This week, investors will focus more about the political and trade rhetoric, rather than the usual economic data. It is a week that comes a few days after the Fed raised interest rates for the first time this year and indicated that more hikes were on the way. As you recall, the Fed was not […]
AUDJPY has shed 7.5% year-to-date and is currently trading around 80 pips above the near one-and-a-half-year low of 80.49 hit last Friday. Despite today’s rebound, the negatively aligned Tenkan- and Kijun-sen lines continue to project a bearish short-term picture for the pair. It is of note that the Chikou Span might be hinting to a […]
We would like to inform you that due to the Easter Holidays , the trading hours of various instruments will be affected between 28 March and 09 April 2018. The normal trading hours will be resumed from then onwards Please review the tables below to see which instruments will be affected and how: Instrument 28/03 […]
Here are the latest developments in global markets: FOREX: The dollar was little changed versus a basket of currencies on Monday after previously recording a one-month low and coming under pressure versus the yen, with dollar/yen hitting a fresh 16-month low. The pair later recovered though to trade higher on the day. STOCKS: US markets […]
For decades, even before becoming a politician, Donald Trump talked about trade and the ways other countries were treating the United States. He argued that countries like Japan, South Korea, and China were taking advantage of the country. He also argued that European countries formed the European Union to match the strength of the United […]
Silver is often called the poor cousin to gold. Like gold, silver is found deep inside the earth’s crust and is often mined by large mining companies. The difference between the two is its usage. While gold is usually bought as an investment, silver is bought for its industrial uses. Companies buy silver to produce […]
EURUSD closed higher in Friday’s trading but maintained in a range between 1.2150-1.2450 started at the end of February, with technical indicators suggesting that the sideways pattern might continue for a while. Looking at momentum indicators, the RSI is pointing to the upside, giving some positive signals for the short-term, though, the index has not […]
The US and South Korea have reached agreement on a Trade deal that comes with the added bonus for South Korea of a permanent exemption from Steel Tariffs imposed by the US. The arrangement is to allow South Korea to export up to 2.68 million tons of steel to the US each year, equivalent to […]
The Japan 225 stock index had a rough ride in recent days, extending negative momentum towards a five-month low of 20,507 during today’s Asian session. While the index’s range-bound trading started in early February remains very much in place, technical indicators point to further downside movements in the short-term, but such moves may soon lose steam given that the […]
After a busy week filled with central bank activity and political developments, there should be some restoration of calm in financial markets over the coming week as trading activity wounds down ahead of the Western Easter celebrations. Data releases out of the United States look set to dominate the calendar, with the core PCE price […]
The past few weeks have seen very interesting developments in emerging markets (EM). Some EM currencies have plunged, as rising concerns over a tit-for-tat global trade war amplified the already-troubled outlook for those economies. Others, however, have managed to hold their own quite well so far, defying the conventional wisdom that EM economies are the […]
Google stock price has been edging lower over the last five days, with the biggest drop being in Thursday’s session. The price hit the 1045.60 support level taken from the low on March 2, while the selling interest started from the bounce off the 1177 resistance level. The short-term momentum indicators are confirming the recent bearish bias. In the […]
USDJPY has experienced considerable declines in recent days and in the bigger picture ever since reaching a four-month high of 113.74 on December 12; the pair has shed 7.6% since recording that peak. Earlier in Friday’s trading, USDJPY posted a 16-month low of 104.63. The Tenkan- and Kijun-sen lines are negatively aligned, projecting a bearish […]
Here are the latest developments in global markets: FOREX: The Japanese yen was moving sideways near a 16-month low of 104.60 reached during the Asian session, last seen at 104.98 (-0.27%), as financial markets were rattled by worries over rising US-China trade tensions. Moreover, Turkey’s lira hit a record low of 4.03 to the dollar after the […]
The UK 100 index has fallen below its February low at 6916.3, painting a bearish picture for 2018. The level was lost in the US session yesterday, and the index reached a low of 6835.7 overnight. Attempts to recover this morning are stalling above 6900.0. The increase in international trade tension has led to a […]
