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Top trade idea for September 2nd, 2015 – GBP/CAD

Crude oil prices fell sharply on Tuesday, ending their recent good run of form.  After a small bounce back this morning, crude prices came under renewed selling pressure this afternoon following the release of the official US stockpiles report from the EIA which showed among other things a sharp build of 4.7 million barrels for […]

Bitcoin Still Undecided as Range Persists

Bitcoin is still undecided. Prices has been trading in a $5 dollar range today, with a low at $220.75 and a high at $225.50. We are currently quoted right at the highs, $225.49 for one bitcoin. The chart below shows today’s uneventful price action on BTC-E. Let’s take a look at another chart. After a […]

Chart Of The Day For September 2nd ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Finds Support Below 1.12 Figure, Attempts to Resume Recovery Waiting for Signs of Long-Term Down Trend Resumption to Get Short The Euro is attempting to resume the upside correction launched a month ago against the US Dollar having found support above the 1.11 figure. Prices […]

Oil Drops After Weak Chinese Data

Oil prices fell sharply on Tuesday after official data showed China’s manufacturing sector, one of the main engines powering the world’s biggest energy consumer, contracted at its fastest pace in three years. China’s official Purchasing Managers’ Index (PMI) dropped to 49.7 in August from 50.0 in July, reinforcing concerns over the world’s second-largest economy. The […]

Manufacturing in Focus as Europe Seen Lower

European markets are expected to open lower again on Wednesday, following a negative lead from the U.S. and Asia overnight and some disappointing PMI data from China. Chinese growth fears are nothing new although they do continue to weigh on global investor sentiment. The Caixin and official PMI data released overnight for August showed a […]

USD/CAD –Oil Plays Havoc With Loonie Value

It’s easy come easy go for the CAD Loonie remains hyper sensitive to oil prices China data pressures crude prices overnight CAD speculators look to NFP for Fed hike clues Currently, investors are not required to follow Canadian fundamentals to hazard a guess at the value of the USD/CAD. The loonie’s value is caught between […]

US Dollar Drops, Euro and Yen Press Higher Amid Market Turmoil

Talking Points: US Dollar Underperforms as Market Turmoil Boosts T-Bonds, Sinks Yields Euro and Yen Rise on Risk Aversion, Canadian Dollar Corrects Downward British Pound May Advance as Upbeat UK PMI Data Drives BOE Outlook The US Dollar underperformed in overnight trade, falling as much as the 0.3 percent on average against its top counterparts. […]

Bitcoin Calms Down, Next Move Awaited

The bitcoin market has calmed down a bit. In the past 24 hours, we’ve moved within a tight range of 7 dollars and 32 cents. The high is again near the $230 mark at $229.31. The low stands at $221.89, also close to the previous day’s lows near $222. We are currently quoted at $224.10 […]

Chart Of The Day For September 1st ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Drops for Third Day, Aims at Push Below 1.12 Figure Risk/reward Parameters Argue Against Taking Short Trade The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% […]

Oil Lower Due to China Demand Fears and Supply Glut

Oil fell below $49 a barrel on Monday after its biggest two-day rally in six years last week, pressured by a supply glut and renewed concern about a hard landing for China’s economy. International benchmark Brent crude climbed 10 percent last week but was still heading for its fourth straight monthly decline and has risen […]

OPEC Concerned By Oil Drop, Ready To Talk, CAD Rallies

OPEC is concerned by the drop in oil prices – trading near multi-year lows – and is ready to talk to other producers, an article in an OPEC publication issued on Monday said. “Today’s continuing pressure on prices, brought about by higher crude production, coupled with market speculation, remains a cause for concern for OPEC […]

Morning Brief

Even with thin month conditions and a UK holiday today, a very busy week awaits us with rate decisions from the RBA and the ECB, GDP data from Canada and Australia, ending with payroll numbers in the U.S and Canada. Concerns over global growth, the plunge in commodity prices, China’s violent equity markets and its […]

US Dollar Still in Driver’s Seat versus Commodity Bloc

Talking Points: EURUSD remains highly sensitive to shifts in global equity markets. AUDUSD, USDCAD momentum still favor further greenback strength. See the August forex seasonality It’s been over two weeks since we’ve delved into FX markets, and at first glance, it doesn’t seem like much has happened. Yet there is a stark contrast between my […]

Top trade idea for August 31st, 2015 – EUR/USD & GBP/USD

The USD recovered nicely against the EUR last week, clearly with five waves down which means that we are turning bearish again on EUR. However, firstly we need three wave bounce, before we can look for more weakness. Well, price can already be in a correction, but there is room for 1.131-1.1370 before downtrend may […]

Chart Of The Day For August 31st ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Drops for Third Day, Aims at Push Below 1.12 Figure Risk/reward Parameters Argue Against Taking Short Trade The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% […]

Bitcoin Donations at Barclays as Prices Stay Flat

Bitcoin is trading mostly flat today. We opened at $224.84 on BTC-E, then rallied to a high of $228.12. But the gains didn’t last and soon BTC/USD was trading back down to the opening price. Bitcoin eventually closed the session at $224.11, just 73 cents weaker on the day. As can be seen on the […]

GBPUSD – Key Support Broken and Confirmed

On Wednesday we highlighted a key support level for cable that could offer strong insight into the pairs bullish or bearish bias going forward (GBPUSD – Big Test for Major Support). Yesterday we got a bearish signal with the break of that key support, with the 233-day and 21-week simple moving averages being broken, as […]

FED: If In Doubt Leave Well Alone

Ignoring China causes financial pain China reverses yuan slide to head off currency war S Economy looking progressively healthier Investors seek Fed guidance in Wyoming The global investor cannot afford to ignore what’s happening in China. The world’s second largest economy, or first depending on whom you talk to, has a massive impact on global […]

Three Main Takeaways From Fed Fischer’s Speech

1. Central bankers are following developments in China’s economy. Even before China’s stock market began to plunge this week, the U.S. Federal Reserve was questioning its stance on an interest-rate increase planned for some time later this year. Many experts had forecast September as the most likely time frame for the central bank to lift […]

Euro, Pound Eyeing CPI and GDP Data to Shape Jackson Hole Outlook

Talking Points: US Dollar Down Overnight, Swiss Franc Higher on Upbeat 2Q GDP Figures Euro, Pound Eye German CPI and UK GDP Data to Shape Jackson Hole Bets See Economic Releases Directly on Your Charts with the DailyFX News App The US Dollar corrected lower in overnight trade having rallied against most of the majors […]

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