https://go.ufx.com/ReDir.aspx?TLID=45354&UTM_Source=Youtube&UTM_Content=SiteReg&mktData=UFX_Channel Wall Street finished in the red Monday (31.08.15) as heightened concerns of a September interest rate hike by the Federal Reserve offset a sharp rally in crude prices amid further indications of declining production. The Dow Jones fell by 0.69%, the S&P 500 by 0.84%, and the NASDAQ lost 1.07% from its value. The US Dollar pared losses against most major currencies even after data showed that manufacturing activity in the Chicago-area expanded at a slower pace than expected in August. The Chicago PMI came out less than expected at 54.4 vs 54.7 forecast. Today, The ISM Manufacturing PMI is expected at 52.6 vs 52.7 previously. Gold finished unchanged, closing at $1,133 an ounce. Crude Oil rose sharply, closing at $48.16 a barrel, amid downwardly revised estimates on US output along with signals that OPEC could be willing to meet with its member states from emerging markets to develop a strategy to address crashing energy prices. The euro finished almost unchanged versus the dollar on Monday (31.08.15) after data showed that euro zone inflation remained low in August. Technically, according to the 1-hour chart, the pair has successfully breached the bearish trend line. Holding above with the positive 10-day Moving Average should lead the EUR/USD to a continuation of the ascending trend towards 1.1300. However. falling below the bearish line could start a drop to 1.1160 areas. The Pound traded lower versus the dollar as the greenback remained supported by Federal Reserve Vice Chair Stanley Fischer’s statement Friday (28.08.15) that it was still too early to decide whether to raise interest rates. Technically, according to the daily chart, the pair is trading in a channel between the resistance of 1.5684 and the support of 1.5343. Breaking the lower side of the channel could lead to a drop towards 1.5185, while breaching the upper side may take it to around 1.5900.
https://go.ufx.com/ReDir.aspx?TLID=45354&UTM_Source=Youtube&UTM_Content=SiteReg&mktData=UFX_Channel Wall Street finished mixed as investors look forward to a week of economic data that may provide clarity on the likelihood of a near-term US interest rate hike and help tamp down the market’s recent wild swings. The Dow Jones fell by 0.07%, the S&P 500 rose by 0.06%, and the NASDAQ added 0.32% to its value. The US Dollar traded high against most major currencies after positive data from the US added to optimism over the strength of the country’s economy, fueling more speculation over a possible September rate hike. Today, no major economic data is expected. Gold rose, closing at $1,133 an ounce. Crude Oil rose, closing at $45.25 a barrel, capping the biggest two-day percentage gain since 2009, as traders returned to the market to close out bets on lower prices. The euro fell versus the dollar, closing at 1.1177 as the Spanish Flash CPI came out less than expected at -0.4% vs -0.1% forecast. On the daily chart, the pair is trading around the mid-band of the Bollinger bands. Should it continue the negative trend, it is expected to drop towards the lower band at 1.0810. However, failure may lead it nearer the upper at 1.1540. The Pound traded almost unchanged versus the dollar after falling to an almost two-month low to close at 1.5414. On the 8-hour chart, the pair is trading below the resistance at 1.5465 with a negative Momentum indicator below 0. Maintaining these conditions lead to a continuation of the negative trend towards 1.5250, while crossing above the resistance may start a rise to around 1.5650.
https://go.ufx.com/ReDir.aspx?TLID=45354&UTM_Source=Youtube&UTM_Content=SiteReg&mktData=UFX_Channel Following last week’s heavy global market shakeup, the NASDAQ seems to be correcting upwards, closing the trading week with a 0.32% spike, bringing the index up to a market value of 4,828.33. The S&P 500 also recorded positive movement, before market close, going up a total of 0.06%, to a market value of 1,988.87. The DOW Jones didn’t fare as well as other US based indices, and dropped 0.07% down to a market value of 16,643.01. The EUR/USD ended the trading week on a down note. The pair dropped by a total of 61 pips, a 0.54% price depreciation, down to an exchange rate of $1.1185. The GPB/USD also ended the week with negative movement, dropping a total of 12 pips on Friday, a 0.08% slip, down to a rate of $1.5391. On a more positive note, the AUD/USD closed Friday with a 0.10% jump, bringing the exchange rate up by 7 pips, to $0.7173. The USD/CAD also went up, with a 0.01% and 1 pip price increase, to an exchange rate of $1.3200CAD. Crude Oil also recorded positive movement during market close. A barrel of West Texas Intermediate (WTI) went up by 6.25%, to a price of $45.22 a barrel. Brent Oil went up by 5.24%, breaking through the $50 point with a market price of $50.05 a barrel. Following last week’s volatile movement, gold proved to be the more sound investment. An ounce of Gold Spot gold went up by 0.76%, closing the week at $1,133.60. COMEX Gold also recorded positive movement, going up a total of 1.02% before market close, to a price of $1,134.00 an ounce.
