Apple will unveil its second quarter financial results on Thursday, August 3, after Wall Street’s closing bell. Earnings and revenue figures are expected to have contracted on an annual basis as consumer demand seems to be fading across the globe. However, Apple’s stock has been in a relentless rally since the beginning of the year, […]
USDCAD started the month on the right foot, speeding towards the 50-day simple moving average (SMA) and closer to the 1.3300 round-level during the early US trading hours. It’s the second best performer among major dollar pairs, gaining 0.82% on the day. The positive trajectory in the momentum indicators is an encouraging sign that buying […]
CHFJPY has been steadily marching higher this year, reaching its highest levels in at least four decades, since official records began. The pair is currently challenging those record highs near the 164.00 area, a violation of which would propel the market into uncharted waters. On the weekly chart, momentum oscillators signal overbought conditions. The weekly […]
Employment numbers for July are due out of Canada on Friday (12:30 GMT), which will be the last before the Bank of Canada’s next policy meeting in September. Jobs growth has moderated somewhat in recent months, which might explain why the unemployment rate has started to edge up. The picture in July is unlikely to […]
The US 100 stock index (cash) rotated higher around its 20-day simple moving average (SMA) at 15,450 last Friday and above June’s high of 15,280, retaining confidence in its 2023 uptrend. Although the bearish doji at the top of the uptrend remains worrisome, the latest upturn keeps the focus on July’s 1½-year high of 15,896. The […]
AUDUSD tumbled on Tuesday after the RBA decided to refrain from lifting interest rates, with the pair falling all the way down to the low of July 28 at around 0.6620. Overall, the price structure remains of lower highs and lower lows below the downtrend line drawn from the peak of July 14, which keeps […]
We’re thrilled to announce that XM has been awarded platinum accreditation for the Investors in People Standard (IIP), the international standard for people management. We have also been shortlisted for Top 20 Overseas Employer of the Year Platinum organisations in the Investors in People Awards 2023. The IIP accreditation benchmarks against the best in the […]
We’ve done it again! XM has been named a Great Place to Work® by the international organisation that sets the benchmark for excellent workplaces. This year we’ve also came in 1st place for the ‘Best Workplaces’ listing and were included as finalists for the ‘European Best Workplaces’ category, which we ranked in 2nd last year […]
The latest edition of nonfarm payrolls will be released at 12:30 GMT Friday. Early indicators point to another solid employment report, which would reaffirm that the US economy remains far stronger than its competitors. This strength has not been reflected in the dollar lately, as other central banks raced ahead of the Fed in raising […]
This July, we hosted two seminars on How to Start Trading Forex in Tangier and Casablanca, in Morocco. Over the course of the seminar, participants learned about the forex market from the ground up. Two trading experts from the elite Tradepedia academy introduced them to basic concepts and demonstrated how to manage their trades on […]
Yen extends losses following BoJ’s surprise bond market intervention Aussie plunges after RBA holds rates, weak Chinese PMI weighs too Dollar stays supported, euro fails to capitalize on strong data No love for the yen from the BoJ The Japanese yen found itself in the familiar position of eyeing fresh lows against its major peers […]
Gold has been forming lower lows and lower highs over the past two weeks, with the 50-day simple moving average (SMA) preventing major declines once again along with the 20-day SMA near 1,945 last Friday. The price maintained its position above the broken bearish channel, which is a good sign for July’s upleg continuation. The progressing […]
EURCHF is trading sideways today, a tad above the new 2023 low of 0.9521 recorded on July 27. This was the lowest print of the pair since September 29, 2022 as the bears finally staged their much-anticipated breakout from the 10-month-old rectangle. However, the good news for the bears appears to stop here as the […]
GBPUSD has been in a prolonged uptrend since October 2022, storming to a fresh 15-month high of 1.3141 on July 14. Since then, the pair has been experiencing a mild downside correction, which seems to be faltering as the price has been directionless in the past few daily sessions. However, the momentum indicators suggest that bearish forces […]
Central bank meetings will stay in the limelight for another week, with the Reserve Bank of Australia (RBA) and the Bank of England (BoE) expected to follow their European and US pears in raising interest rates. On the data front, the US employment report might cause fresh swings in rate expectations as the Fed indicated a more data-dependent approach. […]
