One Ladies To get Relationship in the the particular Asiatic plus the West Nations

Single ladies within Spain would like to marry Western or perhaps Philippine men seeing that marriage lovers, due to the fact these types of areas currently have different ethnicities. Most of all, the particular Russian females are now able to find content very safe matrimony companions. Plus the higher level of economical and social advantages will also be far better.

Presently, Ruskies men will not generally marry any longer. It is mainly because of financial troubles, lack of training together with unemployment. The ladies who are betrothed normally originate from significantly less intelligent individuals and now require to the costly institution. This truth will not allow them to survive perfectly. These days, almost every European person who would like to discover a hubby desires to be with a man from outside the country.

Filipina girls, on the other hand, will be thought of as service personnel or housekeepers for most aspects of the entire world. In a lot of Asian countries, Filipina women have found be considered when beautiful plus hot ladies. Filipina females have become getting married to Japanese people or even Filipino guys to whom they are simply happy to resolve lower and be hitched. Their very own wish for00 a good education, an effective career together with stability within their lives have formulated a great destination for his or her husbands.

Filipina ladies lifestyle is very different from a developed women. His or her life style is absolutely not favorable to some simple household everyday living. Their particular girls were raised in addition to nurtured by simply adult males who had been chosen because morning laborers. The ladies devote hard at the office and are also definitely not in a position to take care of their children together with elderly fathers and mothers.

So , deficiency of interpersonal abilities involving Philippine ladies will be something that should be considered when choosing a Filipino bride-to-be regarding matrimony. These days, it is no more a big trouble as the children are brought up by their parents and perhaps they are educated everything regarding being a mother together with a housewife. They could be extremely intelligent plus affectionate to each other. Most of the Filipina ladies which are solo right now are exactly the same because the daughter involving 3 decades before.

In case you go into the public status involving Philippine females, you can discover why they are now thought to be the most wonderful and even ideal searching one females on the planet. They will great and possess some sort of toned body system. Additionally , all their natural splendor is without a doubt accentuated by way of a eye makeup. Their eyebrows are very huge, the lips usually are nice their own skin area appears 10 years younger than it is actually.

The Filipina girl is usually quite hot additionally they want to dress yourself in short skirts plus high heels. Almost all of the Filipina girls have bathing having candles and even stroke gel www.dating-asian-women.org/japan/japanese-wife all around their health. These people understand how to you should the hubby create your pet look and feel loved.

Also, hitched girls coming from both males and females out of Asia and even Korea usually do not communicate Uk. Consequently , females during these countries are incredibly pleased with their culture as well as the idea that they can speak that. They can be generally happy to notify their husbands about how precisely they are, the actual think together with exactly who made all of them feel good. Betrothed ladies from these nations are incredibly happy to talk about the tradition with the husbands.

Why Everybody Is Talking About Mail Order Bride…The Simple Truth Revealed

The majority of the women have innovative educations and are generally searching for an adult responsible guy to begin a new life and perhaps a family having. On the grounds of the details provided by deliver order woman agencies, it truly is projected that between one hundred, 000 and 150, 500 women coming from several nations around the world annually signup themselves. Many women in overseas countries have an interest in a man in the usa to get married to and begin children.

For the big part, females need your own assistance to protect the holiday, unless you collision into a businesswoman who makes enough funds to deal with the particular trip. You just need to to go out and see which Japoneses women suits what you are enthusiastic about the exact same is true for her. Oriental women in search of husbands never, overall, currently have spare funds to spend.

To get a woman to relocate to your nation in spite of typically the intent of marriage it’s vital to provide evidence that there’s a reputable and significantly loving relationship relating you and your ship order bride” fiance. Ukrainian women are typically a bit more out bound than Russian ladies. Along with one of the highest alcoholism prices in the Planet, their own females accuse Russian men involving chronic cheating, and a propensity for household violence. A large number of Russian females find it fairly hard to connect in British.

