News / Page 126

Technical Analysis – GBPUSD technicals suggest resumption of downtrend

Posted on February 17, 2016 at 7:52 am GMT

GBPUSD is giving a bearish tone. The RSI is in bearish territory below 50 and trending down, which is suggesting there is further downside momentum. The alignment of the 200, 100 and 50-day moving averages and the fact they are all sloping downwards, are bearish signals. After prices attempted to bounce higher from multi-year lows of 1.4078, strong resistance was found at the 50-day moving average and prices reversed back down from 1.4667. A drop below the key psychological level [..]

European Session – Sterling tumbles on Brexit fears, oil below $29 as Doha deal underwhelms

Posted on February 16, 2016 at 3:49 pm GMT

Oil-related news headlines today set the tone in the markets, giving a bit of a risk off mood. Oil prices fell below the key $30 a barrel again on the announcement of a production freeze by Saudi Arabia, Russia, Venezuela and Qatar after reaching a preliminary deal at a meeting in Doha today. The freeze would be applied to January output levels, which are already near record highs. Investors were disappointed with the agreement as they expected more (such as [..]

Risk helped by Chinese markets’ return from holidays in calm mood

Posted on February 16, 2016 at 2:53 pm GMT

The first two trading days of this week have been marked by the return of some positive risk appetite. While one can cite many factors for this – bargain-hunting, positive US economic statistics the previous week, promises of more stimulus, a rebounding oil price – one factor probably stands out – China. The reopening of markets in China following the Lunar New Year holidays was surprisingly uneventful given the volatility of the previous week when the country’s markets were closed. [..]

UK inflation at highest in a year but core rate slows

Posted on February 16, 2016 at 11:03 am GMT

British consumer prices showed signs of accelerating in January as headline inflation rose to a one-year high. Annual CPI edged higher to 0.3% in January, in line with estimates and up from December’s 0.2% rate. The month-on-month figure was weaker than expected though, recording a drop of 0.8% over the month versus estimates of a 0.7% drop. More significantly, the core rate of inflation, which excludes energy, food, alcohol and tobacco prices, eased by more than expected, rising at an [..]

Mid-European Session – Oil tumbles below $30, pound falls on UK inflation data

Posted on February 16, 2016 at 11:03 am GMT

There were some notable movements in the currency and oil markets this morning as economic data and news releases impacted prices. Oil prices fell back down, dropping below $30 a barrel on news that major oil producing countries reached a deal to freeze output. A meeting of oil ministers from Saudi Arabia, Russia, Venezuela and Qatar early today in Doha concluded with a conditional agreement to freeze production at January levels. Investors were disappointed as they expected more out of [..]

Asian Session – Dollar steady as oil and stocks recover

Posted on February 16, 2016 at 8:27 am GMT

The US dollar held on to yesterday’s gains on Tuesday as risk sentiment continued to improve. Asian equities extended their gains following another strong rally in Europe on Monday. China’s main indices were up over 3% on hopes that Chinese authorities will announce fresh stimulus measures. The yen weakened further as the Bank of Japan’s negative interest rates came into effect on Tuesday. The dollar touched a high of 114.86 yen before easing to 114.37 in late Asian session. Market [..]

Technical Analysis – USDJPY off oversold levels but bearish bias remains

Posted on February 16, 2016 at 7:52 am GMT

USDJPY closed above the 114 yen level yesterday, moving further off the 15- month low of 110.96 reached last week. The pair has risen for a third straight day today to hit a high of 114.86 . However more signals are needed in order to confirm that there is a shift in the recent bearish bias. MACD is still below zero and trending down, which is a bearish signal. RSI is also still in bearish territory below 50 but it [..]

European Session – Euro falls on Draghi, pound drops as BoE’s McCafferty talks rate cuts

Posted on February 15, 2016 at 3:49 pm GMT

Risk appetite was back on today and investors moved out of safe haven currencies like the yen and the euro, which were in demand for most of last week. Asian equity markets set the tone for the rest of the day, as Chinese markets returned more upbeat from their one week Lunar New Year holiday. The yen extended losses against the dollar, partly due to fading safe haven demand but also due to disappointing Japan fourth quarter GDP data that [..]

Technical Analysis – NZDUSD bias turns positive again

Posted on February 15, 2016 at 3:06 pm GMT

NZDUSD is attempting to recoup some of Friday’s sharp losses, gaining 0.8% on the previous close. Today’s rally was capped by the 61.8% of the Fibonacci retracement level of the December-January downleg from 0.6882 to 0.6346. With RSI trending up above 50 and the MACD turning positive, there is scope for further gains in the near term. Prices would need to break above the 61.8% Fibonacci level at 0.6675 and cross above the 200-day moving average to sustain the current [..]

China trade shrinks in January but yuan supported by record surplus

Posted on February 15, 2016 at 12:05 pm GMT

Hopes of a quick recovery in China’s trade performance were dashed after figures published today showed both exports and imports fell by a bigger-than-expected amount in January. January exports slumped by 11.2% year-on-year, widely missing forecasts of a more modest 1.9% drop. Imports also continued to decline and were down 18.8% from a year ago in January, falling short of estimates of a 0.8% fall. However, with imports falling at a faster pace than exports, China’s monthly trade surplus soared [..]

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