EUR/USD: the bearish trend has intensified in the pairThe single currency of the EU has weakened significantly, as part of the development of the downward dynamics formed the day before, and is trying to gain a foothold below the psychological mark of 1.0000, updating the minimum of the last two decades.Earlier, the European regulator stated that the course of tightening monetary policy will continue despite the high risks of a recession in the first economy of Europe – Germany, already in the coming winter. The cost of energy carriers also acts as an additional "anchor" that has every reason to provoke a full-scale energy crisis. Thus, representatives of Gazprom PJSC, which acts as a key supplier of "blue fuel" from the Russian Federation to the European markets, announced a week earlier preventive work that will last for three days, due to which the supply of gas to the EU countries will be stopped.Resistance levels: 0.9950, 1.0000, 1.0050, 1.0100.Support levels: 0.9900, 0.9850, 0.9800, 0.9750.Cryptocurrency Market OverviewAccording to information from trading platforms, last week ETH ended in the "red" zone, being influenced by the global negative background in the electronic asset market, reaching the level of 1520.00.Analysts note that the world's second most popular cryptocurrency has lost ground due to a serious decline in BTC, allowing the "bears" to seize the initiative on all major altcoins. In the short term, the asset will trade within the framework of multidirectional fluctuations in value, remaining under the influence of uncertain trends. Thus, market participants took a wait-and-see attitude, waiting for comments from the chairman of the US regulator Jerome Powell, in which further steps to tighten monetary parameters may be announced, and even an acceleration in the growth rate of the key indicator, because the consumer price index in the US, even though it showed a decline to 8.5%, is nevertheless far from the target level. The asset is supported by investors' expectations of launching the Ethereum network for new PoS (Proof-of-Stake) algorithms. The modification is scheduled for September 15-16, and in the present, the development team is working on the security of smart contacts.Resistance levels: 1750.00, 1895.00, 2030.00.Support levels: 1500.00, 1375.00, 1250.00.FTSE 100 Index OverviewThe main stock indicator of the FTSE 100 London Stock Exchange is moving within the framework of a local correction, testing the 7510.0 mark.Experts note the key publication for the UK Stock Exchange of the current week of business activity among various economic sectors. According to preliminary estimates of economists, the indicators continued to slow down, which will lead to a negative trend in the long term. The index of business activity in the manufacturing sector decreased from 52.1 points to 46.0 points, the same indicator in the services segment was adjusted from the previous 52.6 points to 52.5 points. The corporate segment was marked by a key event under the sale agreement by the telecommunications giant Vodafone Group Plc. own division in Hungary. The deal was estimated at $ 1.78 billion, which, according to some economists, is very underestimated.Support levels: 7456.0, 7200.0.Resistance levels: 7558.0, 7693.0.Oil Market OverviewDuring the Asian trading session, Brent black gold demonstrates a multidirectional movement of quotations, reaching the level of 96.50.Earlier, oil was rapidly losing ground, but by the end of trading, the asset made a successful attempt to recover losses, due to the fear of market participants regarding the onset of a crisis in the global economy. The new trading week gave the US dollar an opportunity to moderately adjust positions and move away from the local peak reached by some competitors. Meanwhile, the instrument is under pressure from confirmed information about the strengthening of its positions by Brazil and the United States in Asian countries for the supply of raw materials to their markets. With a significant probability of a further reduction in oil supplies from the Russian Federation against the background of the tough policy of EU economic sanctions, the alternative in energy supplies is becoming an increasingly important topic.Resistance levels: 97.21, 100.00, 102.57, 106.00.Support levels: 93.34, 91.00, 88.79, ...
