Cryptocurrencies came under selling pressure as reports emerged that that Bitfinex and Tether were subpoenaed by the U.S. Commodity Futures Trading Commission (CFTC) last week. Tether is a so called stablecoin, the idea behind them is to peg a cryptocurrency coin to something like the U.S. dollar. According to the Tether website, “Tether Platform currencies […]
Here are the latest developments in global markets: FOREX: Kiwi/dollar remained the biggest winner in early European trading, approaching fresh one-week highs at 0.7400 (+0.94%), while aussie/dollar reached an intra-day high at 0.8109. Dollar/yen inched up to 108.76 but was unable to recover earlier losses despite the BOJ increasing its medium-term Japanese government bonds. Trump’s […]
End of an Era at the Federal Reserve. Today is an interesting day for Federal Reserve watchers. Today, Janet Yellen will issue her final statement as the Federal Reserve chair. To many people, it is a sad day but to others, it is the new norm. In 2014, Barrack Obama appointed Yellen to the prestigious […]
GBP/USD Technical Analysis: Focus Turns to the Fed. Yesterday, the cable rose despite a leaked document that showed the U.K’s economy will negatively be affected by Brexit. Perhaps, this happened because to investors, this was not actually news. This month, the pound has continued its climb against the dollar. It has risen from a low […]
Here are the latest developments in global markets: FOREX: The dollar index continued to retreat on Wednesday, trading 0.2% lower ahead of the FOMC policy decision later in the day. STOCKS: Japanese markets were on the defensive, with the Nikkei 225 and the Topix indices falling 0.8% and 1.2% respectively, as the recent surge in bond […]
This March, XM will return to Latin America, where we look forward to reconnecting with our clients and to welcoming prospective clients to a seminar series on the use of swing trading techniques. The seminar titled Avramis Swing Trading Techniques will be presented by Tradepedia in various cities in Mexico and Colombia between 3rd and […]
AUDUSD retreated over the previous two days, following the bounce off the 32-month high of 0.8135. Looking on the medium-term timeframe, the pair has been in bullish phase since January 2016, supported by higher bottoms and higher peaks. Despite the small retracement on the short-term chart, the price still endorses the sharp upward movement as it hit the 0.7500 […]
President Donald Trump delivered his first State of the Union Address last night from Capitol Hill. He said that he wants Congress to produce legislation that generates at least $1.5 trillion for new infrastructure investment. Every federal dollar for infrastructure should be leveraged by partnering with state and local governments and tapping private sector investment. […]
WTI oil futures for March delivery broke below what was thought of as a strong support at the 50-period simple moving average of 64.67 in the 4-hour chart, hinting that further corrections could emerge in the near term. This followed unsuccessful efforts to crawl back to a three-year high of 66.63 reached last week. The market is building negative […]
China’s official manufacturing and non-manufacturing PMIs for the month of January are both scheduled for release on Wednesday at 0100 GMT. According to forecasts, the manufacturing index is set to tick down, while the non-manufacturing print is anticipated to remain unchanged, albeit at a level consistent with healthy expansion in the sector. Even though a slight slowdown […]
The German index has dropped back from support after setting a new High last week at 13600.00. The market barely broke above the previous high at 13535.00 before the price was pushed lower. The divergence between this index and other global indices is stark. The US markets have been strong trending higher, while the Germany30 […]
EU Data release. European Union (EU) is a strange marriage. Formed almost 30 years ago, the union has seen its ups and downs. Some of its countries like Germany and France have succeeded and achieved tremendous economic growth while some like Greece and Bulgaria have struggled to achieve the promise. Then the United Kingdom (UK) […]
Tuesday sees the Federal Reserve’s Federal Open Market Committee (FOMC) commencing its two-day meeting on monetary policy, with a policy decision due on Wednesday at 1900 GMT. Markets widely expect rates to remain unchanged, though a delivery of a “hawkish hold” seems to increasingly be the view among analysts. Should this materialize, then the US […]
CADJPY remains under strong pressure after the pullback on the 89.60 resistance level on January 17. The pair plummeted towards the ascending trend line, which has been holding since September and dropped below the two-short-term simple moving averages, 20 and 40. Looking at the daily timeframe, technical indicators are holding below their neutral levels. The […]
U.S. Crude Oil (WTI) traded below the $65 handle and Brent Crude (BRENT) below $69 as prices backed off their highest levels in years. The factors that pushed crude price higher may now be coming to an end. The weakening U.S. Dollar has buoyed commodity prices recently but the steep decline took a breather on […]
