MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Global macro overview for 22/12/2016

Global macro overview for 22/12/2016:

The US Durable Goods Orders data are scheduled for release today at 01:30 pm GMT. The market participants are looking for a quite substantial decrease of -4.9% on monthly basis after 4.8% increase last month. This would be the first monthly setback since June 2016. The main reason for such a sharp decline in expectations is the last week's hard data on industrial production. The manufacturing sector in the US is trying to rebound quite successfully so far, as the Markit's PMI ticked up to a 21-month high in this month's flash estimate. Will that expectations met the hard core data, we will find out just in a couple of hours.

Let's now take a look at the EUR/USD technical picture at the 4H time frame. A marginal lower low at the level of 1.0351 was made yesterday (another confirmation of an ongoing bearish trend), but the market bounced toward the immediate technical resistance at the level of 1.505. Nevertheless, the bulls were too weak to even break out above the weekly pivot at the level of 1.0481 and the market is still trading sideways just before the data release.

analytics585bbfd0c37d5.jpg

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