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 […]
Price action in stock markets is increasingly becoming a by-product of unpredictable headlines around protectionism and other issues. In such an environment, besides news, technical indicators like moving averages are worth watching very closely, as they could be especially useful in helping to determine whether more declines, or a rebound are in store. The past […]
EURAUD has advanced considerably since roughly the beginning of 2017, hitting a more than a 2-year high of 1.6190 during Wednesday’s trading session. However, the price dropped aggressively after it hit the aforementioned level, closing the subsequent days in the red. The bearish sentiment is likely to continue in the short-term according to momentum indicators. The MACD oscillator is […]
GBPJPY has been stuck in a channel tilted to the upside since the beginning of March. The cautiously bullish picture in the short-term looks set to last for a while longer after prices failed to break to the downside of the lower channel earlier this week. Support was met at around the 148.80 region, forcing the pair to reverse higher. The deterioration in […]
Here are the latest developments in global markets: FOREX: The dollar was slightly lower against its major peers on Friday, ahead of the new quarter. The dollar index fell by 0.3% today, while it dropped more than 2% in the first quarter of 2018, its fifth consecutive quarter of declines. Dollar/yen declined by 0.26% in the day and […]
Here are the latest developments in global markets: FOREX: The dollar traded 0.2% lower against a basket of six major currencies on Friday, with a public holiday in Europe and the US set to keep many traders away from their desks today, and liquidity in the FX markets thinner-than-usual. STOCKS: US markets closed higher yesterday, recovering some of […]
USDCAD completed a bearish correction following the pullback from the 9-month high of 1.3130, reached on March 9. As a side note, the pair has been consolidating below the 1.2950 level until the 1.2800 handle, which overlaps with the 40-day simple moving average (SMA) over the last six trading days. The price is stuck below […]
Since this January, XM has already hosted quite a number of free forex trading seminars in various parts of the world, the two latest such events having taken place in the Colombian cities of Bogotá and Medellín in March. The seminar titled Avramis Swing Trading Techniques, presented by professional forex instructor Jarek Duque, was organized […]
Microsoft stock retreated again after finding resistance near the 95.30 barrier this week. The price completed four consecutive negative sessions in the 4-hour chart, plunging below the 20- and 40-period simple moving averages (SMA). The technical picture now supports that the bearish bias is likely to continue in the short-term. Looking at the momentum indicators, the RSI is negatively sloped, slightly […]
The total market capitalisation of cryptocurrencies dropped below $282bn, as broad-based selling saw major digital currencies reach multi-month lows. The vice governor of the People’s Bank of China (PBOC) has commented that they will launch a crackdown on cryptocurrencies this year. Also, it is reported that two Japanese cryptocurrency exchanges are set to cease operating, […]
It has been a continuation of another difficult week across the markets as uncertainty about trade and Trump’s administration continue. The week started at an optimistic note as a report indicated that China and the United States were negotiating a deal that would iron out the key issues. Recently, the Chinese authorities have showed their […]
Here are the latest developments in global markets: FOREX: The US dollar traded higher against a basket of currencies yesterday, with dollar/yen surging 170 pips in a single day, though its rally is starting to lose steam again in the European session currently (-0.19%). Today, dollar traders are likely to turn their attention back to the […]
NZDUSD turned increasingly bearish after a bounce off the 0.7300 handle on Tuesday, breaking below the 0.7200 strong psychological level yesterday. Today the pair continues to head lower, but the RSI in the 4-hour chart is not far away from oversold levels therefore upside movements cannot be excluded yet in the short-term. The MACD gives additional […]
Canadian GDP will be released later today showing slight growth. The USDCAD pair has slipped into a sideways pattern below the area of the red trend line, shown here on the 4-hour chart. This trend line currently represents resistance and is located at the 1.29395. The 50-period MA is at 1.29148, with the 100-period below […]
Here are the latest developments in global markets: FOREX: The dollar index declined 0.1% today, giving back some of the significant gains it posted yesterday when it recorded its biggest daily surge in six months. Meanwhile, the yen was losing ground as geopolitical tensions appeared to ease further, and amid increased flows in light of the Japanese […]
The Great Britain Pound rose slightly against the dollar after a report from GFK showed that the consumer confidence rose in March. The data showed that the confidence index rose three points to negative seven in the month. At the same time, wages increased slightly despite the ongoing uncertainties relating to Brexit and the political […]
On 24th March one of the latest XM seminars took place in Bacolod, the Philippines, where we were pleased to welcome a great number of online investors interested in learning about the basics of forex trading. Professional instructor Jonathan Lou Reyes, accompanied by our company representatives, welcomed event guest on the premises of L’Fisher Hotel, […]
With US Personal Consumption Expenditures – Price Index on the way later today, as well as US Jobless data, traders will be watching the USD, which is showing strength as we approach the last trading days of March. USDJPY was up to 107.00 at one point overnight, helped by easing tensions with North Korea. Gold […]
The Bureau of Labor Statistics (BLS) released the revised GDP numbers for the American economy. The data showed that the economy grew by 2.9%, which was up from the earlier released number of 2.7%. Analysts estimated the data to show a growth of 2.7%. In the third quarter, the economy grew by 3.2% while in […]
USDJPY bounced sharply during Wednesday’s trading session, adding 170 pips to its performance in just one day. The price rebounded on the 16-month low near 104.60 and tried to challenge the 107.30 resistance level. The pair, however, is currently looking weaker, trading below the 40-day simple moving average in the daily timeframe. The MACD oscillator is rising above its red trigger […]
Canadian GDP figures for the month of January are due on Thursday at 1230 GMT. The release could give direction to the local dollar which has been performing poorly relative to its US counterpart, shedding 2.7% year-to-date. Economic activity in Canada is expected to have expanded by 0.1% m/m during the first month of the […]
Thursday will probably be the most eventful day for the US dollar this week, from a data perspective at least. The core PCE price index, which is the Fed’s preferred inflation measure, as well as personal income and spending figures are all due for release at 1230 GMT. While forecasts point to a robust set […]
NZDJPY is looking more neutral as prices have climbed towards the 20-day simple moving average (MA) after bouncing off the lower Bollinger band. However, the 20-day MA also acted as resistance, hence the upside momentum appears to have run out of steam as prices have been attempting and failing to close above the line in […]
