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Chinese trade data due amid trade frictions; inflation data also on the horizon

Andreas Georgiou Analysis

Chinese trade numbers for the month of May are scheduled for release on Friday, with the figures perhaps attracting more interest in light of trade discussions between the US and China. Also of importance out of the world’s second largest economy, will be producer and consumer price inflation data due on Saturday. Friday’s figures are anticipated to show both exports …

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RBA to stand pat with GDP also eyed; Bank’s communication to set tone for aussie

Andreas Georgiou Analysis

The Reserve Bank of Australia will be completing its meeting on monetary policy on Tuesday, with a decision on interest rates scheduled for release at 0430 GMT. No change in rates is anticipated, with positioning on the aussie expected to be dictated by the tone given by the Bank in the statement accompanying the decision. Meanwhile, also of importance out …

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GBPAUD falls to 4-month low, looks oversold

Andreas Georgiou Analysis

GBPAUD has declined considerably after touching a two-year high of 1.8507 in late March. During Thursday’s trading, it posted a four-month low of 1.7516, while it is currently not far above that nadir. The negatively aligned Tenkan- and Kijun-sen lines serve as a testament to the negative short-term momentum that is in place. The Chikou Span, though, is signaling a …

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USDCHF hits one-month low; medium-term outlook still positive

Andreas Georgiou Analysis

USDCHF has lost 2% of its value after reaching a one-year high of 1.0056 in early May. Earlier on Thursday, the pair touched a one-month low of 0.9847. The RSI continues to fall, having crossed below the 50 neutral-perceived level. This is indicative of the bearish short-term bias that is in place. The region around the 23.6% Fibonacci retracement level …

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EURJPY hits fresh 9-month low; possibly oversold

Andreas Georgiou Analysis

EURJPY has declined considerably after posting a three-and-a-half-month high of 133.48 on April 24; it is currently trading 3.6% below that peak. Earlier on Thursday, it touched a fresh nine-month low of 127.96, after losing roughly 190 pips on Wednesday. The Tenkan-sen line remains below the Kijun-sen in support of a negative short-term picture for the pair. The Chikou Span, …

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ECB minutes in focus; euro selloff to continue?

Andreas Georgiou Analysis

The official record of the European Central Bank’s monetary policy meeting in late April will be made public on Thursday at 1130 GMT. In FX markets, it will be interesting to see whether the release can put an end to the intense selling pressure the euro has been facing recently relative to majors including the dollar, yen and the Swiss …

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UK 100 eyes all-time high; medium-term outlook increasingly bullish

Andreas Georgiou Analysis

The UK 100 index has posted an impressive rally after hitting a one-and-a-half-year low of 6,760.10 on March 26; in fact the index has advanced in every single week ever since that trough and is currently on track for an eighth straight weekly gain. The short-term bias is bullish as indicated by the positively aligned Tenkan- and Kijun-sen lines. The …

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China on the receiving end of important data; global trade and AUD also in focus

Andreas Georgiou Analysis

Chinese data on April’s fixed asset investment, industrial production and retail sales will be made public on Tuesday at 0200 GMT. Meanwhile, the aussie, which is widely viewed as a liquid proxy for China’s economy, will also be in focus as the numbers hit the markets. The currency is currently attempting a recovery versus the greenback after touching an 11-month …