Bitcoin dropped below $7750 for the first time since March 19. Today, the price fell to $7400 dollars - breaking through support around $7750, the level for which we had certain hopes. Thus, the market marked the intention to move lower to the next local bottom in the $5920 area. During the last hours of today's trading session, sale volumes increased at all cryptocurrency exchanges, and sales volumes in the US futures market probably affected the market as well. It is interesting that during the last trading sessions in the Bitcoin futures market, the largest CME futures exchanges recorded high volumes and according to the CME's public data, the main futures volume is the volume for sale.

Initially, it was assumed that the launch of bitcoin futures on CME exchange is a positive fact, as it was expected that this would lead to an increase in volumes and an increase in the liquidity of the global cryptocurrency market. Of course, the launch of Bitcoin futures led to improved liquidity of the market. However, although market volumes have increased, the futures market may have had a negative impact on cryptocurrencies. Over the past few months, large institutional funds have obviously taken up short positions in the main cryptocurrency market.

Further, some of the factors mentioned in the media, such as the ban on advertising cryptocurrency in Twitter and Facebook, had an impact on the price of the market as well. Both platforms have banned the use of cryptocurrency ads because of the increase in aggressive advertising initial coins offerings (ICO). The vast majority of ICOs turned out to be either unsuccessful projects or pure fraud. At the same time, as a whole, we cannot fail to note the negative coverage of the cryptocurrency markets in the media in recent weeks.

We keep the conviction that Bitcoin will begin to recover by the end of the year, and once again demonstrate a strong rally. Once the market shows signs of growth, it is clear that speculative hedge funds and simply speculators will be able to drive the market up to the levels of last year's highs. Now what is left to do is to wait until the market reaches the local February bottom in the $5900 zone.

FortFS

GOLD

Gold prices were lower in Asian hours on Thursday, with fresh economic data in the US and the EU eyed.

On the Comex division of the New York Mercantile Exchange, gold futures were down 0.18 percent at $1.328.60 a troy ounce as of 06:50 GMT.

The yellow metal ended Wednesday’s session with a sharp decline as market players moved away from gold amid an strengthening US dollar.

Overnight, the US dollar index added more than 0.80 percent to trade around 89.71, a five-day peak, with upbeat economic data offering support, as well as an improving market sentiment.

The US Commerce Department said the gross domestic product (GDP) rose to an annual growth rate of 2.9 percent, above a prior revision of 2.5 percent and a 2.7 percent rate seen.

The US dollar index, which measures the greenback against six major currencies, was trading 0.01 percent lower at 89.61 by the time of this writing.

Also contributing to the downturn of gold were reports indicating that North Korean leader Kim Jong Un pledged to denuclearize the Korean peninsula. Xinhua news agency said an unofficial meeting between President Xi Jinping and Kim took place in Beijing.

President Donald Trump, who is expected to meet Kim in the near future, recognized that positive steps are being taken in order to guarantee a full denuclearization of the region.

“Received message last night from Xi Jinping of China that his meeting with Kim Jong Un went very well and that Kim looks forward to his meeting with me,” Trump tweeted.

On the data front, Fed’s favorite inflation measure - the core PCE price index - is scheduled for release at 12:30 GMT. Data will come along with personal spending for February. Michigan University will release consumer expectations and sentiment surveys for March at 14:00 GMT.

OIL

Oil prices were mixed on Thursday midday trading hours, with market participants weighing a rise in US crude inventories and production, while speculation about a potential extension of OPEC-led output cuts in 2019 provided support.

The US West Texas Intermediate crude contracts were up 0.12 percent to $64.46 per barrel as of 12:10 GMT. Meanwhile, Brent futures dropped 1.64 percent to $68.37 a barrel.

The US Energy Information Administration said Wednesday that crude supplies increased by 1.6 million barrels in the last week to 429.95 million barrels. Analysts had estimated a 0.2 million barrels reduction for the previous week.

The report also showed a build in crude production to an all-time high of 10.43 million barrels per day last week, which places the US above OPEC’s de-facto leader Saudi Arabia.

Crude benchmarks have faced increasing pressure in the last few months on expectations that higher US oil production could derail OPEC and Russia’s efforts to rebalance the market.

Earlier this week, the American Petroleum Institute estimated an increase in crude stockpiles by 5.3 million barrels for the week ended March 23. API and EIA data often differ.

Ahead in today’s session, investors await Baker Hughes’ weekly oil rig count as of 17:00 GMT. The report will be published a day earlier than the usual as tomorrow markets will be closed in observance of Good Friday Holiday.

FortFS

Asian equity indexes were mixed on Thursday, with some locations being able to ignore Wall Street’s weak dynamic on expectations upcoming economic reports will improve sentiment.

