(click to enlarge) The release of the January ISM Manufacturing survey delivered a negative surprise both for risk assets and for the US dollar. Instead of backing off only slightly from December’s 56.5 figure, the index fell all the way to 51.3. Economists were expecting a drop to 56.0. The reading was the lowest since […]
Crude oil prices bounced back from its lowest closing level in almost a month on Tuesday, driven by the downbeat Chinese and US data, signaling signs that demand may drop in the future. The North American West Texas Intermediate (WTI) climbed 0.18% higher to $96.90 per barrel on the New York Mercantile Exchange. At the […]
The Australian dollar climbed against the US dollar on Tuesday after the Reserve Bank of Australia (RBA) kept its cash-rate target at 2.5%, indicating stronger economic growth. Investors digested the statement released by the bank, which showed that the Australia’s central bank signaled the end to its easing cycle and approving the exchange rate decline. […]
The latest daily video report from easyforex.com, includes all the latest fx market moving news and pairs to watch in the forex markets. Related Posts:Powell made a bold point, and Bailey did not report anything… April 18, 2024 Tuesday was interesting not only with a whole series of…Market continues to price in a plethora of […]
Overview: Since our last analysis, gold has been trading upwards. The price rejected from our corrective FE 161.8% at 1,266.00 and tested the level of 1,252.20 on high volume. If the price breaks the level of 1,238.00 on higher volume, we may see the testing of the level of 1.222.00 (FE 161.8%). Anyway, if the […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, we tested the level of 1.6553 on higher volume. We can observe that supply has entered the market at the price of 1.6690 which triggered bearish corrective movement. I have placed Fibonacci levels to find possible end of the bearish corrective phase and […]
Overview: Since our previous analysis, the EUR/NZD pair has been trading downwards, we tested the level of 1.6553 on higher volume.We can observe that supply has entered the market at the price of 1.6690 which caused price to start bearish corrective movement. I have placed Fibonacci levels to find possible end of the bearish corrective […]
The Dollar index got rejected once again at 81.50 resistance and we said in our last analysis that a pull back was to be expected. The index pulled back towards 81 and is being pulled by our MA towards 80.85. We believe that more downside pressures are to be expected and we could see the […]
February 4, 2014 – Commodities News Hot Asset For Today: Gold Price of Gold sharply increased to $1,266/ounce after the U.S. ISM Manufacturing PMI came out very low and show just 51.3 instead of expected 56.2. We saw the price jumping by $15/ounce immediately after the release. The price has been ranging since that between […]
On 1st February the XM team was in Rome to host a live seminar on the Basics of Forex Trading that was presented by instructors Massimo Golfarelli and Roberto Pesce. The event had a special focus on the most efficient trading strategies used for manual and automated forex trading. As always, the seminar was free […]
Attracting around 100 attendees, the live seminar in Cairo, Egypt on the 1st February entitled an “Introduction to Forex & Swing Trading” was deemed an overall success by XM and the participants alike. The seminar was conducted by MENA’s leading training institution Tradepedia. The course was designed to discuss the basic concepts behind trading Forex […]
Telecoms company TALK TALK (TALK.L) announced an impressive third quarter performance, boosting revenues on new customer aquisitions: revenue rose 5.1 per cent to £436m. The company added more customers to TV, Fibre Broadband and mobile following a strong promotional drive during the period. Chief Executive, Dido Harding, said: “We are delighted with the material step up […]
Carnival (CCL.L) announced last night that bookings are up 17% under its Carnival Cruise Lines brand compared to the same period last year. Possibly another indicator that the global recession is continuing to wane and good news for the company which also owns the Costa, Princess and P&O cruise brands. Net bookings were apparently 565,000 over […]
On 25th January the XM team returned to Budapest to host yet another live seminar for traders in the region. Presented by professional forex trader and instructor, Zsolt Sándor, the event attracted over 150 attendees. The seminar was specially formulated to help traders of all levels apply the various techniques demonstrated in their daily trading […]