The New Fuss About Mail Order Bride

You can’t obtain a women through the entire mail. In truth, it should not necessarily matter just where or the way you found the girl who will turn into your wife so long as you love the woman. Russian ladies, the majority of which can be actually inside the Ukraine, go to physical organizations to register with the site.

The Number One Question You Must Ask for Mail Order Bride

Try to be honest as soon as you speak to the men that are considering knowing you better. Many men want to try out the Japanese mail order birdes-to-be service to match the correct ladies. It’s appropriate that inside previous years men may purchase emailing addresses of women in brochures.

To help you it could better to see first what you should like in your own bride. Really, you could actually feel that eventually, you’ve identified your bride. It’s important that people enthusiastic about mail buy brides, contact the proper visitors to obtain all the details. Most of the mail order brides experience produced the most effective wives inside the Earth, choosing constant care of you. Philippine mail buy brides usually tend to like people that are job oriented and arranged.

You do not need to be able to limit you to ultimately your region. Moreover, be aware of which every country has its private ship order wedding brides websites together with you’re likely to be described as a huge selection. At the time you lock the one which you would like you can earn them returning to your house country and even live a new happily ever before life.

Endeavor to look at the testimonies of the web site which you found out. Second, at the time you sign up for the internet site, you can diagnostic their online catalogue. Within the last few years, sites for Photography equipment mail order https://mybrides.net/filipino-mail-order-brides brides experience gotten a negative reputation.

EUR/USD, EUR/NZD Chart Outlook Bearish with EUR./JPY Bottoming?


Euro Technical Forecast

  • EUR/USD technical signals hint weakness in the medium-term
  • EUR/NZD could be topping, overturning the dominant uptrend
  • EUR/JPY is facing key support with bullish reversal warnings

Trade all the major global economic data live as it populates in the economic calendar and follow the live coverage for key events listed in theDailyFX Webinars. We’d love to have you along.

EUR/USD Technical Outlook

The Euro pulled off a recovery against the US Dollar towards the latter-half of last week, but more needs to be done to find meaningful upside momentum. Taking a look at the EUR/USD daily chart below, the pair appears to have formed a Descending Triangle over the course of a month, and that is typically a continuation pattern.

Positive RSI divergence occurred in the lead-up to gains in EUR/USD this past week, hinting that momentum to the downside was fading. As such, we may be due for a retest of triangle resistance. If it holds and the Euro turns lower, there may be a good chance that the pair will retest triangle support at the lower bound between 1.1110 and 1.1132.

In the medium-term, the descending triangle may eventually pave the path to breaking out and targeting lows achieved back in April 2017. This would place support as a range between 1.0821 and 1.0852. Otherwise, if EUR/USD does push higher in the week ahead, near-term resistance appears to be at 1.1262. You may follow me on Twitter here @ddubrovskyFX for timely fundamental and technical Euro updates.

EUR/USD Daily Chart

EURUSD

EUR/NZDTechnical Outlook

Meanwhile, the Euro could be on the verge of extending gains against the New Zealand Dollar. This is because this past week EUR/NZD formed a Shooting Star candle at the peak on May 22, which is a sign of indecision. Here, negative RSI divergence is showing fading upside momentum and there has since been a couple of closes to the downside.

With that in mind, the pair could be looking at a retest of the rising trend line from late March in the week ahead. This has been guiding the pair about 5% higher since bottoming at 1.6296. Near-term support can be placed at 1.7020 which if taken out, opens the door to testing 1.6974 afterwards. If you are interested, I have also outlined a technical outlook for EUR/GBP.

EUR/NZD Daily Chart

EURNZD

EUR/JPY Technical Outlook

Against the Japanese Yen, the Euro is also facing fading downside momentum, as indicated by positive RSI divergence below. This comes at a time when EUR/JPY is within an important range of support between 122.41 and 122.99. These are the lows achieved back in May and June 2017, with recent wicks extending to 122.08. This may offer a bullish trajectory for EUR/JPY towards resistance around 123.67.

