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Mid-term review of exchange rates on 1.06.2017

Portal Forex trader 31.05.2017 at 21:36

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Hello. Below are a few recommendations for trading in the Forex market on 1.06.2017

a Calendar of expected events

10:55 Eurozone. The index of business activity in the manufacturing sector of Germany

11:30 UK. The index of business activity in the manufacturing sector

15:15 USA. The unemployment rate in the non-agricultural sector

17:00 USA. The index of business activity in the manufacturing sector

18:00 US. Crude oil inventories


On a pair NZDUSD formed a Pin bar at the round level 0,71000. Serious support from a pattern no, but you can go to a small correction down to the area 0,70500. Sales here do not consider, as they are against the trend.


On a pair EURNZD pattern, the Absorption level 1,57000. Will probably go back to 1,61000, then we will try to break down the up trend. The course of the proposed correction is quite good, so you can look at to shopping.

Open orders big banks

Changes for 31.05.2017 Credit Agricole placed a Sell Stop on EUR/USD of 1.1130, TR – 1.0700 is, SL 1.1320 Credit Suisse otstupite in buying USD/CHF with 0,9735 for 0,9691. Loss-44pp Danske placed a Sell Stop on EUR/USD with 1,1167, TR – 1,0850, SL 1.1350 Fundamental analysis


Asian shares grew, where the growth of the Japanese market helped to offset weakness in China, while investors assessed economic data and the prospects for increasing interest rates in the middle of this month. The yuan, meanwhile, extended an early profit, and oil rebounded. Global stock markets closed the may near record highs, as corporate earnings growth supported optimism in the prospects of the world economy and offset concerns about inflation.

the Japanese Topix index rose 1% after it rose by 2.4% at the end of last month. Singapore's Straits Times gained 0.5% and Sydney's ASX 200 rose 0.2% after a long time swung between gains and losses against the background of incoming economic data in Australia and also from China. Hong Kong's Hang Seng rose 0.4%, closing with gains for the fifth month in a row that is the longest series in 2013, while the Shanghai Composite fell 0.4%, interrupting a four-day rally. Futures on the S&P 500 added 0.1 percent after the underlying index fell 0.1 percent, reducing the may profit to 1.2%.

the U.S. dollar Index only rose slightly after declining 1.5% in may, which was the largest monthly decline since January. At the same time, the AUD fell by 0.5%, helped by weak economic data from China, which is the largest trading partner of Australia. The yen fell 0.2 percent to 110.95 USD. Today we expect to update the index of manufacturing activity in the Eurozone, the UK and the USA, as well as a report on the number of jobs in the U.S. labor market, which will be published tomorrow and is expected to be able to maintain its policy of raising interest rates, if justified forecasts of 180,000 increase.


European stocks closed mixed, but increased in may, although the decline in oil prices substantially affect the reduction in the overall monthly gain, where the price of benchmark Brent was down 3%.

the pan-European Stoxx 600 fell 0.13% to 389.99, while the Dax rose 0.13% to 12615.06 and the French CAC weakened by 0.42% to 5283.63. Milan Mibtel also decreased by 0.40% to 20731.68. Fixed assets the sub-index Stoxx 600 fell by 2.14% to 388.11. On the economic front, Eurostat revealed that unemployment in the Eurozone fell 9.4% in March from 9.3% in April, below the average forecast. At the same time, Eurostat said that price pressures slowed more rapidly than previously expected. In annual terms, the growth rate of the consumer price index fell to April's rate of 1.4%, although the moving rate 1.9% growth in early may.

On currency markets, the EUR declined slightly, by 0.02% to 1.1237 USD, while the GBP fell 0.1% to USD 1.2873. The latest survey of Times/YouGov showed that the Conservatives led by the current Prime Minister Theresa may overtake the labour party just three percent. Strong economic surveys of Germany, France, Italy and Spain suggests that the improvements observed in the first quarter, still will serve in the future, especially as many political risks to the Eurozone has receded, although the prospects of aggravation of some other still undefined.

regards, Artem aka TeaDrinker

last autumn