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 […]
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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 […]
Retail giant Amazon reached a fresh all-time high during Wednesday’s trading, exceeding $1,500. By the end of the session it lost some ground amid a broader market retreat, though it still finished the day higher, with its market capitalization settling at $717.9 billion. For a bit of perspective, retailer Walmart, whose stock price recorded losses […]
AUDUSD has reversed back down again after finding resistance at the 0.7990 resistance level achieved last week. Also, the price slipped below the 23.6% Fibonacci retracement level at 0.7826 of the up-leg with the low of 0.6820 and the high of 0.8100 in the medium-term timeframe during yesterday’s session. The downside pressure seems to be […]
As the US government looks to raise $258 billion in Treasury auctions this week, the risk from a ballooning US deficit is weighing on investors’ minds as concerns grow about the sustainability of the worsening fiscal shortfall in the United States. The prospect of a burgeoning budget deficit comes at a time when the country’s […]
The New Zealand Dollar has been strengthening on improving inflation expectations, as reported in a recent Reserve Bank of New Zealand (RBNZ) survey. Earlier this week, a government-commissioned report on the economic impact of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) estimated the economy would grow between 0.3 percent and 1 percent, with exporters having […]
NZDUSD is trading lower over the last four days 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 consolidating within 0.7175 – 0.7435 […]
