GBPJPY is looking more bullish in the short to medium term as it extends its gains from March’s 5-month low of 144.98 to above the 151 handle. The pair has been trying to break above the Ichimoku cloud during the past two sessions but failed on Friday to close above it. Prices are back above […]
U.S. equities had another turbulent day on Friday with a deep selloff. However, yet another tweet from President Trump over the weekend, signalling a possible softening in his approach to a trade war with China, has been improving sentiment. Traders should be aware of a speech by Chinese President Xi Jinping at the Boao Forum […]
Here are the latest developments in global markets: FOREX: Trade tensions continued to dominate the market theme as the US open approached. A tweet by President Trump on Sunday about the trade dispute with China went some way in lifting risk appetite in Asian trading on Monday. However, a report by Bloomberg that China is […]
EURUSD remains on a downtrend in the short term despite an upwards correction, which now appears to be fizzling out. The rebound from Friday’s 5-week low of 1.2215 has been halted at the 23.6% Fibonacci retracement of the downleg from 1.2475 to 1.2215. This level is around 1.2275. Prices are struggling to overcome this resistance […]
The AUDUSD pair has settled into a range over the last couple of weeks and remains supported above 0.76400. Further losses can arise if this level is broken, with traders currently closely watching the 0.76600 level for early signs of a break down. The 0.76000 area contains two trend lines and should provide some strong […]
Here are the latest developments in global markets: FOREX: The US dollar was attempting a rebound on Monday, climbing back above the 107 level against the Japanese yen after twice coming under pressure on Friday. A smaller-than-expected increase in March nonfarm payrolls out of the US followed heated exchanges between the US and China on […]
The UK Halifax House Price Index had recovered last month from a reading of -0.6% in January and February up to 0.4% in March. A weaker number here can be attributed in part to the recent spell of winter weather. The Year over Year figure is still robust and is expected to come in around […]
Trade numbers out of China look set to attract some headlines next week as trade tensions between the United States and China heat up and show no sign of deescalating. Germany and the United Kingdom will also publish monthly trade figures, while inflation data out of the US will be another closely watched indicator in […]
The latest U.S. labor market report turned out to be very weak in terms of the number of jobs created but salaries were in line with expectations. Payrolls increased by only 103K in March, the smallest growth since September, when the statistics were affected by destructive hurricanes. However, the previous readings were revised upward and […]
Here are the latest developments in global markets: FOREX: An escalation in the trade war between the United States and China, as well as investor caution ahead of today’s US jobs report led the US dollar to give up some of its earlier advance when it hit a 5-week high against a basket of currencies. […]
The U.S. Dollar strengthened on Friday in response to an escalation in trade tensions and ahead of non-farm payrolls (NFP) and wage data. President Donald Trump issued a statement that he was considering $100 billion in extra tariffs, with China quickly responding that it “will take them on until the end at any cost”. However, […]
Here are the latest developments in global markets: FOREX: The US dollar came under fresh selling pressure yesterday after President Donald Trump stepped up the trade war with China and threatened additional tariffs on Chinese imports. The greenback briefly dipped below the key 107 level, having hit a 5-week high of 107.49 yen earlier in […]
The UK 100 Index has rebounded higher after testing support and forming a new low at 6835.7. The price is currently around the 50 DMA at 7194.0 and has retested the red trend line as support. Resistance is now found at the 7300.0 level and the 100 DMA, with the 200 DMA at 7327.0, which […]
Friday’s session is expected to be volatile, with Non-Farm Payrolls (13:30 UK Time) ahead and President Trump’s proposal for an additional $100B of trade tariffs for China affecting markets. The President instructed Treasury to consider the move, which would bring tariffs against China to $150B. This sent US stock markets lower and USDJPY from 107.430 […]
EURGBP remains in a slightly downward tilting channel, which has been in place since September 2017. The longer-term neutral to bearish outlook was recently confirmed again when the pair touched a 9-month low of 0.8668 on March 22. It has since recovered from that low but the rebound was halted after finding resistance around 0.8790. […]
