LiteForex_Official

LiteForex_Official

Current trend Today the pair strengthened amid mixed data from Japan. The Domestic Corporate Goods Price Index for October fell by 0.6% against the previous month, while was forecasted a fall of 0.4%, and by 3.8% against the previous year. At the same time, Machinery Orders for September grew by 7.5%, against forecasted 3.3%. The pair is supported by the Bank...

LiteForex_Official

Current trend On Wednesday, the GBP/USD pair managed to strengthen despite mixed labour market statistics, released in the UK. According to the Office for National Statistics, the Unemployment Rate for July to September declined from 5.4% to 5.3%, while analysts expected the indicator to remain unchanged at 5.4%. At the same time, Average Earnings grew by only...

LiteForex_Official

Current trend Today is a public holiday in the US so the volatility in the GBP/USD pair is expected to grow during the European session, when the UK releases Unemployment Rate and Average Earnings statistics for the third quarter. According to the forecast, Unemployment Rate will remain unchanged at 5,4% while Average Earnings will grow from 3.0% to 3.2%. At...

LiteForex_Official

Current trend On Tuesday, the EUR/USD pair was declining until Wholesale Inventories statistics were released in the US. The indicator came in above the forecast of 0.0%, having grown by 0.5%, that suggests an economic slowdown and negatively affects the US dollar. After the publication, the pair started strengthening and, at present, is trading in the area of...

LiteForex_Official

Current trend After a growth amid publication of strong labour market data from the US, the pair is trading within a narrow range. The pair remains under pressure from strong NFPR data and Bank of Japan commentaries that represented regulator’s tendency to continue with easy monetary policy. The most likely scenario is the pair’s movement within sideways channel...

LiteForex_Official

Current trend At the end of last week, the EUR/USD pair fell due the difference between the ECB and Fed monetary policies. The USD was supported by positive US labor market indicators for October. Non-farm Payrolls surged 271K from 153K, while analysts expected a growth by 180K. Unemployment rate declined from 5.1% to 5.0%. Amid the abovementioned statistics, at...

LiteForex_Official

Current trend Last week, the GBP/USD pair was falling. On Thursday, the GBP was under significant pressure when the results of the Bank of England meeting were released. UK monetary policy remained unchanged; moreover, given continuing concerns over the global economic slowdown, falling commodity prices, weak GDP figures and low inflation in the UK, interest...

LiteForex_Official

Current trend At December 3 meeting, the ECB will revise its monetary policy. The EU economy and inflation are under pressure from concerns over global economic slowdown. On the other hand, Fed officials and its Chair Janet Yellen have repeatedly stated the possibility of a rate hike at the forthcoming meeting, due in December. Thus, the EUR/USD pair is under...

LiteForex_Official

Current trend On Wednesday, the price of Brent crude oil posted the biggest fall in two weeks, having lost about $1.5. The main factor that pushed the price down was a notable increase in US oil production and reserves. Thus, reserves grew by 2.847 billion barrels, while production came in at 9.16 billion barrels. Today, the price continues being under pressure...

LiteForex_Official

Current trend The US dollar is strengthening amid growing possibility of a rate hike at the forthcoming Fed meeting. At the same time, the Bank of England publishes its interest rate decision and gives comments, concerning further monetary policy, today. Despite the UK has recently released some favorable statistics on Manufacturing PMI, Labour Productivity and...

LiteForex_Official

Current trend The pair is currently under pressure amid news regarding federal budget resolution for the next fiscal year in the US, as it needs to be approved by Congress. Yet the US President Obama expressed his hopefulness that the document will be passed without any delays and signed within the appropriate period. Support and resistance Gold continues...

LiteForex_Official

Current trend On Monday, despite weak US ISM Manufacturing PMI, which declined from 50.2 to 50.1 points in October, the US dollar managed to strengthen against most its counterparts at the end of the trading day. During last three weeks, the price of gold has been falling, indicating that investors are getting ready for a possible US interest rate hike. As long...

LiteForex_Official

Current trend Non-Farm payrolls for October is due on Friday in the US. If the indicator comes in below the forecast, the Fed would be less likely to raise its interest rates before the end of the year and the USD would be under pressure. According to TD Securities statistics, released today in Australia, zero inflation was recorded in October. On an annual...

LiteForex_Official

Current trend On Wednesday, the USD/CAD pair is declining despite the USD growth against other “commodity” currencies. Today, market participant are waiting for the results of the Fed meeting. Most analysts suggest that the Regulator will keep its interest rate unchanged. Global economic slowdown and increase in oil production and export, while global supplies...

LiteForex_Official

Current trend During the Asian session on Wednesday, the AUD/USD pair was under pressure from weaker-than-expected inflation figures, released in Australia. Falling commodity prices, a decline in exports to China reduce Australia’s export earnings, thus, adding pressure on the county’s budget. If the Fed decides to keep interest rates unchanged today, the RBA,...

LiteForex_Official

Current trend The price of Brent crude oil has been declining from month highs at $54 per barrel for three weeks already, being pushed down by the excess of supply over demand. Crude Oil Stocks change for the last week of October is due on Wednesday in the US. The previous report indicated a growth to 8.028 million barrels, which was more than 4 million barrels...

LiteForex_Official

Current trend At the beginning of the week, the USD/CHF pair is growing to new local highs. After a weekly rally, the USD keeps strengthening against the CHF despite weak New Homes Sales Change statistics, released on Monday in the US. In September, the indicator fell by 11.5% against a 5.2% growth in the previous month, while just a 0.4% decline was...

LiteForex_Official

Current trend When the President of the ECB Mario Draghi stated the readiness of the Regulator to extend its Quantitative Easing Programme, the EUR/USD pair lost more than 300 points within two days. Today, at the opening of the trading session, the pair was trying to strengthen but was negatively affected by the IFO Current Assessment statistics for October,...