In Japan, the Nikkei 225 added 0.50 percent to 21,036. Pharmaceuticals stocks came under pressure following a slump of Takeda Pharmaceutical shares by more than six percent as the company said it was "a preliminary and exploratory stage" over a potential bid for British drugmaker Shire.

Australia’s ASX 200 index ended 0.62 percent lower at 5,862.60, with materials and commodity-related stocks contributing the most to the down move. Financials capped losses.

In South Korea, the Kospi rose 0.71 percent, with technology, banking and manufacturing sectors falling in early trading hours. However, heavyweight Samsung Electronics recovered.

Hong Kong's Hang Seng Index traded up 0.18 percent at 30,076 by the time of this writing tech giant Tencent easing near one and a half percent. AAC Technologies - an key Apple supplier - traded in red.

Apple stocks plunged in the US after Goldman Sachs analysts forecasted lower iPhone sales this month. They also continued to reduce their price target on the stock, now at $159 per share.

In China, the Shanghai composite was up 1.24 percent and the Shenzhen composite followed with a 1.18 percent.

Wall Street’s top three indexes were again down on Wednesday, with the Nasdaq dropping for a second straight session as heavyweights Amazon, Netflix and Apple continued to fall. The Dow ended 9.29 points lower at 23,848.42, while the S&P 500 eased 0.3 percent to 2,605.

<<< Next in Europe >>>

Germany’s unemployment change and rate for March are due at 08:00 GMT. The CPI is next at 12:00 GMT. In the UK, business investment for the fourth quarter 2017, current account and the gross domestic product are up at 08:30 GMT.

<<< Next in the United States >>>

Fed’s favorite inflation measure - the core PCE price index - is scheduled for release at 12:30 GMT. Data will come along with personal spending for February. Michigan University will release consumer expectations and sentiment surveys for March at 14:00 GMT.

<<< Next in Asia >>>

Japan’s jobs/applications ratio for February will be available at 23:30 GMT. Tokyo’s core CPI for March will be out at the same time. Twenty minutes later, market players will count on February’s industrial production, with a 4.2 percent reduction seen.

FortFS

Monday

Asia: China’s manufacturing PMI for March is due for release as of 01:45 GMT.

United States: Markit’s manufacturing PMI for March will be out at 13:45 GMT. The ISM will release its own PMI for March fifteen minutes later, with a 60.0 points reading seen.

Tuesday

Europe: German retail sales for February are expected to be released at 06:00 GMT. Analysts are forecasting a 0.9 percent advance. Markit Economics will present its PMI for March in Germany at 07:55 GMT, in the UK at 08:30 GMT and for the Eurozone as of 09:00 GMT.

Wednesday

Asia: China’s Caixin services PMI for March is due at 01:45 GMT.

Europe: The UK construction PMI for March will be published at 08:30 GMT. Later on, attention will move to Eurozone’s consumer price index for March, which comes along with the unemployment rate at 09:00 GMT.

United States: it’s employment week! ADP will release at 12:15 GMT its employment change figures for March, with an estimated jobs build of 205,000. Factory orders are up at 14:00 GMT, together with ISM non-manufacturing PMI for March. Markit’s services PMI is due at 14:45 GMT.

Thursday

Europe: Germany’s factory orders for February will be released as of 06:00 GMT. Two hours later, Eurozone’s Markit services PMI will be out. The German reading on the index is due 55 minutes later, while in the UK it will be out at 09:30 GMT. The bloc’s retail sales are expected at 09:00 GMT.

United States: trade balance figures for February is up at 12:30 GMT.

Asia: Japan’s household spending for February will become available at 23:30 GMT.

Friday

Europe: Germany’s industrial production for February is scheduled at 06:00 GMT.

United States: the Labor Department will present March employment report, including average hourly earnings, nonfarm payrolls, participation rate and the unemployment rate. Economists estimate the following results: 0.2%; 203,000; 195,000 and 4.0% respectively.

FortFS

With a new statement on the transition of its main office to the crypto-favorable territory of Malta, the Binance Exchange is negotiating with local banks to launch trading tools of cryptocurrency / fiat money. It seems that the exchange also intends to win the competition with Coinbase exchange and take a dominant position on the global cryptocurrency market.

Binance is one of the largest crypto exchanges in terms of daily trading volume in crypto markets. Founded in 2017, Binance has more than 5 million active users. Binance is particularly popular in Asia and especially in China. Over the past few months, Binance has achieved some successes that have led to the growth of the client base, its business and market trust in the exchange. However, despite these successes, the last weeks turned out to be negative for this exchange. Reports that the Japanese regulator did not welcome the work of the exchange with Japanese citizens brought down the bitcoin market last week. The reason is trivial, the absence of an appropriate license from the regulator.

