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JUN
05
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Friday 5th June: Buck Abandons 97.00 Ahead of Non-Farm Payrolls

Key risk events today:

Canada Employment Change and Unemployment Rate; US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate.

(Previous analysis as well as outside sources – italics).

EUR/USD:

EUR/USD bulls entered a strong offensive phase Thursday, following Eur130 billion German fiscal stimulus, with additional impetus provided by the ECB exceeding expectations for a Eur500 billion PEPP boost.

After retesting 1.12 as support, H4 lifted through both 1.1250 and 1.13 to clock a session high of 1.1362. This, as evident from the chart, positions the 1.14 handle within reach.

Technically, latest bidding also breached the 2020 yearly opening level at 1.1222 (regarded as strong resistance) on the weekly timeframe, landing the pair within striking distance of trend line resistance, extended from the high 1.2555. In terms of the daily timeframe, yesterday crossed through resistance at 1.1239 and recently touched gloves with another layer of resistance at 1.1349. It might also be of interest to note the 200-day SMA (orange – 1.1012) is beginning to show signs of flattening after drifting lower since May 2018.

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JUN
04
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Ex dividend 05/06/2020

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JUN
04
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Thursday 4th June: Asian markets mixed as investors weigh recovery vs geopolitical tensions

04 Jun 2020

Global Markets:

  • Asian Stock Markets : Nikkei up 0.36%, Shanghai Composite down 0.14%, Hang Seng down 0.30%, ASX up 0.84%
  • Commodities : Gold at $1701.25 (-0.21%), Silver at $17.81 (-0.81%), Brent Oil at $39.10 (-1.73%), WTI Oil at $36.48 (-2.17%)
  • Rates : US 10-year yield at 0.751, UK 10-year yield at 0.264, Germany 10-year yield at -0.355

News & Data:

  • (AUD) Trade Balance 8.80B vs 7.50B expected
  • (USD) ISM Non-Manufacturing PMI 45.4 vs 44.2 expected
  • (CAD) Overnight Rate 0.25% vs 0.25% expected
  • (USD) ADP Non-Farm Employment Change -2760K vs -9000K expected
  • (GBP) Final Services PMI 29 vs 27.9 expected

Markets Update:

Asian stock markets are mixed  on Thursday following the overnight rally on Wall Street as new U.S. economic data added to investor optimism about a quick recovery from the coronavirus pandemic. Hopes of more stimulus measures also lifted stocks.

The European Central Bank’s policy decision is due later today. Economists expect the ECB to boost the pandemic emergency purchase program by 500 billion euros, bringing it to 1.25 trillion euros.

Tensions between US and China rose overnight after the U.S. suspended flights into the U.S. by Chinese airlines effective from June 16, the latest tit-for-tat over China approved the enactment of national security laws in Hong Kong and Macau last month.

The Australian market is extending its winning streak to a fourth day following the overnight rally on Wall Street rising 0.8%. Mainland Chinese stocks were mixed on the day, with the Shenzhen component up 0.3% and Shanghai Composite lower 0.1%. In Japan, the Nikkei 225 rose 0.4%.

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JUN
04
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Thursday 4th June: Technical Outlook and Review

Key risk events today:

Australia Trade Balance; ECB Main Refinancing Rate, Monetary Policy Statement and Press Conference; Canada Trade Balance; US Unemployment Claims.

(Previous analysis as well as outside sources – italics).

EUR/USD:

Europe’s single currency derived fresh impetus from upbeat Eurozone services PMIs and continued USD depreciation Wednesday. The US dollar index recorded its seventh consecutive decline, unable to glean any lasting traction from better-than-anticipated US data, such as ADP and ISM non-manufacturing PMI prints.

EUR/USD’s H4 activity overthrew both the 1.12 handle and Quasimodo resistance at 1.1220 (now a serving support) in recent hours, lifting to highs at 1.1251 and shining the spotlight on the possibility of an approach to 1.13.

Movement on the weekly timeframe has price action engaging with the 2020 yearly opening level at 1.1222 (regarded as strong resistance), and Quasimodo resistance at 1.1239. A breach here could land the pair at trend line resistance, extended from the high 1.2555.

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JUN
04
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CryptoNews of the Week

- According to JPMorgan strategist Nicolas Panigirtzoglou, the internal, or fundamental value of bitcoin has recently become consistent with the cryptocurrency market price. This is reported by The Block with reference to the expert's report. Panigirtzoglou is convinced that the gap between the rates has narrowed due to halving. According to his ob...
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JUN
03
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Ex dividend 04/06/2020

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JUN
03
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Wednesday 3rd June: Asian markets extend gains on recovery optimism

03 Jun 2020

Global Markets:

  • Asian Stock Markets : Nikkei up 1.29%, Shanghai Composite up 0.07%, Hang Seng up 1.36%, ASX up 1.83%
  • Commodities : Gold at $1726.60 (-0.43%), Silver at $18.18 (-0.47%), Brent Oil at $40.18 (+1.54%), WTI Oil at $37.61 (+2.17%)
  • Rates : US 10-year yield at 0.705, UK 10-year yield at 0.246, Germany 10-year yield at -0.383

News & Data:

