1. Overnight, the greenback slipped 0.4% against a basket of currencies after reports that former aides of U.S. President Donald Trump, including former campaign manager, Paul Manafort, were charged by federal authorities probing Russian interference in the 2016 election. USD/JPY dropped 0.03% to 113.15, while AUD/USD was quoted at 0.7682, down 0.08%. 2. Gold […]
With Governor Carney’s speech slated for Thursday at 12.30 GMT, markets are pushing back their glasses pondering if this might be the first UK rate hike in almost a decade – even though most analysts previously expected a hike within two years. The UK economy experiencing unexpected growth fueled the interest rate hike assumption. […]
For all those online investors eager to attend the free forex trading seminars hosted by XM in Italy this year, we have organized a series of such educational events, the latest of which took place in the city of Florence on 28th October. Our XM company representatives, together with event speaker Lorenzo Sentino, were delighted […]
USD gave up some of its recent gains on news that investigators had charged President Trump’s former campaign manager regarding the investigation of Russian interference in last year’s US Presidential Campaign. Trump’s former campaign manager Paul Manafort and another aide, Rick Gates, were both charged with money laundering on Monday. It was also announced on […]
GBPUSD maintains a neutral bias in the short term and has been trading sideways in the 1.31 to 1.33 range during the past 3 weeks. Technical indicators on the daily chart are neutral, suggesting that broader range trading will continue for now. RSI and MACD are both moving sideways and are slightly in bearish territory. […]
We would like to inform our clients that due to All Saints’ Day and Thanksgiving Day, both of which take place in November, the trading hours of various instruments will be affected between 1 November and 26 November 2017. The normal trading hours will be resumed from then onwards. Please review the tables below to […]
NZDUSD has declined considerably in recent weeks, falling to a five-and-a-half-month low of 0.6817 during Friday’s trading. The Tenkan-sen line being below the Kijun-sen line is a negative alignment pointing to bearish momentum in the short-term. Adding to this, both lines maintain a fairly steep negative slope. Should the pair continue declining, the area around […]
The US dollar continued to consolidate in European trading on Monday after recording fresh three-month highs on Friday. Speculation that President Trump is likely to opt for a dovish candidate to head the Fed triggered the greenback’s sell-off on Friday, while new political headaches for the White House further weighed on the US currency today. […]
After months and months of speculation and rumours, it looks like it is finally happening. According to the New York Times, Paul Manafort the former campaign manager for Donald Trump’s presidential campaign has been ordered to surrender as he will face charges connected to Russia interfering in the 2016 US election. His business partner, […]
The Bank of Japan will be tomorrow completing its two-day meeting on monetary policy. With inflation remaining well below the central bank’s 2% target – headline and core inflation grew by 0.7% y/y in September – the BoJ is not expected to reverse course from its ultra-easy monetary policy stance. Market participants anticipate the BoJ […]
Last week, the European Central Bank (ECB) announced a major shift in monetary policy that gave investors mixed signals about the future. The ECB has agreed to slash its monthly bond-buying program to €30 billion from the previous pace of €60 billion. In doing so, policymakers said the stimulus program will likely continue beyond […]
Seven days ago the bell of the ball which is bitcoin passed the $6,000 level for the first time in its existence. Always wanting to impress, over the weekend bitcoin did it again and set a new all-time high of $6,306.81. With it setting a new record the price of bitcoin is now up by […]
Gold remains under pressure and risk is still to the downside as prices continue to drift lower from the 1300 psychological level. The short-term technicals are bearish and point to more weakness in the market. Looking at the 4-hour chart, gold prices are looking capped by the 20 and 50-period moving averages which are negatively […]
In Asian equities, the Japanese Nikkei 225 and Topix indices finished the day flat, remaining at the multi-year highs hit on Friday when the two benchmarks posted sizable gains. Hong Kong’s Hang Seng lost 0.4% and the Shanghai Composite declined 0.8%. Australia’s S&P/ASX 200 added 0.3%. Shanghai stocks contracted the most in more than two […]
The US dollar index climbed to a three-month high, amid increasing speculations of President Donald Trump unveiling new tax reforms and strong GDP data. Real gross domestic product rose at an annual pace of 3% in the third quarter, following growth of 3.1% in the second quarter. Economists, on average, were expecting GDP growth of […]
