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Daily-forex-signal-malaysia-report-04Dec2018
1. Iforex Market Insight
EPIC RESEARCH MALAYSIA
INTERNATIONAL CURRENCY BUZZ
ECONOMIC CALENDAR
GBP/USD & EUR/USD HOURLY CHART
2. www.epicresearch.myIforex Market Insight By Epic Research Malaysia
Iforex Market Insight
Date– 04 Dec
INTERNATIONAL CURRENCY BUZZ
Forex - Dollar Lower as U.S.-China Trade Truce Spurs Risk Rally
Forex - GBP/USD bulls trying to defend 1.2700 handle ahead of US ISM PMI
Forex - EUR/USD under pressure near 1.1330 ahead of ISM, Fedspeak
GBP/USD
EUR/USD
The demand for the Euro currency stays subdued at the beginning of the week, moti-
vating EUR/USD to leave behind earlier tops and retreat to the 1.133/2 band. Sellers
emerged around daily highs in the 1.13 region and forced spot to abandon that area
and retreat to lows in the 1.133/2 zone, where some decent support appears to have
emerged. In the meantime, the initial optimism in the riskier assets following the US-
China 90-day trade truce has almost evaporated, putting that universe under re-
newed downside pressure. Ahead in the day, the always-critical ISM Manufacturing is
due along with speeches by FOMC’s Quarles, Brainard and Williams. Earlier in the
session, FOMC’s VP R.Clarida said the Fed’s ‘dots plot’ is not going anywhere, while
Dallas Fed R.Kaplan urged caution when comes to further rate hikes. At the moment,
the pair is up 0.17% at 1.13 and a breakout of 1.14 would target 1.14 en route to
1.14. On the flip side, the next support emerges at 1.12 and finally 1.11.
The GBP/USD pair remained heavily offered through the early North-American ses-
sion, with bears still awaiting a decisive break below the 1.2700 handle. The pair wit-
nessed a sudden turnaround since the early European session and drifted into nega-
tive territory for the third consecutive session, retreating over 120-pips from an in-
traday high level of 1.2825. The downfall lacked any obvious catalyst and occured
despite stronger than expected UK manufacturing PMIprint for Nov., though persis-
tent Brexit uncertainties seemed to be one of the key factors continuing to dent sen-
timent surrounding the British Pound. Meanwhile, the US Dollar recovered a part of
the early steep decline, led by the latest optimism over the US-China trade truce, and
further collaborated towards aggravating the selling pressure. Adding to this, possi-
bilities of some technical selling below the 1.2725 support exerted some additional
downward pressure and dragged the pair to its lowest level since late-Oct.
3. Iforex Market Insight
Date– 04 Dec
www.epicresearch.myIforex Market Insight By Epic Research Malaysia
Time Cur. Event Forecast Previous
ECONOMIC CALENDAR
Tuesday, December 4, 2018
03:15 CHF CPI (MoM) (Nov) -0.1% 0.2%
04:15 GBP BoE Gov Carney Speaks
04:30 GBP Construction PMI (Nov) 52.5 53.2
Tentative NZD GlobalDairyTrade Price Index -3.5%
10:00 USD FOMC Member Williams Speaks
13:00 GBP MPC Member Vlieghe Speaks
16:30 USD API Weekly Crude Oil Stock 3.453M
19:30 AUD GDP (YoY) (Q3) 3.3% 3.4%
19:30 AUD GDP (QoQ) (Q3) 0.6% 0.9%
20:45 CNY Caixin Services PMI (Nov) 50.7 50.8
5. EPIC RESEARCH MALAYSIA
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