Fundamentally, something to note for downside Euro risks are the ongoing European Parliamentary Elections which may sink the currency early into the new week. If EUR/JPY brushes aside these bearish reversal warnings, that would expose the “flash crash” lows achieved back in early January. Otherwise, clearing resistance opens the door to testing the falling resistance line from early March.

EUR/JPY Daily Chart

EURJPY

* Charts created in TradingView

FX Trading Resources

— Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter





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S&P 500 Shapes Head-and-Shoulders Reversal, Pound Ends Tumble on May Resignation


Risk Trends Talking Points:

  • With a holiday weekend liquidity drain impending, risk trends led by the S&P 500 staved off a critical break into an absolute reversal
  • EURGBP put in for its first advance for the Sterling in 15 trading days on the same day PM Theresa May announces her resignation
  • Trade wars will stand as the top fundamental thematic risk next week while the EU Parliamentary election results is the most targeted

See what live coverage is scheduled to cover key event risk for the FX and capital markets on the DailyFX Webinar Calendar.

After a Full-Tilt Risk Reversal is Averted, Trade Wars Remains the Most Pressing Market Threat

The markets were perched on a technical cliff through the closing session of this past week and there were some heavy fundamental winds threatening to push us over the edge. Ultimately, however, a crisis was averted and the day of reckoning was pushed out into the future. Taking stock of our troubled positioning on the charts, the S&P 500 and Dow reflected the most overt threat to the speculative landscape. Both indices forged a strong bearish wedge break on Thursday which would in turn drive bears to the extremes of much larger head-and-shoulders support levels (‘necklines’). Below 2,800 for the S&P 500 or 25,250 on the Dow, we would have breaks on fairly overt reversal patterns. While technicals alone often fall short of charging self-sustaining momentum, it is not like we are lacking for fundamental charge to convert a spark into a full-fledged fire. Further, we have seen a general willingness across the financial system to deflate markets where value has been absent. As we wait to see whether the US indices return to their past three month range or break into a true reversal of 2019’s bullish wave, I will be keeping close track of the disparity rising out of risk assets with a traditional growth dependency. The tumble in aggregate government bond yields is my relative preferred mirror to the S&P 500 – and it is still dropping.

Chart of S&P 500 and Aggregate 10-Year Yield from Largest Gov’t Bonds (Daily)

S&P 500 Shapes Head-and-Shoulders Reversal, Pound Ends Tumble on May Resignation

As we track the threats circling the markets, there is a tendency to prioritize the most familiar risk. However, we shouldn’t lose sight of those issues that simply lack an unforeseen catalyst to sweep the markets lower. The health of the global economy and the prospect of an eventual recession remains a smoldering concern that simply awaits reignition. The May PMIs for Asia, European and the US this past week made clear we are still facing a bearish trajectory. While there are a few ancillary GDP readings due in the week ahead, this matter would more likely find its charge from an unforeseen event. Monetary policy is much the same. Through the end of the week, research from the Fed Board found that tightening by the group could risk a banking crisis for a country that has direct exposure to the US (rather than broad diversification) like much of the Emerging Markets. The true threat in my estimation is the scenario where a failed economic trajectory puts the central banks as last resorts to stave off crisis and their lack of policy tools will be made bare. Then there are political risks. The rise of nationalism isn’t just a social shift. A drive to secure faster domestic growth at the expense of trade is a way to ensure stunted global growth. Then of course there is the risk the US and Iran tipping off an active economic or even military engagement.

Chart of Crude Oil and the CBOE’s Oil Volatility Index in Red (Daily)

S&P 500 Shapes Head-and-Shoulders Reversal, Pound Ends Tumble on May Resignation

When the comparison is made from abstract theme to abstract theme, the most likely fracture in any future market calm is likely to follow trade war developments. Officially, we are not expecting the next move that materially escalates the economic burden until at least a few weeks in the future – the timeline offered by the Trump administration to their Chinese counterparts to compromise or find the steep tariff placed on $200 billion in the country’s exports to the US expand to the balance of its goods – another $300 to 325 billion depending on the estimates you rely on. Much of the deterioration in relationships over the past week has been in moves to threaten the other country’s access or supply chain – the US banning Huawei and President Xi making a not-so-subtle threat to the rare-earth materials market are designed to be provocative. In the meantime, data keeps stacking up that the trade wars are undermining growth and there is much more of that ahead.

