AUDCAD is recording an aggressive bullish run and surged almost 1% over the previous two trading days. The price completed the second green day and during European session printed a 2-month high near the 0.9900 psychological level. Prices broke above the 0.9880 level and are trading well above their simple moving averages (14 and 20). The bullish […]
The US dollar index continues to hold in a bullish correction phase after the sharp roller coaster to the downside. The rebound on the 91.44 support level drove the price to the upside hitting a 7-day high of 92.34. In the 4-hour chart, the index is currently trading slightly below the 23.6% Fibonacci retracement level of the down-leg from […]
NZDUSD has held its uptrend since December 2017 when it broke above the key 0.6900 level to rise all the way up to the 0.7200 handle yesterday. The market has paused around this level after touching a 3-month high of 0.7230. Looking at the 4-hour chart, the moving averages are bullishly aligned (50 SMA and […]
Here are the latest developments in global markets: FOREX: The US dollar index traded slightly higher during the Asian trading session Thursday, after experiencing heightened volatility on Wednesday. The index initially took a dive on reports that China is considering to slow or cut its US bond purchases, but managed to recover its losses to trade […]
We would like to inform our clients that due to Martin Luther King Jr. Day and Australia Day, the trading hours of various instruments will be affected on 15 and 26 January 2018. The normal trading hours will be resumed from then onwards. Please review the tables below to see which instruments will be affected […]
USDJPY has turned more bearish in the near term after the break below the key 112 level and 200-day moving average yesterday to reach its lowest level in six weeks. Momentum is weak and the daily RSI is indicating a bearish bias after dipping below 50. Risk remains skewed to the downside until prices make a […]
The Australian dollar had a strong upside rally in the previous four weeks, driving the aussie/dollar pair to a new three-month high. A question is if the prices will continue to rise after the release of retail sales overnight and more importantly during the year as the Reserve Bank of Australia (RBA) remains concerned about […]
Chinese trade data for the month of December are scheduled for release on Friday at 0445 GMT. Analysts forecast exports and imports to grow solidly, though at a softer pace relative to November, a month during which both figures stormed past expectations to expand by double digits on a yearly basis. Exports and imports are […]
The Nikkei 225 was on a tear in 2017, as Japan’s economic recovery and the Bank of Japan’s (BoJ) massive stimulus program helped the popular index to reach multi-decade highs, finishing the year 21.5% higher. A continuation of this environment could support the Nikkei even further in 2018, though the pace of the index’s appreciation […]
EURJPY extended its bearish phase by dropping another leg lower into the 133 handle. The downtrend since January 5 from the high of 136.63 has not shown signs of reversing. RSI on the 4-hour chart is well into bearish territory although close to oversold levels. This suggests some easing in downside pressure for now. Short-term […]
Here are the latest developments in global markets: FOREX: The dollar took a knock after Chinese officials recommended to slow down or cut purchases of US Treasuries according to Bloomberg. The dollar stretched its losses toward a two-week low of 111.29 (-1.08%) versus the yen and sank marginally below the 92-key level regarding its index against six major currencies […]
The Dow Jones industrial average index had one of its best performances on record in 2017, climbing an astounding 25%. The strong US economic outlook and expectations for a major tax overhaul were probably the main drivers behind the index’s surge. Looking at 2018, the Dow’s outlook remains bullish amid potential for major stock-buybacks by […]
The UK 100 index hit a fresh all-time high of 7,756.10 during today’s trading, with the index posting a notable rally since the beginning of December. The Tenkan- and Kijun-sen lines are positively aligned, pointing to a bullish picture in the short-term. The RSI is supporting this view: the indicator remains on the rise, though […]
Silver has come under pressure over the last couple of days, in the short to medium-term timeframe, following the sharp bullish rally in the previous days where the price touched a two-week high of 17.25. The price plummeted more than 1.5% in the last two bearish daily sessions and during European trading today, it hit the 50.0% Fibonacci retracement […]
Here are the latest developments in global markets: FOREX: The US dollar index was marginally lower on Wednesday, after previously trading higher for three days in a row. STOCKS: Asian markets were mixed, with Japan’s Nikkei 225 declining by more than 0.2%, pulling back from the 26-year high it reached earlier in the week, though still […]
