Sample Category Title

The British Pound has been depreciating in a short-term descending channel pattern against the Canadian Dollar. This descending channel pattern was formed on March 28.

The exchange rate is currently heading towards the bottom border of a dominant ascending channel at 1.7313.

Most likely, the currency exchange rate will continue its decline within this trading session.

Given that the 50-, 100– and 200-hour SMAs are above the price level, bearish traders could push the GBP/CAD pair to break the dominant ascending channel during the following trading sessions.

WTI oil extends advance to new five-month high at $64.77 on Tuesday, additionally boosted by threats for further supply tightening on rising violence in Libya.

Monday's close above 55WMA ($62.82) was bullish signal, with today's extension above important Fibo barrier at $63.69 (61.8% of $76.88/$42.36) and penetration into weekly cloud (base of cloud lays at $63.87) adding to positive outlook.

Daily close above these barriers is needed to confirm signals.

Bulls for now ignore strongly overbought daily RSI and stochastic, but corrective action should be anticipated in coming sessions.

Release API report today and EIA weekly crude stocks on Wednesday will be closely watched for fresh signals.

Last week's surprise build in crude inventories showed little negative impact on oil prices, as strong bullish sentiment on production cut and US sanctions continues to strongly underpin the action.

Res: 64.77, 65.00, 65.37, 66.85
Sup: 64.30, 63.69, 63.36, 62.80

Notes/Observations

• PM May travelling to meet Merkel and Macron today ahead of tomorrow's summit that will decide on the UK extension request
• USTR released a list of EU goods which will be subjected to additional tariffs if the EU continued to provide subsidies to Airbus; EU said to be planning to retaliate
• World Bank/IMF Spring Meetings kicking off later today
• Focus on key events for Wednesday with ECB meeting, the emergency EU Council meeting to discuss the Brexit extension, the FOMC minutes and US CPI data

Asia:

• South Korea President Moon and US President Trump expected to produce a "meaningful" outcome on North Korea's denuclearization process when they hold talks in Washington later this week
• China PBoC Open Market Operation (OMO) skipped for 14th consecutive session:

Europe:

• EU said to be settling on the idea of offering an extension to Britain despite the lack of progress at home. EU would set a high price for delaying Brexit including UK to give up rights in future EU budget and trade talks; Would force UK into no deal Brexit if it sought to cancel election to European parliament May 23rd. PM May currently seeking an extension to June 30th, EU might insist on longer extension to March 31, 2020. UK could seek to cancel elections to the European parliament if Tories suffer heavy defeats in local elections on May 2nd
• UK PM May to meet German Chancellor Merkel and France President macron on Tuesday, Apr 9th. She would be told today that the UK would lose its voice in future EU budget talks and trade deals as the price to pay for another Brexit delay
• UK Govt Spokesperson: Ministers to resume Brexit talks with Labour party Tuesday
• PM May said to be considering giving MPs a vote on a 2nd Referendum in an attempt to break the deadlock with Labour over Brexit talks. Tory Chief Whip said to be confident the govt has the numbers to defeat a bid by Labour to hold a 2nd Referendum

Americas:

• US Trade Representative (USTR) proposed tariffs in response to EU subsidies for Airbus deemed illegal by the WTO. USTR estimated the harm from the EU subsidies of $11B/year. Proposed tariffs include new passenger helicopters, various cheeses and wines, ski-suits and certain motorcycles.

SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM

Equities

• Indices [Stoxx600 +0.25% at 388.48, FTSE -0.08% at 7,445.65, DAX +0.08% at 11,974.36, CAC-40 +0.21% at 5,483.17, IBEX-35 +0.40% at 9,480.95, FTSE MIB +0.48% at 21,876.50, SMI +0.58% at 9,603.10, S&P 500 Futures -0.06%]
• Market Focal Points/Key Themes: European Indices trades mostly higher, trading towards the upper end of today's range with he the FTSE100 trading lower then recently higher in Cable volatility on reports of a Brexit backstop compromise from German Chancellor Merkel, which was then denied. On the corporate front shares of Societe Generale trades over 3% higher after the company confirms a potential cut of 1.6K jobs; Finish traded DNA Oyj trades over 7% higher following Telenors majority stake acquisition at €20.50/shr. On the earnings front City Pub Group gains on a rise in profits and Revenues with Amerisur Resources also gaining on earnings. Meanwhile Stride Gaming trades lower after warning that it does not expect to recover H1 Rev shortfall for the full year, with Gooch & Housego also declining on a trading update. In other news Novartis shares fall ~10% after the completion of the spin-off of its Alcon unit, with Alcon trading 5% following its IPO; WPP also gains on reports EQT could also be looking into it's Kantar unit, while Airbus declines on talk that the US may impose tariff counter measures to counter EU aircraft subsidies. Looking ahead notable earners include Lindsay Manufacturing and Shaw Communication.

Equities

• Consumer discretionary: Givaudan [GIVN.CH] -1% (earnings), The City Pub [CPC.UK] +5% (earnings), WPP [WPP.UK] +1.% (divestment spe5culation)
• Financials: Societe Generale [GLE.FR] +0.5% (job cuts), Industrivarden [INDUA.SE] -0.5% (earnings)
• Healthcare: Novartis [NOVN.CH] -10% (completes Alcon spin-off), Poxel [POXEL.FR] % (positive study update)
• Industrials: Airbus [AIR.FR] -2%, Dassault Aviation [AM.FR] -1% (US Trade Representative (USTR) proposes tariffs to counter EU aircraft subsidies)
• Technology: Stride Gaming [STR.UK] -15% (trading update), Gooch & Housego [GHH.UK] -4% (trading update)
• Telecom: DNA [DNA.FI] +8%, Telenor [TEL.NO] -1% (DNA's stake sold to Telenor)

Speakers

• EU Brexit Negotiator Barnier reiterated stance that an orderly withdrawal of UK from the EU remained the objective, reaffirmed withdrawal deal would not be reopened. EU needed a roadmap for Brexit from PM May
• UK Brexiteer lawmaker said to have been told that German Chancellor Merkel was willing to put a five year time limit on the Northern Ireland backstop (**Note: such a case would make it difficult for Parliament to reject May's Brexit deal but would likely need some extra assurances)
• Germany said to deny press speculation on Chancellor Merkel was considering a 5-year time limit on the Irish backstop
• ECB Q1 Lending Survey: Credit standards for corporate loans stable in quarter
• Italy Fin Min Tria: Domestic growth was positive in the short-term but risks remained. Reiterated that Italy's debt needed to be reduce but was not a threat to other countries. Needed to reduce taxes and spending in 2020
• UK Justice Min Gauke: PM May had made it clear she did not want a 2nd referendum, topic not mentioned in meetings. PM May to make the case to EU that extra time would be used to find a constructive way forward
• Italy said to potentially delay new economic forecasts into week of Apr 15th due to ongoing differences between coalition partners
• Italy official refuted press reports that economic outlook would be delayed and was set for cabinet approval later today
• Ireland Foreign Min Coveney reiterated EU stance that need clarity on how Britain would use the extra time for Brexit; a real plan would be required
• EU and China officials said to be issuing a joint statement after achieving an 11th hour accord; to show a united front against President Trump on trade. EU and China settled splits on trade and investment and paves the way for a joint statement
• EU said to be preparing its own possible retaliation over Boeing aid
• Russia Fin Min Siluanov: Russia 2019 GDP growth may be above 1.3%
• Russia Central Bank 1st Dep Gov Yudaeva: Not seeing any significant inflationary risks
• China Foreign Ministry Spokesman Lu Kang reiterated China, U.S. made substantial progress in latest trade talks

Currencies/Fixed Income

• FX markets continued to remain quite subdues with focus on key events for Wednesday with ECB meeting, the emergency EU Council meeting to discuss the Brexit extension, the FOMC minutes and US CPI data
• GBP/USD was initially steady around the 1.3075 area as PM May prepared to travel to meet Merkel and Macron later today ahead of tomorrow's summit that would decide on the UK extension request. However, the GBP strengthened to test above 1.31 after reports circulated that German Chancellor Merkel was willing to put a five year time limit on the Northern Ireland backstop. Dealers noted that such a limit would make it difficult for UK parliament to reject May's Brexit deal . The speculation was refuted by a German official
• EUR/USD drifting higher over the past 24 hours but well contained in the 6-month trading range. Piar last at 1.1275 just ahead of the NY morning.

