The loonie has been making downward movements against the dollar for almost two months. The pair is now trading near the two-month low following weaker data and increasing concerns about NAFTA. The USD/CAD is now trading at 1.2713. All this could change today when Statistics Canada releases the country’s inflation data. In theory, a rising […]
Here are the latest developments in global markets: FOREX: The dollar index was nearly 0.4% higher on Friday, recouping some of the losses it posted earlier on Thursday. Kiwi/dollar was a notable mover as well, tumbling 0.6% despite stronger-than-expected data out of New Zealand overnight. STOCKS: US markets were mixed on Thursday, providing yet another sign that […]
USDCAD climbed sharply above the 1.2685 level during Thursday’s trading session and posted a new 2-month high near 1.2755. However, the price ended the day slightly above its opening level and struggled below the 38.2% Fibonacci retracement level of the down-leg with the high of 1.3800 and the low of 1.2060. The technical indicators now […]
For retail traders willing to develop their investment skills with practical knowledge, XM hosts a free forex seminar in the Hungarian capital this spring, where professional XM instructor Attila Szoboszlai will deliver a presentation on intraday trading techniques. Due to be held on 14th April, the educational event titled The Dow Theory in Intraday Trading […]
The US Secretary of Defence says he supports the Commerce Department’s actions on steel and aluminium trade. He also said that targeted tariffs are preferable to a global quota or a global tariff. This would impact EU based steel companies as well as those based in China. French Consumer Price Index (EU norm) (YoY) (Feb) […]
Oil prices tumbled in February, erasing the gains they posted earlier in the year, amid signs of surging US production and the broader stock market unrest. The precious liquid has stabilized somewhat in recent days, but given that the increase in US output shows no signs of abating, this may simply be a reprieve before […]
Retail giant Amazon reached a fresh all-time high during Wednesday’s trading, exceeding $1,500. By the end of the session it lost some ground amid a broader market retreat, though it still finished the day higher, with its market capitalization settling at $717.9 billion. For a bit of perspective, retailer Walmart, whose stock price recorded losses […]
AUDUSD has reversed back down again after finding resistance at the 0.7990 resistance level achieved last week. Also, the price slipped below the 23.6% Fibonacci retracement level at 0.7826 of the up-leg with the low of 0.6820 and the high of 0.8100 in the medium-term timeframe during yesterday’s session. The downside pressure seems to be […]
As the US government looks to raise $258 billion in Treasury auctions this week, the risk from a ballooning US deficit is weighing on investors’ minds as concerns grow about the sustainability of the worsening fiscal shortfall in the United States. The prospect of a burgeoning budget deficit comes at a time when the country’s […]
The New Zealand Dollar has been strengthening on improving inflation expectations, as reported in a recent Reserve Bank of New Zealand (RBNZ) survey. Earlier this week, a government-commissioned report on the economic impact of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) estimated the economy would grow between 0.3 percent and 1 percent, with exporters having […]
NZDUSD is trading lower over the last four days after it created a double top at the 5-month high of 0.7435 on February 16. The double top reversal is a bearish pattern indicating further losses on the price action. When looking at the bigger picture the pair lacks a clear trend since it has been consolidating within 0.7175 – 0.7435 […]
Here are the latest developments in global markets: FOREX: The dollar index deviated below ten-day highs reached earlier in the day, but remained 0.12% up on the day, last seen at 90.07. Yesterday, the FOMC meeting minutes spurred hopes that the Fed will hike rates four times this year, giving some lift to the dollar. […]
The reaction to the FOMC Minutes in the US30 index was to initially rally on the positive tones coming from the Fed. However, as we have seen recently, fears about inflation took hold, sending the price tumbling lower through strong support around 25000.00 and 24876.70. The low created so far is 24589.00. A break lower […]
Bullish Signs From Fed Officials. Yesterday, the Fed released the minutes for the FOMC meeting which happened in January 30-31. This was Janet Yellen’s final meeting at the Fed. The minutes showed that committee members were confident about the economy. They showed that some members were confident that the economy was growing much faster than […]
The pound continued its downward momentum against the dollar following yesterday’s release of the FOMC minutes. The minutes showed that Fed officials were increasingly optimistic about the economy, which they predicted would reach their target of 2% later this year. As a result, the dollar went up against the major currency pairs. Today, with no […]