Today at 10.00am GMT, EU Gross Domestic Product was published in line with the expectations. Eurozone GDP (QoQ) for Q4 came in as expected at 0.6%, from a previous 0.7%. The YoY figure for Q4 also came in as expected at 2.7%, from a previous 2.8%. GDP is the value of all produced goods and […]
Here are the latest developments in global markets: FOREX: The euro erased earlier losses against the dollar, bouncing up to an intra-day high of $1.2423 (+0.22%) after Eurostat revised upwards GDP growth readings for the third quarter. Sterling managed to rebound to $1.4111 (+0.38%) after reaching a one-week low at 1.3979 during the Asian session. […]
Here are the latest developments in global markets: FOREX: The US dollar continued to stage a recovery during Tuesday’sAsian session against most majors with the exception of the yen. The latter currency was bid as it performed its traditional role of safe-haven. The dollar index was around 1% higher from its 3-year low hit on Thursday. Rising […]
NASDAQ Futures Technical Analysis: Overbought Territory. NASDAQ is the largest index focused on technology in the world. Its components have a combined market cap of more than $10 trillion. They include companies like Apple, Microsoft, Google, Amazon Salesforce. In the past year, the index has been the best performing as investors move to growth stocks […]
President Donald Trump will deliver his first State of the Union Address at 21:00 EST (02:00 GMT Wednesday 31st January) tonight from Capitol Hill. Any reference made to the economy, trade or the U.S. dollar could result in volatility in markets. The consensus deems it likely that the speech will have a direct impact on […]
GBPUSD stalled its recent rally after touching its highest level since June 2016 but continues to trade in bullish environment as it maintains a positive trend and technical indicators signal that the market might retain this bullish phase in the medium-term. The market crawled well above the simple moving average lines (SMA) which are currently […]
The euro had a crazy rally last week, posting a weekly gain of 2.5% versus the dollar and touching $1.25 for the first time since December 2014. While this initially seemed to mirror the dollar’s, weakness emerging from US Treasury Secretary Steve Mnuchin’s currency talk-down, the ECB chief, Mario Draghi, attributed the euro’s strength partly to the block’s bold […]
Australia’s inflation prints are due out on Wednesday at 00:30 GMT and expectations are for the CPI rate to re-enter the Reserve Bank of Australia’s (RBA) target band. Will this be enough to trigger an optimistic response by the Bank when it meets again next week, or are there more hurdles to be overcome before […]
It is safe to say that Bitcoin prices have had a rough month. After peaking near $19,600 on December 18, the cryptocurrency collapsed to find a bottom at $9,222, before rebounding somewhat in recent days, currently trading near the $11,100 mark. What caused the plunge, and what could drive prices moving forward? The slump in […]
Gold is moving lower over the last hours following the strong pullback from the 4-month high of 1366. The price headed south and is challenging the short-term ascending trend line, which has been holding since December 12, near 1345 support level. The short-term technical indicators seem to be turning negative and point to more weakness in the market. […]
Pharma giant Pfizer will be releasing its Q4 2017 financial results before Tuesday’s opening bell on Wall Street. The consensus recommendation for the company is “hold”, with the average consensus recommendation for the Pharmaceuticals peer group being a “buy”. Pfizer’s EPS are expected to come in at $0.56 per share, with the average EPS […]
The GBPCAD pair has been rising steadily since its break above 1.70500 in early January but it has today dropped back under trend line support. It reached a peak of 1.76357 on Thursday. The blue rising trend line managed to hold as support on the initial series of tests but gave way late on Friday. […]
GBPUSD has gained nearly 900 pips from the December low due to strong economic data in the UK, Brexit optimism and weakness in the U.S Dollar. The UK economy ended last year with stronger-than-expected growth. Last week’s GDP data showed the UK economy grew 0.5% in the final quarter of 2017; ahead of analyst forecasts […]
Week Ahead: Focus Turns to Fed and Jobs Numbers. Last week was another week of records for all United States indices. The big four – Dow, NASDAQ, S&P, and Russel – recorded significant gains and ended the week near their all-time highs. The continued surge is associated with the current results from companies. So far, […]
Gold is having a good year, thanks to a weaker dollar. YTD, gold has gained 4% and I believe there is more to come. As shown in the chart below, gold passed the four-month high of $1357 last week. As it regularly happens, financial assets tend to retrace after hitting a significant high. The same […]