Chart of USDCNH (Daily)

S&P 500 Shapes Head-and-Shoulders Reversal, Pound Ends Tumble on May Resignation

The British Pound Posted its First Gain in 15 Trading Days After the PM’s Resignation

For top mover this past week, it was clear that the British Pound easily earned the status. The worst performing major currency by a mile, the Sterling managed to finally earn a bounce through Friday’s session. That was a long overdue bounce from an absolutely battered major. In fact, the late-in-the-week jump for the single currency represented the first time in 15 trading days that the EURGBP slipped – ending a record-breaking run. What is ironic is that this corrective effort occurred on the day that Prime Minister Theresa May announced her resignation. She will officially relinquish her position on June 7th. And, while there are certainly plenty of people that are relieved by the political turnover, this certainly wouldn’t count as a market improvement. This is added uncertainty and markets detest the unknown.

Chart of EURGBP with 200-day Moving Average and Consecutive Candle Count (Daily)

S&P 500 Shapes Head-and-Shoulders Reversal, Pound Ends Tumble on May Resignation

As we assess the Sterling’s intent in the week ahead, it is necessary to evaluate its unusual response this past week the May update. There is no small element of ‘sell the rumor, buy the news’ to this situation. The pressure for the PM to resign had built through the week and seemed to hit a fever pitch after she sought the opposition party’s support for her frequently-rejected withdrawal bill in exchange for a second referendum vote. The latter sessions of tumble from the Pound were no doubt a reflection of the escalating probability of her imminent departure. With a deadline to her leaving, Parliament in recess this week and the new leader likely to take some time to get up to speed; it is reasonable to expect the market could curb its climb and perhaps resort to range swings. That said, this path makes the troubling ‘no deal’ Brexit outcome more likely as the new leader of the Conservative Party is likely to be more aggressive, not less. Keep an eye on the Sterling and Brexit headlines.

There is Volatility Risk for the Dollar and Loonie but Beware the Euro

Among the other currencies with fundamentally-derived market moving potential, the Dollar is perhaps the least overt in its intent. While there are some noteworthy data points – like consumer confidence and trade – the productive movement has resulted from systemic issues. Recognition of the United States’ position at the center of the trade war web is starting to sink in, but we are not yet to the point it is imminently recognizable and thereby overtly sensitive. In the absence of a deeper fundamental swell, the Greenback will likely resort to its roll as a primary counterpart to its liquid and active peers. The Canadian Dollar is more interesting for its targeted event risk. While the USCMA progress is of course important, the Bank of Canada (BOC) rate decision on tap is more reliable. The group has wavered in its policy commitment, but we haven’t see the hard turn to shilling rate cuts that we’ve seen from the RBNZ. If that is in the cards for the near future, the Loonie’s resilience will crumble.

Chart of USDCAD (Daily)

S&P 500 Shapes Head-and-Shoulders Reversal, Pound Ends Tumble on May Resignation

There is further considerable potential from the Australian Dollar and Chinese Yuan owing to trade wars as well as the Japanese Yen as wayward carry interest conforms to risk trends. However, the most remarkable potential in the FX market in my mind rests with the Euro. The world’s second most liquid currency has been carving out a trading range (on a trade-weighted basis) that is comparable only to the lulls of activity back to Summer of 2014. This is not comfort but rather anticipation. We are due results from the EU Parliamentary elections by Sunday evening. If this vote sees a significant rise in nationalist interests across Europe, it could raise the concerns over faltering collective growth that we have seen elsewhere. The more concentrated risk though would rest with the Euro itself. Nationalist interests general align or include a perspective that is anti-Euro. Even if there is no immediate pursuit of undermining the shared currency, the threat that it is a possibility under strain – say during a market wash where coordination is critical – trust in second most liquid currency will plunge. It would not be a stretch to believe a drop below parity (1.0000) for EURUSD could soon follow such an occasion. We discuss all of this and more in this weekend Trading Video.

