*U.S. Crude Oil Inventories Rise 1.2 Million Barrels In Week Ended 1/3

Trading 08 jan 2020 Commentaire »

U.S. Crude Oil Inventories Rise 1.2 Million Barrels In Week Ended 1/3


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Dollar Mixed Following ADP Private Payrolls Data

Trading 08 jan 2020 Commentaire »

The U.S. dollar showed mixed trading against its major counterparts in the European session on Wednesday, after a data showed that U.S. private sector employment jumped more than anticipated in December.

Data from payroll processor ADP showed that U.S. private sector employment rose by 202,000 jobs in December after climbing by a substantially upwardly revised 124,000 jobs in November.

Economists had expected employment to increase by about 160,000 jobs compared to the addition of 67,000 jobs originally reported for the previous month.

The key economic data over the week includes U.S. jobless claims on Thursday and the US non-farm payrolls report on Friday.

Economists expect U.S. employment to increase by 168,00 jobs in December after an increase of 266,000 jobs in November. The jobless rate is expected to hold at 3.5 percent.

The currency strengthened against its most major counterparts earlier in the European session, as Iranian strike against US bases in Iraq forced investors to seek safe-haven assets.

The dollar declined in the Asian session amid falling U.S. treasury bond yields.

The greenback pared gains to 0.9701 against the franc, from a high of 0.9729 hit at 5:45 am ET. The greenback-franc pair has set an 8-day low of 0.9665 in the Asian session. The greenback is seen finding support around the 0.95 mark.

Extending early rally, the greenback climbed to a 6-day high of 108.82 against the yen. This followed a 3-month low of 107.65 recorded in the previous session. Next key resistance for the greenback is likely seen around the 110.00 level.

Data from the Cabinet Office showed that Japan's consumer confidence rose to its highest level in seven months in December.

The consumer confidence index rose to a seasonally adjusted 39.1 in December from 38.7 in November. Economists had expected a score of 39.5.

The greenback appreciated to near a 2-week high of 1.1111 against the euro. The pair had closed Tuesday's deals at 1.1152. The greenback is likely to face resistance around the 1.10 region, if it gains again.

Data from Destatis showed that Germany's factory orders decreased unexpectedly in November.

New orders in manufacturing fell 1.3 percent, confounding expectations for an increase of 0.2 percent. Orders had increased by a revised 0.2 percent in October.

The greenback held steady against the pound, after rising to a 2-day high of 1.3080 at 7:45 am ET. The pound-greenback pair had finished yesterday's trading session at 1.3119.

Data from the Lloyds Bank subsidiary Halifax and IHS Markit showed that UK house prices logged its fastest growth this year in December.

House prices increased 1.7 percent on a monthly basis, faster than the 1.2 percent increase in November. This was the fastest gain seen this year and exceeded the expected rate of 0.6 percent.

The U.S. consumer credit for November is due out later in the New York session.


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January 8, 2020 : EUR/USD Intraday technical analysis and trade recommendations.

Trading 08 jan 2020 Commentaire »

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Since November 14, the EUR/USD pair has been trapped within a narrow consolidation range between the price levels of 1.1000 and 1.1085-1.1100 (where a cluster of supply levels and a Triple-Top pattern were located) until December 11.

On December 11, another bullish swing was initiated around 1.1040 allowing recent bullish breakout above 1.1110 to pursue towards 1.1175 within the depicted newly-established bullish channel.

Initial Intraday bearish rejection was expected around the price levels of (1.1175).

Quick bearish decline was demonstrated towards 1.1115 (Intraday Key-level) which got broken to the downside as well.

On December 20, bearish breakout of the depicted short-term channel was executed.

Thus, further bearish decline was demonstrated towards 1.1065 where significant bullish recovery has originated.

The recent bullish pullback towards 1.1235 (Previous Key-zone) was suggested to be watched for bearish rejection and another valid SELL entry.

Suggested bearish position is currently running in profits while moving below the depicted key-zone around 1.1175.

Next bearish destination is located around 1.1110 where some bullish rejection may be anticipated. If so, another bullish pullback would be expected towards 1.1175.

On the other hand, bearish closure below 1.1110 enables further bearish decline towards 1.1060 and probably 1.1040.

