The financial markets have provided plenty of inspiration for the film industry. Since the 2008 financial crisis, Hollywood has delivered some killer adaptions of some of Wall Street’s most interesting characters. In the following article, we explore five movie traders based on real people. Jordan Belfort: The Wolf of Wall Street In 2013, Leonardo […]
USDCAD is trading higher and moving further away from the more than two-year low of 1.2061. After stalling at the key 1.25 level, the pair resumed its rise, with 1.30 now in sight. USDCAD looks set to extend its correction from the 1.20 area in the coming weeks as risk is clearly tilted to the […]
The advance estimate of third quarter GDP growth in the US will be released tomorrow at 1230 GMT with forecasts projecting a slowdown from the second quarter’s 3.1% expansion on an annualized basis to 2.5%. Economic activity, as reflected by the rise in Gross Domestic Product, grew by 1.2% in the first quarter of the […]
The euro reversed lower from a near one-week high after the ECB pledged to maintain easy monetary policy even as it announced a reduction in its monthly asset purchases. The single currency slipped back below $1.18, while the US dollar was once again eyeing the 114 yen level amid reports that incumbent Fed chief Janet […]
ECB decided to act by cutting QE to 30 billion per month from 60 billion per month from January 2018. Though this action should be considered a bullish move, the ECB also announced that they will be extending it till at least September 2018 with room to extend it further has woken up the bears. […]
With Japanese computer game giant Nintendo set to release its latest Super Mario game to the hordes of computer game geeks tomorrow there is another Mario who will take the lime light today. Starting at 11:45pm GMT today the ECB will announce its base rate decision and though it is expected to be a damp […]
After yesterday’s decline that ended their long streak of gains, the Japanese Nikkei 225 and the Topix indices advanced by 0.15% and 0.1% respectively during today’s trading. Hong Kong’s Hang Seng lost 0.4% and the Shanghai Composite added 0.3%. Australia’s S&P/ASX 200 rose 0.2%. Today’s decision on monetary policy by the European Central Bank at […]
NZDUSD maintains a bearish bias since declining steadily from the September 20 peak of 0.7434. Downside pressure in the market increased after the bearish crossover of the 20 and 50-period moving averages on the 4-hour chart. The recent sharp decline has shown signs of exhaustion, with RSI at oversold levels, as the market pauses just […]
As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week. The dollar index, which measures the strength of the US currency versus the currencies of six […]
On Wednesday, the UK Office for National Statistics released Gross Domestic Product, that beat expectations, coming in with growth of 0.4% in Q3. Improving by 0.1% on the previous quarter of 0.3%, UK Chancellor Phillip Hammond commented that it showed a “resilient economy which is supporting a record number of people in employment”. The mainstay […]
USDJPY has been neutral during the past 7 months, with the market trading in a broad range between roughly 108 and 114 since mid-March. The recent rally off 108 to 114 has lost steam. Technical indicators are in bullish territory (RSI above 50 and MACD above zero) and suggest the market should be well supported […]
We would like to inform our clients that due to the end of Daylight Savings in Europe on Sunday, October 29th 2017, and in the United States of America on Sunday, November 5th 2017, the trading hours of various instruments will be affected between 29 October and 6 November 2017. The normal trading hours will […]
The British pound was a notable gainer during today’s trading as forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the loonie, aussie and the kiwi and […]
The US 30 stock index reached another all-time high of 23485.10 yesterday as the index extended its second longest bull run in its history. Prices broke above the 23000 level for the first time on October 17 and are trading above their moving averages. The bullish picture in the medium term is further supported by […]
Chart patterns play an important role in the life of a trader. Regardless of your trading style or level of experience, charts will help you identify and execute profitable trades. Below, we look at five popular chart patterns you can leverage in your trades. Remember: all chart patterns are a way of viewing a series […]
The market can often be full of surprises. And the UK GDP released today proved just that. GDP for the quarter showed a surprise increase coming in at 0.4% compared to the expectation of 0.3%. UK economy so far in 2017 has shown slow and steady growth with the first two quarters growing by […]