Chart of Equally Weighted Euro Index and 20-day ATR (Daily)

S&P 500 Shapes Head-and-Shoulders Reversal, Pound Ends Tumble on May Resignation

If you want to download my Manic-Crisis calendar, you can find the updated file here.



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Oil Prices Set to Follow Global Growth Narrative Next Week


OIL PRICE OUTLOOK – TALKING POINTS

  • Oil prices cratered over 7 percent last week as rising US China Trade War tension reignites slowing global growth fears
  • A slew of economic data releases on tap next week could dictate whether or not crude oil price carnage will continue
  • OPEC production, geopolitical tensions and a weakening dollar have potential to bolster oil prices

In our last Oil Forecast we highlighted how crude price outlook hinged on the looming US China trade deal result. Since then, commodity traders have been taken aback by escalating downside risks to crude oil stemming from the deterioration in Sino-American trade relations, bleak economic data, and bulging crude stockpiles. Barring any positive developments regarding US China trade war rhetoric, crude oil prices could continue sliding over the near term as market participants wrestle with the possibility that global economic growth fails to rebound in the second half of the year as expected.

CRUDE OIL PRICE CHART: 120-MINUTE TIME FRAME (APRIL 30, 2019 TO MAY 24, 2019)

Crude Oil Price Chart Shows Decline Amid US China Trade War Tension and Slowing Global Growth

A barrage of high-impact economic data points next week spanning US, Swiss and Canadian GDP reports, German jobs numbers, inflation data out of the US and Germany in addition to China’s manufacturing PMI could very well dictate where oil prices head from here. Sentiment may remain damaged if the market-moving data fails to inspire appetite for risk and expected demand for oil which could further threaten bullish prospects.

Although, a weakening US Dollar could pose as a positive tailwind to crude oil price gains. US Iran friction heating up may also bring upside to oil prices as it would likely crimp supplies. Additionally, crude could get a boost from building speculation over extended OPEC production cuts as the oil cartel’s next meeting on June 25 in Vienna draws nearer.

– Written by Rich Dvorak, Junior Analyst for DailyFX

– Follow @RichDvorakFX on Twitter





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Gold Prices Rise as US Dollar Fails to Capitalize on Market Selloff


GOLD & CRUDE OIL TALKING POINTS:

  • Gold prices rise as yields drop in risk-off trade, US Dollar slips on PMI data
  • Crude oil prices see largest daily drop yet in 2019 on growth, trade war fears
  • Corrective risk recovery may struggle for momentum, US durables data due

Gold prices rushed higher as bond yields dropped amid deterioration in market-wide risk appetite, boosting the comparative appeal of non-interest-bearing alternatives. Haven-seeking demand for the US Dollar has constrained similar moves recently but the benchmark currency was unable to capitalize this time around as disappointing PMI data stoked Fed rate cut speculation.

Crude oil prices plunged, recording the largest one-day drop so far this year. The bellwether WTI contract fell alongside S&P 500 futures throughout the trading day, pointing to a dour turn in prevailing sentiment trends as the catalyst at work. That followed from swelling worries about the impact of a prolonged US-China trade war on global economic growth and – by extension – oil demand.

SOFT DURABLES DATA, US-CHINA TRADE WAR AND EU PARLIAMENT ELECTION FEARS MAY DERAIL MARKET RECOVERY

April’s US Durable Goods Orders data takes top billing on an otherwise quiet economic calendar through the end of the trading week. The markets’ violent reaction to yesterday’s soft PMI results may portend more of the same if this reading disappoints. As it happens, US data outcomes have tended to undershoot forecasts recently, warning about the elevated probability of just such an outcome.

