American stock indices closed higher on Tuesday, despite the drops experienced earlier in the day. This morning, index futures are trading at slightly lower levels, with a prevalent sense of caution creating pressure on Asian sites. The MSCI Asia Pacific Index, excluding Japan, is now at +0.8%, albeit trading earlier at 2% gains. The U.S. […]
Here are the latest developments in global markets: FOREX: The dollar index was marginally lower on Wednesday, experiencing little movement in the session, as investors’ attention remained fixed on movements in stock markets. STOCKS: US equity indices rebounded yesterday, temporarily alleviating some concerns that the sell-off seen earlier in the week would develop into something much […]
BoE Preview: Will Carney Live to the Expectations? Today, the Bank of England’s (BOE) starts its two-day meeting, which will culminate in tomorrow’s decision on interest rates. The meeting comes at an interesting period for the global financial markets. As you already know, global markets have seen significant swings in the past two days. These […]
GBP/JPY: In a Silent Day, Politics Could Dominate. For years, the pound was in rallying mode against the Japanese Yen. This Bull Run ended in August 2015 when the pair reached a high of 195.01. After that, the pair has been in a decline, which accelerated in mid-2016 when Brexit vote passed. The currency pair […]
AUDUSD edged sharply lower over the previous six trading days, however, during yesterday’s session, the price snapped the steep losses and recorded a positive day, following the rebound on the lower Bollinger band around 0.7835. Looking on the bigger picture, the pullback from the 32-month high of 0.8135 endorsed the bearish phase, while the short-term […]
Global Stock exchanges recovered somewhat on Tuesday, but as Asia closes, its equity markets are ending the session on the lows of the day, with the Japan 225 down to the 21600.00 area from a high of 22350.00. Whether this pattern continues into Europe remains to be seen. This switch back to risk-off mode has […]
Global stock markets have not fallen this aggressively in years. While the carnage may still have some room to run, it is important to distinguish that this appears to be merely a correction in an otherwise robust uptrend, and not the beginning of a bear market in stocks. Many have argued that a major correction […]
The UK 100 index came under severe pressure on Monday, sinking by almost 4.0% in one day towards a 13-month low of 6,917. On the way down, the market broke a critical support level at 7,195. Technical indicators hint that the recent downturn might remain in place for a while as the index is currently trading well below the 20-, 50- and 200-day simple moving average lines, as […]
WTI crude oil futures have been trading slightly lower over the last few hours and created a 3-week low of 63.10. Having a look at the bigger picture the price is endorsing the scenario for further losses, while the short-term timeframe indicates an upward tendency. In the 4-hour chart, the price dropped below the 23.6% Fibonacci retracement level at 63.84 of the last big […]
The USDJPY pair had a difficult day yesterday as the Dollar found some strength. Key support levels were tested since the start of 2018 and the price moved below 110.000. This area was used as resistance on Friday, with the high extending to just below 110.500. The low from the 26th of January is 108.277 […]
The US 30 index has plunged sharply lower since Friday losing more than 3000 points from the last all-time high on January 29. The price posted a new more than 3-month low of 23116.40 earlier today, however, it later reversed some of its losses during the European session. Prices broke below the 23.6% Fibonacci retracement level near 24000 of the […]
Here are the latest developments in global markets: FOREX: The strong correction in stock markets which emerged amid hopes that the Fed will raise interest rates faster than expected did not provide much support to the dollar, with dollar/yen rising slightly up to 109.22 (+0.11%) as demand for the safe-haven yen also increased. The dollar index […]
USD/JPY: More Downside. In the past year, the USD/JPY has been a boring pair. Unlike other currency pairs, this pair has traded in a narrow range with a high of 115.29 and a low of 107.67. As shown below, the pair has had a near-perfect horizontal support and resistance. Today, the pair erased the gains made […]
This year, the free education provided by XM continues in Southeast Asia, with two live events coming up in the Philippines in spring. Due to take place in Bacolod on 24 March and in Baguio on 14 April, the XM seminar titled The Basics of Forex Trading will be presented by Jonathan Lou Reyes, whose […]
The Reserve Bank of New Zealand (RBNZ) will announce its rate decision on Wednesday at 2000 GMT, and the forecast is for no change in policy. Even though the Bank’s cautiously optimistic bias is unlikely to change drastically amid mixed economic data, policymakers could still express their discomfort with the NZD’s recent surge. A lot […]
