USD/JPY resilient above key support as US CPI awaited UK GDP to rise, but will GBP/USD extend rebound? Tensions in Middle East boost oil, but key resistance overhead US CPI –> USD/JPY Friday’s US jobs data backed the “higher for longer” era in the monetary world, with the focus turning now to the next CPI inflation […]
The US 500 cash index jumped decisively higher on Friday The index bounced off the October 13, 2022 trendline The momentum indicators could be close to supporting a reversal The US 500 cash index is trading sideways today, a much quieter session amidst the Columbus Day holiday. Market participants have the chance to digest Friday’s […]
Dollar stabilizes ahead of FOMC minutes and US inflation report Inflation expected to cool further – is the Fed done raising rates? Minutes due at 18:00 GMT Wednesday, inflation 12:30 GMT Thursday Dollar sizzles The US economy continues to display impressive resilience. Economic growth accelerated over the summer and is projected to have reached an […]
Israel-Hamas war pushes up oil prices amid risk of wider conflict Dollar, yen and gold rise too as investors rush to safety Fed rate hike odds reverse NFP boost; US CPI, Fed speakers eyed next Middle East violence sparks turmoil Markets woke up to the worst flare-up of violence between Israel and Palestine in 50 […]
Earlier this September, Morocco was struck by tragedy and pain and the last thing we wanted was to remain idle to its people’s suffering. That’s why XM rolled up its sleeves, acted fast, and gave its support to everyone in need. We donated to the Moroccan non-profit food bank Banque Alimentaire, gave as many blankets, […]
Gold jumps higher on the back of geopolitical risks This is the first reaction from the bulls after the strong sell-off Upleg could have legs if momentum indicators align Gold is trading higher today as the bulls are trying to recover part of the significant losses incurred during the nine consecutive red candles that pushed […]
GBPUSD loses 0.7% after upbeat nonfarm payrolls Signals mixed; bulls might have a tough task GBPUSD trimmed earlier gains and turned negative on the day after the US jobs growth beat estimates by a large margin. Thursday’s support area of 1.2100 is currently buffering downside pressures. If that floor collapses, the price could tumble to 1.2000, […]
BoE keeps rates unchanged, citing slowing UK economic activity Data since then corroborate the gloomy picture Upcoming indicators include monthly GDP and industrial production Will the pound weaken after they come out on Thursday at 06:00 GMT? UK business surveys ring the recession alarm bells At its latest gathering on September 21, the Bank of […]
Bitcoin defies spiking yields and equity market rout Faces strong technical rejection at the 200-day SMA Regulatory crackdown persists, all eyes on FTX trial Cryptos exhibit resilience in adverse macro environment The last few weeks have been characterised by risk off sentiment in financial markets as the Fed has repeatedly stated its intention to keep […]
EURUSD stages another bull run within bearish channel Bulls need to push above 200-EMA to gain control EURUSD has been moving in an upward path since pausing its downtrend at a ten-month low of 1.0447 and at the lower boundary of the two-month-old bearish channel. In the four-hour chart, the pair is looking for a clear close above […]
US CPI report and Fed minutes to take centre stage Will they fuel or dent the rally in yields and the dollar? Chinese inflation and UK growth data to also be eyed Otherwise, a quieter week awaits with Monday a holiday in the US US headline CPI could rise again As speculation about whether […]
Nonfarm payrolls coming up, forecasts point to a solid report Dollar winning streak set to extend to 12 weeks if data is solid Gold stabilizes as yields calm down, but oil prices crash Nervous markets brace for nonfarm payrolls A fragile sense of calm has returned to global markets ahead of the latest round of […]
Learn how to take advantage of trends using moving averages with our expert educator Jonathan Reyes at our upcoming grand seminar in Manila! You’ll discover how to identify strong trending markets, determine entry and exit levels and manage risk using moving averages. Event details: City: Manila Date: 11 Nov 2023 Time: 10:00 – 14:00 local […]
AUDUSD pivots higher near familiar support Short-term risk remains skewed to the downside Next resistance expected to emerge near 20-SMA AUDUSD found shelter near the descending line drawn from December 2022 for the fifth time, avoiding any declines below the 0.6300 round level. The RSI and the stochastic oscillators have deviated above their oversold […]
USDCAD in an aggressive advance, smashing previous resistance zones Formation of a golden cross boosts bulls’ appetite Momentum indicators ease but remain deeply positive USDCAD managed to totally erase its recent downside correction and edge higher towards a fresh six-month peak of 1.3784. However, the pair has surrendered some gains in the last couple of sessions […]
