Weekly Markets Report

Transcription

1 ORBEX Weekly Markets Reprt OVERWEEK BULLET POINTS,THE WEEK AHEAD,MARKETS PREVIWE AND THE CHART OF THE WEEK ORBEX Research Department 21 st OF April., TO 25 th f April 1

2 Wed Apr 23 WEEKLY MARKETS REPORT OVERWEEK BULLET POINTS 14 th OF April., TO 18 th f April Japan trade deficit widens as exprts grwth slws dwn Nikkei clses dwn by 0.03% Switzerland, Germany, Italy, France, and the UK are all ut n Easter Mnday hlidays Australian New Mtr Vehicle Sales m/m: -0.3% vs. 0.1% previus Japanese Cnsumer Cnfidence: 37.5 vs frecast, 38.3 previus German PPI y/y: -0.9% vs. -0.7% frecast CA CPI grws by 0.6% vs. 0.4% expected US initial jbless claims up by 2K at 304K vs. 302K previus US Philly Fed manufacturing index clcks in at 16.6 vs index reading expected Chinese Premier Li: N stimulus as lng as grwth is arund 7.5% Japanese Cabinet cuts grwth frecasts but desn t see need fr mre stimulus Easter hlidays are limiting trading and vlatility USA, Russia, and ther EU cuntries strike a peace deal in Geneva THE WEEK AHEAD - 21 st OF April, TO 28 TH April The mst imprtant ecnmic release f the week 5:00pm USD Existing Hme Sales 4.57M 4.60M 4:30am AUD CPI q/q 0.80% 0.80% 4:45am CNY HSBC Flash Manufacturing PMI :00am EUR French Flash Manufacturing PMI :30am EUR German Flash Manufacturing PMI :30am GBP MPC Asset Purchase Facility Vtes GBP MPC Official Bank Rate Vtes :30pm CAD Cre Retail Sales m/m 0.60% 1.00%

3 Fri Apr 25 Thu Apr 24 5:00pm USD New Hme Sales 455K 440K 12:00am NZD Official Cash Rate 3.00% 2.75% NZD RBNZ Rate Statement 11:00am EUR German If Business Climate :00pm EUR ECB President Draghi Speaks 3:30pm USD Cre Durable Gds Orders m/m 0.60% 0.10% USD Unemplyment Claims 309K 304K 11:30am GBP Retail Sales m/m -0.40% 1.70% T view the full ecnmic calendar kindly click n Full Ecnmic Calendar MARKETS PREVIEW 14 th OF April., TO 18 th f April EUR currency has appreciating in its value since 18 mnths ag! It gained 10% against all majr currencies; and 15% against the dllar. This appreciatin in the value gives a threat f nndeflatin risk t all Eurzne area as we explained abut it several times befre in ur reprts. ECB (The Eurpean central bank) recently surprised us with a statement f it des nt have t manage the exchange rate; this is unusual t hear it frm ECB. Recently; Draghi has mentined that the slutin f the appreciatin f EUR and deflatin risks needs a new adjustment t the mnetary plicy; Mrever, He added t the fear f the market by mentin that strng Eur wuld negatively affect the recvery f the zne. S, fr nw what all the market players are watching the EUR currency fluctuatins and shuld us as well, t mentr this fluctuatin and new steps by the ECB fr the cming meeting.

4 Last week was with n majr events and this week as well, Except the PMIs reading fr the wrld which wuld have a majr impact n the market verview f the wrld recvery. Technical Crner As we can see frm the belw chart fr the daily time frm fr GBPUSD. We can suggest that the mid-term raising channel still valid and recently the pairs is trading n the upper-part f the ascending channel ( Which represent a cnslidatin pattern) ; S, a successful break f the resistance f levels mean a further up pressure which we d expect the 70s level t be reached.

5 Hwever, if the market did nt succeed t be traded abve the mentined levels s we will suggest the ther scenari f the 1. Break the cnslidatin pattern ascending triangle 2. Break the raising channel r rebund frm the lwer band f that channel. S, we wuld cnsider it the levels which wuld activate the either scenaris f cntinuatin f the up-trend r the declining in a crrectin phase. Risk Warning: Trading freign exchange n margin carries a high level f risk, and may nt be suitable fr all investrs. Befre deciding t trade freign exchange, yu shuld carefully cnsider yur investment bjectives, level f experience, and risk appetite. There is a pssibility that yu may sustain a lss f sme r all f yur investment and therefre yu shuld nt invest mney that yu cannt affrd t lse. Yu shuld be aware f all the risks assciated with freign exchange trading, and seek advice frm an independent financial advisr if yu have any dubts.