Since our report yesterday, FTSE 100 has fallen sharply amid a global equity rout. Given the sharp declines, it is worthwhile reviewing the technical picture again today. The UK’s FTSE 100 share index fell as much as 3.5% following dramatic sell-offs across the US and Asia, sparked by worries about inflation and rising bond yields. […]
Friday started as a normal day to most people but traders were bracing themselves for a busy day. On this day, they expected the Bureau of Labor Statistics (BLS) to release the monthly jobs numbers. At 8:00 AM, the bureau released the data that smashed analysts’ expectations. The unemployment rate remained unchanged at 4.1% while […]
The Bank of England will hold a two-day monetary policy meeting this week – it’s first for 2018 – with the announcement expected on Thursday at 12:00 GMT. The Governor, Mark Carney, gave investors a peek as to what to expect from the Bank on ‘Super Thursday’ during a hearing before the House of Lords […]
Here are the latest developments in global markets: FOREX: The dollar index was practically unchanged on Tuesday, after posting some gains yesterday. The currency’s broader decline appears to have been halted, at least for now, as investors appear to be focused more on the collapse seen in stock markets. STOCKS: US markets suffered one of their […]
GBPUSD fell as low as 1.3936, a level that is standing near the 20-day simple moving average during today’s Asian session. The pair tumbled aggressively in the last couple of days and the risk is still to the downside as price continues to move with weak movement. Also, the short-term technical indicators are bearish and […]
The shock in stock markets continues, as yesterday was the worst since August 2011. US stock markets were some of the worst hit, with the US 30 (DOW) falling -4.60% or 1175.2 points. WTI Crude Oil futures fell 2.70% or $1.82, while Gold has a modest rise given the volatility, up $5.88 or 0.44% to […]
The Reserve Bank of Australia will meet for its first interest rate decision for 2018 on Tuesday but a rate hike will be probably off the table. Although the economy recorded solid growth and consumer and business surveys improved since December’s policy meeting, household spending remained a risk, while an appreciating currency signals that this […]
AUDCAD is rising aggressively over the last hourly session and is ready to attempt the 0.9900 psychological level. The price is heading for a re-test of the 0.9910 barrier and if it jumps above it, it would confirm the recent scenario for further gains. When looking in the short-term timeframe, the pair has been developing within […]
The UK’s FTSE 100 share index fell to its lowest level in two months as global equity markets plummeted amid worries about inflation and rising bond yields. On Monday, the index was on track for its fifth day of losses. This is the longest losing streak since November. The weakness in global equity markets was […]
Gold is trading higher in the last few hours, following the strong rebound on the 1327 support level and successfully surpassed the 23.6% Fibonacci retracement level at 1335 of the last big upward movement with the low of 1236 and the high of 1366. In the 4-hour chart, the technical indicators seem to be turning positive. The […]
The German index has been forming a broadening pattern over the last few months. The bottom of this pattern has been tested, with the price holding above the trend line at present despite a move below overnight. The 200-Day Moving Average is located just above the price at 12700.00. Further resistance is at 12809.40 and […]
Here are the latest developments in global markets: FOREX: The dollar index was little changed on Monday, last trading near the 89.10 level. Sterling/dollar was down more than 0.2%, pressured by the softer-than-anticipated UK services PMI for January. Dollar/yen fell nearly 0.3%, as the broader risk-off sentiment in equity markets strengthened the yen, which is typically […]
Who would have predicted what happened on Friday? After a major bull run that started after the financial crisis, investors shifted their focus from stocks to treasuries. This led to a bloodshed in the stocks market. On Friday, the Bureau of Labor Statistics (BLS) released its monthly jobs numbers that passed analysts’ expectations. The economy […]
NZD/USD Technical Analysis: Waiting for Reserve Bank of New Zealand’s Decision. In the past three months, the NZD/USD pair has been on a strong upward trend. As shown below, the pair has had a strong 30 degrees trend, making slight higher highs and higher lows. The pair has moved from a low of 0.6781 to […]
Weekend Review: Friday’s Crash and Hopes from Germany. Over the weekend, traders and investors from around the world were processing the market crash in the United States. As you remember, Friday seemed like a good day. In the morning (U.S time), the Bureau of Labor Statistics (BLS) released its highly anticipated jobs numbers. To many […]