1. Investors will be focusing on Wednesday’s Fed meeting for fresh clues on the likely trajectory of monetary policy. Fed is widely expected to hike interest rates again in December. Fed fund futures are pricing in 97.8% chance for a 25bps hike to 1.25-1.50% in December. Friday’s U.S. jobs report for October will also be […]
The US dollar faced some profit-taking against other majors, after receiving a boost the previous week on tax reform hopes in the US and strong third quarter growth while the euro was hit by the political uncertainty in Spain. Euro/dollar climbed above the 1.16 level to trade around 1.1615, as markets will be focusing on […]
On 21st October, the free forex trading seminar series hosted by XM and presented by Academia de Mercados reached its next destination, the city of Barcelona, where numerous traders joined the event to learn about the use of technical analysis in forex trading. The seminar titled Technical Analysis in Online Forex Trading was held on […]
The US Commerce Department released Q3 GDP data on Friday, showing the US economy expanded at an annual pace of 3%. With the back-to-back Hurricanes during the quarter many had expected Q3 GDP to be lower than the previous, robust, release of 3.1% – consensus forecasts had called for a release of 2.5%. The effects […]
EURUSD has come under increased pressure after dipping another leg lower to break below the head and shoulders neckline at 1.1660. The drop below what was considered to be a key support level with strong downside momentum indicates that the market has moved into a bearish phase and further weakness is expected. Prices have currently […]
Welcome to the weekly outlook starting this Monday 30 October. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. This week we see a lot of news out of the US with particular attention paid to the key interest rate decision on Wednesday. More central bank rate […]
Central bank meetings will dominate the next seven days as the Bank of England, the Bank of Japan and the US Federal Reserve all hold their policy meetings. It will be a big week for economic indicators as well, as the Eurozone releases preliminary GDP figures and the October jobs report is out in the […]
The dollar was standing broadly higher relative to most other major currencies as US quarterly GDP estimates beat expectations. However, the US currency gave up part of its gains later in the session as, according to a report by Bloomberg, US President Donald Trump is leaning towards Federal Reserve Governor Jerome Powell – a perceived […]
In the shadow of Spanish government getting ready to impose direct rule, the Catalan regional parliament has voted 70 – 10 to declare its independence from Spain. With threats coming from Spanish Prime Minister Mariano Rajoy saying that direct rule was essential to establish “law, democracy and stability” in the region, the Catalan Parliament […]
GBPJPY has been underperforming in the past two days, breaking back below the key 150.00 level. When looking at the bigger picture the pair lacks a clear trend and has been consolidating after its rally from 141.34 stalled at 152.85. On the 4-hour chart, prices rebounded off the lower Bollinger band around 149.00 but based […]
In today’s article we are going to look at 10 of the richest traders in the world. You will more than likely recognise some of the names in this list, with high flyers like Ray Dalio and George Soros featuring prominently. The top 25 highest-earning hedge fund managers and traders actually saw a significant drop […]
Out of Asia, the Nikkei 225 added 1.2% to close above the 22,000 mark for the first time since 1996. The Topix, Japan’s broader gauge of equity performance, gained 1.0% to finish at its highest since July 2007. The two exporter-heavy benchmarks were supported as dollar/yen was on the rise. The pair today touched 114.31, […]
The US currency stood higher on the day as the Asian session was nearing completion, though barring a development that makes US tax reform more likely, that was mostly due to other majors’ weakness rather than any dollar specific factors. Market participants are awaiting the advance estimate of US third quarter GDP growth which is […]
The Thursday meeting of the European Central Bank kept Eurozone interest rates at record low levels, but finally, announced the long-awaited reduction in quantitative easing. The ECB announced that it will halve its current bond purchase program from EUR 60bn to EUR 30bn a month beginning in January. The markets were expecting such an announcement […]
Welcome to the weekly review where we look back over the results of some of the previous week’s economic indicators. It gives us the chance to reflect on how much expectations were met or missed and to examine a successful trade you could have made this week. Event: EU Market Services, Manufacturing and Composite […]
