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Top Trade Idea for May 3rd, 2016 – USD/CAD

USDCAD has been trading quite aggressively lower for the last couple of weeks after a decisive break out of an upward channel connected from May of 2015 lows, which is an important evidence for a change in trend. That said, price of USDCAD is likely going even lower as we assume that this is now […]

Gold Punches Above $1300 Level

Gold is steady on Monday, as the metal has paused from Friday’s strong gains. Gold is trading at a spot price of $1295.42 an ounce in the North American session. On the release front, it’s a quiet start to the new trading week. The key event of the day, ISM Manufacturing PMI, posted a weak reading of […]

At $45 A Barrel, U.S. Producers Rush To Lock In Prices

U.S. oil producers pounced on last month’s 20 percent rally in crude futures to the highest level since November, locking in better prices for their oil by selling future output and securing an additional lifeline for the years-long downturn. The flurry of dealing kicked off when prices pierced $45 per barrel earlier in April. It […]

Tokyo Slides On Stronger Yen

A 3-percent drop in Japanese shares and weakness in the banking sector kept financial markets on edge on Monday, although stock markets in both Europe and the United States were on track for some minimal gains. With trading thinned by holidays in London and a number of Asian countries, a solid showing for manufacturing sentiment […]

FX5: New Highs For Gold And Yen As Dollar Struggles

Five things the markets are talking about. It’s a bank holiday shortened trading week for some (China, Singapore, Taiwan, U.K and Ireland), but for others it’s expected to be a busy week. The Reserve Bank of Australia meets this coming week – no change in the overnight rate is expected, nevertheless, the odds have fallen […]

Dollar Sinks to 11-Month Low

The dollar headed for its lowest close in almost a year as signs of slowing growth in the U.S. dimmed prospects for a Federal Reserve interest-rate increase. Stocks fell and commodities extended gains in their best month since 2010. The U.S. currency weakened against 13 of its 16 major peers, while the yen headed for […]

Week Ahead in FX: USD Falls After Fed Holds Gives No Rate Hike Hints

The U.S. dollar is lower against major pairs ahead of employment data. The USD depreciated against major pairs after the Federal Open Market Committee (FOMC) decided to hold rates unchanged in April. The Fed’s patience combined with a shocking inaction from the Bank of Japan (BOJ) on Thursday as Japanese central bank also decided to […]

APAC Currency Corner – RBA’s Turn

AUD We have a huge week ahead in Australia, highlighted by Tuesday’s RBA policy review and Federal Budget IN the wake of last week’s tepid inflation report, Traders have been increasingly pricing in the probability of an RBA rate cut, which now stands at 58 percent as per short-term money market futures. With local lenders […]

It’s Oil That’s Driving This Loonie Rally

It’s giddy times in Canada, with newly installed Prime Minister Justin Trudeau winning rave reviews at home and abroad, the nation’s economy generating some of the best positive surprises in the world and the domestic stock market soaring again. And yet all foreign-exchange traders seem to want to know is what’s the latest price for […]

Top trade idea for April 29th, 2016 – USD/JPY

Contrarian traders lead a miserable existence. Around half the time, their trading peers consider them eccentric. Some of the time they suffer as fools, and at times are cast as dangerous lunatics. This is the price of defying popular opinion. However, for a few days a month, or perhaps a few weeks a year, they’re […]

Oil Price Stable After Some Profit Taking

Oil futures steadied after setting new 2016 highs on Thursday as traders locked in profits, though analysts said supply disruptions, strong investor appetite and a weakening dollar could push prices higher soon. Brent crude futures were trading at $47.21 per barrel at 1329 GMT, up 3 cents from their last settlement and off an earlier […]

Gold Rises as Fed Holds Rates With no Hike in Sight

After three straight years of losses, analysts are finally prepared to say gold prices have found a bottom, with rising prices seen this year and next as concerns over the pace of U.S. monetary policy tightening fade. Gold analysts polled by Reuters have hiked their forecasts for the precious metal by nearly $100 an ounce […]

Europe Shrugs Off Fed and BoJ Disappointment

It’s been quite an eventful 12 hours for the markets and yet, European futures appear unaffected, with equity markets currently seen opening only slightly lower on Thursday. The biggest shock overnight came from the Bank of Japan which resisted the temptation to ease monetary policy further despite all of the pieces appearing to be in […]

APAC Currency Corner – Disappointment reigns

USDJPY remains the primary focus after the pair fell off a cliff on the back of yesterday’s Bank of Japan inactivity while Yen buying dominated the stage. There was also subordinate interest in buying the Aussie in the BoJ aftermath. However, in late New York trade risk assets, including the Aussie, took a turn for […]

US Crude Lower as Crude Inventories Beats Estimate

US crude futures have posted small gains on Wednesday, reversing the upward trend which marked the Tuesday session. US Crude is trading at $44.09 in the North American session. Brent Crude is trading at $45.93, as the Brent premium stands at $1.84. On the release front, today’s highlight is the Federal Reserve’s monthly policy statement. The […]

Top trade idea for April 28th, 2016 – AUDUSD

Back to the AUDUSD pair as it is simply not moving lower no matter what the central bank is doing or how low the CPI can get. The consolidation above is taking place between some very important levels when it comes to the whole retracement and it seems like being a complex correction that just […]

Gold Steady, Fed Rate Statement Next

Gold has posted slight gains on Wednesday, continuing the upward trend which has marked the past two daily sessions. Gold is trading at a spot price of $1248.13 an ounce in the North American session. On the release front, Pending Home Sales looked sharp, easily beating expectations with a gain of 1.4%. Today’s highlight is Federal Reserve’s […]

APAC Currency Corner – The Great Central Bank Debate

Over the past day, markets have mostly entered a holding pattern as investors await the outcome of the latest Fed and BoJ policy meetings.  Despite the Bank of Japan hogging the limelight, it’s the Fed that holds the cards and their presence as de facto World Central Banker will be front and centre. The Mighty […]

D-Day For The FED: Now What?

Five things the markets are talking about. The Fed’s two-day conclave ends today with investors eagerly awaiting this afternoon’s statement (no press conference) for any sign of changes in the FOMC’s thinking on rates. Given that Fed officials have shown sensitivity to financial conditions, and that riskier assets such as stocks and high-yield bonds have […]

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

The focus for much of the week has been on the FOMC statement, which is understandable given the lack of any clear trend for the dollar and especially for the EUR/USD pair. As it has turned out, the Fed left interest rates unchanged as expected but in a surprise move it has removed from its […]