30 / 10 / 2015 | Technical Analysis

EUR/CAD: Today’s Major Levels 1.4644 and 1.4534

North American Session
The EUR/CAD pair has been trending down since Thursday, 22th of September 2015. The downward movement began from as high as 1.4905 to as low as 1.4377.
In the scenario that the buyers succeed in pushing the price to break above the level of 1.4644, the price could escalate up to 1.4720 and 1.4905 in extension.
Conversely, in the scenario where the sellers manage to resume their bearish pressures and break below the level of 1.4377, the price could decelerate to 1.4114.  



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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30 / 10 / 2015 | Market News

Dollar remains on the downside after U.S. economic reports

The U.S. dollar remains still on the downside against the other major currencies on Friday, as the release of downbeat U.S. personal spending data added extra fears over the durability of the economy, after Thursday's reports of the Commerce Department that the U.S. gross domestic product developed at an annual rate of 1.5% in the three months to September, lacking expectations for an increase of 1.6%.

The U.S. personal spending rose 0.1% last month, disappointing expectations for a 0.2% rise and after a 0.4% increase in August, based on the U.S. Bureau of Economic Analysis reports on Friday. 

Additionally, on Friday, data showed that U.S. employment costs rose 0.6% in the third quarter and meet expectations.

The greenback had reinforced broadly after Wednesday's Federal Reserve statement, that officials decided to lift interest rates at their December meeting.

Elsewhere, the yen extended its support after the Bank of Japan abstained from adding additional monetary easing measures at its monthly policy meeting on Friday, with the dollar trading lower against the yen, with USD/JPY 0.47% at 120.56.

However, the single currency trade higher than the dollar, with EUR/USD up 0.34% to trade at 1.1014, after the statistical body of the European Union (Eurostat), reported on Friday that the annual rate of inflation in the euro zone was flat in September, compared to expectations for a 0.1% uptick, after a 0.1% dip the previous month.

Data also indicated that the single currency bloc's unemployment rate slipped to 10.8% last month from 10.9% in August, whose figure was revised from a previously estimated 11.0%. Analysts expected the unemployment rate to remain at 11.0% in September.

Sterling was higher against the dollar, with GBP/USD up 0.22% at 1.5343, although the dollar was unchanged against the Swiss franc, with USD/CHF at 0.9900.

The Australian and New Zealand dollars were stronger, with AUD/USD up 0.24% at 0.7091 and with NZD/USD climbing 0.61% to 0.6735.

The Canadian dollar traded lower against its U.S. counterpart and against the euro during the early U.S. trade. USD/CAD hit 1.3193 , up 0.13%, as a result of the Statistics Canada reports that the country's GDP rose 0.1% in August, in line with expectations and down from a 0.3% growth rate the previous month, EUR/CAD climbing 0.42% to 1.4520.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.25% at 97.12, still close to Wednesday's two-and-a-half month highs of 97.89.
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29 / 10 / 2015 | Market News

USD/CAD remains steady once again after mixed U.S. data

On Thursday, the U.S. dollar was almost stable against its Canadian counterpart, as a result of the unsatisfying released of the U.S. economic growth data, while expectations for a U.S. rate hike before the end of the year added support to the greenback.
 
USD/CAD hit 1.3238, adding 0.16% during early U.S. trade with the pair subsequently consolidated at 1.3199. The pair was likely to find support at 1.3085, Wednesday's low and resistance at 1.3334, the high of October 1.
 
The Commerce Department said U.S. gross domestic product grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%. The U.S. economy grew 3.9% in the previous quarter.
 
Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 24 increased by 1,000 to 260,000 from the previous week’s total of 259,000. Analysts had expected jobless claims to rise by 4,000 to 263,000.
 
The greenback had reinforced broadly after Wednesday’s Federal Reserve statement said that officials might make a decision to lift interest rates at their December meeting.
 
The central bank restrained rates on hold at its September meeting amid fears that a China-led slowdown in global growth could affect the U.S. economy.
 
Elsewhere, the Canadian dollar was lower against the euro, with EUR/CAD edging up 0.10% to 1.4425. The single currency found some support after data earlier indicated that the number of unemployed people in Germany reduced by 5,000 this month, better than expectations for a fall of 4,000.
 
The American dollar was steady against the pound, with GBP/USD at 1.5256 and was lower against the Swiss franc, with USD/CHF dropping 0.29% to 0.9914.
 
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.40% at 0.7089 and with NZD/USD edging down 0.12% to 0.6694.
 
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 97.61, close to Wednesday's two-and-a-half month highs of 97.89.
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29 / 10 / 2015 | Technical Analysis

USD/JPY: Today’s Major Zones 121.15 and 120.57

European Session 
The USD/JPY pair has been trending downwards since the 26th of October 2015, with the sellers leading the price from as high as 121.47 to as low as 120.01.

The pair rose aggressively on Wednsday at the level of 121.25 to subsequently fall down to 120.57.Currently, the pair shows signs of stabilisation between the levels of 120.64 and 120.81. In the event that the buyers manage to gain momentum and force the price to break above the level of 120.91, the price could escalate up to 121.47 and 122.36 in extension.

