After an impressive two-year rally, industrial metal prices have been having a stormier time in 2018, being first swept over by the market turbulence caused by the sell-off in global equities and bonds, then by the announcement by US President Donald Trump that he is imposing tariffs on US imports of steel and aluminium. Commodity-linked […]
Canada will see the release of its inflation and retail sales data on Friday at 1230 GMT, with forecasts pointing to an acceleration in price pressures and a sharp rebound in consumer spending. While such prints would be pleasant news for the Bank of Canada (BoC) and could benefit the loonie, the currency’s broader direction […]
Here are the latest developments in global markets: FOREX: The US dollar index was falling by 0.03% against a basket of major currencies during early European afternoon and dollar/yen remained under pressure, losing 0.39%. The fall in the dollar came in after the Fed raised interest rates, as was widely anticipated, but stayed on course for three rate hikes this year, disappointing those […]
Offering free forex education for online investors in the MENA countries has been just as important for XM as serving them as individual clients on a daily basis. After a short break, this March we returned to Egypt once again, with a new seminar topic. The free seminar took place on the premises of Semiramis […]
Financial markets have been numb waiting on whether and to what extent Trump’s tariffs will impact the global economy. According to Bloomberg, yesterday Trump said he seeks to impose a $50 billion tariff against China – under the premise of intellectual property infractions. It is widely known that Chinese manufacturers have produced off-brand items and […]
NZDUSD skyrocketed over the last couple of hours and jumped above the 0.7260 critical level which overlaps with the 38.2% Fibonacci retracement level of the downleg from 0.7435 to 0.7152, posting a one-week high. The rebound on the 0.7152 support barrier helped the price to create a strong bullish day surpassing the 20 and 40 […]
Here are the latest developments in global markets: FOREX: The dollar extended its declines from yesterday on Thursday, touching its lowest in nearly two weeks versus a basket of currencies. FOMC policymakers’ decision to continue signaling three hikes in total for 2018 was seen as the catalyst behind the US currency’s decline. STOCKS: US markets […]
USDJPY fell as low as 105.57 during today’s Asian session and reached a two-week low. Over the last three weeks, the pair is posting neutral sessions as it failed several times to jump above the 107.30 key resistance level but managed to hold above the 16-month low of 105.23. Price action is at the moment taking place not […]
Australia will see the release of employment data this week on Thursday at 0030 GMT, with the figures expected to show that the Australian labor market is in a good shape. Analysts believe that the number of jobs created continued to rise in February, posting the longest streak of employment gains since the Australian Bureau of Statistics […]
Brent crude oil futures reached a fresh six-week high of 68.28 during today’s European session and extended oil’s bullish run, which started from the 64.00 handle. Prices broke above the 67.90 key level and are trading well above their moving averages. The bullish picture in the short-term is further supported by the technical indicators. In the 4-hour […]
The UK 100 index has fallen by 4.3% after recording a one-and-a-half-month high of 7,341.00 on February 26; if the all-time high of 7,806.05 is used as a reference point, then the loss amounts to a whopping 10.0%. Earlier on Wednesday, the index hit a six-week low of 7014.10, while it is currently trading not […]
Today, the Fed will conclude its two-day meeting and announce the interest rates. The Fed is expected to raise interest rates for the first time under Jerome Powell. As shown below, most analysts expect the Fed to hike by between 150 and 175 basis points while a small number expect a hike of between 125 […]
The Australian Dollar started its decline on March, 14 following tepid economic data and the statement from the Reserve Bank of Australia (RBA). Yesterday, the decline continued after the RBA released its minutes for the meeting it held last week. In the past week, the AUD/USD pair fell from a high of 0.7916 to a […]
Here are the latest developments in global markets: FOREX: Dollar/yen was falling by 0.18% and the dollar index was also under pressure, losing 0.25% at the time of writing as investors were preparing their positions ahead of the Fed interest rate announcement later in the day. While the dollar was struggling to gain ground, the euro managed […]
Bets for a Bank of England rate hike in May received a major boost this week after the United Kingdom and the European Union reached a deal on a 21-month transition period that would come into effect when Britain officially leaves the bloc at the end of March 2019. The positive development is likely to […]
