AUDUSD is edging lower today, testing the lows of the rectangle that has been in place since February 24. This is the bears’ third attempt to finally break the lower boundary of this range. For this potential breakout to be considered as valid, the bears need at least three daily closes well below the current […]
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Dollar extends recovery, stock markets slide in risk-off session Sterling takes a hit despite hot UK inflation, RBNZ sinks the kiwi Debt ceiling nerves grow – are investors focusing on the wrong risk? Fed rethink, but not for stocks There is a sense of caution in the air, with equities sliding yesterday and the dollar […]
Gold remains under pressure and risk is still to the downside as prices continue to drift lower from the 2,079.19 record high. The short-term technical indicators are bearish and point to more weakness in the market. Looking at the 4-hour chart, gold prices are being capped by the 1,984 resistance and the 23.6% Fibonacci retracement […]
On April 5, we rolled out the red carpet for our XMXclusive partners from Thailand and offered them an experience they’ll never forget at the 5-star Peninsula Hotel. It was a packed evening, including a gourmet dinner, and live music from fan favourite Wan Thanakrit. Our XMXclusive partners were treated to a once-in-a-lifetime experience, including […]
NZDUSD was steadily regaining ground after experiencing a pullback from its three-month peak of 0.6383. However, the pair retraced lower on the back of the RBNZ’s signal of a potential end to its monetary tightening cycle, with the price temporarily pausing its drop around the 200-day simple moving average (SMA). The momentum indicators currently suggest that bearish forces […]
The US 100 index is edging lower after reaching the 2023 high of 13,924. It has been an eventful year up to now with this index managing to overcome the mid-March rout caused by banking sector issues. Actually, since the October 13, 2022 low of 10,431, the US 100 index has been on an upwards […]
USDJPY is holding above the key 137.90 level and the 200-day simple moving average (SMA), suggesting that more bullish actions could come within the short-term upward sloping channel. However, the technical oscillators are showing some weakness as the RSI is pointing down, failing to jump above the 70 level and the stochastic oscillator is flattening […]
As Fed officials contemplate whether to pause or not, some vital inflation data will be watched on Friday (12:30 GMT) in the form of the core PCE price index, while the minutes of the May FOMC meeting (Wednesday, 18:00 GMT) might further stir things up in the pause debate. One thing is clear though – […]
BTCUSD (Bitcoin) has been generating a structure of lower highs and lower lows after peaking at the 10-month high of 31,064 in mid-April. Even though the king of cryptos managed to halt its decline and recoup some losses, any attempts for further advances have been repelled around the 27,500 mark. The momentum indicators are reflecting a cautiously […]
With US lawmakers unable to reach a deal on the debt ceiling, investors are laser-focused on the risk of a catastrophic default. However, the real problem for markets might be what happens after an agreement is found. That’s when the Treasury will scramble to raise its cash levels, which can drain liquidity out of the […]
NZDUSD is failing to extend its upside movement that started after the rebound off the 0.6175 support level. However, the price is currently standing above the short-term simple moving averages (SMAs) that had a bullish crossover as well. The RSI is slightly pointing down near the neutral threshold of 50, while the MACD is weakening […]
The US 500 stock index (cash) has been steadily gaining ground since mid-March, slicing through crucial technical regions such as its 50- and 200-day simple moving averages (SMAs). In addition, the index jumped to a fresh nine-month peak of 4,214 last Friday and has been rangebound since then. Despite the recent consolidation, the short-term oscillators remain tilted to the bullish […]
This week the focus of attention will be on the Reserve Bank of New Zealand policy meeting, the UK CPI data and the US Core PCE figures and the highlight would be to how NZDUSD, EURUSD and GBPUSD may react. RBNZ decision → NZDUSD This week, only the Reserve Bank of New Zealand will be […]
Following the early April surprise, the market appears to pay more attention to Wednesday’s RBNZ meeting. However, market participants seem to be confused as the probabilities for this gathering are almost evenly split between a simple 25 bps hike and another 50bps move. The kiwi would clearly like another boost against both the aussie and […]
Biden-McCarthy talks end with no deal but both sides remain hopeful Stocks subdued but dollar edges up as Fed rhetoric stays on the hawkish side Euro slips as mixed PMIs unable to lend much support No breakthrough yet in debt ceiling talks Pressure is building in Washington as there is yet to be any major […]
