The Reserve Bank of Australia will be completing its meeting on monetary policy on Tuesday, with a decision on the Bank’s policy rate being made public at 0330 GMT. Markets widely expect the central bank to keep rates unchanged, with the market’s focus falling on the RBA’s remarks on the outlook for the economy and […]
The Italian Election over the weekend has added a spark to Euro FX markets this morning, with volatility driving price as the market digests the implications. In the EURUSD pair, price has tested support in the form of the 4-Hour moving averages, breaking through all of the major ones, e.g. the 50, 100 and 200-period […]
Gold remains under pressure as it is training near its opening level over the last few hours. The price struggled below the upper Bollinger band at 1327 after the sharp gain on Friday. The short-term technical indicators are bearish to neutral and point to a weakness in the market. Looking at the 4-hour chart, the Relative Strength Index […]
Here are the latest developments in global markets: FOREX: The dollar index was gaining ground, while the euro was on the defensive following a cloud of uncertainty after Sunday’s elections in Italy. The aussie and the kiwi were also recording notable losses versus the greenback on the back of rising trade tensions. STOCKS: US markets […]
German Retail Sales (YoY) (Jan) was released coming in at 2.3% v an expected 3.3%, from -1.9% previously, which was revised to -0.2%. Retail Sales (MoM) (Jan) was -0.7% v an expected 0.8%, from -1.9% previously, which was revised to -1.1%. This data is usually volatile but on this occasion, it has surprised to the […]
EURUSD has completed two consecutive positive trading days following the rebound on the lower Bollinger band, which holds near the 1.2160 support level. However, currently, the pair is moving slightly lower below the 20 and 40 simple moving averages in the daily chart. Remaining in the short-term chart, technically, the momentum indicators are endorsing the recent downside […]
We would like to inform our clients that considering our recent notification regarding the Italian General Election, the margin requirements on all instruments have been automatically readjusted in accordance with the previous leverage settings of each of our client’s trading accounts on financial instruments as of today, Monday 5th March 2018. All temporary measures taken […]
The coming week looks set to be dominated by central banks as policymakers in Europe, Canada, Australia and Japan gather for their corresponding policy meetings. Economic data shouldn’t escape the headlines however as Australian GDP, Chinese trade figures and US and Canadian jobs reports will be eagerly awaited. However, early in the week, politics will […]
In February, AUDJPY recorded its worst monthly performance since April 2016, posting a loss of 5.8%. The negative sentiment remains strong in the first days of March, with prices hitting a 10-month low of 81.59 today but momentum indicators signal that the market could be overextended in the four-hour chart. The Relative Strength Indicator (RSI) […]
On Thursday, President Trump said that the U.S will impose tariffs of 25% for steel and 10% for aluminium and that these tariffs will be implemented without targeting specific countries. The main trading partners of the U.S. have reacted by declaring they will take retaliatory steps. U.S. equity markets fell on worries that this action […]
Bitcoin is currently fluctuating near $11,000. At the time of writing, the benchmark cryptocurrency pushes below $11,000, with the most popular altcoins following the same trend. For the past week, cryptocurrencies have traded sideways. The market was under pressure at the start of this week, following news that the Chinese government keeps trying to evict […]
Last year, amidst the global markets rally, market participants kept on throwing the caution of a trade war. As the year went on, the volatility went to the lowest level in decades. Traders expected Trump to change his mind about his protectionist policies to save the market rally he had praised since his election. These […]
Facebook stock price has been heading sharply lower over the last three days, hitting the 23.6% Fibonacci retracement level at 175.93 of the upleg with the low of 114.00 and the high of 195.10. The price extended its losses following the pullback on the 185.60 resistance level and the short-term momentum indicators are confirming the […]
Here are the latest developments in global markets: FOREX: Dollar bears remained in charge during early European trading afternoon amid trade uncertainties spurred by the US President, Donald Trump, yesterday, who said that he would impose new hefty tariffs on steel (25%) and aluminum (10%) imports. Fears that these measures could trigger a trade war between the US […]
The upcoming weekend promises to be an eventful one for European assets. On Sunday, while Italians head to the polls to elect their new leader, Germans will find out whether they have a new government, as the SPD party will announce if its members have approved another “grand coalition” with Merkel’s conservatives. The party’s decision […]
