News / Page 256

Asian Session – Euro drops below 1.20 in dramatic fashion; dollar strongest since 2009

Posted on January 5, 2015 at 8:43 am GMT

The euro posted severe losses during Monday’s Asian session – falling to as low as 1.1859 after breaching the key psychological 1.20 support. This was the lowest for the euro since 2006. The euro’s losses were attributed to Draghi’s newspaper interview on Friday, in which he stated his concern about deflation in the Eurozone and hinted at the prospect of action from the ECB. Such action would probably involve government bond purchases. In addition, the euro was hurt by the prospect that an [..]

European Session – Pound falls on UK manufacturing PMI while ISM miss weighs on dollar

Posted on January 2, 2015 at 3:31 pm GMT

The British pound got off to a weak start in 2015, falling to a 16-month low after data showed British manufacturing expanded at a much slower pace than expected in December. If UK economic data is weak, the Bank of England will not likely consider raising interest rates soon. Sterling fell to a low of 1.5385, down from a pre-data high of 1.5546. The euro fell to its lowest in 4 1/2 years against the dollar, touching 1.2007, the lowest [..]

Asian Session – Euro falls to new 2-year low on speculation of ECB easing

Posted on January 2, 2015 at 8:53 am GMT

The first trading day of 2015 saw broad strength for the US dollar. The greenback opened the Asian session with a gap at 120.41 compared to Wednesday’s close of119.85. The pair continued to edge higher to break above the key 120.00 yen to peak at a high of 120.49. Dovish comments from Bank of Japan Governor Haruhiko Kuroda contributed to the yen’s weakness. In a media report on New Year’s Day, the BoJ Chief said the Bank has various tools [..]

Technical Analysis – AUDUSD bearish below cloud, hovers at 4 -1/2 year low

Posted on January 2, 2015 at 7:54 am GMT

AUDUSD has been hovering at 4 – ½ year lows of 0.8086 hit last week. Looking at the daily chart, the falling tenkan-sen and kijun-sen lines are providing a cap to the market. 0.8214 was the recovery high earlier this week. A break below 0.8086 will see the next downside target at 0.7941. This is an important support level as it is where the 61.8% Fibonacci retracement level of the upleg from 0.6008 (2008 low) to 1.1078 (2011 high). It [..]

Asian Session – Aussie rises after Chinese PMI

Posted on December 31, 2014 at 7:46 am GMT

The holiday in Japan and also the year-end ensured an extremely quiet Asian session. The dollar managed to regain some losses made after volatile trading on Monday. It saw a low of 118.85 yen after US consumer confidence data printed a lower-than-expected number. The euro has mostly been trading sideways against the dollar since yesterday’s European session, within a range of 1.2147 and 1.2180. The single currency was not able to benefit too much from broad based dollar weakness as [..]

Technical Analysis – EURUSD tests key support

Posted on December 31, 2014 at 7:14 am GMT

EURUSD is now testing a critical support level at 1.2135. This is the 50% Fibonacci retracement level of the move up from 0.8225 (2000 low) to 1.6038 (2008 high). The pair has turned increasingly bearish after the tenkan-sen line crossed below the kijun-sen line as seen on the daily chart. Momentum is also highlighting the downside bias as the RSI and MACD are both falling and in bearish territory. The big picture is bearish as EURUSD has been falling and [..]

European Session – Gold and yen rise on safe haven demand

Posted on December 30, 2014 at 1:57 pm GMT

Risk aversion and end-of year positioning has led to dollar weakness and a stronger yen. Investors increased their demand for the safe haven Japanese currency due to economic uncertainty in the coming new year and renewed concerns over a Greek financial crisis. The major news of the week so far has been the announcement of snap elections in Greece after lawmakers failed to elect a president on Monday, triggering the dissolution of parliament and general elections in January. The euro [..]

Forex News – Greece elections endanger bailout as anti-austerity party gains popularity

Posted on December 30, 2014 at 9:46 am GMT

Greece has been the focus of the markets ever since Monday when the nation’s parliament rejected Prime Minister Antonis Samaras’s nominee for president, resulting in a call for an early general election next month. Stavros Dimas fell short of the 180 votes needed to become president in the decisive third round of voting, triggering the dissolution of parliament and raised political uncertainty since one cannot know if the result of early elections will be a viable government. Greece could return [..]

Asian session – Euro hits fresh 2-year low on Greece concerns

Posted on December 30, 2014 at 8:05 am GMT

Political uncertainty in Greece sapped risk appetite and the euro slipped to the weakest level in two years versus the dollar during the Asian session on Tuesday. Speculation Greek elections next month may endanger the country’s bailout agreement with the troika led investors to sell off the single currency. The euro made a fresh 27-month low at 1.2123 by late Asian session trading before bouncing as the European session started. It then rose to 1.2170. The euro remains vulnerable ahead [..]

Technical Analysis – USDJPY loses upside momentum

Posted on December 30, 2014 at 7:46 am GMT

USDJPY lost some upside momentum. On the daily chart, the RSI has flattened out and the MACD has sloped downwards. The pair has been in a neutral mode for the past 5 trading days . The tenkan-sen and kijun-sen lines are also flat indicating a pause in the recent uptrend. A break of the December 8 high of 121.84 will confirm the long term uptrend since August. A break below 115.55 would turn bias to the downside. This is the [..]

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