ADP Employment Change will be released later in the US, with an expectation for an additional 205K jobs added to the economy. This comes in a series of releases over the last three months showing strong additions since January’s 250K, with 234K and 235K following. It is interesting to note that, on these three occasions, […]
The Aussie continued to climb this morning following the release of the retail sales. For the month of February, the MoM retail sales increased by 0.6%, which was higher than the 0.3% and last month’s 0.2%. This was a surprising increase coming a day after the Reserve Bank of Australia (RBA) left interest rates unchanged. […]
Wednesday’s economic calendar might bring somewhat positive news to the European Central Bank, with figures on Eurozone’s inflation and unemployment rate bringing policy normalization closer in sight. Preliminary consumer prices for the month of March will attract the most attention on Wednesday at 0900 GMT as these will show whether price pressures have strengthened enough to lift inflation one step towards the ECB’s target of 2.0%. The headline CPI […]
The UK will see the release of March PMI figures for the construction and services sectors on Wednesday and Thursday respectively, both at 0830 GMT. The figures, especially the one for the dominant-for-the-UK-economy services sector, have the capacity to steer the probability of an interest rate hike by the Bank of England when it next […]
The crypto market, including Bitcoin, has started the week on the front foot. According to CoinMarketCap, Bitcoin has surged 6% in the last 24 hours. It has overcome the threshold at $7K to trade around $7,400. It is worth noting, however, that Bitcoin’s growth may be short-term. It has been learned that 10,000 BTC were […]
U.S. Equity markets dropped sharply on Monday as investors sold technology shares amid resurgent worries over a trade war. The sell-off started after China retaliated against Trump’s tariffs on steel and aluminium with their own tariffs of 25% on $3bn in food imports from the U.S., raising the prospect of a trade war between the […]
The US 500 index had a rough bearish ride over Monday’s trading session, as the index extended its losses and ended the day below the significant 200-day simple moving average (SMA). The bullish picture in the medium-term seems to weaken as there are some signs of a bearish correction. The technical structure supports that the downward retracement is likely to […]
The gold chart is showing what appears to be a bull flag forming, with yesterday’s strong rally giving hope to gold bulls that we may see a move higher in the near future. To achieve this they would need to take price above the falling trend line top at 1355.50 and force a breakout above […]
As expected, the Reserve Bank of Australia (RBA) left interest rates unchanged at 1.50%. As a result, the Australian dollar rose by almost 0.40% against the dollar. In the accompanying statement, the RBAS said that the global economy was growing as expected. The economic growth, coupled with the unemployment rates are improving around the world. […]
The Canadian Dollar is gaining against the U.S dollar following a report that Donald Trump was planning to push for an initial deal on NAFTA. The North American Free Trade Agreement has been a thorn in the Trump administration’s side. During the campaign, he promised to cancel the agreement for being better for Canada and […]
Here are the latest developments in global markets: FOREX: The US dollar traded higher against the Japanese yen by 0.24% after three days of declines. However, the dollar index – which measures the greenback’s performance against six major currencies – fell by 0.10% on Tuesday, and is currently hovering just below the 90.00 handle. Euro/dollar was […]
WTI has reversed back down again and plummeted aggressively after finding resistance at the 65.40 level during yesterday’s session. The price recorded a new two-week low of 62.75, which holds near the 20-day simple moving average (SMA) and currently, is paring some losses. After their deep fall, in the 4-hour chart, the momentum indicators are […]
Here are the latest developments in global markets: FOREX: The US dollar traded 0.1% lower against a basket of six major currencies on Tuesday. Yesterday, the major mover was the Japanese yen, which surged on safe-haven demand, as trade concerns remained at the forefront. The Canadian dollar also gained amid speculation that the NAFTA talks […]
GBPUSD is trading marginally higher over the last couple of days following the rebound from the 1.4000 strong psychological level, which holds near the 20-day simple moving average (SMA). This week, cable is paring some of the previous week’s losses and is shifting the tendency back to bullish. Having a look at the medium-term timeframe, the pair has been […]
On 10th and 31st March, Malaysian online investors had once again the opportunity to acquire useful knowledge and improve their trading strategies with the professional forex trading seminars hosted by XM throughout Malaysia. On 10th March we were honored to welcome seminar guests at Grandis Hotel in Sabah, and then on 31st March at Cititel […]
