With the UK jobs report coming in line with forecasts, with the unemployment rate remaining at its lowest since the 1970s and average earnings inching down, the next challenge for sterling will come on Wednesday when the Office for National Statistics is scheduled to report June’s inflation readings before it updates retail sales figures for the same month on Thursday. While inflation is […]
• CHFJPY broke resistance zone • Likely to rise further CHFJPY recently broke through the resistance zone lying between the key resistance level 112.00 (which has reversed the price multiple times from March) and 38.2% Fibonacci correction of the previous downward impulse (3) from February. The breakout of this resistance zone accelerated the active short-term […]
• WTI broke support zone • Likely to fall further WTI recently broke below the support zone lying between the round support level 70.00 and 50% Fibonacci correction of the previous sharp upward impulse 3 from June. The breakout of this support zone accelerated the active short-term impulse wave C which belongs to the ABC […]
Platinum is one of the most important industrial metals in the world. It is used in large machines and vehicles as a catalytic converter. It is found in most combustion engine vehicles. Platinum is also seen by some investors as being a precious metal though it does not come close to gold. In countries like […]
The Australian Dollar rose against the US dollar today after the Reserve bank of Australia (RBA) released the minutes of the monetary policy meeting held on 3rd of July. In the minutes, the officials reiterated their confidence on the country’s economy. In the first quarter, the country’s GDP rose by 3.1 per cent which was […]
Australian employment data for June will hit the markets on Thursday, at 0130 GMT. The forecast is for another solid jobs report, which would confirm the RBA’s view that the labor market continues to tighten and could help the aussie rebound somewhat. Besides economic data, the other major consideration for the battered Australian currency will […]
IBM’s earnings report for Q2 2018 will be made public after the closing bell on Wall Street on Wednesday. The consensus recommendation for the company is “hold”, which negatively compares to the “buy” average consensus recommendation for the IT Services & Consulting peer group. The multinational tech company is anticipated to have made $3.04 […]
Goldman Sachs stock price turned bullish as it penetrated the descending trend line to the upside and hit the 50-day simple moving average (SMA), which is acting as a strong resistance level for the bulls. The latest price movement shifts the bearish picture to bullish and the short-term technical indicators are confirming the scenario for upside pressure. […]
Here are the latest developments in global markets: FOREX: The US dollar was trading higher at 112.48 against the Japanese yen (+0.20%) ahead of the Federal Reserve Chairman Jerome Powell’s semi-annual testimony on the economy and monetary policy. Overall, the dollar index was weaker against a basket of six major currencies (-0.03%) and is set to post the […]
On Monday, the dynamics of oil was in the spotlight on a combination of negative factors by both the potential demand and the supply part. Asian markets lose 0.5%-0.7% on Tuesday morning. After returning to the highs area since March, the American S&P 500 lost growth momentum in anticipation of further signals from the economy […]
WTI futures for August delivery recorded a fresh more than three-week low of 67.56 on Monday, while the sharp bearish run started following the pullback on the 74.64 resistance level last Tuesday. Also, the price plunged below the 61.8% Fibonacci retracement level of the upleg from 63.37 to 75.24 of 67.90, indicating that a bearish movement is in play […]
Here are the latest developments in global markets: FOREX: The US dollar index is lower by 0.14% on Tuesday, ahead of a testimony by Fed Chairman Jerome Powell before the US Senate at 1400 GMT. Elsewhere, kiwi/dollar is up by 0.77%, following encouraging core inflation data out of New Zealand overnight. STOCKS: US markets closed mixed on Monday. While […]
GBPUSD has been trading in a neutral mode over the last couple of days after the rebound on the lower Bollinger Band near 1.3100 on July 13. The price seems to be losing its strong negative momentum as the Bollinger Band is narrowing and suggests that the next movement will be sideways. It is worth mentioning that the cable is […]
XM will host an intensive trading seminar in Bangkok, Thailand, on 15th September, where we look forward to welcoming all our existing and new clients who wish to develop their trading practices with professional guidance. The one-day seminar, due to take place at Swissotel Le Concorde Bangkok, features two highly acknowledged trading professionals as events […]
The UK’s Office for National Statistics will publish its latest stats on the labour market on Tuesday at 08:30 GMT. The report will be the first of three major releases out of the UK this week, which come just a fortnight before the Bank of England’s August monetary policy meeting. With rate hike expectations rising […]
