The next seven days look set to be extremely quiet due to the shortened Christmas holiday week, with many markets closed on Monday and Tuesday. Japan and the United States will be the only major countries releasing data, though Australian private lending figures on Friday could also attract some attention. Volumes are expected to be […]
Japan will see the release of November inflation figures on Monday at 2330 GMT. Core inflation, the measure targeted by the Bank of Japan, is expected to remain steady at 0.8% on an annual basis, well below the central bank’s target of 2.0%. Despite core CPI undershooting the BoJ’s target and being one of the […]
Silver has not had a clear tendency since June 2016 as the price has been trading in a broad descending triangle with the downtrend line starting from the $21.10 resistance level and forming a significant support barrier near $15.60. In the short term, prices have moved to the lower level of the triangle, though they have firmed up this week. The price has […]
EURGBP has been creating a bearish sloping channel since October after the peak at the 0.9030 resistance level. However, the pair is on track to post its second bullish week after the rebound from the five-month low at 0.8690. Looking at the 4-hour chart, in the short-term timeframe, the price is holding below the 0.8890 strong obstacle, while it is above the […]
Here are the latest developments in global markets: FOREX: The euro remained around Friday’s lows as investors were worried that tensions between Madrid and Catalonia would escalate after regional elections on Thursday gave a narrow majority to secessionists. The euro stood against the dollar at 1.1851 (-0.19%) while versus the pound it slipped to 0.8856 (-0.05%) […]
GBPJPY maintains a neutral bias in the short and medium term, supported at the key 150 level. The cross maintains a bullish market structure in the short term, while trading above the 50 and 200- period moving averages on the 4-hour chart. GBPJPY made a strong recovery after a brief dip below 150 in mid-December […]
The yen underperformed most of its major peers in 2017 despite the improving economic backdrop in Japan, as the Bank of Japan’s ultra-loose policy framework continued to undermine the currency. Will the yen enjoy better times ahead? That is likely to depend on whether the Bank will scale back some of its stimulus, which in […]
Here are the latest developments in global markets: FOREX: The dollar traded slightly higher versus a basket of currencies and further above a two-week low hit earlier in the week. Despite this, it was still on track to record a weekly loss. The euro was down, though it recovered to a significant extent earlier losses […]
On Tuesday, the price of WTI reached a 2-year high at $59.6 following reports of an explosion at the biggest oil terminal in Libya. Previously, WTI started a strong bullish rise since June this year when it bottomed at $42. Since then, it has made higher highs and higher lows in a near-perfect zigzag manner. […]
In many aspects, 2017 has been a successful year around the world albeit with major challenges. In the United States, the economy has continued to surge under President Trump. The just released GDP numbers showed that the economy expanded by about 3.3% with a few points being affected by the hurricanes. The unemployment rate is […]
A lot has happened in 2017 around the world but none has had more consequential effects than Donald Trump. Last year, he campaigned on draining the swamp in Washington and changing how things are done. Largely, he has succeeded in all this although; much of the focus has been on his tweets. Trump began his […]
Global stocks have gained significantly from the 2008’s collapse. In the United States, the Dow, NASDAQ, S&P 500, and the Russel have gained by 209%, 448%, 224%, and 297%. In Europe, the DAX has gained by 200% and the FTSE by 81% while in Asia, the Nikkei has gained by 186% while the Hang Seng […]
In the world of metals, silver is a unique one. It is cheaper than gold, platinum, and palladium. At the current price, you can buy an ounce of silver with about $16. On the other hand, you need more than $1,000 to buy the other three metals. Therefore, in the metals market, participants have christened […]
As expected, the biggest news this week was the passage of the tax reform package in the United States. On Wednesday, the senate passed the sweeping tax reform package that makes big promises to corporations and individuals. As soon as they passed the bill, companies started making promises. AT&T promised to pay a bonus of […]
EURUSD is trading within a descending move on a long-term timeframe over the last nine years. However, the pair has managed to advance more than 12% so far during 2017 following the rebound from the major support level of 1.0340 – a 14-year low. The world’s most traded currency pair recorded eight bullish months out […]
