Here are the latest developments in global markets: FOREX: A strong rally in metal and oil prices on Tuesday continued to support the loonie, the aussie and the kiwi against the dollar during early European trading hours on Wednesday. The aussie and the kiwi hit fresh two-month highs at $0.7768 (+0.53%) and $0.7073 (0.50%) respectively, while dollar/loonie extended its […]
Brent crude oil futures for February printed six positive daily closes and added more than 7% to its performance extending their gains to a 2-½-year high of 67.06. The upward tendency started after the retest of the ascending trend line, which has been holding since October. The next level to have in mind is the 161.8% Fibonacci extension […]
Here are the latest developments in global markets: FOREX: The dollar index continued retreating, recording a three-week low. Meanwhile, commodity currencies, including the loonie, aussie and the kiwi, were posting multi-week highs versus the greenback. STOCKS: The Nikkei 225 closed 0.1% higher. The Hang Seng was down by 0.1%, while the Shanghai Composite lost 0.9%. […]
USDJPY retains a short-term neutral stance on the daily chart, confirmed by the flat technical indicators. The RSI is neutral, while the 50 and 200-day moving averages are moving sideways. In the bigger picture, the pair has been trading in a range between 108 and 114 since March and is currently located in the upper […]
The next seven days look set to be extremely quiet due to the shortened Christmas holiday week, with many markets closed on Monday and Tuesday. Japan and the United States will be the only major countries releasing data, though Australian private lending figures on Friday could also attract some attention. Volumes are expected to be […]
Japan will see the release of November inflation figures on Monday at 2330 GMT. Core inflation, the measure targeted by the Bank of Japan, is expected to remain steady at 0.8% on an annual basis, well below the central bank’s target of 2.0%. Despite core CPI undershooting the BoJ’s target and being one of the […]
Silver has not had a clear tendency since June 2016 as the price has been trading in a broad descending triangle with the downtrend line starting from the $21.10 resistance level and forming a significant support barrier near $15.60. In the short term, prices have moved to the lower level of the triangle, though they have firmed up this week. The price has […]
EURGBP has been creating a bearish sloping channel since October after the peak at the 0.9030 resistance level. However, the pair is on track to post its second bullish week after the rebound from the five-month low at 0.8690. Looking at the 4-hour chart, in the short-term timeframe, the price is holding below the 0.8890 strong obstacle, while it is above the […]
Here are the latest developments in global markets: FOREX: The euro remained around Friday’s lows as investors were worried that tensions between Madrid and Catalonia would escalate after regional elections on Thursday gave a narrow majority to secessionists. The euro stood against the dollar at 1.1851 (-0.19%) while versus the pound it slipped to 0.8856 (-0.05%) […]
GBPJPY maintains a neutral bias in the short and medium term, supported at the key 150 level. The cross maintains a bullish market structure in the short term, while trading above the 50 and 200- period moving averages on the 4-hour chart. GBPJPY made a strong recovery after a brief dip below 150 in mid-December […]
The yen underperformed most of its major peers in 2017 despite the improving economic backdrop in Japan, as the Bank of Japan’s ultra-loose policy framework continued to undermine the currency. Will the yen enjoy better times ahead? That is likely to depend on whether the Bank will scale back some of its stimulus, which in […]
Here are the latest developments in global markets: FOREX: The dollar traded slightly higher versus a basket of currencies and further above a two-week low hit earlier in the week. Despite this, it was still on track to record a weekly loss. The euro was down, though it recovered to a significant extent earlier losses […]
EURUSD is trading within a descending move on a long-term timeframe over the last nine years. However, the pair has managed to advance more than 12% so far during 2017 following the rebound from the major support level of 1.0340 – a 14-year low. The world’s most traded currency pair recorded eight bullish months out […]
Here are the latest developments in global markets: FOREX: Major currencies were range-bound during the early European session, with the euro being not much stressed ahead of a regional election in Catalonia. Euro/dollar changed hands at 1.1880 around 1000 GMT (+0.09%), while euro/yen edged up to a two-year high of 134.86 (+0. 12%).The dollar was […]
The US 100 index is currently trading relatively close to the all-time high of 6,525.00 hit on Monday. The bias in the short-term remains positive as indicated by the Tenkan-sen line being above the Kijun-sen one, despite the index losing some ground in the two days that preceded. However, the stochastics are suggesting that the […]
