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Dollar Retreats As Rate Hike Pace Questioned

The U.S dollar starts the final month of the year under pressure across the board as dealers and investors prudently price in market expectations of a gradual tightening cycle by the Fed. Currently, it’s considered a forgone conclusion that the Yellen and company will begin their rate normalization policy on December 16. Now it’s about […]

Bitcoin Back to the $350 Handle

Bitcoin is back to the $350 handle after some severe losses in the past 24 hours. When we last left BTC it was testing that previous consolidation near $380 dollars per coin. The inability to stage a successful breakout above lead to a sell-off to $353 on BTC-E. We saw a second leg of selling […]

Top trade idea for December 1st , 2015 – USD/JPY

A decline from 125.80 to 116.15 was made in three waves, so we think that pullback from the last few months was nothing else than just another correction within ongoing uptrend that is in play already since 2012. In fact, reversal up from 116, at the end of August, was sharp so it belongs to […]

Iran Unveiled New Oil Contracts to Attract Foreign Investment

Iran unveiled a new model of oil contracts Saturday aimed at attracting foreign investment once sanctions are lifted under a landmark nuclear deal reached earlier this year, and said U.S. companies would be welcome to participate. The new Iran Petroleum Contract replaces a previous buyback model, in which contractors paid to develop and operate an […]

USD/CAD Loonie Appreciates Despite Lower Oil Price

Canadian Current Account Deficit Shrinks in Third Quarter The Loonie was higher versus the USD after the Canadian current account balance posted a 16.2 billion deficit. The deficit shrank from last quarter’s 16.6 billion. The deficit was expected to improve after the CAD has depreciated against the USD in favour of the Canadian Trade balance. […]

AUDUSD – Rally Continues After Brief Retracement

The Aussie dollar is rallying against its U.S. counterpart again on Monday after undergoing a correction in the second half of last week. The pair broke above the long term descending channel a couple of weeks ago and while the move higher has been far from convincing since, it appears we could see another slow […]

Canada: Q3 Balance of International Payments 2015

Canada’s current account deficit (on a seasonally adjusted basis) narrowed $0.4 billion in the third quarter to $16.2 billion. A lower deficit on trade in goods was partially offset by a higher deficit on cross-border investment income flows. In the financial account (unadjusted for seasonal variation), transactions in direct investment liabilities, largely foreign acquisitions of […]

Bitcoin Bounces at Previous Consolidation

Bitcoin is trading almost unchanged since our last update. Prices bounced right at the consolidation area shown in our yesterday article and headed lower. We are currently quoted at $374.64 dollars per coin on BTC-E. On rival exchange OKCoin we saw prices dip from a high of $382.40 to a daily low of $369.11 dollars. […]

Top trade idea for November 30th, 2015 – GBP/USD

Trading opportunities for currency pair: the monthly candle has closed the previous two months and will be closing down. The target is 1.4560. Due to the general strengthening of USD and according to the cycle, the pound/dollar’s fall could last until the beginning of March 2016. Since the scenario is a weekly one, it could […]

Week Ahead in FX – December to Start With Major Releases

Central Bank Action and NFP to Start the Last Month of the Year The month of December will bring plenty of economic data and monetary policy statements for a currency market that is trading with high levels of uncertainty as geopolitical situations escalate. Next week alone will have the central banks of Australia, Canada and […]

USD/CAD Loonie Lower on Falling Oil Prices

The USD/CAD appreciated 0.617 percent on Friday as the price of oil tumbled more than 3 percent following a stock market rout in China. The currency pair will finish the week trading at 1.3373. Canadian producer prices offered no support to the CAD after falling 0.5 percent on forecasts of a 0.1 percent contraction. Raw […]

Bitcoin Higher but Doubts Remain

Bitcoin is trading strongly higher today and is now within striking distance of the upper breakout point. On BTC-E we opened at $351.59 and slowly gained ground all day, with very little retracement. By the end of the day a price of $363.91 was hit. In the new session we saw a continuation of the […]

UK Economy to Continue to Face Strong Headwinds

While investors in the U.S. do return from the Thanksgiving bank holiday on Friday, we can expect light trade again today with many taking an extra day off and turning it into a long weekend break. That is often the case, particularly when the bank holiday falls so close to the weekend. The quieter schedule […]

UK and Eurozone Data Give Reason For Optimism

UK Consumer Continues to Drive the Recovery in Q3 While the UK has been seeking a more balanced economy with less reliance on the consumer and the services sector as a whole, this was once again the main driver of growth, with rising wages, low interest rates and low energy prices supporting more spending. Weaker […]

Bitcoin Flat in Calmer Session

With two hours to go, bitcoin looks set to close today’s trading session unchanged. On BTC-E we opened the day at $352.47 and bounced between $345 and $355 all day. One coin is currently selling for 352.25 on this exchange. The hourly chart below shows today’s session on BTC-E. As the market calmed down a […]

Bitcoin Up Three Days in a Row

Bitcoin closed higher for third day in a row. On BTC-E we opened at $339.04 and gained $13 dollars to close the session at $352.43. We are currently quoted at $353.76 on this exchange, about $7 dollars below the general USD market. Meanwhile on OKCoin we saw a smaller daily gain of $7 dollars, from […]

Top Trade Idea for 11/27/2015 – Fibonacci says sell EUR/AUD

In a contest between two weakening currencies, who wins? In the current environment, the currency with the largest central bank. I’d back the RBA to box well above its weight, but it’s just not in the same category as the ECB. A continuation of the current downtrend in EUR/AUD seems likely, and even Leonardo Bonacci […]

USD/CAD Loonie Slightly Higher on US Thanksgiving Despite Softer Oil Prices

The USD depreciated 0.0632 percent versus the CAD during the U.S. Thanksgiving holiday. There was little trading volume during the session. The USD/CAD traded in a range between 1.3320 and 1.3280. The Loonie opened weaker versus the U.S. dollar and as the price of oil dropped as the oversupply narrative grew during the day. As […]

ECB Failure Ruins ‘Short of a Lifetime’

In April, Bill Gross said betting on a decline in the value of German government debt offered the trade of a “lifetime.” Thus far, the strategy has failed to deliver anything like the stellar profits anticipated by Gross. But that says less about the market acumen of the world’s best-known bond investor than it does […]

AUDUSD – Evening Star Casts Doubt on Breakout

After breaking above the descending channel that it has traded within for more than a year, the Australian dollar has failed to gather much momentum against the greenback and once again appears to be struggling to push on. I highlighted on Tuesday (AUDUSD – Bullish Breakout Unconvincing) that while the move above the channel should […]

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