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Canada: Building permits, December 2015

The total value of building permits issued by Canadian municipalities rose 11.3% to $6.9 billion in December, following a 19.9% decline the previous month. Higher construction intentions for multi-family dwellings in Quebec, Ontario, British Columbia and Alberta explained the advance. Construction intentions in the residential sector increased 16.3% to $4.7 billion in December, following a […]

FX Markets Continue To Debate FOMC’s Policy Trajectory

Jan-worst opening month for global equities in 7-years Feb 3-worst day for the dollar in 7-years Recent dollar move would usually be associated with a Fed policy move Is the market pricing in a policy error by Fed? Last week saw the ‘buck’s’ biggest weekly decline against the dollar index in seven-years (-3%). Even U.S […]

US Adds 151,000 Jobs, Unemployment Rate Falls To 4.9%

Job growth settled into a more sustainable pace in January and the unemployment rate dropped to an almost eight-year low of 4.9 percent, signs of a resilient labor market that’s causing wage growth to stir. The 151,000 advance in payrolls, while less than forecast, largely reflected payback for a seasonal hiring pickup in the final […]

Top trade idea for February 5th, 2016 – EUR/JPY

The European Central Bank versus the Bank of Japan – who will win? Both are pursuing a “competitive devaluation” strategy through monetary stimulus, both desperately need the boost a lower currency can deliver to their respective economies. Over the last 7 months, the ECB has the edge, but that may change very soon. The BoJ […]

February Is An “Air Pocket” For Central Bankers

Feds normalization path complicated by the actions of other CB’s Saudis deny report of coordinated output cut Investors will have to go it alone this month. Despite February being the shortest calendar month of the year it could feel a rather long one with no directional guide from any of the major central bankers (the […]

Week in FX BOJ Shock to Pressure Central Banks

The Bank of Japan Cut Interest Rates into Negative Territory Putting Other Central Banks on the Spot The Bank of Japan (BOJ) announced that it would apply a negative 0.1 percent rate to excess reserves starting February 16. The policy decision is a token as it would only apply to a limited set of funds, […]

5 Things That The Market Is Talking About

The Bank of Japan goes negative, stocks go positive and tons of U.S. data is coming out. Here are some of the things people in markets are talking about today. 1. BOJ goes negative In a surprise move, the Bank of Japan announced that it is adopting a negative interest-rate strategy while maintaining the pace […]

5 Things The Markets Are Talking About

Markets react to the Fed, Abe loses economy minister and an earnings extravaganza. Here are some of the things people are talking about in markets today. 1. Fed reaction Emerging markets advanced in the aftermath of yesterday’s Fed statement which acknowledged global risks, reassuring investors that the pace of rate hikes could be slow. The […]

FED And RBNZ Done, Now Focus On BoJ

Global indices trade mixed as investors continue to digest yesterday’s Federal Open Market Committee (FOMC) policy statement while preparing for tomorrow’s Bank of Japan (BoJ) announcement. Thus far, Ms. Yellen and company seems to have navigated successfully through some difficult objectives. The Fed had a somewhat tough task of acknowledging global market turmoil since last […]

Top trade idea for January 28th, 2016 – USDJPY

This USDJPY scenario is based on the fact that any three waves structure as a flat pattern needs to retrace minimum 61.8% and this retracement means that we should see another move above 121.34, where the mentioned level stays. It is difficult to imagine what would cause the spike there but we as technicians are […]

Fed: What to Do Or Say?

A Federal Open Market Committee (FOMC) rate announcement would usually be the highlight of any week. But this go around, it’s looking to play second fiddle to the Bank of Japan (BoJ). The Fed is expected to stand pat come Wednesday, while the BoJ decision on Friday may announce another round of monetary stimulus. With […]

Top trade idea for January 21st, 2016 – EURJPY

Ahead of the ECB we are looking at the eurjpy cross as it is finding itself in a very interesting spot in the sense that a contracting triangle on the daily chart should form. This contracting triangle already has three legs completed, namely waves a, b and c and now we should move above 140 […]

Top trade idea for January 18th, 2016 – CAD/JPY

Trading opportunities for currency pair: the CAD/JPY is stuck in a bear trend due to the Chinese stock market crash and a fall in oil prices. If you’re looking to sell the Canadian, then 81.15/30 is your marker. After a rise of the rate to 82.43 we should stave off selling. Whilst the oil and […]

US Retails Sales Fall To Weakest Level In 6-Years

Sales at U.S. retailers declined in December to wrap the weakest year since 2009, raising concern about the momentum in consumer spending heading into 2016. The 0.1 percent drop matched the median forecast of 84 economists surveyed by Bloomberg and followed a 0.4 percent gain in November, Commerce Department figures showed Friday in Washington. For […]

5 Things What The Market Is Talking About

No respite for oil, China defends the yuan, and Goldman says there will come a time to buy stocks. Here are some of the things people in markets are talking about today. 1. Volatile oil Both WTI and Brent crude dropped below $31 a barrel this morning before recovering to trade at $31.25 and $31.62 […]

Top trade idea for January 6th, 2016 – USD/JPY

The sell-off in stocks and oil markets has seen the safe haven US dollar rise against most major currencies, except the Japanese yen. The reason for this is because the yen is currently deemed more of a safe haven currency than the dollar. But as we have mentioned consistently this week, sentiment could turn very […]

5 Things The Market Is Talking About

Chinese stocks crash, tensions between Saudi Arabia and Iran are on the rise, and euro-area manufacturing grows at its fastest rate in 20 months. Here are some of the things people in markets are talking about today. 1. China stocks Trading in Chinese shares was halted for the day at 1:34 p.m. local time after […]

Deja Vu: Markets Fall To Open 2016 As Risk Aversion Dominates

Global financial markets in 2015 were pulled between two opposing forces: The first was the Federal Reserve’s determination to raise interest rates as the U.S. job market strengthened. The second was pressure for lower interest rates in much of the rest of the world as China’s economic growth slowed and commodity prices sank. These two […]

Top trade idea for December 31st, 2015 – EURJPY

This EURJPY chart is quite complicated as it it taking into account a scenario that calls for a zigzag to start the c wave to the downside. It is complicated because of the structure of wave b in magenta as it seems to end with an impulsive move with a failure of a lower degree. […]

USD/JPY – Unchanged as Yen Continues to Hug 120

USD/JPY is steady on Monday, as the yen trades at 120.20 in Monday’s North American session . In economic news, Japan published this week’s indicators on Sunday. Retail Sales disappointed with a reading of -1.0%, and Preliminary Industrial Production posted an identical figure. There are no US releases on Monday. Japanese Retail Sales, the primary […]

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