AUDUSD has flipped Friday’s loss and is currently aiming to return above its 50-day simple moving average (SMA) and the 0.6700 mark before the Reserve Bank of Australia’s rate announcement hits markets on Tuesday at 04:30 GMT. Despite the steep bounce in the price, uncertainty remains according to the RSI and the stochastic oscillator. The […]
With inflation in the UK slowing by more than expected in June and the July PMIs revealing that UK business activity continues to weaken, investors have become increasingly convinced that the Bank of England may need to slow down the pace of its future hikes and return to 25bps increments. The Bank meets on Thursday […]
EURUSD is edging higher today as it is trying to find its footing following an eventful week. The pair is hovering a tad below the busy 1.1032-1.1095 area and remains comfortably below the September 28, 2022 upward sloping trendline. The convergence of the 50- and 100-day simple moving averages (SMAs) persists and thus keeps the […]
On September 9, we will host a free, exclusive seminar in Quito, and all our clients, you included, are invited! Under the guidance of skilled expert Facundo Molina with 20+ years of experience in the financial markets, you will learn how to use the right tools based on your trading preferences and build a solid […]
Expectations of further Fed rate hikes evaporate after dip in core PCE Stocks rejoice but dollar stays in demand as yen’s comeback bid falters RBA decision coming up, BoE next on Thursday ahead of US jobs report Fed pause seen as a certainty after core PCE eases The markets’ conviction that the Fed’s July rate […]
Eurozone preliminary CPI inflation figures will take centre stage on Monday at 09:00 GMT after the ECB president Christine Lagarde clarified that future policy decisions will be made meeting by meeting based on incoming economic data. Forecasts point to a modest slowdown in inflation, but such a drop may not be enough for investors to […]
USDJPY is trading lower today after the BoJ loosened its yield curve control policy, but the slide remains limited near the key support zone of 137.25/80, slightly above the uptrend line drawn from the low of January 16. Overall, as long as the pair remains above that line, the probability of a rebound remains decent. […]
After a prolonged period of low volatility, Bitcoin experienced a strong pullback in the last couple of weeks. Having traded within the $30,000-$31,000 range for nearly a month, it dropped below the $29,000 mark for the first time since June 20 before recouping some losses. This latest retreat could be attributed to a wide range […]
The Bank of England and Reserve Bank of Australia will wrap up the summer central bank decisions in the coming week, although the US jobs report may nevertheless attract the most attention. The ISM PMIs will be the other highlights in the United States, while employment numbers are due in Canada and New Zealand too. […]
The Reserve Bank of Australia (RBA) will conclude its latest meeting at 04:30 GMT Tuesday. Economic developments have been mixed lately, so markets are only pricing in a 20% probability for a rate increase. As for the Australian dollar, the most crucial variable might be the power and scope of China’s stimulus measures, instead of […]
USDCAD has been in a range for the second consecutive week, unable to extend its rebound off a nine-month low of 1.3115 above the nearby resistance of 1.3225. The odds for a bullish extension are increasing, given the positive slope in the momentum indicators. But with the RSI fluctuating below 50 and the MACD remaining within the […]
Yen shines after BoJ makes ‘stealth’ changes to yield control Dollar also gains, boosted by strong US data and rising yields Euro sinks as ECB refuses to commit to further rate increases Yen recovers after BoJ move Bank of Japan officials loosened their grip on the nation’s bond market on Friday, propelling the yen higher […]
GBPJPY had been stuck in a prolonged uptrend since the beginning of the year, generating a structure of consecutive multi-year highs. However, the pair has been experiencing a downside correction in the short term after posting a fresh 7½-year peak of 183.99, with the price breaching a crucial ascending trendline. The momentum indicators currently suggest that […]
NZDUSD had been steadily gaining ground after finding its feet at the 2023 low of 0.5984, storming to a fresh 2023 peak of 0.6410 in mid-July. However, the pair quickly retraced lower, with the price bouncing off the 50-day simple moving average (SMA) before attempting to surpass the 200-day SMA. The momentum indicators currently suggest that […]
LTCUSD (Litecoin) experienced a massive surge on June 30, gaining more than 28% in a single session before posting a fresh 15-month peak of 114.90 three days later. However, the digital coin has been in a downside correction since then, forming a structure of lower highs, which has paused for now around the converging 50- […]
