Economic growth in the UK might have slowed down in the first quarter of 2018 as the heavy snowfall in February and in March kept consumers indoors, weighing on household spending. While this could be proven temporary later in the second quarter, another data miss this month could further cast doubt on whether a rate […]
The US will see the release of its advance Q1 2018 GDP growth estimate on Friday at 1230 GMT. Economic activity is projected to have slowed considerably relative to the previous quarter, though the softness is unlikely to trouble Fed policymakers much. According to analysts’ forecasts, the preliminary GDP growth rate for the first quarter […]
Exxon Mobil stock price has been creating a bullish correction movement after it touched a more than two-year low of 72.10 in early April. Prices broke above the 38.2% Fibonacci retracement level near 78.64 of the downleg from 89.20 to 72.10 and are trading above their simple moving averages in the daily timeframe. The bullish picture is […]
Here are the latest developments in global markets: FOREX: The dollar index continued to trade near 3 ½ -month highs reached yesterday in the early European session on Thursday as the 10-year Treasury yields remained above 3.0% for the first time in four-years, last seen at 3.02%. Dollar/yen retained strength above the 109 key-level, with easing […]
NZDUSD has come under renewed selling pressure, completing a new 4-month low of 0.7055 earlier today. The pair has been plunging over the last seven trading days, losing more than 300 pips. Furthermore, the price slipped below the significant level of 0.7140, signaling a strong bearish sell-off. Looking at momentum oscillators on the 4-hour chart, they suggest a […]
The Bank of Japan will announce its latest monetary policy decision on Friday after concluding a two-day meeting. The announcement could easily be a non-event as the Bank is widely expected to keep policy unchanged and not make any significant changes to its quarterly economic forecasts, which are published the same day. However, investors shouldn’t […]
The EURJPY pair attempted to reach the 133.500 level this week but has dropped back to form a triangular pattern. This is forming inside a larger wedge pattern, marked out here with blue trend lines, and the recent high formed the third touch on the top line of this pattern. A break higher above the […]
Corn is one of the most popular crops in the world. In many countries, corn is a staple food while in the developed countries, it is used both for food and ethanol production. United States is one of the biggest producer and consumer of corn. This year, corn has been one of the best performing […]
Here are the latest developments in global markets: FOREX: The US dollar index inched lower on Thursday, but by less than 0.1%, giving back some of the gains it achieved yesterday on the back of surging US bond yields. The euro was relatively steady ahead of today’s main event, the ECB’s monetary policy decision, while both […]
We would like to inform you that due to Labour Day, Constitution Memorial Day, May Bank Holiday, and Ascension Day, all of which take place in May, the trading hours of various instruments will be affected between 1 and 10 May 2018. The normal trading hours will be resumed from then on. Please review the […]
USDJPY extends its gains after the penetration of the 108.20 strong barrier during Monday’s session. Earlier today the price recorded a fresh more than two-month high of 109.46 and has added more than 250 pips over the last six trading days. From the technical point of view, in the daily timeframe, the price is developing well above the 50-day […]
Markets were choppy yesterday as 10-year US notes went above 3%, but after creating new lows for the week, stock markets rallied with much of this move extending into the Asian session. The USD strengthened further, with USDJPY reaching the key 109.500 level and GBPUSD consolidated under 1.40000. The EUR settled into a tighter range […]
Social networking giant Facebook is scheduled to release its earnings report for the first quarter of the year after Wednesday’s US market close. The consensus recommendation for the company is “buy”, in line with the average consensus recommendation for the Online Services peer group. This is the first report by the firm after the Cambridge Analytica […]
The European Central Bank (ECB) will announce its policy decision on Thursday, at 1145 GMT. No change in either policy or guidance is expected, so price action in the euro will likely be dictated by the signals from President Draghi and other policymakers at the subsequent press conference, at 1230 GMT. Considering the softness in […]
US Crude supported by 67.53 level WTI Crude price action favoured Bears yesterday, after the release of weekly API numbers, which showed a build of nearly 1.1M barrels. Today, at 15.30 GMT, markets will react to the Weekly EIA Crude Oil change which is currently showing a forecast of -2,043M from a previous of -1.071M. […]
