Forex news for NY trading on July 31, 2018 In other markets, the snapshot shows: – Spot gold is up $2.40 or 0.2% – WTI crude oil is down -$1.40 or -2.0% In the US stock market today:
Quick look at oil while things are quiet The $70 resistance level is another one that price just keeps finding itself back at: Chart musings: – Supply factors discussed before mean each session, oil seems to get another kick.
Mini Eurozone data dump Here we go: The fallout: I see that some of you didn’t like it when I said ‘resistance is resistance until it’s not’, but it is such a good mindset to have when trading.
Potential catalyst for EUR/USD breakout or hold. Heads up on the intraday chart, it looks like we’re going to go into these releases right at daily resistance.
German and Italian unemployment A couple of relatively low impact releases – Italian Monthly Unemployment Rate: 10.9% v 10.8% expected and 10.7% previous
A ton to talk about After a massively drawn out press conference from Kuroda and the BoJ, I think it’s safe to move back on into some European session themes.
Canadian May monthly GDP data Details: – Goods producing +0.6% – Service producing +0.5% – Mining, quarrying, oil & gas +1.8% m/m and +6.4% y/y – Utilities -2.4% This was a solid report that wasn’t driven by and clear one-off. 19 of 20 industrial sectors rose while all services-producing industrial rose. The jump in mining,…
Prior quarter came in at +0.8% – Wages and salaries up 0.5% vs Q1 0.9% gain – Benefit costs +0.9% vs 0.7% in the Q1 ForexLive
June 2018 personal consumption expenditure report highlights Consumers There isn’t much to be happy about here for the dollar bulls, although the revision to the prior personal spending is a silver lining.
Canadian GDP and the US PCE report kick off the day A big data dump kicks off the North American trading data at the bottom of the hour including: The PCE report sets the stage for the start of the two-day FOMC meeting. A miss could leave a strong impression on the Fed and on…