Netflix’s Q2 2018 earnings report will be hitting the markets after Monday’s US market close. The consensus recommendation for the company is “buy”, matching the average consensus recommendation for the Online Services peer group. The provider of subscription-based streaming services is forecast to have made $0.79 in earnings per share (EPS) during the quarter […]
One significant event to look out for today is the second quarter inflation report to be published tonight at 22:45 GMT. The markets are forecasting an additional 0.5% QoQ which translates into a 1.6% annualized inflation rate. This rate is below the 2% mid-point rate of the RBNZ’s 1-3% target rate. Unless, the data published […]
New Zealand will see the release of its quarterly inflation data for Q2 on Monday, at 2245 GMT. Consensus expectations are for a solid rebound in the CPI rate, which although may be owed largely to energy effects, would still be slightly higher than what the RBNZ projected in its latest forecasts. Overall, the kiwi […]
Bank of America stock price has been holding within a bearish correction mode as it found a strong resistance obstacle on the 33.00 handle in mid-March. A “death cross” is in progress as the 50-day simple moving average (SMA) falls below the 200-day SMA to indicate that lower prices lie ahead. From the technical point of view, […]
Here are the latest developments in global markets: FOREX: The US dollar was trading below the 6-month high of 112.79 today against the Japanese yen, but managed to add some gains to its daily performance (+0.02%) ahead of the release of the US retail sales later in the day. The dollar index, which gauges the greenback’s […]
• USDCHF reversed from resistance zone • Likely to fall further USDCHF recently reversed down sharply from the resistance zone lying between the key resistance level 1.0050 (which stopped the sharp uptrend in May) and the upper daily Bollinger Band. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Shooting […]
• Copper reversed from resistance zone • Likely to fall further Copper today reversed down from the resistance area located between the pivotal resistance level 2.7940 (former strong support from the start of July) and the 50% Fibonacci correction of the previous downward impulse 3. The downward reversal from this resistance zone started the active […]
Gold dipped to a fresh one-year low of 1236.27 during Friday’s trading session and posted a strong negative day, while it closed well above its intraday trough. Zooming in the 4-hour chart, the price today found a significant hurdle on the 20-simple moving average (SMA) and failed to jump above it. The technical indicators are sending different signals with […]
Last year, copper was one of the best performing assets in the world as traders placed their hopes on an accelerating economy and increasing demand from auto manufacturers. They were right. The global economy had one of the best years with synchronized growth in the emerging and developed markets. This year, a strong dollar has […]
Last week, the focus among traders, investors, and policymakers was in Europe, where Donald Trump travelled for meetings with American allies. The first meeting was with the NATO leaders where he condemned the countries for low spending on defence. He singled out Germany for paying a lower fee to defence and for building a gas […]
Last week, geopolitical issues were the main focus of traders. This week, the focus will turn to economic data and some geopolitical news. Trump-Putin Meeting After making news the entire week, Donald Trump will continue being the headliner for the week. Today, he will meet with his counterpart from Russia in Helsinki, Finland for what […]
Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.1% on Monday, extending the losses it posted in the previous session as longer-term US Treasury yields tumbled. The Japanese yen, meanwhile, is slightly lower against all its major counterparts on Monday, amid a lack of escalation in trade tensions. STOCKS: US markets […]
EURUSD remains below the strong resistance level of the 23.6% Fibonacci retracement level around 1.1760 of the downleg from 1.2550 to 1.1510. However, since yesterday the world’s most traded currency surpassed the 20- and 40-simple moving averages (SMAs) in the daily timeframe, suggesting a possible upside correction. From the technical point of view, the technical indicators are […]
• NZDUSD reversed from resistance zone • Likely to fall further NZDUSD continues to fall inside the (b)-wave of the minor ABC correction 2 from the start of July. The active (b)-wave started previously from the resistance zone surrounding the powerful resistance level 0.6850 (former powerful support from May and June). The resistance zone near […]
• Soy broke multi-year support level 8.5100 • Likely to fall further Soy recently broke below the powerful, multi-year support level 8.5100, which has been repeatedly reversing the price from the end of 2015, as can be seen from the weekly Soy chart below. The breakout of the support level 8.5100 should further accelerate the […]
