After yesterday’s decline that ended their long streak of gains, the Japanese Nikkei 225 and the Topix indices advanced by 0.15% and 0.1% respectively during today’s trading. Hong Kong’s Hang Seng lost 0.4% and the Shanghai Composite added 0.3%. Australia’s S&P/ASX 200 rose 0.2%. Today’s decision on monetary policy by the European Central Bank at […]
NZDUSD maintains a bearish bias since declining steadily from the September 20 peak of 0.7434. Downside pressure in the market increased after the bearish crossover of the 20 and 50-period moving averages on the 4-hour chart. The recent sharp decline has shown signs of exhaustion, with RSI at oversold levels, as the market pauses just […]
As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week. The dollar index, which measures the strength of the US currency versus the currencies of six […]
USDJPY has been neutral during the past 7 months, with the market trading in a broad range between roughly 108 and 114 since mid-March. The recent rally off 108 to 114 has lost steam. Technical indicators are in bullish territory (RSI above 50 and MACD above zero) and suggest the market should be well supported […]
We would like to inform our clients that due to the end of Daylight Savings in Europe on Sunday, October 29th 2017, and in the United States of America on Sunday, November 5th 2017, the trading hours of various instruments will be affected between 29 October and 6 November 2017. The normal trading hours will […]
The British pound was a notable gainer during today’s trading as forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the loonie, aussie and the kiwi and […]
The US 30 stock index reached another all-time high of 23485.10 yesterday as the index extended its second longest bull run in its history. Prices broke above the 23000 level for the first time on October 17 and are trading above their moving averages. The bullish picture in the medium term is further supported by […]
Asian markets projected a mixed picture today with movements from major benchmarks being fairly limited. The Japanese Nikkei 225 and Topix indices finished the day lower by 0.45% and 0.3%, ending a 16- and 12-day streak of positive closes respectively (the longest on record for the Nikkei) that brought them to multi-year highs. Hong Kong’s […]
EURJPY holds a neutral intraday bias as prices consolidate in the upper 133 handle after a rebound from 131.65 (October 16 low). More upside is possible since a bullish signal was given by the crossover of the Tenkan-sen line above the Kijun-sen line on the 4-hour chart last week and prices are currently trading above […]
The Australian dollar was the biggest mover of today’s Asian session as it plunged to 3-month lows versus the greenback after the announcement of third quarter inflation. Other major pairs were mostly holding around the previous session’s levels, with the US dollar preserving its gains. Third quarter headline inflation for the country came in at […]
AUDUSD is under pressure and fell for a fourth consecutive day today. The pair has approached a critical area and could close below the 50% Fibonacci retracement level of the uptrend from 0.7328 to 0.8124. The bias is now clearly to the downside and a daily close below 0.7724 (50% Fibonacci) could trigger a deeper […]
The US dollar did well versus a number of currencies on Tuesday as it gained significantly versus the pound, the kiwi and the aussie. The euro closely mirrored the dollar’s gains as traders are waiting for the outcome of the ECB meeting on Thursday before moving the world’s most traded foreign exchange pair: euro/dollar. The […]
This autumn, XM started a seminar series in Germany on 21st October, the first destination of which was Berlin, where we were glad to welcome online investors, including many of our existing clients, who joined the educational event. Organized at Maritim Pro Arte Hotel, Berlin, the seminar attracted online traders interested in learning useful details […]
In Asia, the Nikkei 225 finished the day higher by 0.5%, extending its record winning run to 16 straight days. The Topix, a broader gauge of Japanese equities, added 0.7% to record its 12th consecutive daily advance. Both benchmarks currently stand at multi-year highs. Hong Kong’s Hang Seng shed 0.5% with the Shanghai Composite adding 0.2%. […]
Shortly after having visited the Philippines with a free forex trading seminar this summer, the XM team headed back to further destinations in the country with a new seminar series, the last location of which was Manila on 21st October. This year, XM has hosted several free seminars for Filipino traders engaged in continued learning […]
WTI oil futures have been moving sideways in the past two weeks and are trading in the upper half of a broader range that has been forming during the past month following the rise above 49.00 on September 13. On the 4-hour chart, there was a recent bounce ahead of the 49.00 level which is […]
