully approve Pfizer Inc.’s vaccine

20210803
Share

Market Focus

U.S. equities pared back gains on Monday after Treasury yields extended a decline following softer-than-expected U.S. manufacturing growth amid lingering supply constraints. The S&P 500, Dow Jones, and Nasdaq all fell from earlier highs as investors considered the impact of the 10-year Treasury yield hitting as low as 1.15% on Monday, putting concerns about growth on display. At the end of the day, Dow Jones dropped 0.28%, while Nasdaq closed green with a little comeback.

A surge in Covid-19 cases across the U.S. brought on by the fast-spreading delta variant is increasing pressure on U.S. drug regulators to fully approve Pfizer Inc.’s vaccine, the first one to apply for full licensure in the U.S.

Full approval could help the Biden administration ramp back up its immunization drive and reassure vaccine holdouts that the shots are safe. It could also make it easier for more schools and workplaces to put immunization mandates in place.

Meanwhile, breakthrough cases that penetrate the shot’s defenses are being monitored by health officials. While the Pfizer-BioNTech SE mRNA-based vaccine, cleared in the U.S. via an emergency-use authorization late last year, remains highly effective at preventing severe disease, the question of whether booster shots will be needed looms as fall approaches.

Main Pairs Movement

Market players were optimistic at the beginning of the day, with the dollar easing against its major rivals. The sentiment turned sour during American trading hours, as the latest official ISM index contracted from 60.6 to 59.5, a sign of slowing economic progress.

The euro pair hovers around 1.1870, while cable stands below 1.3900. The performances of commodity-linked currencies were mixed. The AUD rose, the NZD fell, and the CAD lost demand amid plunging oil prices.

With renewed demand for safety, the US treasury yields plummeted to their 2-week low, and the haven JPY surged against the greenback. Gold jumped to the intraday high amid the dismal market mood but somehow dropped back to familiar levels at the end of the day. Crude oils plunged, with WTI retreated to $71.50 a barrel, and Brent traded at $73.20, 2.60% off than the previous day.

In general, major pairs held within familiar levels as investors await first-tier data scheduled for later in the week. In the US, employment is taking the center stage with the Nonfarm Payroll report.

Technical Analysis

GBPUSD (4-hour Chart)

After reaching a five-week high of 1.398 level last Friday, closing its best week against the weakening greenback since early May, the sterling bears have piled in again as the week gets underway. As of writing, sterling is trading at 1.3885 and down 0.14% in the day market. On the economic side, U.K. Marketing Manufacturing PMI improved to 60.4 in July, following the expectation. For technical aspect, RSI indicator corrects it momentum then set 47 figure, suggesting slightly bear movement ahead. For moving average side, 15 long SMA indicator has turned it slope to south way with sterling slightly moving downward and 60 long SMA indicator remaining up way traction.

All in all, the most possibility for sterling is a south way momentum as short-term SMA and RSI show a bearish suggestion. Moreover, sterling fell below 1.3896 which is a neckline according to price action.

Resistance: 1.3896,1,3985, 1.4

Support: 1.3665, 1.3745, 1.38  

EURUSD (4- Hour Chart)

The pair advanced higher toward 1.19 during the European session but failed to defend the upside momentum. At the end of the day, the pair was virtually unchanged on the day at 1.187. As U.S. ISM Manufacturing PMI came lower than expected in July that reversed risk-positive market circumstance, directly finding buy-in demand for the greenback. From the technical perspective, the RSI indicator closes 55 figures as of writing, suggesting slightly bull movement for the short term. For moving average side, 15 long SMA indicator shows flat movement side and 60 long SMA remaining ascending movement.

For price action, the market seems to find a comfortable support level at 1.1848 and flirting around 1.1848~1.188. At the current stage. If the price could breach 1.188 firmly again, it could be heading to a higher level. On the downside, we deem the most strong support level will be the 1.1766 level. Moreover, it seems like building a double head price action and neckline will be on 1.1848.

Resistance: 1.188, 1.19

Support: 1.1848, 1.18, 1.1766

USDCHF (4- Hour Chart)

The USDCHF pair closed in the negative territory for consecutive 5 straight days and lost more than 100 pips last week. On Monday, the pair stays in a consolidation phase following the data releases from Switzerland. As of writing, pairs were flat in the day market at 0.905. At the same time, U.S. and E.U. share markets were pull back from the daily high spot, fueling momentum for the swiss franc.

For the technical side, the RSI indicator rebound from over sought zone to 36 figure, suggesting a bearish movement ahead. From the moving average perspective, both 15 and 60 long SMAs indicators are moving south way.

For price action, if the price slip under 0.9047, we expect the momentum will lead it to further way on 0.9 level. On the upside, the price seems to build a comfort resistance cluster area at 0.90756, 0.91 followings.