Recently, Binance announced its intention to open a new office in the Mediterranean jurisdiction of Malta. It is interesting enough to draw an appropriate parallel with historical development of FOREX industry. It seems that for the time being the young crypto business will follow the path of its elder brother, the FOREX currency market. At the dawn of the explosive growth of interest in FX trading, the largest FOREX brokers also opened branches and offices in the Mediterranean Sea countries of Malta and Cyprus.

It is characteristic that the appeal to the island as a progressive territory for the crypto currency and the financial industry as a whole occurred after Binance received a warning from the Japanese financial authorities.

As far as we can judge, a small European country, Malta very much welcomes such a decision of the crypto exchange. This is evident from the welcoming tweet of the prime minister, Joseph Muscat. Malta intends to help Binance create a service for fiat money/cryptocurrencies exchange that will allow to buy the digital currency directly using US dollars or any other currency. In the current scenario, transactions are possible only as a cryptocurrency for cryptocurrency. This would place Binance at the level with the largest crypto exchange Coinbase, which provides the same trading services, but has a slightly larger daily trading volume.

In the Bitcoin market, Tuesday trading is quite. After the decline of the last days, the market dropped to the local minimum area of ​​$7,750. This is the second approach of this level for the last month. Now the intrigue is whether the market will hold at current levels and go to rebound, or negative movement will continue with the decline down $5,920 - the next local minimum.

FortFS

Stock indexes in Asia were mainly higher on Tuesday following a rebound in Wall Street as concerns over a potential trade war between China and the US continued to ease.

Hong Kong's Hang Seng Index closed in green territory, adding 0.86 percent on the back of gains seen in the technology and telecommunications sectors.

Mainland benchmark Shanghai composite rose 1.05 percent, with the Shenzhen composite following that same trend gaining 1.04 percent in the session.

Tokyo’s Nikkei 225 benchmark ended 2.65 percent higher, adding 550 points to 21,317. All sectors of the broader Topix Index edged up, pushing the benchmark 2.74 percent higher.

In South Korea, the Kospi was also trading in green territory, rising 0.61 percent at 2,452.06. Heavyweight names such as Samsung Electronics and Hyundai Motors offered support.

In Australia, the ASX 200 closed 0.72 percent higher despite gold producers were down for the day as easing tensions in the political front boosted interest for risky assets.

In the previous session, market sentiment turned around the corner after the Wall Street Journal reported the US and China are holding negotiations to avoid a trade war.

On this matter, Treasury Secretary Steven Mnuchin said Monday he remains “cautiously hopeful” that the United States would come to an agreement with China to avert tariffs on at least $50 billion of Chinese goods.

“We’re having very productive conversations with them, [...] when discussing talks with China. “I’m cautiously hopeful we reach an agreement.”

<<< Stock Indexes >>>

Australia ASX S&P +42.30 +0.72% 5,943.70

Shanghai Composite +32.93 +1.05% 3,166.65

Nikkei 225 +551.22 +2.65% 21,317.32

TSEC 50 Index +146.74 +1.35% 10,986.79

<<< Europe >>>

EU’s business and consumer survey for March at 08:00 GMT. Also, Eurozone’s business climate, consumer confidence, consumer inflation expectation and selling price expectations for March are all due for release as of 09:00 GMT.

<<< United States >>>

In today’s session, the S&P/CS HPI Composite - 20 n.s.a. for January is due for release as of 13:00 GMT, with a forecasted year-over-year rate of 6.1 percent.

The Conference Board will present its consumer confidence indicator for March at 14:00 GMT, with 130.0 points eyed. No relevant news were released on Monday.

FortFS

GOLD

Gold prices were lower in Asian hours on Tuesday, with data shifting to fresh economic reports scheduled ahead in the American session.

On the Comex division of the New York Mercantile Exchange, gold futures were down 0.16 percent at $1.352.80 a troy ounce as of 06:50 GMT.

The yellow metal rose to a more than six-week peak as the dollar extended to the downside despite easing worries about the prospect of a trade war between the US and China.

The US dollar index, which measures the greenback against six major currencies, was trading 0.10 percent higher at 88.69 by the time of this writing.

According to US news outlets, the US and China have started a process of negotiation to water down the discussion of import tariffs that could potentially damage both sides.

China has allegedly taken into consideration a US request to reduce tariffs on US cars, a boost on purchases of semiconductors and a greater freedom for American financial companies to operate in the Asian country.

“As for the risk of a broader trade dispute, we think the odds here remain low as well, [...] Europe has been exempted much like the President exempted Canada and Mexico from the steel and aluminium tariffs a few weeks ago," Morgan Stanley wrote in a note to clients.

In today’s session, the S&P/CS HPI Composite - 20 n.s.a. for January is due for release as of 13:00 GMT, with a forecasted year-over-year rate of 6.1 percent.

