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EUR/JPY Technical Analysis: Rising bets for a visit to 120.80

The cross is extending the leg lower on the back of the pick up in the demand for the safe haven JPY and is now putting the 121.00 handle to the test. EUR/JPY continues to grind lower and is expected to re-test June low in the 120.80 region ahead of YTD lows in the sub-119.00
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Australia: Business conditions eased – TDS

 Analysts at TD Securities suggest that while Australian Business Confidence jumped from 0 to 6 in NAB’s Q2 Business survey, possibly reflecting the election outcome and rate cut optimism, business conditions eased in the quarter (from 4 to 1) with trading, profitability and employment all declining. Key Quotes “There was little to suggest an improvement
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UK PM candidate Hunt: No-deal Brexit would be a political, not economic decision

The UK PM candidate, Jeremy Hunt was out with some comments in the last hour saying that a no-deal Brexit would be a political, not economic decision. Additional quotes:    •  We are much better prepared for a no-deal Brexit than we were before.    •  The EU has never believed that a no-deal Brexit
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Gold technical analysis: Dip-buying to limit any further slide near the recent trading range resistance breakpoint

Gold failed to capitalize on the previous session’s strong up-move and started retreating from over two-week tops, touched earlier during the Asian session on Thursday. Given the overnight bullish breakthrough a one-week-old trading range and the highest daily close since 2013, the set-up might have already turned in favour of bullish traders. With technical indicators
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EUR/USD keeps gains near 1.1240 on USD-weakness

EUR/USD adds to Wednesday’s gains near 1.1250. The greenbacks remains on the defensive on declining yields. Markets’ attention is back to US-China trade. The single currency is extending the upbeat momentum today and is now taking EUR/USD to the 1.1240/45 band. EUR/USD up on trade jitters, USD-selling Spot gained extra steam yesterday on the back
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USD/IDR: Rupiah strengthens despite Bank Indonesia’s rate cut

At its July monetary policy meeting on Thursday, Indonesia’s central bank, Bank Indonesia (BI), slashed its 7-day reverse repo rate by 25bps to 5.75%, as widely expected. The latest Reuters poll showed that 23 of 33 analysts predicted BI will make a 25-basis point trim in the benchmark 7-day reverse repo rate to 5.75% –
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