The markets are turning their attention to who will become the next Chairperson of the Federal Reserve. President Trump recently commented that he is “very, very close” to deciding who will take the position after interviewing 5 candidates. The 5 shortlisted candidates are current Fed Chair Janet Yellen, who has held the position for the […]
GBPUSD has been maintaining a soft bias since peaking at 1.3656. The pair has managed to trade above the key 1.3000 level since declining from the September 20 high and this looks like a strong support level, which if broken would increase downside pressure. The market has mainly been pivoting around the 50% Fibonacci retracement level (1.3215) […]
The US dollar held on to most of its Asian session gains in European trading on Monday as the yen remained weak after Abe’s landslide victory in Japan. The euro slipped further into losses as the stand-off between Madrid and the Catalan authorities intensified, while sterling also lost ground amid worries about the British economy. […]
This autumn, XM continued its forex trading seminar series started in the MENA region in September, reaching its next destination on 21st October: the city of Amman, Jordan. The seminar was held at Kempinski Hotel, where all those traders who honoured us with their presence could attend forex instructor Habib Akiki’s presentation on some of […]
In Japanese equities, the Nikkei 225 and the broader Topix once again finished the day in the green, extending their multi-year high closes; the Nikkei added 1.1% and the Topix rose by 0.8%, closing at their highest since 1996 and 2007 respectively. Hong Kong’s Hang Seng declined by 0.6%, while the Shanghai Composite added 0.1%. […]
1. The lack of fresh developments on either North Korea and the succeeding FED chairman positions being filled, combined with the significant progress made on tax reform helped the U.S. dollar close out a strong week. The Dollar experienced the strongest gains against the New Zealand dollar and Japanese yen but none of the major […]
The long forex trading seminar road trip started by XM this autumn in Malaysia has reached two further destinations: Kedah and Kota Bharu, providing forex traders with extensive education about online investing techniques and strategies. Since February, Malaysian online investors have had the opportunity to join in a high number of free forex trading seminars […]
Gold has taken on a bearish bias again in the short-term after failure to sustain an upside move above the key psychological level at 1300. Prices attempted a recovery off the 1260 area but this move proved to be a correction of the September to October downtrend that is in progress since the more than […]
Foreign exchange markets were under the spell of political developments in the absence of important economic news, with developments in Japan, the US and Spain more or less setting the tone. The yen was the session’s biggest loser as Prime Minister Abe’s comfortable win over the weekend meant the probable continuation of fiscal and monetary […]
The US dollar index gained ground against its G7 counterpart currencies this week, after the Senate Republicans in Washington approved a $4 trillion budget for 2018, pushing the Trump administration proposed tax reform plan one step closer. The chamber approved the budget resolution by a vote of 51-49, with US Senators now having to reconcile […]
Welcome to the weekly outlook starting this Monday 23 October. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. As you’ll read below, it’s an active economic news week with releases coming from all major economies around the globe. On Friday, we also get inflation figures from […]
Japanese Prime Minister Shinzo Abe’s party has won a resounding, albeit not surprising, victory in Japan’s election on Sunday. The victory will maintain Japan’s ultra-easy monetary policy for the foreseeable future. The markets had been concerned that Abe’s economic policy would have been disrupted if his party did not maintain their “super majority” two-thirds win […]
EURUSD maintains a neutral bias in the short term as it continues to consolidate below the 50-day moving average. The longer-term uptrend stalled at 1.2091 in early September and since then there was a pullback that took the pair below the key 1.1900 level. The RSI and MACD indicators are neutral but the market is […]
We would like to inform our clients that considering our recent notification regarding the Japanese General Election, the margin requirements on all instruments have been automatically readjusted in accordance with the previous leverage settings of each of our clients’ trading accounts on financial instruments as of today, Monday 23rd of October 2017. All temporary measures […]
Our forex trading seminar due to take place in Florence, Italy, will be soon followed by yet another free seminar in the city of Reggio Emilia on 9 December. We look forward to meeting with our existing and prospective clients who wish to attend XM’s free seminar on the premises of Hotel Remilia, where event […]