The Conference Board will present its consumer confidence indicator for March at 14:00 GMT, with 130.0 points eyed. No relevant news were released on Monday.

OIL

Crude oil prices were higher on Tuesday early trading hours, supported by rising concerns that tensions in the Middle East could impact on oil production levels.

The US West Texas Intermediate crude contracts were up 0.44 percent to $65.84 per barrel as of 06:50 GMT. Meanwhile, Brent futures added 0.27 percent to $70.31 a barrel.

The possibility that the Trump administration will move forward with a series of sanctions against Iran, limiting Tehran’s ability to sell crude in international markets lifted prices.

Also contributing to the upward momentum were Saudi Arabia remarks over a potential OPEC+Russia extension of output cuts in 2019. Iraq has already shown support for the idea.

American production has already risen by almost a 25 percent since mid-2016, to 10.4 million barrels per day (bpd), moving above Saudi Arabia and keeping a short distance from Russia.

Supporting crude markets were also hopes that China and the United States will solve their differences and avoid a trade war that could potentially damage both economies.

Ahead in the day, traders await the release of crude inventory estimates by the American Petroleum Institute as of 20:30 GMT.

Last week, the US Energy Information Administration reported a reduction of 2.6 million barrels for the week ended March 2.6, compared to an estimated 2.6 million barrels gain.

FortFS

So it seems that Japanese are not only good turning raw fish into tasty overpriced pieces of art called sushi. Exactly, they also make fantastic cars and quartz watches. But there is more: have you heard of “Ichimoku Kinko Hyo”?

If you are trading for a few months already, you might have heard or read something about it. The fact is “Ichimoku Kinko Hyo” or simply “Ichimoku” is not the kind of stuff you want to deal with when you are still trying to figure out what SMA stands for.

This Nippon-borned technical indicator is mainly used to measure momentum with future areas of support and resistance. There are five components that integrate it: tenkan-sen, kijun-sen, chinkou span, senkou span A and senkou span B.

The main advantage of this technical indicator is that it can save you valuable minutes. Ichimoku translates as “one look”, which outlines the idea behind this analysis tool: taking one single look to determine support, resistance and momentum.

I know… it might look a bit too complicated, but believe it or not, once you crack into it, information will flow smoothly and you’ll laugh of how easy to read graphics actually are:

Tenkan-sen: It is calculated by adding the highest high and the highest low of the nine prior periods and then dividing the total by two. As a result you get a line that acts as a support and resistance level, but also as a signal line for potential reversals.

Kijun-sen: It is calculated by adding the highest high and the lowest low of the past 26 sessions and dividing that number in half. The resulting line is a support and resistance level, and can also be used to validate a change of a particular trend.

Chickou Span: The chickou span is the current period's closing price plotted 26 days back on the chart. This line is used to show possible areas of support and resistance.

Senkou Span A: It is calculated by adding the tenkan-sen and the kijun-sen, dividing that by two, and afterwards plotting the result 26 periods ahead. That line is a limit of the kumo (cloud).

Senkou Span B: It is calculated by adding the highest high and the lowest low of the past 52 sessions, dividing that in half, and then plotting the result 26 periods in advance. That’s the other limit of the kumo, which serves to identify support and resistance levels.

FortFS

The beginning of the new week starts on reduced volumes for crypto-currencies after a calm weekend. Last weekend, the main crypto markets held at current levels, for bitcoin this is area around $8,350, for ethereum this is a round mark in the region of $500.

In addition to some small digital currencies, most of the major cryptos, such as Bitcoin or Ethereum, recorded a slight decline in value in the middle of the European session on Monday.

Bitcoin price fell from $8,345 to $8,100, slightly more than 1 percent. Over the past 24 hours, daily trading volume for bitcoin amounted to 4.5 billion dollars, which is three times more than the ethereum.

However, an interesting situation is emerging today in the Ethereum market. Ethereum lost second place in terms of trading volumes to digital currency Tether. In fact, Tether is a cryptocurrency that hedges other currencies and the value of USD dollar. When risk-off trade mode is observed in the cryptocurrency market, and major cryptocurrencies decline, most players do not transfer into dollars or other fiat currencies, but move into Tether. Thus, on Monday, the volume of trading Tether amounted to 1.4 billion dollars.

Tether is a kind of indicator that should be taken into account when assessing the state of the digital market. Often the anomalously high daily trading volume of Tether means instability in the crypto-currency market and an increase in the number of players who temporarily withdraw from digital assets and hedge their risks in that currency.

A few days ago, CCN news agency quoted the words of Binance CEO, who said that trading volumes were gradually returning to most digital exchanges. Nevertheless, compared with the beginning of March, when the bitcoin price reached a local maximum in the region of $ 11,700, the volume of bitcoin trades and other basic crypts, such as Ethereum, remain rather low.

