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 […]
USDJPY recorded a stunning sell-off rally last week and the bearish movement continues this week, with the price diving several times below the 108.65 support level. On Tuesday, the pair posted a five-week low of 108.10 and currently is trading slightly above this trough. The momentum indicators are endorsing the bearish structure in the short-term […]
• Natural Gas reversed from resistance level 3.000 • Further decline are likely Natural Gas recently reversed down from the resistance zone located between the round resistance level 3.000, upper daily Bollinger Band as well as the 61.8% Fibonacci retracement of the previous sharp downward upward impulse C from January. The downward reversal from this […]
The blue-chip Euro 50 stock index has been on the back foot over the past six days after spending a few days testing the 3 ½-month high of 3,593.70, reached first on May 17. At the moment there is not much evidence supporting that the downtrend could be nearing an end since the price is […]
EURAUD fell to a 4-month low of 1.5315 on Tuesday, coming close to touching the 50% Fibonacci retracement of the upleg from 1.4421 to 1.6190 between July 2017 and March 2018. The pair has reversed sharply from the more than two-year high of 1.6190 set on March 28. However, with momentum indicators having run into […]
The Canadian Dollar (CAD) has remained under pressure this week ahead of the Bank of Canada (BoC) interest rate announcement today. There is a small chance that the BoC will hike today however it is widely expected to hold interest rates at 1.25% as inflation has moved closer to the 2% target and economic growth […]
West Texas Intermediate (WTI) futures are on course for the second day of gains, which have driven the price towards the upper boundary of the narrow range with a resistance level of 67.30 and support barrier of 65.75. The trading range has been standing since Monday while the oil dropped below the 67.30 hurdle and started a sideways move. The RSI […]
The US Bureau of Economic Analysis will publish its latest monthly release on personal income and outlays on Thursday at 12:30 GMT. The report will contain closely watched data on personal income and consumption, as well as the PCE measure of inflation. With market fears of a major inflation overshoot having abated recently, Thursday’s figures […]
Here are the latest developments in global markets: FOREX: The single currency rebounded on Tuesday’s 10-month low near 1.1500 against the greenback (+0.67%) as concerns about Italy’s political crisis remains in focus and there is a chance of new elections taking place on July 29. In data, economic sentiment in the Euro area came in slightly higher than expected in May at 112.5 […]
• GBP/CHF falling inside short-term impulse wave C • Further decline are likely GBP/CHF continues to fall inside the short-term impulse wave C, which belongs to the medium-term ACB correction (4) from the middle of April. The price earlier broke through the support zone lying between the support level 1.3220, support trendline from the end […]
EURUSD The EURUSD pair has slipped to the levels of July 2017 just ahead of 1.15000 support. The pair is having a relief rally this morning but price is still trading inside the down trend of recent weeks. Yesterday’s low was 1.15096 and a loss of this supporting area would see prices extend towards 1.14579 […]
Joseph Stiglitz is one of the most respected economists in the world. He currently teaches Columbia University and is also one of the few economists to receive the Nobel Memorial Prize in Economic Sciences. Joseph Stiglitz has published multiple books on economics. In 2016, he published a book on Europe and the risks posed by […]
Crude oil had one of the best months in the recent past until it all came falling down. This month, Brent and WTI crude rose to the highest level in almost four years. Brent reached a high of $80.45 while WTI reached a high of $72.86. The surge in crude oil came after Trump exited […]
Chinese official PMI data for May are scheduled for release on Thursday at 0100 GMT. Manufacturing activity, which is expected to attract most interest, is anticipated to marginally ease though still remain in expansion territory. In the bigger picture, besides data releases, trade talks between the US and China continue taking place and have the […]
EURJPY steadied on Wednesday after an aggressive bearish rally in the previous six days. The common currency created an eleven-month low of 124.60 against the Japanese yen on Tuesday, while the price is paring some of the losses over the last couple of hours. The momentum indicators are supportive of the slightly bullish correction. In the 4-hour chart, the […]
Markets remain in risk off mode again today after Indices fell yesterday to the lowest levels since early May led by Europe as the Italian political crisis deepens. The Italian President vetoed the nomination for Finance Minister by the populist government last week. The resulting collapse in the coalition led to the President appointing former […]
Here are the latest developments in global markets: FOREX: The US dollar index is down by roughly 0.1% on Wednesday, giving back some of the gains it posted yesterday, when it touched its highest point since early November. Meanwhile, although the euro posted considerable losses yesterday, it has rebounded somewhat today, trading higher by 0.3% […]
AUDUSD has been underperforming in the past three days, following the touch on the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.7410, around 0.7580. Early this morning, the pair recorded a fresh two-week low of 0.7475 while it still trading below the 20-simple moving average (SMA) in the daily timeframe. Short-term momentum […]
Gold managed to bounce back above the 1300 key-level on Tuesday, though, the market continues to lack direction in the four-hour chart according to momentum indicators; the RSI continues to trend around its neutral threshold of 50, while the MACD is moving below its red signal line but above zero. In case the price corrects […]
The common European currency has plunged in recent weeks, as a combination of heightened political uncertainty in Italy, a slowing Eurozone economy, and an increasingly cautious tone by the ECB have taken their toll. In the midst of all this, the battered euro will look for some reprieve in Eurozone’s inflation data for May, due […]
On Wednesday at 1400 GMT, the Bank of Canada will announce its interest rate decision and issue its press release, explaining the factors behind the decision. For the fifth time, though, policymakers are expected to keep borrowing costs unchanged at 1.25% as NAFTA and the US trade agenda remain a source of uncertainty for the Canadian economy, while […]
• Cotton broke resistance level 0.9000 • Further gains are likely Cotton today rose sharply – breaking through the round resistance level 0.9000 (which reversed the price with the daily Japanese candlesticks reversal pattern Bearish Engulfing earlier this month, as can be seen below). The breakout of the resistance level 0.9000 is aligned with the […]
US equities are set to open lower as markets worry about political turmoil in Italy. The week has started with risk off sentiment in Europe due to the potential of an Italian election within a few months which could result in a win for populist parties that could lead to Italy leaving the Euro. However, […]
Here are the latest developments in global markets: FOREX: The euro continued to bleed as the European trading session unfolded, with euro/ dollar touching 1.1506 at its lowest, this being a nadir last experienced in July last year. Political uncertainty in Italy, and to a lesser extent in Spain, were seen as factors behind the […]
• EUR/JPY falling inside minor impulse wave 3 • Further losses are likely EUR/JPY has been falling sharply in the last few trading sessions inside the minor impulse wave 3 – which is a part of the longer-term downward impulse wave (3) from the end of April. Both of these impulse waves belong to the […]
GER 30 The German Index has fallen further today after the turmoil in Italian politics sparks a risk off mood in Europe and further afield. The upward trend lines were broken last week on the 4 Hour chart with the red trend line breaking at the 13000.00 level which was then used as resistance. The […]
On 19th May, a genuinely unique event was organized in Warsaw, Poland, which took place with the sponsorship of XM: the Annual Investors’ Gala. During the past few years, Poland has given place to numerous events hosted or sponsored by XM, whether for seminars or financial exhibitions, thus marking our company presence in Poland and […]
The start of the week’s trading took place around excitement in the political situation in Italy and the unsuccessful attempts of Crude Oil to rebound. The single currency’s rebound lost its steam after reaching the 1.1730 area. During the European session EURUSD lost just over 1%, coming close to the 6-month lows near 1.16. The […]