GBPJPY has been plunging sharply lower since Thursday and reached a more than a 5-month low of 145.40. The pair completed the fourth red day in a row following the significant pullback on the 150.00 psychological level. When looking at the bigger picture the price is creating a bearish correction and fell below the 23.6% Fibonacci retracement level […]
Risk-off sentiment returned to the markets yesterday, as the White House’s announcement of tariffs on industrial metals sent US stocks falling, creating lower lows. The US 30 Index broke below the 24589.00 level, which was the low of the 22nd of February. However, the price is currently finding support at the Blue supporting trend line […]
2018 is turning out to be an interesting year, and one that will be consequential for the financial markets. The year started with the unravelling of the cryptocurrencies market, with the main assets falling by more than 50%. Then, the global financial markets started to fall, proving that the markets could still fall. Then, United […]
Here are the latest developments in global markets: FOREX: The dollar declined versus a basket of currencies on Thursday after previously rising to a six-week high. Negative momentum for the US currency, which came on the back of a trade tariff decision by the US administration, is carrying through into today’s trading, with losses being […]
USDCAD has advanced considerably to a more than a 2-month high of 1.2895 during Thursday’s session, however, it ended the day slightly above its opening level. The price posted the fourth straight bullish day and the aggressive positive rollercoaster started after the rebound on 1.2460 support level. The short-term momentum indicators seem to be in agreement […]
Yesterday, the US announced Tariffs on Steel and Aluminium, which prompted an outcry from various global leaders and an acceleration in the risk-off bias affecting markets this week. The White House signalled a 25% tariff on Steel and a 10% tariff on Aluminium, starting next week. EU’s Junker said that he strongly regrets US restrictions […]
GER30, the blue-chip German index, touched a one-year low of 11691.60 on February 6 and since then has been forming a floor around the 12000 key area. The market has fiercely broken below its lower and higher-timeframe moving average lines and the Ichimoku cloud, signaling that a downtrend is underway. In the short-term, negative momentum could […]
More than one-and-a-half-years have passed since Britain voted in favor of leaving the European Union and the situation is still unclear as regards the UK’s future relationship with the remainder of the EU bloc of nations. UK PM Theresa May will be delivering a speech on Friday that aims to clarify her government’s position on […]
The latest data from the U.S. regarding jobs and income exceeded expectations, boosting the markets after a weak start this week. Following the release, the S&P500 index went up, while the USD reversed downwards. Weekly Initial Unemployment Claims in the U.S. fell to 210K, renewing 40+ year lows once more. Continued Claims is also at […]
Global stock indices ended February lower, as concerns regarding rising inflation and interest rates took a hold of markets, helping to bring “overvalued” equities back to more reasonable levels. While the outlook for stocks has remained uncertain and price action has become increasingly more choppy, this may well change over the next few weeks as […]
The US dollar index created a double bottom on February 16 near 88.20, posting a new more than 3-year low. The double bottom reversal is a bullish pattern indicating further gains on the price action as the index jumped above the significant area of 90.45. Currently, the price is recording a 7-week high near 90.75. In the daily […]
The new Federal Reserve Chairman, Jerome Powell, has recently hinted that the Fed could raise interest rates more quickly this year, causing the U.S. Dollar to surge. The Fed is now projected to overtake the Reserve Bank of New Zealand (RBNZ), which currently has one of the highest interest rates at 1.5%, by year-end. Furthermore, […]
Here are the latest developments in global markets: FOREX: Investors were in a sell mode against the pound during early European afternoon as the cloud around the Brexit story was getting larger following May’s unexpected rejection of the legal draft Brexit treaty published yesterday. Pound/dollar crawled further down to touch a fresh six-week low at 1.3726 […]
The EURGBP pair has recovered somewhat from its most recent drop lower and found support at 0.87714. It has formed a red supportive trend line with three touches and rallied back into the top half of the range. Support closer to the current price level is found at 0.88477 and the 100 DMA. The 50 […]
Canada will see the release of Q4 2017 as well as December GDP figures on Friday at 1330 GMT. Quarterly annualized growth figures are projected to show an improvement after Q3’s slump in economic activity, while monthly figures are anticipated to show that expansion eased during the last month of the year. Market participants may […]
