WTI oil futures are making a corrective move after outperforming in recent weeks. The underlying uptrend is still intact, with prices peaking at 59.02 on November 24 following a recent strong rally off the key 55 level. Looking at the 4-hour chart, the market has come under increased pressure after breaking below the shorter-period moving […]
The ubiquitous commodity that runs the world – oil has arguably helped create the modern world. Its cleaner than coal, it enables commerce, industry and transport of people and goods. It has been used for millennia and ancient Herodotus says it was used in building Babylonian walls and towers. The Chinese are considered the first […]
The US dollar was consolidating its gains from the previous day when hopes for tax reform were rekindled by an optimistic tweet by President Trump. Euro/dollar was pushed back below 1.19 as the single currency showed it was not yet ready for a test of the key psychological 1.20 level. The previous day’s high was […]
USD continues to languish at 8-week lows against many of its peers, as the markets are concerned over possible delays to the US Tax Reform Plan. Senator John Cornyn, the Senate Republicans’ whip, said on Monday “Hopefully we will get to the floor on Wednesday.” Asked to clarify if he meant the vote to proceed […]
GBPUSD is pivoting around its 50-day moving average, remaining mostly neutral for now, with risk tilted to the upside. The corrective move of the uptrend to 1.3656 appears to have stabilized above the key 1.3000 level after the sell-off from September 20 to October 6 has turned into a consolidation phase. The outlook is positive since the […]
With US new home sales being the day’s major release during today’s session, upcoming developments, such as US tax reform deliberations and Brexit negotiations, were in forex market participants’ minds during today’s European session. Meanwhile, the yen was advancing on some softness in Asian and European equity markets. At 1523 GMT, the dollar index, which […]
UK100 paused its recent downtrend at a six-week low of 7349.80 on November 20 and has been trading flat around that level since then, painting a neutral picture in the short-term. In the medium-term, the index is also in a consolidation phase. The index is currently located inside the Ichimoku cloud, retracing the 50% Fibonacci […]
Asian equities were broadly on the decline today. The Japanese Nikkei 225 and Topix indices both finished the day lower by 0.2% after erasing earlier gains. Hong Kong’s Hang Seng Index declined by 0.6% and the Shanghai Composite fell by 0.9%. Australia’s S&P/ASX 200 added 0.1%. The Thanksgiving holiday in the US during the previous […]
Bitcoin seems to be like the victim in a 1980’s slasher movie. It keeps running towards the exit to [generic horror movie location: camp, house, neighborhood] screaming the entire way only to be bifurcated via chainsaw and/or machete right before salvation. OK maybe that was a metaphor was a little labored, but just this year […]
Shortly after having organized a free forex and CFD trading seminar in Hungary, XM hosted yet another educational event in the Hungarian capital, Budapest, this autumn, presented by forex instructor Attila Szoboszlai. The XM company representatives, together with Attila Szoboszlai, welcomed event guests at Larus Event Center, Budapest, where Hungarian-speaking traders had the opportunity to […]
On 23rd November the much-awaited financial exhibition, ITForum 2017, took place in Milan, Italy, where XM was present as one of the major exhibitors. Each year, ITForum opens its doors to the biggest market leaders in the financial and banking industry, as well as to a great number of event visitors who would like to […]
Gold is firmer in the short-term and prices are currently pivoting around the key 1290 level. On the 4-hour chart, the market turned more bullish after the crossover of the 50 and 200-period moving averages. RSI has risen above 50 which keeps the near-term bullish momentum intact. The strong upleg above the 200-MA on November […]
Asian markets had a poor start to the week as sentiment was dampened by sliding stocks in China and South Korea and uncertainty ahead of the Senate vote on the Republican’s tax plan later this week. Investors were also cautious ahead of a busy data week for the major economies. The yen was the biggest […]
The political instability in Germany improved over the weekend, as the leader of Bavaria’s conservative party endorsed an alliance with Germany’s Social Democratic Party (SPD). With voter pressure and the need to avoid new elections, the SPD has agreed to talk with Chancellor Angela Merkel, which raises the prospect of a new “Grand Coalition” German […]
EURUSD is outperforming after a strong rally on Friday that took the pair to a 2-month high of 1.1943. Bullish technical indicators provide room for further upside. The 50 and 200-day moving averages are positively aligned and the RSI is supporting upside momentum. The market is expected to push higher towards the 1.2091 peak – a level […]
