LiteForex_Official

LiteForex_Official

Current trend Yesterday the pair resumed its fall after some strengthening in the previous week. The Euro was pressured by weak data from Germany where the IFO Business Climate in April fell from 106.7 to 106.6 points, while experts predicted a growth to 107.0 points. Furthermore, the IFO Expectations came out worse than forecasts as well amounting to 100.4...

LiteForex_Official

Current trend On Monday the GBP/USD pair opened with a gap up at 1.4462 and then corrected down to the level of 1.4420. Support and resistance The price range of Bollinger Bands is widening. The pair broke out the upper MA but then returned into the range and may continue moving down towards the middle MA of the indicator. Support levels: 1.4420, 1.4370,...

LiteForex_Official

Current trend Yesterday the pair substantially strengthened amid the publication of labour market data in the US. Initial Jobless Claims unexpectedly fell to 247 thousands while economists predicted a growth to 263 thousands. In addition, the number of Continuous Claims shrank by almost 40 thousands. Today attention needs to be paid to data on the Consumer...

LiteForex_Official

Current trend This week, the pair remains under pressure due to weak statistics from the UK and a series of favorable news from Australia. Yesterday morning, data on Claimant Count Change showed a growth by 6.7K while analysts expected the indicator to be down by 10K. Today attention needs to be paid to data on Retail Sales, due in the UK, and speech given by...

LiteForex_Official

Current trend The pair continues growing amid strengthening in oil prices and the publication of strong macroeconomic statistics in Australia at the beginning of the week. The New Motor Vehicle Sales grew by 2.2% against the previous month that indicates that the consumer confidence is increasing. Today attention needs to be paid to data on the EIA Crude Oil...

LiteForex_Official

Current trend At the beginning of the trading week, the GBP/JPY pair has been correcting amid expectations of important macroeconomic releases. Data on adjusted merchandise trade balance is due in Japan on Wednesday. Analysts predict the indicator will grow from 242.8 billion to 834.6 billion. Thus, Japan is expected to post a trade surplus of almost 600...

LiteForex_Official

Current trend At the end of the week, the Canadian Dollar has been trading mixed against the US Dollar. Having reached new local lows on Wednesday, the pair has started correcting up amid the statements made by the Federal Reserve officials. The results of the recent Bank of Canada monetary policy meeting had a high impact on the market. However, it should be...

LiteForex_Official

Current trend The data for March showed unemployment in Australia was down by 0.1% to 5.7%. A decline in unemployment rate indicates a favorable situation in the labour market and strengthens the national currency. The indicator of employment change exceeded the forecast and came in at 26.1K that suggests an increase in consumer spending and has a positive...

LiteForex_Official

Current trend This week, the Pound continues strengthening against the US Dollar. The pair has gained support amid expectations of relatively favorable statistics on the UK economy. Today the data showed the Consumer Price Index grew by 0.4% in monthly terms against the forecast of 0.3%. In annual terms, the indicator was up by 0.5% while analysts expected it to...

LiteForex_Official

Current trend The price of gold continues its upward trend. The precious metal is strengthening as the Federal Reserve can delay interest rate rise, the stock market is falling so are US bonds yields. Capital inflow in exchange traded funds remains high that also supports the price of gold. On the other hand, gold purchases by the People’s Bank of China declined...

LiteForex_Official

Current trend Yesterday the US Dollar was losing its positions against the Canadian Dollar. Today attention needs to be paid to macroeconomic statistics from Canada and the US. Data on Building Permits for February is released in Canada at 2:30 pm (GMT+2). A high reading can strengthen the Canadian Dollar. A low reading, on the contrary, can weaken the national...

LiteForex_Official

Current trend On Tuesday the AUD/USD pair closed with a decline to 29 March afternoon session lows. It should be noted trading activity was high due to numerous important macroeconomic releases. In the morning session, the pair showed moderate growth after the results of the RBA monetary policy meeting were announced. Analysts’ expectations were confirmed, as...

LiteForex_Official

Current trend Macroeconomic statistics, released in the US last week, had no influence on the EUR/USD pair. However, it should be noted the Labor Force Participation Rate reached 63% which is the highest level since 2014. Donald Trump, a candidate for US President, believes the US economy is far from recovery. He suggests the real unemployment rate is higher...

LiteForex_Official

Current trend On Friday the GBP/USD pair was moving actively down amid the publication of statistics for March on US labour market. However, it should be noted that the data was quite mixed. In particular, Nonfarm Payrolls increased by 215K, lower than 245K in February but exceeding the forecast of 205K. Unemployment Rate was up by 0.1% and reached the key...

LiteForex_Official

Current trend The demand for the European currency can largely be explained by uncertainty over future monetary policy in the US. At the press conference on 29 March, the Fed Chair Janet Yellen noted the Regulator plans to increase interest rates gradually due to risks to global economic stability. As a result, the US Dollar came under pressure. One of the key...

LiteForex_Official

Current trend The pair continues growing amid weakening in the US Dollar. At the same time, data published by Standard & Poor’s ratings services firm showed that the pace of growth of the eurozone economy could be lower than forecasted 1.8%, and reach only 1.5%. To some extent, this is the result of recent terrorist attacks that substantially decreased tourist...

LiteForex_Official

Current trend Yesterday the pair strengthened amid Fed Chair Janet Yellen speech, in which she pointed out to the existence of substantial risks to world economy growth and the need to remain cautious with further monetary policy tightening in the US. Her comments significantly pressured the Dollar that allowed the Euro to strengthen. In addition, the pair was...

LiteForex_Official

Current trend The GBP/USD pair strengthened by more than 100 points on Monday. The pair was supported by macroeconomic data, released in the US. In particular, the PCE price index for February was down to 0.1% from 0.3%, and the indicator of personal income declined from 0.5% to 0.2%. As a result, the pair reached the level of 1.4282 but did not manage to...