XM does not provide services to residents of the United States of America.

News

post-image

Investment Theme – As euro breaks above $1.08, is dollar parity out of the picture?

Posted on March 22, 2017 at 4:38 pm GMT

The euro has appreciated by about 4% from its January lows when it touched a 14-year trough of 1.0340 against the US dollar at the height of the dollar rally. The receding threat of a major advance by populist parties across Europe’s political landscape has propped up the single currency in recent weeks, confounding some predictions made late last year that the euro would hit parity with the dollar as early as in the first quarter of 2017. While uncertainty [..]

post-image

European Session – Majors hit fresh highs against the dollar; Oil plunges on rising stockpiles

Posted on March 22, 2017 at 3:55 pm GMT

In the absence of significant data releases, barring existing home sales out of the US and oil inventory data from the Energy Information Administration, investors mainly focused on political developments and speculative views on potential moves by numerous central banks to place their positions during today’s European session trading. Looking at the dollar index, a gauge of the US currency’s strength relative to major counterparts, it recorded a seven-week low today, reaching 99.56. This was on the back of market [..]

post-image

Technical Analysis – USDCHF bearish bias as the pair hits one-and-a-half month low

Posted on March 22, 2017 at 11:46 am GMT

USDCHF hit a fresh one-and-a-half month low in today’s trading while it is also currently down for the day. Looking at the Ichimoku analysis, the Tenkan-sen line (red) recently crossed below the Kijun-sen (blue). This is a short-term negative alignment which is reinforced by the fact that the RSI indicator is currently in bearish territory at 37. The current level of the Tenkan-sen and the cloud bottom, which roughly coincide with the key parity level, are likely to act as [..]

post-image

Asian Session – Dollar slides as investors fear delay in Trump fiscal plans

Posted on March 22, 2017 at 8:39 am GMT

Risk aversion in the markets led to safe haven demand, helping the yen strengthen and the dollar index fall below 100. Sterling was one of the best performing major currencies after UK inflation rose to the highest in over three years. The dollar fell to its lowest level since November 23 against the yen, reaching 111.25 in the Asian session. The dollar index, which gauges the greenback against a basket of six major currencies, slid to 99.72, trading below 100 for [..]

post-image

Technical Analysis – GBPUSD bullish; Records one-month high

Posted on March 22, 2017 at 8:12 am GMT

GBPUSD extended yesterday’s high for a new one-month high and is currently up for the day, though only marginally. The RSI is bullish at 60 while the MACD histogram is positive and above the red signal line. All these point to a bullish short-term bias. The area around 1.25 has been a congested one in the recent past and could act as resistance to upside movements in price. A move above this area would shift the focus to the February [..]

post-image

European Session – Pound surges to 3-week high after UK inflation breaks BoE’s 2% target; Euro tests $1.08

Posted on March 21, 2017 at 3:01 pm GMT

The British pound was the best performing major currency in Tuesday’s European session as it was lifted from stronger-than-expected inflation data out of the UK. The euro was another star performer as it benefited from positive developments in the French presidential campaign, while the US dollar continued to drift lower. Annual inflation in the UK jumped to 2.3% in February, beating estimates of a milder increase to 2.1% from January’s 1.8%. This takes the headline rate to the highest since [..]

post-image

Forex News – Pound receives major lift after upbeat UK inflation report

Posted on March 21, 2017 at 1:53 pm GMT

Sterling received a boost after above-forecast UK inflation data today, taking it back above the key $1.2400 level against the dollar. Headline CPI accelerated at its fastest pace in more than three years at 2.3% year-on-year in February according to the Office for National Statistics. This was a surprise beat on the 2.1% expected and a sharp rise from January’s 1.8% rate. The measure also shot past the Bank of England’s 2% target. Meanwhile, core CPI ticked up to a [..]

post-image

Technical Analysis – US 30 index bullish above both moving averages

Posted on March 21, 2017 at 1:13 pm GMT

The US 30 stock index is currently up from the day’s open and relatively close to the 21000 level. The short-term bias as shown by the RSI is bullish as the indicator well exceeds the 50 neutral level. Specifically, it is at 66 after coming off from overbought levels in early March. Turning to the Ichimoku analysis, the positive alignment when the Tenkan-sen line (red) crossed above the Kijun-sen (blue) is still in place. This reinforces the positive short-term signal [..]

post-image

Technical Analysis – EURJPY regains upside momentum as it jumps above 121

Posted on March 21, 2017 at 11:26 am GMT

EURJPY is significantly higher today as the pair attempts to regain some positive momentum following a week long slide. Prices rose sharply above the 50-day moving average but met resistance at the 61.8% Fibonacci retracement level of the December-February downleg from 124.08 to 118.23. Further upside moves in the near term are possible as the RSI rose back into bullish territory above 50, though at around 53, the positive bias is not very strong. Should prices extend today’s gains, a [..]

post-image

Asian Session – Euro rallies after French debate; dollar under pressure after Fed speakers

Posted on March 21, 2017 at 8:30 am GMT

The dollar remained soft in Asian trading today as it came under pressure from falling US Treasury yields following not-so-hawkish speeches by Fed officials on Monday. Chicago Fed President Charles Evans diminished hopes for a faster pace of rate hikes after he reiterated the Fed’s message from last week’s FOMC meeting that the pace of interest rate increases will be gradual and the projections were for a total of three hikes this year. Meanwhile, Minneapolis Fed President Neel Kashkari, who [..]

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.