Resistance: 0.9075, 0.9134

Support: 0.9047, 0.9

20210803
Share
Pack Up

US Senate is on the path to negotiate a $550 billion infrastructure…

US Senate is on the path to negotiate a $550 billion infrastructure package, which was included in the previous Joe Biden’s infrastructure plan

20210802
Share

Market Focus

US markets declined at the tail end of a big earning reports week as investors worried about the rapid resurgence of new Covid cases, more than 103,000 cases in a seven-day average, the highest since February. The Dow Jones Industrial Averages dropped 0.42% on Friday. Meanwhile, the tech-heavy Nasdaq 100 plunged 0.71% and the S&P 500 declined 0.54%.

The mega-cap technology company, Amazon. com Inc. plummeted 7.6% in its largest decline since May 2020 after its earnings report missed the expectation, contributing the most declines in the Nasdaq 100 and S&P 500.

After China’s intensified requirements on overseas IPOs, cracking down Chinese stocks more than $1.5 trillion, the SEC said that it will also require additional disclosures from Chinese companies seeking to list on US stock exchanges. The SEC will require Chinese companies to distinguish the shell company from the operating company…etc. The move could potentially intensify the tensions between the US and China.

US Senate is on the path to negotiate a $550 billion infrastructure package, which was included in the previous Joe Biden’s infrastructure plan. The package would provide the biggest infusion of the US Federal spending on infrastructure in decades. It includes $110 billion for roads and bridges, $66 billion for trains, and $73 billion for electric grid upgrades…etc.

Main Pairs Movement

Bitcoin holds above $41,000, the highest since May, after a 10- day bullish move that was the longest in eight years. The upside momentum is driven by the Fed as it begins to consider tapering its $120 billion a month of asset purchases. Investors view bitcoin that can serve as an effective hedging instrument against inflation.

The eurodollar retreated from 1.1908 to 1.1870 against the greenback on Friday. At the same time, the British Pound was down 0.35% against the greenback. After the US Core PCE inflation in June came in at 3.5%, lower than expectations, the greenback gained strength, dragging the EURUSD pair to the downside.

Gold and Copper trimmed weekly gains as the greenback rebounded. Copper future fell nearly 1% on Friday with the concerns over the Covid and China’s regulatory clampdown, pushing the greenback up; gold was down as well, slipping 0.75%.

Crude oil price rose 0.45% on Friday. OPEC delivers most of planned supply as demand looks to recover. The cartel increases oil production by 420,000 barrels a day to 26.82 million daily as members restore more of the supplies shuttered last year, according to Bloomberg.

Technical Analysis

GBPUSD (4-hour Chart)

Sterling failed to retain the recently upward momentum on Friday and trims the weekly gains to the 13893 level. The dollar rises even as the U.S. yield moves further downward. The key economic report of the U.S. was the core PCE deflator, an important inflation parameter for Fed. In the U.K., still, focus on the variant contagious number. Meanwhile, the BoE will hold a meeting next week. Market expect no change in monetary policy stance. For the technical aspect, the RSI indicator corrects its momentum then sets 50.7 figures as of writing, suggesting a lack of direction at the moment. For moving average side, 15 long SMA indicator easing upward movement then turn to flirt and 60 long SMA indicator remaining up way traction.

As failed to break through the first resistance, it turns back on the first support level. For now, we expect the market will kick off the rooming between a tiny channel between 1.4 and 1.3895. Forbid buyer, off-the-cuff support level is at the current stage. If went down subsequently, it would be expected to tamp down to the lower stage.

Resistance: 1,3985, 1.4

Support: 1.3665, 1.3745, 1.38, 1.3896

EURUSD (4- Hour Chart)

Euro fiber corrects lower following the early move beyond 1.19 and after spot hit the pressure on the upper territory. Furthermore, the euro pair is on track to close the week on the positive ground following two consecutive weekly pullbacks. On the eco-data side, preliminary GDP figures in the euro zone now see the region expanding 2% during Q2. From the technical perspective, the RSI indicator closes 55 figures as of writing, suggesting slightly bull movement for the short term. For moving average side, 15 long SMA indicator shows turn it slopes to the north side and 60 long SMA slightly moving to upward.

For price action, the market seems to find a comfortable support level at 1.1848 and flirting around 1.1848~1.188. At the current stage. If the price could breach 1.188 again, it could head to a higher level. On the downside, we deem the most strong support level will be the 1.1766 level, yet the short term is setting at 1.18.

Resistance: 1.188, 1.19

Support: 1.1848, 1.18, 1.1766

AUDUSD (4- Hour Chart)

Aussie went down under 0.735 threshold, reaching a fresh two-day low, driven by strong U.S. dollar across the board while greenback gained momentum during the London fix. In the meantime, market participants are awaiting for RBA meeting next Tuesday. On the other hand, most of the commodities were close negative except the oil market. On the technical side, the RSI indicator fell under 50 to 42 figures, suggesting a bearish movement ahead. For moving average perspective, 15 long SMA indicator turn its momentum to floating movement and 60 long SMA still flirting.

In light of the aforementioned, we expect the market will continue to test the 0.7415 level which is immediate resistance. If it could penetrate the first resistance, it would toward to next consolidation between 0.7416 and 0.7492 range. For downside, efficient immediate support will be 0.7384, 0.73 will be way off following.

Resistance: 0.7415, 0.7492

Support: 0.733, 0.73

20210802
Share
Pack Up