Today, the ECB starts its two-day monetary policy meeting. The meeting comes at a difficult time in the global trade and economic environment. The most important part of the global economy today is about the looming trade war. Last week, after a meeting between steel and aluminum companies, Donald Trump announced that the country would […]
Copper is one of the most important metals in the world. It’s relatively low price coupled with its conductivity properties make it ideal for all electrical work. In the past one year, its price has significantly moved up following the uptake of electric cars. In December, its price reached a multi-year high of $3.32 per […]
The Australian Dollar rose by almost a percentage point following a meeting of the Reserve Bank of Australia. The AUD rose to a weekly high of 0.782 after the RBA left interest rates unchanged. The rise was also attributed to a weaker dollar after the European Union released a list of products they would target […]
Netflix stock price reached another all-time high of 325.44 yesterday as the stock extended a long bull run and posted the third green day in a row. Prices broke above the 161.8% Fibonacci extension level at 317.45 of the last bearish correction from 286.00 to 235.70. The bullish picture in the medium-term is further supported […]
Crude oil prices declined on Wednesday, amid a broad sell-off after the resignation of Gary Cohn, who was the economic adviser to U.S. President Donald Trump. Cohn was a key advocate for free trade in the U.S. government and his departure is escalating concerns that the Trump administration will go ahead with import tariffs and […]
Here are the latest developments in global markets: FOREX: The resignation of Trump’s economic adviser and free-trade advocate, Gary Cohn, late yesterday, spurred speculations that the President’s plans to impose hefty import tariffs on aluminum and steel were more likely than analysts previously thought. The dollar index touched a fresh two-week low at 89.40 (-0.14%) and dollar/yen continued to trade near […]
EURJPY remains under strong pressure as it has started an aggressive bearish correction since February 2. The price lost more than 30% of its gains since April 2017 as it tried to challenge the 38.2% Fibonacci retracement level at 128.80 of the upleg from 114.90 to 137.50. During today’s European session the pair completed two […]
The US index has taken a fall lower with worries over trade tariffs. Today, it is opening with a gap down after the US Chief Economic Advisor to President Trump resigned last night. This raises the risk of a trade war taking place. The price has found support around the 2680.00 area and has a […]
Here are the latest developments in global markets: FOREX: The dollar was recording losses versus a basket of currencies, falling to its lowest in two weeks, as fears over as potential trade war were rekindled following the resignation of US President Trump’s top economic advisor, a free trade proponent. STOCKS: US markets managed to close […]
Markets are in risk-off mode this morning, as news broke just after the US market close yesterday that Presidents Trump’s Chief Economic Advisor, Gary Cohn, resigned after a clash with the president due to the implementation of trade tariffs. Cohn was an advocate of free trade and his resignation will dent market confidence in the […]
AUDUSD skyrocketed during Tuesday’s trading session and created a one-week high of 0.7841. The pair jumped above the 23.6% Fibonacci retracement level at 0.7827 of the upleg from the low of 0.6820 and the high of 0.8135, however, it ended the day below it and started Wednesday’s session with negative movement. In the daily timeframe, from the […]
The Bank of Japan will be concluding its meeting on monetary policy on Friday, with a decision on rates being made public at 0400 GMT. Markets project the Bank to maintain its ultra-easy monetary policies firmly in place. However, despite no change being expected, the meeting is gathering more attention than past ones on the […]
The Reserve Bank of Australia (RBA) left interest rates unchanged at a record low of 1.50% at its monetary policy meeting. There was little reaction from the Australian Dollar, as the decision was already priced in by the market. Interest rates are expected to remain unchanged until early 2019. The RBA stated that the country’s […]
WTI crude oil futures are surging after the rebound on the 60.10 support level, which overlaps with the 23.6% Fibonacci retracement level of the downleg from 66.60 to 58.00. Currently, the price is aggressively approaching the 61.8% Fibonacci mark near the 63.40 resistance level, while it jumped above the 40-simple moving average in the 4-hour chart. Technically, in the […]
The EURGBP pair has managed to hold above the 0.89000 level, which adds to the confidence that resistance above can be tested in order to achieve a breakout above 0.90000. Resistance, for now, is found at 0.89274, followed by trend line resistance at 0.89365. Major resistance is seen at 0.89550, with a falling trend line […]
