Canada’s employment data for January are due out on Friday at 1330 GMT and forecasts point to a relatively soft report. That said though, considering the remarkable progress the labor market has posted in recent months, some moderation appears quite normal, and may be of little concern to Bank of Canada (BoC) officials. The Canadian […]
NZDUSD has been tumbling over Wednesday’s and today’s Asian sessions, while it recorded a fresh one-month low of 0.7175. The aggressive sell-off pushed the price below several key levels such as the 23.6% Fibonacci retracement level at 0.7280 from 0.6780 to 0.7436, 0.7255 and 0.7230. In the 4-hour chart, short-term indicators are signaling a bearish movement. The Relative Strength Index (RSI) is holding […]
Here are the latest developments in global markets: FOREX: The dollar index was marginally lower on Thursday, after previously posting notable gains on Wednesday, as yields on longer-dated US Treasuries moved higher. Meanwhile, sterling was a little higher ahead of the Bank of England’s “Super Thursday” policy meeting. The kiwi dollar slipped, as the RBNZ disappointed those looking […]
The Year The World Stopped and Watched Cryptos. 2017 – Although many people would argue that it was the year the news were dominated by a certain over-tweeting President, but the truth is everyone was actually watching Bitcoin. We haven’t seen such a cultural response to anything relating to the financial markets since the stock-broker […]
USDJPY has been trading within a sideways channel in the daily timeframe since April 2017 with upper boundary the 114.50 significant and multi-tested resistance level, and with lower boundary the 108.20 support level, which has been penetrated once in September. Currently, prices are developing below the 110.50 barrier and the 20-day simple moving average. The pair tested […]
The Bank of England is expected to largely proceed as normal today on ‘Super Thursday’ when the central bank releases its policy decision and statement plus the Inflation Report. US Fed’s Dudley spoke at an event jointly hosted by Thomson Reuters and the European American Chamber of Commerce in New York about Banking Culture. Dudley […]
In the past year, the price of crude oil has surged by more than 50%. In June, the price bottomed at $42 a barrel and then started a rally that saw it reach a three-year high of $66 last month. This week however, the rally seems to have ended with the price of WTI falling […]
The Australian dollar posted an incredible rally of 8.5% against its US counterpart during early December and late January, fully reversing the September-December downtrend and setting a 2½-year high of $0.8135. However, that rally is now looking in trouble, with the pair declining 3.5% from its January 26 peak and technical indicators turning negative. But […]
USDCHF bears have been leading the market since November, driving the pair to a 2½-year trough of 0.9246 last week. This week, however, bulls seem to be taking back control, with prices being on track to break two-week highs. In the 4-hour chart, technical indicators suggest that the recent uptrend could be in play in the near-term. The […]
One of the major hallmarks of the Bull Run after the financial crisis was the lack of volatility. The implications of this lack of volatility has been dire. In the past few quarters, the trading revenues from big investment banks has fallen while others have been forced out. As shown in the chart below, the […]
Silver has come under pressure since Tuesday’s session, in the short-term timeframe. The price slipped below the 16.73 barrier and continues the strong bearish movement. As a side note, the precious metal has been trading within a descending triangle since July 2016. In the short-term timeframe, technically, the bias is bearish. Momentum indicators are also endorsing the decline. The MACD […]
The USD has found some strength during the selloff in stocks, resulting in a move higher from the lows at 1.22483 to 1.25663. It has retraced lower to 1.24900 today and looks to have formed a bear flag shown here in red. This could target 1.24500 if it breaks down and this area is strong […]
EURJPY has reversed back down again after finding resistance at the 135.80 barrier during yesterday’s and today’s trading sessions. The pair has been developing lower, reaching the ascending trend line, which has been standing since August 18. Additionally, over the last hours, prices broke below the 23.6% Fibonacci retracement level at 135.12 of the up-leg from 127.45 […]
Gold dropped more than 1% to its lowest in over three weeks on Tuesday, as a big recovery in the U.S. stock markets exerted downward pressure on the safe haven precious metal. Today’s trade saw some dip buying in the yellow metal and prices recovered 0.3%, but it remains to be seen if the rebound […]
Here are the latest developments in global markets: FOREX: The yen extended its uptrend against the dollar, sending dollar/yen lower to 109.10 as investors maintained their risk-averse behavior after the recent sell-off in stock markets. The dollar index, though, was building positive momentum on the back of a weaker euro and pound, climbing to 89.87 (+0.33%). Euro/dollar slipped […]
China will see the release of trade data for the month of January on Thursday, with analysts projecting both exports and imports to grow at a solid pace; the release is tentative, lacking a fixed time of release. Figures on January producer and consumer prices out of the world’s second largest economy will also be […]
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 […]
