USDJPY has come under increased downside pressure after sharply reversing a recent rally from the 111 to 113 handle. Near-term momentum has stalled as can be seen by the RSI which did not fall to far below the 50 line. USDJPY has consequently stabilized near the mid-112 handle. But additional weakness cannot be ruled out […]
Two days ago, the credit card company Visa said that Black Friday’s sales failed to boost British spending in November, while consumers paid less on Christmas traveling and on new vehicles, sending the inflation-adjusted Visa consumer spending index down by 0.9% y/y. Even if November’s decline was softer than October’s when the index tumbled by 2.1%, the […]
Monetary policy meetings by the European Central Bank and the Bank of England this week have had their limelight stolen by the US Federal Reserve, which is expected to move on rates while no action is anticipated from the ECB and the BoE. Both central banks took historic decisions at their last respective meetings, with […]
China will see the release of figures on November fixed asset investment, industrial production and retail sales on Thursday at 0200 GMT. The data are not just important for the world’s second largest economy, but also Australia, which has China as its major exports destination. The annual pace of growth for fixed asset investment in […]
BTCUSD is extending its gains with an aggressive bullish move and is creating the third straight green month. The price has soared more than 173% since October and every single month is printing a new all-time high. On the medium-term timeframe, the bitcoin is currently trading lower and the technical indicators seem to be in confusion. The […]
ETHUSD is has been edging sharply higher since October and added 98% to its performance. Ether launched in 2015 and surged more than 8,000% since the start of 2017. During this month, the price recorded another all-time high at $687.41 but lost some momentum and is currently developing near the $646.10 price level, and especially over the last three trading days the […]
Bitcoin prices briefly touched the $17,428 level on Tuesday, marking yet another fresh all-time high for the cryptocurrency, following the launch of the first bitcoin futures contract on the Chicago Board Options Exchange (CBOE) this week. The launch was widely seen as a major step towards making Bitcoin – and cryptocurrencies in general – more […]
Here are the latest developments in global markets: FOREX: The dollar remained flat near intraday lows, last trading around 113.30 versus the yen (-0.21%), as the Democrats Senate win in Alabama weakened Republicans’ majority, threatening the Trump administration’s future economic agenda. The pound climbed higher towards 1.3350 (+0.23%) after the UK employment data showed that in […]
EURJPY has been in a neutral phase for the past three months as the pair has been trading sideways in the 131-134 area when the uptrend from April to September lost steam. Looking at the 4-hour chart, EURJPY is capped at the 50-period moving average at 133.33. Support is in the zone between the key […]
The Federal Open Market Committee is widely expected to raise interest rates for the third time this year and for the fifth time since the end of 2015 on Wednesday. But what seems to matter the most to investors regarding the outcome of the meeting, is the update on the country’s economic outlook and the speed of the delivery of stimulus reduction […]
Here are the latest developments in global markets: FOREX: The dollar was losing ground relative to majors after Republicans lost a Senate seat in Alabama, resulting in a narrower Senate majority for them. Still, there were no sharp movements amongst majors as European traders were starting their trading day, with markets awaiting fresh catalysts to […]
AUDUSD is clearly in a downtrend since falling from the multi-year high of 0.8124 to the 0.7500 area. The crossover of the 50-day moving average below the 200-day MA highlights the bearish outlook. Immediate downside pressure has eased and the market has moved out of oversold conditions, as both the RSI and stochastics have risen […]
WTI and Brent crude have recorded strong gains since roughly the completion of the first half of the year. Year-to-date, they’re up by 8.6% and 14.9% respectively, while their appreciation from the year’s lows in late June stands at 38.7% and 47.2%. Both benchmarks currently trade around 2-½-year highs. Energy stocks have been beneficiaries of […]
On 9th December, XM hosted its latest free seminar in Athens, Greece, dedicated to imparting useful knowledge on trading Contracts for Differences (CFDs) on different financial instruments. For online investors genuinely dedicated to consistently improving their trading knowledge is not only a must in today’s world but also a way to keep up with the […]
Here are the latest developments in global markets: • FOREX: UK headline CPI picked at a fresh six-year high of 3.1% y/y in November, increasing the odds for further rate hikes in the coming years as the BOE wishes to bring inflation back to its target of 2.0%. The pound jumped to a session high […]
