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Oil Higher on Yemen Concerns

Crude oil prices settled up 3 percent on Thursday, hitting 2015 highs, while U.S. gasoline reached 5-month peaks after Saudi Arabia and its allies maintained a bombing blitz in Yemen that heightened concerns about the security of Middle East oil supplies. Oil buyers also stoked the rally with bets that U.S. crude output will shrink […]

Gold – Remains Steady Above $1190

Gold for Friday, April 24, 2015 In the last 24 hours Gold has steadied just above the $1190 level after dropping sharply through the key $1200 level down to below $1190 a couple of days ago. In the last couple of weeks, gold has traded in a narrow range right around the key $1200 level […]

Euro Bears Under Pressure Despite Flash PMIs Seeing Red

EUR fails to rollover on soft flash numbers ECB chief economist sees Europe on growth track Hawkish talk on Greece lifts EUR Far East PMIs reveal significant deterioration Notwithstanding the lack of fundamental data on show this week, the EUR bear has been trying valiantly to build up a head of steam ahead of tomorrow’s […]

Pound May Prove More Responsive Than Euro to Eurozone PMI Data

Talking Points: Eurozone PMIs May Prove More Market-Moving for the Pound vs. the Euro NZ Dollar Slumps as RBNZ’s McDermott Talks Down Rate Hike Possibilities Franc Corrects Higher After Yesterday’s Aggressive SNB-Inspired Decline The preliminary set of April’s Eurozone PMI figures headlines the economic calendar in European trading hours. The region-wide composite index is expected […]

Bitcoin Barely Changed in a Calmer Trading Session

Bitcoin is trading up by $1 dollar in a calmer trading session. After opening at $231.98, BTC/USD first fell to a low of $230.32, only to rally back and hit a high of $233.71 later in the day. Eventually the cryptocurrency closed the day at $231.50, just 48 cents below its opening price. The slow […]

West TX Oil at $54.50 as Yemen Bombing Continues

Oil prices extended gains on Thursday as renewed fighting in Yemen brought focus back on potential supply disruptions in the Middle East. Saudi-led coalition warplanes continued bombing Yemen on Wednesday despite an announcement by Riyadh that it was ending its campaign of air strikes. While Yemen itself is not among the biggest oil producers in […]

Gold – Closely Hugs Key $1200 Level

Gold for Wednesday, April 22, 2015 Gold is presently trying to hold onto $1200 after dropping sharply through the $1200 level in the last 48 hours before rallying higher again. In the last couple of weeks, gold has traded in a narrow range right around the key $1200 level and this range seems to be […]

BoE: A Coin Toss on Direction of Next Rate Move

The Bank of England went into self-imposed purdah when the election was called in late March, so the release of the minutes of the April meeting of the monetary policy committee provides the first hint of current thinking inside Threadneedle Street for some weeks. The message from the minutes is modestly hawkish. Sure, the vote […]

British Pound May Rise as BOE Meeting Minutes Reboot Rate Hike Bets

Talking Points: British Pound May Rise as BOE April Meeting Minutes Reboot Rate Hike Bets Aussie Dollar Gains as Core CPI Unexpectedly Rises, Firming RBA Outlook See Economic Releases Directly on Your Charts with the DailyFX News App The release of minutes from April’s Bank of England policy meeting headlines the economic calendar in European […]

Bitcoin Flat After V-Shaped Reversal

Bitcoin ended the session flat after a V-shaped reversal. After opening at $230.79 BTC/USD first rallied to $236.56, hitting a new multi-day high. But from here the sellers took charge and pushed the crypto down to $231.98 at the close. We are currently quoted at $231.35, below yesterday’s close. As usual, prices are trading at […]

West TX Oil Steady Around $56 on U.S. Inventories

U.S. crude futures held steady on Tuesday as a drop in stockpiles at a key U.S. delivery point offset near record high production in Saudi Arabia and an expected build in U.S. oil inventories. NYMEX crude for May delivery, which expires later in the day, was down 4 cents at $56.34 a barrel by 0000 […]

Gold – Eases Below Key $1200 Level

Gold for Tuesday, April 21, 2015 Gold is presently trying to hold onto $1195 after dropping sharply through the $1200 level in the last 24 hours In the last couple of weeks, gold has traded in a narrow range right around the key $1200 level. It seems gold has an attraction to the key $1200 […]

Greece Committed To EUR’s Downward Trajectory

Dollar finds support across the board Greece committed to the EUR’s downfall ECB applying subtle pressure via banking system German sentiment spooked by Greece The mighty dollar is quietly going about regaining some of its natural pose as the market heads stateside. Greece, on the other hand, remains committed to the EUR’s downward trajectory in […]

Euro to Look Past German ZEW Data as Greece Worries Loom Large

Talking Points: Euro Unlikely to Find Follow-Through in German ZEW Report Commodity Currencies, US Dollar Respond to Policy Outlooks See Economic Data on Your Charts with the DailyFX News App Germany’s ZEW Survey of analyst confidence headlines the economic calendar in European trading hours. The forward-looking Expectations index is expected to rise to 55.3, putting […]

Bitcoin Spikes $8 in Minutes on Margin Call

After several days of uneventful price action, bitcoin spiked close to $8 dollars in 8 minutes today. The surge higher started right at 22:00 CET (16:00 EST) as BTC/USD moved from $222.74 to a high of $230.35. This large 3.4 percent move took just 8 minutes to complete. An extension to the gains followed in […]

Russia Increases Gold Reserves by 1,238 Tons in April

After a two-month hiatus, Russia’s appetite for buying gold is back. The nation increased foreign reserves of bullion to 39.8 million ounces, or about 1,238 metric tons, as of April 1, compared with 38.8 million ounces a month earlier, the central bank said on its website Monday. The 30-ton purchase was the most since September. […]

Creditors Chase Consensus With Greece to Unlock More Aid

Greece and its creditors remained at loggerheads with time running out to unlock aid and avert a default. The sides haven’t even set 2015 budget targets, let alone on policies to meet them, an official representing creditors said Monday, asking not to be named as talks aren’t public. Euro-area finance ministers said in February that […]

Greece’s Varoufakis warns of Grexit contagion

Greece’s Finance Minister Yanis Varoufakis said in an interview broadcast on Sunday that if Greece were to leave the euro zone, there would be an inevitable contagion effect. “Anyone who toys with the idea of cutting off bits of the euro zone hoping the rest will survive is playing with fire,” he told La Sexta, […]

EUR-crosses Begin to Lose Traction at Start of Week

Talking Points: EURUSD‘s only bullish appeal rooted in stretched positioning. EURGBP, EURJPY technical structures remain fairly weak. See the April forex seasonality report. The Euro has once again started to slip back thanks to its deflating yield appeal and advancement along the path of a funding currency. As the differential between the short-end and the […]

Bitcoin Up 1$ as Zig-Zag Movement Continues

Bitcoin is up $1 dollar today as the zig-zag price movement continues. After opening at $220.69 BTC/USD rallied to a high of $224.56. But as you can probably guess, the rally proved unsustainable and near the end of the session bitcoin was trading back near the $220 mark. We are currently quoted at $221.60 on […]

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