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Poland Central Bank Keeps Key Rate Unchanged At Record Low

Trading 08 jan 2020 Commentaire »

Poland's central bank held its key interest rate steady at a record low on Wednesday.

The Monetary Policy Council decided to leave the key reference rate at a record low 1.50 percent, the National Bank of Poland said in a statement. The decision was in line with economists' expectations.

The previous change in the reference rate was a half-basis point reduction in March 2015.

The lombard rate was retained at 2.50 percent and the deposit rate at 0.50 percent. The rediscount rate was left unchanged at 1.75 percent.


The material has been provided by InstaForex Company - www.instaforex.com

U.S. Private Sector Job Growth Exceeds Estimates In December

Trading 08 jan 2020 Commentaire »

Reflecting strong job growth across companies of all sizes, payroll processor ADP released a report on Wednesday showing private sector employment jumped by much more than anticipated in the month of December.

ADP said private sector employment surged up by 202,000 jobs in December after climbing by a substantially upwardly revised 124,000 jobs in November.

Economists had expected employment to increase by about 160,000 jobs compared to the addition of 67,000 jobs originally reported for the previous month.

"As 2019 came to a close, we saw expanded payrolls in December," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "The service providers posted the largest gain since April, driven mainly by professional and business services."

The report said employment in the service-providing industry jumped by 173,000 jobs, as the professional and businesses services sector added 61,000 jobs.

The trade, transportation and utilities and education and health services sectors also saw notable job growth, while employment in the leisure and hospitality and information sectors edged lower.

Employment in the goods-producing industry also rose by 29,000 jobs, as an increase of 37,000 construction jobs more than offsetting the loss of 7,000 manufacturing jobs.

"Job creation was strong across companies of all sizes, led predominantly by midsized companies," Yildirmaz said.

Mid-sized companies added 88,000 jobs, while employment at small and large businesses rose by 69,000 jobs and 45,000 jobs, respectively.

On Friday, the Labor Department is scheduled to release its more closely watched monthly jobs report, which includes both public and private sector jobs.

Economists expect employment to increase by 160,000 jobs in December after spiking by 266,000 jobs in November, while the unemployment rate is expected to hold at 3.5 percent.


The material has been provided by InstaForex Company - www.instaforex.com

U.S. Private Sector Employment Jumps More Than Expected In December

Trading 08 jan 2020 Commentaire »

Reflecting strong job growth across companies of all sizes, payroll processor ADP released a report on Wednesday showing private sector employment jumped by more than anticipated in the month of December.

ADP said private sector employment surged up by 202,000 jobs in December after climbing by a substantially upwardly revised 124,000 jobs in November.

Economists had expected employment to increase by about 160,000 jobs compared to the addition of 67,000 jobs originally reported for the previous month.

"As 2019 came to a close, we saw expanded payrolls in December," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "The service providers posted the largest gain since April, driven mainly by professional and business services."


The material has been provided by InstaForex Company - www.instaforex.com

Dollar Mixed Following ADP Data

Trading 08 jan 2020 Commentaire »

At 8:15 am ET Wednesday, ADP private payrolls data for December has been released.

The greenback traded mixed against its major rivals after the data. While the greenback rose against the euro and the yen, it changed little against the pound and the franc.

The greenback was trading at 1.1114 against the euro, 108.77 against the yen, 0.9710 against the franc and 1.3100 against the pound around 8:20 am ET.


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*Poland CB Holds Key Interest Rate Unchanged At 1.50% As Expected

Trading 08 jan 2020 Commentaire »

Poland CB Holds Key Interest Rate Unchanged At 1.50% As Expected


The material has been provided by InstaForex Company - www.instaforex.com

*U.S. Private Sector Employment Jumps By 202,000 Jobs In December

Trading 08 jan 2020 Commentaire »

U.S. Private Sector Employment Jumps By 202,000 Jobs In December


The material has been provided by InstaForex Company - www.instaforex.com

Dollar Mixed Ahead Of ADP Data

Trading 08 jan 2020 Commentaire »

At 8:15 am ET Wednesday, ADP private payrolls data for December is set for release.

Ahead of the data, the greenback traded mixed against its major rivals. While the greenback held steady against the franc, it rose against the rest of major counterparts.

The greenback was worth 1.1157 against the euro, 108.71 against the yen, 0.9706 against the franc and 1.3093 against the pound as of 8:10 am ET.


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