A lot of retail level traders use technical analysis as part of their trading strategies. Although that can be valuable data, market volatility – caused by economic calendar news – doesn’t necessarily care about head and shoulders or double top patterns. This is why if you are interested in trading you should definitely keep an […]
AUDUSD has shifted from bearish to neutral in the short-term as it continues to trade in a range since October 26 after breaking below the 200-day moving average. Risk is tilted to the downside as AUDUSD has retraced more than half of the upleg from 0.7328 to 0.8124. The pair is now trapped between the […]
The House Republicans will be meeting this week to revise the Trump administration’s tax plans announced last week as aspects of the bill is facing significant opposition by some Republicans. The bill also falls short of the Senate’s budget rules, suggesting that President Trump’s hopes for the passage of the tax reform legislation by Christmas […]
Expectations that the Fed will proceed with a rate hike in December and an encouraging report on JOLTS job openings pushed the dollar higher during European trading hours, although Fitch raised its US medium-term debt-to-GDP forecasts. On the other hand, the euro was unable to find support on better-than-expected retail sales figures and despite the news that some key ECB officials […]
The Reserve Bank of Zealand will today complete its meeting on monetary policy with the interest rate decision and monetary policy statement due at 2000 GMT. New Zealand’s central bank is not expected to deliver a significant shift in monetary policy, maintaining its official cash rate at the record low of 1.75%. Today’s meeting will […]
Back at the end of October, US crude oil inventories hurt WTI oil once again as it came in higher than expected at 0.9 million barrels as opposed to the -2.6million barrels. The fact of the matter is the oversupply that has been hurting WTI and Brent Oil since the end of June 2014. […]
WTI oil futures are at their highest level since July 2015 after a strong rally took prices above the key 57.00 level, hitting as high as 57.66. The short-term trend is clearly to the upside but the market has become overextended. This is indicated by the RSI on the 4-hour chart, which is now above […]
Bullish sentiment was strong in Asian markets today with major indices closing at multi-year highs. The Nikkei 225 and the Topix, Japan’s broader gauge of equity performance, added 1.7% and 1.2% to finish at their highest since early 1992 and early 2007 respectively. The Nikkei is now eyeing the 23,000 mark. The two benchmarks were […]
Early on Tuesday, the RBA decided to hold interest rates steady at record low levels, retaining its confidence on economic growth and the labour market. The aussie, however, posted short-lived gains following the policy statement as weak inflation continued to worry policymakers. Meanwhile, in New Zealand, the Finance Minister said that targeting the currency was not the new […]
Data released on Monday indicates that the Eurozone economy is on target to close out 2017 strongly. The latest Markit composite PMI fell to 56.0 in October, slightly lower than the previous months reading of 56.7, but well above the key 50 zone indicating positive sentiment for growth. PMI data showed the 2 largest economies, […]
GBPUSD has maintained a neutral bias during the past month after declining from the high of 1.3656. Strong support is provided at the key 1.3000 level. Near-term risk is tilted to the downside as GBPUSD continues to trade below the 50% Fibonacci retracement level of the upleg from 1.2773 to 1.3656. This level at 1.3215 […]
During the European trading hours, the pound outperformed its peers as investors stood optimistic about Brexit developments, while the euro failed to find support on robust economic data out of the eurozone. With Brexit negotiations expected to resume on Thursday, the pound was on track to post gains for the second consecutive trading day supported mainly by […]
Investing can be a challenging endeavor. It’s not even people’s fault that have this perception, as many educational systems completely ignore finance even on the personal level. Some lucky few had the privilege of learning about the value of saving and investing from home. Of those few, even fewer had parents that were portfolio managers […]
The UK economy’s resilience to the Brexit vote did not continue into 2017 as largely upbeat economic releases following last year’s vote did not manage to maintain momentum with economic activity eventually slowing down. Meanwhile, June 2016’s vote shock led to sterling depreciating versus other currencies, pushing inflation higher. Inflation is growing at a faster […]
Silver dipped below 17.00 on Friday after a short phase of consolidation and is currently trying to pare its losses on the 4-hour chart. The bias is neutral as the RSI and the MACD are laying in their neutral zones, while the metal itself has rebounded inside the Ichimoku cloud. Should the metal head up, resistance could be […]