Economic Data

• (NL) Netherlands Feb Manufacturing Production M/M: 0.1% v 2.8% prior; Y/Y: 0.5% v 0.1% prior; Industrial Sales Y/Y: -2.0% v -7.8% prior
• (CH) Swiss Mar Unemployment Rate: 2.5% v 2.5%e; Unemployment Rate (Seasonally adj): 2.4% v 2.4%e
• (DK) Denmark Feb Current Account (DKK): B v 13.0B prior; Trade Balance: B v 6.9B prior
• (NO) Norway Feb GDP M/M: -0.4% v +0.2% prior; GDP Mainland M/M: -0.3% v +0.1%e
• (FI) Finland Feb Preliminary Trade Balance: -€0.1B v +€0.5B prior
• (HU) Hungary Mar CPI M/M: 0.7% v 0.5%e; Y/Y: 3.7% v 3.5%e
• (IT) Italy Feb Retail Sales M/M: +0.1% v -0.2%e; Y/Y: 0.9% v 1.2% prior
• (CZ) Czech Mar International Reserves: $142.9B v $143.5B prior
• (TW) Taiwan Mar CPI Y/Y: 0.6% v 0.6%e; CPI Core Y/Y: 0.5% v 0.5%e; WPI Y/Y: 1.2% v 0.7% prior
• (GR) Greece Feb Industrial Production Y/Y: 2.3% v 4.2% prior

Fixed Income Issuance

• (ES) Spain Debt Agency (Tesoro) sold total €1.273B vs. €1.5-2.0B indicated in 3-month and 6-month bills
• (ID) Indonesia sold total IDR15.72B vs. IDR15.0T target in 3-month,12-months; 5-year,10-year,15-year and 20-year Bonds
• (AT) Austria Debt Agency (AFFA) sold total €B vs. €1.15B indicated in 2023 and 2029 RAGBs
• (ZA) South Africa sold total ZAR3.3B vs. ZAR3.3B indicated in 2023, 2035 and 2044 bonds

