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Oil Prices Fall After Iraq Wants Exemption from OPEC Limits

Oil prices fell on Monday as Iraq said it wanted to be exempt from an OPEC deal to cut production, though losses were capped by Iran saying it would encourage other members to join an output freeze. Brent crude futures LCOc1 were down 45 cents at $51.33 a barrel by 1340 GMT. U.S. West Texas […]

Gold Lower After Strong US Data Validates December Hike Expectations

Gold prices reversed gains Monday, as strong U.S. economic data bolstered the case for the Federal Reserve to raise interest rates in coming months. Gold for December delivery was recently down 0.3% at $1,263.90 a troy ounce on the Comex division of the New York Mercantile Exchange. Prices were as high as $1,272.80 a troy […]

The Dollar Beat Goes On

It was a very subdued session in both equities and currencies in Asia yesterday where range trade was the order of the day. The US dollar continued consolidating and exhibited some weakness in London, but the greenback ticked higher after a cheery report on the manufacturing sector when the US manufacturing PMI for October comfortably beat […]

Dollar Bulls Await Fed Speakers Support Today

Five things the markets are talking about With less than three-weeks until the U.S. elections, concerns over a “hard” Brexit and earnings season underway, is expected to see market volatility slowly pick up. Despite current U.S election polls indicating that Ms. Clinton is consolidating her Democratic lead over Trump, there are number of risks: A […]

WTI/USD – US Crude Stops Slide After Russia Reiterates Support for Cap Freeze

US crude has posted small gains in the Friday session. Currently, WTI/USD futures are trading at $50.84 per barrel. Brent futures are trading at $51.79, as the Brent premium has narrowed to $0.95. On the release front, it’s a very quiet end to the week. The sole US event is a speech from FOMC member Daniel […]

Week Ahead US Growth to Boost Dollar

December interest rate hike optimism has lifted the USD to 8 month highs Fed member comments and economic indicators showing sustained growth have convinced investors that the U.S. Federal Reserve will raise the Fed funds rate when its meets at the end of the year. The CME FedWatch tool is now at a 70 percent […]

Fed Speeches Headline Quiet Day

US equity markets are expected to open a little lower on Friday, building on small losses on Thursday with indices still looking vulnerable to sharp declines even as earnings continue to surpass expectations. Once again it seems any rally off the lows in US indices doesn’t have the legs to go beyond the previous highs […]

Currency Markets in a Flux

Australian Dollar The broader risk-off move that kicked in late last week has triggered currency sell-off in the EM complex while weighing negatively on high-risk currencies such as the Australian dollar. Add in the greenback   flexing its muscle on the back of mounting US rate hike speculation, and  it’s clear why the Aussie is […]

Top trade idea for October 21st, 2016 – USD

Markets appear to have made up their mind about the US election. The US Dollar/Mexican Peso exchange rate is back to its medium term trend and looks a chance of falling below it in coming weeks Traders have adopted Dollar /Peso as an election trading proxy because Donald Trump’s policies are seen as damaging theMexican […]

Gold Volatility Higher After ECB Lack of Updates

Gold in euro terms saw increased volatility Thursday after European Central Bank President Mario Draghi did not provide any guidance on a potential expansion of the monthly bond-purchase program. The comments came after the ECB left interest rates unchanged. “We didn’t discuss tapering or the horizon of purchase programs,” he said during the question and […]

Draghi Strongly Hints at December QE Decision

We may have seen plenty of volatility throughout the ECB press conference today but in reality, all Mario Draghi and the ECB actually did was confirm what most people already assumed. What was most interesting today was not what the ECB did discuss – which appears to have been very little – but what they […]

Investors Buoyed by Debate, Attention Now on ECB

A missed opportunity for Donald Trump at last night’s final Presidential debate may well be supporting US futures ahead of the open on Thursday, while European markets are currently treading water ahead of the ECB monetary policy decision and press conference. Trump headed into the final debate trailing Clinton in a number of polls and […]

Shooting Stars to Falling Stars

Markets  are focusing on the US economic data flow and the latest musing from the ECB ECB Draghi did more to cloud the picture rather than provide any clarity into the ECB thoughts. Allowing committee members more breathing room, which offers more opportunity to view the market reaction to the ECB tapering “sounding balloon “ […]

Top trade idea for October 20st, 2016 – AUDNZD

Above there is the AUDNZD cross that is shaping up a bearish setup that most likely started with the last move above 1.07. The idea behind this trade is that the current move should be one destined for parity, so it should be no wonder the take profit is close to that area. Trading with […]

Oil Gets Ready To Move…Down?

Tonights EIA Inventory figures will have more importance to crude oil’s direction than the 3rd Presidential Debate. We look at a couple of possible storm clouds that may spoil oil’s party. West Texas Intermediate has spent the last week consolidating in a roughly 49.50/51.00 range. The pace of OPEC “we can do it” headlines have slowed, […]

XAU/USD – Gold Hits 2-Week High as Housing Starts Sinks

Gold has posted slight gains on Wednesday, continuing the upward trend we’ve seen all week. In the North American session, the metal is trading at a spot price of $1268.90 per ounce. On the release front, Building Permits jumped to 1.23 million, beating the forecast of 1.17 million. However, Housing Starts slipped to 1.05 million, well […]

Presidential Debate and Fed Speeches Key Today

US equity markets are expected to open a little lower on Wednesday, tracking similar marginal losses in Europe as traders look ahead to the third Presidential debate, appearances from Fed policy makers, earnings and oil inventory data. Markets have been very responsive to how the election campaign has gone so far, particularly those most vulnerable […]

Market Focus on Commodity Currencies

Australian Dollar Rockets Higher  Equity markets have posted further gains over the past 24 hours, spurred on by the rally in oil markets when WTI came within a hair of $ 52.00  per barrel, posting a 15-month high at 51.94 on the back of the massive inventory draw on the DOE data. Commodity currencies, championed […]

WTI/USD – US Crude Steady at $50, Crude Oil Inventories Next

US crude has ticked lower in the Tuesday session. In North American trade, WTI/USD futures are trading at $49.84 per barrel. Brent futures are trading at $51.38, as the Brent premium stands at $1.54. On the release front, US CPI edged upwards to 0.3%, matching the forecast. Core CPI dipped to 0.1%, shy of the forecast of […]

XAU/USD – Gold Posts Slight Gains, Inflation Numbers Mixed

Gold has shown slight gains in the Tuesday session. In North American trade, the metal is trading at a spot price of $1261.02 per ounce. On the release front, US CPI edged upwards to 0.3%, matching the forecast. Core CPI dipped to 0.1%, shy of the forecast of 0.2%. On Wednesday, the US will release Crude […]

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