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Alexander Kuptsikevich

Trump tosses dollar from highs, now move is up to ECB

The dollar remained under pressure after the Trump's criticism about the strengthening of the national currency. Despite doubts that the influence of the president's comments will be long, tactically they came out at an opportune moment, not allowing the growing index of the dollar to gain momentum after touching highs for the last year. At least for the short-term the scales turned to dollar bears, and sent DXY (Dollar Index) from the recent highs. In addition to the direct reaction of the ...

Alexander Kuptsikevich

FxPro Forex Analysis: U.S. Producer Prices increase to 7-years highs

Producer prices in the U.S. added 0.3% in June, increasing the annual growth rate to a seven-year high of 3.4%. Core Producer price index (ex food and energy) has accelerated to 2.8% YoY (also the highest rate since 2011). The increase in fuel prices is now spreading through the economy and is already pulling up prices for other categories. The expectations from tomorrow's publication of consumer prices are also likely to be increased, confirming the CPI acceleration. In theory, inflation ...

Alexander Kuptsikevich

FxPro Forex Analysis: Euro and Pound fell on weak business activity reports

The GBP weakened again because of the disappointing industrial production statistics. In May, instead of growing by 0,5% the index suddenly lost 0,4% after the sharp fall by 1.0% in April. The GBPUSD pair decreased to the minimums area at around 1.3230 shortly after the British data had been published. As the positive impact of two-year-old GBP fall is reduced, some uncertainty about Brexit becomes more and more evident in economic indicators. The series of resignations in May’s Government adds ...

Alexander Kuptsikevich

FxPro Forex Analysis: Crude oil gets closer to its turning point

The weakening of U.S. dollar after the soft data on earnings helps Crude Oil. However, in the perspective of the few months there is a stronger risk that Oil will turn to decline. The recent momentum of the dollar's setback has been caused by some improvements in the world statistics in the recent weeks. But the growth rate of the world economy is noticeably lower than a few months ago, according to PMI, and the actual introduction of tariffs between the US and China will surely become an ...

Alexander Kuptsikevich

FxPro Forex Analysis: Dollar weakens on the back of soft earnings data

The US employment report for June exceeded any possible expectations. Payroll employment increased by 213K against expected 195K, moreover, the growth in the previous month was revised from 223 to 244K. It is not necessary to worry about unemployment rate growth from 3.8% to 4.0%, as it occurred along with the growth of the participation rate from 62.7% to 62.9%. This means an increase in the amount of economically active population who have returned to labour force and intend to seek job. ...

Alexander Kuptsikevich

FxPro Forex Analysis: Investors pick up Bitcoin after its fall to $6000

The news brings a cautious hope to the crypto investors that the market will turn to the growth. According to CoinMarketCap data, the total crypto market capitalization has increased by 17% to $275 billion since the beginning of July. For the recent 24 hours, Bitcoin (BTC) grew by 5% exceeding the mark of $6,650 and reaching two-week highs. The leading altcoins follow the most famous crypto currency; however, they show a more considerable increase from 7% to 16.6%. Among top 50 altcoins, an ...

Alexander Kuptsikevich

FxPro Forex Analysis: Bitcoin breaks an important level at $6,500

Bitcoin’s fall has been the main event in the cryptocurrency market in the last 24 hours. The defacto benchmark cryptocurrency broke an important support level at $6,500. This fact, according to technical analysis, should have opened the way for further declines but that has now formed some serious resistance. During this break of support BTC felt to $6,100 but soon reversed to reach $6,500 again by Thursday morning. Now the market is trying to recover. The popular technical indicator Relative ...

Alexander Kuptsikevich

FxPro Forex Analysis: It is very likely that Bitcoin could rebound to the $ 8000-9000 level

“Bloody Sunday” cost the crypto market $50 billion of market cap. In one day its market capitalization plummeted from $ 340 billion to $ 290 billion at its lowest point. As of Tuesday, June 12, the total market cap has returned to $300 billion. Bitcoin (BTC) has grown by 1% in the last 24 hours and is trading now at around $6,900. Technical analysis had forecast that the break of the support level at $7,080 would lead to a deep and intensive decline, but it did not happen. The current downward ...

Alexander Kuptsikevich

FxPro Forex Analysis: Poor British statistics add pressure on sterling

Britain's statistics continue to indicate a slowdown in the UK economy. Today’s data showed a decline in industrial production by 0.8% during April against a forecast growth of 0.1%. The manufacturing industries, strong indicators of economic activity, lost 1.4% during the same period. The growth rate for the last year slowed from 2.9% to 1.8% and 1.4%, respectively. After such disappointing data, Sterling was subjected to a serious sale, losing 0.6% in less than two hours to trade down to the ...