USDCHF went downhill to print an eight-and-a-half year low of 0.8810 slightly below May’s trough on Tuesday after getting rejected near its 20-day simple moving average (SMA). Another leg down is possible as the RSI and the stochastic oscillator have yet to bottom out in the oversold area. Yet, with the price set to close below […]
It was a night of fun and fundraising, as XM employees showcased their musical talents to support the work of El Sistema Greece and Sistema Cyprus. Students from Sistema performed at the open mics too, proving how powerful music is in bringing people together. Sistema organisations provide free music instruments and music education to children […]
We’re honoured to renew our gold sponsorship to Pournara First Reception Centre for the eighth consecutive year. The gold sponsorship includes a donation of shoes for unaccompanied children, women, and vulnerable groups to help them get back on their feet and rebuild their lives. Pournara First Reception Centre is the largest refugee camp in Cyprus. […]
The UK 100 cash index is trading sideways today following an aggressive sell-off since the July 3 local peak. The index has actually been experiencing a series of lower highs and lower lows since April 21, 2023, religiously obeying a downward sloping trendline. It is now hovering a tad above the March 20, 2023 low, […]
Dollar gets crushed as traders price in a ‘cold’ CPI tomorrow Sterling and yen benefit the most, Cable hits 15-month highs Gold attempts to exit range to the upside, stocks bounce back Dollar derailed by falling yields It’s been a dreadful month for the US dollar so far, even though incoming data releases continue to […]
EURJPY has been in a strong uptrend since the beginning of the year, posting a fresh 15-year high of 157.99 in late June. However, this rally appears to be fizzling out, with the pair experiencing a downside correction in the short term. The momentum indicators currently suggest that bearish forces are strengthening but have not taken […]
GBPUSD opened the week with mild gains, expanding its NFP rally above June’s peak and to a fresh 15-month high of 1.2912 early on Tuesday. There is room for further development, as the technical indicators maintain a clear positive trajectory. Yet, with the RSI and the stochastic oscillator prodding their overbought levels, the bullish wave […]
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The US 100 index is trading sideways today as a double top pattern appears to be forming. This bearish structure will become valid if the 14,687 neckline is broken, with an assumed target at the 14,000 area. If this move materializes, it will be the first decent correction since the March 2023 banking sector-induced sell-off. […]
The US 500 stock index (cash) entered a new bearish phase after pausing its uptrend at a new 15-month high of 4,458 and slightly below the strong resistance line from December. The falling RSI and the MACD have confirmed a lower high, showing a bearish divergence against the market trend. The stochastic oscillator is also negatively […]
GBPUSD is edging lower today but remains a tad above the 1.2750 area. The bulls have finally managed to stage a proper breakout, but a double top pattern appears to be forming. This bearish structure could quickly reverse the current bullish sentiment but a move below its 1.2590 neckline is needed first. The bulls continue […]
Following the larger-than-expected slowdown in Canada’s inflation data for May, inventors were confused as to whether a hike is warranted at the Bank of Canada’s upcoming meeting, scheduled for Wednesday (14:00 GMT). That said, Friday’s strong jobs report tilted the scale towards the rate-hike scenario. With that in mind, how will the outcome affect the […]
Wednesday is when the RBNZ and BoC announce their interest rate decisions, so the New Zealand and Canadian currencies will attract special attention. US inflation data could make the FX market more volatile on the same day, shedding some extra light on whether the Fed will proceed with another rate hike this month. US CPI […]
The second quarter earnings season will unofficially begin on Friday, with major US banks, as always, setting the tone. Despite stock markets’ stellar performance so far in the year, earnings are set to contract as high interest rates continue to put the brakes on the global economy. With valuations still at expensive levels and liquidity […]
Wednesday is when the RBNZ and BoC announce their interest rate decisions, so the New Zealand and Canadian currencies will attract special attention. US inflation data could make the FX market more volatile on the same day, shedding some extra light on whether the Fed will proceed with another rate hike this month. 0:00 Intro […]
