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19.08.2019 - 13.08.2019
USD is weakening against GBP but is strengthening against JPY and EUR.
This week, the GBP/USD pair was corrected upwards, supported by a number of positive economic data from the UK. The increase in Average Earning (by 3.9%) and Retail Sales (by 3.3%) continues to positively affect the British economy, which is under severe pressure from Brexit uncertainty. Also, the political factor supports GBP.
The number of permits for new construction issued by the government is a leading indicator in the real estate market. The data above the forecast strengthen the USD, and the data below the forecast affect the national currency negatively. It is predicted that the July, the figure will grow from 1.232 million to 1.270 million permissions.
Yesterday, the EUR/USD pair was corrected to two-week lows around 1.1078 (Murrey [3/8]). Comments by the head of the Federal Reserve Bank of St. Louis James Bullard and US President Donald Trump supported USD. Bullard in an interview with Fox Business News noted that the inverted yield curve should remain for a certain period to be taken as a “bearish” signal.
Yesterday, Cisco shares fell 8.6%, renewing the 6-month low amid the publication of the report for the fourth quarter of fiscal 2019. Adjusted earnings per share were $0.83 with revenue growth of 6% YoY to $13.4 billion, higher than Wall Street expected. At the same time, the issuer's quotes were pressured by a poor forecast for the current quarter, which was caused by a slowdown in the Chinese economy.
Exxon Mobil shares lost more than 7% after the publication of Q2 2019 report on August 2, renewing a 7-month low yesterday. At the moment, the issuer's quotes are trading with a premium of 2.7% to the December 52-week low. Earnings per share and revenue decreased to $0.73 and $69.06 billion, respectively, exceeding market expectations.
The NZD/USD pair continues to trade within a downtrend. The price is in the negative zone of the Murrey trading range, fixed below 0.6470 ([6/8]) around 11-month lows (0.6425).
On the 4-hour chart, the formation of a sideways trend continues, the instrument moves within the channel formed by the boundaries of Bollinger bands. The MACD histogram is in the positive area, keeping a signal to open long positions, the signal line moves horizontally. Stochastic is in the neutral zone, the oscillator lines are pointing downwards.
This week, the cryptocurrency market has declined significantly. Currently, Bitcoin is trading at 9800.00 (–16.3%), Ethereum at 180.00 (–19.1%), Ripple at 0.2540 (–19.7%), Bitcoin Cash is near 300.00 (–13.6%), and Litecoin is around of 73.00 (–24.4%). The total market capitalization decreased from $295 to $260 billion. Bitcoin's market share fluctuated around 68.5%.