USDJPY is in a broad neutral trend as the market remains trapped in a range between 108–114 during the past 8 months. In the short-term, the pair rose towards the upper end of the range but has found strong resistance and reversed back down from a high of 114.73. The bullish phase from 107.31 has […]
Following a disappointing report on Australian wage growth on Wednesday, the Australian Bureau of Statistics is due to give an outline on the state of the labor market at 0030GMT on Thursday. Unlike wage forecasts which projected a rise in earnings, analysts anticipate the economy to create fewer jobs in October, maintaining the unemployment and participation rates steady at their previous levels. If the […]
Markets remained in risk-off mode in European trading on Wednesday, with risk assets coming under pressure while safe-havens flourished. The US dollar extended its losses against the yen despite another batch of solid data out of the United States today. The euro rallied to a one-month high against the greenback, but the pound remained range-bound. […]
Inflation readings on Tuesday suggested that British pockets will remain squeezed ahead of the Christmas shopping season, as consumer prices continued growing steadily by 3.0% in October, potentially flagging another disappointing month for retailers. With Brexit negotiations trapped in a deadlock and British real wage growth showing no signs of a significant rise, annual retail sales in October are […]
EURJPY is neutral in the medium term but in a shorter time frame the pair is in a bullish phase. The market has been consolidating gains made after a rally took EURJPY to the mid-134 handle, the highest level since November 2015. Since the end of September, prices have been moving sideways in a range with […]
On 9th December, XM will be hosting a seminar with free participation in Athens, Greece, where we look forward to welcoming online investors interested in learning about CFD trading on the MT5 platform. All those who join our seminar will receive a joint presentation of Avramis Despotis and Charalambos Spyridis on the concept and practical […]
Major Asian indices extended yesterday’s decline during today’s trading with some of them recording sizable losses. In Japan, The Nikkei 225 and the Topix fell by 1.6% and 2.0% respectively, further distancing themselves from last week’s multi-decade high closes. The Topix, which more broadly gauges Japanese equity performance, slid for the fifth straight day for […]
On Wednesday, the dollar performed poorly relative to its major counterparts in Asia, failing to recover on the back of a stronger euro and on continued concerns on the future of the US tax overhaul. Its Australian peer, however, was the worst performer during the session, as wage growth readings out of the country missed expectations. The […]
AUDUSD is in a bearish phase as it extends its decline from the multi-year peak of 0.8124. The pair is now testing its lowest level since July. The bearish outlook was strengthened after prices fell below the 200-day moving average. Key support failed at the 61.8% Fibonacci retracement level (0.7630) of the upleg from 0.7328 […]
The euro enjoyed its strongest daily gain in a month as upbeat GDP numbers out of Europe lifted sentiment for the region. The pound came under pressure though after UK inflation missed expectations, while the US dollar remained below session highs despite US producer prices rising more than anticipated. Stronger-than-expected growth in Europe’s largest economy […]
The past one week has been a really busy one for the XM team on tour in Australia. So far we have concluded two successful seminars in Melbourne and in Sydney, where we were pleased to meet with a great number of our existing clients and welcome many new clients interested in developing their trading […]
A run of strong economic indicators in the United States in recent weeks has left investors in no doubt that the Federal Reserve is on track to raise interest rates for a third time this year at its December policy meeting. Inflation data due on Wednesday is unlikely to shift those expectations much even if […]
Japanese third quarter GDP figures are due on Tuesday, November 14 at 2350 GMT. Quarter-on-quarter, the economy is expected to have grown by 0.3%, while on an annualized basis, economic activity is projected to have expanded by 1.3%. Should the figures come out as anticipated, then they would reflect a slowdown relative to the second quarter’s 0.6% q/q and […]
WTI oil futures have paused after a strong rally from 49.07 to 57.89. The market reached overbought levels on the 4-hour chart, as indicated by RSI rising above 70, and consequently, prices corrected lower and fell below the key 57.00 level. A falling RSI is tilting immediate risk to the downside. A dip in the […]
Major benchmarks in Asia finished the day in the red today. The Nikkei 225 finished flat after gaining as much as 0.7% and losing as much as 0.3% during the day. Japan’s broader gauge of equity performance, the Topix, lost 0.3%. Hong Kong’s Hang Seng closed 0.1% down, while the Shanghai Composite fell by 0.5%. […]