Here are the latest developments in global markets: FOREX: Major currencies were range-bound during the early European session, with the euro being not much stressed ahead of a regional election in Catalonia. Euro/dollar changed hands at 1.1880 around 1000 GMT (+0.09%), while euro/yen edged up to a two-year high of 134.86 (+0. 12%).The dollar was […]
The US 100 index is currently trading relatively close to the all-time high of 6,525.00 hit on Monday. The bias in the short-term remains positive as indicated by the Tenkan-sen line being above the Kijun-sen one, despite the index losing some ground in the two days that preceded. However, the stochastics are suggesting that the […]
EURUSD surged during the European afternoon on Wednesday and jumped towards the 1.1900 critical handle, almost reaching a three-week high. For the past two weeks, the euro has been developing within a narrow range between 1.1715 and 1.1862 versus the US dollar and Wednesday’s high was just 40 pips above the range’s peak. Moreover, the […]
NZDUSD is neutral in the short-term after a bullish move from the 0.6800 handle. The trend signals on the 4-hour chart are bullish, defined by a crossover of the 50 SMA above the 200 SMA. The market has now entered a consolidation phase after rising to its highest level since October 20 last Friday at 0.7033. NZDUSD […]
Since September this year, the USD/CAD pair has been trying to recover the huge losses it encountered in May when the pair fell from a one hear high of 1.3786. From May, the dollar experienced significant losses not only against the Canadian dollar but also among other currencies as shown in the dollar index chart […]
Here are the latest developments in global markets: FOREX: The dollar edged slightly higher versus a basket of currencies but was still trading not far above a two-week low hit yesterday. The US currency continued gaining versus the yen, being supported by rising Treasury yields. STOCKS: The Nikkei 225 closed down by 0.1% and the […]
On Wednesday, the US Senate approved the tax bill 51 for and 48 against, while the House of Representatives gave it final approval, passing it for the second time in two days after a procedural foul-up forced another vote. The bill passed the House with a vote of 224-201, with no Democrats voting for it […]
USDJPY has been moving sideways since March, in a broad range between 108 to 114. In the near term, the pair has firmed up after breaking above the 50-day moving average yesterday. If there is continued upside momentum, then additional gains are likely, with scope to target the top of the range. However, the level […]
CHFJPY has been trading within a descending triangle, which is a continuation pattern, since June 2017. In a daily timeframe, the price posted the third consecutive green day. The pair tested several times the upper band of the triangle so a daily close above the descending triangle and the 115.10 strong barrier could drive the price towards […]
Under an ultra-easy monetary policy which aims to hold the 10-year bond yields around zero percent, the Japanese economy has indeed shown signs of recovery in several sectors this year. However, with inflation sharply undershooting the BOJ’s target, policymakers are less likely to change their monetary policy stance at the end of their two-day meeting on Thursday. Still, the […]
2017 has been an interesting year for the countries in the Middle East. Indirectly, the year started with the presidential win of Donald Trump in the United States. Trump campaigned on an America First policy and his anti-Muslim rhetoric rocked the region. Many, including most of American allies in the region were unsure how their […]
Bitcoin (BTC) prices opened with a positive gap this week, breaking yet another fresh all time-high to touch the $19,666 level, before pulling back in the following hours. The surge came as the world’s biggest futures exchange, the Chicago Mercantile Exchange (CME), launched its own bitcoin futures contracts on Sunday. The CME is the second […]
ETHUSD recorded a negative day following the reversal from the all-time high 859.19 level. The price plunged more than 12% in just one trading day and during the Asian session, the pair hit the 706.00 support barrier. Also, the price dropped below the 261.8% Fibonacci extension level of the last downward move with high at 514.07 and low […]
The House of Representatives voted on the Tax Bill early Tuesday local time. The Tax Bill was passed by a margin of 24 votes, with 227 Yay and 203 Nay. A procedural issue during the vote means the House has to vote on the Bill a second time, as the Bill passed by the house […]
Here are the latest developments in global markets: FOREX: The dollar was not much changed versus other major currencies as trading is getting thinner ahead of the Christmas holidays and as the House of Representatives is anticipated to cast a final vote in favor of tax reforms later in the day. STOCKS: European equities were […]
