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Euro: Should We Worry About Demands for More Currency Intervention ?

Talking Points: Dollar Advance Stalls as Yellen Comments and Beige Book Chewed Euro: Should We Worry About Demands for More Currency Intervention? British Pound Rallies on Strong Jobs Data, But Not Enough for Next Bull Leg Dollar Advance Stalls as Yellen Comments and Beige Book Chewed With Friday’s liquidity drain closing in, the dollar is […]

Dollar Pares Losses After Upbeat Manufacturing Data and Other Top Forex News.

The dollar recovered ground lost in early trading after the release of upbeat U.S. manufacturing and employment data pointed to underlying strength in the economic recovery. This mornings report from the Federal Reserve Bank of Philadelphia showed that their manufacturing index rose to 16.6 in April, the highest level since September, from 9.0 in March. […]

Why the Euro Won’t Go Down

By Boris Schlossberg , Market Drivers April 17, 2014 Tankan up big in March despite sales tax pressure German PPI continues to deflate Nikkei 0.0% Europe -.22% Oil $103/bbl Gold $1298/oz. Europe and Asia: JPY Tankan 25 vs. 18 AUD NAB Business confidence 6 vs. 8 EUR GE PPI -0.3% vs 0.0% North America: USD Jobless […]

Dollar Steady After Yellen Comments and Chinese Data and Other Top Forex News.

The dollar was mostly higher on Wednesday, after Chinese first quarter growth data came in slightly above estimates, while the Canadian dollar suffered following a dovish rate statement from the Bank of Canada. This mornings data from China buoyed the market, with The Chinese Republic posting a 7.4% gain in gross domestic product for the […]

UK Unemployment Drops Below 7% – Pound Blasts Above 1.6800

Market Drivers April 16, 2014 UK unemployment dips below 7% Chinese data mixed Nikkei 3.01% Europe .97% Oil $104/bbl Gold $1301/oz. Europe and Asia: CNY GDP 7.4% vs. 7.4% CNY IP 8.8% vs. 9.1% CNY Retail Sales 12.2% vs 11.9% GBP claimant count -30K vs. -30K GBP 6.9% vs. 7.1% GBP Average earnings 1.7% vs […]

Gold Technicals – 1,300 Broken As Bearish Momentum In Full Force

Gold prices tanked heavily after the bearish rejection of 1,330 resistance, breaking the 1,315 key level in the process which led to even stronger selling pressure. What is more surprising is the fact that prices managed to breach 1,300 round figure support, resulting in the strongest hourly decline seen since 7th March – when US […]

British Pound Bulls Fear Weaker Inflation Statistics

Talking Points: Dollar Bounces Along with Yields, CPI a Key Benchmark British Pound Bulls Fear Weaker Inflation Statistics Euro Takes Another Hit as ECB’s Threats Pick Up Intensity Dollar Bounces Along with Yields, CPI a Key Benchmark US equities may have put up a decent rebound to open the week, but that wouldn’t stop the […]

Dollar Mostly Higher Despite Inflation Data and Other Top Forex News.

The dollar was trading mostly higher against the other major currencies on Tuesday, despite this mornings inflation data coming in higher-than-expected. This mornings data showed that consumer price inflation rose 0.2% in March, exceeding expectations for a 0.1% gain, after a 0.1% uptick the previous month. With core consumer price inflation, which excludes food and […]

Top Trade Idea For April 15th, 2014 – Gold

Gold – the most emotive of trades is on the slide. The base at $1180 formed at the latter part of last year following a fairly staggering 29% fall in a single year led to a fairly decent recovery in the first quarter of 2014. The failure to move through the $1330/oz level despite rising […]

Will Yellen Crush The Dollar?

