WTI crude oil futures have been skyrocketing over the last four weeks, recording a new three-year high of 64.05. In the daily timeframe, the price has just successfully surpassed the 161.8% Fibonacci retracement level of the last big bearish movement with the high at 55.40 and the low at 42.00. The aggressive run started after the rebound on the […]
The GER30 index has experienced a pullback from the latest highs at 13426.80. After yesterday’s selling pressure it has failed to retrace the move and has instead produced a sideways consolidation pattern. The channel has been formed, and despite breaking down below the channel bottom at the end of 2017, price action returned to within […]
Here are the latest developments in global markets: FOREX: The US currency remained in the green relative to most majors though it – for the most part – gave up on a portion of gains made earlier in the day. The dollar index traded 0.1% higher at 92.45. The antipodean currencies were the ones advancing […]
Raising interest rates is what the Fed is highly anticipated to do in 2018 as part of its plan to tighten monetary policy. However, the timing and the speed of the rate adjustment remains in question as long as inflation shows little sign of accelerating towards the central bank’s target. On Friday, the Bureau of […]
The Australian dollar rallied on Thursday on the release of data showing better-than-expected retail spending. The Australian Bureau of Statistics said month-on-month retail turnover rose 1.2 percent in November, triple the estimates of economists and the biggest jump in 5 years. The growth was attributed to a surge in electrical goods sales spurred by the […]
AUDCAD is recording an aggressive bullish run and surged almost 1% over the previous two trading days. The price completed the second green day and during European session printed a 2-month high near the 0.9900 psychological level. Prices broke above the 0.9880 level and are trading well above their simple moving averages (14 and 20). The bullish […]
The US dollar index continues to hold in a bullish correction phase after the sharp roller coaster to the downside. The rebound on the 91.44 support level drove the price to the upside hitting a 7-day high of 92.34. In the 4-hour chart, the index is currently trading slightly below the 23.6% Fibonacci retracement level of the down-leg from […]
NZDUSD has held its uptrend since December 2017 when it broke above the key 0.6900 level to rise all the way up to the 0.7200 handle yesterday. The market has paused around this level after touching a 3-month high of 0.7230. Looking at the 4-hour chart, the moving averages are bullishly aligned (50 SMA and […]
Central Bankers – particularly the Fed and ECB – are faced with the problem of low inflation. It seems, traditional models of inflation forecasts are no longer working. Consider this. After the financial crisis, the central bankers brought rates down and initiated unconventional policy methods like QE. In other words, they initiated a policy of […]
Here are the latest developments in global markets: FOREX: The US dollar index traded slightly higher during the Asian trading session Thursday, after experiencing heightened volatility on Wednesday. The index initially took a dive on reports that China is considering to slow or cut its US bond purchases, but managed to recover its losses to trade […]
In the December ECB meeting, there was no new news. As expected, the MPC left rates unchanged and signaled a continuation of their easing program. As you recall, in the October meeting, the committee announced a plan to continue implementing the asset purchases until September this year. This January, the asset purchases will be reduced […]
In 2017, the dollar fell more than 10% against its global peers. Among the currencies that strengthened against the dollar was the Canadian Dollar. The dollar fell from a high of 1.37844 to a low of 1.2063 in September. After that, the dollar tried to recover, rising to the 1.2902. It didn’t go well. As […]
We would like to inform our clients that due to Martin Luther King Jr. Day and Australia Day, the trading hours of various instruments will be affected on 15 and 26 January 2018. The normal trading hours will be resumed from then onwards. Please review the tables below to see which instruments will be affected […]
During yesterday’s trading session headlines broke that China would reduce or halt its purchase of US Treasuries. This set off moves in Currencies, Commodities, Bonds and Stock. Gold reached a high of 1327.5, the US 10-Year got to a high of 2.59%, SPX 500 fell to 2736.50, while USDJPY fell to 111.285. GBPUSD jumped up […]
USDJPY has turned more bearish in the near term after the break below the key 112 level and 200-day moving average yesterday to reach its lowest level in six weeks. Momentum is weak and the daily RSI is indicating a bearish bias after dipping below 50. Risk remains skewed to the downside until prices make a […]
