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USD/CAD – Loonie Erases January Losses Ahead of Employment Data

The Canadian dollar rallied versus its American counterpart on Thursday as disappointing data continues to hurt the USD. U.S. unemployment claims recording a rise of 8,000 applications for 285,000 last week when only 2,000 was forecasted. The rise in the number of claims joins both purchasing managers indices (PMI) manufacturing and non-manufacturing, which are leading […]

5 Things The Markets Are Talking About

Credit Suisse shares plunge, oil’s wild ride and it’s Bank of England decision day. Here are some of the things people in markets are talking about today. 1. Credit Suisse plunge Shares in Credit Suisse Group AG dropped to their lowest level since 1991 after the bank posted a loss of 5.8 billion Swiss francs […]

Great Unwind-‘Long’ Dollar Positions Recalibrate

The mighty dollar has been the darling of the forex market for 18-months now, mostly on rate differentials. But has the Fed got it right? So far this year, and after the first Fed rate hike in nine-years last December, the U.S fixed income market continues to price in a Fed policy error. Dealers see […]

USD/CAD – Loonie Rises as US Data Takes Down USD

Disappointing Data Questions Fed Decision to Hike as USD Tumbles The loonie is rising today thanks in no small part to two factors. The softer ISM Non-manufacturing data has slowed down and missed expectations at 53.5. The price of oil continues to rise as Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC are teasing […]

China To Loosen Foreign Capital Flow Rules

People’s Bank of China (PBoC plans to relax rules of withdraw of QFII funds PBOC also to loosen rules on when QFII funds enter the country China’s central bank plans to loosen rules on when foreign investors can bring money in and out of the country, according to people with direct knowledge of the matter. […]

Top trade idea for February 3rd, 2016 – GBP/USD

So weak has been the dollar this week that even the GBP/USD has managed to regain its poise. Clearly, traders are no longer expecting the US Federal Reserve to embark on an aggressive tightening cycle after the central bank had hinted in December at several more interest rate rises when it increased rates for the […]

USD/CAD – Loonie Under Pressure as Oil Tumbles

Mondays CAD decoupling from the price of oil proved to be a mirage. With both West Texas and Brent crude falling by more than 4 percent the Loonie lost ground versus the USD in the Tuesday trading session. The price of oil got a temporary reprieve after rumour circulated (and where fanned by official comments) […]

RBA Maintains An Easing Bias, But With Upbeat View

The Reserve Bank of Australia left rates on hold at +2.00% as widely expected, noting reasonable prospects for continued growth in the economy, with inflation close to target. The RBA retained its view that “low inflation may provide scope for easier policy” but was also more upbeat on domestic economy, “stating expansion in the non-mining […]

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 […]

Top trade idea for February 1st, 2016 – EUR/USD

Trading opportunities for currency pair: the euro/dollar has slid to the trend line. From here we could see a bounce since Monday’s movements usually go against Friday’s. The bounce level will tell us how the sellers are set up. A growth to 1.0938 means we should prepare for a break through 1.0985 and then 1.1025. […]

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 […]

Top trade idea for January 29th, 2016 – AUD/USD

The Aussie Dollar looks like it might be completing a Gartley pattern.  The Gartley is a 3 part correction that sets up for a trade in the direction of the major trend. In this case the correction is a rally, with the major trend being down The Gartley is completed if the corrective rally finishes […]

Oil Proxy CAD Gets A Lift On Russian Comments

Crude market caught short after Russian comments Loonie breaks psychological C$1.40 handle with ease Russian oil minister Novak is crossing on the wires and discussing the proposed OPEC/Non-OPEC meeting. He said Russia is ready to meet in any format. He clarified that the meeting is meant for energy ministers and that no firm agreement have […]

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 […]

USD/CAD Loonie Stable After Dovish FOMC Statement

The U.S. Federal Reserve release its statement after January’s Federal Open Market Committee (FOMC) meeting in Washington. As the market had anticipated there was no change to the benchmark interest rate which remains at 0.50 percent. Since there was no press conference scheduled at after the release of the statement, the document was going to […]

Top trade idea for January 27th, 2016 – USD/CHF

Two weeks ago, we highlighted a constructive candlestick pattern off bullish trend line support on USD/CHF and concluded that the pair could well bounce toward near-term Fibonacci resistance levels at 1.0120 (61.8%) and 1.0210 (78.6%). It took its time getting there, but USD/CHF finally edged up to test the 1.0210 level yesterday, leaving the pair […]

USD/CAD – Loonie Gets Shot in Arm from Rising Oil Prices

The Canadian dollar recovered from yesterday’s losses as it was boosted by the rising price of crude. The rumours of a possible cooperation between Russia and the OPEC have appreciated the price of oil even as Saudi Arabia will invest heavily in its production for the foreseeable future. With little economic indicators the USD was […]

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