FXTM information and reviews
FXTM
95%
OctaFX information and reviews
OctaFX
94%
XM information and reviews
XM
93%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
91%
HFM information and reviews
HFM
89%

U.S. retail slumps in December 2018


15 February 2019

Trade balance figures from China showed a somewhat better picture compared to the expectations. Data for January showed that exports in dollar-denominated terms rose 9.1% during the month while imports fell 1.5%. This left the trade surplus at $39.1 billion for the month.

The data was better than the expectations which showed that both imports and exports would fall.

The European trading session showed that Germany’s GDP for the fourth quarter remained flat against expectations of a 0.1% increase. Meanwhile, the Eurozone’s GDP kept unchanged at 0.2% for the same period.

The U.S. trading session saw the delayed retail sales report coming out. Data for December showed that retail sales fell 1.2% on the month in December while core retail sales fell 1.8%. The data stoked concerns of the downside risks, and the USD paired gains as a result.

Earlier today, China’s inflation report released earlier today during the Asian trading session showed that headline inflation grew at a slower pace of just 1.7% on the year in January. Producer prices index advanced just 0.1% on the year, marking a steady decline over the past few months.

More figures to close off the trading week


The European trading session will start with the release of Italy’s trade balance figures and will be followed up later in the day with the release of the Eurozone’s trade balance figures.

The UK’s retail sales report is due, and the data is expected to show a 0.2% increase in retail sales. This following a 0.9% decline in the month before.

The NY trading session will see the Empire State Manufacturing Index report coming out. Forecast point to an increase in activity with the index expected to rise 7.6 from 3.9 previously. Import prices data from the United States should fall by 0.2% marking the third month of decline following a 1.0% decline in the month before.

The industrial production figures should show a modest pick up with activity rising 0.1%, slightly slower than the 0.3% increase from the month before.

The data concludes with the release of the UoM’s consumer sentiment and inflation expectations data.

EURUSD Intraday Analysis


EURUSD (1.1285): The EURUSD currency pair posted a modest recover off the lows and supported by the bullish divergence. However, price action continued to ease following the retest of the breakout level. The Stochastics oscillator is singling a bullish divergence near the lows. The resistance at 1.1327 remains a key level for the EURUSD. Price action needs to breakout past this level to confirm the upside bias. Failure to break the resistance could, however, keep the euro currency range bound.

USDJPY Intraday Analysis


USDJPY (110.28): The USDJPY currency pair reversed the gains just a few pips short of the resistance level at 111.21. The declines have been swift with prices recovering more than 50% of the gains made within the range. We expect the USDJPY to remain flat within 111.21 and 109.74 levels in the near term. If the current declines continue, then the USDJPY currency pair could retest the lower support at 109.74 level to the downside.

XAUUSD Intraday Analysis


XAUUSD (1312.49): Gold maintained its sideways range near the top end of the rally. Price action remained choppy while the ascending triangle pattern remains intact near the top. The upside breakout could potentially trigger further gains as gold will then need to test the resistance at 1321.25. With the daily chart’s bullish flag still intact, there is a scope that the upside momentum could push prices higher. To the downside, gold prices will need to a breakdown below the minor rising trend line to invalidate the upside bias.

Share: Tweet this or Share on Facebook


Related

Dollar flat as market braces for central bank decisions later in the week
Dollar flat as market braces for central bank decisions later in the week

The dollar was up modestly in early trading in Europe on Monday, at the start of a key week for central bank meetings on both sides of the Atlantic. By 03:00 ET (08:00 GMT), the dollar index...

30 Jan 2023

Mega Central banks, OPEC, NFP & Earnings week
Mega Central banks, OPEC, NFP & Earnings week

China Stock market returns from Luna New Year break. Chinese stocks rose while most other Asian equities fell as investors looked to interest rate decisions scheduled this week in the US...

30 Jan 2023

XAU/USD remains on the defensive around $1,925 ahead of US PCE
XAU/USD remains on the defensive around $1,925 ahead of US PCE

Gold price remains on the defensive for the second straight day amid modest US Dollar strength. Thursday’s upbeat US macro data fuels hawkish Fed expectations...

27 Jan 2023

XAU/USD retreats from multi-month top amid modest USD recovery, ahead of US GDP
XAU/USD retreats from multi-month top amid modest USD recovery, ahead of US GDP

Gold price pulls away from a fresh multi-month top amid a modest US Dollar strength. Bets for smaller rate hikes by Federal Reserve, recession fears should help limit losses...

26 Jan 2023

Microsoft: Still Trapped Within Descending Channel
Microsoft: Still Trapped Within Descending Channel

Microsoft Corp., an American multinational technology conglomerate currently ranked the third largest company by market capitalization ($1.728T) which actively engages...

24 Jan 2023

Same story new week
Same story new week

Chinese New Year celebrations – many centres are closed in Asia. Treasuries sagged to end on a bearish week. USDIndex at 101.30 low as the market continued...

23 Jan 2023


Editors' Picks

FXCM information and reviews
FXCM
87%
ActivTrades information and reviews
ActivTrades
86%
RoboForex information and reviews
RoboForex
85%
MultiBank Group information and reviews
MultiBank Group
84%
Libertex information and reviews
Libertex
83%
Vantage information and reviews
Vantage
83%

© 2006-2023 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.