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Euro: Should We Worry About Demands for More Currency Intervention ?

Talking Points: Dollar Advance Stalls as Yellen Comments and Beige Book Chewed Euro: Should We Worry About Demands for More Currency Intervention? British Pound Rallies on Strong Jobs Data, But Not Enough for Next Bull Leg Dollar Advance Stalls as Yellen Comments and Beige Book Chewed With Friday’s liquidity drain closing in, the dollar is […]

US Data Shows Taper is Not Hurting the Economy

By Kathy Lien, Regardless of whether you believe that the Federal Reserve is tapering prematurely, today’s jobless claims report confirms that their process of unwinding Quantitative Easing is not hurting the economy. Exiting from a long period of ultra easy monetary policy is always tricky and if done carelessly could put the entire recovery at […]

Chart Of The Day For April 17th, 2014 – EUR/USD

By Ilya Spivak,  EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high) The Euro is stalling at chart support just below the 1.38 figure against the US Dollar having found resistance near the 1.39 mark. A break below support at 1.3793 marked by the 38.2% Fibonacci expansion on a daily closing basis […]

Why the Euro Won’t Go Down

By Boris Schlossberg , Market Drivers April 17, 2014 Tankan up big in March despite sales tax pressure German PPI continues to deflate Nikkei 0.0% Europe -.22% Oil $103/bbl Gold $1298/oz. Europe and Asia: JPY Tankan 25 vs. 18 AUD NAB Business confidence 6 vs. 8 EUR GE PPI -0.3% vs 0.0% North America: USD Jobless […]

Top Trade Idea For April 17th, 2014 – USDJPY

Time to take a look at the usdjpy pair as this resilience to break lower is leading us to a single possible scenario: running variation of a contracting triangle on the daily chart. This scenario is going to be invalidated only by a move below 100.75 level so this should be the stop loss for […]

Markets mixed as Ukraine conflict quells recent strength

Janet Yellen’s speech provides more of the same Heightened Ukraine conflict raises fears of Russian intervention Potential sanction from west likely to be weak as domestic impact is considered BoJ’s Kuroda maintains accomodative stance and Japan seeks 2% inflation. The European open looks set to be a mixed affair as global indices seem undecided as […]

Pound to Look Past Jobless Claims Data, Dollar Eyes Fed Beige Book

Talking Points: Pound Unlikely to Find Momentum in an On-Trend Jobless Claims Decline US Dollar Rebound May Continue to Pro-Taper Tone in Fed’s Beige Book NZ Dollar Weakens as Soft CPI Erodes RBNZ Bets, Yen Falls as Stocks Rise The March set of UK Jobless Claims figures headlines the economic calendar in European hours. Consensus […]

Top Trade Idea For April 16th, 2014 – GBP/USD

The pound extended its gains this morning following the release of some cheerful jobs data out of the UK. The GBP/USD climbed to an initial high of almost 1.6820, which was the previous 2014 high, while the EUR/GBP nearly dropped to last week’s low of 0.8230. Both pairs then paused for a breather as investors […]

Chart Of The Day For April 16th, 2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high) The Euro has turned lower anew against the US Dollar having found resistance just above the 1.39 figure. Prices are testing support at 1.3793, the 38.2% Fibonacci expansion, with a break below that targeting the 50% level at 1.3758. Near-term […]

UK Unemployment Drops Below 7% – Pound Blasts Above 1.6800

Market Drivers April 16, 2014 UK unemployment dips below 7% Chinese data mixed Nikkei 3.01% Europe .97% Oil $104/bbl Gold $1301/oz. Europe and Asia: CNY GDP 7.4% vs. 7.4% CNY IP 8.8% vs. 9.1% CNY Retail Sales 12.2% vs 11.9% GBP claimant count -30K vs. -30K GBP 6.9% vs. 7.1% GBP Average earnings 1.7% vs […]

British Pound Bulls Fear Weaker Inflation Statistics

Talking Points: Dollar Bounces Along with Yields, CPI a Key Benchmark British Pound Bulls Fear Weaker Inflation Statistics Euro Takes Another Hit as ECB’s Threats Pick Up Intensity Dollar Bounces Along with Yields, CPI a Key Benchmark US equities may have put up a decent rebound to open the week, but that wouldn’t stop the […]

Top Trade Idea For April 15th, 2014 – Gold

Gold – the most emotive of trades is on the slide. The base at $1180 formed at the latter part of last year following a fairly staggering 29% fall in a single year led to a fairly decent recovery in the first quarter of 2014. The failure to move through the $1330/oz level despite rising […]

Chart Of The Day For April 15th, 2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high) The Euro may be carving out a top below 1.39 to the US Dollar after prices put in bearish Evening Star candlestick pattern. A break below support at 1.3835, the 23.6% Fibonacci expansion, initially exposes the 38.2% level at 1.3793. […]

Will Yellen Crush The Dollar?

By Boris Schlossberg, Market Drivers April 15, 2014 UK CPI in line EUR ZEW misses a bit on Ukraine worries Nikkei .62% Europe -.43% Oil $102/bbl Gold $1310/oz. Europe and Asia: GBP CPI 1.5% vs. 1.5% EUR ZEW 43.2 vs. 46.3 North America: USD CPI 8:30 AM USD Empire 8:30 AM Cable saw some early […]

US futures treading water following Thursday’s losses

US futures treading water following Thursday’s significant losses; UoM consumer confidence number key today; JP Morgan and Wells Fargo kick off earnings season for the banks. US futures are treading water on Friday, a day after all three major indices made quite significant losses as investors embarked on another wave of growth stock selling. Ahead […]

Pound at Risk on Soft UK Inflation Data, Euro to Look Past ZEW Outcome

Talking Points: British Pound May Fall as Soft Inflation Data Erodes BOE Policy Bets Euro Unlikely to Find Lasting Volatility in German ZEW Survey Outcome US Dollar May Rise on QE “Taper” Continuity is CPI Tops Expectations The March set of UK inflation data headlines the economic calendar in European trading hours. The headline year-on-year […]

Trade Idea USD/JPY

BUY USD/JPY  10160  TARGET 10245  STOP/LOSS 10070 $JPY has double based at 10135…and because of this…we would now be looking to go into a long position. We can hold longs…adding to 10112 and only reversing if we break below 10065.. A loss of this support would make the market look weaker then to 10028…but oversold […]

Top Trade Idea for April 14th, 2014 – EUR/CAD

While there continue to be mixed signals in the forex market in terms of correlations, there still exist basic technical set-ups.  EUR/CAD being one to consider. EUR/CAD is likely to run into resistance into the 1.5150 area where short positions make sense.  Stops are tight, just above 1.5184 and a downside target of 1.5080   […]

Retail Sales Should be Positive for the Dollar But

By Kathy Lien, This morning’s stronger than expected U.S. retail sales report should have been overwhelmingly positive for the dollar and while we did see the greenback appreciate after the release, it has now given up all of its gains versus the Japanese Yen. Investors have to look no further than Treasury yields for an […]

Chart Of The Day For April 14th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high)

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