FortFS

GOLD

Gold prices were lower in Asian hours on Monday, with economic data and the US dollar expected to shape demand for the metal in the near term.

On the Comex division of the New York Mercantile Exchange, gold futures were down 0.27 percent at $1.346.20 a troy ounce as of 06:50 GMT.

The yellow metal ended last week at its highest level in five weeks, as market participants ran into safe-haven assets on rising concerns over a potential trade war between the US and China.

For the week, gold futures closed at $1,349.90 a troy ounce, adding 2.9 percent. Last week’s performance was the best weekly turnout in nearly a month.

On Thursday, US President Donald Trump signed a memorandum in order to implement import tariffs to Chinese products for a volume of about $60 billion.

The tariffs largely focus on technology sector goods and were intended to penalize China for, according to the Trump administration, stealing intellectual property.

The Chinese government responded almost immediately with a list of 128 US products that could potentially face retaliation if the Trump administration moves forward with tariffs.

In other news, former ambassador John Bolton took over as President Trump’s national security adviser, after Lt. Gen. H.R. McMaster recently left its post.

This announcement increased geopolitical uncertainty among investors. Especially as Bolton had previously advocated military force as a way to deal with North Korea and Iran.

The US dollar index, which measures the greenback against six major currencies, was trading 0.01 percent higher at 89.04 by the time of this writing.

In the next few days, traders will be focusing on incoming economic data, including a final revision on the US gross domestic product for the fourth quarter 2017 and several speeches from Federal Reserve policymakers.

On Friday markets will be closed in observance of the Good Friday holiday.

OIL

Oil prices were lower in Asian trading hours on Monday, with market players looking ahead to fresh inventories and more news from the political side.

The US West Texas Intermediate crude contracts were down 0.58 percent to $65.50 per barrel as of 06:50 GMT. Meanwhile, Brent futures eased 0.34 percent to $70.21 a barrel.

Crude benchmarks ended sharply higher on Friday, reaching an eight-week peak as investors speculated on the extension of OPEC-led output cuts into next year.

For the week, WTI crude futures added about 5.7 percent, while Brent contracts jumped 6.4 percent, posting their best weekly gains in the last eight months.

Saudi Energy Minister Khalid al-Falih said OPEC members and Russia would likely keep oil production cuts running in 2019 to rebalance the market.

Last week, General Electric’s Baker Hughes energy oilfield services firm reported a rise by four in the total oil rig count for the United States, leaving the count at 804 units.

In its latest report, the US Energy Information Administration said crude supplies for the week ended March 16 fell by 2.6 million barrels against a forecasted 2.6 million barrels gain.

In the days ahead, investors will await fresh weekly crude and refined products inventories from the United States, as well as developments from Middle East’s shaken political sphere.

FortFS

Please don’t get me wrong. If you are giving your first steps in the cryptocurrency market and you have no prior experiences trading these kind of innovative assets, you will most likely face a few downturns in your way. But… is that a reason to stop?

Nope. Curious why? Because there are many easy-to-apply tips that will help you reduce risks considerably in your current or future cryptocurrency investment. Let’s check out 3 of them:

1 - Set Stop Loss Orders (Always)

Take Bitcoin as a clear example. The world’s best and most famous cryptocurrency skyrocketed last year from $900 per unit to almost $20,000 a coin. THAT kind of volatility should be taken into deep consideration before placing a crypto order. And not especially due to the gains, but because when 2018 started, Bitcoin dropped sharply to nearly $6,000 per unit.

By the time of this writing, Bitcoin was trading at $8,622 per unit, down 253.0 points or 2.85 percent. The technical summary for a daily time frame suggested strong sell.

2 - Trade With A Cold Mind

This advice is not only applicable to cryptocurrency investments. Actually, it is highly recommended for all type of investors in every single sphere of action. Keeping your emotions away from your trading station will save you hundreds of dollars. It is a proven fact.

Take decisions based on fundamental analysis. Take decisions based on technical analysis. Do not jump into a position because everybody else does it. Trust me. It will work on their side one time, two times, ten times. But eventually, they will all be mistaken and when they are… OH boy!

3 - Is Crypto Investment Right For You?

Well, well… and here we are again. Back to stage one. The most important question you should always ask yourself before putting your money into a certain type of investment is: am I the right type of investor for this stuff? It’s basic, really, but it will help you avoid HUGE mistakes.

If you are the kind of person who is trying to make a few extra bucks without given your trades much attention, the crypto might not be the right choice for you. On the contrary, if you are willing to experiment, learn and act like a professional (even if you trade part time), then go for it.