USDJPY: dollar weakening has strengthened the yenThe Japanese currency, influenced by the general market trend, has strengthened against the American currency, allowing the USDJPY to hold at 134.45.The Japanese stock market is closed today because of the Children's Day and the Green Day holiday, so traders will return to the market only on Monday. On the eve of the weekend, the national regulator's quarterly report came out. Besides, Kazuo Ueda, the head of the central bank, said the previous day that labor remuneration in the country will grow considerably this year. The governor confirmed that Q1 2023 wage growth of 3.0% over last year's 1.9% is just the first steps and the dynamics will only increase in the future. Ueda said he hoped that investors and the public will have more confidence in monetary policy approved by the regulator, which will give the yen a positive momentum on global trading floors.Meanwhile, the U.S. currency updated monthly lows, falling to 100.800 on the USD Index following a meeting of U.S. Federal Reserve officials on monetary policy, after which the interest rate rose 0.25 percent to a target of 5.25 percent. The outlook for the Fed's further inflation response plan left investors disappointed. For example, Federal Reserve Chairman Jerome Powell would not comment further on the regulator's future actions to adjust the interest rate, but the official expressed confidence, the cycle of monetary tightening is nearing completion.Support levels: 133.10, 130.40.Resistance levels: 135.90 and 138.00.NZDUSD: the national labor market has strengthened the New Zealand currencyThe downward trend in the U.S. dollar gives the NZD/USD pair an opportunity to strengthen its positions, against the background of which the asset reached the level of 0.6248.The day before the New Zealand dollar got an additional support from the employment market statistics, which showed that the unemployment rate for Q1 remained at 3.4%, having beaten the experts estimates of 3.5%. The value stabilized thanks to a 0.8% gain in employment, well above the 0.2% for Q4 in 2022. Economic activity rose in the share to 72.0% from 71.7% in the past. This kind of economic backdrop gives the New Zealand dollar a high prospect of breaking March's peak.Resistance levels: 0.6290 and 0.6380.Support levels: 0.6190, 0.6090.Crude Oil market analysisNorth American light crude oil WTI is developing a downtrend in the area of 69.17.The correction was intensified after Turkey discovered a new field in the middle of the Gabar mountains, near the city of Jizra. Thus, the head of the national Turkish pipeline conglomerate noted that the approximate volume of raw materials of the new field exceeds 1.0 billion barrels, or 70.0 billion dollars in cash equivalent, with the ability to develop the production capacity to 100.0 thousand barrels per day, which allows calling it the largest on a national scale. Hydrocarbon production will focus primarily on foreign markets, which will make a significant adjustment to the balance of the market, because so far the Republic of Turkey has been increasing the volume of imported "black gold".Resistance levels: 71.70, 80.70.Support levels: 66.50, 60.00.FTSE 100 analysisThe key index of the London stock market FTSE 100 is showing a corrective dynamic at 7756.0. The United Kingdom stock exchange slightly decreased the growth dynamics due to ambiguous company reports and stabilization in the bond market.The day before the biggest Danish energy giant Ørsted A/S had released financial statistics according to which its revenue amounted to DKK 29.37 billion, largely exceeding analysts' expectations of DKK 18.48 billion. There was also a significant increase in earnings at the updated share price, which now stands at 4.6 kroner to last quarter's loss of 0.78 kroner.In turn, investors assessed the reporting of the largest banking institution in the Kingdom Banking Group Plc. which recorded a decline in revenue to 4.81 billion pounds to 5.0 billion in the previous quarter. Meanwhile, earnings reached £0.0331, beating analysts' estimates of £0.0212 and the previous £0.0227 for the previous quarter.Support levels: 7650.0, 7420.0.Resistance levels: 7860.0, ...
As of 11.43 Moscow time, the DAX and CAC 40 indices rose by 1.36% and 1.72%, respectively. The FTSE index rose 0.87%. The main European Stoxx Europe 600 index showed an increase of 1.1%. The leaders in the growth rate of the share price among the companies included in this index were operators engaged in food delivery. The reason for the positive on the European stock exchanges was the negotiations between the Russian Federation and Ukraine, which are taking place in Turkey. Investors hope that the participants of this meeting will be able to agree on the cessation of hostilities and the consolidation of the neutral status of Ukraine. Experts note that the military operation in this country, conducted by Russia, has caused increased volatility in the markets. In addition, it hinders the recovery of the global economy. In March, consumer confidence in the economy deteriorated in European countries amid rapidly rising inflation and fears of serious consequences of the geopolitical conflict. Indices assessing consumer confidence in Germany and France showed a significant ...
A study conducted by the American media holding S&P Global and the British institute CIPS showed that in the manufacturing sector of the UK in March there was a weakening of business activity. This was indicated by a specially calculated PMI index, which amounted to 55.5 points. In the previous month, its value was fixed at 58 points. Economists' forecast suggested a less sharp drop in the index - to 56.7 points. Nevertheless, the manufacturing PMI remained in the zone exceeding the neutral level of 50 points, which indicates an expansion of activity. At the same time, the situation in the service sector has improved. The corresponding index rose this month to 61 points from 60.5 points. Its value was better than the market estimates of 58 points. The results of the study indicate a continued increase in activity in the country, even in the face of the negative impact of Russia's military invasion of Ukraine and increasing inflationary pressure. At the same time, expectations in British business circles regarding the economic prospects have worsened, which is due to problems in supply chains, which may worsen even more in connection with the war unleashed by the Russian Federation against ...