The Japanese Yen (JPY) is benefiting from risk-off sentiment today with the USDJPY pair plunging below the 110.00 level. A number of factors are combining to trigger the move including geopolitical tensions in Iran, trade war rhetoric between US and China, political turmoil in Italy, and renewed concerns over North Korea. The US 10-year Treasury […]
The GBPUSD pair is on the back foot today after US President Trump was pessimistic on any potential deal with North Korea and expressed his displeasure with US/Chinese talks. The support at 1.34000 was broken today after Monday’s test with price accelerating its decline creating a new low for 2018. Support can now be found […]
EURJPY plummeted over today’s early European session, losing more than 200 pips after finding resistance at the 38.2% Fibonacci retracement level of the downleg from 133.50 to 129.2, near 130.85. This week, the pair is on the backfoot, creating a new nine-month low at 128.46 and the technical indicators in the 4-hour chart suggest that the market could ease more in […]
Here are the latest developments in global markets: FOREX: The US dollar index is 0.1% higher on Wednesday ahead of the release of the minutes from the May Fed meeting, building on the modest gains it posted yesterday. Meanwhile, the Japanese yen rebounded yesterday and is on the front foot today, advancing 0.5% against the dollar […]
Markets traded lower overnight as risk sentiment was dealt a blow by US President Trump who said that he was not pleased with how the talks with China went and that he was “not satisfied”. He also said that there was a “substantial chance” that the summit with North Korea in June “would not work […]
AUDUSD ended Tuesday’s session in the red after an aggressive bullish rally as it found strong resistance at the 0.7600 handle and at the 23.6% Fibonacci retracement level of the downleg from 0.8135 to 0.7410, around 0.7580. The price challenged a new one-month high of 0.7604 and approached the 40-day simple moving average (SMA). The […]
US flash IHS Markit Manufacturing Purchasing Managers Index (PMI) will come into focus on Wednesday at 1345 GMT to indicate whether April’s upturn in the manufacturing sectors stretched into May. If this is the case, an upbeat report could provide evidence that GDP growth in the world’s biggest economy may rebound in the second quarter, as analysts’ project. According to initial forecasts, the […]
The Fed will release the minutes of its May policy meeting on Wednesday, at 1800 GMT. Markets will likely look for insights on whether policymakers are willing to allow inflation to overshoot its 2% target without raising rates for a while, something they teased in the statement. A confirmation could push back on speculation for […]
Facebook stock prices have reversed back down again after finding resistance at the three-month high of 188.23 achieved May 11. The neutral picture in the very short-term outlook looks to last for a while longer after prices failed to break above the aforementioned high. The price is struggling below the 185.60 level and the technical indicators are moving with weak […]
AUDUSD and AUDJPY Analysis – May 22, 2018 The Australian Dollar was boosted after news that a trade war between the world’s two largest economies is on hold. China has agreed to purchase more U.S. goods in an effort to reduce the trade deficit with the U.S. which is placing on hold the previously announced […]
Here are the latest developments in global markets: FOREX: The US dollar eased from the 5-month high of 111.39 against the Japanese yen (-0.10%) reached on Monday on the back of rising US Treasury yields and easing US-China trade tensions. The US dollar index was on the back foot as well, losing 0.34% after a touch at […]
Flash PMI readings out of the Eurozone on Wednesday (due at 08:00 GMT) will be closely scrutinized by investors as they will be looking for signs that economic activity is picking up following a substantial slowdown between February and April. However, those hoping for an end to the soft patch are likely to be disappointed […]
The USDJPY has run into resistance at 111.391 and pulled back to the 110.838 level. A drop under this area can result in a retest of support at 110.000 but there is the falling red trend line to deal with first. It is possible that a retest of this trend line will be successful and […]
The EUR/USD is the most active currency pair in the world. This is because of how the American and the European economies are interconnected and interrelated. The pair started the year moving higher as the euro strengthened. Investors were optimistic that Europe would continue with the excellent performance it had a year ago. After rising […]
West Texas Intermediate (WTI) crude oil futures edge sharply higher, recording a new multi-year high of 72.70 during Tuesday’s early European session. The price jumped above the previous peak of 72.30 and the short-term technical indicators are endorsing the bullish scenario. From the technical point of view, the MACD oscillator climbed above its trigger line […]
