Retail sales numbers out of the United States will be scrutinized on Tuesday as investors try to keep alive hopes of a 0.50% rate cut by the Fed later this month. The retail sales data will be published at 12:30 GMT and will be followed by industrial production figures at 13:15 GMT. With the Fed […]
BTCUSD opened with a noteworthy negative gap today, posting a fresh almost two-week low near 9792. The price dived below the Ichimoku cloud but is currently trying to pare some of today’s losses. The MACD oscillator is moving even lower below the zero and trigger lines, while the stochastic is holding in the oversold territory. […]
The JP225 stock index has been ascending since June 4, from the low of 20,276 to a two-month high of 21,796. The index gapped upwards on July 1, only to shift to a two-week trading range with lower and upper boundaries of 21,451 and 21,796 respectively. The index currently finds support on the 50-day simple […]
US stocks eye new record highs as earnings season begins Dollar pulls back as markets digest Powell’s cautiousness Kiwi outperforms on Chinese data, looks to crucial inflation data overnight Solid Chinese data calm slowdown fears, boost risk appetite Global markets kicked off the week in a risk-on mood, with the major US stock indices set […]
EURAUD has been underperforming in the past three days, challenging the 38.2% Fibonacci retracement level of the upward wave from 1.5340 to 1.6445 near 1.6025. The pair bounced off the 20-day simple moving average last Wednesday and is ready to complete a bearish crossover within the short-term SMAs. Short-term momentum indicators are also pointing to […]
EURUSD confirmed another higher low at 1.1192 last week but the market needs a more aggressive rally above the 1.1411 top to resume confidence on the uptrend which started from the 1.1106 bottom. The short-term risk is currently looking neutral-to-positive as the RSI is trying to hold strength above the 50 level, while the Stochastics […]
Between 10 June-10 July 2010, we were pleased to invite our existing and new clients residing in Pakistan for an exclusive promotion that had as many as 30 enticing lucky draw prizes on offer. We would like to thank all our clients who joined the promotion for a chance to win any of the valuable […]
The Gold has been trading trading sideways in past 24 hours at the price of $1.408. Anyway, there is the well defined trading range between the price of $1.411 and $1.401. The potential break of up limit or down limit will define further direction. The potential break of the resistance at $1.411 would confirm test […]
Initially, Temporary Bullish breakout above 1.1335 was demonstrated (suggesting a high probability bullish continuation pattern). However, the EURUSD pair has failed to maintain that bullish persistence above 1.1320 and 1.1275 (the depicted price levels/zones). This was followed by a deeper bearish pullback towards 1.1175 where significant bullish price action was demonstrated on June 18. The […]
The EURUSD has been trading trading sideways in past 24 hours. Anyway, there was the rejection of the support at the price of 1.1244. In my opinion, there is potential for the ABC down completion, which is sign that EUR may trade higher towards the resistance levels at 1.1272, 1.1284 and 1.1308. Industry news: Fed […]
Gold lost steam in the last weeks, after a rally that began at the beginning of June. The price moved sideways after the break above the upper boundary of the three-year and five-month trading range, of 1366, and is currently trading between the short-term simple moving averages (SMAs) of the 14- and 21-day SMAs. Momentum […]
The US 30 index has been in a flying mode over the last couple of days, resting near a fresh all-time high of 27,183.82. The flat momentum in the MACD, which trends above its trigger line, signals that fresh record highs can be achieved but the volatility in the price would weaken. Still, the RSI warns that the […]
After Fed chief Powell all but guaranteed a July cut, things could quiet down a little next week, as the agenda is dominated by economic data. Growth figures from China may shed light on how much damage the trade war has inflicted, while in the US, retail sales numbers will be among the final pieces […]
GBPAUD slid into a four-month trading range on February 19, with lower boundary of 1.8115 and an upper boundary of 1.8865, which two weeks ago, was broken aggressively to the downside, initially finding support at 1.7870. A pullback last week has sellers again reloaded for another test. The short- and medium-term simple moving averages (SMAs) […]
GBPJPY continues to show signs of a fading downtrend as the RSI and the MACD keep extending their two-month old upward pattern at a time when the price seems to be easing bearish momentum. The minimal difference between the recent lows is more evidence that the market may be preparing for a trend reversal. Traders […]
