We would like to inform our clients that due to National Day of Sweden, Queen’s Birthday, Dragon Boat Festival, and Midsummer’s Eve all of which will take place in June, the trading hours of various instruments will be affected on 6, 11, 18, and 22 June 2018. Please view the tables below to see which […]
In May, the EUR/USD pair dropped by more than 2.65% as the dollar strength continued. The decline was attributed to the political risks in the EU and the risks about trade. It was also attributed to a slightly dovish ECB. This month, the issue of trade will continue being a thorn in the flesh for […]
This week, the biggest news came from Italy, the fourth largest economy in the European Union (EU). The country has had no government since the election was held in March. After the election, the two main parties – Five Star Movement and League – negotiated to form a government. On Monday, they announced the economy […]
May was a consequential month for the financial markets. During the month, the US administration exited the Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran deal. This was an important deal signed between Iran and the largest economies in the world. The US exited and announced that it would reintroduce the sanctions […]
Trade figures will dominate next week’s calendar with a number of nations publishing monthly data, though they’re unlikely to attract as many headlines as US protectionism as trade risks appear to be on the rise again. The Australian dollar will be in focus for much of the week as the Reserve Bank of Australia holds […]
Recent developments have seen oil prices correct lower, amid speculation that major OPEC and non-OPEC producers may soon “open the taps” and raise production to offset supply losses from Iran and Venezuela. While the final decision will be taken at the June 22 OPEC meeting, prices are likely to move well ahead of that time […]
Cisco stock price has declined considerably after touching the multi-month high of 46.30 on May 10. Currently, the price is developing near the rising trend line and the 23.6% Fibonacci retracement level of the upleg from 30.30 to 46.30, near 42.55, while the simple moving averages (SMAs) are ready to meet each other to create a bearish […]
Here are the latest developments in global markets: FOREX: The US dollar edged higher by 0.38% on Friday against the Japanese yen and jumped above the 109.00 psychological level ahead of the US employment report for May later in the day. It is the last NFP data before the June Fed meeting. The US dollar index – which […]
• Sugar broke resistance zone • Likely to rise further Sugar continues to rise inside the impulse wave C, which previously broke through the resistance zone lying between the key resistance level 0.125 (which reversed earlier waves (iv) and (i)), 100-day moving average and the 50% Fibonacci correction of the previous downward impulse from February. […]
Trading today will be dominated by the release of the US employment report which is expected to show a modest growth in jobs and wage inflation. Non-Farm Payrolls numbers for the month are expected at 188K while Average Hourly Earnings are expected to have grown to 0.2% month-on-month from a prior 0.1%. It would take […]
• EUR/JPY reversed from support zone • Further gains are likely EUR/JPY recently reversed up sharply from the support zone lying between the major support level 125.00 (former key resistance level from May and June of 2017), support trendline of the daily down channel from February and the lower daily Bollinger Band. The upward reversal […]
EURJPY The EURJPY pair is at an interesting spot today, retesting the broken black support trend line as resistance at 127.792. The implication here is that a failure to break back higher will drive price to new lows. After falling below the 127.000 area on Wednesday price entered a barren zone on the chart where […]
GBPJPY is approaching again the 40-simple moving average (SMA) in the 4-hour chart after the strong rebound on the eight-month low of 143.20 that was reached on May 29. Moreover, the price successfully surpassed the 20-SMA and remains in positive territory. From the technical point of view, the positive bias in the near term is further supported […]
Here are the latest developments in global markets: FOREX: The US dollar index is a little more than 0.1% higher on Friday, ahead of the release of the always-important US employment report at 1230 GMT. Elsewhere, the Canadian dollar dived yesterday following discouraging news on the trade front, while the euro continued to regain ground as […]
The US confirmed yesterday that it is imposing tariffs on Steel and Aluminium imports, at 25% and 10% respectively, from the EU, Canada and Mexico. Markets reacted by dumping risk assets but there has been a slight buy the dip as US stock markets finished off their lows. Further moves lower are expected in risk […]
