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 […]
Crude oil was one of the top gainers for the week. The price continued to soar, reaching the highest level in three and half years. This was a continuation of a trend that started a week ago when the US president exited the Iran deal. Investors believe that the exit of the deal will affect […]
Japan 225 stock index has been fairly bullish over the past two months, printing higher highs and higher lows during the period to peak at levels last seen in early February. The bullish trend is expected to stretch into the short-term as long as the price manages to stay above the Ichimoku cloud and its […]
Bitcoin has fallen below $8,000. The major altcoins followed the “benchmark” cryptocurrency, losing between 5% and 10% of their value. Throughout the year, each time market participants have expected growth, the trend has reversed into a decline. Bitcoin in particular, after having experienced growth for 3 weeks and attempted to move above $10,000, is now […]
Yesterday, the USD/JPY pair was little moved as negative economic data from Japan was offset by the threats from North Korea. This morning, the pair moved high following a report on inflation that disappointed. The Statistics Bureau reported that the CPI grew by 0.6%, which was lower than the expected 0.7%. Last month, it had […]
As the US dollar continues to power ahead, the beleaguered euro and pound will be seeking for some reprieve from key economic indicators out of the Eurozone and the United Kingdom next week. With the US calendar being lighter in the coming seven days, the greenback may lose some steam, though the FOMC minutes could […]
The Turkish lira has continued to plummet so far in 2018, sinking to fresh all-time lows as a worrisome cocktail of economic developments diminished demand for Turkish assets. While a potential rate hike by the central bank may help to ease the selling pressure or even trigger a short-term rebound – for the lira’s decade-long […]
Mexican Peso The Mexican Peso (MXN) has continued to weaken on uncertainty surrounding the North American Free Trade Agreement (NAFTA), where there is still no deal in sight. Even if the government announces an agreement on NAFTA, any recovery may be short-lived, as attention will turn to the country’s election where the favoured candidate, Manuel […]
GBPJPY is paring some of Friday’s gains as over the last hours it is moving below its intraday high around 150.00. The price reached a new two-week high and is creating a bullish correction after the rebound on the 147.00 psychological level. In the 4-hour chart, the technical indicators are pointing to a neutral to positive bias with the […]
Here are the latest developments in global markets: FOREX: The US dollar index edged higher on Friday (-0.05%), approaching once again the 5-month high of 93.63. The greenback remains one of the best-performing currencies this week, drawing support from the surge in 10-year US Treasury yields. Dollar/yen jumped to a new 4-month high near the 111.00 handle, adding […]
The US 30 Index approached 25000.00 this week but has stepped back from that level to support at the 50-period MA. The index looks to be forming a continuation pattern but more data is needed to confirm this. The breakout from the red line was contested by bears a week earlier around 24400.00 and this […]
Here are the latest developments in global markets: FOREX: The US dollar index is lower today, but by less than 0.1%, giving back some of the gains it posted yesterday. The yen is on the back foot too, declining more than 0.2% against the euro and 0.05% versus the dollar, following disappointing inflation data out […]
USDCAD has been trading within the 20- and 40-day simple moving averages since Thursday’s session with weak momentum. The pair plunged below the 50.0% Fibonacci retracement level of 1.2925 of the downleg from 1.3800 to 1.2060 and is still holding above the 38.2% Fibonacci mark of 1.2725 during the current week. Looking at the daily timeframe, based […]
Overnight US Trade Representative Lighthizer issued a statement saying that the U.S., Mexico and Canada are “nowhere close to a deal”. This was counter to the statement by Canadian PM Trudeau yesterday who said “We’re very close” when asked about progress. The US had set a deadline for NAFTA to be agreed on by yesterday, […]
Canada will see the release of both inflation and retail sales figures on Friday at 1230 GMT, with investors looking eagerly for signs of further economic recovery that could increase chances for a tighter monetary policy this year, given the Bank of Canada’s data dependence. Forecasts are for headline inflation to remain elevated above the mid-point of the BoC target range in April, while […]
The Germany 30 index is looking set to record an eight straight week of gains, which have taken it above the 50-week SMA, following the rebound from the 11710 support. The sharp buying interest drove the price towards a new 15-month high of 13074.50, while the momentum indicators are supportive of the bullish picture. Looking at the daily timeframe, the RSI indicator holds above the […]
EURTRY is set to complete the third straight green week, while it reached a new all-time high of 5.3236 during Wednesday’s trading session, despite that it ended the day in the red. Currently, the pair is trying to pare yesterday’s losses, while the technical indicators are signaling further bullish movement. The positive bias in the daily chart is […]
The Canadian Dollar (CAD) is expected to see increased volatility, as markets await resolution on the North American Free Trade Agreement (NAFTA) negotiations and the release of key economic data on Friday. Today is the deadline set by House Speaker Paul Ryan for a notice of intent to sign a deal that could be passed […]
AUDJPY posted a four-week high of 83.36 earlier on Thursday, while it is currently trading not far below that peak. Indicative of the positive momentum is the fact the pair finished higher in five of the last six trading days, while it is looking set for a positive close today as well. Adding to the […]
The financial industry is one of the largest in the world. It is the backbone of most economies and if it fails, chances are that other industries will fall as well. This is because, the finance industry provides other industries with capital to grow business. They provide the capital knowing very well that the companies […]
Here are the latest developments in global markets: FOREX: The US dollar is set to extend its gains for the fourth day in a row against the Japanese yen (+0.25%). The pair posted a fresh 4-month high of 110.73 during the early European session as the long-term US Treasury yields continued to rally, touching 3.12%, the highest level […]
The second extensive seminar series started in Thailand this year will soon reach two further destinations: the cities of Phitsanulok and Hat Yai. Due to be held in Phitsanulok on 7 July and then in Hat Yai on 21 July, the seminar titled The Avramis Trend Reversals and Breakouts will be presented by acknowledged trading […]
Japan’s inflation figures for the month of April are due on Thursday at 2330 GMT. The numbers are expected to show an easing in core CPI, this being the measure targeted by the Bank of Japan in its policymaking, and point towards the direction of further monetary policy divergence between the Japanese and US central […]
The GBPJPY pair has rallied to the resistance trend line at 149.710, only to rebound lower and test Tuesday’s high at 149.182. The rally was the result of reports that the British Government is to maintain the Customs Union with the EU past 2021. While this is positive news, it does lead to questions about […]
NZDUSD has come under renewed selling pressure, falling below its 20-simple moving average (SMA) after the pullback on the 40-SMA in the 4-hour chart. Despite the latest bounce off, the pair has not posted a fresh lower low, yet, but the technical indicators are endorsing the negative pressure. Looking at momentum indicators, in the short-term […]
Here are the latest developments in global markets: FOREX: The US dollar index is lower on Thursday, albeit by less than 0.1%, still hovering near the five-month highs reached earlier in the week. The US currency barely rose yesterday even though the yields on longer-term US Treasuries continued to climb, reaching fresh multi-year highs. Elsewhere, sterling […]
On 12th May, the Investors’ Gala Night took place in Frankfurt, Germany, with the sponsorship of XM, which can be considered to be an event of major importance for all those interested in the world of online investing and finance. The prestigious gala night was organized on the premises of one of the most picturesque […]
