Here are the latest developments in global markets: FOREX: The US dollar traded lower on Monday, but by less than 0.1%, showing little response to the US military strike on Syria over the weekend. STOCKS: US markets closed lower on Friday, though they appear set for a recovery today. The Dow Jones and the Nasdaq Composite both […]
EURUSD has been underperforming in the past two days, failing to extend its gains to the upside. The pair has been developing within a symmetrical triangle since February in the short- to medium-term timeframe, while the price lacks a clear trend. In the longer-term, the single currency has been developing in an ascending movement against the greenback over […]
The US, UK and France took military action against Syrian Government forces over the weekend. Three targets were hit in combined missile and airstrikes, after the US had been in contact with Russia during the week, to give pre-warning and limit collateral damage. The strikes took place after market close on Friday night/Saturday morning, giving […]
Yesterday, the price of Bitcoin jumped more than $1,000, from $6,900 to $8,000, in a single hour. This is the biggest market movement over the last few weeks. On Friday, BTC has continued to rise, showing an increase of 18% in the last 24 hours. The leading altcoins have also jumped 13-15%. There haven’t been […]
This week was a bit interesting from the political, trade, and security issues. Major news broke that will ultimately have major implications in days to come. From the political side, the Mueller investigation continued with the president considering firing the deputy attorney general. The consensus among most Trump supporters is that the investigation is a […]
EURCHF spiked higher on Thursday, stretching its upleg started at the beginning of March to a fresh three-year high of 1.1886. While the sentiment remains positive, with prices continuing to trend above the Ichimoku cloud and all the simple moving average lines, momentum could fade in the short-term according to technical indicators. The RSI is […]
Equity markets managed to regain their footing this week, as major concerns regarding protectionism and geopolitics appeared to be easing. While more waves of risk aversion are not to be ruled out over the coming weeks, given that many hazards still loom, the broader picture on both the trade and the geopolitical fronts seems to […]
The total market capitalisation of cryptocurrencies surged back above $300bn, as broad-based buying saw digital currencies recover from lows. On Thursday morning, Bitcoin jumped by more than $1000 to trade over the $8000 handle. Ethereum also made a significant upside move to trade above $500. The recovery could be attributed to a number of factors. […]
It will be an important week for major economic releases over the next seven days with key indicators due from all the big markets. Inflation and retail sales data will dominate the calendar followed by employment numbers. A policy meeting by the Bank of Canada will also be eyed. However, with geopolitical risks currently running […]
UK 100 index has reversed back up again after finding support at the 16-month low of 6760. The index is on track to record a third green week, however, looking at the 4-hour chart, the price is stuck below the 50.0% Fibonacci retracement level of the downleg from 7806 to 6760. The technical picture supports that the range […]
Here are the latest developments in global markets: FOREX: While war and trade risks have not fully faded, Trump’s tweets on Thursday showed that the US president is considering to rejoin the Trans-Pacific free trade partnership, which he pulled out in his first months in the role. His remarks also indicated that he wanted to avoid […]
EURGBP has declined considerably after recording a four-and-a-half-month high of 0.8967 in early March. Earlier in Friday’s trading it touched 0.8627, this being its lowest since May 24 of last year, while it is currently trading not far above this trough. The Tenkan- and Kijun-sen lines are negatively aligned and the RSI is heading lower, […]
The UK 100 Index has positioned itself in a holding pattern over the last three days, after breaking above the resistance level of 7224.50 on Tuesday, with this level now becoming firm support. Further support comes from the 50 DMA at 7201.00, with a move under here handing control back to bears, who may try […]
Early March, the GBP/CHF pair reached 1.2857 which was the lowest level since November. Since then, the pair has been on an upward momentum, with no signs of stopping. It is now trading at the highest level since June 2016. The question among traders is on whether the pair could continue rising or whether a […]
GBPJPY is rising aggressively and reached a two-month high of 153.83 during today’s European session. The pair has surpassed successfully the upward sloping channel, which has been holding since March 5, indicating that the bullish extension continues. The technical indicators, continue to send bullish signals, suggesting that the strengthens in the market is not over yet. In the 4-hour chart, the RSI is […]
