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Top trade idea for May 27th, 2016 – NZD/JPY

NZD/JPY Anti-trade As a floor trader and market-maker in share options I used to cover 5 stocks actively, and kept an eye on another dozen or so. I was always on the look-out for a free bet – a trade that cost nothing or close to nothing, that had significant upside. In principal, I still […]

USD/CAD Loonie Higher After Oil Price Hits $50

The Canadian dollar navigated a volatile trading day with little data out to Canada to support the currency. American economic indicators were in line with expectations with core durable good orders grew at 0.4 percent and orders including transportation were 3.4 percent higher, but the core data is more telling as it removes the volatile […]

Fed Rhetoric On Markets Radar

Five things the markets are talking about To the neutral observer, it’s not a surprise to see the mighty dollar encountering some profit taking of its recent gains ahead of Fed chair Yellen’s speech tomorrow. The bulk of this week’s USD rise has come from consistent jawboning from the Fed’s team. Will Yellen be as […]

Oil Unchanged, Crude Oil Inventories Posts Sharp Decline

US crude has inched higher on Wednesday, following gains which marked the Tuesday session. Crude is trading at $49.44 in the North American session, its highest level since October. Brent crude is trading at $49.60, as the Brent premium is a negligible $0.16. On the release front, Goods Trade Balance beat the estimate. Crude Oil Inventories surprised […]

Gold Dips to 13-month Lows on Talk of June Hike

Gold continues to lose ground this week. The metal has posted slight losses Wednesday, trading at a spot price of $1220.04 an ounce in the North American session. On the release front, Goods Trade Balance beat the estimate. Crude Oil Inventories surprised the markets with a decline of -4.2 million barrels, compared to the forecast of -1.2 […]

Top trade idea for May 26th, 2016 – USDCHF

I am bullish USDCHF here as no matter how you look at this structure on the daily chart there is only one conclusion that can be drawn: it is a corrective pattern. Not only that it is a corrective pattern, but it should be followed by an impulsive wave so the move that started from […]

EUR/USD – Strong German Business Report Fails to Lift Euro

EUR/USD is showing little movement on Wednesday, following sharp losses in the Tuesday session. The pair is trading at 1.1150. On the release front, German Ifo Business Climate improved to 107.7 points, beating expectations. In the US, we’ll get a look at Goods Trade Balance and Crude Oil Inventories. On Thursday, the US releases durable good […]

USD/CAD Loonie Rises as Bank of Canada Holds and Oil Prices Move After US Inventories

The Canadian dollar had an eventful trading session today. The two main factors that would guide the CAD were: the Bank of Canada (BoC) statement at 10:00 am EDT and the release of the U.S. oil inventories at 10:30 am EDT. The BoC as expected did not change its benchmark interest rate from 0.50 percent. […]

US Crude Steady, New Home Sales Shines

US crude has posted slight gains and is trading at $48.67 in the North American session. Brent crude is trading at $48.90, as the Brent premium is a negligible $0.23. On the release front, US New Home Sales jumped to 619 thousand, well above the estimate. Richmond Manufacturing Sales declined 1 point, missing expectations. US housing […]

Gold Slide Continues on Strong US Housing Report

Gold has posted sharp losses on Tuesday. The base metal is trading at a spot price of $1231.16 an ounce in the North American session. On the release front, US New Home Sales jumped to 619 thousand, well above the estimate. Richmond Manufacturing Sales declined 1 point, missing expectations. Gold has endured a very rough month of […]

APAC Currency Corner – Traders are warming to Fed summer rate hike?

The Greenback continued moving higher on Tuesday on the back of supportive US home sales data, which came in 619k versus just 523k expected, one of the best level seen since 2008. The Aussie – topsy-turvy times There was a moderate nosedive in the Aussie overnight on the back of the RBA’s Glen Stevens, who was making […]

Dollar Moves Handcuffed To Fed Talk

Five things the markets are talking about With “hawkish” Fed rhetoric remaining equities biggest hurdle, coupled with ‘little’ new U.S economic data, the end of the North American earnings season, and significant event risk in the coming month has investor sentiment shifting cautiously in favor of “wait and see.” This approach continues to have a […]

US Crude Drifting at $48, Manufacturing PMI Flat

US crude is showing little movement on Monday, continuing the lack of movement which characterized much of last week. Crude is trading at $47.97 in the North American session. Brent crude is trading at $48.74, as the Brent premium stands at $0.77. On the release front, it’s a quiet start to the week. US Flash […]

Gold Remains Under Pressure, Dips Below $1250

Gold has started the week with small losses, as the metal trades at a spot price of $1246.59 an ounce in the North American session. On the release front, it’s a quiet start to the new trading week. US Flash Manufacturing PMI posted a reading of 50.5 points, short of the estimate of 51.0. On Tuesday, the […]

Europe Remains Range-Bound For Now

It’s been a relatively calm start to the week so far, with Asian markets overnight trading relatively mixed and offering little direction for stocks in Europe ahead of the open. Equity markets appear to be in a state of complete indecision right now and as a result have been left range-bound for the last few […]

APAC Currency Corner – June rate hike countdown

The Aussie With little in the way of fundamental drivers this week, the Aussie should be at the mercy of USD border moves and investor risk sentiment as the markets continue to churn on the heightened prospect of a US interest rate hike. Equity markets ended last week on a firmer note. The S&P500 rose […]

WTI/USD – Crude Touches 7-Month Highs, US Housing Report Shines

US crude is showing little movement on a data-light Friday, trading at $48.96 in the North American session. Brent crude is trading a drop lower, at $48.74. The trading week is ending on a quiet note, as there is just one event on the schedule. Existing Home Sales continued to improve, coming in at 5.45 million. […]

Week Ahead in FX – Fed Minutes Put June Rate Hike Back in Play

Hawkish FOMC Minutes and Strong Data Boost USD The biggest surprise of the trading week came from an unlikely source as the minutes from the April 27 Federal Open Market Committee (FOMC) meeting were published. The notes are published three weeks after the release of the statement and many say it is an outdated practice […]

USD/CAD Weak Canadian Sales Hurt Loonie

The Canadian dollar continues to depreciate against the U.S. dollar after the U.S. Federal Reserve published the minutes from its April Federal Open Market Committee (FOMC) meeting on Wednesday. The notes were surprisingly hawkish and put the June FOMC back on the table as a possibility of a rate hike. The interest rate divergence that […]

Europe Higher but Remains Range-Bound

European equity markets are expected to open higher on Friday, paring Thursday’s losses and rebounding once again off the range lows they have traded within for most of this month. Stock markets haven’t really made any progress so far this month, instead they’ve established a new tight trading range and are simply moving between support […]