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Alexander Kuptsikevich

FxPro Forex Analysis: Trump Imposing Sanctions to Corner New Markets

The U.S. continues to increase its oil production and, over the past year, has grown its daily supply by over 16%, constantly setting new records. The U.S. is already the second largest producer and continues to increase its drilling activity. In light of this, it is essential for the U.S. to find new markets to export to, and Europe seems to be a promising option. Currently, Russia is a key player in this market. As such, economic sanctions appear to be a very effective tool for challenging ...

Alexander Kuptsikevich

FxPro Forex Analysis: A “Death Cross” May Not Be So Fatal for Bitcoin

According to CoinMarketCap, Bitcoin has lost more than 6.5% in the last 24 hours and is currently trading at around $6,850. It seems that $7,5K has become a serious resistance level. Since March 30, when the “death cross” chart pattern emerged, we haven’t see a rapid fall in BTC. It’s worth mentioning that, although the “death cross” pattern is often accurate, it shouldn’t be considered as a 100% signal to sell. The pattern was initially discovered in the stock market, and like any other market ...

Alexander Kuptsikevich

FxPro Forex Analysis: U.S. Exchange Rate may Become the Focus of Trade Wars

Markets are afraid that trade tariffs may shatter existing world trade rules, with finance ministers and central bank heads in efforts to formulate new rules. Previous events as well as the current situation suggest the possibility of a decision that will revolve around attempts to weaken the U.S. currency. During the last 35 years, there have been several periods during which the United States actively struggled with trade deficit. In the 1980s, the Plaza Accord occurred as a most notable ...

The FxPro Analyst Team

FxPro Forex Analysis: Analysts Hope to See Bitcoin Growth Despite Recent Drops

One of the world's largest cryptocurrency exchanges, Binance, has received a warning letter from Japan's top financial regulator, causing further declines in the market. Binance's CEO, Zhao Changpeng, said that the exchange is “engaged in constructive dialogue” with the watchdog, but his statement didn’t lead to a reverse market to growth. Snapchat has decided to join other technology giants in banning ICO ads. It seems that such measures have become a new trend at exactly the same moment that ...

Alexander Kuptsikevich

FxPro Forex Analysis: U.S. Jobless Claims Reach New Multi-Year Lows

U.S. weekly Unemployment Claims data is once again in focus. The number of Continuing Jobless Claims fell to 1,828K, the lowest level since 1973. This indicator has been fluctuating around the 1900K mark since August 2017, with the current data suggesting a breakthrough to new lows, reflecting a new stage for the U.S. labor market. The number of Initial Jobless Claims also continue to decline, having reached their lowest level since 1969 a few weeks ago. It is important to understand that the ...

Alexander Kuptsikevich

FxPro Forex Analysis: Hawkish Powell Could Affect Emerging Markets

Markets are nervous prior to the Fed meeting, with the main reason being fears that new Fed chairman Powell will adopt a more hawkish stance on rates. His predecessor, Yellen, had generally demonstrated a very cautious approach that was good for the markets. Historically, each new Fed Head usually copies the predecessor’s tactics during their first few months which, in the case of Powell, it would translate into caution in terms of action and attention to developments in global markets. ...

Alexander Kuptsikevich

FxPro Forex Analysis: Average Hourly Earnings Puts Pressure on USD Despite Strong NFPs

U.S. employment data released today shows a particularly strong February, with the NFPs coming in at 313K, a 20-month high that is more than 1.5 times higher than expected. At the same time, employment in the private sector, production and construction demonstrate the highest increase in many months. The household survey also shows an increase in the number of employees by 785K, after an increase of 409K in January. In addition, past employment data has been revised upwards, seemingly ...

The FxPro Analyst Team

FxPro Forex Analysis: Crypto Market Loses Chinese Investors due to Regulation

For the past month, the cryptocurrency market has been trading sideways due to a lack of positive triggers and regulator pressure triggering risk aversion among investors. Bitcoin is trading around $11,300, as the ten leading altcoins fluctuate between gains and losses. Bitcoin Chart A positive market momentum that was expected to follow the end of the Lunar New Year holidays has not materialised yet, while Chinese authorities are renewing their battle against cryptocurrencies, blocking access ...

Alexander Kuptsikevich

FxPro Forex Analysis: Political Populism Increases Risk of Trade Wars

Tariffs on steel and aluminum will almost inevitably cause an increase in their prices within the United States, though direct impact on consumer inflation will most likely be quite small. Yet, the Trump administration has sent out a significant message to the world. The imposed tariffs story might be a signal that the Trump administration has moved from promises to taking actions. What could trigger problems is if other administrations take similar steps, with Korea and Japan (the main US ...