Looking Ahead

• (PT) Bank of Portugal Feb ECB financing to Portuguese Banks: No est v €18.7B prior
• (UR) Ukraine Mar CPI M/M: No est v 0.5% prior; Y/Y: No est v 8.8% prior
• (SI) Slovenia Debt Agency to sell 3-month, 6-month and 18-month Bills
• (EU) China/EU summit in Brussels
• (UK) PM May to meet German Chancellor Merkel in Berlin
• 05:30 (UK) Weekly John Lewis LFL Sales data
• 05:30 (EU) ECB allotment in 7-Day Main Refinancing Tender (MRO)
• 05:30 (HU) Hungary Debt Agency (AKK) to sell in 3-month Bills
• 05:30 (DE) Germany to sell €750M in 0.5% Apr 2030 I/L Bonds
• 05:30 (BE) Belgium Debt Agency (BDA) to sell 3-month and 12-month Bills
• 05:30 (UK) BOE allotment in 6-month GBP-enhanced liquidity repo operation (ILTR)
• 06:00 (US) Mar NFIB Small Business Optimism Index: 102.0e v 101.7 prior
• 06:00 (PT) Portugal Feb Trade Balance: No est v -€2.0B prior
• 06:45 (US) Daily Libor Fixing
• 07:45 (US) Weekly Chain Store Sales data
• 08:00 (RO) Romania Central Bank Apr Minutes
• 08:00 (BR) Brazil Feb Retail Sales M/M: -0.2%e v +0.4% prior; Y/Y: 2.9%e v 1.9% prior
• 08:00 (BR) Brazil Feb Broad Retail Sales M/M: -0.3%e v +1.0% prior; Y/Y: 7.6%e v 3.5% prior
• 08:00 (UK) Baltic Bulk Index
• 08:00 (RU) Russia announces upcoming OFZ Bond issuance
• 08:05 (SE) Sweden Central Bank (Riksbank) Dep Gov Ohlsson
• 08:55 (US) Weekly Redbook Retail Sales data
• 09:00 IMF updates its World Economic Outlook (WEO)
• 09:00 (MX) Mexico Mar CPI M/M: 0.4%e v 0.0% prior; Y/Y: 4.0%e v 3.9% prior; CPI Core M/M: 0.3%e v 0.4% prior
• 09:00 (RU) Russia Q1 Preliminary Current Account balance: $31.0Be v $38.4B prior
• 09:00 (EU) Weekly ECB Forex Reserves
• 10:00 (US) Feb JOLTS Job Openings: 7.566Me v 7.581M prior
• 10:00 (MX) Mexico weekly International Reserve data
• 12:00 (US) USDA World Agricultural Supply and Demand Estimates (WASDE)
• 13:00 (US) Treasury to sell 3-Year Notes
• 16:30 (US) Weekly API Oil Inventory data
• 18:45 (US) Fed's Clarida (hawk, voter) at event in Minneapolis

Tuesday April 9: Five things the markets are talking about

So far, much of the global equity rally has been supported by investor bets that U.S economic growth will be strong enough to support corporate profits, but modest enough to keep the Fed from having to hike interest rates. In reality, the market gets their next look at how well that theory is holding up as earnings season kicks off in earnest later this week.

Overnight, some of the equity gains have been capped and are now drifting lower, along with U.S equity futures, after President Trump threatened new tariffs on goods produced in Europe. U.S Treasuries are trading steady along with the dollar ‘bid.’

Focus also remains on the prospects for a conclusion in trade talks between the U.S and China, as well as key events this week, including U.S inflation data, an ECB monetary policy decision and PM Theresa May’s meeting with E.U leaders beginning later today.

In commodities, crude oil trades atop of its recent five-month high as an escalation of fighting in OPEC+ producer Libya overshadowed an increase in U.S rigs.

On Brexit, the EU is said to be settling on the idea of offering an extension to Britain despite the lack of progress at home. If so, expect the EU to set a high price for delaying Brexit including the U.K to potentially give up rights in future EU budget and trade talks.

On tap: GBP GDP & manufacturing product, ECB monetary policy statement, USD CPI & FOMC meeting minutes (Apr 10). The World Bank/IMF spring meetings begin later today.

1. Stocks mixed results

In Japan, the Nikkei ended higher overnight as tech shares and machinery stocks outperformed. The Nikkei share average ended +0.2% higher, while the broader Topix shed -0.1%.

Down-under, Aussie stocks were little changed overnight, with losses among financials erasing gains from energy stocks, as investors remained cautious ahead of a looming U.S earnings season. The S&P/ASX 200 index climbed + 0.01% at the close of trade. The benchmark rose +0.7% on Monday. In S. Korea, the Kospi index ended small down. The index lost -0.1% at close of trade.

In China, the blue chip CSI300 index rallied overnight as Beijing took steps to encourage “urbanisation to support economic growth,” but the broader Shanghai index ended lower on uncertainty over Sino-U.S trade talks. At the close, the blue-chip CSI300 index gained +0.5%, while the Shanghai Composite index lost -0.2%.

In Hong Kong, stocks ended higher on China policy optimism. At the close of trade, the Hang Seng index was up +0.3%, while the Hang Seng China Enterprises index rallied +0.2%.

In Europe, regional bourses have opened broadly lower, feeding through to some support for regional bond markets.

U.S stocks are set to open deep in the ‘red’ (-0.6%).

