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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: 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 ...

The FxPro Analyst Team

FxPro Forex Analysis: Chinese bourses falling for the third week in a row

Chinese bourses falling for the third week in a row and touching in early July levels last seen almost year ago. The recent impulse occurred after U.S. imposed duties on Chinese goods with a capacity of $50 Bln, and soon promised to expand them to $200 Bln. During this time, China's largest companies have lost more than 10% of their capitalization, according to the FTSE China A50 Index, which sagged by 12%. In total for 2017 the turnover of China and the U.S. made about $600 Bln., and investors ...

The FxPro Analyst Team

FxPro Forex Analysis: Threat of Trade wars pressure markets

Asian markets continue to suffer from fears around international trade. The MSCI ex Japan Index continued its decline falling to a two-year low due to the American legislator's adoption of a project that complicates China's buying and investing in U.S. technology. American bourses appear to be in disagreement with the current initiatives of the Administration actively trading lower for the past week. Meanwhile an important bearish signal for the American market came from the DJIA 30. On Monday ...

The FxPro Analyst Team

FxPro Forex Analysis: Bitcoin can rebound higher than $7,000

Cryptocurrency market seems returned to growth after a prolong depression. To last week lows, the crypto market cap has added 10% to $290 bln. Bitcoin trading near $6,700. The altcoins fully replicate this growth. If this rebound continues, Bitcoin could rebound above $7,000 mark. Some experts noticed that optimism has come due to SEC’s official’s announcements that Bitcoin won’t be considered as securities. The current technical situation is on the buyers’ side and technical indicator RSI ...

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: 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 ...

Alexander Kuptsikevich

FxPro Forex Analysis: Stronger IT, softer financials

High-tech lift markets Stock markets continue to strengthen with increased demand for high-tech companies. The NASDAQ100 closed a second day in a row at record levels. Asia is following this trend as early Wednesday trading is showing growth of around 0.5%. Conversely shares in the financial sector are again under pressure due to the decrease in profitability of "safe" bonds. On the currency market the dollar index decreased on Tuesday by 0.2%, EURUSD overcame 1.17, GBPUSD managed to rise above ...

Alexander Kuptsikevich

FxPro Forex Analysis: Positive mood after strong US Payrolls and an angry G7

Strong U.S. data Last Friday’s data release, of NFP, average hourly earnings and an 18 year low in unemployment, exceeded market expectations and had a beneficial effect on markets. Non-farm employment increased by 223K in May, which was significantly better than the expected 190K. This growth indicates that, after some decrease in speed at the beginning of the year, the US economy is once again gaining momentum. The annual growth rate of wages accelerated from 2.6% to 2.7%. It is not so strong ...