The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.
Usual Effect: A high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.
Frequency: Released monthly, about 35 days after the month ends.
Last Read : -39.99 B
Expectations : -40.00 B
Actual : -43.03 B
Volatility : medium – high (various from month to month )
Market Impact : a reading below – 41.00 B is likely to bring a small slide for the USD !!
Recommendations : Buy the USD …any fall should be limited and should be taken as an opportunity to buy the USD on dips.The US dollar remains strong against all majors.
Market outlook : (4 hour chart) :
EURUSD: found new support at the 1.2500 levels , below 1.2500 will open 1.2438 ahead of 1.2375 levels.resistance at 1.2545 ahead of 1.2630.
GBPUSD: found new support at the 1.5985 levels , below this will resume the bearish move towards the 1.5925 levels ahead of the 1.5873 levels.resistance at 1.6015 , sustained trading on a 4 hour basis above this level will open 1.6087 levels ahead of 1.6140 levels.
USDJPY: support at 113.35 , stability above this level could mean a return to the 114.20 levels ahead of 115.00, a clear break below 113.35 on a 4 hour basis will bring a corrective pullback towards the 112.47 levels before the next rise.
USDCHF: Is in a pullback mode , resistance at 0.9641 , break of 0.9641 on a 4 hour basis , will turn outlook bullish again towards the 0.9690 levels ahead of the 0.9750 levels , stability below 0.9641 could extend the pullback towards the 0.9578/0.9543 levels.
USDINDEX : support at 87.15 , stability above this level could mean a return to the 87.50 levels ahead of 88.00, a clear break below 87.15 on a 4 hour basis will bring a corrective pullback towards the 86.59 levels before the next rise.