Jerome Powell is the new Fed chair replacing Janet Yellen after her term expired this month and without doubt market watchers are eagerly waiting to hear whether his views on the economy support the pre-existing monetary policy script. Therefore, Tuesday will see investors turning their ears to Powell’s first major speech in front of the House Financial […]
We would like to inform our clients that the upcoming Italian General Election, which will take place on 4th March 2018, will possibly lead to extreme market volatility, thin market liquidity, abnormal spreads and price gaps in many currency, commodity and stock markets globally. In light of the elections, and in order to protect our […]
GBPUSD posted a red day on Monday, while after the sharp upward rally ended the day below its opening level. The price struggles within the 20 and 40 simple moving averages in the daily timeframe and the short-term technical indicators are bearish and point to more weakness in the market. Looking at the daily timeframe, […]
The ECB’s Coeure spoke in Frankfurt at a working group meeting regarding euro risk-free rates. He said that a reform of reference interest rate will help to underpin good functioning euro area money markets and trust in its related products. He also added that it is vital since monetary policy is initially transmitted through financial […]
Gold is heading south over the last couple of hours, while it started the day in green. In the 4-hour chart, the precious metal is developing within the 50.0% and 61.8% Fibonacci retracement levels of the downleg with the high of 1366 and the low of 1307. The price struggled within 1336 and 1343 after the aggressive jump towards 1340.90 during today’s […]
The S&P 500 (SPX) rallied strongly on Friday, finishing the week in positive territory. U.S. Treasury yields and Federal Reserve interest rate hike expectations remain a key factor. After the Federal Reserve released minutes of the meeting of its decision-making Federal Open Market Committee (FOMC), U.S 10-year yield hit a fresh four-year high of 2.95% […]
Here are the latest developments in global markets: FOREX: The dollar remained broadly weaker against a basket of currencies, with markets eagerly awaiting Jerome’s Powell congressional testimony for positioning on the US currency moving forward. Euro/dollar was 0.3% up and pound/dollar traded higher by 0.5%, hitting a 10-day high of 1.4069 earlier on Monday. Sterling […]
The EURUSD pair has consolidated between its moving averages over the recent sessions. The top of the range is marked out with the 50 and 100 moving averages at 1.23425 and the bottom with the 200-period moving average at 1.22814. While this range is narrow, price action is building energy here for an eventual breakout. […]
Week Ahead: Markets Await Jerome Powell’s First Statement. Last week, the focus among investors was the dollar which continued strengthening. The dollar index rose by 1.46%. It is currently trading at $89.90. This week, traders may continue to focus on the dollar especially from a Federal Reserve standpoint. On Wednesday, the new Fed chair, Jerome […]
Last year, palladium was the best performing commodity in the world, rising by more than 30%. This year, an agricultural commodity may be leading the way. YTD, cocoa has gained by more than 16%. The upward climb is associated with the perceived climatic changes in the Western African countries of Ghana and Ivory Coast. As […]
Here are the latest developments in global markets: FOREX: The dollar index which tracks the strength of the dollar against a basket of six major currencies opened lower in Asia, touching a session-low of 81.67 (-0.25%). Dollar/yen slipped to a one-week low of 106.43, while aussie/dollar and kiwi/dollar were the best performers, with the former […]
EURUSD has been trading sideways over the last three days within the 20 and 40 simple moving averages in the daily timeframe. The price lost its strong momentum for a bearish correction below a 5-month high of 1.2554 reached last week. However, the short-term technical indicators seem to be in confusion. From the technical point of view, […]
EU European Council Meetings took place on Friday and EU Council President Donald Tusk made the following comments: EU leaders agreed to spend more on migration, defence and security and all EU leaders are ready to work to modernize the budget, some ready to contribute more. Reaching an agreement on the budget this year appears […]
Economic data from Japan and the United States will comprise the bulk of next week’s releases. Australia, Canada, the Eurozone and the United Kingdom will also see important data releases. But the main focus will be on Fed Chair Jerome Powell’s first semi-annual testimony before Congress. Anxious market participants will be seeking clarity on Fed […]
EURJPY is heading lower over the last three weeks, following the pullback from the more than a 2-year high of 137.50. Prices managed to bounce up to the 133.00 handle on Wednesday but soon stepped back, falling to a fresh 3-month low of 131.22. The bearish picture in the short-term is further supported by the technical indicators. Looking at the […]
Silver has been trading in a triangle pattern on the daily timeframe, which has pinched price into a tighter range between 17.500 and 16.200. Price has dropped to the bottom half of this range below the moving averages. The market is now building energy while it remains undecided on what direction follow. Support can be […]
GBPJPY is currently paring some of Thursday’s losses but the last couple of hours it has been trading with weak momentum. Meanwhile, the price has been struggling below the 20- and 40-period simple moving averages in the short-term timeframe, which are near the 149.40 resistance level. From the technical point of view, the market could increase positive momentum in the short-term. In […]
The US 100 index has risen in the past two weeks, recovering more than half of the losses it posted in early February when it fell 12.5% over the period January 29 – February 9. During that period, the index collapsed from an all-time high of 7037, before it found support near the crossroads of […]
This week, the global financial markets continued to stabilize following weeks of increased turmoil. Here are some of the most important updates of the week. Cryptocurrencies This week, the cryptocurrencies market started positively. On Tuesday, the currencies reached a weekly high with bitcoin reaching a high of $11,797. Since then, the currencies started going down […]
The crypto market entered a new correction phase in the middle of the current week, a phase associated with investor doubts regarding the market’s future. The total market capitalisation fell to $434 billion, down from the $500 billion levels it had reached earlier. Many Bitcoin investors were observed selling the cryptocurrency as it faced resistance […]
Cryptocurrencies continued their recovery from deep losses experienced over the last month but have seen a retracement over recent sessions. The positive sentiment has been helped by new developments in South Korea, where the regulator changed its tough stance on cryptocurrency trade and indicated that they plan to normalize the virtual coin business in a […]
A follow up to last month’s webinar, trading without a strategy or risk management is a fools’ errand. Join again easyMarkets’ Senior Global Strategist James Trescothick in his interactive webinar, where he will show you how strategies are developed for different trading styles. REGISTER NOW The post Forex Webinar: Building Strategy – PART 2 appeared […]
Here are the latest developments in global markets: FOREX: Euro/dollar was under pressure during early European trading, trading lower at 1.2302 (-0.22%) as uncertainties in the political front loomed in the background ahead of the Italian general election and the German’s polls on whether Merkel’s Conservatives will formally lead the government under a coalition agreement with […]
EURCAD has advanced considerably since roughly the beginning of the year, hitting a two-year high of 1.5687 during Thursday’s trading. Price action is at the moment taking place not far below this peak. The Tenkan-sen line being above the Kijun-sen one is pointing to a bullish short-term momentum. However, the Chikou Span suggests that the […]
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 […]
