Brent Crude Oil - bear market rally to the daily bullish reversal; 49.88 is the key (based on the article)
Daily price is on bear market rally by Senkou Span line of Ichimoku indicator to be testing for the reversal to the primary bullish market condition. If the price breaks ascending triangle pattern to above together with 49.88 resistance level on daily close bar so the bullish reversal will be started with 54.64 nearest level as the daily re-enter target; ottherwise - ranging bearish within the levels.
EUR/USD Intra-Day Fundamentals: ECB Minimum Bid Rate and range price movement
2017-07-20 12:45 GMT | [EUR - Minimum Bid Rate]
if actual > forecast (or previous one) = good for currency (for EUR in our case)
[EUR - Minimum Bid Rate] = Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system.
From official report :
EUR/USD M5: range price movement by ECB Minimum Bid Rate news event
Intra-Day Fundamentals - EUR/USD, USD/JPY, Dollar Index and Bitcoin/USD: Philadelphia Fed Business Outlook Survey
2017-07-20 13:30 GMT | [USD - Philly Fed Manufacturing Index]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - Philly Fed Manufacturing Index] = Level of a diffusion index based on surveyed manufacturers in Philadelphia.
Dollar Index M5: range price movement by Philadelphia Fed Business Outlook Survey news events
EUR/USD M5: range price movement by Philadelphia Fed Business Outlook Survey news events
USD/JPY M5: range price movement by Philadelphia Fed Business Outlook Survey news events
BTC/USD M5: range price movement by Philadelphia Fed Business Outlook Survey news events
S&P 500 - intra-day bullish breakout; 2,476 is the key (based on the article)
H4 intra-day price was bounced from Senlou Span line of Ichimoku indicator to above for the bullish area of the chart. The price is on testing with resistance level at 2,476 for the bullish trend to be continuing.
Trading the News: Canada Consumer Price Index (CPI) (based on dailyfx article)
Signs of softer-than-expected inflation may push the BoC to the sidelines as ‘very strong growth of the first quarter is expected to moderate over the balance of the year,’ and Governor Stephen Poloz and Co. may endorse a wait-and-see approach at the next meeting on September 6 as ‘geopolitical uncertainty still clouds the global outlook.’Nevertheless, stickiness in the core rate of inflation accompanied by a further expansion in household consumption may encourage the BoC to adopt a more hawkish tone as ‘the output gap is now projected to close around the end of 2017, earlier than the Bank anticipated in its April Monetary Policy Report (MPR).’ In turn, BoC officials may continue to implement higher borrowing-costs over the coming months as the central bank expect to achieve the 2% target for price growth by the middle of 2018.
Why Is This Event Important:
Canada’s Consumer Price Index (CPI) slipped to an annualized 1.3% in May from 1.6% the month prior, while the core rate of inflation held steady at 1.3% per annum amid forecasts for a 1.4% print. A deeper look at the report showed the decline was largely led by lower energy prices, with transportation costs narrowing 0.7% in May, while prices for clothing and footwear bounced back 0.5% after contracting 1.1% in April. The Canadian dollar lost ground following the softer-than-expected inflation report, with USD/CAD turning around ahead of the 1.3200 handle to end the day at 1.3268.
How To Trade This Event RiskBearish CAD Trade: Canada Inflation Report Continues to Disappoint
Bullish CAD Trade: Headline & Core CPI Exceed Market Expectations
Dollar Index - daily bearish breakdown (based on the article)
Price on the daily chart is on promary bearish breakdown by the descending triangle pattern to be broken to below together with 93.88 support level for the bearish trend to be continuing.
EUR/USD - bullish breakout; 1.1682 is the key (based on the article)
Daily price is on bullish breakout by 1.1682 resistance level to be crossing to above for the bullish breakout trend to be continuing.
Weekly Fundamental Forecast for EUR/USD (based on the article)
EUR/USD - "According to the newswires, investors latched on to a comment in the post-meeting presser with ECB President Mario Draghi where he said the QE program would be reviewed in autumn. When asked if that meant the September policy meeting, he snapped that if it did, he would have said so. Did the markets pick through a sea of dovish rhetoric to fish out the one pseudo-supportive remark on offer to justify an explosive Euro rally? Perhaps, but that explanation seems fanciful, particularly since revisiting the size of asset purchases has been largely expected in September along with a forecast update."
Weekly Fundamental Forecast for GBP/USD (based on the article)
GBP/USD - "As we came into this week, there were very legitimate bullish prospects for the British Pound, and this wasn’t necessarily a new story. Ahead of Brexit, Bank of England Governor, Mark Carney, warned that the British Pound could undergo a ‘sharp repricing’ should U.K. voters elect to leave the EU. He also warned that this could be coupled with a whole host of unsavory elements; such as slower growth and higher unemployment. Meanwhile, the ‘sharp repricing’ in the value of the British Pound could lead to unsavory levels of inflation; and this could put the bank in the unenviable position of having to choose whether to mold monetary policy to either a) support the British Pound, which could stem inflation while risking even higher levels of unemployment and even slower levels of growth, or b) support growth and employment by cutting interest rates, which could drive even more weakness into GBP, which could expose even stronger inflationary forces."
Weekly Fundamental Forecast for USD/JPY (based on the article)
USD/JPY - "The Bank of Japan (BoJ) interest rate decision has done little to alter the near-term outlook for USD/JPY, with the pair at risk of giving back the rebound from the June-low (108.80) if the Federal Reserve endorses a more gradual path in normalizing monetary policy. With Fed Fund Futures still showing a 50/50 chance for a move in December, market participants may put increase emphasis on the 2Q Gross Domestic Product (GDP) report as the growth rate is expected to pick up from the first three-months of 2017."