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    Daily Report – Wednesday 3rd October

    THE DAILY REPORT

     

    THE DAILY REPORT
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    Risk Events 

    GDB - Services PMI 6:30PM
    EUR - Services PMI 6:30PM
    Retail Sales 7:00pm
    USD - ADP Employment Change

    Major Bloomberg & Reuters News

    Bloomberg
    ‘Australian dollar delivers rate cut central bank can’t Provide’
    Australia’s currency is set to head even lower as local interest rates fall further behind U.S. levels, delivering a dose of stimulus the central bank has long sought but been reluctant to provide itself.

    The RBA’s cash rate is now 75 basis points below the Federal Reserve target, the widest gap since 35 years ago when the Aussie dollar was first floated. The differential is only set to grow as the U.S. keeps tightening and Australia stays on hold at a record low 1.5 percent -- which markets and economists think will be the case for at least another year.

    OILprice.com
    ‘Oil Rally Pauses after API reports small build in crude inventories’
    The American Petroleum Institute (API) reported a build of 907,000 barrels of United States crude oil inventories for the week ending September 28, compared to analyst expectations that this week would see a build in crude oil inventories of 1.132 million barrels.

    Last week, the American Petroleum Institute (API) reported a build of 2.903 million barrels of crude oil.
    The API reported a draw in gasoline inventories as well for week ending September 28 in the amount of 1.703 million barrels. Analysts had predicted a build of 1.156 million barrels in gasoline inventories for the week.
    Oil prices were down in afternoon trading prior to the release of the API data on inventories. At 1:16pm EDT, WTI was trading down 0.35% (-$0.26) at $75.04. While down for the day, this is still $3 per barrel over last week’s Tuesday afternoon prices, and $5 up from prices two weeks ago as the market settles on the notion that Iran’s oil supplies may be restricted to a greater extent than previously thought, including Iran’s oil exports to China and India.

     

    (Times In AEST)
     

    Trading FX and CFDs involves a substantial degree of risk and should only be undertaken with risk capital. Please refer to our website www.forexct.com.au for a copy of our PDS & FSG. Forex Capital Trading Pty Ltd (“ForexCT”) provides general advice that does not take into account your objectives, financial situation or needs. The contents of this newsletter do not take into account the personal circumstances of any individual investor. Investors do not own or have rights to underlying assets. ForexCT is regulated by ASIC (AFSL 306400, ABN 69 119 086 270). ForexCT’s AFS license and Australian regulation only applies to the financial services being offered in Australia only.

    ForexCT and its related entities do not warrant the accuracy or completeness of the information contained in this newsletter and shall not be responsible or liable for any loss or profit whatsoever which may arise directly or indirectly from any use or reliance upon any information in this newsletter. Any person acting on the information in this newsletter does so entirely at their own risk. Any analysis, opinion, commentary or research in this newsletter is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell any financial product or instrument.  You should always seek independent financial advice.

    The trade signals above reflect Trading Central's judgement as at the time the information was prepared under the Terms and Conditions set by Trading Central. ForexCT and its related entities do not warrant the accuracy or completeness of the information contained in this newsletter and shall not be responsible or liable for any loss or profit whatsoever which may arise directly or indirectly from any use or reliance upon any trade setup, statement, opinion or omission.

    Posted: October 03, 2018 | 12:37 AM