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USD/CAD Loonie Extends Losses as Brexit and Lower Oil Prices Put Downward Pressure

The Canadian dollar is trading lower versus the USD on the first trading session of the week. The volatility felt in the markets since the exit polls started pointing to a Leave win on the EU UK referendum continues as three out of the three main attractions to the European Central Bank (ECB) Forum in […]

Brexit Buries Sterling to New Low

Five things the markets are talking about The U.K vote to leave the EU will obviously dominate the summits of European heads of government and global central bankers this week. Beginning today, central bankers gather for at a three-day meet in Portugal. What many may have considered a boring topic “The Future of the International […]

Top trade idea for June 27th, 2016 – USD/CAD

Trading opportunities for currency pair: After the UK referendum, the USDCAD tested the solidity of the trend line. The target zone is 1.3288 – 1.3397. The upper line of channel one passes through it. We just need to wait for the price to strengthen above channel 2 and the trend line. Growth to cancel with […]

USD/CAD Loonie Stable After Brexit Shock as Oil Retreats

The Canadian dollar plunged after the Brexit news hit the markets. Risk aversion triggered a demand for safe haven assets like the USD, JPY, CHF and Gold. The CAD was under pressure as oil depreciated and the USD rose as the full economic impact of the British vote is still uncertain. Canadian Prime Minister Justin […]

UK Chooses Sovereignty in Shock Referendum Result

It’s been a truly historic night for the U.K as it appears that the people have voted to leave the E.U. after a number of news channels confirmed that a win for remain is all but impossible. This comes after financial markets were convinced that the result would be a comfortable win for the remain […]

APAC Currency Corner – Another financial meltdown on the cards?

Post-Brexit vote, the debate has centred on whether it will be the catalyst for another Lehman Brothers-style meltdown. While there’s a lot of dust still to settle, central bankers are ready and willing to use whatever tools necessary to calm investor’s nerves and avoid a global meltdown. While markets were extremely volatile on Friday, trading was […]

UK Voters Take Country Back- Now what?

It’s not official, but statistically called by all major pundits, U.K has voted to change the course of their own country and leave the European Union (52% Leave, 48% Remain). Their decision has sent the pound into free-fall (£1.3400), back to its 1985 levels outright and is battering global equity markets (Asia is down-3%). Investors […]

Top trade idea for June 24th, 2016 – EUR/GBP

After the UK’s surprise vote in a referendum to leave the European Union, the fall out is significant. GBP fell 15 big figures (FIFTEEN!) against the USD in 5 hours, share markets were smashed and gold rallied $100 an ounce. And they’re just the first blush reactions. Surprisingly, the EUR has held up quite well. […]

Gold Jumpy Ahead of Brexit Outcome, US Jobless Claims Dip

Gold has moved in both directions on Thursday, but has shown little net movement over the day. The metal is trading slightly above the $1260 level in the North American session.  On the release front, US numbers were a mix. US unemployment claims slipped to 259 thousand, below expectations. However, New Homes Sales dropped to 551 […]

Sterling Hits 2016 Highs on Brexit Referendum Day

The day of the Brexit referendum has finally arrived and investors are understandably cautious ahead of what could be a turbulent end to the week. European equity markets are expected to open a little lower this morning following a subdued session in Asia overnight and some selling in the afternoon in the US on Wednesday, […]

APAC Currency Corner – It’s a crap shoot

The votes are in and the counting is well and truly under way in the UK’s referendum on EU membership. Early results are reflecting blue-collar (leave) sentiment while white collar voters are due later. Markets are like a coiled spring waiting eagerly for the first sniff of an outcome. The market’s overall lean continues to price […]

In or Out, D-Day for Sterling

Five things the markets are talking about The long wait is over. Voting stations are open and U.K citizens go to the polls to decide whether they want to be apart of the E.U or go it alone. In the meantime, investors should expect rumors and whispers to have capital markets on the edge right […]

Oil Rises Further Above $50 on API Report

Oil rose further above $50 a barrel on Wednesday after an industry report showed a large drop in U.S. crude inventories, with analysts expecting volatile trading ahead of Britain’s referendum on EU membership. U.S. crude inventories fell by 5.2 million barrels, the American Petroleum Institute (API) said on Tuesday, far more than analysts expected. Official […]

Gold Rush to End Whether or Not UK Votes to Exit

Gold’s sharp gains on uncertainty over Britain’s European Union membership are likely to come to an end, regardless of whether Britons vote to leave or remain in Thursday’s referendum. Prices XAU= hit their highest since August 2014 last week as the $5-trillion a year gold market rose with other “safe” assets, such as German bunds, […]

Top trade idea for June 23rd, 2016 – EURJPY

In light of the EU referendum that is taking place today in the UK and considering the volatility that is about to come, the logic is to trade a cross as to avoid any US dollar pair as the dollar is perceived as a safe heaven in situations when uncertainty reigns over markets. That being […]

USD/CAD Loonie Lower as Oil Falls Ahead of Brexit Vote

The Canadian dollar traded lower on Wednesday as voters in the UK prepared for the UK EU referendum and oil prices dropped after inventories in the U.S. did not fall as much as expected. The CAD had recovered some ground after the tide of Brexit seemed to swing to favour the Remain side and risk […]

Brexit Polls and Markets Disagree

Britain entered the final day of campaigning before its referendum on European Union membership with opinion polls and financial markets at odds about the outcome. Investors are piling money into bets on a victory for the “Remain” campaign, led by Prime Minister David Cameron, in Thursday’s plebiscite. The pound has surged to a five-month high […]

Top trade idea for June 22nd, 2016 – USD/JPY

In 15 hours or so, the voting will begin and soon we will find out whether the UK public has chosen to remain or exit the EU. As you would expect, politicians are making their final pitch for votes on the last day of campaigning as they try to win support of those still undecided. […]

Oil – Crude Trades Under $50 as USD Recovers

US crude has posted small losses on Tuesday, following gains on the Monday session. WTI Crude is trading at $49.29 in the North American session. Brent crude is trading just above the $50 level, at $50.03, for a premium of $0.72. On the release front, there are no economic releases for a second straight day. […]

Gold Slips Ahead of Yellen Speech

Gold has posted considerable losses on Tuesday, after showing limited movement in the Monday session. Spot gold is trading at $1268.76 per ounce in the North American session, marking a 10-day low. In economic news, there are no US economic releases for a second straight day. The markets will be listening closely to Federal Reserve […]