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Main » 2019 » May » 2 » Trading Ideas Forex traders today 02/05/2019: American US stock market in the red zone.
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Trading Ideas Forex traders today 02/05/2019: American US stock market in the red zone.

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The US stock market is in the red zone. On the eve of USA500 index after an attempt to consolidate above 2950 points, down, to ask for support from 2900. Day minimum at this point was 2915. The catalyst for the sales made by the comments of Fed Chairman Jerome Powell, noting that it is satisfied with the current level of interest rates. Such a statement has surprised market participants who had expected that the decline in inflation and the constant criticism of the US president, Donald Trump, has repeatedly called on the Fed to lower interest rates, will cause the regulator to mitigate the monetary policy.

 

 

AMarkets

 

 

The pressure on the stock market has provided statistics from the US, as weak data worsened expectations regarding the growth prospects of the US economy. Posted on Wednesday, April Purchasing Managers Index (PMI) for the manufacturing sector of the US, calculated by Institute for Supply Management (ISM), pointed to the slowdown in manufacturing activity growth. Also disappointed and report on the index of the acceleration of inflation, appeared on multi-month lows. In addition, market participants prefer not to overestimate the positive news on the progress of negotiations between the US and China, which, judging by recent comments of US Treasury Secretary Steven Mnuchina and US Trade Representative Robert Laythayzera already close to completion. Any negative associated with this topic, risks leading to a significant sell-off in the stock market, especially when you consider that the USA500 index is near historic highs. Many traders simply chose to withdraw from the transaction to the moment until the situation becomes clearer. Taking this into account, the decline of the US stock market may well continue.


USA500 SellStop 2920 TP 2800 SL 2950


After another one trading session oil futures continue to consolidate in a narrow range of $ 71-72. On the other hand, the longer the oil remains in such a state, the more intense will be the next move. On the eve of market participants watched data on US oil inventories change. According to the report Energy Information Administration (EIA) US Department of Energy, last week of oil reserves in the states up to 9.9 Mill. Barrels. Traders and analysts polled by The Wall Street Journal, expected growth of stocks by 900 th. Barrels. The day before, the American Petroleum Institute (API) reported a weekly increase in inventory of 6.8 million. Barrels. In addition, EIA report showed growth in US oil production to a new record level of 12.3 million. Barrels per day. Despite the fact that such a background of more than contributed to the development of downward momentum, its effect was completely neutralized by the results to a Reuters poll, according to which OPEC oil production in April fell to a 4-year low due to reduced oil production in Iran, Venezuela and Saudi Arabia. Recall that due to the reduction in oil production in the key oil-producing regions of oil market has grown since the beginning of 2019. Now, more often heard talk about that the transaction will be + OPEC curtailed early due to a forced necessity of the pact members to increase production in order to prevent shortage of supply against the backdrop of new US sanctions against Iran. It is worth noting that in this scenario, oil quotes risk leave much below $ 70 per barrel. Venezuela and Saudi Arabia. Recall that due to the reduction in oil production in the key oil-producing regions of oil market has grown since the beginning of 2019. Now, more often heard talk about that the transaction will be + OPEC curtailed early due to a forced necessity of the pact members to increase production in order to prevent shortage of supply against the backdrop of new US sanctions against Iran. It is worth noting that in this scenario, oil quotes risk leave much below $ 70 per barrel. Venezuela and Saudi Arabia. Recall that due to the reduction in oil production in the key oil-producing regions of oil market has grown since the beginning of 2019. Now, more often heard talk about that the transaction will be + OPEC curtailed early due to a forced necessity of the pact members to increase production in order to prevent shortage of supply against the backdrop of new US sanctions against Iran. It is worth noting that in this scenario, oil quotes risk leave much below $ 70 per barrel. The transaction is OPEC + will be phased out early due to a forced necessity of the pact members to increase production in order to prevent shortage of supply against the backdrop of new US sanctions against Iran. It is worth noting that in this scenario, oil quotes risk leave much below $ 70 per barrel. The transaction is OPEC + will be phased out early due to a forced necessity of the pact members to increase production in order to prevent shortage of supply against the backdrop of new US sanctions against Iran. It is worth noting that in this scenario, oil quotes risk leave much below $ 70 per barrel.


UKOIL SellLimit 72,20 TP 68,20 SL 72,90


Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author trader analyst Artem Deev company AMarkets.

 

 

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