Most foreign exchange majors stayed within narrow ranges during today’s Asian session as traders were awaiting key business survey data out of the Eurozone and the United States later in the day. The only big mover was the New Zealand dollar, which continued to post heavy losses as the country was seen getting a coalition […]
GBPUSD has been maintaining a soft bias since peaking at 1.3656. The pair has managed to trade above the key 1.3000 level since declining from the September 20 high and this looks like a strong support level, which if broken would increase downside pressure. The market has mainly been pivoting around the 50% Fibonacci retracement level (1.3215) […]
The US dollar held on to most of its Asian session gains in European trading on Monday as the yen remained weak after Abe’s landslide victory in Japan. The euro slipped further into losses as the stand-off between Madrid and the Catalan authorities intensified, while sterling also lost ground amid worries about the British economy. […]
This autumn, XM continued its forex trading seminar series started in the MENA region in September, reaching its next destination on 21st October: the city of Amman, Jordan. The seminar was held at Kempinski Hotel, where all those traders who honoured us with their presence could attend forex instructor Habib Akiki’s presentation on some of […]
In Japanese equities, the Nikkei 225 and the broader Topix once again finished the day in the green, extending their multi-year high closes; the Nikkei added 1.1% and the Topix rose by 0.8%, closing at their highest since 1996 and 2007 respectively. Hong Kong’s Hang Seng declined by 0.6%, while the Shanghai Composite added 0.1%. […]
The long forex trading seminar road trip started by XM this autumn in Malaysia has reached two further destinations: Kedah and Kota Bharu, providing forex traders with extensive education about online investing techniques and strategies. Since February, Malaysian online investors have had the opportunity to join in a high number of free forex trading seminars […]
Gold has taken on a bearish bias again in the short-term after failure to sustain an upside move above the key psychological level at 1300. Prices attempted a recovery off the 1260 area but this move proved to be a correction of the September to October downtrend that is in progress since the more than […]
Foreign exchange markets were under the spell of political developments in the absence of important economic news, with developments in Japan, the US and Spain more or less setting the tone. The yen was the session’s biggest loser as Prime Minister Abe’s comfortable win over the weekend meant the probable continuation of fiscal and monetary […]
EURUSD maintains a neutral bias in the short term as it continues to consolidate below the 50-day moving average. The longer-term uptrend stalled at 1.2091 in early September and since then there was a pullback that took the pair below the key 1.1900 level. The RSI and MACD indicators are neutral but the market is […]
We would like to inform our clients that considering our recent notification regarding the Japanese General Election, the margin requirements on all instruments have been automatically readjusted in accordance with the previous leverage settings of each of our clients’ trading accounts on financial instruments as of today, Monday 23rd of October 2017. All temporary measures […]
Our forex trading seminar due to take place in Florence, Italy, will be soon followed by yet another free seminar in the city of Reggio Emilia on 9 December. We look forward to meeting with our existing and prospective clients who wish to attend XM’s free seminar on the premises of Hotel Remilia, where event […]
The European Central Bank will take centre stage next week as it announces its long-awaited decision to scale back its asset purchase program. Central banks in Canada, Sweden and Norway will also be holding their monetary policy meetings. On the data front, the first estimate of third quarter growth in the UK and the US […]
As markets head into the weekend, investors during the European session were concentrated on political developments in Spain as well as on Brexit negotiations. Japanese snap elections would be also in focus on Sunday with the yen showing some weakness on Friday. However, the loonie was the worst performer out of majors today after retail sales and inflation figures came in worse than expected. […]
At 1355 GMT, a few minutes after US stock markets opened for the trading day, most major European benchmarks were looking set to finish this week’s last trading day on a positive note. The pan-European Stoxx 600 was higher by 0.25% on the day, though it was lower by 0.3% on a weekly basis after […]
