The 2013 Leonardo DiCaprio vehicle by Martin Scorsese was based on the rise and fall of Jordan Belfort, former stockbroker current motivational speaker (no really look). After the events depicted in the film, Belfort was convicted to a 22-month sentence because of his involvement in security fraud through his company Stratton Oakmont. Unlike Belfort, the […]
The Federal Reserve minutes of the October 31-November 1 meeting are due at 1900 GMT with investors being on the lookout for any signals on the outlook of monetary policy. Communication by Fed officials has broadly supported the view for an additional rate hike – the third such move this year – to be delivered […]
AUDJPY followed a downtrend after it posted a two-year high at 90.28 in September, going all the way down to a five-month low of 84.74 and crossing below the Ichimoku cloud and the exponential moving average lines (EMA). Risk to the downside remains in the short and medium-term according to technical indicators. The pair is […]
EURJPY has fallen back down to the lower end of its 2-month range. The pair is in a bearish phase in the short-term but neutral in the medium term, trapped between 131.50 and 134.50 since late September. The sharp drop from the November 15 high of 133.87 appears to have become exhausted and the market […]
Asian stock markets extended their gains during today’s trading with major benchmarks hitting fresh multi-year highs or coming close to recently hit multi-decade peaks. In Japan, the Nikkei 225 and Topix indices added 0.5% and 0.3%, coming closer to their highest since the early 1990s. Hong Kong’s Hang Seng rose by 0.6%, closing at a […]
The dollar was on the backfoot in Asia on Wednesday as the US yield curve flattened to its lowest spread in a decade, while dovish comments from the Fed chief late on Tuesday dragged the currency even lower ahead of the Fed meeting minutes. Energy markets also posted significant moves during the session, with oil prices heading towards two-year high levels. […]
Today sees the release of the UK’s Autumn Budget with the markets believing this financial statement is critical for Prime Minister Theresa Mays’ survival. Following the very narrow victory she had in the recent General Election, this Budget could provide May with an opportunity for redemption from voters. The Prime Minister is treading water as […]
AUDUSD has fallen to its lowest level in five months and has turned increasingly bearish after breaking below its 200-day moving average. The slide from the 0.8124 peak is still in progress and shows no sign of reversing yet. The market has retraced over 61.8% of the rise from 0.7328 to 0.8124. The break below the key […]
The aussie overperformed its peers during the European session, posting a strong rebound after the RBA governor ruled out the possibility of expanding stimulus monetary policy. On the other hand, the Turkish lira hit a record low against the greenback after the Turkish president threatened to take control of the Central Bank of the Republic […]
The euro is once again dogged by political risks as the collapse of the coalition talks in Germany has raised the prospect of months of uncertainty in the Eurozone’s biggest economy. The announcement on Monday of the collapse of the three-way coalition talks between Chancellor Angela Merkel’s party, the CDU/CSU, the pro-business Free Democratic Party […]
There are people out there that are trading bitcoin with just $815 when its price is more than $8000? OK that might have come off as a bit too sell-y, but hear me out. In CFD and Forex trading there is a service most brokers offer called leverage. What is leverage? In extremely basic terms […]
The US 500 index has been rising over the last two days and currently trades not far below the all-time high of 2,596.50 recorded on November 7. The positive alignment with the Tenkan-sen line being above the Kijun-sen line is painting a bullish picture in the short-term. Notice though that both lines are flat at […]
WTI oil futures have been rising steadily and closing above the 200-day moving averages since mid-September. The bullish technical picture was confirmed by the crossover of the 50-day MA above the 200-day MA but the rally lost steam at 57.89 and subsequently, the near-term trend has shifted to neutral. The market is now trapped between […]
Equities in Asia were broadly on the rise during today’s trading. The Nikkei 225 and the Topix, which more widely gauges Japanese equity performance, finished the day higher by 0.7% and 0.65% respectively. Hong Kong’s Hang Seng added 1.9%, closing at its highest in a decade, and the Shanghai Composite rose by 0.55%. Australia’s S&P/ASX […]
After having taken part at Invest Trade Fair in Stuttgart, XM participated, for the second time this year, at yet another financial exhibition in Germany, this time at World of Trading, organized in Frankfurt on 17-18 November. Acknowledged as a must-attend event by banking and financial institutions in Germany and abroad, World of Trading was […]