The European Central Bank will take centre stage next week as it announces its long-awaited decision to scale back its asset purchase program. Central banks in Canada, Sweden and Norway will also be holding their monetary policy meetings. On the data front, the first estimate of third quarter growth in the UK and the US […]
As markets head into the weekend, investors during the European session were concentrated on political developments in Spain as well as on Brexit negotiations. Japanese snap elections would be also in focus on Sunday with the yen showing some weakness on Friday. However, the loonie was the worst performer out of majors today after retail sales and inflation figures came in worse than expected. […]
At 1355 GMT, a few minutes after US stock markets opened for the trading day, most major European benchmarks were looking set to finish this week’s last trading day on a positive note. The pan-European Stoxx 600 was higher by 0.25% on the day, though it was lower by 0.3% on a weekly basis after […]
German Chancellor backs up UK PM May When you are down there is nothing like a friend who can give you a helping hand to give you a lift. Yesterday, Theresa May who is in a fight to save her job and keep her shattered Conservative Party together, got the support she greatly needed and […]
In Asian markets, the Nikkei 225 and the broader Japanese index, the Topix, finished the day marginally higher, closing at their highest since October 1996 and July 2007 respectively. Hong Kong’s Hang Seng added 1.2% after yesterday’s sell-off and the Shanghai Composite rose by 0.3%. Australia’s S&P/ASX 200 advanced 0.2%. Japan will be going to […]
Trader’s psychology is a frequently used term, for good reason too – it is a collection of multiple characteristics that are important to be able to follow your trading strategy and achieve your investment goals. Let’s take a look at those characteristics: Trader’s Psychology Trading Discipline Perspective Mental Fortitude Stress management Risk Management […]
British inflation is surging, and the Bank of England (BOE) is seriously considering raising interest rates sooner rather than later. So then why is the British pound failing to pick up speed? The answer lies in Mark Carney’s latest warning on Brexit. The U.K.’s consumer price index (CPI) reached 3% in the 12 months […]
GBPJPY has been trading in a range during the past two weeks and is pivoting around the 20 and 50-period moving averages which are converging around the 148.50 level. This also happens to be the 38.2% Fibonacci retracement of the recent rally from 141.34 to 152.85. Support is expected at the 50% Fibonacci at 147.11. […]
The approval of a budget blueprint for the 2018 fiscal year, drove the dollar higher against its major counterparts on Friday in Asia, while the kiwi extended its losses in the face of economic uncertainties which might emerge under the new coalition government. Trump’s tax plan, which promises substantial tax cuts to businesses and individuals, is ready to move to the House […]
After a disastrous year, the U.S. dollar has finally shown signs of real progress. Earlier this month, the U.S. dollar index (DXY) jumped to its highest level since August on political support and weakness from other major currencies. The dollar index, a measure of the greenback against a basket of six peers, reached a settlement […]
On Thursday, the US Department of Labor released Initial Jobless Claims for the week ending October 13th that showed a resilient and stable labor market. Initial claims fell 22K to a seasonally adjusted 222K – the lowest since March 1973. The data is now becoming more realistic as the impact of the recent Hurricanes is […]
USDCAD maintains a bearish market structure as the pair continues to trade below the 200-day moving average. Looking at the short-term, prices made a corrective move higher after bouncing from 1.2061 and are currently consolidating around the 1.25 handle. Immediate support is being provided by the 50-day MA, currently at 1.2438. Breaking below this level […]
Welcome to the easyMarkets 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. Later today we have Canada’s CPI figures […]
Yesterday, the markets displayed major signs pointing towards a strong oil growth momentum, including Brent price nearing important resistance level of previous highs, anxiety regarding supplies in the Middle East, the dollar falling against most competitors, while U.S. data revealed a significant fall in crude production by almost 1.5 million barrels per day and a […]
The kiwi posted additional long red candles during the European session after the kingmaker New Zealand First party backed the opposition party early today, forming a new coalition government. The pound fully reversed yesterday’s gains in the wake of worse-than-expected retail sales. September’s British retail sales tumbled by 0.8% from August, surprising analysts who had […]