Indices: Stoxx600 +0.25% at 388.48, FTSE -0.08% at 7,445.65, DAX +0.08% at 11,974.36, CAC-40 +0.21% at 5,483.17, IBEX-35 +0.40% at 9,480.95, FTSE MIB +0.48% at 21,876.50, SMI +0.58% at 9,603.10, S&P 500 Futures -0.06%

2. Oil trades atop of 5-month highs amid Libya violence, OPEC cuts and U.S sanctions

Oil prices trade near their five-month highs overnight as markets continued to tighten amid OPEC-led supply cuts, U.S. sanctions against Iran and Venezuela, and escalating violence in Libya.

Brent futures have hit their strongest level since Q4 at +$71.34 per barrel, before easing to +$70.99 per barrel. U.S West Texas Intermediate (WTI) crude oil futures also hit a November 2018 high, at +$64.77 per barrel, before easing to +$64.42 per barrel.

Note: Brent and WTI futures have rallied by +40% and +30% since the start of the year.

Crude prices have been further lifted this week by escalating violence in Libya, a significant supplier of oil to Europe, which produced around +1.1M bpd of crude in March.

Elsewhere, Russia remains a reluctant participant in the supply cuts. It signaled yesterday it wanted to raise output when it meets with OPEC in June because of falling stockpiles. Stateside, crude oil production has risen by more than +2M bpd since early 2018, to a record +12.2M bpd.

Note: Russian oil output reached a national record high of +11.16M bpd last year.

Ahead of the U.S open, gold prices remain better bid and are hovering atop of their one-week highs as the ‘big’ dollar eased on weak U.S economic data. Spot gold is up +0.3% at +$1,300.47 per ounce. The yellow metal touched an intra-day high of +$1,303.61, highest since March 28, in the previous session. U.S gold futures are up +0.1% at +$1,303 an ounce.

3. Sovereign yields inch lower, trade, IMF in focus

Eurozone yields are a touch lower this morning, with concern about U.S/European trade tensions providing some support to safe-haven debt markets a day ahead of a ECB meeting.

Yesterday, the U.S Trade Representative proposed a list of EU products ranging from large commercial aircraft and parts (Airbus) to dairy products and wine on which to slap tariffs as retaliation for European aircraft subsidies.

Investors are also focusing on the International Monetary Fund (IMF), which it’s expected to publish its half-yearly ‘World Economic Outlook’ later this session.

Germany’s benchmark 10-year Bund yield continues to hover just below zero in early trade but is up +9 bps from a three-year low of -0.09% print in March.

Elsewhere, the yield on 10-year Treasury note has fallen -1 bps to +2.51%, while in the U.K, the 10-year Gilt yield declined -1 bps to +1.108%.

Note: Saudi Aramco, the world’s largest oil company, has received +$75B in orders for its debut bond sale.

4. Dollar looking for directional help

FX markets remain subdued as the market shifts its focus to tomorrow’s key events with ECB meeting, the emergency EU Council meeting to discuss the Brexit extension, the FOMC minutes and U.S CPI data.

GBP/USD surprisingly steady around the £1.3075 area as PM Theresa May prepares to travel to meet Chancellor Merkel and President Macron later today ahead of tomorrow’s summit that would decide on the U.K extension request. Sterling, for a brief moment, did find some support, trading through the psychological €1.31 handle after reports circulated that Germany’s Merkel was willing to put a five-year time limit on the Northern Ireland backstop. Dealers noted that such a limit would make it difficult for UK parliament to reject May’s Brexit deal.

EUR/USD is flat at €1.1270 today and is not expected to rally by much due to the threat by the U.S administration to impose tariffs on selected E.U goods in response to E.U subsidies for Airbus. However, the negative impact should be more limited and less broad-based than the threat of auto tariffs, which are a larger part of the European economy.

Elsewhere, the Japanese yen has advanced +0.1% to ¥111.35, the strongest in a week.

5. Italy retail sales rise in February after Jan increase

Data this morning from the ISTAT showed that Italian retail sales rose +0.1% in February from the month before and followed a +0.6% increase in January.