Signs of weakness may sustain the risk-off drive into the weekly close, pushing oil lower still while gold extends upward. The miss will probably need to be substantial to overcome corrective flows as investors rebalance portfolios toward neutral ahead of a weekend prolonged by the Memorial Day holiday in the US. That is likely to degrade liquidity, amplifying already elevated kneejerk volatility risk.

Tellingly, futures tracking Wall Street equity benchmarks are pointing firmly higher in late Asia Pacific trade, reinforcing the sense that a retracement of yesterday’s moves is in the cards. Still, another batch of worrying headlines on the US-China trade war front, signs of eurosceptic triumph in on-going European Parliament elections, or an especially downbeat US durables report might revive liquidation.

Did we get it right with our crude oil and gold forecasts? Get them here to find out!

GOLD TECHNICAL ANALYSIS

Gold prices bounced at rising trend line support set from August 2018. Buyers now face resistance capping the upside since late February. A daily close above its outer layer – now at 1297.50 – exposes the 1303.70-09.12 area. This is followed by the 1323.40-26.30 zone. Alternatively, a move below the 1260.80-63.76 region would hit at bearish trend change and set the stage to test the 1235.11-38.00price band.

Gold price chart - daily

CRUDE OIL TECHNICAL ANALYSIS

Crude oil prices sank to support in the 57.24-88 area, setting a three-month low along the way. A daily close below this boundary targets the 55.37-75 zone next. Near-term resistance is in the 60.39-95 region, with a break above that eyeing a dense block of overlapping barriers starting at 63.59 and running to 67.03.

Crude oil price chart - daily

COMMODITY TRADING RESOURCES

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter





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Has the Euro Bottomed vs US Dollar?


EURUSD Technical Strategy: BEARISH

  • Euro struggling to extend down move below 1.11 mark vs US Dollar
  • Rising wedge pattern, RSI divergence hint a bottom may be forming
  • Daily close above 1.13 needed to neutralize near-term bearish bias

See our free trading guide to help build confidence in your EURUSD trading strategy!

The Euro was unable to find lasting downside momentum on a break of counter-trend line support set from late April lows. Prices spiked lower to test support just above the 1.11 figure against the US Dollar but fell short of securing a breakout, bouncing to retest the 1.1175-86 chart inflection region instead.

EURUSD chart - 4 hour

The bounce still looks broadly corrective and, in any case, the bounds of the dominant near-term downtrend set from September 2018 remain firmly intact. Invalidating that would now require a rally back above the 1.13 figure. Still, sellers’ inability to follow through is noteworthy as broader positioning seems conflicted.

Turning to the daily chart, the outlines of a bullish Falling Wedge formation coupled with positive RSI divergence warn that a rebound may be in the cards. As much is unconfirmed for now and the setup may yet unravel in the bears’ favor. Ongoing EU Parliament elections may be a catalyst one way or the other.

EURUSD chart - daily

A daily close above the wedge top – now at 1.1311 – sets the stage for a test above the 1.14 handle. Immediate support is at 1.1097, marked by a chart inflection point dating back to May 2017 and the wedge bottom. Pushing below that is likely to see the next downside hurdle at 1.1024, another former sticking point.

EURUSD TRADING RESOURCES

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivakon Twitter





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Gold Price Weekly Outlook – Looking to Break a Tightening Range


Gold (XAU) Price Weekly Technical Analysis

Gold Price – Is a Short-Term Rebound Building?

The medium-term technical outlook for gold remains for lower prices but within this pattern of lower highs, a short-term move higher cannot be discounted as technical indicators look set to collide. It is likely that a fundamental driver will be in charge of the next move with US-China trade wars, US-Iran tensions and ongoing global growth concerns the likely culprits. Gold has yet to move markedly to increased market risk seen this week, leaving room for a sharp ‘catch-up’ move.

