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[MK Amin]

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TAJUK : 23.04.2019: JPY mendapat tempat di Asia

[MK Amin]

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TAJUK : 23.04.2019: EUR NOSEDIVES, WHILE USD REACHES ITS 3-WEEK HIGH (USD, EUR, CAD)



The euro did not manage to stay on a positive side after the Easter holidays. The American session started with a major nosedive of the single currency.

The euro/dollar pair plummeted by 45 pips and slowed down at its 3-week low of 1.1210. Investors started selling the euro as the question about the Italian budget was raised again reminding of concerns regarding the possibility of a political crisis in the country.

Increasing tensions trigger the growth of demand for safe assets, including the greenback and the US government bonds. The US dollar index that reflects its strength towards other major world currencies rose to its 3-week high of 97.70. The expectations of the upcoming corporate reports from the US companies provided an additional support for the American currency.

The Dow is consolidating near its highs of 26,565 as US stock markets grow. The US assets are steadily gaining.
Besides, market players are encouraged by the macroeconomic data as well. The number of new houses sold in March in the United States excelled the reading of February by 4.5% indicating a sustainable momentum in the construction sector and consumer activity.

Traders are buying the US dollar even with the Canadian currency. The USD/CAD pair is moving upwards as well. It rose by 80 pips to 1.3420 today. Notably, increasing oil prices did not restrain investors from selling the loonie.

On the other hand, the outcome of tomorrow’s meeting of the Bank of Canada is likely to weaken the loonie’s positions even more.

[MK Amin]

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TAJUK : WHO EARNED ON FOREX 23.04.2019 15:00

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TAJUK : 23.04 .2019: WILL POUND AND EURO RECOUP RECENT LOSSES? (EUR, USD, GBP, CHF)



After the long Easter weekends, the European markets opened with no important news on tap.
Nonetheless, traders got back to work. The euro-dollar pair was trying to break through the tight trading range and rise above the level of 1.1260. Probably, the US dollar seems a less attractive investment than it was before the weekend.
Meanwhile, the pound sterling has taken a dominant position against its American counterpart. In early European deals, the British currency managed to add over 30 pips, so the GBP/USD rose above the level of 1.3010.

However, the latest fundamentals suggest that the current trend is likely to be short-lived. Geopolitical risks are intensifying, so the demand for safe-haven assets such as the US dollar may increase. Thus, the American currency has the chance to resume the rally. The United States threatens to impose sanctions on the countries that buy Iranian crude oil. In particular, China and India, the world’s biggest economies, are among these countries. Such ambitious intentions can offset the progress that has been reached in the US-China talks aimed at resolving the trade conflict.

Moreover, Iran can retaliate by shutting the strategically important Strait of Hormuz, transporting crude oil from the Persian Gulf countries.
Nonetheless, out of all safe-haven assets the US dollar is the most popular. The Swiss franc tumbled to the 2-year low against the American currency. The USD/CHF pair settled at 1.0200. However, a plunge of the franc is good news for the Swiss National Bank, as it could bolster the inflation rate.
That is all for now. We wish you profitable deals. See you on our channel in a couple of hours.

[MK Amin]

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TAJUK : 23.04.2019: JPY GAINS GROUND IN ASIA



Financial markets in the Asia-Pacific region reopened after the four-day Easter holiday. Traders are in the cautious mood digesting the latest geopolitical news about the US and Iran. Besides, officials of the Bank of Japan made comments on the agenda of the nearest policy meeting.
In the overnight trade, the dollar/yen pair slumped to a weekly low and later regained most losses. However, the price move is capped by the level of 112.00.

After the long Easter weekend, risky sentiment was setting the tone in the Japanese equity market, thus raising demand for the yen. As a result, the US dollar slightly eased in the Asian trade.
The yen gained momentum to 111.65 versus the greenback following comments from Japan’s Finance Minister Taro Aso who said that the government and regulator are mistaken in their stubborn struggle against deflation.

