News / Page 92

European Session – Dollar falls below 111 yen, loonie hurt by weak Canadian GDP

Posted on May 31, 2016 at 2:58 pm GMT

It was a data packed day, with Eurozone inflation numbers being the main market focus during the European session. The flash inflation estimate for May showed that consumer prices fell for a second consecutive month in the Eurozone and CPI remained negative. Prices fell 0.1% on a yearly basis in May but matched forecasts and was less than the 0.2% year-on-year drop in April. The euro was only briefly pressured after the CPI data and soon resumed its advance from [..]

US consumer spending rises the most since 2009 but dollar little changed

Posted on May 31, 2016 at 2:07 pm GMT

Personal spending in the United States rose at the fastest pace in nearly seven years in April as consumer spending bounced back after a weak first quarter. Personal consumption expenditure increased by 1% month-on-month in April, beating estimates of 0.7%. This was the highest since August 2009 and compares with a downwardly revised rate of 0% in March. Personal income continued to grow at a steady rate in April, maintaining the 0.4% month-on-month rate of the prior month. The figure [..]

Eurozone inflation slightly up but stuck below zero

Posted on May 31, 2016 at 11:22 am GMT

Consumer prices in the 19-country euro area ticked up in May as the decline in energy prices eased slightly. The flash estimate of headline CPI rose to -0.1% year-on-year in May, from -0.2% in April, in line with consensus forecasts. This was the second straight month of declining prices across the Eurozone, and the fourth that prices have not increased. Core inflation, which excludes food and energy items, also moved higher, rising from 0.7% in April to 0.8% y/y in [..]

Asian Session – Aussie jumps on strong data but yen extends slide

Posted on May 31, 2016 at 7:44 am GMT

The yen extended its slide on Tuesday, falling against most of its major counterparts, as it continued to be weighed by rumours of a delay in the planned sales tax hike. Reports from Friday that Japan’s government may postpone next year’s increase in the sale tax have underscored the weakness in Japan’s economy, dragging down the yen. The dollar edged up to 111.22 yen in late Asian trading on Tuesday, while the euro hit a two-week high of 124.13 yen. [..]

Technical Analysis – USDJPY shifts from neutral to bullish above 111 yen

Posted on May 31, 2016 at 7:16 am GMT

USDJPY broke out of its recent range that kept it below 110.57 and the pair rose above this level on Monday to reach a high of 111.44. This strong upside move has shifted the short term bias from neutral to bullish. MACD has just crossed above zero and this favours a bullish outlook. RSI is above 50 in bullish territory. Upside momentum has picked up and RSI is now trending higher, suggesting there is scope for further upside. The next [..]

European Session – Euro firms on strong business survey data; dollar eases

Posted on May 30, 2016 at 2:27 pm GMT

European currencies recovered from the day’s lows as the dollar eased from its earlier highs as the effect of Fed Chair Janet Yellen’s comments on Friday faded. However, activity was muted in thin trading due to UK and US markets being closed on Monday for a public holiday. The euro edged up to 1.1140 dollars in late European session, and the pound reclaimed the 1.46 level against the dollar. The Swiss franc also strengthened as the dollar slid to 0.9920 [..]

Yellen reinforces market expectations of summer rate hike

Posted on May 30, 2016 at 11:56 am GMT

Expectations that the US Federal Reserve could be readying to raise interest rates as early as June gathered pace over the weekend following hawkish remarks from its head. Fed Chair Janet Yellen on Friday added to the growing number of hawkish voices coming out of the Fed in recent weeks, reinforcing market expectations that US rates are likely to go up in the summer. Speaking at the Radcliffe Institute for Advanced Study at Harvard University, Yellen said during a panel [..]

Asian Session – Dollar surges past 111 yen after Yellen says rate hike coming soon

Posted on May 30, 2016 at 8:13 am GMT

The US dollar surged against the yen in Asian trading on Monday as Fed Chair Janet Yellen reinforced expectations that the Fed could be on track to raise rates by the summer. Speaking at Harvard University on Friday, Yellen said that a rate rise would be appropriate “in the coming months”. Her message was repeated by St. Louis Fed President James Bullard on Monday. Bullard said that markets globally were “well prepared” for a June or July rate hike adding [..]

Technical Analysis – Gold at critical 1200 level after falling to 4-month low

Posted on May 30, 2016 at 7:43 am GMT

Gold fell to a four-month low on Monday and is testing a critical level at 1200. The precious metal dipped below 1200 early in the Asian session to 1199.59 for the first time since February, extending a decline from above 1300 at the beginning of May. Gold is now in its fourth week of decline, losing 7% since the 1303.58 peak, and is at risk of turning into a bearish trend. The commodity was in an uptrend since bouncing from [..]

US growth revised higher in first quarter but still weak

Posted on May 27, 2016 at 3:11 pm GMT

Economic growth in the United States was revised higher in the first quarter but was still the lowest in a year. GDP growth was revised up from the advance estimate of 0.5% on an annualized basis to 0.8% in the second estimate. The figure falls just short of forecasts of 0.9% and compares with a rate of 1.4% in the previous quarter. On a year-on-year basis, growth was unchanged at 2.0% during the first three months of the year. 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.

How can we help?

Live Chat Terms

How to Access

Telegram Chat Terms

News