US 500 index rebounds from its September low Bulls attack the 50-day SMA Momentum indicators point to short-term gains The US 500 stock index (cash) is currently testing the 50-day simple moving average (SMA), with short-term oscillators endorsing this latest advance. The MACD jumped above its red signal line in the positive zone, while the RSI is hovering above […]
BoJ’s Ueda hints at end to negative rates by year-end if wages rise Dollar starts week on the backfoot as crucial CPI data awaited China hopes lift aussie, equities; easing Apple selloff helps stocks too Ueda sparks BoJ policy speculation The Japanese yen shot higher on Monday, climbing against all of its major peers after […]
This July, we proudly supported Haya Karima, a charity in Egypt. Our contribution directly fuels their mission to provide quality education to every child in Cairo, including orphans and those from financially challenged families. Haya Karima’s multifaceted approach includes building and enhancing schools and nurseries, equipping them with the necessary resources, hiring qualified educators, and […]
Gold fails to pierce descending trendline Encounters strong support at 200-day SMA Is bullion headed for a re-test of the crucial barrier? Gold experienced some losses after its advance got rejected at the downward sloping line that connects its recent lower highs. However, the 200-day simple moving average (SMA) capped the pair’s decline, with the short-term oscillators […]
Important data releases coming up as markets look ahead to next week’s key events Average earnings figures are expected to remain elevated, sounding an alarm at the BoE The main part of this week’s data will be released on Tuesday (06:00 GMT) The Bank of England prepares for next week’s meeting Central banks have put […]
USDJPY charted a bearish double top formation around the 147.75 bar and near ten-month highs before tumbling to 146.57 earlier today. Encouragingly, the 50-period simple moving average (SMA) kept selling pressure in control, helping the price to climb back into the 147.00 area. The RSI stayed within the positive area and the stochastic oscillator drifted […]
The US dollar has gone on a tear in recent weeks amid signs that the US economy remains resilient, in contrast to Europe and China that are rapidly losing steam. Whether this rally continues or suffers a setback will depend on the latest CPI report on Wednesday at 12:30 GMT. Overall though, the outlook for […]
Despite the Reserve Bank of Australia (RBA) leaving the door to further hikes open at its latest policy decision, investors are largely convinced that this Bank’s tightening campaign is already over, with the Australian dollar remaining largely a victim of concerns surrounding China. Will Australia’s employment report bring the aussie back to life? The data […]
This week has been a relatively quiet one for Bitcoin and cryptocurrency markets in general, with prices exhibiting low volatility amid fading investor interest. Much of the observed numbness is caused by the uncertainty in their regulatory framework, which has shifted funds towards traditional risky assets like stocks. Meanwhile, the macroeconomic backdrop does not seem to be […]
Ever wondered about stepping into the exciting realm of trading, but are unsure about how to take your first step? Well, look no further! We’ve designed two exceptional events in Mexico exclusively for you. Join our free seminars on How to Start Trading in Chihuahua – 7 October Tijuana – 14 October Christian Borjon, our […]
Apple concerns rock stock markets after China’s iPhone ban Dollar rally takes a breather as yields retreat, but outlook intact Gold creeps higher, helped by yields and sovereign purchases Trade risks hit markets The specter of the Sino-American trade war returned to haunt global markets this week, putting another risk on the radar screen of […]
The European Central Bank is headed for a crunch rate decision next week amid rising recession risks and the job on inflation not yet done. It’s going to be a big week for the US dollar as well, as the CPI and retail sales reports are due before the Fed’s September meeting. There’s a barrage […]
USDCAD bulls have been in charge for eight weeks in a row, currently aiming to push past the resistance trendline from 2020 that caused a bearish trend reversal in October 2022 and March 2023. Given the overbought signals coming from the RSI and the stochastic oscillator, it’s uncertain whether the pair will manage to extend its uptrend […]
On October 7 we will host an exclusive seminar in Santo Domingo, and you are invited! Our skilled expert for Latin America, Felipe Erazo, will teach you how to spot good entry and exit points and place better trades making use of popular support and resistance. By joining our free seminar, you could get the […]
GBPJPY is trading sideways today as the recent strong bullish pressure appears to have abated somewhat. A short-term bearish trend channel has formed as the bears are preparing to test the support set by the busy 180.81-183.09 region, hoping that any pullback achieved might not prove short-lived like the late-July 2023 price action. The bears […]
