Gold is neutral after stabilizing from a recent drop, but risk is tilted to the downside in the short term. On the 4-hour chart, oscillators are neutral to bearish. The market appears to have found near-term support in the lower 1265 area, just above the October 6 low of 1260.59. Any moves to the upside would target […]
The dollar managed to hit an 8-month high against the yen on Monday in Asia after the BOJ Governor Haruhiko Kuroda signaled a continuation of the current ultra-easy monetary policy, while persistent confidence on the US economy supported the pair as well. Oil recorded a substantial increase, rising to a two-year high amid tightening markets and as anti-corruption measures […]
USDCHF has been in an upward path after reaching a 26-month low of 0.9419 on September 8. The pair has reached and has been trading around the parity level (1.00) in recent days. The Tenkan-sen line being above the Kijun-sen line is a positive alignment pointing to bullish momentum in the short-term. The RSI adds […]
EURUSD maintains its bearish outlook after the breakdown of the key level at 1.1660. The chart pattern on the daily time frame indicates a head and shoulders pattern with a break below the neckline giving a bearish signal. Resistance at 1.1660 is expected to hold in the near term, as EURUSD continues to trade in […]
The Reserve Bank of Australia is due to announce its latest policy decision on Tuesday amid a mixed outlook for the economy. Australia’s central bank is almost certain to hold rates unchanged at 1.5% following disappointing inflation and retail sales numbers for the third quarter. Rising household debt has been holding back consumer spending, with […]
The US dollar posted gains during today’s European session, despite a disappointing October employment report, which did little in dissuading the market to expect a rate hike at the next Fed meeting. In this week’s major economic release, the US labor market rebounded less strongly than expected from the hurricane-induced slowdown of September. The economy […]
The central bank theme will continue for a third week following the past fortnight’s policy meetings by the ECB, Bank of Japan, Fed and the Bank of England. This time, it will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand. Data-wise, the main focus will be on […]
Out of Asia, Hong Kong’s Hang Seng added 0.3% with the Shanghai Composite finishing the day lower by 0.4%. Australia’s S&P/ASX 200 advanced by 0.5%. Japanese markets were closed for Culture Day. At 1001 GMT, the overall picture in Europe was positive for the most part with the pan-European Stoxx 600 being up by 0.2%. […]
GBPJPY does not have a clear trend since rising to a high of 152.85, subsequently consolidating gains in a broad 147 – 152 range. On the short-term time frame, the pair is neutral to bearish, pausing a decline after rallying to the upper end of the range near 152 and dropping sharply to break below […]
As Asian traders were completing this week’s trading, the dollar was not much changed relative to most major counterparts with investors’ attention falling to the US jobs report due at 1230 GMT. At 0818 GMT, the dollar’s index against a basket of currencies was 0.1% higher, trading at 94.79. It yesterday fell to a one-week […]
USDCAD is neutral in the short term after a recent rally lost steam at a high of 1.2916. The underlying downtrend from 1.3793 is weaker after the strong rebound but the pair still remains under the 200-day moving average, keeping the bearish market structure still in place. The short-term technicals are neutral and suggest the […]
The pound was the biggest loser of today’s foreign exchange action after the Bank of England hiked rates by a quarter point but promised to be ‘gradual’ regarding future rate increases. The US dollar failed to benefit from the unveiling of key details regarding the tax reform plan of President Trump and Congressional Republicans. The […]
NZDUSD maintains its downtrend from the September 20 high of 0.7434 but downside momentum has paused at 0.6817. The short-term bias has shifted to the upside after a strong rebound lifted the pair to 0.6942 earlier today. There were bullish signals on the 4-hour chart, as the market is now trading above the 20 and 50-period moving […]
Asian equities were projecting a mixed picture today. The Nikkei 225 and the Topix, which more broadly gauges Japanese equity performance, added 0.5% and 0.4% respectively, yet again closing at multi-year highs. Hong Kong’s Hang Seng lost 0.3% and the Shanghai Composite slid by 0.4%. Australia’s S&P/ASX 200 retreated by 0.1%. In the US, sources […]
XM’s humanitarian work, started earlier this year, to help the children of the Saint Antonios of Monde Orphanage in Wobulenzi, Uganda, has continued. Just one week ago, our XM team returned to Wobulenzi to inaugurate the new school block we built for the local children. We have all been looking forward to being back to […]