  • (EUR) Spanish Services PMI 27.9 vs 24.7 expected
  • (CHF) GDP q/q -2.60% vs -2.00% expected
  • (CNY) Caixin Services PMI 55 vs 47.4 expected
  • (AUD) Building Approvals m/m -1.80% vs -10.80% expected
  • (AUD) GDP q/q -0.30% vs -0.40% expected
  • (GBP) BRC Shop Price Index y/y -2.40% vs -1.70% previous
  • (AUD) AIG Construction Index 24.9 vs 21.6 previous
  • (NZD) GDT Price Index 0.10% vs 1.00% previous
  • (USD) Wards Total Vehicle Sales 8.7M vs 11.1M expected
  • (GBP) 10-y Bond Auction 0.26|2.8 vs 0.26|3.2 previous
  • (GBP) M4 Money Supply m/m 1.50% vs 2.50% expected
  • (GBP) Net Lending to Individuals m/m -6.9B vs 1.7B expected
  • (GBP) Mortgage Approvals 16K vs 34K expected
  • Global manufacturing downturn eases in May, but only China enjoys growth

Markets Update:

Asian stock markets are rising on Wednesday, extending gains from the previous session following the positive cues overnight from Wall Street amid optimism about an economic recovery and on hopes of more stimulus measures.

Investors shrugged off worries about the spreading civil protests in the U.S. over the death of George Floyd at the hands of Minneapolis police officers.

Stocks in mainland China traded flat, with the Shanghai composite fractionally higher while the Shenzhen component dipped slightly. n Hong Kong, the Hang Seng index rose 1.4%, as of its final hour of trading, with shares of Chinese tech juggernaut Alibaba soaring 4.5%. Shares in Australia also saw gains, with the S&P/ASX 200 up 1.8%. Japan’s Nikkei 225 also saw decent gains as it advanced 1.3%.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.358 after weakening in recent days following levels above 99.4 seen last week. The U.S. Treasury yield curve steepened, partly reflecting the sale of more government debt to finance massive stimulus efforts.

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JUN
03
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Queen’s Birthday Holiday Trading Schedule 2020

03 Jun 2020

Dear Trader,

Please find our updated Trading schedule for the Queen’s Birthday Holiday in Australia on Monday, 08th June 2020. Times mentioned below are Platform time (GMT +3). 

If you have any questions or require any assistance, please contact one of our support team members via Live Chat, email: This email address is being protected from spambots. You need JavaScript enabled to view it., or phone +61 (0)2 8014 4280.

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JUN
03
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Wednesday 3rd June: Technical Outlook and Review

Key risk events today:

Australia GDP q/q; UK Final Services PMI; G7 Meetings; US ADP Non-Farm Employment Change; BoC Rate Statement and Overnight Rate; US ISM Non-Manufacturing PMI.

(Previous analysis as well as outside sources – italics).

EUR/USD:

The US dollar index, or more commonly referred to as the ‘DXY’, declined to levels not seen since March 13 on Tuesday after recording its sixth consecutive daily loss.

The euro continued to build on gains Tuesday, though recently peaked in the shape of a H4 shooting star candlestick pattern south of the 1.12 neighbourhood, which boasts a close connection to H4 Quasimodo resistance at 1.1199 and another layer of H4 Quasimodo resistance at 1.1220.

Although the H4 displays signs of topping, higher-timeframe structure suggests further upside could be on the cards.

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JUN
02
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Tuesday 2nd June: Asian markets mostly higher on overnight optimism

02 Jun 2020

Global Markets:

  • Asian Stock Markets : Nikkei up 1.19%, Shanghai Composite up 0.20%, Hang Seng up 0.96%, ASX up 0.27%
  • Commodities : Gold at $1744.90 (-0.31%), Silver at $18.72 (-0.58%), Brent Oil at $38.77 (+1.17%), WTI Oil at $35.77 (+0.93%)
  • Rates : US 10-year yield at 0.656, UK 10-year yield at 0.209, Germany 10-year yield at -0.428

News & Data:

  • (AUD) Cash Rate 0.25% vs 0.25% expected
  • (AUD) Current Account 8.4B vs 6.3B expected
  • (USD) ISM Manufacturing PMI 43.1 vs 43.5 expected
  • Registered unemployment rises in May by 26,573 people compared to the previous month
  • Turnover in Swiss retail trade fell by around 20% in April 2020 due to the COVID-19 pandemic

Markets Update:

Asian stock markets are mostly higher on Tuesday following the positive cues overnight from Wall Street. Optimism about the reopening of economies around the world helped offset worries about rising U.S.-China tensions and political unrest in the U.S. Reports indicated China has told state-owned firms to halt purchases of some U.S. farm goods amid tensions over Hong Kong.

Mainland Chinese stocks nudged higher on the day, with the Shanghai composite up 0.2%. Hong Kong’s Hang Seng index saw gains as well, rising 1.0%, as of its final hour of trading. In Japan, the Nikkei 225 added 1.2% as shares of index heavyweight and conglomerate Softbank Group surged more than 3% while the Topix index finished its trading day 1.2% higher. South Korea’s Kospi also closed 1.1%.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.861 after slipping from levels above 98 seen on Monday.

Oil futures steadied with traders waiting to see whether major producers agree to extend output cuts at an OPEC+ meeting later in the week.

Upcoming Events:

  • 08:30 AM GMT – (GBP) M4 Money Supply m/m
  • 08:30 AM GMT – (GBP) Mortgage Approvals
  • 08:30 AM GMT – (GBP) Net Lending to Individuals m/m
  • Tentative – (GBP) 10-y Bond Auction
  • All Day – (USD) Wards Total Vehicle Sales
  • Tentative – (NZD) GDT Price Index
  • 10:30 PM GMT – (AUD) AIG Construction Index
  • 11:01 PM GMT – (GBP) BRC Shop Price Index y/y

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