LimitMarkets

LimitMarkets Aug 9, 2019

Dow traded lower on Friday amid new fears over the global trade. Stocks tumbled following the Bloomberg report that the US is delaying on permitting US companies to use Huawei products. Trump reiterated that the US is not going to do business with Huawei. On the other side, USDA reported a considerable fall in China's imports of crops. Investors are rushing in...

LimitMarkets Aug 9, 2019

Disappointing data from the UK dragged the Pound to the fresh lows. A second-quarter GDP contracted by 0.2% relative to the previous quarter. Year-on-year it came lower at 1.2%. It is the first quarter contraction in six years, indicating a possible recession. Manufacturing production also contracted. On the other side, employment change came far more negative in...

LimitMarkets Aug 9, 2019

Aussie rebounded on improved risk sentiment. The pair retraced to 38.2% of a rise since end-July. RBA governor Lowe spoke indicating slow growth but a strong labour market. However, the unemployment rate has increased to 5.2%. Policymaker mainly focused on experts and to support it the interest rates must go down. The export-dependent country could be caught up in...

LimitMarkets Aug 9, 2019

The pound hit again the two and a half year low against the yen Friday. Losses came as the probability of no-deal Brexit increases. New PM Johnson said the exit will happen on October 31 no matter what, rising the potential for substantial further losses. Sterling remained the worst-performing G10 currency in each of May, June and July. Investors are allocating...

LimitMarkets Aug 8, 2019

Aussie extended gains after it spiked on a surprise 50 basis point interest cut by the RBNZ. Investors are now waiting for RBA monetary policy statement and Governors' speech. Data from China came positive. Exports rose by 3.3% in July, way more-than-expected. CPI and PPI data are due today. RSI advanced to an overbought area. Dovish RBA and rate cut could cause a...

LimitMarkets Aug 7, 2019

Aussie plunged amid deteriorated risk sentiment and increased expectations over an RBA rate cut in the next meeting. The pair hit the multi-year low as demand for haven currencies boosted. The half a percentage point rate cut by RBNZ early Wednesday prompted expectations of a next rate cut by the RBA. The ongoing trade spat proved to weigh hardly on the global...

LimitMarkets Aug 7, 2019

Kiwi plunged as RBNZ unexpectedly slashed its benchmark rate by half a percentage point. Bank's Governor Orr and his policy committee signalled even further cuts as global outlook worsens and if inflation keeps far from the central bank’s goal. Expectations now pressured and Aussie as investors believe their central bank will act similarly. Kiwi breached below the...

LimitMarkets Aug 7, 2019

Bitter trade dispute underpinned gold to the highest level since April 2013. Fading hopes for the trade deal, Fed rate cut expectations and Mideast crises boosted the demand for the bullion. Far from 50 MA Gold is testing psychologically important 1500 level with RSI surging in an overbought area.

LimitMarkets Aug 7, 2019

Euro is back on the defensive amid the rising demand for haven yen. Intensifying rhetoric between Washington and Beijing dampened hopes for this year’s trade deal. More tit-for-tat tariffs have the potential to escalate in a global recession. Weighing on the single currency, a poor industrial output contracted in Germany more-than-expected with data showing a 1.5%...

LimitMarkets Aug 7, 2019

Euro eased against the Canadian dollar after posted gains in four consecutive sessions. Canadian Dollar suffered from the ongoing trade tensions as the price of oil hardly fell on the increased global demand worries. However, the largest bloc's economy, Germany showed the plunge in industrial production by 1.5% in July. Ivey PMI is due today. Stronger oil due to...

LimitMarkets Aug 6, 2019

Kiwi rebounded on better-than-expected unemployment change as Monday data showed. Still pressured by the ongoing trade spat it is expected to weaken further after the RBNZ meeting. Investors expect the central bank to cut its interest rate by 25 basis points to 1.25% after it left unchanged in June meeting. On the other side, the loonie is expected to be supported...

LimitMarkets Aug 6, 2019

Aussie ended 11-days of consecutive losses against the US dollar after RBA decided to leave its benchmark rate unchanged at 1.0%. It was the longest losing stroll in a decade. After RBA cut rates in June and July meeting, futures investors are now pricing October cut to 0.75%. Moreover, for the first time, the Australian 10-year government bond rates dropped...

LimitMarkets Aug 6, 2019

Pair holds steady after haven franc soared to the highest since end-June 2017 in the previous session. Moslty pressured by falling bond yields, franc benefited and has best performed among peers. The only possibility of preventing franc to appreciate further is the SNB intervention. ECB is widely expected to take easing measures in the next September meeting....

LimitMarkets Aug 6, 2019

Canadian Dollar posted gains against the US dollar as oil prices went positive amid the falling crude stocks expectations. However, heightening trade rhetoric does not benefit loonie as it weighs on the commodity demand. Last week it fell as data showed Canadian exports dropped 5 percent. On Monday, mixed US data about service sector failed to support the US...

LimitMarkets Aug 5, 2019

Euro is hovering near all-time high against the pound. The pound plunged as PM Boris Johnson senior advisor commented there is no means to prevent a no-deal Brexit at this moment. Meanwhile, the euro advances as the US dollar dipped. Planty of UK data on the agenda in the coming week which could provide a bit of support for the sterling. Services and Composite PMI...

LimitMarkets Aug 5, 2019

Swiss Franc hovers around multi-month highs as demand for safe-haven currency boosted with the latest Sino-US trade headlines. A month-long trade truce ended with the US President Trump threatened to impose 10% of additional tariffs to $300 billion worth of Chinese imports. China fought back sanctioning US agricultural imports of state companies. The yuan fell to...

LimitMarkets Aug 5, 2019

Dax plunged Monday amid new escalation in the trade spat between the two largest economies. The trade-sensitive index posted losses for a fifth straight session after a month-long trade truce ended Friday. Trump threatened with the additional 10% of tariffs on Chinese imports and China retaliated and devalued its currency in order to offset the effects of the US...

LimitMarkets Aug 5, 2019

Chinese retaliation and breaching a month-long trade truce supported gold to a six-year high. The US threated with additional tariffs on $300 billion of worth Chinese imports and China responded with halting US agricultural imports. Moreover, weak US monthly jobs data rose expectations over the second Fed fund rate cut. Adding to the global anxiety, Iran seized...