*BRAZIL: LULA IS THE WORKERS' PARTY PRE-CANDIDATE FOR PRESIDENT

Trading 09 juil 2018 Commentaire »

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*BRAZIL: JUDGE CONSIDERED INEQUALITY IN CAMPAIGNING IN HABEAS CORPUS TO LULA

Trading 09 juil 2018 Commentaire »

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BRAZIL: IGP-DI Rises 1,48% In June Over May

Trading 09 juil 2018 Commentaire »

Brazil's General Price Index - Internal Availability (IGP-DI) decelerated in June, rising 1.48% over May, from +1.64% in the previous monthly reading, the Getulio Vargas Foundation (FGV) said on Monday.

As a result, the IGP-DI accumulates increases of 5.45% year-to-date and 7.79% in 12 months. The IGP-DI measures the wholesale, retail and construction prices.


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*BRAZIL: ECONOMISTS PARE 12-MONTH INFLATION FORECAST TO 3.80%

Trading 09 juil 2018 Commentaire »

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*BRAZIL: IGP-DI RISES 1.48% IN JUNE OVER MAY

Trading 09 juil 2018 Commentaire »

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*BRAZIL: INTEREST RATE FORECAST FOR 2018 STABLE AT 6.50% PER YEAR

Trading 09 juil 2018 Commentaire »

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BRAZIL: Federal Justice Keeps Lula In Jail

Trading 09 juil 2018 Commentaire »

The chairman of the 4th Regional Federal Court in Brazil (TRF4), Justice Carlos Eduardo Thompson Flores Lenz, overthrew the decision of judge Rogerio Favreto, who granted a habeas corpus to former president Luiz Inacio Lula da Silva on Sunday morning. The Thompson Flores ruling kept Lula in jail.

Favreto granted the habeas corpus to Lula on an emergency basis as of Sunday. Despite being on vacation in Portugal, the first instance judge Sergio Moro questioned Favreto's ruling, arguing that the judge of the higher instance had "no jurisdiction" to take a similar decision.

The Federal Public Ministry (MPF) also filed an appeal against habeas corpus. Subsequently, Federal Justice Jolo Pedro Gebran Neto, rapporteur for Lava Jato's proceedings in the second instance, ruled that Favreto's decision had not been complied with. Favreto once again ordered Lula's release. It was then that Lenz ruled that the former Brazilian President should be kept in jail.

Lula has been imprisoned since April 7. He was sentenced to 12 years and a month in prison for corruption and money laundering, but the case is pending appeals. Lula intends to be the presidential candidate in October's election for the Workers' Party.


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BITCOIN Analysis for July 9, 2018

Trading 09 juil 2018 Commentaire »

Bitcoin has been struggling to gain momentum for the last few days above $6,500 area whereas the bias is still bullish which is expected to push the price higher towards $8,000 in the coming days. Though certain indecision and recent hack problems have deviated the current investors of the market speculators are still quite optimistic with the Bitcoin gains in the coming days. As of the current scenario, the price is residing above the dynamic levels of 20 EMA, Tenkan and Kijun line which are ready to provide support for the upcoming bullish momentum in the market but due to lower Average True Range as suggested by ATR, the bullish momentum is not observed as expected but as the price remains above $6,500 area with a daily close, the bullish bias is expected to continue.

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Fundamental Analysis of EUR/JPY for July 9, 2018

Trading 09 juil 2018 Commentaire »

EUR/JPY has quite impulsive and non-volatile with the bullish gains recently which lead the price to break above 129.50 area with a daily close. Though JPY has been struggling earlier with the economic reports but this week JPY has been quite positive with the economic results which are expected to help further bearish gain in the pair.

Today at the first phase of the ECB President Draghi's speech on recalibration of the Euro Monetary Policy stance after September this year. The speech was quite optimistic discussing the Employment growth, Unemployment Rate stability in recent months and annual growth is expected to be 2.1% in 2018 and 1.9% in 2019 and 1.7% in 2020. Though Euro is currently facing some global challenges like Trade War and BREXIT situations, overall EUR is growing consistently without much deeper pullbacks in the process. The next speech is going to be held shortly which is also expected to be hawkish for the upcoming Euro economic growth.

On the other hand, today JPY Bank Lending report showed an increase to 2.2% which was expected to be unchanged at 2.2%, Current Account report was published with a slight decrease to 1.85T from the previous figure of 1.89T which was better than expected figure of 1.18T and BOJ Governor Kuroda spoke about the economic development which was quite optimistic for further gain on the JPY side as everything is falling in as planned.

As of the current scenario, both Euro and Yen are currently quite optimistic and positive with the economic results which are expected to inject certain volatility and indecision in the market. Though certain JPY gain may be observed along the way EUR is expected to sustain its gains for the long-term.

Now let us look at the technical view. The price is currently showing certain bearish pressure in the pair now after consistent bullish momentum leading the price above 129.50 area with a daily close. The price has formed Bearish Regular Divergence in the process along with 20 EMA distance which is expected to pull the price lower towards the mean in the coming days. As the price remains above 129.00-50 area with a daily close, the bullish bias is expected to continue further with a target towards 131.50.

NEAR TERM SUPPORT: 129.00-50

NEAR TERM RESISTANCE: 131.50-132.00

BIAS: BULLISH

SHORT-TERM FORMATION: BEARISH CORRECTION

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Czech Trade Surplus Falls Sharply In May

Trading 09 juil 2018 Commentaire »

Czech foreign trade surplus decreased notably in May from a year ago on weaker exports, the Czech Statistical Office reported Monday.

The foreign trade surplus shrank to CZK 6.9 billion in May from CZK 15.1 billion in the corresponding month last year. The surplus also declined from CZK 17.5 billion in April.

Exports fell 2.6 percent year-over-year in May, while imports showed no variations.

Compared to April, both exports and imports climbed by 0.4 percent and 2.5 percent, respectively.


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