USDCAD remains above the simple moving averages in the daily timeframe over the last six days suggesting that the pair is ready for a bullish extension. After the aggressive sell-off on Wednesday, the price pared some of the losses and jumped above the 50.0% Fibonacci retracement level of the downleg from 1.3800 to 1.2060, around 1.2925, once again. […]
• EUR/USD reversed from support zone • Further gains are likely EUR/USD continues to rise after the earlier upward reversal from the support zone lying between the major support level 1.1550 (which reversed the price in November) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks […]
GBPAUD has declined considerably after touching a two-year high of 1.8507 in late March. During Thursday’s trading, it posted a four-month low of 1.7516, while it is currently not far above that nadir. The negatively aligned Tenkan- and Kijun-sen lines serve as a testament to the negative short-term momentum that is in place. The Chikou […]
Crude oil prices eased this morning following a rally in the previous session after a surprise build in crude inventory reported by the American Petroleum Institute (API). The API data on Wednesday reported a build of 1 million barrels in US crude inventory for the week. Focus will now turn to inventory data reported by […]
GBPUSD has advanced after the pullback on the six-month low near the 1.3200 psychological level. The price started Wednesday’s trading session above the 50.0% Fibonacci retracement level of the upleg from 1.2100 to 1.4375, suggesting that the market would increase bullish movements. Looking at momentum indicators, the RSI is moving higher, having crossed above the 30-oversold level. In […]
The Dow Jones Industrial Average is one of the largest indices in the world. The companies that make the index have a combined market capitalization of more than $23 trillion dollars. The biggest of them is Apple which has a market valuation of $953 billion while the smallest is the Travelers Group which has a […]
Here are the latest developments in global markets: FOREX: The euro extended its gains on Thursday by 0.33% against the US dollar as Italian bond yields fell amid signs that Italy is trying to form a government, potentially avoiding an early election. In terms of data, the Eurozone CPI rose by 1.9% y/y in May above April’s growth mark of 1.2%, while […]
After trading almost solely on politics over the past few days, financial markets will probably turn their gaze back to economics on Friday, when the US releases its employment data at 1230 GMT. Forecasts point to a solid report overall, which could cement market expectations for a June hike – that has come under some […]
• AUD/CAD falling inside minor correction 2 • Further losses are likely AUD/CAD recently reversed down from the resistance zone lying between the resistance level 0.9850 (top of the previous correction 4), upper daily Bollinger Band and the 38.2% Fibonacci retracement of the previous downward impulse C rom March. The downward reversal from this resistance […]
USDCHF has lost 2% of its value after reaching a one-year high of 1.0056 in early May. Earlier on Thursday, the pair touched a one-month low of 0.9847. The RSI continues to fall, having crossed below the 50 neutral-perceived level. This is indicative of the bearish short-term bias that is in place. The region around […]
USDJPY The USDJPY pair ran into resistance at 111.390 earlier this month on its attempt to reach 112.000. Price has been pushed down to 108.100 area support this week and has retested the previously supportive trend line as resistance yesterday at 109.052. Today’s low found support at the 108.539 level so far but a loss […]
NZDUSD has surged to a new three-week high above the 0.7000 strong psychological level during today’s European session, pausing the downtrend. The technical indicators are sending bullish signals, suggesting that a bullish correction is in the process. From the technical point of view, in the 4-hour chart, the RSI indicator is moving slightly higher, indicating that the […]
Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance versus a basket of six major currencies – was down by 0.2% on Thursday, extending the losses it posted the previous day. The pullback was mainly owed to a rebound in the euro, the currency that holds […]
This week, the biggest economic data will be released tomorrow. The US labor department will release the jobs numbers for the month of April. Traders expect the non-farm payrolls to grow to 184K, from last month’s 164k. They expect the unemployment rate to remain at 3.9% and the participation rate to improve to 62.9%. The […]
Reports in the Washington Post today are suggesting that US President Trump plans to announce metal tariffs on Mexico, Canada and Europe set to come into force as early as tomorrow. The deadline for the EU’s relief from US tariffs expires tomorrow, June 1st. There has been a muted market reaction to the rumour but […]
