News / Page 229

Technical Analysis – EURGBP tests cloud base

Posted on April 17, 2015 at 4:24 am GMT

EURGBP is being capped by the daily Ichimoku cloud which is acting as very strong resistance. The last time the market was above the Ichimoku cloud was in December 2014. Since then the bias has been strongly bearish and prices reached a 7-year low of 0.7013 in March 2015. There was an attempt for a recovery to 0.7384 before falling back down due to the cloud resistance. RSI is back below 50, so this is a bearish signal. The market [..]

European Session – Euro outlook improves but Greek concerns weigh on markets

Posted on April 16, 2015 at 1:50 pm GMT

Euro / dollar remained volatile since yesterday after the euro initially rose against the dollar on the ECB’s improved outlook on the Eurozone economy but later fell back as the markets responded to the ECB’s commitment to the full implementation of the asset purchase program. Having later moved higher again on weaker-than-expected US industrial production figures, the euro went back into retreat as worries over Greece were heightened after Standard & Poor’s downgraded Greece’s credit rating to CCC+, describing Greece’s [..]

Strong Australian unemployment data raises doubts on further rate cuts

Posted on April 16, 2015 at 10:07 am GMT

Australian jobs data came in stronger than expected yesterday with the unemployment rate unexpectedly dropping to 6.1% in March against expectations that it would be 6.3%. February’s figure, which was the highest since September 2002, also took the markets by surprise after being revised down to 6.2%, suggesting a more robust labour market than many had anticipated. Total employment increased by 37.7 thousand to 11.7 million, giving an annual increase of 1.6%. The labour participation rate increased 0.1% to 64.8%, with [..]

Asian Session – Aussie climbs after strong employment numbers; US dollar off lows

Posted on April 16, 2015 at 7:18 am GMT

The Australian dollar was the day’s best performer following key employment numbers that showed the country’s labor market improving against expectations it would deteriorate. The unemployment rate fell to 6.1% in March instead of rising to 6.3% as economists had expected from the previous month’s 6.2% reading. Australian payrolls were also up by 37.7 thousand, against expectations of only a 15 thousand change. The data provides some positive evidence for an economy that has seen mostly negative news lately and [..]

Technical Analysis – EURUSD neutral bias with bearish outlook

Posted on April 16, 2015 at 5:44 am GMT

EURUSD is neutral in the near term. The pair remains in a range between a multi-year low of 1.0461 and 1.1051. A move lower would target 0.9900 – the 78.6% Fibonacci retracement level of the upleg from 0.8225 (low from 2000 )to 1.6038 (high from 2008). The overall outlook for EURUSD remains bearish. The market has been making lower highs and lower troughs since May 2014. The falling Ichimoku cloud is weighing on the market. Meanwhile, RSI is in bearish [..]

European Session – ECB Keeps Rates and QE Unchanged; Sees improvements in economic outlook

Posted on April 15, 2015 at 2:46 pm GMT

The European Central Bank kept interest rates unchanged today at its March meeting as expected. The interest rate on the main refinancing operations, the marginal lending facility and the deposit facility have remained at 0.05%, 0.30% and -0.20% respectively, since September 2014. With regards to the quantitative easing program that the ECB started last month, the Bank’s President, Mario Draghi said that “our focus will be on the full implementation of our monetary policy measures”, stressing that the ECB “intends” to [..]

China Q1 GDP in line with forecasts but weak monthly data increases worries

Posted on April 15, 2015 at 10:20 am GMT

The Chinese economy expanded by 7.0% year-on-year in the first quarter of 2015. This was in line with forecasts but the slowest pace since the fourth quarter of 2009 and down from the 7.3% growth achieved in the final quarter of 2014. On a quarter-on-quarter basis, the growth rate was 1.3%, against forecasts of 1.4%. Industrial production figures published on the same day showed industrial output up by 5.6% year-on-year, significantly weaker than forecasts of a 6.9% growth, while Fixed [..]

Asian Session – Chinese slowdown hurts aussie; US dollar recovers

Posted on April 15, 2015 at 7:19 am GMT

Today’s Asian session most important development was that data out of China confirmed that the world’s second largest economy was slowing down. This was more or less expected by the markets and there was some consolation that the annual GDP growth rate did not fall below 7%, but met expectations by coming in exactly at 7. On the other hand, March industrial production and retail sales numbers were worse than anticipated, which could point to a deeper slowdown in coming [..]

Technical Analysis – EURJPY extends lower to fresh 2-year low

Posted on April 15, 2015 at 5:14 am GMT

EURJPY extended lower to reach fresh 2-year lows at 126.08. This was the lowest level since June 2013. The near-term bias is down and next major support comes in at 124.94. The 121.90 level is an important one since it lies at the 50% Fibonacci retracement of the upleg from 94.09 (July 2012) to 149.76 (December 2014 high). A drop below this level could reverse the trend to the downside. To the upside, 130.00 is a significant resistance level. A [..]

European Session – Dollar records steep losses after disappointing retail sales

Posted on April 14, 2015 at 2:33 pm GMT

The US dollar faced heavy selling during Tuesday’s European trading after a disappointing set of economic data as Retail Sales for March missed expectations. Advance retail sales for the final month of the first quarter came in at +0.9% instead of 1.1% expected by economists. This still represented a sharp rebound from a 0.5% contraction the previous month and showed that previous weakness in this particular indicator was likely temporary and weather-related. The retail sales control component, which excludes volatile [..]

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.

News

XM Live Chat