The dollar sagged down the most in three weeks as a report showing U.S. manufacturing slowed fired up to speculation whether the economy is strong enough for the Federal Reserve to accelerate trim downs in its asset-purchase program. The U.S. currency retreated against most major counterparts after its largest monthly increase in January since May […]
Despite the upward move yesterday in Gold price, short-term trend remains down as Gold price did not manage to make a higher high and did not manage to break above the downward sloping trend line resistance that connects $1,279 and $1,270. Short-term support and critical pivot point for the trend is the lows as noted […]
SoftBank Corp. founder Masayoshi Son’s U.S. ambitions are taking a toll at home. SoftBank sagged down today for a 10th consecutive day in Tokyo exchange, dragged down by concerns about Sprint Corp. the U.S. carrier it purchased last July. Undaunted, Son is considering doubling down in the region with a transaction for T-Mobile US Inc.– […]
International Business Machines Corp. has cut down its tax rate to a two-decade low with aid from a tax method that sends profits through a Dutch subsidiary. The approach, which involves routing almost all sales in Europe, the Middle East, Africa, Asia and some of the Americas through the Netherlands unit, helped IBM as it […]
Inflation-adjusted interest rates are still too low in developing nations for Goldman Sachs Group Inc. and Citigroup Inc. to foresee an end to the weakest emerging-market currency sell off in five years. One-year borrowing costs in Turkey are 3.6 percent, lower than half of the average in the three years before the 2008 global financial […]
February 4, 2014 – Forex News Hot asset for today: GBP/USD The EUR/USD rebounded on Monday from a 10 week low as the U.S. ISM Manufacturing PMI plummeted. The actual figure was 51.3 which would be the lowest result since June 2013. This number is very disappointing but could be caused by the bad weather […]
February 4, 2014 – Daily Market News Today’s Hot Asset: USD The US ISM Manufacturing PMI was released yesterday and surprised the market with its low figure. Instead of the expected 56.4 it was 51.3 which is the slowest rate in 8 months. This brought speculation that the economy is slowing and that Friday’s NFP […]
February 4th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. Big correction for Asian markets overnight; Hang Seng, Nikkei 225 all in correction mode. Japan’s Topix fell 4.8% and down by 12.5% year-to-date after registering stellar gains for 2013. Asian markets followed the declines on Wall Street Monday after the US ISM manufacturing report […]
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Forget about the battle for TV ratings, the real contest for video content supremacy is taking place online! Over the past several years, Netflix has established itself as the sultan of streaming, but now Amazon is emerging as a true contender for the content crown. Who will emerge victorious? Check out the infographic below to […]
February 4, 2014 – Forex News Hot asset for today: GBP/USD The EUR/USD rebounded on Monday from the 10 weeks lows as the U.S. ISM Manufacturing PMI plumed. The actual figure showed 51.3 which would be the lowest result since June 2013. This number is very disappointing but might be caused by bad weather and […]
General overview for 04/02/2014 09:30 CET Five impulsive waves from the level of 1.1222 has been done and currently the price is in the corrective cycle wave (ii) blue. The shape of the correction starts to look like a zigzag pattern, therefore one more wave to the upside is needed to complete the cycle. The […]
Bullish RBA lifts Aussie Morning Report: 08.45 London • This morning, markets are holding steady after heavy losses last night. Those losses, inspired by by some lack luster earnings could see the S&P 500 fall for two months in a row for the first time since May 2012. • It’s not all bad news […]
General overview for 04/02/2014 08:30 CET For last two weeks we have been tracking this downside sloping triple zigzag correction in wave 4 purple. Currently, the market is very close to invalidate the main purple count as the invalidation line is at the level of 135.44. The alternate count has been labeled in the H4 […]
GBPJPY on the daily chart is currently bearish and has retraced 61.8% of the up-leg from the November 5 low (156.61) to the January 2 high (174.74). The decline accelerated after the pair broke below an important support level at 167.80 (which is the 38.2% Fibonacci retracement level). Support is currently being provided by the […]
Today’s Support and Resistance levels: R3: 1.6723 R2: 1.6702 R1: 1.6683 Current Spot: 1.6638 S1: 1.6600 S2: 1.6577 S3: 1.6512 Technical summary: After reviewing our count, we have moved wave iii higher to 1.6787. The reason is that the sub-wave four of iii was a running triangle and then we saw the wave five of […]
