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| Update Time: 01 Jun 2020 08:00GMT |
INTRA-DAY GBP/USD OUTLOOK - +1.2425+ |
Cable's 'wild' swings in NY session on Fri after
rally fm European 1.2292 low to a 2-week of 1.2394
in NY morning, then selloff to 1.2291 n subsequent
bounce to 1.2359 at NY close suggests upside bias
remains n today's gain 1.2414 wud head to 1.2429.
Intra-day bounce fm 1.2377 has retained bullish-
ness n only below risks 1.2360, break, 1.2325/30.
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| Rate: |
+1.2425+ |
| Strategy: |
+Target met+ |
| Position: |
Long at 1.2385 |
| Objective: |
1.2425 |
| Stop-Loss: |
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MARKET REVIEW ON 01 Jun 2020 07:17 GMT |
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Data to be released on Tuesday :
New Zealand building permits, terms of trade, import prices, export prices, GDT price index, Australia business inventories, current account, RBA interest rate decision, Italy market holiday, UK nationwide house price index, Swiss retail sales, manufacturing PMI, France budget balance, and U.S. redbook, ISM New York index.
...
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MARKET MOVING NEWS
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All times in GMT |
| 1 Jun 2020 |
08:01 |
EUR/USD - 1.1144... Reuters reported euro zone manufacturers appear to have passed their nadir, a survey showed on Monday, but activity is still contracting sharply as government-imposed lockdowns due to the coronavirus pandemic keep demand in check.
So after crashing to its lowest reading in the s..... |
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| 1 Jun 2020 |
08:00 |
USD/MAJORS... Reuters reported China said on Monday the United States was "addicted to quitting" following Washington's decision to leave the World Health Organization (WHO) and said the withdrawal reveals a pursuit of power politics and unilateralism.
Foreign ministry spokesman Zhao Lijian told re..... |
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| 1 Jun 2020 |
07:55 |
EUR/USD - 1.1146... Reuters reported Germany's manufacturing sector continued to contract in May as factories facing weak demand because of the coronavirus pandemic laid off staff, according to a survey published on Monday that showed businesses were pessimistic about the future.
IHS Markit's final..... |
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ECONOMIC INDICATORS FOR 01/06/2020 |
All times in GMT |
| Time |
Country |
Indicator |
Actual |
Forecast |
Range |
Previous |
Revised |
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New Zealand |
Market Holiday |
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| 2230 |
Australia |
AIG Manufacturing PMI - May |
41.6 |
N/A |
N/A |
35.8 |
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| 0030 |
Japan |
Jibun Bank Mfg Idx - May |
38.4 |
38.4 |
N/A |
38.4 |
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| 0145 |
China |
Caixin Manufacturing Idx - May |
50.7 |
49.6 |
49.0/51.7 |
49.4 |
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Germany |
Market Holiday |
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France |
Market Holiday |
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| Update Time: 01 Jun 2020 07:35 GMT |
USD/JPY - 107.56 |
Despite Friday's selloff to 107.09 in Asia, subsequent strong rebound to 107.89 (New York) suggests correction from May's 108.08 peak has ended and intra-day retreat would bring choppy sideways swings before prospect of another rise to 108.35, but 108.85 should remain intact.
Only below 107.33 signals recovery is over and risks stronger retracement to 107.09 but 106.86 would hold.
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WEEKLY USD/CHF TECHNICAL OUTLOOK |
All times in GMT |
| Last Update At 31/05/2020 23:20 GMT |
| Trend Daily Chart |
Daily Indicators |
21 HR EMA |
55 HR EMA |
| Sideways |
Neutral |
0.9623 |
0.9643 |
| Trend Hourly Chart |
Hourly Indicators |
13 HR RSI |
14 HR DMI |
| Down |
Rising fn o/s |
38 |
-ve |
| Daily Analysis |
| Resumption of recent decline |
| Resistance |
Support |
0.9713 - May 21 high
0.9675 - Last Thur's Asian low (now res)
0.9650 - Last Fri's NY high | 0.9590 - May's low (1st)
0.9560 - 80.9% r fm 0.9503-0.9802
0.9503 - Mar 30 low |
| . USD/CHF - 0.9605.. The greenback remained in the back foot last week n
ratcheted lower fm 0.9735 (Mon) to 0.9647 on Tue, despite a brief bounce to 0.97
28 the next day, price tumbled on broad-based usd's weakness to 0.9602 on Fri.
. On the bigger picture, dlr's rally fm 2018 31-month trough of 0.9188 to
a 2-year peak at 1.0238 in Apr (2019) confirms downtrend fm 2016 6-year peak
at..... |
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