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 […]
As trading progressed, the pan-European Stoxx 600 deepened its losses relative to morning trading, recording a three-week low of 387.81 at its lowest. At 1330 GMT, it was down by 0.9%, not far above the aforementioned low and with all industry sectors comprising the index being in negative territory. Major European benchmarks also remained in […]
Inflation and retail sales numbers out of Canada on Friday will be scrutinized for clues to a possible year-end rate hike by the Bank of Canada, following comments recent remarks from BoC Governor Stephen Poloz that suggested a pause after two consecutive hikes. The Canadian dollar has rallied by over 7% against its US counterpart […]
Having missed the 8pm GMT deadline to renounce its claims to Independence, the Catalonia Government now faces losing all its powers as Spain moves forward in suspending Catalonia’s autonomy. Prime Ministers Rajoy’s government has confirmed that they will implement Article 155 of the constitution restoring full control of Catalonia to Madrid. The Catalan […]
In Japan, the Nikkei 225 and the country’s broader gauge of equity performance, the Topix, gained 0.4% and 0.3% respectively, extending their streak of positive closes and yet again renewing multi-year highs. Hong Kong’s Hang Seng and the Shanghai Composite declined by 1.9% and 0.35% respectively. Australia’s S&P/ASX 200 added 0.1%. Chinese GDP growth figures […]
NZDUSD has shifted its near-term bias to bearish after dropping sharply to break key support at 0.7055. The odds are high for a move towards the next major low in the 0.6800 area. On the 4-hour chart, RSI has fallen into bearish territory below 50, indicating momentum is tilted to the downside. Price action is […]
A day after China’s twice-in-a-decade Communist Party Congress commenced, statistics out of China showed that the economy continued to grow above the government’s annual target, giving more confidence on President XiJinping’s leadership. However, the expansion was slightly softer relative to the previous quarter, with the Australian dollar falling slightly in the wake of the data. […]
Earnings season is upon us, and Wall Street is looking sharp. A slew of early performances suggest American companies are poised for another quarter of year-over-year earnings growth. According to FactSet, a financial research firm, 6% of S&P 500 companies have reported actual Q3 earnings as of 13 October. Four-fifths of those companies reported per-share […]
On Wednesday, data released by the UK Office for National Statistics (ONS) showed average weekly earnings (excluding bonuses) rose 2.1% in August – slightly higher than the 2% forecast. However, in real terms, due to higher inflation, they fell 0.4% on the year before. The swaps market is expecting an 80% chance of a rate […]
USDJPY is neutral both in the short- and medium-term. A broad range of (roughly) 108 and 114 has been formed since March and this is highlighted by a lack of direction in the major moving averages (50,100 and 200-day). Price action in the near-term since September 20 shows a consolidation range between 111.46 and 113.43. […]
While China was in the spotlight during the day, with the Chinese President Xi Jinping opening the country’s biggest political event, the Communist Party Congress, in the US, President Trump showed opposition to the bipartisan healthcare deal, driving the dollar lower. The pound also weakened after employment data showed that UK real wages remain negative. […]
Inflation in the United Kingdom rose to the highest in 5½ years in September, reaching 3% year-on-year, data out on Tuesday revealed. The figure is one full percentage point above the Bank of England’s target of 2%, adding pressure on policymakers to reign in the build-up in prices being generated by sterling’s depreciation following the […]