On 24 February 2018, XM returns to Manila, Philippines, with a free seminar offered to online investors on CFD (Contracts for Difference) trading techniques. Though not for the first time in the Philippines, the XM team accompanying event presenter Jonathan Lou Reyes are very much looking forward to welcoming existing and prospective clients to the […]
AUDUSD is neutral in the short term after a strong rally pushed the market to overbought conditions and consequently upside momentum faded. AUDUSD remains under corrective pressure after failing to breach the key 0.7900 level but came close to it last week. The second bullish phase that started after the break above the 200-day moving […]
During the period 2012-2016 everyone was talking about the deflationary spiral in China, with those who are heavily dependent on Chinese imports blaming the world’s largest exporter for stealing inflationary pressures from them and therefore interrupting their monetary policy. But today, someone could say that China could be a gift for those who hope for […]
JPMorgan Chase and rival Wells Fargo will be reporting Q4 2017 results before Wall Street’s opening bell on Friday. At the moment, the consensus recommendation for both banks is “hold”, with the average recommendation for the Banks peer group being a “buy”. Expectations are for JPMorgan’s quarterly earnings to stand at $1.68 per share according […]
NZDJPY climbed to a new three-month high of 81.29 during the Asian session and then lost some ground. The price has been moving within an upward sloping channel since December 2017 following the rebound on the 76.90 support level. From the technical point of view, in the short-term timeframe, the price found support around the mid-level of the Bollinger […]
WTI oil futures extended the rally after a brief pause and hit 62.53 earlier today, its highest level since May 2015. Prices have been rising steadily since late December from the mid-58 handle and successfully breached the key 60 mark for the first time in 2 ½ years. Upside momentum has faded and the market […]
Here are the latest developments in global markets: FOREX: The dollar pared some losses versus the yen, crawling up to 112.80 (-0.25%) after a trim of bond buying from the BOJ send the currency to a five-day low earlier in the day. Euro/dollar moved further down to 1.1924 (-0.33%) probably due to investors engaging in profit-taking, […]
A weak pound and stronger global growth, particularly in the Eurozone, is driving up demand for British exports, which are boosting the UK’s manufacturing sector even as domestic demand falters amid the Brexit uncertainty. Industrial and manufacturing figures out on Wednesday are expected to show output picked up in November after stalling in October. Industrial […]
EURGBP appears poised for further losses and slipped beneath the 0.8850 barrier, while euro was the worst performing major currency during yesterday’s trading session. The single currency had been under pressure versus sterling during the US trading session on Tuesday and ended the day near its low. The price recorded the second straight bearish day and plummeted almost 1% following the bounce off […]
Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – traded slightly lower on Tuesday, after posting some gains on Monday. STOCKS: Asian markets extended their recent winning streak, with Japan’s Nikkei 225 and Topix indices trading higher by 0.6% […]
GBPUSD is neutral in the short term and is consolidating gains made after breaking above the key 1.3500 level last week. The pair maintains an overall bullish undertone. The short-term technicals are neutral to bullish. The market is well-capped below the 1.3600 level which is now a strong resistance level. There is scope for a […]
The dollar is in recovery mode on Monday after falling on Friday, recording its lowest since January 2 versus a basket of currencies and coming close to hitting a fresh 3½-month low. Dollar selling took place in the aftermath of December’s jobs report which showed the US economy adding notably fewer positions than analysts had […]
AUDUSD edged sharply higher in the near-term timeframe following the rebound on the 0.7500 significant support level that started on December 12, 2017. The price hit the ascending trend line on the medium-term chart, which has been holding since January 2016 before the upside movement. However, given that the latest run appears overstretched and having a look at the […]
Here are the latest developments in global markets: FOREX: Encouraging data out of the Eurozone including on retail sales and economic sentiment did little for the euro which pared a small part of earlier losses in the wake of the figures. Euro/dollar continued to trade weaker, slightly below the 1.20 handle (-0.32%) as traders engaged in profit-taking. This compares […]
USDCAD plummeted almost 1% in the previous two trading days and this weakness has taken the price to a fresh three-month low of 1.2354. The pair has seen a strong sell-off since the aggressive bearish run started on December 19. In the daily timeframe, significant obstacles have been broken, such as the consolidation area of 1.2590 – 1.2915, the 38.2% and 50.0% Fibonacci […]