This May the XM forex trading seminar road trip in Thailand reached two further event destinations: Khon Kaen and Ubon Ratchathani. The seminar topic titled The Moving Average Ribbon Technique was presented by Sompop Jittrakul in Khon Kaen on 5th May and then in the city of Ubon Ratchathani on 19th May. At both locations […]
Here are the latest developments in global markets: FOREX: The US dollar index, which measures the greenback’s performance against a basket of six major currencies, is trading practically unchanged on Tuesday. It briefly touched its highest levels for 2018 on Monday as trade frictions between the US and China were perceived to be diminishing, though […]
GBPUSD had a deep fall during Monday’s trading period as it dropped below the narrow range of 1.3450 to 1.3600, which had been holding over the previous two weeks. The price plunged to a new five-month low of 1.3389, however, price action is at the moment taking place not far above this trough. In the daily timeframe based […]
The USD weakened further overnight after the move began in the US trading session yesterday. USDJPY moved down under the 110.000 level after making a high of 111.389. The Macro background is mixed with tensioning increasing around Iran but positive tones coming from US/China negotiations and US/North Korean talks going ahead as planned. The Italian […]
This will be a decisive week for the British pound, as a raft of crucial economic data releases and remarks by BoE policymakers could make or break expectations around a potential rate increase at the August policy meeting. While economic forecasts are quite upbeat, other gauges of the UK economy are not as optimistic, which […]
NZDJPY has reversed back up again after finding support at the 11-month low of 75.60, achieved on March 23. This low is the lower boundary of the descending triangle in the long-term timeframe and currently, the pair is set to record the fourth consecutive green day. Momentum indicators are pointing north to a positive bias in the short-term […]
Here are the latest developments in global markets: FOREX: The US dollar advanced considerably versus the Japanese yen on Monday (+0.46%) after the US Treasury Secretary Steven Mnuchin said on Sunday that the US trade war with China is “on hold”. Dollar/yen created a fresh 4-month high at 111.38, while the US dollar index added 0.31% […]
U.S. equities are set to make gains after news that a trade war between the world’s two largest economies is on hold. The Treasury secretary, Steven Mnuchin, reported on Sunday that negotiations with China have progressed saying, “We’re putting the trade war on hold, right now, and we have agreed to put the tariffs on […]
After a bumper year in 2017, investors started the year with increased optimism and caution. The year started with the new tax cuts, which were announced by the United States. The president signed the bill into law, which led to the announcements of increased bonuses and investments. YTD, salaries and wages have grown, albeit marginally […]
On Friday, the US stock markets ended mixed as tensions on global trade grew. The rising treasury yields also contributed to the mixed reaction on the stock markets. During the weekend, several major things happened. First, Venezuelans went to an election to elect their new leader. As expected, Nicholas Maduro won the election by a […]
Last year, the Jacob Zuma regime ended after being outed by his vice president, Cyril Ramaphosa. This brought optimism to a country that had seen its economy mismanaged by a corrupt president. This led the South African rand to strengthen against the dollar, reaching a low of 11.4. This was the lowest level for the […]
US Treasuary Secretary Steve Mnuchin gave an interview on NAFTA over the weekend where he said that President Trump is “more determined to have a good deal than he’s worried about any deadline”. He spoke about the US acceptance of the deadline slipping into 2019 once the right deal for the US is achieved. USDCAD […]
Gold is on course to post a strong trading day of losses, which have taken the price towards a fresh five-month low of 1281.96. The sharp sell-off, especially in the past week, has shifted the near-term bias from neutral to negative. The momentum indicators are supportive of the bearish picture in the 4-hour chart. The […]
Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – was 0.3% higher on Monday, touching a fresh high for 2018. Meanwhile, the safe-haven Japanese yen continued to lose ground, weighed on by signs that trade tensions between […]
EURUSD has come under renewed selling pressure over the last five trading days, slipping below the 1.1820 key level. The price remains under pressure and risk is still to the downside as prices continue to drift lower, hitting a new 5-month low of 1.1739. The short-term technical indicators are bearish, pointing to more weakness in […]
