News / Page 83

Asian Session – Pound extends losses but stocks attempt a rebound

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

The pound resumed its downward path in Asian trading today following the UK’s referendum last week to leave the EU that led to the British currency plummeting to its lowest since 1985. Sterling was trading 1.7% lower against the dollar at 1.3435 in late Asian session, while the euro was 1.2% firmer at 0.8212 pounds. UK Chancellor of the Exchequer George Osborne spoke for the first time on Monday since Friday’s shock result of the EU vote. Osborne sought to [..]

Technical Analysis – GBPJPY strengthens bearish bias after drop to 3 ½ year low

Posted on June 27, 2016 at 7:22 am GMT

GBPJPY tumbled to a low of 133.19 on Friday, touching the lowest level since December 2012. This fall has strengthened the downtrend that started from 195.87 back in June 2015. Prices have paused their decline to currently trade just above 137.00 as RSI has reached oversold levels but the bias remains to the downside. Upside moves will be limited by resistance at 145.38 (June 16 low) and above this 151.63 is another barrier at the April 2016 low. The technicals [..]

Technical Analysis – UK 100 stock index futures sharply reverses upside bias

Posted on June 24, 2016 at 3:14 pm GMT

The UK 100 stock index futures sharply reversed their week-long rally to hit a 4½-month low of 5668.0 earlier today. This represents a drop of 11.35% from yesterday’s close and is just above the 78.6% Fibonacci retracement level of the February-June upleg from 5446.3 to 6394.0. Today’s plunge took the index back below the 50-day moving average, having only recently recovered above it. RSI has wiped out the positive momentum to fall just below 50, suggesting a shift in the [..]

New uncertainties dawn on markets as “leave” wins in UK referendum

Posted on June 24, 2016 at 3:02 pm GMT

Having pretty much nearly priced in a win for the “remain” camp shortly after polls closed in the historic UK referendum on EU membership on Thursday, June 23, the flow of results during the night started to contradict this general view. In volatile trading, the markets had the giant task of reversing their earlier judgement and price in the “leave” victory, which meant a huge sell-off in the pound and falls in the prices of risky assets. The prices of [..]

European Session – Pound stabilizes after Brexit shock, remains below $1.40

Posted on June 24, 2016 at 2:58 pm GMT

Risk aversion remained dominant during the European session after carrying over from the Asian session as markets were rattled by the news of Britain’s vote to leave the European Union. Consequently, the US dollar was broadly stronger while the safe havens like the yen and gold surged. Sterling remained weak after it plunged to multi-decade lows against the dollar to $1.3224 just before the European session. The pound only slightly recovered in European trading to rise to the $1.37 handle. [..]

Week Ahead – After Brexit, US and Japan data come in focus

Posted on June 24, 2016 at 2:04 pm GMT

Brexit developments will likely continue to dominate the coming week following the UK’s decision on Thursday to leave the European Union. However, upcoming data out of the US and Japan will be closely monitored as it could sway Fed and Bank of Japan policy. Spanish elections could bring more shocks to the Eurozone Hot on the heels of the UK’s leave vote, the EU could face more headache this weekend as Spain heads to the polls for the second time [..]

Asian Session – Sterling collapses as UK votes to Leave the EU; Stocks tumble

Posted on June 24, 2016 at 8:11 am GMT

Financial markets woke to the shock news on Friday that the UK had voted to leave the European Union in yesterday’s historic referendum. The final results of the referendum count showed 51.9% of the British public voted to leave the EU versus 48.1% who voted to remain. The surprise outcome is in contrast to an exit poll out yesterday that put the ‘remain’ camp in the lead. The pound tumbled to its lowest since 1985 as news started emerging that [..]

Technical Analysis – Gold turns bullish after big surge above 1300

Posted on June 24, 2016 at 7:34 am GMT

Gold turned more bullish after a big surge on Friday morning to a more than two-year high of 1358.20. Prices made an 8% jump since yesterday’s close of 1255.13. Gold had started an uptrend since November 2015 when prices bounced from 1046.29 and rose to find strong resistance at the key 1300 level. After trading in a range since February between 1200 and 1300, the market has broken out and is now eyeing the 2014 high of 1392.07. In the [..]

European Session – Risk appetite lifts pound to 6-month high as markets anticipate Remain vote

Posted on June 23, 2016 at 2:52 pm GMT

Sterling did not lose its upside momentum from the Asian session and continued its advance in European trading to hit a fresh six-month high of $1.4945, beating the prior session’s high of $1.4843 before easing back to the $1.47 handle. The market appears to be anticipating a “remain” result from the referendum on the UK’s membership in the EU that is underway today. Risk appetite was boosted by polls showing Remain in the lead. An Ipsos Moris poll published today [..]

Technical Analysis – NZDUSD strongly bullish at one-year high

Posted on June 23, 2016 at 2:07 pm GMT

NZDUSD climbed to fresh one-year highs on Thursday, peaking at 0.7253 before easing to around 0.7225. The pair has been on a steady uptrend since coming off its January low of 0.6346. However, the rally has picked up a gear since the end of May, with prices breaking above the upper Bollinger band on several occasions. All indicators continue to point to strong ongoing upside momentum with the MACD trending up in bullish ground, while there are no signs yet [..]

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