Ahead of a busy day in terms of economic data out of the UK, the US and the Eurozone, the pound moved lower as doubts over May’s leadership continued weighing on the currency, while markets were also cautious whether British lawmakers would approve the government’s Brexit bill. The aussie was the biggest winner of the session, gaining on business […]
Our summer-autumn seminar road trip across Malaysia reached the city of Kuantan on 11th November, welcoming online investors to the free XM seminar titled Confluence Techniques in Forex Trading. Since the beginning of 2017, XM has been extensively engaged in organizing forex trading seminars in various Malaysian cities with the goal to educate novice online […]
GBPUSD is neutral in the short-term and trading in a range between 1.3026 and 1.3337 following a decline from 1.3656. The RSI and MACD are neutral as momentum has weakened, suggesting the consolidation phase is expected to continue in the near term. Risk it tilted to the downside as gains have stalled in the past […]
Following encouraging evidence on Britain’s industrial output on Friday, the upcoming data on consumer prices on Tuesday are expected to show that British inflation continues to grow above the BOE’s target and likely pushing the pound higher. However, inflation drivers are not demand-led but a result of exchange rate weakness, challenging the BOE Governor, Mark […]
In the absence of major economic releases during today’s European session trading, forex markets were focused on upcoming data, a central banking conference set to take place tomorrow and developments on the political front, in particular Brexit and the US tax reform. Sterling was the worst performing major currency. The dollar’s index against a basket […]
Gold has been maintaining a neutral bias for just over a month now after entering a consolidation phase. The downtrend from a multi-month high at 1357.47 has not shown signs of reversal yet as the market remains well below the mid-point of this decline to 1260.59. Prices are currently trapped below the 23.6% Fibonacci retracement […]
In Asian equities, the Japanese Nikkei 225 and Topix indices finished the day lower by 1.3% and 0.9% respectively, further distancing themselves from the multi-decade highs recorded last week. The Nikkei recorded its worst daily performance since May. Hong Kong’s Hang Seng added 0.2% to finish at its highest in almost ten years and the […]
Forex markets were relatively quiet on Monday as economic releases were limited. However, political challenges in the UK during the weekend, pressured the pound, while the dollar managed to gain ground as investors were widely expecting a third Fed rate hike despite continuing uncertainties around the US tax overhaul lingering in the background. An article published in the Sunday Times over the weekend […]
EURUSD maintains a neutral bias in the short term and has not changed much since entering a range two weeks ago. The market is showing signs of stabilization as the sell-off has slowed somewhat over the past couple of weeks. There has been a lack of a trend following a break below the neckline (1.1600) of […]
The dollar was on track to finish the week in the red against its major counterparts after three weeks of rising as uncertainties around the US tax overhaul continued weighing on the markets and disappointing readings on the Michigan Consumer sentiment also pressured the dollar. On the other hand, the pound was the biggest winner during the European session as […]
Economic data will move to the forefront next week as the focus moves away from central bank meetings to price, employment and consumer spending indicators. Canada, the Eurozone, the UK and the US all release CPI numbers. Jobs reports are due from Australia and the UK, and retail sales figures will be published in China, […]
EURCHF has been making lower tops and bottoms since October 26, stretching its downtrend to a three-week low of 1.1526 on Thursday. The pair is currently trading with a neutral bias on the four-hour chart, but risks remain to the downside in the short-term. The pair is capped by the 20-period MA below the Ichimoku cloud, sending bearish […]
Following yesterday’s sharp reversal that saw the Japanese Nikkei 225 and Topix indices retreat from multi-decade highs, the two benchmarks extended losses today, finishing lower by 0.8% and 0.7% respectively. Hong Kong’s Hang Seng lost 0.05%, staying near its highest in almost 10 years, while the Shanghai Composite added 0.2% to record a near two-year […]
GBPJPY has been neutral since peaking at 152.85 in September, consolidating in a broad range above the mid-point of the rise from 141.34 to 152.85. Near-term risk is tilted to the downside as the market has dropped below the 200-moving average on the 4-hour chart. Immediate support is at 148.40, which is the 38.2% Fibonacci […]
US tax legislation was the main headline during today’s Asian session after the US Senate flagged a delay in corporate tax cuts on Thursday, pushing the dollar lower against its counterparts. Meanwhile, the aussie posted moderate losses after the RBA downgraded its forecasts on inflation. While the US President continues his trip in Asia, his team back in the US faces […]