Trading conditions were thin on Tuesday as economic releases were few, while the US was in a holiday mode ahead of the Thanksgiving Day on Thursday. Japan is also celebrating its Labour Thanksgiving Day on Thursday. The dollar remained steady at one-week high levels during the session as political noise in Germany continued to weigh on the euro. The aussie touched […]
The EUR lost ground against many of its peers on Monday on news that Chancellor Angel Merkel’s efforts to form a coalition government had collapsed, which could result in Germany having to call snap elections. With no viable government coalition, it seems highly likely that Germany will be forced to hold new elections. For the […]
GBPUSD continues trading within the last few months’ range and has been respecting the key 1.3000 support level. The upward trajectory from multi-decade lows is still in progress and there are no signs of a trend reversal yet. The intra-day bias is to the upside. The short-term neutral trend has been ranging between 1.3026 and […]
Political noise in Germany continued to draw markets’ attention during the European trading hours as the economic calendar was lacking major releases and any progress on the US tax reforms was expected only after the Thanksgiving holidays. The euro was on track to erase losses made in the previous session but dovish remarks by the […]
There’s expected to be few drivers for the US dollar this week, with investors likely to shrug off data releases and the FOMC minutes ahead of the Thanksgiving holiday, with the focus firmly on the tax plan, which is facing a crucial vote in the Senate. The US Census Bureau will publish its monthly advance […]
Owning or trading bitcoin might seem like a dream for most people, especially since the cryptocurrency reached an unprecedented high – breaking through the $8000 level today on November 20th. And each time it inches up a little more – another person out there mutters “If only I had…”. What if I told you there […]
In Asia, Tokyo’s Topix Index declined by 0.20%, while the Nikkei 225 was trading 0.60% lower amid losses on Wall Street due to tax uncertainties in the US and a stronger yen. Chinese stocks rebounded despite the PBOC unveiling new regulations to mitigate financial risks in the asset management industry after investors realized that the new rules would take […]
Gold has shifted to a more bullish bias in the near-term after strong upside momentum last Friday pushed the metal above a key Fibonacci level. On the 4-hour chart, a bullish signal was given by the crossover of the 50-period moving average above the 200-MA. On Friday, prices rallied after a break above the 23.6% […]
This November, XM embarked on a seminar tour in collaboration with Tradepedia’s Avramis Despotis to visit as many as three cities in Australia, the last destination of which was the city of Perth, where we had the pleasure to meet with our existing and new clients in person on 18th November. After visiting Melbourne and […]
The euro was the worst performer among its major peers on Monday after German negotiations to form a coalition government broke down during the weekend. Consequently, the dollar index jumped on the news, but the yen might attract investors’ attention this week as the future of the US tax overhaul is still unclear. The German Chancellor, Angela […]
Europe’s longest-serving leader is currently standing on the abyss of an uncertain future. Angela Merkel’s attempt to form a coalition with the Free Market Liberal party(FDP) collapsed over the weekend with the FDP walking out and with its leader saying there was no “basis of trust” to form a new German government. The failed […]
Speaking at the Frankfurt European Banking Congress, ECB President Mario Draghi, commented that “although the eurozone economy was robust” recovery was still heavily reliant on stimulus from the European Central Bank. He stated that positive economic growth alone was not enough to allow the ECB to increase the pace of monetary policy normalization. The current […]
What do Warren Buffett, George Soros and Carl Icahn have in common? They were Great Depression-era babies who went on to become the most successful traders of all time. With a combined net worth of more than $100 billion, these self-made investing pioneers have redefined what’s possible in the world of financial trading. Although all […]
EURUSD is bearish in the short-term but is little changed in the big picture with little signs of a reversal in the underlying bull trend. The market is currently testing the 50-day moving average after breaking below the 23.6% Fibonacci retracement level of the rise from 1.0820 to 1.2091. The intra-day bias is tilted to […]
Housing data out of the US and Canadian inflation numbers did manage to attract some attention during today’s trading though the tone for the day was set earlier with developments on the US political front – most notably a potential connection between the Trump campaign and Russia and progress on the tax story – getting […]
