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U.S Q1 Growth Revised Up

U.S. economic growth slowed in the first quarter although not as sharply as initially thought, amid a surge in spending on home building and a steady increase in inventory investment by businesses. Gross domestic product rose at a 0.8 percent annual rate as opposed to the 0.5 percent pace reported last month, the Commerce Department […]

Week Ahead in FX: ECB, OPEC and US Employment to Drive Market

Central Bank Policy, the OPEC Meeting and NFP to pack FX Agenda The U.S. Memorial Day weekend will shorten the trading week and compress employment releases in a week that is already filled with major events. The Organization of the Petroleum Exporting Countries (OPEC) will meet in Vienna on Thursday and that day the European […]

APAC Currency Corner – It’s US employment data week!

USDJPY – Yen hits the gas Fed chairperson Janet Yellen’s Harvard speech on Friday yielded a significant response from USDJPY traders. The pair moved to the 110.50 near-term resistance level after being mired in very tight ranges most of Friday’s session. On the back of improving risk sentiment, increasing bets on a Fed rate rise after the Yellen-inspired speech on […]

Dollar Direction To Be Dictated By Yellen Today

Five things the markets are talking about Directionless range bound trading continues to dominate proceedings ahead of the bank holiday long weekend in the U.S and the U.K. As has been the nature of trading in May, without fresh impetus, investors are wary about strapping on aggressive new positions. Even with the uptick in ‘hawkish’ […]

Top trade idea for May 27th, 2016 – NZD/JPY

NZD/JPY Anti-trade As a floor trader and market-maker in share options I used to cover 5 stocks actively, and kept an eye on another dozen or so. I was always on the look-out for a free bet – a trade that cost nothing or close to nothing, that had significant upside. In principal, I still […]

Crude Touches $50, US Key Releases Impress

US crude is almost unchanged on Thursday, continuing the lack of movement which we saw in the Wednesday session. Crude is trading at $49.27 in the North American session. Brent crude is almost identical, trading at $49.32. Earlier on Thursday, US crude touched the psychologically-important level of $50, for the first time since early October. On […]

Gold Subdued, US Durable Goods, Employment Reports Improve

Gold continues is steady on Thursday, continuing the lack of movement which marked the Wednesday session. The metal is trading at a spot price of $1222.022 an ounce in the North American session. On the release front, US indicators enjoyed a strong day. Core Durable Goods Orders posted a gain of 0.4%, above the forecast. Unemployment claims […]

USD/CAD Loonie Higher After Oil Price Hits $50

The Canadian dollar navigated a volatile trading day with little data out to Canada to support the currency. American economic indicators were in line with expectations with core durable good orders grew at 0.4 percent and orders including transportation were 3.4 percent higher, but the core data is more telling as it removes the volatile […]

Fed Rhetoric On Markets Radar

Five things the markets are talking about To the neutral observer, it’s not a surprise to see the mighty dollar encountering some profit taking of its recent gains ahead of Fed chair Yellen’s speech tomorrow. The bulk of this week’s USD rise has come from consistent jawboning from the Fed’s team. Will Yellen be as […]

Oil Unchanged, Crude Oil Inventories Posts Sharp Decline

US crude has inched higher on Wednesday, following gains which marked the Tuesday session. Crude is trading at $49.44 in the North American session, its highest level since October. Brent crude is trading at $49.60, as the Brent premium is a negligible $0.16. On the release front, Goods Trade Balance beat the estimate. Crude Oil Inventories surprised […]

Gold Dips to 13-month Lows on Talk of June Hike

Gold continues to lose ground this week. The metal has posted slight losses Wednesday, trading at a spot price of $1220.04 an ounce in the North American session. On the release front, Goods Trade Balance beat the estimate. Crude Oil Inventories surprised the markets with a decline of -4.2 million barrels, compared to the forecast of -1.2 […]

Top trade idea for May 26th, 2016 – USDCHF

I am bullish USDCHF here as no matter how you look at this structure on the daily chart there is only one conclusion that can be drawn: it is a corrective pattern. Not only that it is a corrective pattern, but it should be followed by an impulsive wave so the move that started from […]

EUR/USD – Strong German Business Report Fails to Lift Euro

EUR/USD is showing little movement on Wednesday, following sharp losses in the Tuesday session. The pair is trading at 1.1150. On the release front, German Ifo Business Climate improved to 107.7 points, beating expectations. In the US, we’ll get a look at Goods Trade Balance and Crude Oil Inventories. On Thursday, the US releases durable good […]

USD/CAD Loonie Rises as Bank of Canada Holds and Oil Prices Move After US Inventories

The Canadian dollar had an eventful trading session today. The two main factors that would guide the CAD were: the Bank of Canada (BoC) statement at 10:00 am EDT and the release of the U.S. oil inventories at 10:30 am EDT. The BoC as expected did not change its benchmark interest rate from 0.50 percent. […]

US Crude Steady, New Home Sales Shines

US crude has posted slight gains and is trading at $48.67 in the North American session. Brent crude is trading at $48.90, as the Brent premium is a negligible $0.23. On the release front, US New Home Sales jumped to 619 thousand, well above the estimate. Richmond Manufacturing Sales declined 1 point, missing expectations. US housing […]

Gold Slide Continues on Strong US Housing Report

Gold has posted sharp losses on Tuesday. The base metal is trading at a spot price of $1231.16 an ounce in the North American session. On the release front, US New Home Sales jumped to 619 thousand, well above the estimate. Richmond Manufacturing Sales declined 1 point, missing expectations. Gold has endured a very rough month of […]

APAC Currency Corner – Traders are warming to Fed summer rate hike?

The Greenback continued moving higher on Tuesday on the back of supportive US home sales data, which came in 619k versus just 523k expected, one of the best level seen since 2008. The Aussie – topsy-turvy times There was a moderate nosedive in the Aussie overnight on the back of the RBA’s Glen Stevens, who was making […]

Dollar Moves Handcuffed To Fed Talk

Five things the markets are talking about With “hawkish” Fed rhetoric remaining equities biggest hurdle, coupled with ‘little’ new U.S economic data, the end of the North American earnings season, and significant event risk in the coming month has investor sentiment shifting cautiously in favor of “wait and see.” This approach continues to have a […]

US Crude Drifting at $48, Manufacturing PMI Flat

US crude is showing little movement on Monday, continuing the lack of movement which characterized much of last week. Crude is trading at $47.97 in the North American session. Brent crude is trading at $48.74, as the Brent premium stands at $0.77. On the release front, it’s a quiet start to the week. US Flash […]

Gold Remains Under Pressure, Dips Below $1250

Gold has started the week with small losses, as the metal trades at a spot price of $1246.59 an ounce in the North American session. On the release front, it’s a quiet start to the new trading week. US Flash Manufacturing PMI posted a reading of 50.5 points, short of the estimate of 51.0. On Tuesday, the […]

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