FortFS

Asian markets traded mostly in red territory on Monday, following a strong negative close from Wall Street last week on rising concerns that tensions between the United States and China would lead to a global trade war.

US President Donald Trump signed on Thursday a memorandum in order to implement import tariffs to Chinese products for a volume of about $60 billion.

The tariffs are mainly directed to the technology sector. According to the Trump administration, this measure is meant to penalize China for stealing intellectual property.

On Friday, market sentiment came under pressure after the Chinese government issued a list of 128 US products that could face retaliation if Trump moves forward with tariffs.

In Japan, the Nikkei 225 notched down 0.4 percent by mid-session, while the broader Topix index eased about 0.65 percent. In South Korea, the Kospi was able to gain 0.2 percent.

Sydney’s ASX 200 declined 0.57 percent, with the financial sector leading decliners. Top banking institutions in the country were down, with ANZ, Commonwealth Bank and National Australia Bank all down by nearly one percent.

In China, mainland index Shanghai composite loss 1.17 percent, while the Shenzhen composite dropped by 0.49 percent. Hong Kong’s Hang Seng index was down a quarter of a percent.

On Friday, the Dow Jones industrial average ended with a 424.69 points loss at 23,533.20. The index closed at its lowest level since November. The S&P 500 fell 2.1 percent to 2,588.26, and the Nasdaq composite was down 2.4 percent to 6,992.67.

<<< Stock Indexes >>>

Australia ASX S&P -30.80 -0.52% 5,898.20

Shanghai Composite -51.85 -1.64% 3,100.91

Hong Kong Hang Seng -168.59 -0.56% 30,140.70

Nikkei 225 -99.75 -0.48% 20,518.11

TSEC 50 Index -13.64 -0.13% 10,809.69

FortFS

GOLD

Gold prices were higher in Asian hours on Friday, with market players preparing for a fresh batch of economic releases later in the day, while the US dollar remains on the spotlight.

On the Comex division of the New York Mercantile Exchange, gold futures were up 0.87 percent at $1.338.90 a troy ounce as of 06:30 GMT.

The yellow metal moved away from two-week highs as the American currency recovered some positions after bouncing in the way of a widely expected interest rate hike on Wednesday.

Earlier this week, the US Federal Reserve increased its benchmark rate by 25 basis points to a range between 1.50 percent and 1.75 percent.

The US dollar index, which measures the greenback against six major currencies, was trading 0.24 percent lower at 89.16 by the time of this writing.

On Thursday, President Donald Trump announced tariffs on nearly $50 billion worth of Chinese exports invoking Section 301 of the 1974 Trade Act. The Trump administration considers China is violating multiple terms on US intellectual property.

Investors are concerned that the decision would increase tension between the world’s two biggest economies and potentially derivate in a massive trade war.

Meanwhile, BNP Paribas said it continues to expect a fourth interest rate hike this year.

“With the median dot holding at three hikes for this year by the tiniest of margin, for us the balance of risk is clearly weighted towards the FOMC bringing forward its rate path expectations,” wrote BNP Paribas.

On the data front, initial jobless claims rose to 229,000 from an estimated 225,000. Preliminary readings on manufacturing and services PMIs came below expectations at 55.7 and 54.1.

Ahead in the session, durable goods orders for February will be out at 12:30 GMT. New home sales for February are expected to be published at 14:00 GMT.

OIL

Oil prices were higher in Asian trading hours on Friday, with market players awaiting the weekly US oil rig count later in the session.

The US West Texas Intermediate crude contracts were up 0.93 percent to $64.90 per barrel as of 06:30 GMT. Meanwhile, Brent futures rose 0.74 percent to $69.42 a barrel.

Baker Hughes is expected to release its weekly oil rig count for the US as of 18:00 GMT.

Crude benchmarks settled lower on Thursday as most investors opted to take profits following strong gains this week, although sentiment remained on the green side, opening the doors to a potential short-term upward correction.

Morgan Stanley said US crude inventories are expected to fall later in 2018 if geopolitical tensions in the Middle East continue to grow.

“On May 12, the US government will need to decide on the renewal of the waiver of Iranian sanctions,” the bank said.” “Depending on the outcome, this could affect Iranian exports, including possibly taking a few hundred thousand barrels per day off the market.”

Also, the investment bank said crude prices could benefit from Venezuela’s output shortage.

“Any restrictions imposed by the US government on diluent exports from the US or crude imports from Venezuela into the US could lead to a further decline in overall production.”

Earlier this week, the US Energy Information Administration said that crude stockpiles for the week ended March 16 dropped by 2.6 million barrels vs a forecasted gain of 2.6 million barrels.

FortFS

As it was widely expected, the Federal Reserve rose its benchmark interest rate by 25 basis points earlier this week, leaving it in a range between 1.50 percent and 1.75 percent.