The UK Markit Manufacturing PMI is one of the data releases that will give traders a look into the performance of the European Manufacturing sector today. Most of the PMIs from across the continent are expected to show a softening. This is due to supply chain constraints and shortages of inputs, which have caused a […]
EURAUD is rising for the second straight day and is – at the time of writing – up by 0.2% during Monday’s trading. The Tenkan- and Kijun-sen lines remain positively aligned in support of a bullish bias in the short-term, though they’re both more or less flat at the moment. The latter is an indication […]
CADJPY has been in bullish correction mode following the bounce off the 80.55 support level. The pair posted two consecutive weekly green sessions after it recorded a 16-month low. The short-term technical indicators are endorsing the upward retracement in the price action. Technically, in the daily chart, the MACD oscillator continues to move higher towards its […]
The Reserve Bank of Australia (RBA) will announce its rate decision on Tuesday, at 0430 GMT. With the Bank widely anticipated to take no action, the focus will probably turn to the statement accompanying the decision for fresh policy signals. Considering recent developments around global trade, the RBA has every reason to err on the […]
This week marks the beginning of the second quarter of the year. Looking back, this year is turning out to be a very interesting one indeed. The year started after Donald Trump signed the sweeping tax reform package that slashed corporate and individual taxes. Investors were optimistic that the president would continue with the business-friendly […]
This weekend marked the end of the first quarter. Looking back, it has been an interesting quarter with news coming from all corners. As usual, Donald Trump has dominated the news cycle with his policies leaving investors uncertain about the future. His trade war rhetoric has continued to bring cause more confusion among the investing […]
The dollar is slightly higher against the Japanese Yen following disappointing economic data from the country. Yesterday, we received the Tankan Large Manufacturers and Non-Manufacturers Index which missed the consensus estimates. The Manufacturers Index remained unchanged at 23, a point lower than what analysts were estimating. Similarly, the Non-Manufacturers index was unchanged at 23. This […]
Here are the latest developments in global markets: FOREX: The US dollar held steady versus the Japanese yen today (+0.04%), taking a breather after last week’s rally. The US dollar index fell by 0.28% though, currently hovering just below the 90.00 handle. Traders are awaiting the US labor market data on Friday, which are expected to show […]
Gold has been outperforming today following the rebound from the 1321 support level that hit last Thursday. Despite the latest pullback though, the precious metal has not posted a lower bottom below 1321, which makes one hesitant to trust further declines for now. Looking at momentum oscillators in the 4-hour chart, they suggest further upside movement may […]
Here are the latest developments in global markets: FOREX: The dollar index was nearly 0.2% lower on Monday to start the new quarter, amid continued concerns over a US-China trade dispute escalating following the latest tariffs by China, due to take effect today. The British pound was on the front foot, gaining against both the dollar […]
Gold is slightly higher today after the dollar fell from its weekly highs. The rise today is also associated with risk aversion as traders’ search for yield in alternative places. As you recall, the global financial markets are now on the edge as the world braces for a trade war. In the recent past, Trump […]
EURUSD remains under pressure and has been trading within a sideways channel since January 12 with upper boundary the 1.2540 resistance level and lower boundary the 1.2160 support level. During Friday’s trading session, the price snapped a three-day losing streak and posted a bullish candle. Having a look at the bigger picture, the single currency […]
Japanese business sentiment jumped to an 11-year high in the final quarter of 2017, marking five straight quarters of growth according to the Bank of Japan’s Tankan survey issued in December. On Monday, the same survey is likely to show that in the three months to March the positive business outlook among big enterprises remained resilient although earlier […]
The upcoming week is set to be busier relative to the past one in terms of economic releases, featuring among others what is arguably the most significant release out of the US since the global financial crisis, namely the country’s jobs report. Eurozone preliminary inflation figures for March is another data set that will be […]
The cryptocurrency market capitalisation has lost over $100 billion over the past week, with leading cryptocurrencies falling over 13% in the last 24 hours alone. What has played a major part in this decline is regulator pressure, as well as the high sell volumes on the CBOE and CME futures markets. Bitcoin’s bulls support that […]