ISTAT revised up January’s data from an originally reported +0.5%.

Digging deeper, sales rose +0.9% in unadjusted y/y terms in February after a +1.2% rise in January (revised from +1.3%).

Note: The data is expressed in ‘value terms’ and are not adjusted for consumer prices, which increased +1.1% in Feb from the year earlier, based on Italy’s EU-harmonised index (HICP).

EUR/USD is showing little movement in the Tuesday session. Currently, the pair is trading at 1.1274, up 0.12% on the day. In economic news, there are no German or Eurozone events. In the U.S., the sole event is JOLTS Jobs Openings, which is expected to drop to 7.54 million. Wednesday promises to be busy. The ECB will set its monthly interest rate and release a policy statement. The U.S. will release key inflation data. CPI is expected to improve to 0.3% and Core CPI is projected to climb to 0.2%. As well, the FOMC releases the minutes of the March policy meeting.

The focus will be on central bankers on Wednesday, with key events at the ECB and the Federal Reserve. The ECB is expected to maintain interest rates at a flat 0.00%, where they have been pegged since March of 2016. Investors will be more interested in the rate statement, as a dovish message to the markets could push the euro lower. ECB policymakers have acknowledged the slowdown which has gripped Germany and the eurozone. The manufacturing sector has been particularly hard hit, as a slump in global demand has hurt exports, such as German cars and auto parts. Last week, the ECB minutes from the March meeting were pessimistic, as policymakers acknowledged that the economic outlook remained bleak. If the rate statement is a repeat performance, the euro is likely to point downward.

Investors will have to quickly shift focus from the ECB to the Federal Reserve, which releases the minutes of the March meeting. At the meeting, the Fed said it would start tapering the reduction of its balance sheet in May. This marks a loosening of policy, and comes in response to weaker economic data out of the U.S. in recent months. The minutes should be treated as a market-mover, and a dovish tone could sour investors and send the dollar lower.

Bullish sentiment dominated the common European currency against the Japanese Yen on Monday. As a result, the currency pair gained about 62 base points during yesterday's trading session.

The 50-hour simple moving average was providing support for the exchange rate during the first part of today's session.

If the support level formed by the 50-hour SMA holds, bulls could drive the EUR/JPY currency exchange rate towards a weekly resistance line at 125.73.

Although, if the pair passes the 50-hour SMA, the next downside target will be near the monthly pivot point at 125.17.

Upside sentiment dominated the Australian Dollar versus the US Dollar on Monday. The exchange rate appreciated about 0.59% in value during yesterday's trading session.

Today's trading session began with bullish momentum. By the middle of the European session, the currency pair has gained further 0.36%.

Given that a breakout had occurred, it is likely that the AUD/USD currency pair will continue its upward momentum within this session.

However, a resistance level at 0.7143 could pressure the currency exchange rate down during the following trading hours.

During Monday's trading session, the Greenback broke a junior ascending channel pattern. The currency pair edged lower by about 0.58% in value. In regards to the near-future, the US Dollar could regain some of its lost points against the Canadian Dollar.

However, the currency exchange rate needs to surpass a resistance cluster formed by the combination of the weekly and monthly pivot points at 1.3322.

Although, if the resistance cluster as mentioned above holds, the USD/CAD will continue its southern movement today. The potential downside targets for bears will be at the weekly S2 at 1.3257.

The New Zealand Dollar traded with low volatility against the US Dollar on Monday. However, a breakout occurred through the upper boundary of a descending channel pattern during the morning hours of Monday's trading session.

The exchange rate is currently stranded between the 50– and 100– hour SMAs. The 100-hour simple moving average is providing resistance for the rate, while the 50-hour moving average is providing support.

Technical indicators demonstrate that the NZD/USD currency exchange rate will continue its decline within this session.

Although, bulls could try and regain control of the pair during the following trading session.

