News / Page 61

Technical Analysis – EURUSD consolidates after big rally

Posted on September 7, 2016 at 7:15 am GMT

EURUSD intra-day bias is neutral and the 4-hour momentum indicators have levelled off, indicating that consolidation is likely after a big gain on Tuesday. Prices rose over 100 pips, bringing EURUSD back above the key 1.1200 level. There is still a possibility for more upside momentum as long as the RSI and stochastic indicators remain positive. Looking at the Daily Chart below: To the upside resistance will come in at the 23.6% Fibonacci retracement level of the upleg from [..]

European Session – Dollar tumbles on weakest ISM non manufacturing PMI in six years

Posted on September 6, 2016 at 2:48 pm GMT

Today’s European Session was mostly quiet due to a light economic calendar, leaving major currency pairs range bound. In the US session, the ISM non-manufacturing PMI index was released, and the lower-than-expected number negatively impacted the dollar. In the day’s economic data, second quarter GDP numbers for the Eurozone were not revised as they stayed at 0.3% q/q and 1.6% y/y. Earlier, industrial orders out of Germany disappointed by coming in at 0.2% m/m, versus 0.5% expected. The ECB meeting on [..]

Aussie makes strong gains after RBA strikes neutral tone

Posted on September 6, 2016 at 11:05 am GMT

The Reserve Bank of Australia decided to hold interest rates steady at 1.50% today as outgoing Governor Glenn Stevens attended his last policy meeting. After cutting rates by 25bps for a second time this year in August, few were expecting the RBA to cut again today. However, expectations of another cut later in the year were diminished after the central bank’s statement struck a more neutral tone than in previous meetings. In its statement, the RBA maintained its outlook that [..]

Asian Session – Aussie up as RBA holds rates; crude oil prices steady after Russia-Saudi agreement

Posted on September 6, 2016 at 8:21 am GMT

The Australian dollar was one of the biggest gainers in today’s Asian session as the Reserve Bank of Australia kept interest rates unchanged at 1.5% at its September policy meeting. The decision was widely expected but the absence of any fresh signals to cut rates in the near future helped the aussie hold on to the gains it made ahead of the announcement. The aussie advanced to 0.7636 versus the US dollar just before the RBA’s decision before pulling back [..]

Technical Analysis – USDJPY pauses short-term bounce, holds neutral bias

Posted on September 6, 2016 at 5:00 am GMT

The short-term rally off the key 100.00 yen support level in August was not sustained and USDJPY appears to have peaked at 104.31, which was hit on September 2. Prices are finding resistance at the downtrend line (upper downward channel line) and the near term bias has turned neutral. If trading is sustained above the 50-day moving average around 102.69 and if RSI remains above 50, this could help upside momentum bounce back. Prices would need to rise towards the [..]

European Session – Euro pressured after Eurozone PMI revised down; Oil up sharply on Saudi-Russia deal

Posted on September 5, 2016 at 2:50 pm GMT

Services PMIs for the UK and Eurozone were the highlight of today’s European Session as there was no data out of the US today where markets are closed for Labor Day. The euro came under pressure from a surprise downward revision to the final reading of the Eurozone’s services PMI, while the pound was boosted by a stronger-than-expected recovery in UK services activity in August. The dollar meanwhile continued to drift lower against the yen, hitting an intra-day low of [..]

Sterling extends gains after UK services PMI rebounds strongly

Posted on September 5, 2016 at 12:02 pm GMT

The services PMI in the UK completed the triple whammy of a strong rebound in the PMI readings for August following the dramatic plunge in activity in July in the immediate aftermath of the Brexit vote. Britain’s services sector returned to growth in August according to today’s data from Markit/CIPS. The services PMI beat expectations of 50.0 to jump to 52.9 from 47.4 in July, giving it the biggest month-on-month gain in the series’ history. The strong data adds to [..]

Asian Session – Dollar eases but yen firms as Kuroda fails to give clear signals

Posted on September 5, 2016 at 8:25 am GMT

The US dollar was softer on Monday as it pulled away from Friday’s highs when it rebounded sharply from the brief tumble induced by the weaker-than-expected US jobs report. The dollar dropped below 103 yen after the August non-farm payrolls rose less than forecast, diminishing the odds of a September rate hike by the Fed. However, the figure was not so weak as to rule out a rate rise before the end of the year and the dollar recovered to [..]

Technical Analysis – Gold remains supported above 1300; MACD warns of weakness ahead

Posted on September 5, 2016 at 5:03 am GMT

Gold staged a bullish rally all year, rising from the December lows of 1047 to reach a multi-year high of 1375 on July 11. The market appears to have peaked at this level and has made lower highs since then, although it remains above the key 1300 level, keeping the near term outlook neutral. This is a strong support level as it coincides with the 23.6 Fibonacci retracement level of the upleg from 1047 to 1375. However, prices have fallen [..]

European Session – Dollar recovers NFP losses as rate hike this year still expected

Posted on September 2, 2016 at 2:40 pm GMT

Friday’s European session was mostly quiet due to a light calendar but also because markets were waiting on the sidelines for the first key data of the month– the US nonfarm payrolls report – after a quiet summer. The US dollar initially fell after the all-important data showed fewer jobs were added to the US economy than expected in August. Markets reacted negatively to the headline number as they thought it would make it potentially less likely that the Federal [..]

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