LiteForex_Official

LiteForex_Official

Current trend Since the opening of the Asian session, the US Dollar has been growing. Yesterday, the US currency gained support from macroeconomic statistics that strengthened expectations of a hike in US interest rates at the upcoming Fed meeting. US Energy Information Administration reported a rise by 0.961 billion barrels in crude oil stocks that added...

LiteForex_Official

Current trend Yesterday, the European currency reached its lows at 1.0585 and started correcting up. At present, the pair is trading at 1.0620. The level of 1.0585-1.0570, where large trading volumes were seen yesterday, is considered as the key one. Moreover, it is worth noting that a number of major banks, such as Goldman Sachs, have significantly reduced...

LiteForex_Official

XAU/USD, D1 On the daily chart, the price remains below its moving averages with periods 10, 20 and 50 that are directed down, which indicates a downward movement in the pair. MACD’s histogram is in the negative zone that also indicates a fall. ADX also suggest decline as the DI lines are heading down and ADX is falling. XAU/USD, H4 On the 4-hour chart, the...

LiteForex_Official

Current trend The next RBNZ meeting is due on 9 December. While the Fed is getting ready to start tightening US monetary policy, NZ monetary policy tends to remain loose. Amid lowering exports to China, falling commodity and dairy products prices and a slowdown in GDP growth, the RBNZ is likely to cut its interest rates again. The head of the RBNZ Graeme Wheeler...

LiteForex_Official

Current trend At today’s meeting, RBA Governor Glenn Stevens pointed out to improvements in employment in Australia and the general state of the economy outside of the mining industry. Nevertheless, amid falling investment in mining companies, slowing inflation rates, reduction in commodities exports to China and slowdown of the export oriented Australian...

LiteForex_Official

Current trend Switzerland’s export-oriented economy is under pressure amid a slowdown in the eurozone and China. Moreover, a strong national currency makes Swiss export less competitive. Swiss inflation and retail sales growth have fallen to almost zero and industrial production has declined. At the same time, the Fed is expected to raise its interest rates at...

LiteForex_Official

The EUR/USD pair continues its downward trend. The European currency was under pressure from commentaries by ECB President who stated that the Regulator is ready to further ease its monetary policy. In addition to QE expansion, deposit rates may be cut that was considered by market participants as a signal to enter short positions. Inflation in the eurozone...

LiteForex_Official

Current trend Yesterday, the Bank of Japan decided to keep its current monetary policy unchanged. BoJ Governor considers that a decline in the third-quarter GDP was insignificant. However, as many economists suggest, the Regulator may be back to discussion on easing policy at its next meeting, due on 28-29 January. At the same time, market participant are...

LiteForex_Official

Current trend Yesterday, the GBP managed to strengthen against the USD despite a decline at the close of trading. The National Statistics released UK Retail Sales data for October. After a 1.7% rise in September, the indicator came in at -0.6%, below the forecasted -0.5%. Retail Sales ex-fuel also fell by 0.9%, while analysts expected a decline by 0.5%. Initial...

LiteForex_Official

Current trend Today, the NZD/USD pair has strengthened amid the publication of FOMC Minutes and New Zealand Producer Prices statistics. In the third quarter, output and input prices both grew 1.3% and 1.6%, respectively. However, another cut in NZ interest rates is possible at the upcoming RBNZ meeting. The country is facing a decline in economic growth due to a...

LiteForex_Official

Current trend Yesterday, the price of Brent crude oil strengthened slightly and consolidated around $44.00-44.50 per barrel. The Energy Information Administration released Crude Oil Stocks change that indicated an increase by 0.252 million barrels in stocks of crude oil in the US, well below the previous 4.224 million rise and the forecast of a 1.600 billion...

LiteForex_Official

Current trend The pair is supported by increased expectations of an interest rates hike in the US in December. In addition, data on Manufacturing Sales that came out on Monday in Canada showed a significantly worse figure than predicted by economists. Manufacturing Sales shrank by 1.5% instead of a forecasted increase by 0.1%. During the week, attention needs to...

LiteForex_Official

Current trend During a week, the GBP/USD pair has been trading within a narrow range, close to the level of 1.5210. At present, the pair is still waiting for an impulse that will manage to push the price out of its sideways channel. However, such an impulse is unlikely to occur today. The only news release that may influence the dynamics in the pair is FOMC...

LiteForex_Official

Current trend Consumer Price Index, Industrial Production and Capacity Utilization statistics are due today in the US. Ahead of these releases, the US dollar has strengthened against its major counterparts. At the same time, recent statistics confirm that the EU economy is facing low growth and a low inflation. Thus, due to the difference between monetary policy...

LiteForex_Official

Current trend At present, the RBA needs to make sure that a decrease in interest rates is really appropriate. According to RBA Meeting's Minutes, business conditions in the country are seen as very favorable and economic growth is likely to strengthen despite high unemployment rate. Today, attention needs to be paid to Consumer Price Index, Industrial...

LiteForex_Official

Current trend The EUR /USD pair is under strong pressure from the difference between monetary policies, led by the EU and US. The ECB aims at extending its quantitative easing programme as the forecast for inflation was revised down due to the strengthening in the EUR. At the same time, despite of a slight decline in inflation expectations, Fed officials...

LiteForex_Official

Current trend Last week, the GBP/USD pair managed to strengthen amid weak US macroeconomic indicators, in particular, when Retail Sales statistics were released on Friday. However, at present, the dynamics has changed. This week, attention needs to be paid to Producer Price Index, Retail Price Index and Consumer Price Index, due in the UK. The US, in its turn,...

LiteForex_Official

Current trend Today, the AUD/USD pair is keeping its positions though the US dollar is strengthening against other currencies. On Thursday, the Australian dollar gained significant support from strong labour market statistics, released in Australia. Thus, Unemployment Rate declined from 6.2% to 5.9% in October, while Employment Change indicated a growth by 58.6K...