Here are the latest developments in global markets: FOREX: The dollar hit a two-week high against a basket of currencies as optimism on US tax reform continued to support the currency, though concerns over a possible government shutdown restricted steeper upside movement. The euro and the pound were on track to post the third day […]
In an unsurprising move, the Bank of Canada decided to hold its benchmark lending rate at 1%, after two small hikes earlier in 2017. The BoC stated on Wednesday that it has decided to keep its target for the overnight rate right where it is, while rate hikes in July and in September continue to […]
USDJPY has not had a clear trend since January this year as the pair has been trading in a broad range between 108 – 114. In the short term, prices have moved to the upper half of the range, having firmed up this week. USDJPY has made an astounding recovery after bouncing from the 108 […]
Here are the latest developments in global markets: Forex: Sterling stretched toward a fresh one-week low of 1.3360 (-0.61%) as fears over a potential impasse in Brexit talks, which could postpone negotiations until February and therefore scale back business investments, lingered in the background. The dollar steadied versus the yen near one-week lows as concerns over a government […]
The Relative Strength Index (RSI) is one of the most popular technical indicators. It is a momentum indicator that helps identify the turning points. It was developed by J.W Wilder who created other indicators like the Average True Range (ATR), ADX, and Parabolic SAR. Other types of momentum indicators are MACD-Histogram, Rate of Change, Stochastic, […]
EURJPY continues to trade in its 3-month range but in the short-term, the bias is bearish after the pair failed to break out of the top of the range at 134.50. There is limited upside in the near term and risk remains tilted to the downside as the RSI is bearish. Looking at the 4-hour […]
Just like in the previous years, in 2018 XM will stay true to the belief that education matters. We will thus continue hosting free trading seminar series in various parts of the world. Our first destination to visit on 27 January 2018 will be Kuala Lumpur, Malaysia. The seminar titled Cryptocurrencies – Investing in Digital […]
Here are the latest developments in global markets: FOREX: The dollar weakened against its major counterparts on Wednesday as unless a deal is reached the government will run out of funds on Friday. This is spreading fears of a partial government shutdown. The pound was under pressure amid weakening hopes for progress on Brexit talks and on reports […]
Data released by the US Commerce Department on Tuesday indicated that the US trade gap rose 8.6% in October from $44.9 billion in September, as imports from China and other suppliers hit a record high ahead of the holiday shopping season. Imports hit a record $244.6 billion in October, and exports were unchanged at $195.9 […]
AUDUSD has turned increasingly bearish as the pair continues to trade below its 200-day moving average and has retraced more than half of the rise from 0.7328 to 0.8124. Prices are now close to the lowest level in six months. In the near term, the market is in a consolidation phase, capped by the 61.8% Fibonacci […]
Next on the list of central bank policy meetings is the Bank of Canada which is expected to follow its Australian counterparts and keep interest rates on hold at 1.0% at its last rate-decision for 2017 on Wednesday. Although the economy seems to be approaching full capacity conditions, the central bank is likely to maintain monetary […]
Following the Senate’s approval of the tax bill over the weekend, the Dow Jones Industrial Average posted a record-high close during Monday’s trading. Despite finishing at an all-time high though, positive sentiment from earlier in the day was not maintained and the blue-chip index gave up on most of its earlier gains. The S&P 500 […]
Here are the latest developments in global markets: Forex: The Australian dollar continued to trade around three-week highs at $0.7645 (+0.63%) following upbeat data on retail sales and the RBA’s decision to keep rates steady at record low levels. In the Eurozone though, retail sales disappointed markets with the measure diving unexpectedly to a three-week low as food […]
2nd December 2017 was a very special day for XM: we celebrated the third consecutive year of our company’s presence in Thailand with a grand gala event organised in Bangkok. The representative members of XM present at the gala welcomed event guests at Shangri-La Hotel, Bangkok, where an evening rich in entertainment, a luxury dinner, […]
The holiday season is here with us. Already, the Black Friday and Cyber Monday have come and gone, but the reality is that the shopping season will continue until the end of the year. In the just-concluded thanksgiving weekend, Americans spent an average of $800 on shopping. In China, more than $25 billion was spent […]