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.12141
Open: 1.12604
% chg. over the last day: +0.32
Day's range: 1.12551 – 1.12692
52 wk range: 1.1214 – 1.2557

EUR\USD started to grow. Yesterday the quotes increased by 50 points and updated the local maximums. This is mostly caused by technical factors as the investors begin to fix their positions before the European Central Bank meeting and the EU summit. Right now the quotes are consolidating around 1.12500-1.12750, with a tendency for further growth. You should open positions from the key levels and track the relevant information regarding the US\China negotiations.

The Economic News Feed for 08.04.2019 is calm.

Job Openings and Labor Turnover Survey (US) – 17:00 (GMT+3:00);

The price fixed above 50 MA and 200 MA which points to the power of the buyers.

The MACD histogram is in the positive zone but below the signal line which gives a weak signal to buy EUR\USD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line which points to the bearish mood.

Trading recommendations

Support levels: 1.12500, 1.12300, 1.12100
Resistance levels: 1.12750, 1.13000

If the price fixes at 1.12750, expect the quotes to recover toward 1.13000-1.13250.

Alternatively, the quotes can recover toward 1.12300-1.12200.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.30350
Open: 1.30560
% chg. over the last day: +0.18
Day's range: 1.30490 – 1.30950
52 wk range: 1.2438 – 1.4378

GBP\USD stabilized next to the 1.31000 mark. The technical picture is ambiguous. Investors are waiting before the EU summit. On Wednesday, April 10, the EU will make a final decision regarding the Brexit delay, which is currently set to Friday. Keep an eye on this issue and open positions from the key levels of 1.30550 and 1.31000.

The Economic News Feed for 09.04.2019 is calm.

The indicators do not provide any signals, the price has crossed 50 MA and 200 MA.

The MACD histogram is in the positive zone which points to the bullish mood.

The Stochastic Oscillator started to leave the overbought zone, the %K line is below the %D line which points to the bearish mood.

Trading recommendations

Support levels: 1.30550, 1.30150, 1.29850
Resistance levels: 1.31000, 1.31350, 1.31900

If the quotes fix above 1.31000, expect further fall toward 1.31350-1.31500.

Alternatively, the quotes can grow toward 1.30200-1.30000.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.33819
Open: 1.33103
% chg. over the last day: -0.46
Day's range: 1.32934 – 1.33193
52 wk range: 1.2248 – 1.3664

Aggressive sales were observed on the USD/CAD yesterday. The quotes fell by 70 points. Trading instrument updated the key minimums. The demand for commodity currencies is supported against the background of positive dynamics of oil prices. At the moment, USD/CAD is testing the 1.33000. 1.33250 is the nearest resistance. The USD/CAD currency pair has the prospects to decline further. You should open positions from key levels.

The newsfeed is calm for today.

The price fixed below 50 MA and 200 MA, which points to the power of the sellers.

The MACD histogram is in the negative zone but above the signal line which gives a weak signal to buy USD\CAD

The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.33000, 1.32500
Resistance levels: 1.33250, 1.33500, 1.33700

If the price fixes below 1.33000, the price is expected to fall toward 1.32600-1.32400.

Alternatively, the quotes can grow toward 1.33500-1.33700.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 111.666
Open: 111.457
% chg. over the last day: -0.23
Day's range: 111.279 – 111.579
52 wk range: 104.56 – 114.56

USD/JPY is moving sideways. There is no single defined trend. Right now the quotes are testing the 111.300-111.150 demand zone. The resistance is at 111.550. A technical correction is possible soon. Keep an eye on the US Treasury bonds' yield and open the positions from the key levels.

The Economic News Feed for 09.04.2019 is calm.

The indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

The MACD histogram is in the negative zone and below the signal line which gives a strong signal to buy USD/JPY.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which points to the bullish mood.

Trading recommendations

Support levels: 111.300, 111.150, 110.850
Resistance levels: 111.550, 111.800, 112.000

If the price fixes above 111.300, expect further growth toward 111.000-110.800.

Alternatively, the quotes can fall toward 111.700-112.000.