News / Page 11

European Session – Dollar gains as odds of a March rate hike increase

Posted on March 1, 2017 at 3:56 pm GMT

It was a busy session in European trading today as market participants were evaluating US President Donald Trump’s first speech before Congress while there was an abundance of economic data releases to digest as well. Trump’s speech on the one hand offered some relief as the US President appeared more conciliatory in his comments than in the past. On the other hand though, he didn’t deliver as much as expected regarding the specifics on how he plans to deliver on [..]

Technical Analysis – USDCAD looking bullish at 5-week high

Posted on March 1, 2017 at 2:43 pm GMT

USDCAD has been consolidating since peaking at a 10-month high of 1.3598 on December 28. The pair has recovered by almost 3% after touching a 4-month low in late January and this rally has helped the MACD turn positive on Tuesday for the first time in two months. The gains have been more prominent over the past three trading days, with prices surging above the Ichimoku cloud, which further underlines the near-term bullish bias. If prices continue to head higher, [..]

Technical Analysis – EURGBP neutral outlook with the price in between the moving averages

Posted on March 1, 2017 at 8:14 am GMT

EURGBP is currently down from the day’s open after hitting an eight-day high yesterday. The RSI indicator is hinting to a neutral short-term bias as it is currently at 50. The 50-day moving-average (MA), currently at 0.8556, is expected to provide resistance to upside moves. Should it fail to hold, the upper Bollinger band at 0.8624 is likely to provide additional resistance. An important mark beyond this level is the January 16 sixteen-week high of 0.8851. On the downside, the [..]

Asian Session – Dollar rises on Fed rate hike expectations despite lack of details on Trump policies

Posted on March 1, 2017 at 8:13 am GMT

The main focus of the markets was US President Donald Trump’s testimony in front of Congress. Trump’s speech was optimistic about the US economy and markets welcomed his pro-growth agenda. But nothing new was said and there was a lack of clarification on infrastructure spending, tax and regulatory relief, aside from asking Congress to set aside $1 trillion for infrastructure spending. The dollar initially fell as Trump spoke, as investors were disappointed there were no details on policies. Dollar / [..]

European Session – Dollar extends losses after US GDP data but main focus is Trump speech

Posted on February 28, 2017 at 3:38 pm GMT

It was a relatively subdued European session, as investors waited for US President Donald Trump’s Congressional Testimony later in the day. Such a big event carries a high degree of risk and uncertainty and will likely be market moving, especially if Trump disappoints. There are expectations for hints on the timeline on tax reforms and more clarity on infrastructure spending and revenue generating policies. Slight risk aversion in the markets helped support safe havens such as the yen and the [..]

Investment Theme – Pound hit by fresh Scottish referendum fears as Article 50 deadline looms

Posted on February 28, 2017 at 3:25 pm GMT

The British pound has been hit by fresh market jitters about a possible call for another Scottish independence referendum, threatening to create a major headache for the UK government as it prepares to formally give notice to the European Union of its intention to leave the organization. While the risk of a fresh referendum by the Scottish Nationalist Party (SNP) is nothing new, reports in the Sunday Times over the weekend that UK Prime Minister, Theresa May, is readying for [..]

Technical Analysis – GBPJPY bearish in the short-term after recording a 20-day low

Posted on February 28, 2017 at 1:18 pm GMT

GBPJPY has been experiencing losses since the day’s open with the price currently not far above the 139.00 level hit yesterday which marked a 20-day low for the pair. The RSI is currently at 42, below the 50 neutral level. The stochastics are also painting a bearish short-term picture as the %K line is bearish and it has crossed below the slow %D line. It should be noted though that %K is close to the 20 oversold level and should [..]

Technical Analysis – Gold rally stops at 200-day moving average

Posted on February 28, 2017 at 8:37 am GMT

Gold has been rising since the December low of 1122.66. Prices rose steadily to break above the 50-day moving average (MA) and breached the key psychological level at 1200. The uptrend was capped by the 200-day MA at the 1261 area. Prices were unable to close above the 200-day MA yesterday but briefly spiked above it to hit a fresh 3-month high of 1263.74. A daily close above the 200-day MA today could trigger an upside move towards the 1300 [..]

Technical Analysis – EURUSD below 50- and 200-day moving averages

Posted on February 28, 2017 at 8:28 am GMT

EURUSD is currently slightly up for the day after hitting a weekly high the previous day. The short-term sentiment as depicted by the RSI is bearish as the indicator is below 50 at 46. The MACD indicator is giving a similar picture as the histogram is in negative territory and below the red signal line. Note though that RSI is fairly close to the 50 neutral level. The 50-day moving average (MA), currently at 1.0606, is expected to provide resistance [..]

Asian Session – Dollar trims gains versus yen ahead of Trump budget speech

Posted on February 28, 2017 at 8:08 am GMT

The dollar index opened in Asia marginally higher than yesterday’s close after hawkish comments from FOMC member Rob Kaplan helped underpin the greenback. Speaking at an event in Oregon yesterday, Kaplan reiterated his view that a rate hike should come sooner rather than later. This helped the dollar / yen move off an 18-day low that was below 112-yen, to rise to a high of 112.83. But the dollar reversed throughout today’s Asian session as investors shifted their focus to a [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms

How to Access

Telegram Chat Terms

News