Personal opinions today

 

The bank of Japan announced its interest rate decision and economy outlook. Almost of traders assumed the bank of Japan keep the interest rates unchanged, continuing its zero interest rate and quantitative easing monetary policy. In the afternoon, BoJ governor Haruhiko Kuroda held a press conference, and the governor's remarks were closely watched. Comments from the governor of the bank of Japan are expected to continue the quantitative easing monetary policy, maintain a negative outlook for the Japanese economy and be negative for the yen. Conversely, positive yen.

 

Today, the market focus on the U.S. jobless claims for the week and March durable goods orders will be seen on the sidelines, supporting the dollar. But a number of recent U.S. economic data have been positive, and the dollar seems reflected. The dollar has a chance to fall if U.S. economic data is weaker than expected and there is a negative assessment of first-quarter U.S. GDP data tomorrow. European currencies, commodity currencies and gold prices are likely to rise.

 

[Important financial data and events to watch]

11:00 the bank of Japan releases its interest-rate decision and outlook

14:30 BoJ governor, Haruhiko kuroda held a press conference

20:30 U.S. jobless claims for the week ended April 20

20:30 U.S. durable goods orders in March

 

Today's suggestion :

 

EURUSD

1.1140/1.1125 support

1.1185/1.1205 resistance

The dollar is strong as markets look to the first quarter of U.S. GDP growth. Europe's economy has not strengthened significantly and Brexit has not progressed, leaving the euro weak. Technically, the resistance remains unchanged at 1.1245 and 1.1260 in EURUSD, but short-term resistance moves down to 1.1185 and 1.1205. Support bits are available at 1.1140 and 1.1125. Watch today's U.S. economic data and see if there's a chance to try out the 1.1125 support.

 

GBPUSD

1.2945/1.2965 resistance

1.2885/1.2865 support

The UK economic data did not highlight the performance, the Brexit did not make progress, the market wait and see the next two days the U.S. economic data performance, the market is expected to grow. A report tomorrow on U.S. first-quarter GDP could also limit resistance to the GBPUSD, which remains on a downward trend against the dollar. Technically, the reference support are 1.2885 and 1.2865.

 

AUDUSD

0.7005/0.6990 support

0.7050/0.7065 resistance

Australian consumer confidence index and CPI inflation were lower than market expectations, and the Australian dollar fell. The Australian dollar extended its losses against the greenback cause the expectations of a stronger U.S. economy. The Australian dollar downward on the strength of the U.S. dollar ahead of the U.S. first-quarter GDP report going well. Technically, the AUDUSD tested support at 0.7005 and 0.6990 against the U.S. dollar, with reference resistance at 0.7050 or 0.7065. A renewed round of trade talks between China and the United States next week could help the Australian dollar test its highs against the U.S. dollar.

 

USDJPY

112.35/112.55 resistance

111.85/111.65 support

The bank of Japan released its interest rate decision and outlook report today. In the afternoon, governor of the bank of Japan haruhiko kuroda held a press conference. The market watched governor of the bank of Japan haruhiko kuroda's speech and speculated on whether monetary policy would change in the future. Markets wait to see what U.S. first-quarter GDP does tomorrow, with dollar support expected and yen negative. Currently, the technical reference support level is 111.85, looking up at 112.35 and 112.55 resistance. Trade talks between the United States and China will resume next week, which could help the dollar test highs against the yen.

 

USDCAD 

1.3535/1.3555 resistance

1.3465/1.3445 support

U.S. API crude oil inventories rose sharply. In addition, the bank of Canada's interest rate decision and the governor negative comments, affecting the Canadian dollar. Also, the market expectations of the first quarter of the U.S. GDP is good, the dollar is strong. All of these factors contributed to decline in the Canadian dollar, which had seen $1.3515. Technically, the USDCAD reference resistance is 1.3535 and 1.3555, and the reference support levels are 1.3465 and 1.3445.

 

U.S. crude futures USOIL

66.05/66.35 resistance

64.75/64.45 support

U.S. sanctions on Iran, restrictions on oil exports to the country and calls for countries to stop buying Iranian crude have boosted crude prices. Technically, crude is expected to rise to $66. But in the short term, the market will have to wait and see what U.S. durable goods orders do today and U.S. first-quarter GDP does tomorrow, potentially limiting the rise in crude oil prices. In addition, it must be noted that the U.S. President criticized the rise in crude oil prices and the adjustment of crude oil prices. Note the 64.75 and 64.45 support for technical adjustments.

 

XAUUSD 

1272/1270 support

1280/1282 resistance

U.S. GDP growth in the first quarter is likely to be better than market expectations and the U.S. economy, which is positive for the dollar and negative for gold prices. In addition, U.S. corporate earnings, if better than expected, is also negative for gold prices. If the U.S. economic data performance this week is only in line with expectations, the market will digest the strong dollar, gold prices have a chance to rebound, reference resistance to the initial target of 1280 or 1282, can go up to $1285.

 

U.S. Dow Jones industrial average futures US30

26515/26425 support

26935/27125 resistance

Earnings at some U.S. companies rose higher than expected. In addition, the U.S. government intends to release the new banking regulations to boost the investment boom, the Dow once rose. But a correction from the all-time high, the market has a psychological impact on next week's FOMC meeting, limited the uptrend as well. Technically, refer to 26515 or 26425 support and 26935 and 27125 resistance.

 

BTCUSD:

5050 / 5200 resistance

4750 / 4650 support

The market is waiting for the US GDP data release on Friday and FOMC meeting next week, the bitcoin price keeps a bit lower to waiting for the data results. Technically the bitcoin price is expected below US5200; it could be test 4750 or 4650 support.

 

Enjoy trading!  The content is for reference only. Please do ensure that you understand the risk.

 

Information provided by AT Global Market, Chief Analyst of Asia Pacific: Martin Lam

Registered Australian Accountant/ Certified Professional Manager / Certified Financial Advisor Experienced Investor / Media Market Commentator Martin Lam has Over 17 years’ experience in global investment market. Familiar with the worldwide stock indices, precious metals such Gold and Silver, Crude oil and Forex. He operated Martin Currency Trading Company and had partnership with a number of well-known international financial corporations and institutions. Before he join ATFX, he was TeleTrade Greater China development and Sales Director. Mr. Lam attends Hong Kong Now TV and China CCTV finance channel once a week. He also had regularly invited by different media, such as DBC Digital Financial Channel, Hong Kong Economic Times, The Standard, Ming Pao to share his experience to trade in Forex, Precious metals, Crude oil and worldwide stock indices. 
Contact: cs.gm@atfx.com or wechat: ATFX_China

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