empty
 
 
22.10.2018 05:58 PM
Global macro overview for 22/10/2018

The announcements of fiscal stimulus in China help calm moods and provide the Shanghai stock exchange with the best session in three years. It seems that the risks associated with Italy are already in the prices, and the Brexit case may move in the right direction. The currency market keeps tight ranges of fluctuations, but it is possible to shift in line with the increase in risk appetite.

EUR climbs up across the board today with the help of falling yields on Italian debt. This is a reaction after the Moody's decision on Friday to cut Italy's rating, but the cut was only 1 degree and maintained a rating above the threshold separating the investment status from junk. The rating outlook has been changed from negative to stable, which removes the risk of further cuts. This looks good for the Rome-Brussels dispute over the shape of next year's budget. Admittedly, at the end of the week, the S&P rating agency will take its decision, but in April it confirmed the BBB rating, so now a cut of 2 degrees (to reach the junk status) is unlikely. Despite this, traders are not completely deprived of the risks associated with Italy, as they need to explain to the European Commission the breach of the rules of fiscal savings. The press reports that Rome is not going to withdraw from plans to raise the deficit to 2.4% GDP, so the global investors are still facing the perspective where the EC will order budget changes under penalty. As a result, the EUR can not completely shake off the risk premium, although for the time being it is not enough to abuse the currency.

Let's now take a look at the EUR/USD technical picture at the H4 time frame. The market has retraced 61% of the previous swing down and currently, is retracing towards the technical support at the level of 1.1445. This is an important support level as any violation of this level would lead to the test of the next support at the level of 1.1432 and even a breakout lower towards the level of 1.1409. Please notice, the negative momentum supports the shoer-term bearish bias.

This image is no longer relevant

Sebastian Seliga,
الخبير التحليلي لدى شركة إنستافوركس
© 2007-2025
كسب عائد من تغيرات أسعار العملات المشفرة مع إنستافوركس.
قم بتحميل منصة التداول ميتاتريدر 4 وافتح أول صفقة.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    انضم إلى المسابقة
  • إيداع الحظ
    قم بإيداع 3,000 دولار في حسابك واحصل على $1,000 وأكثر من ذالك!
    في يناير نحن نقدم باليانصيب $1,000 ضمن حملة إيداع الحظ!
    احصل على فرصة للفوز من خلال إيداع 3,000 دولار في حساب تداول. بعد أن استوفيت هذا الشرط، تصبح مشاركًا في الحملة.
    انضم إلى المسابقة
  • تداول بحكمة، اربح جهازا
    قم بتعبئة حسابك بمبلغ لا يقل عن 500 دولار ، واشترك في المسابقة ، واحصل على فرصة للفوز بأجهزة الجوال.
    انضم إلى المسابقة
  • بونص 100٪
    فرصتك الفريدة للحصول على بونص 100٪ على إيداعك
    احصل على بونص
  • بونص 55٪
    تقدم بطلب للحصول على بونص 55٪ على كل إيداع
    احصل على بونص
  • بونص 30٪
    احصل على بونص 30٪ في كل مرة تقوم فيها بتعبئة حسابك
    احصل على بونص

المقالات الموصى بها

لا تستطيع التحدث الآن؟
اطرح سؤالك في الدردشة.
Widget callback