1. Today’s eco calendar contains German Ifo and US durable goods orders. We expect their impact to be limited ahead of tomorrow’s ECB meeting. 2. The GBPUSD is the day’s biggest mover so far, after UK GDP data pointed a 0.4% growth compared to 0.3% which was forecasted. Additionally, the UK Finance Minister mentioned some […]
Asian markets projected a mixed picture today with movements from major benchmarks being fairly limited. The Japanese Nikkei 225 and Topix indices finished the day lower by 0.45% and 0.3%, ending a 16- and 12-day streak of positive closes respectively (the longest on record for the Nikkei) that brought them to multi-year highs. Hong Kong’s […]
EURJPY holds a neutral intraday bias as prices consolidate in the upper 133 handle after a rebound from 131.65 (October 16 low). More upside is possible since a bullish signal was given by the crossover of the Tenkan-sen line above the Kijun-sen line on the 4-hour chart last week and prices are currently trading above […]
The Australian dollar was the biggest mover of today’s Asian session as it plunged to 3-month lows versus the greenback after the announcement of third quarter inflation. Other major pairs were mostly holding around the previous session’s levels, with the US dollar preserving its gains. Third quarter headline inflation for the country came in at […]
You’ve probably noticed that financial advisers and analysts spend considerable time thinking about asset valuation. They know all too well what happens when an asset (or assets) become overvalued. An asset bubble occurs when the price of a market rises to levels that exceed its intrinsic value or well above historic norms, or both. […]
USD is trading close to a 3-month high against JPY on Wednesday, as rumors circulate that many Republican Senators are favoring John Taylor to become the next Chair of the Federal Reserve. Trump hosted a lunch with Republican Senators on Tuesday to gather their views on their preference for the next Fed Chief. Apparently, Trump […]
AUDUSD is under pressure and fell for a fourth consecutive day today. The pair has approached a critical area and could close below the 50% Fibonacci retracement level of the uptrend from 0.7328 to 0.8124. The bias is now clearly to the downside and a daily close below 0.7724 (50% Fibonacci) could trigger a deeper […]
The US dollar did well versus a number of currencies on Tuesday as it gained significantly versus the pound, the kiwi and the aussie. The euro closely mirrored the dollar’s gains as traders are waiting for the outcome of the ECB meeting on Thursday before moving the world’s most traded foreign exchange pair: euro/dollar. The […]
This autumn, XM started a seminar series in Germany on 21st October, the first destination of which was Berlin, where we were glad to welcome online investors, including many of our existing clients, who joined the educational event. Organized at Maritim Pro Arte Hotel, Berlin, the seminar attracted online traders interested in learning useful details […]
In Asia, the Nikkei 225 finished the day higher by 0.5%, extending its record winning run to 16 straight days. The Topix, a broader gauge of Japanese equities, added 0.7% to record its 12th consecutive daily advance. Both benchmarks currently stand at multi-year highs. Hong Kong’s Hang Seng shed 0.5% with the Shanghai Composite adding 0.2%. […]
Shortly after having visited the Philippines with a free forex trading seminar this summer, the XM team headed back to further destinations in the country with a new seminar series, the last location of which was Manila on 21st October. This year, XM has hosted several free seminars for Filipino traders engaged in continued learning […]
WTI oil futures have been moving sideways in the past two weeks and are trading in the upper half of a broader range that has been forming during the past month following the rise above 49.00 on September 13. On the 4-hour chart, there was a recent bounce ahead of the 49.00 level which is […]
1. Yesterday, the USD gained a bit against the euro, but USD/JPY failed to hold above 114. Investors are cautious to place bets in EUR/USD and USD/JPY as there is plenty of event risk in EU (ECB, Catalonia) and the US (replacement of Yellen, tax reform). 2. The euro added 0.1 percent to $1.1762, though […]
Most foreign exchange majors stayed within narrow ranges during today’s Asian session as traders were awaiting key business survey data out of the Eurozone and the United States later in the day. The only big mover was the New Zealand dollar, which continued to post heavy losses as the country was seen getting a coalition […]
