August 2016

Real gross domestic product (GDP) rose 0.6% in June, essentially offsetting an equivalent decline in May. Mining, quarrying and oil and gas extraction, manufacturing and utilities were the major contributors to the increase. Goods-producing industri…

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Private sector employment increased by 177,000 jobs from July to August according to the August ADP National Employment Report Payrolls for businesses with 49 or fewer employees increased by 63,000 jobs in August, down from 68,000 in July. Employmen…

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“Sentiment toward UK assets has improved, helped by a range of anecdotal and high frequency data that suggest the near-term hit to the UK economy may have been less than many feared. These have centred on retail spending, tourism and manufacturing orders. The news on housing has been less positive. Mortgage approvals for house purchases were weaker last week and there are reports of reduced asking prices and weak activity. The sector is also slowing following a front loading of purchases ahead of changes to buy-to-let and stamp-duty.

We believe that the impact of the Brexit vote will be a slow-burn as a combination of weaker investment and real incomes growth on higher inflation is gradually felt. Political noise may rise on Parliament’s return on September 5th. We may get more on the timing of Article 50 and priorities for fiscal policy at the Autumn Statement.

We maintain our negative bias while spot is below 1.35 and expect resistance at 1.3372″.

Copyright © 2016 RBS, eFXnews™

Keep in mind that banks are big market makers so when a bank recommends a trade it may also want to attract liquidity in that particular asset. It may signal that something is going to happen with that pair and a move is about to start. Fundamental factors can be interpret in so many ways and for the most of the time fundamentals are already priced in. The only thing that count is what the chart tells you through periods of accumulation or distribution.

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EUR/USD Offers : 1.1150 1.1165 1.1180 1.1200 1.1225-30 1.1250 1.1280 1.1300 Bids : 1.1120 1.1100 1.1080 1.1050 1.1030 1.1000 GBP/USD Offers : 1.3120 1.3135 1.3150 1.3180 1.3200 1.3235 1.3250 1.3280 1.3300 Bids : 1.3080 1.3065 1.3050 1…

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Global macro overview for 31/08/2016:Another Crude Oil Inventories data are scheduled for release today at 02:30pm GMT. Global investors expect the stockpiles to drop to the level of 1310k barrels from 2501k barrels a week ago. The recent statements fr…

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Since our previous analysis, Gold has been trading sideways at the price of $1,314.00. According to the 1H time frame, I found upward correction in progress but be careful since I expect further downward continuation. The short-term trend on Gold is do…

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There is not too much emotions on the Warsaw market today, both the activity and volatility seem to be subordinated to the core markets. We had a clear example of this in the course of an attempt to stabilize the German DAX, which coincided with the i…

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Global macro overview for 31/08/2016:Another set of data from the US jobs market is scheduled for release today. However, the August nonfarm payrolls are considered to be the next test for the dollar’s rise. The NPF report is scheduled for release on F…

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