The eurozone will see the release of flash PMI figures for the month of March on Thursday at 0900 GMT. All three readings – for manufacturing, services, as well as the composite measure that blends the two sectors – are anticipated to slow down relative to recent releases, though still comfortably remain above the 50 […]
EURJPY has been moving within a consolidation area since February 22 with upper boundary the 132.20 resistance level and lower boundary the 129.60 support level. It is worth mentioning that the price came under strong pressure following the bounce off the 131.70 barrier on Tuesday’s session and hit the 135.35 support level. Looking at momentum […]
Here are the latest developments in global markets: FOREX: The dollar traded down by less than 0.2% against a basket of currencies on Wednesday, though it held most of the gains made yesterday which saw it rise to a three-week high. STOCKS: US markets closed in the green on Tuesday, recovering some of their losses from […]
AUDUSD recorded relative strong bearish sessions in the previous week before the pull-back on the 0.7920 resistance level. The price plunged below the 0.7715 key level and posted a fresh three-month low of 0.7677. The bearish structure in the short-term remains intact, however, stochastics signal for a bullish correction. In the daily timeframe, the MACD […]
The Reserve Bank of New Zealand (RBNZ) will announce its rate decision on Wednesday at 2000 GMT, and policymakers are widely anticipated to stand pat. Given the lack of major developments recently, the Bank seems unlikely to alter its neutral tone, and the financial community appears to view this meeting as a “non-event”. With very […]
German DAX 30 has been moving below the 12480 strong resistance level after the strong sell-off at the end of the previous month. The critical death cross between the 50 and 200 medium-term simple moving averages (SMAs) indicating significant selling interest. Looking at the daily timeframe, the RSI indicator holds below the 50 level and is […]
Here are the latest developments in global markets: FOREX: The US dollar traded higher today, reversing some of its losses in the previous days as investors were preparing their positions ahead of Wednesday’s Federal Reserve rate decision, where expectations are for the FOMC board members to raise interest rates for the first time this year. Dollar/yen rose towards […]
WTI crude oil futures have reversed back up again after finding support at the 38.2% Fibonacci retracement level of 61.41 of the downleg from 66.60 to 58.15 and reached a two-week high of 62.82 today. Prices successfully broke above the 50.0% Fibonacci and are trading above their moving averages in the 4-hour chart. The bullish picture in the short-term is […]
The Federal Reserve will be completing its two-day meeting on monetary policy on Wednesday, with an interest rate decision being made public at 1800 GMT. The world’s most powerful central bank is widely anticipated to deliver a quarter percentage point interest rate hike, with market focus falling on the Bank’s forward guidance. Moreover, this will […]
Here are the latest developments in global markets: FOREX: The dollar edged higher versus a basket of currencies on Tuesday after retreating against the euro and sterling on Monday. The yen was losing considerable ground relative to other major currencies, while the antipodeans were trading not far above recent lows against the greenback. STOCKS: US […]
GBPUSD has advanced considerably during yesterday’s trading session, hitting a new one-month high of 1.4087. Over the last few days, the price climbed above the short-term descending trend line from the high on January 25, suggesting more upside bias. The technical picture also supports that the bullish move is likely to continue in the short-term. […]
In the past few years, XM has made continuous efforts in different parts of the world to turn its corporate social responsibility initiatives into action. The latest such event took place in Indonesia, where the need for environmental protection is critical. No matter which part of the globe we live in, the environment and the […]
On 7th March this year, XM has yet again stayed true to the belief that charitable contributions can make a difference when it comes to safeguard the welfare of children. XM’s corporate social responsibility encompasses quite a variety of activities, one of which has always been in the forefront: the welfare of children. We continue […]
EURGBP is edging sharply lower over the last few hours, recording a five-week low near the 0.8745 price level. It is worth mentioning that the pair has been consolidating in a downward sloping channel since September 2017. The neutral to bearish picture in the medium term looks to last for a while longer after prices failed to break […]
It is going to be a crucial week for the British pound, with a Bank of England (BoE) policy decision on Thursday and an EU summit that will determine whether the UK will finally obtain a transitional Brexit deal. Ahead of these events though, the UK will also release a raft of key economic data […]