WTI oil futures are in a bullish phase and flowing back to the upside, having recouped almost all of the losses made from the decline of the early December high at 58.86 to the December 7 low of 55.79. A clear break and daily close above 58.40 would open the way for a re-test of […]
Here are the latest developments in global markets: FOREX: The dollar was little changed against a basket of currencies ahead of a two-day meeting by the Federal Reserve that is to commence later in the day. The New Zealand dollar maintained positive momentum from yesterday, rising to its highest in a month relative to the […]
This December, XM successfully completed its forex trading seminar series started in Germany in autumn to offer both beginner and more seasoned traders professional education that can help them enrich their trading knowledge and develop their investing skills. The last two destinations of our seminar series were Munich on 25 November, and just two weeks […]
GBPUSD has been neutral since last week following a rise from near the 1.3000 level to a high of 1.3549 hit on December 1. The market is consolidating these recent gains and price action remains above the previous two months’ range. The 50 and 200- day moving averages are positively aligned. However, near-term risk is […]
The UK will see the release of November inflation figures at 0930 GMT on Tuesday. Annual inflation is expected to grow by 3.0%, the same more-than-five-year-high pace that was recorded in October and September. The pace of inflation has implications for the rate hike path that is to be implemented by the Bank of England. […]
On 9th December, XM returned to Italy with yet another free trading seminar, held this time in Reggio Emilia, designed for online investors keen on improving their trading practices with the help of XM’s free education. Together with event presenter Lorenzo Sentino, our XM staff members, who accompanied him to Reggio Emilia, were glad to […]
Here are the latest developments in global markets: FOREX: The pound was steady around $1.3385 despite May saying there is a new “sense of optimism” in the Brexit talks on Monday after she satisfied the European Commission’s demand last week on the three key divorce elements. However, the outline agreed must be voted by all […]
Gold has turned increasingly bearish and has shifted out of a range in which it has been trading in since early October. Prices broke below the 1270-1300 range to trade under 1250 since last Thursday. On the 4-hour time frame, there was a bearish crossover of the 50 and 200-period moving averages. RSI has dipped […]
Here are the latest developments in global markets: FOREX: The dollar was trading down relative to a basket of currencies but still not far below a three-week high of 94.09 reached on Friday. The antipodean currencies – predominantly the kiwi – were advancing relative to the greenback. The New Zealand dollar’s gains came on the […]
EURUSD’s recent decline has paused around the 50-day moving average. Downside pressure has eased for now but the medium-term neutral phase that started a few months ago remains intact. Looking at the daily chart, EURUSD was falling for five consecutive days and breached the 50-day MA before pulling back. Immediate resistance is expected at 1.1791 […]
Numerous central banks are scheduled to meet to set monetary policy next week. This includes the Federal Reserve, probably the world’s most closely watched central bank. It is also the one expected to make a move in the direction of policy normalization. Beyond this, major economies will see the release of important data, the UK […]
Here are the latest developments in global markets: FOREX: The dollar gained further momentum, crawling towards a fresh three-week high of 113.58 (+0.36%) versus the yen during early European trading hours as investors remained confident after a potential government shutdown in the US was averted on Thursday. The dollar index broke above the 94 key level (+0.25%). The pound stalled around 1.3463 (-0.19%) after reaching a […]
GBPJPY has firmed up and turned more bullish after breaking above the key 152 level on December 7. However, the rally off the 150 area has now stalled at 153.40 after the market became overextended. On the 4-hour chart the RSI reached overbought levels at 70 and due to weaker momentum in the market, GBPJPY […]
Here are the latest developments in global markets: FOREX: The dollar rallied overnight against its counterparts on news that US lawmakers agreed to temporarily extend the government spending bill, a day before the deadline on Friday. The pound was on track to post a second day of gains as concerns over a hard-Brexit calmed after the […]
USDCAD is rising back to the upper end of its range that has been forming since late October. Momentum strength is relatively weak as can be seen by the RSI. The short-term neutral phase is expected to continue as long as the pair is capped by the 200-day moving average. USDCAD has been unable to […]