Euro bulls pushed the euro to a fresh two-month high during the European session after upbeat readings on German business climate improved sentiment on the Eurozone’s outlook and political risks in Germany eased. The dollar weakened even further amid a strengthening euro, while disappointing PMI readings added further losses to the currency. Business confidence in Germany reached new record […]
After a relatively quiet week, the economic calendar is looking busier for the coming seven days. Manufacturing PMIs will be released in most major economies as the month comes to an end, and inflation measures for the Eurozone, Japan and the United States will also highlight the week. Canada will be in focus too as […]
CHI50 started a strong rally in the mid-May, flying to a two-year high – a breath below the 14,000 – key level on November 22. But since then, the index took a knock, sinking by almost 4.0% and falling below the 20-period exponential moving average (EMA) in the four-hour chart, painting a neutral picture in […]
GBPJPY is showing signs of weakness after falling below its 50-day moving average but the 2-month neutral trend remains intact. The market continues to consolidate in a range between 147 and 152 after pausing an uptrend at a high of 152.85 on September 21. RSI has fallen back below 50 into bearish territory, suggesting there is […]
Major Asian benchmarks edged higher for the most part today, though their gains were contained. In Japan, the Nikkei 225 and the Topix finished the day up by 0.1% and 0.2% respectively, both rebounding from a 0.6% decline earlier in the day. The two benchmarks are up on the week – their tenth weekly gain […]
With markets remaining partially closed on Friday for the Thanksgiving holiday week, the dollar was firmer in Asia, gaining on rising Treasury yields. In Japan, however, investors who also had a day off on Thursday, returned to their offices, pushing the yen lower as Japanese and Chinese stocks traded higher after a strong sell-off on Thursday. The dollar index, which […]
Data released on Thursday from Markit Economics showed eurozone’s thriving economy powered ahead in November, with new manufacturing orders reaching 17-year highs and a resilient labour market that has shown steady growth. The data suggests that eurozone businesses experienced their best month in almost 7 years, with the main indicators of demand, output, employment and […]
USDCAD is consolidating its gains made after a bounce to the October 27 high of 1.2916. Momentum indicators are relatively neutral. The rally off the 6-month low of 1.2061 from September to October has lost steam after finding strong resistance at the 50% Fibonacci retracement level (1.2922) of the downleg from medium-term downtrend from 1.3793 […]
The euro was on the rise during today’s European trading relative to major other currencies as preliminary November eurozone PMI figures surprised to the upside. The greenback was on a negative footing after markets interpreted the Fed minutes from its latest meeting as being on the dovish side, while the Canadian dollar lost ground after […]
The forex industry is one of the world’s most high pressure ways of making money. However, the forex industry is full of interesting and fascinating facts, and finding out about them is a great way to relax. Here are 10 fun facts you probably don’t know about the foreign-exchange markets. The worst currency inflation […]
The UK Chancellor of the Exchequer, Philip Hammond, unveiled his 2017 budget in parliament on Wednesday, which put the focus on investing for the future as Britain readies to leave the European Union. With the Conservative government still trying to bring under control a financial crisis era debt hangover, Hammond had little room for big […]
With Japanese markets closed for Labor Thanksgiving Day, attention shifted to other Asian markets. Hong Kong’s Hang Seng lost 1.0% after yesterday closing at a 10-year high and the Shanghai Composite retreated by 2.3% to record its worst daily performance of the year. Australia’s S&P/ASX 200 finished the day flat. Sentiment is China was negatively affected […]
NZDUSD is on a continuous downward trajectory since falling from the September 20 peak of 0.7434, making a series of lower highs and lower lows. The bearish market structure is still in place, although in the near-term prices are pulling back. Short-term charts are indicating a slight reversal. On the 4-hour chart, there was a corrective bounce […]
During yesterday’s FOMC meeting concerns were aired regarding growth of inflation, raising suspicions that they may keep interest rates unchanged until the end of the year. Although most analysts assumed that an the US was poised for a third interest rate hike in 2017. This fear seemed to resonate into the markets causing gold to […]
As the Asian session was nearing completion, the dollar was little changed on the day relative to major rival currencies after yesterday posting sizable losses following the release of the minutes of the Federal Reserve’s October 31-November 1 meeting which showed differing views within the FOMC, casting doubts about the timing of delivery of future […]