The dollar/yen pair will hardly arouse active buying as the economic calendar lacks important news on Tuesday. The pair is expected to trade with higher volatility ahead of macroeconomic data from the US later this week.
The AUD/USD pair broke a 100-day moving average and sank to 0.7120 which is the lowest level in almost two weeks. Traders opt for the US dollar as a safer asset.

Today yields of 10-year US Treasuries, which are viewed as a barometer of risky sentiment, shed 1 basis point to 2.579%. Investors are alert to the data of major importance from the US later this week: durable goods orders and GDP.
Inflation data from Australia is expected to reveal a modest decrease. Analysts do not rule out a slowdown in the US economic growth. Besides, traders will take notice of other reports from the US such as new home sales, house price index, and Richmond Fed manufacturing index. Investors are also monitoring the trade talks between the US and China.

The Canadian dollar has been the best performer today supported by a steady rally of oil prices. Yesterday the US announced that it would not grant waivers to buyers of Iranian oil. So, all countries importing Iranian oil will be subject to US sanctions from May 2.
The USD/CAD pair is trading higher aiming for 1.3330, 1.3310, and even 1.3280 in the short term.
Trading is unfolding quietly in post-holiday markets and the economic calendar lacks any data from the eurozone. Thus, the pound- and euro-related pairs will depend on the US dollar and Brexit news.

A series of economic data is due during the North American trade: Canada’s wholesale sales, US new home sales, and the eurozone’s consumer confidence. The American Petroleum Institute will release a weekly update on oil inventories.

[MK Amin]

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TAJUK : WHO EARNED ON FOREX 23.04.2019 9:30

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TAJUK : 22.04.2019: USD TO SHOW SHARP SWINGS (USD, CAD, BRENT)

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TAJUK : 22.04.2019: EUR MAY FALL FURTHER (EUR, USD, GBP)

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TAJUK : WHO EARNED ON FOREX 22.04.2019 15:00

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TAJUK : 22.04.2019 USD AND OIL FIND EXCUSE TO GAIN GROUND (USD, JPY, AUD)



Most currencies are trading in narrow ranges as financial markets in Europe, Australia, and Hong Kong are closed on Monday after Easter.

Trade volumes are traditionally light in post-holiday markets. Asian markets are also thin. The main market driver is an advance of the US dollar on the back of upbeat fundamentals from the US confirming growth of the US economy. On Thursday, retail sales report revealed the strongest consumer activity in 1-1/2-years in March. As a result, most of major currencies lost ground versus the US dollar. Its index rebounded to nearly 97.50.

The index received a boost from preliminary weak indicator of the eurozone’s business activity in the manufacturing sector for April. In response, the euro/dollar pair slipped to a weekly low of 1.1230 – 1.1225.
The dollar/yen pair is consolidating higher at nearly 112. Market sentiment on the pair depends on a gradual rise in US 10-year Treasury yields. Since March 5, the dollar/yen pair has not been able to climb over 112.15 – 112.20. So, this level could again act as strong resistance.

The dollar/yen pair is sensitive to a series of risky events such as Brexit, the ongoing trade talks between the US and China, and buzz about North Korea and Iran. These events could set the tone for the pair in the short term.
In the early Asia-Pacific trade, the AUD/USD pair was trading lower at near 0.7150. While markets in Australia are closed, news from the US and China could become driving forces for the currency pair.

The two largest global economies are making progress in the trade talks. Washington and Beijing are close to reaching a compromise and making a long-awaited trade deal. Buyers of the aussie dollar welcome such developments.
Meanwhile, Brent crude rallied to 74 US dollars a barrel which is a new high of the year. On Sunday, US President Donald Trump announced that buyers of Iranian oil must stop those imports, otherwise they would suffer US sanctions. China and India are the biggest consumers of Iranian oil which were granted waivers. So, the risk of deficit of crude oil is the reason behind a sharp rally in the oil market.

Today the US trading floors are back to work after the long Easter weekend. Data on existing home sales in the US is the only important report today. European markets will be open tomorrow.