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 11/04/2018

The head of the People's Bank of China has cut the speculations of recent days that the possible weakening of the yuan could be part of the trade wars. He also announced the greater opening of the Chinese financial market to foreign entities from June of the current year. In turn, the deputy minister of finance admitted that the reduction of customs duties on imported cars to China by Xi Jinping and other products could take place "as soon as possible". The White House said that he had noted the Chinese president's comments, but the US would like to see specific moves from the Chinese administration. In turn, Donald Trump wrote on Twitter, that the proposals of President Xi Jinping are a very good move. Thus, one can see a progress that allows overcoming the earlier fears related to the escalation of trade wars. However, only possible renegotiations of trade agreements will show how much the Chinese want to please Americans and the Chinese Americans, so the negotiations will be long and difficult. Therefore, it should not come as a surprise that the impact of this factor on the market sentiment will slightly fade and we will focus on other aspects.

Moreover, today in the morning the global investors also saw data on Chinese March CPI and PPI inflation, which fell below estimates. This is especially true of consumer inflation reading, which unexpectedly fell by 1.1% m/m, and on the yearly basis, it decelerated to 3.1%.

Let's now take a look at the USD/JPY technical picture in the H4 time frame. The bulls were too weak to break out above the technical resistance at the level of 107.48 again, so the price has fallen towards the support at the level of 106.61. This level is the lower boundary of the parallel channel line as well, so the support should be quite solid right there. However, in a case of a further breakout lower, the next technical support is seen at the level of 105.99.

analytics5acdf4cfb5b5a.jpg

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