By Boris Schlossberg, Market Drivers April 15, 2014 UK CPI in line EUR ZEW misses a bit on Ukraine worries Nikkei .62% Europe -.43% Oil $102/bbl Gold $1310/oz. Europe and Asia: GBP CPI 1.5% vs. 1.5% EUR ZEW 43.2 vs. 46.3 North America: USD CPI 8:30 AM USD Empire 8:30 AM Cable saw some early […]

Gold Technicals – Bulls Failing The 1,330 Test

Yellow metal hit a high of 1,331.26 yesterday, but bulls were unable to hold onto the gains with prices pulling back to 1,325 quickly towards the end of US session. This is not surprising considering that market sentiment was bullish yesterday, draining away the safe-haven flows that has helped prices gaping from 1,318+ to 1,328 […]

Dollar Boosted By Upbeat Retails Data and Other Top Forex News.

The dollar began the week in buoyant mood after the release of stronger than expected U.S. retail sales data for March, offset growing concerns over a slowdown in China and rising tensions in the Ukraine. The official data showed that U.S. retail sales came in 1.1% higher for March, exceeding expectations for a 0.8% gain. […]

IEuro Starts to Slide as ECB Finally Jawbones

By Boris Schlossberg Market Drivers April 14, 2014 Draghi, Noyer all express concern over exchange rate, deflation euro gaps lower Ukraine standoff remains tense Nikkei -.36% Europe -.52% Oil $104/bbl Gold $1326/oz. Europe and Asia: GBP RICS 2.6% vs. 1.6% EUR IP 0.2% as eyed North America: USD Core Retail Sales 8:30 AM USD Business […]

Gold Technicals – Marching Towards 1,330 On Sound Of Ukraine Unrest

Prices climbed up sharply over the weekend, climbing to a high of 1,328 per ounce during the first couple hours of trading on Monday (Sunday evening New York). This gain can be attributed to heightened tension in Ukraine once again where small arms exchanges were made between pro-Russia supporters and Ukrainian police, leading to fears […]

Dollar Steadies After Rough Week and Other Top Forex News.

The dollar steadied after a woeful week on Friday after the release of positive U.S. economic report, but Wednesday’s dovish Fed minutes continue to weigh on the market, limiting gains. This mornings data was enough to steady the ship, with the University of Michigan saying that the preliminary reading of its consumer sentiment index rose […]

Is ECB Digging Its Own Policy Grave?

By Boris Schlossberg , Market Drivers April 11, 2014 Euro rejected at 3900 Chinese, German inflation in line Nikkei -2.38% Europe -.38% Oil $103/bbl Gold $1315/oz. Europe and Asia: CNY CPI 2.5% vs. 2.5% EUR GE Final CPI 0.3% vs. 0.3% GBP LEI 0.4% vs. 0.6% North America: USD PPI 8:30 AM USD U of M […]

Gold Technicals – Testing 1,315 Support

Gold prices have retraced a huge portion of yesterday’s gains after the break of 1,315. However, prices remained above 1,315 with Stochastic readings within the oversold region. This strengthens the significant resistance turned support level, and may be the short-term test/confirmation of 1,315 which we mentioned yesterday. Even in the event that prices does break […]

Dollar Broadly Weaker As Fed Minutes Weigh and Other Top Forex News.

The dollar continued to sell-off on Thursday after yesterday’s minutes from the Federal Reserve’s March meeting indicated that rates are likely to remain on hold for some time, and did not elaborate on a possible timeframe for when rates could start to rise. During today’s session the dollar was lower against most of the major […]

Aussie Hits Fresh Highs, as ECB Runs out of Excuses

By Boris Schlossberg , Market Drivers April 10, 2014 Aussie takes out 9450 as employment data much better Weidemann – we are watching inflation closely Nikkei 0.0% Europe 0.0% Oil $103/bbl Gold $1320/oz. Europe and Asia: AUD 18.1K vs. 7.3K AUD Unemployment 5.8% vs. 6.1% CNY Trade Balance 7.7B vs. -0.9B EUR French CPI 0.4% vs. […]

Gold Technicals – Confirmation Of 1,315 Break Needed For Further Bullish Push

Gold prices fell during European hours yesterday, dipping below 1,300 round figure briefly but managed to stay mostly afloat the level. However, unlike Tuesday’s price action which followed the script given by risk-trends, yesterday’s price action was surely moving on its own accord as the slide occurred when European stocks were less than outright bullish. […]

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