There was some profit-taking on the US dollar following reports that President Trump has decided to nominate Fed Governor Jerome Powell for the post of new Fed Chair. The kiwi and the aussie were doing well following upbeat trade and housing data out of Australia, while all eyes later today will be on the Bank […]
USDJPY has been trading in a broad range during the past 7 months, roughly between 108.00 and 114.00. In the shorter time frame, the pair has turned neutral after a bullish run took it to the top of the longer-term range. Strong resistance at the October 27 high of 114.45 needs to be broken in […]
After a series of on-site educational events hosted for Italian-speaking online investors throughout the year, on 23rd November XM will be returning to Italy once again, and this time to participate at ITForum 2017 financial exhibition in Milan. This will be the second time this year for XM to attend ITForum 2017, the first event […]
The prevailing risk-on mood ahead of key risk events in the next few days lifted the US dollar and weakened the yen in European trading on Wednesday. Upbeat economic data also boosted the greenback along with the British pound. The aussie and kiwi were other notable gainers, while the euro joined the yen in being […]
Friday’s job report is undoubtedly the week’s most significant data release out of the US. However, ahead of that, other events also have the capacity to steer the greenback in either direction. Nonfarm payrolls are projected to have increased by 312k in October. This is in stark contrast to September’s decline by 33k which marked […]
Bullish sentiment was strong during today’s trading in Asia with major indices recording notable gains. In Japan, the Nikkei 225 and the broader Topix advanced by 1.9% and 1.2% respectively, closing at fresh multi-year highs. Hong Kong’s Hang Seng added 1.2% and the Shanghai Composite rose by 0.1%. Australia’s S&P/ASX 200 gained 0.5% and South […]
EURJPY is firmer after the bounce up earlier this week following a sharp fall from highs not seen since late 2015. The cross continues to benefit from strong upside momentum in the short term. Looking at the broader trend, the market has been neutral since mid-September. The level at 131.45 has provided strong support. Soft […]
The dollar was little changed ahead of a very heavy calendar the next three days, while the kiwi staged an impressive rebound following the release of strong employment numbers out of New Zealand overnight. The US dollar was definitely going to be in focus for the rest of the week due to the Fed meeting […]
AUDUSD is under pressure below its 200-day moving average. The market has been reversing the May to September uptrend, retracing over half of this move. The drop below the 50% Fibonacci level of the 0.7328 to 0.8124 upleg last week has strengthened the short-term bearish bias. The market is now consolidating just above Friday’s low of 0.7624 and […]
The pound has been on an uptrend for much of 2017, led by a weaker dollar in the first half and by expectations of a UK rate rise in the second half. Its high of the year and post Brexit peak of $1.3656 was reached soon after the Bank of England’s September policy meeting when […]
The Canadian dollar lost ground versus its US counterpart as GDP figures unexpectedly reflected a contraction in the Canadian economy. Eurozone data on inflation, economic growth and unemployment out during today’s session gave a mixed picture. The pound moved higher after some comments by Michel Barnier, the EU’s chief Brexit negotiator, which suggested that Brexit […]
Policymakers at the US Federal Reserve begin a two-day monetary policy meeting today with an announcement expected at 18:00 GMT on Wednesday. With no move in rates anticipated at the November meeting and no accompanying press conference, the event is unlikely to receive much reaction in financial markets, especially as there is a bigger focus […]
In Asia, the Nikkei 225 remained flat, while the Topix, Japan’s broader gauge of equity performance, lost 0.3%. Hong Kong’s Hang Seng slid 0.3% while the Shanghai Composite added 0.1%. Australia’s S&P/ASX 200 contracted by 0.2% and the South Korean Kospi advanced by 0.9% to close at an all-time high. Japanese benchmarks were impacted by […]
WTI oil futures are trending higher and have shifted to a more bullish bias after breaking above the 53.00 level. The recent rally stalled at 54.43, a level not seen since late February. Risk is to the upside but the market is now consolidating recent gains and is pivoting around the 54.00 level after upside […]
Foreign exchange markets and specifically the US dollar were cautious to break fresh ground during Tuesday’s Asian trading as a combination of bearish and bullish factors left traders waiting for more clues. The probe of links between the Trump campaign and Russia led to house arrests and criminal indictments the previous day, such as that […]
