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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 […]

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 […]

WTI Crude – Back Above 104.0 But Fundamental Support For Further Gains Remain Weak

WTI prices behaved as we expected yesterday. Prices tanked after peaking above 104.5 following a surprise bullish push during European session even though there was very little reasons to justify the push. Hence, a reversal was always expected and bears duly responded. The much higher build up in Crude Inventory reported by DOE (+10 million […]

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 […]

WTI Crude Technicals – 104.0 Broken But Follow-Through Suspect

WTI Crude has been staying between 103.0 – 104.0 for most of the entire week, but prices suddenly shot up during early European session, pushing beyond the high of Monday and leading prices to the highest level since 6th March. This gain is certainly surprising given that latest inventory data from the American Petroleum Institute […]

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 […]

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 […]

WTI Crude – Staying Supported Above 103.0 Despite 104.0 Rejection

Bullish pressure on Oil subsided after the Ukraine Government failed to follow-through with the ultimatum which would have brought the eastern European nation closer to war with Russia. With the likelihood of outright war lower right now, it is not surprising to see Oil prices failing to breach 104.0 resistance. Hourly Chart However, prices remained […]

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 […]

WTI Crude – Bullish Momentum Stalling At 104.0 Resistance

Hourly Chart Prices of Oil climbed on escalating conflict in Ukraine, but we remain trading below the 104.0 round figure resistance that has held strongly before sending prices down back to low 103 levels last Friday. Also, prices are trading below the rising trendline, suggesting that bullish momentum that has been in play since 8th […]

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 […]

Natural Gas – Bearish Pressure Lingers Below 4.72

Fresh tension between Ukraine and Russia drove Natural Gas higher recently, allowing prices to break away from the descending Channel that has been in play ever since the break of 4.72 support. However, bearish pressure isn’t over, as we remain below the aforementioned support turned resistance level with Stochastic indicator heading into the Overbought region, […]

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. […]

WTI Crude – Bulls Fully Back In Force

WTI prices is trading above 103.0 round figure once more. Prices were pushed higher by strong risk trends which saw major US stocks indexes clocking more than 1% gains each. The weekly report by Department of Energy was bullish as well, indicating a gain of 4.03 million barrels week on week. This figure is much […]

Has Euro Become a Problem For EZ Growth?

By Boris Schlossberg Market Drivers April 09, 2014 Aussie hits highest mark since November 2013 UK Trade data slightly better, USD/JPY rebounds to 102.00 Nikkei -2.10% Europe 0.42% Oil $102/bbl Gold $1309/oz. Europe and Asia: AUD Westpac sentiment 0.3% vs. -0.7% AUD Home Loans 2.3% vs. 1.7% EUR GE Trade 15.7B vs. 18.0B GBP UK […]

WTI Crude – Staying Buoyant Despite Sharp Inventory Build Up

WTI Prices are back up again due to increased tension between Ukraine and Russia, aided by broad bullish risk trends during yesterday’s US session when stocks snapped a 3 day decline. Prices is now tapering lower but the pace of decline is mild, fitting the bill of a temporary bearish pullback rather than an outright […]

WTI Crude – 100.5 Support Holding Well Despite S/T Bearish Bias

Crude Oil ended up lower yesterday vs Friday’s close, but prices remain broadly supported when placed alongside US stocks where Nasdaq 100 has just seen the largest 3-day slide in 3 years while S&P 500 has completely erased daily gains. The decline in WTI compared to equities is definitely much milder, especially since Crude tended […]

British Pound More Likely to See Rate Speculation in Today’s Data than Later BoE

Talking Points: Dollar Drops Despite S&P 500’s Biggest Back-to-Back Decline in 10 Months British Pound More Likely to See Rate Speculation in Today’s Data than Later BoE Japanese Yen Indecisive After BoJ Hold, Kuroda Not Scheduled to Speak Dollar Drops Despite S&P 500’s Biggest Back-to-Back Decline in 10 Months The correlation between the dollar and […]

Muted Monday As ECB Hesitates to Act

By Boris Schlossberg, Market Drivers April 07, 2014 Nowotny – rate cut a possibility but not yet Nikkei drop creates test of 103.00 in USD/JPY Nikkei -1.69% Europe -.80% Oil $100/bbl Gold $1299/oz. Europe and Asia: EUR GE Factory orders 0.6% vs. 0.1% EUR Retail PMI 49.2 vs. 48.5 North America: AIG Construction Index 46.2 […]

WTI Crude – 100.5 Critical For S/T Direction

Oil prices gained on Friday despite weaker than expected US Non-Farm Payroll numbers. This rally was spurred on due to the ongoing Libyan crisis where rebels have been holding control over 2 oil exporting ports for the past 8 months, with traders/speculators expecting the deal between Government officials and rebels to fall through. However, to […]

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