HFM information and reviews
HFM
96%
Octa information and reviews
Octa
94%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
Vantage information and reviews
Vantage
85%

Japan's Q1 GDP Rises 0.5%


20 May 2019

Beating estimates, Japan’s first-quarter GDP grew at a pace of 0.5%. On a year over year basis, Japan’s GDP advanced 2.1% during the January through March period, supported by government spending.

Capex fell 1.2% on the year while private consumption was down 0.3% marking the impact of the US and China trade wars. The Beijing administration showed little interest in resuming talks with the US, deeming the US behavior bullying.

Eurozone Core Inflation Rises 1.3%

The final inflation figures for the eurozone showed that headline consumer prices grew at a pace of 1.7% while core inflation was up 1.3%, beating estimates. The gains in consumer prices came due to higher airfare and transportation costs. The euro was muted as among other things, Italy’s prime minister brushed aside concerns of breaking the fiscal rules.

EURUSD Likely to Fall Further

The common currency could possibly continue to extend the declines as price tests the 1.1140 support. There is scope for price to correct from this support in the near term. The upside could see the euro testing the minor resistance level at 1.1182. A successful break above this level could see the euro extending the correction to test 1.1250 resistance.

UK Political Uncertainty Continues

Lawmakers in the UK called for Theresa May to resign by June 30th as she prepares to deal with a fourth vote later in the month. But the opposition Labor party has vowed to block the deal as the ruling Tory party prepares for potential candidates vying for the seat at 10 Downing.

Can the GBPUSD Continue the Declines?

The GBPUSD fell to a 4-month low on Friday. The steep declines saw prices testing the lower support at 1.2716. The Stochastics oscillator indicates oversold levels currently. While it is too early to tell, watch for a higher low to form near the current levels. To the upside, the initial target is seen at 1.2895 followed by 1.2975.

Gold Weakens as USD Gains on Consumer Sentiment

Gold prices extended declines into Friday’s close. Economic data from the US saw the preliminary consumer sentiment rising to 102.4. The CB’s leading index gained 0.2% on the month matching estimates, while inflation expectations grew 2.8%, up from 2.5% previously.

XAUUSD Could Consolidate, Trading Flat in the Short Term

The precious metal closed at 1277.67 on Friday. Price was supported once again by the 200-day moving average. Now comes the question of whether price can bounce to the upside. In the near term, a retracement back to the 1285 handle could potentially mark a retest of this level as resistance. A reversal from the 1285 level could indicate a possible move lower in the near term.

Share: Tweet this or Share on Facebook


Related

Yen stabilizes as Japan ramps up intervention warning
Yen stabilizes as Japan ramps up intervention warning

Threats of FX intervention help yen to stabilize near three-decade lows. Dollar and stocks take a step back, Bitcoin jumps in anticipation of halving. Shortage of liquidity could be an important market theme this week.

26 Mar 2024

Stocks at fresh records even as dollar bounces back
Stocks at fresh records even as dollar bounces back

Wall Street leads rally in equity markets, fuelled by rate cut optimism. US dollar stages surprise rebound amid US exceptionalism. Pound slides on BoE's dovish tilt, yen steadies, PBOC loosens grip on yuan.

22 Mar 2024

Dollar rises as Fed enters spotlight, yen plummets
Dollar rises as Fed enters spotlight, yen plummets

US dollar gains as traders brace for hawkish Fed. Yen tumbles despite BoJ's historic decision. Loonie slides on cooler than expected Canadian inflation. Wall Street gains ahead of Fed, oil extends advance.

20 Mar 2024

BoJ hikes, scraps yield curve control, but yen slumps

BoJ ends negative rates and yield curve control in historic move, but yen can't catch a break as Ueda signals ongoing accommodative stance.

19 Mar 2024

Dollar recovers, equities stall after US data releases
Dollar recovers, equities stall after US data releases

Dollar stages comeback as US data fuels speculation of fewer Fed cuts. Stocks and Bitcoin take a step back, oil climbs after Ukraine drone attacks. Yen traders play the guessing game ahead of next week's rate decision.

15 Mar 2024

US PPI and retail sales data enter the limelight
US PPI and retail sales data enter the limelight

After hot CPI inflation, dollar awaits PPI and retail sales data. Yen on the back foot as BoJ March hike bets decrease - S&P 500 and Nasdaq pull back, gold rebounds

14 Mar 2024


Forex Forecasts

MultiBank Group information and reviews
MultiBank Group
84%
XM information and reviews
XM
82%
FP Markets information and reviews
FP Markets
81%
FXTM information and reviews
FXTM
80%
AMarkets information and reviews
AMarkets
79%
BlackBull information and reviews
BlackBull
78%

© 2006-2024 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.