US dollar firms again on stronger-than-expected data, which tempers bets of 50-bps rate cut Euro edges higher even though ECB minutes signal more stimulus Oil climbs to 1½-month highs on rising Middle East tensions and Gulf of Mexico shutdown Dollar fluctuates as markets undecided on 50-bps cut Just as markets were reconsidering the likelihood of […]
USDCAD is plunging today towards a fresh eight-and-a-half month low near 1.3030, following the pullback on the 1.3145 resistance level, which overlaps with the 20-day SMA. Technically, the RSI indicator is declining in negative territory, approaching the oversold zone, while the stochastic oscillator posted a bearish crossover within the %K and %D lines in the […]
GDP growth accompanied by industrial production, retail sales and urban investment readings will be out of China on Monday at 0200 GMT. Given the cloudy conditions on the trade front, the data are expected to reinforce speculation that extra stimulus may be needed to stabilize the economy in the coming months. The last time the Chinese economy […]
As sovereign bond yields around the world take a nosedive in anticipation of rate cuts by major central banks, the question once again being asked is how low can interest rates go. With rates in many regions such as Europe and Japan already in negative territory, have central banks run out of adequate scope to […]
EURNZD has been declining considerably since yesterday, after the bounce off the 23.6% Fibonacci retracement level of the upward rally from the 18-month low of 1.6285 to the eight-month high of 1.7305 near 1.7050. The pair is ready to touch the 200-day simple moving average (SMA) and a possible upside correction is expected in the […]
This year, Bitcoin and other cryptocurrencies have been the best-performing assets in the financial markets. Year-to-date, Bitcoin price has risen by 195% while that of Ethereum has risen by more than 90%. There are technical and fundamental reasons for this increase. From a technical perspective, many investors bought into the currencies in January, after dropping […]
This week, US stocks continued to soar, with all the major indices breaking records. The S&P 500 crossed $3,000 for the first time while the Dow Jones Industrial Average (DJIA) crossed $27,000 for the first time. This happened as investors cheered Jerome Powell, who had a two-day testimony to congress. In his testimony, the Fed […]
Singapore is a small country in Asia with a population of more than 5 million people and a GDP of more than $330 billion. It is one of the most developed country in the region. Its democratic model and strong judiciary, coupled with its close proximity to China makes it an attractive country to investors. […]
The S&P 500 is the biggest index in the world. The companies in the index have a market value of more than $24 trillion. This makes them slightly higher than the entire GDP of the United States, which stands at more than $20 trillion. The biggest companies in the index are the likes of Apple, […]
Yesterday, the biggest news in the financial markets was the Jerome Powell testimony. In the statement, the chair said that the officials will likely lower interest rates in the coming meeting. This was in line with the previous expectations. Investors are now pricing-in two more rate cuts this year. Today, attention will still remain on […]
The price of crude oil jumped in overnight trading as investors reacted to the inventories data released by the Energy Information Administration (EIA). This data is usually released every week by the organization. The data released showed that inventories declined by almost 10 million barrels. This was a sharper decline than the 3 million that […]
Today, the biggest news in the financial market will be Jerome Powell, who will be testifying in congress. The Fed Chair’s testimony will be the first one since the US reported excellent jobs numbers for the month of June. In the month, the economy added more than 224k jobs, which was higher than the 160k […]
Canada is an important North American country with a population of more than 37 million people and a GDP of more than $1.6 trillion. This makes it the tenth largest economy in the world. Part of the reason why the country’s economy is so large is that it has vast natural resources like crude oil. […]
Mexico is an important North American economy that neighbors the US to the south. The country has a population of more than 112 million people and a GDP of more than $1.12 trillion. The country is famous for the volumes of trade it carries with the United States. In 2018, the two countries had trade […]
The DAX index is Germany’s response to the US Dow Jones Industrial Average. The index is made up of the 30 biggest companies in Germany and is used as a measure of how good or bad the economy is performing. Yesterday, the DAX declined by 25 points and the futures point to a 36 lower […]