Equities in Asia were giving a mixed picture today with most major indices finishing the day not much changed. In Japan, the Nikkei 225 closed marginally higher and the Topix lost 0.1%. Hong Kong’s Hang Seng was little changed and the Shanghai Composite added 0.5%. Australia’s S&P/ASX 200 slid 0.1%. Dollar/yen today touched a near […]
Last week was an extremely active macroeconomically – the BoE increased its interest rate for the first time in a decade, the NFP came in significantly under expectations and the EU saw a drop of its GDP from the previous period and came in under expectations 2.3%. Monday – 6/11 Today Governor Kuroda has already […]
Gold is neutral after stabilizing from a recent drop, but risk is tilted to the downside in the short term. On the 4-hour chart, oscillators are neutral to bearish. The market appears to have found near-term support in the lower 1265 area, just above the October 6 low of 1260.59. Any moves to the upside would target […]
The dollar managed to hit an 8-month high against the yen on Monday in Asia after the BOJ Governor Haruhiko Kuroda signaled a continuation of the current ultra-easy monetary policy, while persistent confidence on the US economy supported the pair as well. Oil recorded a substantial increase, rising to a two-year high amid tightening markets and as anti-corruption measures […]
USDCHF has been in an upward path after reaching a 26-month low of 0.9419 on September 8. The pair has reached and has been trading around the parity level (1.00) in recent days. The Tenkan-sen line being above the Kijun-sen line is a positive alignment pointing to bullish momentum in the short-term. The RSI adds […]
Data released on Friday showed US job growth accelerated in October after hurricane-related disruptions in the prior month, but a sharp retreat in average earnings and an increase in the number of people leaving the workforce caused concern on the robustness of the labor market. Nonfarm payrolls increased by 261K in October as 106K leisure […]
EURUSD maintains its bearish outlook after the breakdown of the key level at 1.1660. The chart pattern on the daily time frame indicates a head and shoulders pattern with a break below the neckline giving a bearish signal. Resistance at 1.1660 is expected to hold in the near term, as EURUSD continues to trade in […]
The Reserve Bank of Australia is due to announce its latest policy decision on Tuesday amid a mixed outlook for the economy. Australia’s central bank is almost certain to hold rates unchanged at 1.5% following disappointing inflation and retail sales numbers for the third quarter. Rising household debt has been holding back consumer spending, with […]
The US dollar posted gains during today’s European session, despite a disappointing October employment report, which did little in dissuading the market to expect a rate hike at the next Fed meeting. In this week’s major economic release, the US labor market rebounded less strongly than expected from the hurricane-induced slowdown of September. The economy […]
The U.S. Labour market has demonstrated particular strength. The increase in payroll employment to 261K in October, together with the revision of September data to 18K, marks almost the same increase between the -33K reported last month and the 311K increase expected. In addition, the increase in manufacturing jobs by 24K in October is a […]
1. The dollar held steady versus a basket of currencies on Friday, as investors shifted their focus to U.S. jobs data, with President Donald Trump’s nomination of Federal Reserve Governor Jerome Powell to be the next Fed Chair coming as no surprise. That broke with precedent by denying incumbent Janet Yellen a second term but […]
The central bank theme will continue for a third week following the past fortnight’s policy meetings by the ECB, Bank of Japan, Fed and the Bank of England. This time, it will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand. Data-wise, the main focus will be on […]
After the shocking NFP number released back in October which came in at -33K, there was expectation that Novembers Non-Farm Payroll would show a strong come back with a forecast of 310,000 new jobs created. However, though there was a bounce back the final number wasn’t quite as strong as the NFP came in at […]
Out of Asia, Hong Kong’s Hang Seng added 0.3% with the Shanghai Composite finishing the day lower by 0.4%. Australia’s S&P/ASX 200 advanced by 0.5%. Japanese markets were closed for Culture Day. At 1001 GMT, the overall picture in Europe was positive for the most part with the pan-European Stoxx 600 being up by 0.2%. […]
GBPJPY does not have a clear trend since rising to a high of 152.85, subsequently consolidating gains in a broad 147 – 152 range. On the short-term time frame, the pair is neutral to bearish, pausing a decline after rallying to the upper end of the range near 152 and dropping sharply to break below […]
