In another mostly quiet day in terms of data releases, forex market participants’ attention remained firmly on the US tax reform front. Jobless claims and wholesale inventory data out of the US did generate some interest, though market reaction following the releases was subdued. Meanwhile, Brexit negotiations are resuming today. At 1526 GMT the dollar […]
Ruth Barrons Roosevelt, writer of Overcoming 7 Deadly Sins of Trading, says there are certain obstacles or “sin” traders must avoid to be successful. This article will take a look at these sins – how they play into trading and how avoiding them can help you achieve your investment goals. 1 Being a Perfectionist Markets […]
The Japanese 225 index hit a multi-decade high of 23,414 earlier in the day before reversing to last stand 0.9% lower relative to yesterday’s close. Despite the decline, the index remains bullish in the short-term as indicated by technical indicators. The Tenkan-sen line being above the Kijun-sen line is a positive alignment pointing to bullish […]
NZDUSD made a recovery off the 0.6817 area, which is a level at the bottom of a multi-month range. On the 4-hour chart, the pair is slowly tracking higher in a slow sideways range. But the short-term outlook is looking bullish after a bullish signal was given by the crossing of the 20 and 50-period […]
In an unusual day for Japanese equities, the Nikkei 225 finished the day lower by 0.2% and the Topix down by 0.25%. Earlier in the day, the Nikkei and the Topix added 2.0% and 1.5% at their highest, with the former exceeding the 23,000 mark for the first time since January 1992. While it wasn’t […]
The kiwi recorded a strong rebound on late Wednesday, flying to a two-week high after the RBNZ left rates unchanged but raised expectations that future hikes might emerge earlier than anticipated. The aussie posted some gains early on Thursday as China, Australia’s main export partner, released stronger than projected annual CPI figures. As it was mainly expected, the […]
Earlier today the Reserve Bank of New Zealand (RBNZ) left their Official Cash Rate (OCR) unchanged at a record low of 1.75% – as the markets had forecast. More importantly was the RBNZ revising inflation forecasts upwards, which is likely to signal an increase in interest rates earlier than previously predicted. RBNZ acting Governor Spencer […]
USDJPY has been range-bound during the past 2 weeks, trading at the top of a broader 7-month range. The short-term bullish phase has lost momentum as indicated by the RSI. The pair has been trading within a range of 112.95 and 114.73 since October 23 following a steady rise off the 108.00 area. Ichimoku cloud […]
In the absence of important data releases, the US tax story remained front and center during today’s European session trading. Housing data out of Canada did gather some attention. The Energy Information Administration’s (EIA) weekly report out of the US, which is due later in the day, has the capacity to generate some movement in […]
The EU 50 stocks index has turned bearish in the short term after the recent upleg became overstretched. The RSI is trending down after scaling overbought levels, pointing to a downside momentum in the near term. Further losses could see prices finding immediate support from the middle Bollinger band at 3638. A move to the […]
EURJPY holds a neutral trend in the medium term as it has been trading within a range during the past 7-weeks. The market is currently trading at the lower end of this range with an intra-day bias that is tilted to the downside. A break below 131.50 would turn the focus to the downside to […]
In Asia, the Nikkei 225 lost 0.1%, remaining within breathing distance of the highest close since early 1992 that was recorded yesterday. The Topix, Japan’s broader index, added 0.2%, finishing the day at its highest since late 1991. Hong Kong’s Hang Seng hit an intra-day decade high before declining to finish the day 0.3% lower. […]
The dollar opened weaker in Asia as traders were concerned about a potential delay in the implementation of a corporate tax cut, while they also turned cautious on US-North Korea political developments after Trump delivered a warning message to North Korea. The kiwi stood flat ahead of the RBNZ policy meeting starting later today. A report by the Washington […]
Sterling suffered downward pressure on Tuesday as the latest monthly report from the British Retail Consortium showed non-food sales slumping in October to the lowest levels in 5 years. Total sales crept up 0.2% from a year earlier, like-for-like sales slipped 1%, a reversal from the 1.9% rise in September. British consumers continue to experience […]
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 […]
