Bitcoin Price Crashes as China’s PBOC Performs “On-Site Checks” of Major Exchanges (based on the article)
From official statement:
The People’s Bank of China Shanghai HQ, the Shanghai Municipal Finance Office and other units formed a joint inspection team to carry out site inspections on Bitcoin China, focusing on checking whether it was operating beyond its business scope, whether it was engaging in unlicensed forex, payment, financing and other related businesses; whether it engaged in market manipulation; implementing anti-money laundering, financial security risks and so on.
H4 intra-day price broke 100 SMA/200 SMA reversal area for the bearish breakdown: the price is on testing with 743 support level for the bearish trend to be continuing.
Chinese Currency: Keeping the masses happy (based on the article)
By the way, the weekly pric is still on bullish trend located above 200 period SMA: the price was bounced from 6.9867 resistance level to below for the secondary ranging within 6.98/6.78 levels.
Dollar Index Technical Analysis: daily correction within the primary bullish trend; 100.72 is the key support level to watch (based on the article)
Daily price is located above Ichimoki cloud in the bullish are of the chart: the price was bounced from 103.82 resistance level to below for the secondary ranging correction to be started within the primary bullish market condition. Descending triangle pattern was formed by the price tobe crossed for the correction to be continuing, and Absolute Strength indicator is evaluating the trend as the ranging in the near future.
EUR/USD Rally (based on the article)
S&P 500 Technical Analysis: daily ranging for direction (based on the article)
Daily price is continuing with the ranging condition within the primary bullish trend: the price is located above Ichimoku cloud in the bullish area of the chart for the ranging within 2,282 resistance level for the bullish trend to be continuing and 2,233 support level for the secondary correction to be started./
Intra-Day Fundamentals - EUR/USD, GBP/USD and NZD/USD: U.S. Producer Price Index and Advance Retail Sales2017-01-13 13:30 GMT | [USD - PPI]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - PPI] = Change in the price of finished goods and services sold by producers.
From official report:
"The Producer Price Index for final demand increased 0.3 percent in December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.4 percent in November and were unchanged in October. (See table A.) On an unadjusted basis, the final demand index climbed 1.6 percent in 2016 after falling 1.1 percent in 2015."
2017-01-13 13:30 GMT | [USD - Retail Sales]
[USD - Retail Sales] = Change in the total value of sales at the retail level.
EUR/USD M5: 54 pips range price movement by U.S. Producer Price Index and Advance Retail Sales news events
GBP/USD M5: 42 pips range price movement by U.S. Producer Price Index and Advance Retail Sales news events
NZD/USD M5: 27 pips range price movement by U.S. Producer Price Index and Advance Retail Sales news events
Weekly Outlook: 2017, January 15 - January 22 (based on the article)
The dollar was under pressure in a turbulent week that saw President-Elect Trump’s press conference. He will enter the White House in the upcoming week. In addition, we have speeches from Mark Carney and Janet Yellen, Inflation data in the UK and the US, Employment data in the UK and Australia and rate decisions in Canada and the euro-zone.
Dollar Index - "Going into the new year, the standby narrative envisioned accelerating growth and bubbling inflation powered by a hefty dose of fiscal stimulus championed by the President-elect. This would spur the Fed to adopt a steeper rate hike path. Not surprisingly, this proved to be overwhelmingly supportive for the greenback and pushed it to the highest level in 14 years."
USD/JPY - "Fresh comments from New York Fed President William Dudley, Minneapolis Fed President Neel Kashkari, Chair Janet Yellen and Philadelphia Fed President Patrick Harker may also heighten the appeal of the greenback as the 2017-voting members are scheduled to speak over the days ahead, and the group of central bank officials may endorse a more hawkish outlook for monetary policy as ‘‘the staff's forecast for real GDP growth over the next several years was slightly higher, on balance, largely reflecting the effects of the staff's provisional assumption that fiscal policy would be more expansionary in the coming years.’ In turn, Fed Fund Futures may continue to highlight bets for a June rate-hike, with market participants currently pricing a greater than 60% probability for a move ahead of the second-half of the year, but more of the same from central bank officials accompanied by another set of mixed data prints may drag on interest rate expectations and generate a more meaningful pullback in USD/JPY."
GBP/USD - "On Tuesday, we’ll finally get some element of clarity on the matter from PM Theresa May when she delivers a speech designed to lay out her plans for Britain’s execution of Brexit. Just before Christmas, Theresa May told senior Members of Parliament that she would make a speech in the new year to share those plans and strategies to ‘forge a truly global Britain that embraces and trades with countries across the world.’ This is that speech; but more recent indications from PM May have appeared to indicate that a Hard Brexit may be more likely – as she’s laid out the priorities of taking control of immigration and leaving the jurisdiction of the European Court of Justice. Notice that within those priorities is not ‘access to the single market,’ and this has many concerned that the execution of Brexit may be more acrimonious than initially-feared. But the combination of these two very relevant, yet opaque drivers for the British Pound and the U.K. can present a daunting back-drop for near-term trend identification in GBP-pairs. As such, the forecast on the British Pound will be set to neutral for the week ahead until more clarity is had on Brexit and inflationary pressure within the U.K. economy."