Today's news from the US:
USD Prelim GDP q/q Is now 1.3% Expectation 1.1% Was 1.1%.
USD Unemployment Claims Is Now 229K Expectation 249K Was 225K.
The GDP and claims are higher than expected and that is positive for the Dollar. The first is the value of all new goods and services and the second number: The number of people who applied for unemployment benefits for the first time in the past week. With the second number in particular, it is important to mention that the expectation was higher than what ultimately applied for a benefit. That means there is plenty of work. This may have consequences for the interest rate that the FED will soon set.
This change directly affects Dollar pairs such as EURUSD. But it has an effect on Gold.
Oil is also going short today but that's because of concerns about demand from China, while Russia's oil minister said next month's OPEC+ meeting is unlikely to end with further production cuts. The first is value-enhancing, but the second now prevails and makes sure oil goes short.
Today we did the actions:
#GBPAUD : something to pick up today. Our rating system has the following information: +3, or a buy recommendation after adding up all categories. First, let's take a look at what institutional traders are buying or selling. We can see that the GBP has a long percentage of 54.43% and we see that the AUD has a long percentage of 31.05%. This category gets a +1, as institutional traders prefer GBP.
If we look at GBPAUD, we see that retailers are 13% long and 87% short. Currently, the GBPAUD gets a value of +1 in this category. If we look at seasonality, we get a score of +1. What this tells us is that based on historical data, this market tends to rise this month. Mind you, the next month it will be completely the other way.
Trend measurement is based on the daily chart, using the 5, 8 and 21 exponential moving average. The more "aligned" they are, the stronger the trend up or down. In this case, we have a score of +2.
Finally, let's look at the basics. GDP growth is favorable for the AUD, inflation is favorable for the AUD, unemployment is favorable for the AUD, and interest rates are favorable for the GBP. We have therefore placed a buy at 1.89620 with a target of 1.91540. We don't take much risk because there are also going to be CPI figures.
These trades are now open:
05/23/2023 2:00 PM Buy SPOTCRUDE Open 73,75 sl 72 tp 75
05/24/2023 06:10 AM EURNZD Buy Open 1.75249 Sl 1.72333 Tp 1.77341
05/24/2023 07:17 AM EURAUD Buy Open 1.63893 sl 1.61944 tp 1.65432
05/24/2023 3:31 PM USDJPY Buy Open 139.139 sl 138.14 tp 140,36
05/25/2023 09:10 AM NZDCAD Sell Open 0.8266 sl 0.8315 tp 0.82385
05/25/2023 09:13 AM GBPAUD Buy Open 1.89619 sl 1.8824 tp 1.9099
USD Prelim GDP q/q Is now 1.3% Expectation 1.1% Was 1.1%.
USD Unemployment Claims Is Now 229K Expectation 249K Was 225K.
The GDP and claims are higher than expected and that is positive for the Dollar. The first is the value of all new goods and services and the second number: The number of people who applied for unemployment benefits for the first time in the past week. With the second number in particular, it is important to mention that the expectation was higher than what ultimately applied for a benefit. That means there is plenty of work. This may have consequences for the interest rate that the FED will soon set.
This change directly affects Dollar pairs such as EURUSD. But it has an effect on Gold.
Oil is also going short today but that's because of concerns about demand from China, while Russia's oil minister said next month's OPEC+ meeting is unlikely to end with further production cuts. The first is value-enhancing, but the second now prevails and makes sure oil goes short.
Today we did the actions:
#GBPAUD : something to pick up today. Our rating system has the following information: +3, or a buy recommendation after adding up all categories. First, let's take a look at what institutional traders are buying or selling. We can see that the GBP has a long percentage of 54.43% and we see that the AUD has a long percentage of 31.05%. This category gets a +1, as institutional traders prefer GBP.
If we look at GBPAUD, we see that retailers are 13% long and 87% short. Currently, the GBPAUD gets a value of +1 in this category. If we look at seasonality, we get a score of +1. What this tells us is that based on historical data, this market tends to rise this month. Mind you, the next month it will be completely the other way.
Trend measurement is based on the daily chart, using the 5, 8 and 21 exponential moving average. The more "aligned" they are, the stronger the trend up or down. In this case, we have a score of +2.
Finally, let's look at the basics. GDP growth is favorable for the AUD, inflation is favorable for the AUD, unemployment is favorable for the AUD, and interest rates are favorable for the GBP. We have therefore placed a buy at 1.89620 with a target of 1.91540. We don't take much risk because there are also going to be CPI figures.
These trades are now open:
05/23/2023 2:00 PM Buy SPOTCRUDE Open 73,75 sl 72 tp 75
05/24/2023 06:10 AM EURNZD Buy Open 1.75249 Sl 1.72333 Tp 1.77341
05/24/2023 07:17 AM EURAUD Buy Open 1.63893 sl 1.61944 tp 1.65432
05/24/2023 3:31 PM USDJPY Buy Open 139.139 sl 138.14 tp 140,36
05/25/2023 09:10 AM NZDCAD Sell Open 0.8266 sl 0.8315 tp 0.82385
05/25/2023 09:13 AM GBPAUD Buy Open 1.89619 sl 1.8824 tp 1.9099