GBPUSD is giving a negative performance for the third consecutive day, extending its downtrend from July’s peak of 1.3141 to a new three month low of 1.2449. The ongoing bearish wave is currently testing the 1.2420-1.2470 restricted zone, flirting with the 200-day simple moving average (SMA) too. Technically, the market is approching oversold levels, according […]
On August 4th, XM donated to Free Food For All (FFFA) to support an exceptional program targeting Bedok, Singapore’s underprivileged community. “Dinner with 40 Individuals” is an empowering FFFA program that brings together 40 individuals from underprivileged backgrounds over a warm meal. This helps combat marginalization, foster community connections, and promote social inclusiveness. These 40 people […]
US service sector unexpectedly gathers momentum ECB officials keep a hike for next week on the table BoE Gov. Bailey says they are ‘much nearer’ to rate peak Wall Street slides as ISM PMI stokes inflation worries Dollar receives boost from ISM non-mfg PMI The US dollar ended Wednesday virtually unchanged against most of the […]
WTI oil futures (October delivery) have been in a steady advance since early July, generating a structure of higher highs and higher lows. Moreover, in yesterday’s session, the price climbed to a fresh nine-month peak of 88.08 before paring some gains. The momentum indicators currently suggest that the recent rally could be overstretched as both the RSI and the stochastic […]
USDCHF stepped above the 0.8890 restricted zone on Wednesday, fueling hopes that the recovery could pick up momentum during the next sessions. The technical indicators are endorsing the bullish scenario as the RSI and the MACD are clearly trending higher and above their neutral marks. The stochastic oscillator is sloping upwards too, though it has already […]
The US 30 cash index is recording another red candle as the bears are trying to push the index below the recent low of 34,024 and form a bearish structure of lower lows and lower highs. This appears to be the first proper reaction from the bears since the US 30 cash index set a […]
Although the Bank of England is expected to keep raising rates for a while longer, the pound has lost decent ground lately against its US counterpart as traders seem to have been paying growing attention to growth dynamics. With underlying inflation more than three times the BoE’s 2% objective, will BoE policymakers stay keen to […]
It is crystal clear that the United States has the superior economy at this stage of the cycle, especially when compared to Europe or China. And yet, this economic strength has not translated into a full-scale US dollar rally. What’s the missing ingredient for that to change? Growth differentials There’s been a striking divergence in […]
Moderna stock posted a successful rebound from the 33-month low of 94.70 it set in August, but its comeback attempt was thwarted by the 50-day simple moving average (SMA). The price is currently heading lower with momentum indicators also pointing down. The RSI has just slipped below the 50-neutral level, while the fast (%K) stochastic […]
Major US stock indices have rallied hard in 2023, with the Nasdaq 100 and S&P 500 gaining around 33% and 17% year-to-date, respectively. Surprisingly, this stellar performance has come in a period of rising interest rates, slowing economic growth and declining corporate earnings. As major economies are starting to feel the lagging effect of high […]
EURUSD could not crawl above its 200-day exponential moving average (EMA) on Tuesday and the 1.0800 level, plunging to a three-month low of 1.0705 instead. The line had been a critical support territory during 2023 and the price breakout below it puts the market at risk of a new bearish cycle. Weaker sessions are likely based […]
With economic numbers out of the Eurozone heightening recession concerns, and US data keep pointing to a superior US economy, the euro/dollar pair has been in a sliding mode recently. ECB seen holding its fire next week At the last ECB meeting, policymakers raised interest rates by a quarter point, but they did not commit […]
Gold came under fresh selling pressure after rising as high as 1,952 in the first trading day of September, exiting the rising channel in the four-hour chart and pulling back into the May-August bearish channel. The price is currently looking for a rebound around the 38.2% Fibonacci retracement of the 1,987-1,884 downtrend at 1,923, but the technical signals are not […]
On July 25th, we donated to the Voice for Voiceless foundation’s “Community Kitchen Project” to help provide 1,400 meals to children in need in Sri Lanka. The Voice for Voiceless foundation is a remarkable organisation that focuses on addressing the crucial issue of childhood hunger in Sri Lanka. It operates in nine different locations across […]
Yen hits 10-month low, triggers intervention warning Dollar traders turn attention to ISM non-mfg PMI Equities pull back, but stay in an uptrend mode BoC expected to stand pat, focus to turn on guidance Japanese official warns as dollar/yen gets closer to 148 The US dollar traded higher against all the other major currencies on […]