Since February 20, gold has carved out a series four lower highs – the last one at $1,303.6/oz. weighing on the precious metal. This bearish pattern, while still intact, is in danger of being negated as the pattern of lower lows has been broken twice recently, albeit marginally. This combination is now trapping gold in a tightening range where other technical indicators also come into play. To the immediate upside, the downtrend and the 20- and 50-day moving averages converge between $1,282/oz and $1,286/oz. providing short-term resistance just ahead of 61.8% Fibonacci retracement at $1,287/oz. A break and close above this cluster may suggest that gold attempts to test the tight $1,301 – $1,304/oz. range. If gold closes above here, the pattern of lower highs is broken and may add to further bullish sentiment.

A tight cluster of old support levels between $1,281 and $1,276.8/oz. guards the 200-day moving average, currently at $1,270.4/oz. and trending higher. This long-term ma has already been tested and held firm at a slightly lower level on Tuesday this week. A break and close below opens the path to the 50% Fibonacci retracement level at $1,262.8/oz.

Gold (XAU) Daily Price Chart (July 2018 – May 24, 2019)

Gold

How to Trade Gold: Top Gold Trading Strategies and Tips

Trading the Gold-Silver Ratio: Strategies and Tips.

IG Client Sentimentshows that retail traders are 78.8% net-long gold, a bearish contrarian indicator. Recent daily and weekly sentiment shifts however give us a mixed trading bias.

— Written by Nick Cawley, Market Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1



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GBPUSD Rate Outlook Mired by Renewed Threat of ’Hard Brexit’


British Pound Rate Talking Points

GBP/USD trades to fresh monthly lows, with U.K. data prints doing little to influence the British Pound, and the Brexit negotiations may continue to drag on the Pound Dollar exchange rate as Prime Minister Theresa May struggles to secure a deal.

Fundamental Forecast for British Pound: Neutral

The British Pound may continue to get battered even though the economic docket stands fairly light for the last full week of May amid the renewed the threat for a ‘hard Brexit.’

Headlines surrounding Brexit may continue to shake up the near-term outlook for GBP/USD as Prime Minister May lacks support for the Withdrawal Agreement Bill, and the ongoing rift between U.K. lawmakers may keep the Bank of England (BoE) on the sidelines even though the Consumer Price Index (CPI) show the reading for inflation climbing to 2.1% from 1.9% per annum in March.

In turn, the British Pound stands at risk of facing headwinds ahead of the next BoE meeting on June 20 as the Monetary Policy Committee (MPC) insists that ‘the economic outlook will continue to depend significantly on the nature and timing of EU withdrawal,’ but the pickup in GBP/USD volatility continues to shake up market participation, with retail sentiment still stretched going into the end of the month.

GBPUSD

The IG Client Sentiment Report shows 79.8% of traders are net-long GBP/USD compared to 81.7% earlier this week, with the ratio of traders long to short at 3.95 to 1. Keep in mind, traders have remained net-long since March 26 when GBP/USD traded near 1.3210 region.

The number of traders net-long is 2.4% lower than yesterday and 6.3% higher from last week, while the number of traders net-short is 9.9% higher than yesterday and 16.8% higher from last week. It remains to be seen if the rise in GBP/USD interest will persist going into the final days of May, but the extreme reading in net-long position suggests the retail crowd is still attempting to fade the decline in the Pound Dollar exchange rate as it trades to a fresh monthly low (1.2605).

Keep in mind, the tilted in retail interest offers a contrarian view to crowd sentiment especially as GBP/USD snaps the bullish trend from late-2018, with the Relative Strength Index (RSI) highlighting a similar dynamic.

Sign up and join DailyFX Currency Analyst David Song LIVE for an opportunity to discuss potential trade setups.

GBP/USD Rate Daily Chart

GBPUSD

The broader outlook for GBP/USD is no longer bullish as the exchange rate snaps the upward trend from late last year after failing to close above the Fibonacci overlap around 1.3310 (100% expansion) to 1.3370 (78.6% expansion).

As a result, the advance from the 2019-low (1.2373) may continue to unravel, with a break/close below the 1.2610 (23.6% retracement) to 1.2640 (38.2% expansion) region opens up the Fibonacci overlap around 1.2370 (50% expansion) to 1.2440 (50% expansion).