Time Warner has been consolidating since November 2017 and has been stuck in a channel tilted to the upside. The positive picture in the medium term is at risk of becoming neutral after prices failed to break the 97.50 resistance level several times in the past. In the daily timeframe, the RSI indicator is sloping […]
Whether you are a new or experienced trader, developing a culture of reading will be invaluable to you. It will help you improve your trading skills and learn from the mistakes of other traders. It will also equip you with the insights you need to know about the markets. Here are some of the best […]
Here are the latest developments in global markets: FOREX: The dollar continued to receive love from US Treasury yields, with the 10-year note spiking to a fresh 3-year high of 3.02% during the early European afternoon, underpinned by concerns of rising inflation and increasing debt supply. Easing trade tensions also lifted investors’ confidence in the […]
The USDCAD pair has returned to the previously broken red trend line and is consolidating in the area around 1.28363. A break higher targets today’s high at 1.28641, followed by 1.28940 and the area of resistance containing the recent highs, starting at 1.29200 up to 1.29300. A move that is sustained over this zone could […]
EURJPY has advanced considerably following the rebound on the 132.10 support level, which coincides with the rising trend line. The ascending movement has been holding since March 23, creating a bullish correction of the major bearish movement in medium-term. During yesterday’s session the pair recorded a new more than two-month high near 133.50, however, currently, the […]
S&P 500 is the biggest index in the world. It has a combined market value of more than $23 trillion. On the other hand, the Dow Jones Industrial Average has a market capitalization of more than $6 trillion while Germany’s DAX has a market cap of less than $1 trillion. As such, S&P is the […]
Here are the latest developments in global markets: FOREX: The US dollar index is 0.2% higher today, hovering just below its four-month high posted earlier in the week, as the continued rise in longer-term US bond yields has breathed some life back into the world’s reserve currency. Both the aussie and the kiwi are 0.45% […]
AUDUSD recorded a stunning bearish rally over the last four trading days, penetrating the medium-term ascending trend line, which has been standing since January 2016. Also, the price posted a fresh more than 4-month low of 0.7569 during today’s early European session. The aggressive bearish correction started after the pullback on the 32-month high of 0.8135 and […]
Started in March this year in Thailand, the spring seminar road trip of XM on CFD trading continued its way, reaching two further cities: Chonburi on 7th April and Korat on 21st April. The topic title The Moving Average Ribbon Technique was presented by acknowledged trading instructor Sompop Jittrakul in both Thai cities, where we […]
The market turned yesterday as the 3% level on the US 10 Year was tested and the 2-10 yield spread climbed from multi-year lows set earlier in the month. This caused some weakness in the USD, although it has regained some strength this morning. Equities were down over 1% yesterday in risk-off markets, with USDJPY […]
The US dollar broke above the 109-yen level for the first time since early February this week, taking the dollar bears, who have been betting on more losses for the beleaguered greenback, by surprise. The sudden shift to a more bullish sentiment, in the short term at least, comes amid a surge in US Treasury […]
The total crypto market cap has exceeded the $400 billion mark for the first time since March 8. This time, the major altcoins are leading the growth, while Bitcoin has demonstrated a moderate dynamic. It is likely that recent optimism has inspired investors, who see altcoins as a cheaper and more comfortable way to invest […]
The Australian Bureau of Statistics (ABS) released the consumer prices data for the first quarter. This is a very important set of data because it tells investors, traders, and policy makers about the status of inflation in the country. The data missed what investors were anticipating. In the quarter, consumer prices rose by 0.4%. This […]
Plane-maker Boeing will be releasing its earnings report for Q1 2018 before Wednesday’s opening bell on Wall Street. The consensus recommendation for the company is “buy”, matching the average consensus recommendation for Aerospace & Defense, its peer group. The Chicago-headquartered firm is forecast to have made $2.58 in earnings per share (EPS) during the first […]
Soybean futures for May delivery have already erased half of their gains made from April 3 to April 14 and are now consolidating losses near three-week lows in the four-hour chart. In the short-term, the downward pattern could remain in place as long as the SMAs trend to the downside and prices hold below them. Still, […]
