Yesterday, data from the U.S government showed that the economy grew at a slower pace than expected. The data showed that in the fourth quarter, the country’s GDP expanded at an annual rate of 2.5 percent. This was slightly lower than the consensus estimate of 2.6 percent. This was also lower than the third quarter […]
In December, the dollar weakened against the Euro. The biggest weakness came in February, where the pair moved from 1.1987 to a monthly high of 1.2531. Last month, the optimism in the US economy, the rise in volatility, the rise in government bonds, and the optimism for more hikes led the dollar higher, rising by […]
Here are the latest developments in global markets: FOREX: The dollar recorded a six-week high versus a basket of currencies ahead of Fed chief J. Powell’s hearing before the Senate Banking Committee and key data out of the US. The aforementioned high came mostly on the back of gains from previous days though, as the […]
NZDUSD is edging sharply lower over the last sessions 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 developing within a narrow range […]
USDJPY has been trading considerably lower since roughly the beginning of November, hitting a 15-month low of 105.50 on February 16. Price action is developing below the 23.6% Fibonacci retracement level near 107.70 of the downleg with the high of 114.70 and the low of 105.50. The aforementioned obstacle overlaps with the 20-day simple moving average and […]
German Gfk Consumer Confidence Survey (Mar) was 10.8 v an expected 10.9, from a prior number of 11.0. French Consumer Price Index (EU norm) (YoY) (Feb) was 1.4% v an expected 1.5%, from a prior number of 1.5%. EURUSD moved lower from 1.22370 to a low of 1.22000. Swiss KOF Leading Indicator (Feb) was 108.0 […]
Australia will see its latest business investment data early on Thursday with the release of private new capital expenditure figures (CAPEX) for the final quarter of 2017. While analysts predict a slowdown in private investments, the measure is expected to finish the year in growth territory for the first time since 2011, flagging a positive […]
On Sunday, 4th March, Italian voters will go to an election, widely accepted to be the most important in Europe this year. The results of the election in the EU’s fourth largest economy may bring the EU back to the crisis following the results of the Brexit vote. The main parties in the election are […]
Gold dropped back lower yesterday, with a loss of the 1330.00 area. It is currently trading around 1317.00, with yesterday’s low at 1312.90. Further support comes at 1311.14 and the 13000.00 level. Below is 1289.50 and 1276.40. The chart shows that, so far, a higher low has been created above the support levels reached in […]
USDSEK has turned bullish in the short to medium term, hitting a 2-month high of 8.2693 earlier today. The pair is currently trading above its moving averages (MA), while the 20-day MA is attempting a bullish crossover with the 50-day MA. The MACD is also pointing to a continuation of the month-long uptrend as it […]
Here are the latest developments in global markets: FOREX: The dollar index held onto gains during early European afternoon as investors’ optimism that the Fed would raise rates more than three times this year heightened further after Powell’s major testimony in front of the House Financial Committee yesterday. Jerome Powell, the new Fed boss, reiterated that […]
Wednesday morning saw stocks predominantly in the red, as Powell’s recent comments seem to have pushed the USD higher and led to a sell-off of risky assets. Yesterday, the Fed’s new chairman said that strong economic data is fuelling confidence in accelerating inflation, which could force the Central Bank to restrain the economy to prevent […]
In his first public appearance, the new Federal Reserve Chairman Jerome Powell, yesterday hinted that the Fed could raise interest rates more quickly this year, as the U.S. economy grows along with a pickup in inflation and wages. The U.S Dollar surged to the upside in reaction to these hawkish comments. The stronger U.S Dollar, […]
The US 30 index finished Tuesday’s trading 1.3% lower after previously reaching a near four-week high of 25,819,90. Despite yesterday’s notable decline, the Tenkan- and Kijun-sen lines remain positively aligned, continuing to project a bullish picture in the short-term. However, both have flatlined, this being a sign that positive momentum could be losing steam. Should […]
Consumer spending in the United States likely slowed at the start of 2018, data on Thursday is forecast to show, while the Federal Reserve’s preferred gauge of inflation is not expected to reveal an immediate risk of an uptick. The data on personal income and spending will be the first since the better-than-expected wage growth […]