Much of the focus on Wednesday was on the FOMC announcements, where the Fed raised their target interest rate by 0.25% but continued to see only two more rate hikes this year for a total of three. The announcement invoked a retracement in the U.S. Treasury bond yields, which benefits higher-yielding currencies such as the […]
After the FOMC yesterday, the US 30 index initially moved higher to test towards 25000.00 but failed, as it ran into the blue trend line resistance and faded down to a low of 24679.5, which has been taken out this morning. Today’s low is extending to 24522.2. This paints a bearish picture for the index, […]
FOMC Meeting Preview On Wednesday, the Federal Reserve will finish its first meeting of the Federal Open Market Committee (FOMC) since Chair Jerome Powell was confirmed as the central bank’s head. The Fed is expected to hike its target range for the Federal Funds rate by 0.25% to 1.75%. This would bring the effective Fed […]
The US has agreed to drop its proposed Auto Content from NAFTA, opening the way for progress to be made on the trade agreement. USDCAD dropped on the news, breaking through trend line support down to 1.30097 but has moved back to the current levels around 1.30395. Resistance is found near the broken trend line […]
The Bank of England Interest Rate Decision was as expected and left rates unchanged at 0.5%. The BOE Minutes, BOE Quarterly Inflation Report and the Monetary Policy Statement were released at the same time. BOE Asset Purchase Facility was left unchanged, as expected, at £435B. While no change in rate was expected, the tone and […]
The Bank of England is expected to leave rates unchanged today at 0.5% but will potentially lay the groundwork for a hike of rates in May. Market analysts will look to the Monetary Policy Summary for guidance indicating any hawkish tone on the back of Brexit progress and a pickup in economic data this week. […]
Note: Wednesday is a Bank Holiday in Japan, banks will be closed, and there will be no trading activity due to the Vernal Equinox Day Bank Holiday. Progress has been made on NAFTA, as the US has backed down and dropped the demand that all vehicles made in Canada and Mexico that are sold into […]
Following on from the list of retaliatory trade tariffs drawn up by the EU over the weekend, the risk-off sentiment deepened in markets yesterday, with the US 500 index breaking down out of its triangle and the NASDAQ breaking lower to form a bearish island reversal pattern. On a quiet day for data releases, there […]
Over the weekend, the EU published a list of tariffs on US products in response to the US tariffs on Steel and Aluminium. The total value of EU tariffs is up to €6.4 billion and this list is for “stakeholder consultation” purposes only. The EU will make the decision on whether to impose the tariffs […]
GBPJPY has reversed back down again after finding resistance at the one-month high of 150.30 achieved this week. The price plunged below the 38.2% Fibonacci retracement level of the downleg from the February 2 high of 156.60 to the March 2 low of 145.00. Meanwhile, the price is re-challenging the 23.6% Fibonacci mark around 147.70, which holds near the short-term ascending trend line. […]
Here are the latest developments in global markets: FOREX: The yen was building on yesterday’s gains versus other major currencies on Friday, as rising fears of a global trade war acted as a catalyst for the currency to attract safe-haven flows. Versus the dollar, the Japanese currency recorded a 16-month high of 104.62. STOCKS: Equity […]
USDCAD plummeted aggressively on Wednesday after the pullback to the 61.8% Fibonacci retracement level near 1.3130 of the downleg from 1.3800 to 1.2060. The price came under heavy selling pressure after hitting a 9-month high. However, during yesterday’s trading session it pared some losses and posted a green day. Currently, the price is developing slightly below the 50.0% Fibonacci […]
Inflation in Japan has still some way to run to reach the Bank of Japan’s price target and Friday’s consumer prices are likely to prove that once again. The core CPI, the BoJ’s preferred inflation measure, stood at 0.1% when the central bank decided to impose a negative-rate policy at the beginning of 2016 to incentivize banks and businesses […]
Sportswear giant Nike is scheduled to release its earnings report for the quarter ending February 2018 after Wall Street’s closing bell on Thursday. The consensus recommendation for the company is “buy”, in line with the average consensus recommendation for Footwear, its peer group. Nike’s quarterly EPS are projected to stand at $0.53, with analysts’ average […]
EURTRY reached an all-time high near the 4.8700 handle on Tuesday as the price extended its bullish run after it jumped above the 4.7350 key level. The bullish picture in the medium-term has been holding since February 2017 and is further supported by the technical indicators. Short-term momentum indicators are also pointing to the bullish bias. The RSI indicator […]