Will keep a close eye on the RSI as the oscillator pushes into oversold territory, but a move back above 30 may foreshadow a rebound in GBP/USD as the bearish momentum abates.

Additional Trading Resources

For more in-depth analysis, check out the 2Q 2019 Forecast for GBP/USD

Are you looking to improve your trading approach? Review the ‘Traits of a Successful Trader’ series on how to effectively use leverage along with other best practices that any trader can follow.

Want to know what other currency pairs the DailyFX team is watching? Download and review the Top Trading Opportunities for 2019

— Written by David Song, Currency Strategist

Follow me on Twitter at @DavidJSong.



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Trade War Weighs on Chinese Tech Stocks, Emerging Markets


Trade War Weighs on Chinese Tech Stocks, Emerging Markets:

Trade War Weighs on Chinese Tech Stocks, Emerging Markets

Chinese equities have faced significant pressure this week after the US-China trade war took a turn into the technology sector. With Huawei under fire from the United States, both US and Chinese tech stocks have displayed weakness as investors weigh the risk of retaliation alongside the immediate impact to the industry. Outside the direct hit to Huawei, component providers ranging from Microsoft to Micron have had their outlooks altered. The impending product ban has seen domestic tech stocks trade lower alongside their Chinese counterparts, weighing on the Shanghai Composite and by extension – emerging markets.

Chinese Large Caps Suffer

Trade War Weighs on Chinese Tech Stocks, Emerging Markets

Chinese internet provider Baidu is among the largest losers, trading 13% lower since July 2018 when the initial tariffs were placed on China. Tencent and Alibaba have also fallen under pressure and are responsible for a sizable portion of the EEM emerging market ETF. The two Chinese tech companies are the first and second largest holdings of single stocks in the EEM ETF at 4.79% and 4.08% respectively. According to iShares, China accounts for 31.37% of the EEM ETF

Trade War Weighs on Chinese Tech Stocks, Emerging Markets

With that in mind, the weight commanded by a few Chinese heavy-weights has translated to weakness in the emerging markets ETF, EEM, which is down -6.8% since July 2018. The FXI ETF, which tracks the 50 largest Chinese stocks traded on the Hong Kong Stock Exchange, has faced a similar fate – down roughly -7%.

Shanghai Composite Overlaid with Large Cap Chinese Stocks and the Emerging Markets ETF

Trade War Weighs on Chinese Tech Stocks, Emerging Markets

Interestingly, the Shanghai Composite has been able to climb during the same timeframe, up 2.8% since July 1. That said, it could be argued that large-cap Chinese stocks have born the brunt of the trade war impact as they have greater exposure to the United States and are thereby responsible for the Shanghai Composite’s lackluster return and the weakness in emerging markets. However, when looking at the return for other highly-weighted EEM members, South Korea is an even more egregious laggard.

S&P 500 Overlaid with the Relative Performance of Single-Country Funds to the EEM ETF

Trade War Weighs on Chinese Tech Stocks, Emerging Markets

Although it is not directly in the crosshairs, equity performance would suggest South Korea has been hit in the crossfire of the US-China trade war. A slump in semiconductor demand and deteriorating economic data has seen the EWY ETF, a fund that grants exposure to South Korean equities, trade -18.2% lower in the year-to-date.

Further, the EWY offers the worst relative performance to the EEM ETF when compared to other highly weighted countries. Given its proximity and degree of trade with China, South Korea is likely feeling the pain of slowing Chinese growth – which could accelerate as the trade war drags on.

In the week ahead, further commentary on the trade war will be offered by the release of US advance goods trade balance on Thursday alongside the second print of US GDP. Also, due next week is Chinese manufacturing data on Friday. A poor print could see the weakness in Chinese stocks become more widespread and reflected in the Shanghai Composite, as much of the FXI ETF is made up of technology and financial stocks.

–Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: Will the Stock Market Crash in 2019?

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