Forex Signals US Session Brief, Oct 15 – Earnings Start to Weaken in the UK, China Wants the US to Remove All Tariffs

Posted on October 15, 2019October 15, 2019 by Skerdian Meta

The UK economy has been hit by Brexit and the weakening global economy, which comes as a result of the trade war, as well as from the monetary tightening that major central banks have been doing in recent years, particularly the FED. Manufacturing, construction, industrial production, etc, have fallen in recession. Although, certain aspects of the economy have been holding up well, such as inflation, earnings and employment. But, in the recent weeks these aspects have started to weaken as well. Inflation softened in September as last week’s report showed, while today, the unemployment rate ticked higher and earnings cooled off.

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Forex Signals US Session Brief, Oct 14 – The USD Finds Bids on A Bank Holiday Monday

Posted on October 14, 2019 by Skerdian Meta

The sentiment in financial markets has been negative in recent months. The trade war has been escalating, with more tariffs and blacklisting of Chinese companies and the global economy has deteriorated a lot, especially this year. But, the sentiment turned around last week, particularly in the last two days. US and China seemed to be reaching an agreement for a partial trade deal which they called Phase One Deal. We also heard positive comments regarding Brexit from all sides, which improved the sentiment and sent risk assets such as commodity dollars and stock markets higher. The GBP was the main beneficiary from all that. Continue reading “Forex Signals US Session Brief, Oct 14 – The USD Finds Bids on A Bank Holiday Monday” →

Forex Signals US Session Brief, Oct 11 – GBP and CAD Surge, Supported by Fundamentals

Posted on October 11, 2019 by Skerdian Meta

Until a few days ago, things looked so gloomy. Brexit was heading towards a dead end, the trade war was at its height and the global economy was heading for recession. Now, a few days later and everything seems to be changing. The global economy continues to weaken, but the employment report we saw coming out of Canada today was quite impressive. Full time jobs increased considerably in September, wages jumped and the unemployment rate declined unexpectedly by 0.2%, which sent the CAD surging higher. Continue reading “Forex Signals US Session Brief, Oct 11 – GBP and CAD Surge, Supported by Fundamentals” →

Forex Signals US Session Brief, Oct 10 – Risk Sentiment Improves As Trade Negotiations Resume

Posted on October 10, 2019October 10, 2019 by Skerdian Meta

Yesterday, we saw a 100 pip jump in GBP/USD after hearing rumours that the EU offered some concessions to the UK. Rumours said that the the EU would accept a time-limited backstop on Northern Ireland, but the DUP Party of Northern Ireland shot that suggestion dead quite quick. All sides retreated back to their positions after that and [[GBP/USD]] returned down. Today this pair climbed higher again, but this time the move came from the USD side.

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Forex Signals US Session Brief, Oct 9 – GBP Moves Up and Down On Brexit Promise and Denial

Posted on October 9, 2019 by Skerdian Meta

Today the sentiment in financial markets turned positive after China said to be ready to a partial deal with the US, despite the recent blacklisting of Chinese tech companies from the US. The blacklisting of the recent days put trade talks and the outcome back into question, but China is playing nice today. They said to be ready for a partial deal with the US and promised to buy more agricultural products from the US, but that’s still not one of the core issues for the US, so markets are still being careful.

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Forex Signals US Session Brief, Oct 8 – Risk Off Again, While GBP Tumbles on NI Comments

Posted on October 8, 2019October 8, 2019 by Skerdian Meta

The GBP has been trading up and down in the last few months. When we hear positive comments on Brexit, the GBP rallies higher. When comments are negative such as today, [[GBP/USD]] tumbles lower. Today we heard comments from the European Union that they want Northern Ireland (NI) to stay in the Customs Union, which would basically leave it within the EU. The UK would never opt for that and Prime Minister Boris Johnson said that this position of the EU leaves no room for a Brexit deal, not just now, but ever. This means that even if Brexit gets postponed once again, since the British Parliament made it illegal to leave the EU without a deal, we won’t get a deal in several months’ time.

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Forex Signals US Session Brief, Oct 7 – The USD Recuperates Some of Last Week’s Losses

Posted on October 7, 2019 by Skerdian Meta

The USD has been the only currency for forex trader to turn to in more than a year, as major economies of the world kept weakening, which sent their currencies down. The US economy was holding up well until a few months ago, which left the USD as the only major currency to buy. But, the US economy has weakened in recent months and the ISM manufacturing report last Tuesday showed that this sector fell deeper in contraction, increasing fears that US manufacturing might end up like German manufacturing, which is in deep recession. Continue reading “Forex Signals US Session Brief, Oct 7 – The USD Recuperates Some of Last Week’s Losses” →

Forex Signals US Session Brief, Oct 4 – There’s Still Hope for the USD After the Decline in US Unemployment Rate

Posted on October 4, 2019 by Skerdian Meta

The USD has turned pretty bearish this week. The ISM manufacturing report on Tuesday was expected to show this sector coming out of contraction in August, after it fell below 50 points in July. But, this indicator fell further, which increased fears that the manufacturing sector might be heading towards recession like in the Eurozone. Then, yesterday’s ISM non-manufacturing PMI made a big decline and it got pretty close to stagnation. Non-manufacturing activity has been holding up pretty well in the US, despite global economic headwinds. But now it headed towards stagnation and traders rightfully turned even more bearish on the USD, implying that the US economy might head where the rest of the globe has been headed for more than a year. Continue reading “Forex Signals US Session Brief, Oct 4 – There’s Still Hope for the USD After the Decline in US Unemployment Rate” →

Forex Signals US Session Brief, Oct 3 – USD Continues the Decline, GBP Pops on Brexit Optimism

Posted on October 3, 2019 by Skerdian Meta

The sentiment shifted in financial markets on Tuesday afternoon after the US ISM manufacturing report came in pretty weak, showing that the contraction in this sector deepened further in September. That increased fears for a further economic slowdown in the US s well as globally and the sentiment has turned pretty negative once again, with stock markets suffering some major losses for the second day and the USD sliding lower against all major currencies. Continue reading “Forex Signals US Session Brief, Oct 3 – USD Continues the Decline, GBP Pops on Brexit Optimism” →

Forex Signals US Session Brief, Oct 2 – Risk Sentiment Switches Off After US ISM Manufacturing Falls Deeper in Contraction

Posted on October 2, 2019 by Skerdian Meta

The sentiment in financial markets has been switching on and off during this year, and it continues to do that. In the last few days, the sentiment has been positive, with the USD climbing higher, while safe havens have been retreating lower. But, the US ISM manufacturing PMI report yesterday turned the sentiment around once again. Expectations were that this indicator would climb above 50 points again yesterday, meaning that the manufacturing sector would turn into expansion again after a small contraction in August. Continue reading “Forex Signals US Session Brief, Oct 2 – Risk Sentiment Switches Off After US ISM Manufacturing Falls Deeper in Contraction” →