EURJPY had been in a prolonged uptrend, which ceased at a fresh 15-year high of 151.60 in early May. Even though the pair experienced a mild pullback from its recent peak, it quickly found its feet and stormed back higher in an effort to extend its bullish medium-term structure. The momentum indicators are endorsing this latest […]
GBPUSD is moving with weak momentum within the 20- and the 50-day simple moving averages (SMAs), indicating that a sideways move may be on the cards in the short-term timeframe. The recent outlook is also confirmed by the technical oscillators as the MACD is standing below its trigger line and near the zero level, while […]
USDCAD is edging higher today as it continues to hover around the rather busy 1.3485-1.3533 area. This is a key range that has proven its worth both as support and resistance since September 2022. Interestingly, the aggressive convergence of the simple moving averages (SMAs) employed is usually associated with an imminent strong move, but its […]
With the euro experiencing a rather difficult month and confirming the various seasonality studies, this week’s data calendar has the potential to offer even more excitement. In particular, the preliminary PMI prints and the German IFO survey are expected to be closely scrutinized as certain market participants are trying to counter the elevated ECB rate […]
Powell signals Fed may be done raising rates, pushing June hike odds into reverse Dollar takes a tumble but quickly finds its footing Stocks also struggle amid ongoing debt ceiling drama as clock keeps ticking Powell takes over pause debate, sides with the doves Fed Chair Jerome Powell waded into the policy debate on Friday, […]
EURCHF has been trending lower since its latest rebound got rejected just shy of the parity level in late March. In today’s session, the pair posted a fresh seven-month low of 0.9703 before recouping some losses, indicating that this recent downtrend could resume. The momentum indicators currently suggest that bearish forces are holding the upper hand. […]
Gold remains comfortably below the 2,000 psychological level, a significant drop from the May 4, 2023 high of 2,079. This is probably the bulls’ first serious defeat since the start of the strong upleg in October 2022. They are currently trying to recover some of their recent losses and appear to have heavily invested in […]
EURUSD has been stuck in a clear downtrend after peaking at the 13-month high of 1.1094 in late April. In addition, the pair has sliced through crucial technical levels such as the 50-day simple moving average (SMA) and the ascending trendline that connected its higher lows since September 2022. The short-term oscillators are endorsing this bearish […]
With the BoE leaving the door open to more rate hikes at its latest gathering, pound traders will probably be sitting on the edge of their seats in anticipation of next week’s inflation numbers, scheduled to be released on Wednesday at 06:00 GMT. However, they could somewhat readjust their positions the day before, as they […]
GBPUSD is once again back inside the rectangle that has been dominating price action since November 15, 2022. This is the third failed upside breakout in the past 45 days, thus raising questions about the bulls’ determination. GBPUSD is currently testing the support set by both the upper boundary of the rectangle and the 50-day […]
The RBNZ looks set to raise rates for a 12th time in the coming week, while inflation figures out of the United Kingdom and United States will be crucial in shaping rate hike expectations. After some shockingly bad data recently, Germany’s PMI readings will likely capture the most attention from S&P Global’s flash surveys for […]
On April 8th, 2023, XM donated to We Listen Malaysia’s initiative ‘Pasca Banjir Johor’, which provides relief to the victims in Seri Medan, Batu Pahat, Johor, who have been affected by the recent floods. So far, our donation has helped 65 flood victims by providing them with basic necessities, including rice, eggs, cooking oil, flour, […]
AUDUSD is edging higher today but remains well inside the rectangle that has formed since February 24. This recent range-trading is a depiction of the indecisiveness of market participants to commit to a specific move. As the direction of the breakout is unknown ahead of time, the focus turns to the momentum indicators for valuable […]
Debt-ceiling headlines stay encouraging Initial jobless claims surprise to the downside Fed officials continue to appear in hawkish suits Dollar gains as June hike probability increases Wall Street celebrates the data and debt-ceiling optimism Debt-ceiling hopes, data and Fed rhetoric fuel the dollar The dollar continued to strengthen against almost all the other major currencies […]
