Wheat futures (September delivery) have been experiencing another round of weakness after forming a double top pattern in July. In today’s session, the price has failed to capitalize on news that Russia attacked Ukraine’s main inland port across the Danube River, raising significant concerns over the supply outlook. The momentum indicators are also endorsing the bearish […]
The July central banks meetings lived up to expectations as both the Fed and the ECB announced their respective rate hikes but essentially removed their forward guidance. Data dependency is the new name of the game as the market is now counting down to the mid-September meetings. Which are the next key dates until the […]
The German 40 index (cash) unlocked a new record high of 16,530 last Friday before charting a bearish doji candlestick. Monday’s downfall confirmed the negative pattern, with the price further retreating to a three-week low of 15,949 earlier today. The technical oscillators took a negative turn too, flagging more weakness ahead. If the price closes below its […]
Amazon’s stock has been in a steady uptrend since the beginning of the year, attempting to erase part of its 2022 decline. In the short term, the stock experienced a pullback after posting a fresh 2023 peak of 136.30, but quickly found its footing around the 50-day simple moving average (SMA). The momentum indicators are currently […]
Do you want to walk the path to financial success? If yes, then you’d better join our upcoming seminars in South Africa! This September, we will host a series of exclusive seminars titled Unleash Your Financial Potential: Mastering Forex & Copy Trading in Durban (09 September), Johannesburg (13 September), and Cape Town (16 September), presented […]
Apple’s stock has been in a steep uptrend since the beginning of the year, posting consecutive multi-year peaks. However, in the past two weeks, the price appears to be consolidating near its recent record high of 198.08 ahead of the Q2 earnings call on Thursday. The momentum indicators currently suggest that near-term risks are tilted […]
EURJPY is flirting with its 15-year high of 157.94 again that it registered in July, thanks to strong buying interest over the past three days. The pair bounced up with strong momentum following the nosedive to a six-week low of 151.39 last Friday, forming a bullish channel in the medium-term picture. More fuel is needed to continue the rally above 158.00, but the […]
Dollar gains as ISM mfg. new orders beat estimates Pound traders await Thursday’s BoE decision Aussie the main loser after RBA stands pat S&P 500 and Nasdaq close in the red, oil hits new three-month high Improving mfg. orders outlook helps the dollar The US dollar traded higher against all the other major currencies on […]
USDJPY is edging lower today following the good move recorded since the latest BoJ meeting. The pair remains near the midpoint of the upward trending channel that has been in place since the March 2023 banking sector-induced pullback and a tad below the 2023 high, thus keeping the recent rhetoric about a likely intervention alive. […]
XM is proud of donating to the Care to Rise program. The Care to Rise program is a joint initiative of the VinaCapital Foundation and the HCMC Youth Union. It provides medical care and support to orphans and disadvantaged children in Vietnam who have been affected by the COVID-19 pandemic. Our donation will be used […]
Apple will unveil its second quarter financial results on Thursday, August 3, after Wall Street’s closing bell. Earnings and revenue figures are expected to have contracted on an annual basis as consumer demand seems to be fading across the globe. However, Apple’s stock has been in a relentless rally since the beginning of the year, […]
USDCAD started the month on the right foot, speeding towards the 50-day simple moving average (SMA) and closer to the 1.3300 round-level during the early US trading hours. It’s the second best performer among major dollar pairs, gaining 0.82% on the day. The positive trajectory in the momentum indicators is an encouraging sign that buying […]
CHFJPY has been steadily marching higher this year, reaching its highest levels in at least four decades, since official records began. The pair is currently challenging those record highs near the 164.00 area, a violation of which would propel the market into uncharted waters. On the weekly chart, momentum oscillators signal overbought conditions. The weekly […]
Employment numbers for July are due out of Canada on Friday (12:30 GMT), which will be the last before the Bank of Canada’s next policy meeting in September. Jobs growth has moderated somewhat in recent months, which might explain why the unemployment rate has started to edge up. The picture in July is unlikely to […]
The US 100 stock index (cash) rotated higher around its 20-day simple moving average (SMA) at 15,450 last Friday and above June’s high of 15,280, retaining confidence in its 2023 uptrend. Although the bearish doji at the top of the uptrend remains worrisome, the latest upturn keeps the focus on July’s 1½-year high of 15,896. The […]