The Australian dollar had a strong upside rally in the previous four weeks, driving the aussie/dollar pair to a new three-month high. A question is if the prices will continue to rise after the release of retail sales overnight and more importantly during the year as the Reserve Bank of Australia (RBA) remains concerned about […]
Chinese trade data for the month of December are scheduled for release on Friday at 0445 GMT. Analysts forecast exports and imports to grow solidly, though at a softer pace relative to November, a month during which both figures stormed past expectations to expand by double digits on a yearly basis. Exports and imports are […]
The Nikkei 225 was on a tear in 2017, as Japan’s economic recovery and the Bank of Japan’s (BoJ) massive stimulus program helped the popular index to reach multi-decade highs, finishing the year 21.5% higher. A continuation of this environment could support the Nikkei even further in 2018, though the pace of the index’s appreciation […]
EURJPY extended its bearish phase by dropping another leg lower into the 133 handle. The downtrend since January 5 from the high of 136.63 has not shown signs of reversing. RSI on the 4-hour chart is well into bearish territory although close to oversold levels. This suggests some easing in downside pressure for now. Short-term […]
EUR/GBP Technical Analysis: Just a Matter of Time In the past five days, the EUR/GBP pair has fallen from a high of 0.8926 to a low of 0.8806 as shown below. Since then, the pair has been going back and forth, trying to establish weak support and resistance points between the 0.8834 and the 0.8806 […]
EURUSD has pushed higher to 1.20000 on the back of Chinese decisions to reduce or halt the purchase of US Treasuries. This had led to moves across the board in Currencies, Stocks, Commodities and Bonds. The US Dollar has weakened further on this news, which can be seen as a counter to the muted report […]
U.S. Crude Oil (WTI) traded above the $63 handle on Tuesday, as the American Petroleum Institute (API) reported an exceptionally large draw of 11.19 million barrels of U.S. crude oil inventories for the week ending 5th January, against an expectation of 3.89 million barrels. This is the sixth week in a row that API has […]
updated January 10th 2018 Everyone is talking about bitcoin again but its not because its still on a meteoric bull run, the last few days we have seen the cryptos’ price drop significantly – reaching a low of $13,412.99 today (Jan 10th 2018). This hasn’t been its only price-hiccup either. The original post below goes […]
Here are the latest developments in global markets: FOREX: The dollar took a knock after Chinese officials recommended to slow down or cut purchases of US Treasuries according to Bloomberg. The dollar stretched its losses toward a two-week low of 111.29 (-1.08%) versus the yen and sank marginally below the 92-key level regarding its index against six major currencies […]
The Dow Jones industrial average index had one of its best performances on record in 2017, climbing an astounding 25%. The strong US economic outlook and expectations for a major tax overhaul were probably the main drivers behind the index’s surge. Looking at 2018, the Dow’s outlook remains bullish amid potential for major stock-buybacks by […]
The UK 100 index hit a fresh all-time high of 7,756.10 during today’s trading, with the index posting a notable rally since the beginning of December. The Tenkan- and Kijun-sen lines are positively aligned, pointing to a bullish picture in the short-term. The RSI is supporting this view: the indicator remains on the rise, though […]
Silver has come under pressure over the last couple of days, in the short to medium-term timeframe, following the sharp bullish rally in the previous days where the price touched a two-week high of 17.25. The price plummeted more than 1.5% in the last two bearish daily sessions and during European trading today, it hit the 50.0% Fibonacci retracement […]
Here are the latest developments in global markets: FOREX: The US dollar index was marginally lower on Wednesday, after previously trading higher for three days in a row. STOCKS: Asian markets were mixed, with Japan’s Nikkei 225 declining by more than 0.2%, pulling back from the 26-year high it reached earlier in the week, though still […]
On 24 February 2018, XM returns to Manila, Philippines, with a free seminar offered to online investors on CFD (Contracts for Difference) trading techniques. Though not for the first time in the Philippines, the XM team accompanying event presenter Jonathan Lou Reyes are very much looking forward to welcoming existing and prospective clients to the […]
AUDUSD is neutral in the short term after a strong rally pushed the market to overbought conditions and consequently upside momentum faded. AUDUSD remains under corrective pressure after failing to breach the key 0.7900 level but came close to it last week. The second bullish phase that started after the break above the 200-day moving […]