EURJPY has been plunging since February 21 and recorded the fifth consecutive negative trading day on Wednesday. During today’s European session the pair created a new 5-month low of 130.73 and holds below the 131.15 key level, which was acting as a strong obstacle for the bulls. This penetration suggests an aggressive bearish roller coaster. […]
Here are the latest developments in global markets: FOREX: The dollar index – which tracks the greenback’s performance against a basket of six major currencies – traded almost unchanged on Wednesday, after posting significant gains earlier on Tuesday as the new Fed Chair Jerome Powell appeared quite optimistic on the US’ growth outlook in his testimony before Congress. […]
AUDUSD retreats over the last couple of sessions and risk is still to a bearish correction as price continues to drift lower from the 0.7990 resistance level. The price posted a pullback on the 20-day simple moving average on Monday and slipped below the 23.6% Fibonacci retracement at 0.7826 level of the upleg from 0.6820 to 0.8135. Price […]
German Buba President Weidmann spoke about the Bundesbank’s Annual Report, in Frankfurt, with the following comments made: policy normalisation will take a long time and if the economic upswing continues and prices rise, there is no reason to not end QE this year. He said it is important to “gradually and dependably” reduce ECB stimulus. […]
The EUR/USD pair dropped to the lowest level since February,09. The pair fell as the dollar strengthened against the Euro following hawkish statements from the new Fed chair. In his first testimony to congress, Powell indicated that the Fed would raise the rates about four times. This was unlike how the analyst community thought that […]
The British Pound (GBP) has come under renewed pressure amid the ongoing Brexit drama. Hopes of an orderly Brexit, supported by the main opposition Labour Party, were dashed on Monday as the party took a different stance. Labour is seeking a completely different Brexit deal involving a new customs union with the E.U., which raises […]
CADJPY has been plunging in the past three weeks, breaking below the 85.45 key level during the previous sessions. The aggressive sell-off drove the pair below the 20 and 40 simple moving averages in the daily timeframe, while the short-term indicators seem in confusion. It is worth mentioning that the pair recorded a fresh 8-month […]
Eurozone flash inflation figures for the month of February are scheduled for release on Wednesday at 1000 GMT. Price pressures are anticipated to ease on an annual basis, with market participants potentially extrapolating from the numbers to what European Central Bank policymakers will likely decide on when they next meet in March. Headline CPI […]
Here are the latest developments in global markets: FOREX: Major currencies were trading flat during early European afternoon as investors were waiting for the new Fed chair, Jerome Powell, to make his first major appearance before the US Congress later today. Market watchers were cautious as any language tweaks could spur noise not only in forex […]
WTI crude oil futures are edging marginally lower today, following the pullback from the 3-week high of 64.20 resistance level. When looking at the bigger picture, price action maintains a bullish tone, however, a small downside retracement is possible. In the short-term timeframe, the technical indicators seem to be slightly negative. In the 4-hour chart, from the technical […]
In the 4-hour timeframe, USDJPY has managed to hold above the 106.000 level and is this morning in a range between the 50-period MA at 107.112 and the supporting blue trend line at 106.353. Below the supporting trend line, the 106.30 level comes into play, with a move below targeting the 105.623 trend line and […]
For online traders willing to continue their educational journey with XM, we organized two forex trading seminars in Thailand this February. Online investors who joined our event in Bangkok on 17 February and in Chiang Mai on 24 February had yet again the opportunity to learn much practical information on the topic of trading multiple […]
In 2008, the global stocks markets unraveled. The markets which previously seemed unstoppable fell like a cliff. The market crash was attributed to the collapse of the housing market which investors were rushing to buy using risky debts. At the end, millions of people lost their jobs, some of the largest institutions went bankrupt, financial […]
Here are the latest developments in global markets: FOREX: The dollar index was down by around 0.15% as market attention was firmly on Fed chief Jerome Powell’s testimony before Congress. STOCKS: The Japanese Nikkei 225 and Topix indices rallied to finish the day higher by 1.1% and 0.9% respectively, pushing Japanese equities to their highest […]
The EUR/USD pair reached a monthly high of 1.2553 on February, 16th. After this, the pair started declining reaching a low of 1.2257. The monthly low for the pair was 1.2204. The sudden drop in the pair was as a result of the fears that inflation was returning. To traders, inflation is probably one of […]