The US regulator also reinforced its commitment to move forward with the monetary normalization plan, which includes another two interest rate moves this year.

However, there were expectations that the US central bank would announce a potential fourth interest rate move for 2018. Fed Chair Jerome Powell reassured the economy is performing well, and even upgraded the gross domestic product estimation for next year.

But the United States monetary system is not the only one out there. In fact, the European Union and other nations have strong influence in currency and stock markets too.

Have you heard of “interest rate differentials” before? Don’t worry. It’s never late to embrace a new definition. So let’s begin with a simple definition:

“The interest rate differential (IRD) measures the gap in interest rates between two similar interest-bearing assets. Traders in the foreign exchange market use interest rate differentials (IRD) when pricing forward exchange rates.”

Source: Investopedia

So… What are IRD used for in the Forex market? Basically, to trade. Yeap, pretty much that. Buy or sell, the only two options available so far. The spread between rates can help a trader identify potential changes in currency pairs.

An increasing differential reinforces the higher-yielding currency, while a narrowing one benefits the lower-yielding currency. So, no rocket science to get a sense of how to use IRDs.

As the European Central Bank is moving slowly to monetary normalization, expectations for a strengthening of the US dollar are not that strong.

The EURUSD will find a clearer path once the ECB expresses a defined posture on monetary policy and therefore, helps to shape expectations on policy.

FortFS

Asian stock indexes on Friday, following negative closes in Europe and the US on increasing concerns for a potential trade war between world top economies.

In Japan, the Nikkei 225 dropped 3.59 percent to its weakest point in nearly five months, with most exporters feeling the pressure.

The Topix was down 2.88 percent, with all its sectors trading in red territory across the board. Materials and financials components led other sectors lower.

The South Korean Kospi index notched down 2.25 percent, with heavyweight tech names such as Samsung Electronics losing 3.01 percent in the session.

Hong Kong's Hang Seng Index fell more than three percent, while mainland Shanghai and Shenzhen composites showed similar loses.

Overnight, US President Donald Trump signed a memorandum to implement import tariffs on China, which would affect a worth of $60 billion.

The tariffs are mainly directed to the technology sector and they are meant to penalize China for stealing intellectual property, the Trump administration explained.

On Friday, China issued a list of 128 US products that could face a potential retaliation.

<<< Stock Indexes >>>

Australia ASX S&P -114.20 -1.89% 5,929.00

Shanghai Composite -115.23 -3.53% 3,148.25

Hong Kong Hang Seng -906.32 -2.92% 30,164.73

Nikkei 225 -946.43 -4.38% 20,645.56

<<< Next in the United States >>>

Durable goods orders for February will be out at 12:30 GMT. New home sales for February are expected to be published at 14:00 GMT.

FortFS

Markets in Asia traded mainly higher on Thursday following a widely expected Federal Reserve interest rate hike and upgrade of the US gross domestic product forecast.

The US regulator raised its benchmark rate by 25 basis points, leaving it in a range between 1.5 percent to 1.75 percent. Market players had priced in the monetary decision in advance.

The central bank said it expected at least two other interest rate moves this year, while upgrading its 2019 benchmark rate estimation to 2.9 percent.

Wall Street top three indexes rose sharply immediately after the announcement, while the dollar deepened losses on profit taking. As the decision was anticipated, the meeting turned out to be a buy the rumor / sell the fact event.

In Japan, the Nikkei 225 added 0.84 percent, while the Topix increased 0.46 percent, with mining and oil components rising 4.5 percent and 2.8 percent in early trading.

Seoul's Kospi index was up 0.87 percent with a vast majority of sectors moving into green territory. Technology, trading houses, manufacturing were among the best performers.

Hong Kong’s Hang Seng Index jumped 0.45 percent and China’s mainland Shanghai composite rose 0.18 percent. In Australia, the S&P/ASX 200 reversed early losses to add 0.2 percent.

<<< Stock Indexes >>>

Australia ASX S&P -12.40 -0.20% 6,040.70

Shanghai Composite -26.64 -0.81% 3,254.31

Hong Kong Hang Seng -196.47 -0.63% 31,218.05

Nikkei 225 +153.77 +0.72% 21,534.74

Taiwan TSEC 50 Index -11.49 -0.10% 10,999.58

<<< Next in Europe >>>

Germany’s manufacturing and services PMIs for March are due at 08:30 GMT, followed by business expectations, current assessment and lfo business climate index at 09:00 GMT. The European Union and the United Kingdom will also be releasing activity data at 09:00 GMT and 09:30 GMT respectively. Attention in the UK will be shifted to the monetary policy meeting of the Bank of England, although interest rates are expected to remain in place.