EURUSD surged during the European afternoon on Wednesday and jumped towards the 1.1900 critical handle, almost reaching a three-week high. For the past two weeks, the euro has been developing within a narrow range between 1.1715 and 1.1862 versus the US dollar and Wednesday’s high was just 40 pips above the range’s peak. Moreover, the […]
NZDUSD is neutral in the short-term after a bullish move from the 0.6800 handle. The trend signals on the 4-hour chart are bullish, defined by a crossover of the 50 SMA above the 200 SMA. The market has now entered a consolidation phase after rising to its highest level since October 20 last Friday at 0.7033. NZDUSD […]
Here are the latest developments in global markets: FOREX: The dollar edged slightly higher versus a basket of currencies but was still trading not far above a two-week low hit yesterday. The US currency continued gaining versus the yen, being supported by rising Treasury yields. STOCKS: The Nikkei 225 closed down by 0.1% and the […]
USDJPY has been moving sideways since March, in a broad range between 108 to 114. In the near term, the pair has firmed up after breaking above the 50-day moving average yesterday. If there is continued upside momentum, then additional gains are likely, with scope to target the top of the range. However, the level […]
CHFJPY has been trading within a descending triangle, which is a continuation pattern, since June 2017. In a daily timeframe, the price posted the third consecutive green day. The pair tested several times the upper band of the triangle so a daily close above the descending triangle and the 115.10 strong barrier could drive the price towards […]
Under an ultra-easy monetary policy which aims to hold the 10-year bond yields around zero percent, the Japanese economy has indeed shown signs of recovery in several sectors this year. However, with inflation sharply undershooting the BOJ’s target, policymakers are less likely to change their monetary policy stance at the end of their two-day meeting on Thursday. Still, the […]
Bitcoin (BTC) prices opened with a positive gap this week, breaking yet another fresh all time-high to touch the $19,666 level, before pulling back in the following hours. The surge came as the world’s biggest futures exchange, the Chicago Mercantile Exchange (CME), launched its own bitcoin futures contracts on Sunday. The CME is the second […]
ETHUSD recorded a negative day following the reversal from the all-time high 859.19 level. The price plunged more than 12% in just one trading day and during the Asian session, the pair hit the 706.00 support barrier. Also, the price dropped below the 261.8% Fibonacci extension level of the last downward move with high at 514.07 and low […]
Here are the latest developments in global markets: FOREX: The dollar was not much changed versus other major currencies as trading is getting thinner ahead of the Christmas holidays and as the House of Representatives is anticipated to cast a final vote in favor of tax reforms later in the day. STOCKS: European equities were […]
Sterling staged a modest recovery in 2017, on the back of a rate hike by the Bank of England and some noteworthy, albeit slow, progress in the Brexit talks. Even though monetary policy has been supporting the currency in recent months, it is an open question whether this will remain the case moving forward. Moreover, […]
EURJPY remains in a 3-month neutral phase but in the short-term the pair is bullish. On the 4-hour chart, the market is testing key resistance at 134 which is the top of the medium-term range. Near-term upside momentum has faded as can be seen by the RSI turning neutral. EURJPY remains firm but if it […]
Here are the latest developments in global markets: FOREX: The dollar was not much changed versus a basket of currencies as markets awaited the House of Representatives to cast a final vote in favor of tax reforms later today. The euro was roughly flat after receiving a lift from higher German bond yields. STOCKS: The […]
AUDUSD has been neutral since late October and has been capped by the 200-day moving average and supported at the key 0.7500 level. The medium-term downtrend from the 0.8124 peak on September 8 remains in progress and has not shown any signs of reversal. The crossover of the 50-day MA below the 200-day MA is a bearish […]
New Zealand’s third quarter GDP growth figures are due on Wednesday at 2145 GMT, with forecasts projecting a slowdown in the pace of expansion during the quarter. The kiwi will be in focus as slower growth has, among others, the capacity to postpone policy normalization plans by the Reserve Bank of New Zealand. Quarterly growth […]
WTI oil futures entered a neutral phase since late November following a rise from the 54 handle to 59. In the near term, prices gained upside momentum after testing and moving off the 57 level yesterday. The market remains well bid in the short-term as can been seen on the 4- hour chart. After yesterday’s […]