Crude Oil prices are gaining after a report by International Energy Administration (IEA) showed that demand will increase in the next five years with supply growing at a slower pace. The report by IEA also showed that the United States would become the top oil supplier in the next few years as the country’s shale […]
Here are the latest developments in global markets: FOREX: Dollar/yen rallied significantly towards 106.34 (+0.13%) during early European afternoon, reversing earlier losses on news that North Korea was willing to begin negotiations with the US and abandon its nuclear program if regime’s safety is guaranteed according to South Korean officials. Sources also stated that the South […]
On 4th March this year, XM revisited the City of Manila in the Philippines with a free seminar for online investors on the use of technical analysis in CFD trading. Providing free trading seminars throughout Southeast Asia has been a significant part of the XM educational program for several years now, including the Philippines, where […]
Here are the latest developments in global markets: FOREX: The dollar index was slightly down on Tuesday after gaining less than 0.2% on Monday, in an environment where concerns for a trade war following the Trump administration’s decision to impose tariffs on imported steel and aluminum were easing. STOCKS: US markets closed markedly higher yesterday, […]
GBPUSD completed three green trading days in a row, while during today’s European session is moving marginally lower. The price is capped by the 20 and 40 simple moving averages in the daily timeframe, but it jumped above the 23.6% Fibonacci retracement level at 1.3810 of the upleg with the low of 1.2120 and the […]
The Market has shrugged off any fears of Trade Wars arising from the proposals that were released by the White House last week, with the consensus that they are being used as a threat to force trading partners to accept the demands of the US and strengthen its hand at the negotiating table. However, this […]
The EU 50 stock index remains stuck in bearish territory as the recent upswing failed to lift the price above its moving averages. The index has now turned lower again after the rebound was halted at the 50% Fibonacci retracement of the downleg from 3688.70 to 3258.70, and is heading towards February’s one-year lows. Momentum […]
The Bank of Canada (BoC) is due to announce its policy decision on Wednesday at 1500 GMT, and expectations are for the Bank to stand pat having raised interest rates at its previous meeting. While markets continue to expect two more hikes by the BoC this year, it will be interesting to see whether officials […]
EURAUD surged to a fresh 2-year high of 1.5922 during today’s European session after it successfully surpassed the 1.5815 key level. The pair recorded the fifth straight green day and the bullish picture in the short-term is further supported by the technical indicators. It is worth to mention that the price has been developing in […]
Global stock markets saw frenetic trading last week, amid concerns of a trade war and a more aggressive Federal Reserve. A broad sell-off began on Thursday after Trump announced that his administration would impose tariffs on steel and aluminium imports. Although the Dow (US30) initially fell nearly 400 points on Friday, most of the losses […]
This will be an interesting week both from a political and economic data standpoint. The financial community will pay close attention to Donald Trump and the policy he will sign on steel and aluminum. As you recall, last week, following a hastily called meeting by top aluminum and steel manufacturers, Trump announced that his administration […]
This will be a major week for the Australian dollar. From a political standpoint, traders will wait for the retaliatory statements from the Australian government after Trump signs in the new policy on steel and aluminum. After this, traders will focus on the interest rate decision and the GDP numbers. On Tuesday, the Reserve Bank […]
Last year, there was consensus among the financial community that Donald Trump was good for the market. This, coupled with strong earnings from companies made the global stocks markets to realize double digit gains and volatility to remain at a multi-year low. In the beginning of the year, while investors were optimistic about Trump’s deregulatory […]
Here are the latest developments in global markets FOREX: The euro remained under pressure during early European afternoon as Sunday’s elections in Italy which ended to a hung parliament, undermined Eurozone’s prospects, with Eurosceptic parties gaining some ground. However, investors’ confidence on the bloc’s economic performance and an expected grand coalition deal between Merkel’s Conservatives and their previous partners, […]
The Germany 30 index has managed to cross above the 12,000 handle – a level that may be of psychological importance – after previously falling as low as 11,729.50 during Monday’s trading and coming close to the one-year low of 11,691.60 that was recorded in early February. The bias in the short-term is looking bearish […]