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Traders will keep an eye on initial jobless claims at 12:30 GMT and preliminary readings on the manufacturing and services PMIs for March at 13:45 GMT.

FortFS

Monday

No relevant news in the calendar.

Tuesday

United States: S&P/CS HPI Composite - 20 n.s.a. for January is due for release as of 13:00 GMT, with a forecasted year-over-year rate of 6.1 percent. The Conference Board will present its consumer confidence indicator for March at 14:00 GMT, with 130.0 points eyed.

Wednesday

Europe: GfK German consumer climate indicator for April will be out at 07:00 GMT.

United States: a fresh look at the fourth-quarter gross domestic product is scheduled at 12:30 GMT, with an upgrade to 2.6 percent expected. At the same time traders await the goods trade balance for February. Pending home sales for February are due for release at 14:00 GMT.

Asia: Japan’s retail sales for February are set for publishing at 23:50 GMT.

Thursday

Europe: Germany’s unemployment change and rate for March is due at 08:00 GMT. The CPI is next at 12:00 GMT. Meanwhile in the UK, business investment for the fourth quarter 2017, current account and the gross domestic product are all up at 08:30 GMT.

United States: Fed’s favorite inflation measure - the core PCE price index - is scheduled for release at 12:30 GMT. Data will come along with personal spending for February. Michigan University will release consumer expectations and sentiment surveys for March at 14:00 GMT.

Asia: Japan’s jobs/applications ratio for February will be available at 23:30 GMT. Tokyo’s core CPI for March will be out at the same time. Twenty minutes later, market players will count on February’s industrial production, with a 4.2 percent reduction seen.

Friday

Good Friday holiday - markets closed.

FortFS

GOLD

Gold prices were higher in Asian hours on Thursday, with investors trying to weigh the results of the latest monetary encounter in the US while keeping an eye on the dollar’s dynamic.

On the Comex division of the New York Mercantile Exchange, gold futures were up 0.66 percent at $1.330.20 a troy ounce as of 04:50 GMT.

The yellow metal added to a nearly a one-week high as dollar edged lower despite the US central bank raised its benchmark rate by 25 basis points and reinforced the idea of further monetary policy adjustments for the near future.

The US Federal Reserve rose interest rates to a range between 1.50 and 1.75 percent. The move was widely anticipated and therefore little reaction was seen following the announcement.

Analysts had previously warned that this monetary meeting was likely turn into a buy-the-rumor-sell-the-fact event. Investors opted to take profits after the rate hike, pushing the American currency to the downside by the end of the session.

This monetary policy meeting has been the first one with Jerome Powell as Chair of the Federal Reserve. Overall, he remained on a hawkish side, insisting that the economy won’t overheat.

Among different topics mentioned during his remarks, the Fed chief recognized that "a number of participants in the [FOMC] did bring up the issue of [Donald Trump’s import] tariffs"

Investment bank Wells Fargo said it forecasts for four interest rate hikes in 2018 remains in place, as they see inflation picking up in the next few months and strong labor conditions.

“Financial market and geopolitical uncertainties could keep gold at relatively high levels despite the strong economic growth that should favor interest rate hikes,” Desjardins Group said.

On the data front, existing home sales for February came in at a 5.54 million rate, displaying a better-than-expected increase of 3.0 percent against a forecasted 0.5 percent.

Ahead in the day, traders will keep an eye on initial jobless claims at 12:30 GMT and preliminary readings on the manufacturing and services PMIs for March at 13:45 GMT.

OIL

Oil prices were higher in Asian trading hours on Thursday, with participants digesting unexpected inventory moves and looking ahead to the weekly rig count in the US.

The US West Texas Intermediate crude contracts were up 0.09 percent to $65.23 per barrel as of 04:50 GMT. Meanwhile, Brent futures rose 0.03 percent to $69.49 a barrel.

Crude benchmarks settled higher on Wednesday, near six-week highs, as US inventories dropped unexpectedly in the previous week.

The US Energy Information Administration said that crude supplies for the week ended March 16 fell by 2.6 million barrels against a forecast gain of 2.6 million barrels.

Earlier this week, the American Petroleum Institute said crude inventories were likely to decline by 2.7 million barrels, a figure that turns out to be pretty close to official numbers.

The total inventories for crude in the United States stood at 428.3 million barrels last week. US crude oil production remained above 10 million barrels per day, close to Saudi Arabia and Russia, the world leading crude producers.

While investors are feeling a bit more released these last few days over the oil supply matter, concerns that US production will derail OPEC-led efforts continues to weight on sentiment.

This week’s EIA report also showed that gasoline stockpiles notched down by 1.7 million barrels, compared to an estimated decline of around 2.0 million barrels.

Ahead this week, Baker Hughes’ weekly oil rig count is up on Friday.

FortFS