Despite its tendency to produce surprises at its rate-setting meetings, it feels like the Reserve Bank of New Zealand has completed its hiking cycle. With the market endorsing a pause at this week’s gathering, the kiwi has to look elsewhere for a potential boost against the US dollar. Events since the last RBNZ meeting A […]
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The US CPI report for June will be keenly awaited on Wednesday (12:30 GMT) as investors remain undecided about the timing of the Fed’s next rate hike. The producer price index will follow on Thursday. Inflation according to the consumer price index is on its way down and that trend is expected to be maintained […]
Dollar gets knocked down by miss in US employment growth Gold benefits, but can it sustain a rally with real yields rising? Stock markets kick off new week with losses, Fed speakers eyed Bruised dollar awaits inflation test The world’s reserve currency absorbed some damage last week, in the aftermath of the latest US employment […]
EURCHF is edging higher today, battling again with the lower boundary of the rectangle that has been defining the price action since October 13, 2022. The bears remain firmly in control, but they probably have to deliver a sizeable sell-off soon before the market starts to seriously question their determination. Supporting the bears’ intentions, the […]
Gold had been moving sideways for more than a month, but the bears managed to push the price below the lower boundary of that range. Even though bullion posted a mild recovery after bouncing off the three-month bottom of 1,893, its attempts to re-enter the neutral pattern have been repeatedly repelled around the 1,925 mark. The […]
EURUSD spiked as high as 1.0930 in the wake of softer-than-expected nonfarm payrolls data, surpassing its 20- and 50-period exponential moving averages (EMAs) in the four-hour chart, as well as the resistance trendline that has been navigating the price southwards for the past two weeks. The RSI rose decisively above its 50 neutral mark, adding […]
Following the 50bps hike by the Bank of England in June, many market participants are now convinced that another increase of that size will be delivered in August, while they are anticipating several more hikes before the Bank calls the end of this tightening crusade. So, as they try to better assess how the Bank […]
Another action-packed week lies ahead, before trading conditions begin to wind down for the summer. The spotlight will fall on the latest US inflation report, which could cement expectations that the Fed will resume its rate-hike cycle this month. Central bank meetings in New Zealand and Canada will also be closely watched, especially the Bank […]
After a period of choppy trading in which Bitcoin remained flat comfortably above the $30,000 psychological mark, Thursday’s events brought back some volatility. On that day, the king of cryptos stormed to a fresh 13-month high of $31,500 before retreating lower on the back of a significantly stronger-than-expected ADP employment report. As positivity driven by […]
Another exciting week lies ahead for FX markets, before trading conditions start to wind down for the summer. The spotlight will fall on the latest US inflation report, which could help the dollar break out of its recent stalemate. Central bank meetings in New Zealand and Canada will also be closely watched, especially the Bank […]
Markets brace for another solid jobs report after strong ADP and ISM services PMI But dollar struggles to shine as rally in bond yields spreads globally Yen extends gains as stocks slip, gold sags but oil rebounds further Steeper Fed rate path eyed after upbeat data Risk appetite is in short supply on Friday ahead […]
GBPJPY formed a steeper bullish tube in mid-June, which is now at risk of a breakdown as the bulls seem to have run out of fuel around a seven-and-a-half year high of almost 184.00. The tiny candlesticks at the top of the uptrend are witnessing fizzling buying interest and should the pair close clearly below the […]
USDCAD had been in a steady downtrend since late May, generating a clear structure of lower lows. However, the pair found its feet at the nine-month bottom of 1.3115 and retraced back higher, with the price challenging the ascending trendline that connects the pair’s higher lows from November 2022 since early May. The momentum indicators […]
CHFJPY is experiencing its fourth consecutive red-candle session after recording an all-time high of 161.64. It has been an almost exponential move from the January 13, 2023 low of 137.42 and like other JPY pairs, CHFJPY has not experienced a proper correction since the mid-March sell-off. The momentum indicators are gradually opening the door to […]
