The euro erased some losses from Friday’s sharp decline and managed to move back above the key 1.2400 level in early European session trading on Monday. The rebound followed data from the German Ifo Institute that indicated German business confidence rose for the first time in seven months in November. The Ifo Business Climate Index […]
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Latest Forex Trading Articles
The euro reacted negatively to lower-than-expected PMIs out of the Eurozone. The flash Eurozone composite PMI published by Markit fell to 51.4 in November from 52.1 in October. This is the lowest since July 2013. The disappointing PMI data will likely be a concern to the European Central Bank and would set the stage for […]
A (source: Markit) A series of business surveys that were released out of the Eurozone today indicated recovery in the area lost steam in November, fuelling concerns over another recession. Business growth was weaker-than-forecast this month and new orders have fallen for the first time in more than a year. The Purchasing Managers’ Index published […]
On Wednesday the Bank of Japan released a monetary policy statement which showed the central bank’s massive stimulus program was kept unchanged as widely expected. The BoJ committed to continuing its massive stimulus measures by purchasing more government bonds in order to increase the base money at a pace of 80 trillion yen a year. […]
The dollar was a little lower versus the euro and stable against the yen, as there were rumors that the Japanese Prime Minister could call early elections and announce a postponement to the sales tax hike as early as today. Dollar / yen was trading around 116.64 and was relatively close to the 117.06 7-year […]
EURUSD kept its recovery and remained above the key 1.2500 handle today. The pair extended higher to 1.2576 but was unable to sustain the rally. Support is seen at 1.2500 while resistance is at 1.2600. In the bigger picture, EURUSD is in a bearish trend. The market has formed lower lows and lower highs since […]
Currency trading was relatively range-bound during Thursday’s European trading as there was also little in the way of major news to give a definite direction to the market. The yen managed to push the dollar back a bit to around 115.50 from 115.80 earlier in the day, as it seems traders are hesitant to try […]
The Nikkei 225, Japan’s benchmark stock index, has posted a very impressive rally of more than 20% since its mid-October low. Part of that rally reflected the rebound in global equity markets after a brief correction and part was mainly related to the additional stimulus the Bank of Japan decided to provide on October 31st. […]
The XM Team led by CEO Costas Cleanthous were in China for this year’s Shanghai International Money Fair 2014 which took place between the 31st of October and the 2nd of November. We were happy to meet traders from all over the region and to catch up with some of our existing clients and partners […]
Our massively popular Abu Dhabi F1 Grand Prix competition that started on the 27th of September has now ended, and the results are in. We are happy to announce the lucky winners below: Position Name Country Prize 1st Hassan Awad United Arab Emirates 2 tickets to the Abu Dhabi F1 Grand Prix 2014 including accommodation […]
The euro dropped below the 1.24 handle, the lowest since August of 2012 on promises that the ECB stood ready to do more and a reaffirmation of the willingness to significantly increase its balance sheet. The yen also capitalized on the euro’s weakness, driving euro / yen back under 143 to 142.53. The US dollar […]
The price of sweet blend crude in the United States has fallen below the $80 level which could signal the reduction in production from certain of the costlier methods of oil production. Oil has been in a downtrend since early June, dropping from the 107 level all the way down to 75.90 – a drop […]
The New Zealand dollar, previously one of the best performing major currencies of the year until mid-July, has faced serious selling pressure against the US dollar during the past 4 months and it has lost more than 11 cents during this period. According to the Ichimoku analysis, the prospects for the kiwi / US dollar […]
The Australian dollar was sold aggressively against the US dollar in August and September, after holding a relatively narrow range between 92 and 95 cents for the previous 5 months or so. The aussie’s slide stopped at 0.8642, which was very near the January 0.8659 low but a fresh 4-year low nonetheless. Currently the aussie […]
USDJPY maintained its upward momentum to rally strongly towards the key 113 yen level. A daily close above this would add to the upside potential and open the path toward 113.70 – This is the 78.6% Fibonacci retracement level of the downleg from 124.12 (June 2007 high) to 75.55 (October 2011 low). RSI is in […]
The US dollar held onto gains today following upbeat US third quarter growth numbers. The advance reading of GDP rose at an annual rate of 3.5% between July and September, which beat forecasts by 0.5%. The main driver behind expansion in Q3 was a jump in military spending, (the highest in 5 years) and solid […]