The British Pound (GBP) declined this morning after a major survey showed that British services slowed sharply to the slowest rate since the EU referendum in June 2016. The Purchasing Managers’ Index (PMI) was reported to be worse-than-expected at 51.7, from February’s reading of 54.5. This was attributed to unusually bad weather conditions and weak […]
The talk around the financial markets these days is about a trade war. The talks started when Trump announced plans to impose heavy tariffs on steel and aluminum. He then moved to announce heavy tariffs on an assortment of 1,300 Chinese goods. As a response, Chinese authorities announced plans to levy heavy tariffs on 128 […]
Following the latest round of retaliatory tariffs by China, uncertainty is high, and the next move by either side will determine whether all these actions were just “posturing” ahead of serious negotiations, or whether the situation is set to develop into something bigger, like an actual trade war. On Wednesday, China unveiled its second round […]
EURGBP is remaining in a down trend in the 4-hour time frame. The trend line is intact after its 3rd test last week and is currently forming resistance at 0.87574. The Moving averages are falling in line with the trend line, with the 50 MA at 0.87500 and the 100 MA at 0.87718. A previous […]
FOREX: The US dollar rose by 0.20% to a two-week high of 107.14 against the Japanese yen on Thursday after a late recovery by US equities. Looking ahead, Friday’s non-farm payrolls report is still a major point of focus for traders. The US dollar index moved marginally higher, edging up to 90.15. Euro/dollar pared earlier losses which drove the pair to a two-week low of […]
Friday is almost guaranteed to bring fresh volatility to the US dollar, which has been trending sideways since the middle of January. Not only will the US release its all-important employment data for March at 1230 GMT, but a few hours later at 1730 GMT, Fed Chairman Jerome Powell will deliver remarks on the economic […]
The Canadian employment report for the month of March will be made public on Friday at 1230 GMT. The Canadian dollar will be in focus as the data are released. The currency managed to post some gains versus its US counterpart as of late on the back of optimism around an imminent NAFTA deal, though […]
In the past one month, the EUR/USD pair has moved up and down. It has moved to a high of 1.2477 before losing the gains to a low of 1.2237. The pair reached the above high on March, 27 following increased pressure about trade. Then, investors believed that the dollar would be a bigger loser […]
Here are the latest developments in global markets: FOREX: The US dollar index traded 0.1% higher on Thursday. Against the yen, the dollar was up nearly 0.25% as concerns of an imminent trade war subsided, diverting flows out of the Japanese currency, which is considered a safe-haven asset. STOCKS: US markets closed higher yesterday, managing to […]
NZDUSD has reversed back down again after finding resistance at the 3-week high of 0.7320 achieved during today’s Asian session. This top is just below the 61.8% Fibonacci retracement level of the downleg from the high of 0.7436 to the low of 0.7152. Momentum indicators in the 4-hour chart, are pointing to a bearish bias […]
US Unemployment data will be released this afternoon, ahead of NFP data on Friday. This is expected to show a slight rise in Initial Jobless Claims from the low reached last month. The trend here is for claims to continue to move lower, with the Fed highlighting concerns that the economy is running out of […]
USDJPY has been overperforming in the past two days, jumping above the 20- and 40-day simple moving averages in the short-term. When looking at the bigger picture the pair has been developing within a downward sloping channel since December 2016. During the previous week, the price found a strong support obstacle from the return line […]
Employment in the U.S. private sector increased more than expected in March, according to the ADP. However, the dollar defiantly ignored the news, failing to register significant movement against most of the key currencies. Stock exchanges were somewhat lost during the initial reaction. However, selling had prevailed in the markets earlier in the day. ADP […]
Oil prices rose in the latter half of March, aided by speculation the US is set to impose fresh sanctions on Iran, and expectations that OPEC could extend its production cuts into 2019. Strikingly, prices managed to climb even despite a deterioration in risk sentiment, which typically weighs on the precious liquid. However, with most […]
Today, the biggest news in the financial markets came from China, which announced a fresh $50 billion tariffs on the United States goods. The new tariffs targeted critical items such as motor vehicles, airplanes, and soybeans among others. This comes a day after the United States released the list of the items it will place […]