WTI oil futures have unwound almost all of the gains made from the recent rally off the key 57 level. The near-term bias is to the downside and last Friday’s 58.86 high remains unchallenged. Technicals are bearish on the 4-hour chart. The market has dropped below the 20 and 50-period moving averages which are negatively […]
Here are the latest developments in global markets: FOREX: The RBA held rates unchanged on early Tuesday as expected, but the aussie hit a three-week high following upbeat retail sales figures which pointed to an improved economic outlook. The kiwi also posted a strong rebound, erasing yesterday’s losses after the RBNZ governor said that the central bank […]
On Monday, the US Commerce Department released Factory Orders data for October, indicating that the continued strength in the Manufacturing sector will help support the growing US economy. With the markets forecasting a drop of 0.4% in October, Factory Goods Orders only dipped 0.1% in the midst of a fall in demand for both civilian […]
GBPUSD is in a bullish phase in the near term and is poised to re-test the September peak at 1.3656. In the medium term, the pair is neutral and appears to be trapped between the key levels of 1.3000 and 1.3600. Last week’s high of 1.3549 remains a strong resistance level. Near-term upside momentum has […]
“If the economy continues to improve as expected, it is more likely that the next move in interest rates will be up, rather than down,” said the RBA Governor, Philip Lowe in his speech at the Australian Business Economists’ annual dinner two weeks ago. But then he immediately highlighted that in the near term, an adjustment […]
Last week was the week of records. Bitcoin broke the $10,000 ceiling, the U.S stock markets continued to break records, OPEC reached an agreement to continue the production cuts, and the U.S senate passed the tax reform package. While economic data continued to dominate the market, politics had the final say. On Friday, former National […]
Here are the latest developments in global markets: Forex: Sterling rallied above 1.35 against the dollar and touched a fresh one-month high versus the euro after EU parliamentary members of the Brexit group said there was a “very good chance” of a deal and that May’s meeting with the President of the European Commission could resolve […]
In Asia, the Japanese Nikkei 225 and Topix indices both finished the day lower by 0.5%. Hong Kong’s Hang Seng rose by 0.2%, while the Shanghai Composite retreated by the same proportion. Australia’s S&P/ASX 200 slid by 0.1%. It is interesting that Asian equities didn’t benefit from upbeat sentiment following the passage of the much-talked tax […]
Gold has seen some choppy trading recently and overall the bias is to the downside as the market remains below the key 1300 level. Prices dropped sharply after an attempt to break above 1290 was not sustained. The near-term picture is less positive as the flow is back to the downside and the RSI is […]
Here are the latest developments in global markets: FOREX: The dollar bounced to a 2-½ -week high against the yen during Asian trading following the approval of the tax overhaul bill by the Senate on Saturdaydespite persisting political noise in the country. Consequently, the dollar’s strength pushed other currencies lower, with the kiwi being the worst […]
We were pleased to visit Bogotá, Colombia, on 25th November and host a free forex trading seminar to online investors. Although not for the first time in Latin America, but for the very first time in Colombia, our aim was to bring forex trading closer to all those interested in online trading and in acquiring […]
This week will be dominated by Geo-Politics as the US Tax Bill needs to be reconciled between the Senate and House, whilst UK Prime Minister May meets Jean-Claude Juncker, the President of the European Commission, Brexit Secretary, David Davis, and his opposite number Michel Barnier, plus, in an all-important oversight role, the President of the […]
EURUSD is consolidating recent gains after a strong rally from the 1.1600 area to 1.1900. A neutral phase is expected in the near-term as the market became overextended and the daily RSI indicator is indicating momentum has weakened after reaching near overbought levels at 70. EURUSD is expected to be supported on dips at key […]
The first week of December will get off to a packed start with a number of key indicators and central bank meetings set to keep traders busy. Among the highlights are Australian GDP figures for the third quarter, European industrial output figures and US nonfarm payrolls. Also in focus are central bank meetings in Australia […]
This week, several records have been broken. Bitcoin crossed the $10,000 mark while Ethereum reached its all-time high of $517. In the United States, the major indices continued their winning streak. On Thursday, the Dow cruised through the psychological $24,000 level while the S&P reached an all-time high price of $2645. The upward move was […]
