News / Page 227

Technical Analysis – EURUSD pierces into Ichimoku cloud

Posted on April 24, 2015 at 7:14 am GMT

The intraday bias is neutral for EURUSD, as the pair has been trading within a range of 1.0461 and 1.1051 for the past month. Both the tenkan-sen and kijun-sen have flattened out indicating consolidation is in progress. On Friday prices have attempted to break in to the base of the Ichimoku cloud. RSI has turned back up and is above 50 so if upside momentum holds, there is scope for the rally to last and target the 1.1051 high at [..]

European Session – Dollar weakens after series of soft US data

Posted on April 23, 2015 at 2:34 pm GMT

Sterling had a choppy European session and was pushed back below the key 1.50 level. UK retail sales fell in March, contrary to expectations for a rise. Sales including auto fuel fell 0.5% m/m from February’s 0.6% gain. Forecasts were for 0.4% increase. On Wednesday, the pound rallied on the back of a more hawkish Bank of England minutes, reaching as high as 1.5060. Nevertheless, the uncertainty surrounding the UK’s May elections were likely keeping investors cautious about the British [..]

Eurozone April Flash PMI disappoints but euro periphery outperforms France and Germany

Posted on April 23, 2015 at 10:35 am GMT

A batch of flash PMI surveys for April are out today for Germany, France and the Eurozone as a whole. The data is a key indicator for the markets about the pace of economic recovery in Eurozone member states at a time where analysts will be watching closely the effects of the ECB’s quantitative easing program materializing into sustainable growth while Greek default fears linger in the background. First to be published were the French Markit Flash manufacturing and Flash [..]

Asian Session – US Dollar gains on yield advantage; kiwi, aussie drop

Posted on April 23, 2015 at 7:20 am GMT

The US dollar was well-bid following Wednesday’s strong housing numbers and Wall Street’s rally, which pushed up Treasury yields. This underlined the yield advantage that the greenback is enjoying versus other majors. Gold also fell sharply to around 1185 dollars an ounce because of the rebound in the US dollar and positive risk sentiment. Although there were some indications of an improvement in the atmosphere regarding the Greek debt negotiations, the euro fell below 1.07 once more. German 10-year bond [..]

Technical Analysis – USD/JPY neutral, moving average supports

Posted on April 23, 2015 at 7:07 am GMT

USDJPY found support at its 21-day moving average and also at the 38.2% Fibonacci retracement level of the 115.84 to 122.01 upleg. If current support at 119.67 holds and the market moves higher to break 120.83, then the March 10 high of 122.01 comes into focus. Alternatively, failure to hold above 119.67 would see a deeper retracement. The intra-day bias is neutral but the moving average is sloping down and the RSI also turned back down. The next target is [..]

European Session – Swiss Franc weakens on new SNB rules, sterling higher on hawkish BoE minutes

Posted on April 22, 2015 at 2:15 pm GMT

Sterling was a big mover after rallying against the dollar to a one-month high above 1.50 on the back of a hawkish Bank of England minutes. All nine members of the Bank’s Monetary Policy Committee were unanimous in voting to keep interest rates steady as was expected but what drove the pound higher was the more hawkish tone the minutes held. Some MPC members believed that UK inflation could rise faster-than-expected next year as their outlook for growth in the [..]

Australian CPI data boosts Aussie but paves way for further rates cut

Posted on April 22, 2015 at 12:03 pm GMT

Australian Quarterly CPI data published yesterday showed consumer prices rising at their slowest rate since the second quarter of 2012, with the year-on-year rate falling to 1.3% in the first quarter of the year, sharply down from the previous quarter’s 1.7%. Falling transport/fuel costs was the main factor driving down the CPI. The quarter-on-quarter rate of change was up by 0.2%, unchanged from the previous quarter’s increase. Both figures were within forecasts but the Reserve Bank of Australia’s trimmed mean [..]

Asian Session – Euro steady above 1.07, Australian inflation helps aussie

Posted on April 22, 2015 at 7:00 am GMT

The euro maintained late Tuesday gains after European officials decided not to set a fixed deadline for Greece to come up with the set of reforms needed to release the final tranche of 7.2 billion euros of its bailout program and which needs to be agreed by its creditors. The surprise decision comes as expectations of an agreement being reached at Friday’s Eurogroup meeting were running very low. The Greek government’s decree to take control over the cash reserves of [..]

Technical Analysis – EURGBP falls to lower Bollinger Band

Posted on April 22, 2015 at 6:52 am GMT

EURGBP fell back to the lower Bollinger Band bringing the bias back to bearish. Momentum is also bearish as the RSI is below 50. The intra-day bias is neutral as the pair has been consolidating around 0.7163 and 0.7234. A move below the lower range would open the path towards the March low at 0.7013. Alternatively a bounce higher could see at retest of 0.7384. The overall outlook is bearish and the downtrend from 0.8037 (November 2014 high) is still [..]

European Session – Euro fails to regain 1.07 handle as Greece concerns weigh

Posted on April 21, 2015 at 2:08 pm GMT

Rising concerns over a Greek debt default weighed on the euro which recorded a second day of losses against the dollar on Tuesday. The latest news was that the ECB was considering curbing Greek banks’ access to liquidity which essentially will be done through a cut in the ELA (Emergency Liquidity Assistance) if the Greek government fails to deliver on reforms needed to unlock bailout funds. Friday’s Eurogroup meeting is a crucial date when an agreement is expected to be [..]

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.

News

XM Live Chat