AUDUSD rotates higher but short-term bias not bullish yet Current resistance at 0.6360; bulls want a rally above 0.6430 China’s Q3 GDP growth figures could move aussie pairs AUDUSD saw fresh buying interest last week near the falling trendline from March 2023. This has increased optimism for the pair to rise towards the resistance […]
Netflix reports financial results on Wednesday after the closing bell Revenue and earnings set to grow despite stock slide in Q3 Valuation at considerably high levels Poor third quarter jeopardises a solid year Undoubtedly, Netflix has been the best performer in the streaming sector in 2023 as its competitors have been struggling to achieve profitability. The […]
Labour market statistics coming up on Thursday (00:30 GMT) RBA minutes firmly opened the door for a November rate hike Aussie bulls are desperately looking for a push higher against the US dollar RBA paused but minutes tell a different story Conforming with the key central banks globally, the Reserve Bank of Australia kept its […]
Risk aversion eases as diplomatic efforts to end Israel-Gaza war ramped up Gold off highs, while earnings optimism additionally boosts Wall Street Dollar steady as yields resume climb ahead of US retail sales, Fed speakers Mood improves on diplomacy hopes Risk sentiment was notably more buoyant on Tuesday as fears about the unfolding situation in […]
GBPJPY has been steadily declining since its peak at 186.45, hitting a low of 178.00 earlier this month before rising back above 180.00. The resistance trendline from August’s peak came to cancel last week’s bullish action at 183.80, with the technical indicators currently raising doubts as to whether the pair will find enough buyers to rotate higher again. The […]
GBPUSD stuck in a steep decline since mid-July Bounces off seven-month low but fails to post a moderate recovery Completion of death cross could induce downside pressures GBPUSD has been forming a structure of lower highs and lower lows since its 16-month peak of 1.3141. Meanwhile, in the near term, both the RSI and the […]
JP225 cash index hovers below the 50-day SMA Geopolitical developments continue to affect sentiment Momentum indicators on the fence at this juncture The JP225 cash index is trading higher today with the bulls interested in canceling out last Friday’s sizable red candle. It has been a strong short-term upleg from the October 4 low at […]
GBPUSD bears take a breather near a key support line Short-term bias skewed to the downside GBPUSD started the week with small gains, which balanced out Friday’s decline but did not significantly improve sentiment as major resistance levels remain overhead. The technical signals are currently mirroring a cautious mood in the market, with the RSI moving sideways below […]
Gold hits important resistance as geopolitics remain on the forefront GBP/USD has weak technical outlook ahead of key data releases AUD/USD supported near October low; technical picture still fragile Israel-Hamas war –> Gold In response to Israel’s warning, investors sought safety in gold, driving the precious metal up by 3.0% to $1,932 and near its […]
· Gold hits important resistance as geopolitics remain on the forefront · GBP/USD has weak technical outlook ahead of key data releases · AUD/USD supported near October low; technical picture still fragile 0:00 Intro 0:49 Gold 3:43 GBP/USD 7:05 AUD/USD For more information on the topics discussed in this video, including detailed charts and tables, […]
Retail sales in America likely grew at a more moderate pace in September Will the data support a Fed pause in November? Or will it fuel the rally in yields and the dollar when it’s out on Tuesday (12:30 GMT) Is consumer spending starting to cool? The US economy has been chugging along quite nicely […]
Gold surges as Israel carries ground operations inside Gaza Geopolitics and Harker weigh on Fed rate hike expectations Oil rallies as fears of supply disruptions due to the war heighten S&P 500 and Nasdaq slip as geopolitics offset strong earnings results Gold shines as Israel-Hamas tensions flare up Gold surged more than 3% on Friday […]
EURUSD stuck in a clear downward path, seems unable to recover Latest rebound encounters strong resistance at key trendline Momentum indicators endorse a resumption of the downtrend EURUSD has been in a steady retreat after peaking at the 18-month high of 1.1275, generating a series of lower highs and lower lows. Although the pair managed to find its […]
Key data releases coming up as the market digests geopolitical developments All eyes on CPI release (Wednesday 06:00 GMT) as the BoE is uneasy with strong prints Calendar also includes labour market information, average earnings data and retail sales The Bank of England does not really favour further rate hikes At the September meeting the […]
USDCHF attempted a recovery after bouncing off 200-period SMA But rebound seems to be fading Momentum indicators point to more losses USDCHF had been in a steady decline since its October high of 0.9243, generating a clear pattern of lower highs and lower lows. Even though the pair managed to find its feet at the 200-period […]