AUDUSD tumbled on Tuesday after the RBA decided to refrain from lifting interest rates, with the pair falling all the way down to the low of July 28 at around 0.6620. Overall, the price structure remains of lower highs and lower lows below the downtrend line drawn from the peak of July 14, which keeps […]
We’re thrilled to announce that XM has been awarded platinum accreditation for the Investors in People Standard (IIP), the international standard for people management. We have also been shortlisted for Top 20 Overseas Employer of the Year Platinum organisations in the Investors in People Awards 2023. The IIP accreditation benchmarks against the best in the […]
We’ve done it again! XM has been named a Great Place to Work® by the international organisation that sets the benchmark for excellent workplaces. This year we’ve also came in 1st place for the ‘Best Workplaces’ listing and were included as finalists for the ‘European Best Workplaces’ category, which we ranked in 2nd last year […]
The latest edition of nonfarm payrolls will be released at 12:30 GMT Friday. Early indicators point to another solid employment report, which would reaffirm that the US economy remains far stronger than its competitors. This strength has not been reflected in the dollar lately, as other central banks raced ahead of the Fed in raising […]
This July, we hosted two seminars on How to Start Trading Forex in Tangier and Casablanca, in Morocco. Over the course of the seminar, participants learned about the forex market from the ground up. Two trading experts from the elite Tradepedia academy introduced them to basic concepts and demonstrated how to manage their trades on […]
Yen extends losses following BoJ’s surprise bond market intervention Aussie plunges after RBA holds rates, weak Chinese PMI weighs too Dollar stays supported, euro fails to capitalize on strong data No love for the yen from the BoJ The Japanese yen found itself in the familiar position of eyeing fresh lows against its major peers […]
Gold has been forming lower lows and lower highs over the past two weeks, with the 50-day simple moving average (SMA) preventing major declines once again along with the 20-day SMA near 1,945 last Friday. The price maintained its position above the broken bearish channel, which is a good sign for July’s upleg continuation. The progressing […]
EURCHF is trading sideways today, a tad above the new 2023 low of 0.9521 recorded on July 27. This was the lowest print of the pair since September 29, 2022 as the bears finally staged their much-anticipated breakout from the 10-month-old rectangle. However, the good news for the bears appears to stop here as the […]
GBPUSD has been in a prolonged uptrend since October 2022, storming to a fresh 15-month high of 1.3141 on July 14. Since then, the pair has been experiencing a mild downside correction, which seems to be faltering as the price has been directionless in the past few daily sessions. However, the momentum indicators suggest that bearish forces […]
Central bank meetings will stay in the limelight for another week, with the Reserve Bank of Australia (RBA) and the Bank of England (BoE) expected to follow their European and US pears in raising interest rates. On the data front, the US employment report might cause fresh swings in rate expectations as the Fed indicated a more data-dependent approach. […]
AUDUSD has flipped Friday’s loss and is currently aiming to return above its 50-day simple moving average (SMA) and the 0.6700 mark before the Reserve Bank of Australia’s rate announcement hits markets on Tuesday at 04:30 GMT. Despite the steep bounce in the price, uncertainty remains according to the RSI and the stochastic oscillator. The […]
Central bank meetings will stay in the limelight for another week, with the Reserve Bank of Australia (RBA) and the Bank of England (BoE) expected to follow their European and US pears in raising interest rates. On the data front, the US employment report might cause fresh swings in rate expectations as the Fed indicated […]
With inflation in the UK slowing by more than expected in June and the July PMIs revealing that UK business activity continues to weaken, investors have become increasingly convinced that the Bank of England may need to slow down the pace of its future hikes and return to 25bps increments. The Bank meets on Thursday […]
EURUSD is edging higher today as it is trying to find its footing following an eventful week. The pair is hovering a tad below the busy 1.1032-1.1095 area and remains comfortably below the September 28, 2022 upward sloping trendline. The convergence of the 50- and 100-day simple moving averages (SMAs) persists and thus keeps the […]
On September 9, we will host a free, exclusive seminar in Quito, and all our clients, you included, are invited! Under the guidance of skilled expert Facundo Molina with 20+ years of experience in the financial markets, you will learn how to use the right tools based on your trading preferences and build a solid […]