In the opposite scenario, where the sellers manage to resume their downward pressures and push the price below the level of 120.02, the pair could decelerate down to 119.35. 
 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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28 / 10 / 2015 | Technical Analysis

GBP/USD: Today’s Major Levels 1.5289 and 1.5299

European Session
The GBP/USD pair has been moving downwards since Thursday, 22th of September 2015. The downward movement began from as high as 1.5506 to as low as 1.5289.

In the scenario that the buyers succeed in pushing the price to break above the level of 1.5371, the price could escalate up to 1.5398 and 1.5423 in extension.

Conversely, in the scenario where the sellers manage to resume their bearish pressures and break below the level of 1.5289, the price could decelerate to 1.5200.




Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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27 / 10 / 2015 | Technical Analysis

NZD/USD: Today’s Major Levels 0.6784 and 0.6792

North American Session
The NZD/USD pair has been trending down since Friday, 23th of September 2015. The downward movement began from as high as 0.6864 to as low as 0.6785. 

In the scenario that the buyers succeed in forcing the price to break above the level of 0.6815, the price could escalate up to 0.6835 and 0.6864 in extension. 

Conversely, in the scenario where the sellers manage to resume their bearish pressures and break below the level of 0.6761, the price could decelerate to 0.6699.  
 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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27 / 10 / 2015 | Market News

USD/CAD rose 0.47% to trade at 1.3215

The U.S. dollar edge to nearly 4-week highs against its Canadian counterpart on Tuesday, as falling oil prices weighed on the Canadian currency, although the greenback's gains remained limited ahead of the Federal Reserve's highly-anticipated policy statement this week.

On the 29th of September, USD/CAD was at 1.3457 and fall down to 1.2861 on the 15th of October, but during the early U.S. trade today USD/CAD hit 1.3200 during early U.S. trade, with the pair subsequently consolidated to 1.3215, gaining 0.47%.

The Canadian dollar’s renewed weakness was affected by falling crude oil prices. Crude oil futures for December delivery were down 2.55% at $42.88 at the open of U.S. trading.

Looking ahead to Wednesday’s monetary policy announcement by the Fed for fresh indications on the timing of an initial rate hike, in the U.S., the Commerce Department reported on Tuesday that total durable goods orders decreased by 1.2% last month, matching forecasts. 

However, core durable goods orders, which exclude volatile transportation items, fell 0.4% in September, compared to expectations for an increase of 0.1%.

Elsewhere, EUR/USD rise up 0.11% to trade at 1.1067 and the EUR/CAD edged up 0.50% to 1.4615. The U.S. dollar was steady against the sterling pound and the Swiss franc, with GBP/USD at 1.5346 and USD/CHF to 0.9830. The Australian dollar against the U.S. dollar was little changed with AUD/USD at 0.7244.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.15% at 96.77, pulling away from Friday's two-month highs of 97.30.
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27 / 10 / 2015 | General

AFX Capital Participates in the Finance Magnates London Summit 2015

AFX Capital is proud to announce that it will be participating in the Finance Magnates London Summit 2015 on the 2nd and 3rd of November 2015 that it will take place at the Brewery on Chiswell Street. 

The Finance Magnates London Summit is considered to be the largest B2B financial industry event in Europe, with a focus on trading and investing in capital markets, hosting the best financial service providers from all over the world. 

London’s Summit 2015 is taking place for the 4th consecutive year, presenting a unique opportunity for participants to network, discuss about the latest market trends, and discover new strategic opportunities. 

The team of AFX Capital will be presenting the company’s full suite of products and services, while discussing with visitors advantageous ways to invest in financial markets. AFX Capital is proud to announce that it will be sponsoring the Exclusive Closing Party of the Finance Magnates Summit on the 3rd of November in Central London. 

Finance Magnates London Summit 2015 will be signing off with the Finance Magnates Awards Ceremony. 

Interested individuals are invited to visit AFX Capital at the Finance Magnates London Summit 2015 or at www.afxcapital.com
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27 / 10 / 2015 | Technical Analysis

EUR/CHF: Stabilisation Noticed Below 1.0868

European Session
The EUR/CHF pair has been moving upwards since the 23rd of October 2015, with the bulls leading the price from as low as 1.0758 to as high as 1.0876.

Today, the pair stabilised between the levels of 1.0868 and 1.0848, an indication of struggle between the buyers and the sellers. In case that the sellers manage to overweigh buyers in terms of trading volume, they could force the price lower. In the event that they succeed in breaking below the level of 1.0830, profit targets could be set at 1.0817 and 1.0804 respectively.

Alternatively, in the scenario where the buyers manage to resume their previous activity and the pair breaks above 1.0892, the pair could escalate up to 1.0892 and 1.0977 in extension.
 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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26 / 10 / 2015 | Technical Analysis

GBP/USD: Today’s Major Levels 1.5360 and 1.5303

North American Session
The GBP/USD pair has been trending down since Tuesday, 20th of September 2015. The downward movement began from as high as 1.5505 to as low as 1.5303.
In the scenario that the buyers succeed in pushing the price to break above the level of 1.5380, the price could escalate up to 1.5404 and 1.5428 in extension.
Conversely, in the scenario where the sellers manage to resume their bearish pressures and break below the level of 1.5303, the price could decelerate to 1.5200.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
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