Here are the latest developments in global markets: FOREX: The dollar index was 0.2% higher on Thursday, adding to the notable gains it posted yesterday on the back of the Fed minutes from the January meeting, which were quite upbeat. The greenback moved in tandem with US Treasury yields that surged across the board in […]
USDJPY recorded four bullish trading days in a row following the rebound on the 15-month low near the 105.50 support level. The aggressive bearish rally in the previous week started after the fall below the 50.0% Fibonacci retracement level near 108.80 of the up-leg with the low of 98.96 and the high of 118.60 and […]
German Markit Manufacturing PMI (Feb) was 60.3 v an expected 60.6, from 61.1 previously. Markit Services PMI (Feb) was 55.3 v an expected 57.0, from 57.3 previously. Markit PMI Composite (Feb) was 57.4 v an expected 58.5, from 59.0 prior. EURUSD moved lower from 1.23318 to 1.23168 following this data release. Eurozone Markit Manufacturing PMI […]
Canadian retail sales and figures on consumer prices will go public this week but based on forecasts, inflation pressures are not seen warming up yet as both retail sales and inflation are expected to slow down instead. Taking this into account and considering the Bank of Canada’s data dependent policy approach, additional rate hikes are likely to come later than […]
The Basics of Technical Analysis. A few weeks ago, the global stocks market started to fall. Some indices, such as the S&P and Hong Kong’s Hang Seng dropped so much that they entered a correction zone. To many investors and market watchers, this was a surprise to them. However, to traders who believe in technical […]
The European Central Bank will release its account of the monetary policy meeting that took place in January on Thursday at 1230 GMT. The minutes from the December meeting took markets by surprise by being more on the hawkish side of the spectrum than markets expected, leading to a rally in the euro. Should Thursday’s […]
The US 500 index is moving slightly lower after the sharp buying interest in the previous week pared some of the steep losses from earlier in the month. The price is developing below the bearish crossover within the 20 and 40 simple moving averages in the daily timeframe, suggesting downward pressure. From the technical point of view, […]
The Fed will release the minutes from the January FOMC meeting on Wednesday at 1900 GMT, and investors will be watching closely as they try to gauge whether the central bank will chart a more hawkish course moving forward. While an optimistic tone in the minutes may help the dollar to extend its latest recovery, […]
WTI crude oil futures have been underperforming since yesterday’s trading period, however over the last few hours they are trying to gain some ground. In the short-term timeframe, the technical indicators seem to be in confusion as they are giving signals for opposite tendency. In the 4-hour chart, the MACD oscillator is falling in the positive zone below its […]
Here are the latest developments in global markets: FOREX: Although British average earnings (excluding bonuses) in January appeared stronger than expected, reaching the highest growth in a year, pound/dollar eased to a one-week low of 1.3913 (-0.51%) as the unemployment rate rose surprisingly for the first time since June 2015 in the three months to […]
New Zealand retail sales data for the fourth quarter of 2017 are due for release at 2145 GMT on Thursday, with forecasts pointing to a strong rise in quarterly terms. The indicator is expected to edge up by 1.4% in the three months to December, following a rise of 0.2% before. The latest release was […]
Crude Oil prices fell on Wednesday, with losses in both U.S WTI and U.K. Brent, as the market awaits inventory data. Energy Information Administration (EIA) data last week showed U.S. inventories rising by 1.8 million barrels, which was smaller than expected. The American Petroleum Institute (API) will release its forecast on U.S. crude inventory on […]
The AUDUSD pair had tried to build a base of support around the 0.78900 level after price moved above this area on the 14th of February. However, the level was breached from above yesterday and, after a protracted battle that saw the 4-hour moving averages used as resistance, the price dropped under the 0.78690 support […]
Here are the latest developments in global markets: FOREX: The dollar index was nearly 0.2% higher on Wednesday ahead of the release of the FOMC minutes, extending the notable gains it posted yesterday. STOCKS: US equity markets closed lower on Tuesday. The Dow Jones fell the most, closing 1.0% lower, while the S&P 500 declined by 0.6%. […]
GBPUSD remains under pressure and risk is still to the downside as prices continue to drift lower from the 1.4150 resistance level. The short-term technical indicators are bearish and point to more weakness in the market, while the price capped by the 20-day simple moving average of the Bollinger band. Looking at the daily timeframe, the […]