https://go.ufx.com/ReDir.aspx?TLID=45354&UTM_Source=Youtube&UTM_Content=SiteReg&mktData=UFX_Channel Wall Street finished in the red after reversing early gains late in the session as investors remain unconvinced China’s move to cut its interest rates and bank reserve requirements will ease global growth concerns. The Dow Jones fell by 1.29%, the S&P 500 by 1.35%, and the NASDAQ lost 0.44% from its value. Yahoo shares rose by 1.37%, closing at 31.74 a share. The US Dollar traded high against most major currencies, recovering from the previous session’s steep losses, although concerns over the impact of slowing growth in China on the global economy continued to weigh on investor confidence. Today, the Core Durable Goods Orders and the Durable Goods Orders reports are expected at 0.3 and -0.4% respectively. Gold fell, closing at $1,140 an ounce. Crude Oil rose by 3.83%, closing at $39.71 a barrel. The euro fell versus the dollar, closing at 1.1536, backing even further away from Monday’s eight-month peak of 1.1713. On the daily chart, the pair is trading below the resistance of 1.1700. Holding below this level may take the pair back towards 1.1400. However, breaching the resistance may lift it towards 1.1800, a new 8-month high. No economic data is expected today. The Pound fell versus the dollar, closing at 1.5697. On the 4-hour chart, the pair is trading below the resistance of 1.5810 and below the 10-day Moving Average. Holding below these levels may drop the pair towards 1.5600. However, breaching the resistance and rising above the 10-day Moving Average may lead to an 8-month high at 1.5900. Today, the CBI Realized Sales is expected at 19 vs. 21 previously.
https://go.ufx.com/ReDir.aspx?TLID=45354&UTM_Source=Youtube&UTM_Content=SiteReg&mktData=UFX_Channel We begin with the US Stock Market: Wall Street finished in the red, having had its worst day in four years. Rattled about China’s economy, investors sold heavily in an unusually volatile session that confirmed the S&P 500 was formally in a correction. The Dow Jones fell by 3.57%, the S&P 500 fell by 3.94%, and the NASDAQ lost 3.82% from its value. Facebook shares fell by 4.61% closing at $82.09 a share. Technically, according to the 4-hour chart, the share is trading bearish and reached the support level at $73.00. Maintaining above this level may raise the share towards the $90.00 areas once again. However, breaking below it may take it down towards a one year low to around $67.00. Turning to the pairs now, the U.S. Dollar traded low against most major currencies after steep falls in Chinese equities overnight added to fears that the world’s second-largest economy is slowing, adding doubts as to how soon the Federal Reserve will hike interest rates. Today, the CB Consumer Confidence and the New Home Sales reports are expecting to be released at 92.8 and 512K respectively. The Pound rose versus the U.S. Dollar, closing at 1.5757 as did the euro which rose by 1.99%, closing at 1.1603, its highest level in 8 months, amid a global equities sell-off sparked by the potential recession in China. Today, the German IFO Business Climate is expected at 107.6 vs. 108.00 previously. Finally in commodities, Gold fell yesterday, closing at $1,152 an ounce and Crude Oil crashed 4.20%, closing at $38.37 a barrel. Technically, according to the 4-hour chart, oil is trading bearish, close to the lower band of the Bollinger bands. Maintaining below the mid band may lead to a fall of the “black gold” towards around $35.00. However, breaching above it may lead to a retracement and rising back towards around $42.00.