Bitcoin clocks negative week as stock markets rebound FTX trial and Middle East conflict undermine the sector Bitcoin price stuck between 50- and 200-day SMAs Cryptos trade in their own world Bitcoin and most major altcoins are on track to post a red weekly candlestick, exhibiting significant correlation breaks with other traditional assets. Firstly, we […]
The Khon Kaen and Hat Yai seminars marked the end of our series on gold trading in Thailand which has left a lasting impact on traders. From August to October, XM traders had an opportunity to gain invaluable insights into the correlation between DXY, US10Y, and gold, hone their fundamental analysis skills, and discover psychology […]
After US CPIs, US retail sales may also impact Fed hike expectations. Will the UK inflation numbers increase the chances for another BoE hike? Aussie and Kiwi traders await Australia jobs report and New Zealand’s CPI. China’s GDP could also impact those commodity-linked currencies. 0:00 Intro 0:23 US data and dollar 2:45 UK data and BoE […]
Stronger-than-expected US CPI data revives rate hike bets Dollar re-energised, heads for weekly gains as yields jumps Stocks come under pressure, but selloff limited ahead of Q3 earnings Dovish Fed bets dented by CPI surprise Markets whipsawed on Thursday after the US consumer price index rose more than expected in September, dashing hopes that the […]
After US CPIs, US retail sales may also impact Fed hike expectations Will the UK inflation numbers increase the chances for another BoE hike? Aussie and Kiwi traders await Australia jobs report and New Zealand’s CPI China’s GDP could also impact those commodity-linked currencies Will retail sales allow the dollar to extend its recovery? The […]
USDCAD treats its wounds with solid bounce Caution needed as familiar resistance nearby USDCAD gathered significant momentum on Thursday, flipping weekly losses into a 0.20% gain after a slightly stronger US CPI report. The pair kept its footing above its simple moving averages (SMAs), but the descending trendline from the 2020 top resumed its resistance […]
GBPUSD switches into bearish corrective mode Price fluctuates between key support and resistance zone A break below 1.2235 may prompt more selling GBPUSD returned to losses below the 1.2300 level in the wake of a slightly stronger US CPI inflation report, shifting the spotlight back to the 20-day simple moving average (SMA) at 1.2235. […]
Bitcoin pulls back after rejection at 200-day SMA Decline ceases at the 50-day SMA Momentum indicators point to more losses BTCUSD (Bitcoin) had been forming a structure of higher highs and higher lows since its bounce off the September bottom of 24,915. However, the price has been on the retreat in the last few daily sessions […]
US banks kick of earnings parade on Friday before market opens Poised for negative results as high interest rates become a headwind Historical low valuations cap downside Banks underperform in 2023 This year started with the best possible omens for banks as they were expected to continue capitalising on higher net interest margins, which are […]
Mixed PPI report allows investors to believe the Fed is done But US CPI data has the potential to change their mind Wall Street gains on ‘no more hikes’ bets Oil falls as Saudi Arabia pledges to stabilize the market Dollar trades mixed on mixed PPI data The US dollar traded mixed on Wednesday, staying […]
USDJPY keeps its footing on 20-day SMA at 148.75 Broad uptrend intact, but technical signals warrant some caution USDJPY remains range-bound around its 20-day simple moving average (SMA) for the sixth consecutive trading day as investors eagerly wait for September’s US CPI inflation report due at 12:30 GMT. Despite the resilience in the price, the RSI and […]
US 100 cash index continues its strong short-term upleg Strong reaction higher amidst challenging market environment Momentum indicators mostly point to a continuation of the current move The US 100 cash index is in the green again today, recording its fifth consecutive positive session. It has been aggressively moving higher from September lows with the US 100 […]
WTI futures fail to breach the ascending trendline Oil drops below 50-day SMA towards October low Momentum indicators tilt to the bearish side WTI oil futures (November delivery) had been in a steady advance since July, climbing to a 13-month peak of 95.02 on September 28 before experiencing a correction. Even though oil managed to halt the retreat and […]
USDX corrects to the downside after getting overbought Set to test 38.2%% Fibonacci retracement of the 114.71-99.19 downleg Will the index continue to respect Fibonacci levels? The US dollar index (December Futures) has been undergoing a correction since its rejection at the 50.0% Fibo of 106.95, which was also a 10-month high. However, it’s too early to call for […]
Nvidia shares climb in recent days, recapturing 50-day average However, bigger picture appears neutral as market lacks direction If stock retreats, the massive earnings gap below is a major risk Nvidia shares have staged a sensational rally this year, hitting a new record high in late August. The market then drifted lower, but the […]