Here are the latest developments in global markets: FOREX: The US dollar index traded higher on Friday, but by less than 0.1%, extending the gains it posted yesterday as geopolitical and trade risks moderated, and the yields on longer-term US Treasuries surged. The yen traded 0.2% lower against both the euro and the dollar, as the […]
USDCAD has been posting an aggressive downside rollercoaster since the previous weekly session, failing to climb above the 50.0% Fibonacci retracement level around 1.2940 of the downleg from the high of 1.3800 to the low of 1.2060. It is worth mentioning that the pair has been developing within an upward sloping channel over the last […]
The AUD is the strongest currency today, as Chinese Imports (YoY) (Mar) came in at 14.4%, much stronger than the expected 10.0%, from a prior reading of 6.3%. This boosted the AUD, which was already higher due to positive risk sentiment, with AUDUSD up 0.28% to 0.77736 overnight. This pair was down at a low […]
Banking giants JPMorgan Chase, Citigroup and Wells Fargo will all be releasing Q1 2018 earnings reports before Wall Street’s opening bell on Friday. At the moment, the consensus recommendation for the former two is “buy” – in line with the average recommendation for the Banks peer group – while Wall Street analysts assign, on average, […]
Geopolitical jitters returned with a vengeance in recent days, with rising tensions between the US and Russia over Syria triggering a flight to safety and increasing demand for assets like gold. While a further escalation in the situation could push gold prices higher in the near-term, it’s crucial to note that in recent years, such […]
Yesterday, the Labor department released the consumer prices data for the month of March. The data showed that consumer prices eased during the month, with gasoline being the main contributor. The data showed that consumer prices dropped by 0.1%. This was the first and largest drop in consumer prices since May 2017. This was against […]
Brent crude oil futures surged on Wednesday, hitting a fresh more three-year high of 73.07. The oil completed the third green day in a row yesterday, however, it ended the day well below its peak. Today, the price is heading lower, suggesting a potential bearish correction of the sharp buying interest. In the 4-hour chart, the technical […]
The New Zealand Dollar (NZD) broke higher on Tuesday, as China seemed to calm down trade war rhetoric with the U.S. It could be argued that President Trump is now pre-occupied with geopolitical issues involving Russia and Syria. Chinese President Xi Jinping delivered a speech at the Boao Forum for Asia earlier this week and […]
Here are the latest developments in global markets: FOREX: An exchange of war words between the two nuclear-armed powers, the US and Russia yesterday regarding strikes in Syria continued to weigh on the dollar during early European afternoon despite the FOMC minutes from the March meeting embracing a positive outlook on the economy. Still, comments […]
NZDUSD surged to a 7-week high of 0.7387 during today’s European session following the aggressive buying interest that started after the rebound on the 40-day simple moving average of 0.7240 last Friday. The technical indicators, though, are sending neutral to bearish signals, suggesting that the strengthening of the market is weakening. In the 4-hour chart, the Relative Strength Index […]
The US 500 Index has been in a sideways pattern for the last few weeks, as exemplified by the 4-Hour chart, where the 50-period MA at 2638.40 and the 100-period MA at 2651.00 contain price action. The area of potential importance on the 4-Hour chart is the appearance of an inverted head and shoulders pattern. […]
Trade figures out of China are scheduled for release on Friday for the month of March, with consensus forecasts of a sharp deceleration in exports and a smaller trade surplus. The data comes amid heightened risk of a trade war between China and the United States as the two economic powerhouses quarrel over unfair trade […]
Here are the latest developments in global markets: FOREX: The US dollar index traded practically unchanged on Thursday, with the currency unable to draw much support from the hawkish signals in the FOMC minutes, amid escalating tensions in the Middle East pushing US Treasury yields lower. STOCKS: US markets closed lower yesterday, weighed on both […]
The financial markets were rattled yesterday following a tweet by President Trump. In the tweet, the president focused his attention to Russia’s Vladmir Putin and his response to the Syrian crisis. The tweet signaled that the escalation in Syria could lead to significant issues between the US, Russia, Iran, and Israel. The problem started when […]
The main economic event today will be the publication of the ECB Monetary Policy Meeting Accounts, which will give an insight into the thinking of the ECB on economic conditions that influence their decisions. The reaction to the data events over the past couple of months will be of particular interest. Syria dominated headlines overnight, […]