Earnings parade unofficially starts next week as stocks undergo a downside correction A 0.1% annual earnings drop projected for the S&P 500, forecasts revised higher Surging Treasury yields bite stocks, raging dollar an additional headwind US indices retreat as investors face ‘higher for longer’ reality In the third quarter, US stocks gave back some of their impressive […]
Our PH Gala 2023 in Manila, the biggest night of the year, ignited the city with exhilarating energy on 9 September! We invited our clients, partners, and guests to celebrate 14 years of success in the Philippines together. With captivating performances, engaging activities, and a 1.6M PHP Lucky Draw, the event exceeded all expectations! Frenchie […]
USDCHF’s strong rally since July appears to have stalled This is the first attempt by the bears to regain market control Momentum indicators could be close to sending bearish signals USDCHF is edging higher today, trading a tad below the 0.9187 level as the bears are trying to show their strength after a very aggressive […]
AUDUSD in the green again today, trading above the early September trough Bulls defended the March 10, 2023 descending trendline Current upleg does not enjoy the support of momentum indicators AUDUSD is recording its second straight green candle as the bulls are trying to stage a comeback. They have successfully defended the March 10, 2013 […]
Bitcoin in a steady advance, jumping above crucial descending trendline Despite the jump above 28,000, 200-day seems a tough obstacle Death cross points to losses but momentum indicators diverge BTCUSD (Bitcoin) has been forming a structure of higher highs and higher lows since its bounce off the September bottom of 24,915. Interestingly, the completion of a […]
Stock markets have retreated lately, as bond yields stormed higher But equity valuations are still stretched and earnings growth is stagnant Sky-high yields and global slowdown could keep markets under pressure Stocks drop as yields soar The phenomenal rally on Wall Street lost some steam in the third quarter, mostly because of the seismic moves […]
We’re pleased to announce the winners of our Mid-Autumn Everybody Wins Promo that ended on September 30. The main Lucky Draw included multiple prize levels, and numerous winners. In total, we gave away rewards worth 10K USD, including Wuling-Hongguang MINIEV cars as 1st prize, as well as Xiaomi 13 Pro 12+ 256GB, and 30x Redmi […]
Oil rally at risk near 84.00 after latest freefall Bearish continuation likely, but patience required WTI oil futures closed with heavy losses on Wednesday near a one-month low of 84.16 following the rejection near the 20-day simple moving average (SMA) at 89.40. The 50-day SMA put the brakes on the bear run marginally below […]
ADP reveals less-than-expected increase in private payrolls Dollar retreats as investors lower their implied Fed rate path Yen gains, but long-lasting recovery remains questionable Wall Street bounces off lows, oil tumbles Dollar slips as ADP report disappoints The US dollar pulled back on Wednesday and continued trading on the back foot today, after the ADP […]
Gold posts eighth straight daily loss, touching its lowest levels since March Decline shows no signs of easing, widening Bollinger bands point to high volatility Oscillators deep in oversold zone for quite some time, bulls remain on the sidelines Gold has been in a steep downtrend after violating both its 50- and 200-day simple moving averages (SMAs). Even though the […]
US 30 cash index edges higher, a tad above the May 25 low The short-term bearish trend remains dominant Momentum indicators don’t point to a reversal yet The US 30 cash index is trying to record the second consecutive green candle since it managed to bounce off the 50% Fibonacci retracement of the January 5, 2022 – October […]
EURGBP extends its pullback from 4-month high Mildly bearish bias in the near term But plenty of support at 20-day SMA and uptrend line EURGBP has been gradually edging lower after scaling a four-month high in late September. The momentum indicators are mixed as the RSI has flatlined slightly above the 50-neutral level but the […]
USDCAD snaps long-term resistance line Short-term bias bullish; overbought signs detected A clear close above 1.3700 required for more upside USDCAD is fighting for a close above the descending line at 1.3700, which connects all the highs from the 2020 top, for the first time since its failed attempt to reach it in early […]
Key earnings data will be released on Friday 02.30 GMT as the BoJ is fixated on wages The market remains focused on the rumoured intervention from Japanese authorities A strong set of data could offer some short-term respite to the ailing yen Yen Intervention in focus The market is still digesting Tuesday’s rumoured intervention, and […]
Canada’s economy likely added fewer jobs in September as labour market cools But will it sway odds of further BoC rate hikes? Local dollar struggles at 6-month low ahead of Friday’s data due at 12:30 GMT A rough patch The Canadian economy has been going through a rough patch since the end of 2022, contracting […]
