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USD/CAD Loonie Stable After Brexit Shock as Oil Retreats

The Canadian dollar plunged after the Brexit news hit the markets. Risk aversion triggered a demand for safe haven assets like the USD, JPY, CHF and Gold. The CAD was under pressure as oil depreciated and the USD rose as the full economic impact of the British vote is still uncertain. Canadian Prime Minister Justin […]

UK Chooses Sovereignty in Shock Referendum Result

It’s been a truly historic night for the U.K as it appears that the people have voted to leave the E.U. after a number of news channels confirmed that a win for remain is all but impossible. This comes after financial markets were convinced that the result would be a comfortable win for the remain […]

APAC Currency Corner – Another financial meltdown on the cards?

Post-Brexit vote, the debate has centred on whether it will be the catalyst for another Lehman Brothers-style meltdown. While there’s a lot of dust still to settle, central bankers are ready and willing to use whatever tools necessary to calm investor’s nerves and avoid a global meltdown. While markets were extremely volatile on Friday, trading was […]

UK Voters Take Country Back- Now what?

It’s not official, but statistically called by all major pundits, U.K has voted to change the course of their own country and leave the European Union (52% Leave, 48% Remain). Their decision has sent the pound into free-fall (£1.3400), back to its 1985 levels outright and is battering global equity markets (Asia is down-3%). Investors […]

Gold Jumpy Ahead of Brexit Outcome, US Jobless Claims Dip

Gold has moved in both directions on Thursday, but has shown little net movement over the day. The metal is trading slightly above the $1260 level in the North American session.  On the release front, US numbers were a mix. US unemployment claims slipped to 259 thousand, below expectations. However, New Homes Sales dropped to 551 […]

Sterling Hits 2016 Highs on Brexit Referendum Day

The day of the Brexit referendum has finally arrived and investors are understandably cautious ahead of what could be a turbulent end to the week. European equity markets are expected to open a little lower this morning following a subdued session in Asia overnight and some selling in the afternoon in the US on Wednesday, […]

APAC Currency Corner – It’s a crap shoot

The votes are in and the counting is well and truly under way in the UK’s referendum on EU membership. Early results are reflecting blue-collar (leave) sentiment while white collar voters are due later. Markets are like a coiled spring waiting eagerly for the first sniff of an outcome. The market’s overall lean continues to price […]

In or Out, D-Day for Sterling

Five things the markets are talking about The long wait is over. Voting stations are open and U.K citizens go to the polls to decide whether they want to be apart of the E.U or go it alone. In the meantime, investors should expect rumors and whispers to have capital markets on the edge right […]

Oil Rises Further Above $50 on API Report

Oil rose further above $50 a barrel on Wednesday after an industry report showed a large drop in U.S. crude inventories, with analysts expecting volatile trading ahead of Britain’s referendum on EU membership. U.S. crude inventories fell by 5.2 million barrels, the American Petroleum Institute (API) said on Tuesday, far more than analysts expected. Official […]

Gold Rush to End Whether or Not UK Votes to Exit

Gold’s sharp gains on uncertainty over Britain’s European Union membership are likely to come to an end, regardless of whether Britons vote to leave or remain in Thursday’s referendum. Prices XAU= hit their highest since August 2014 last week as the $5-trillion a year gold market rose with other “safe” assets, such as German bunds, […]

USD/CAD Loonie Lower as Oil Falls Ahead of Brexit Vote

The Canadian dollar traded lower on Wednesday as voters in the UK prepared for the UK EU referendum and oil prices dropped after inventories in the U.S. did not fall as much as expected. The CAD had recovered some ground after the tide of Brexit seemed to swing to favour the Remain side and risk […]

Brexit Polls and Markets Disagree

Britain entered the final day of campaigning before its referendum on European Union membership with opinion polls and financial markets at odds about the outcome. Investors are piling money into bets on a victory for the “Remain” campaign, led by Prime Minister David Cameron, in Thursday’s plebiscite. The pound has surged to a five-month high […]

Oil – Crude Trades Under $50 as USD Recovers

US crude has posted small losses on Tuesday, following gains on the Monday session. WTI Crude is trading at $49.29 in the North American session. Brent crude is trading just above the $50 level, at $50.03, for a premium of $0.72. On the release front, there are no economic releases for a second straight day. […]

Gold Slips Ahead of Yellen Speech

Gold has posted considerable losses on Tuesday, after showing limited movement in the Monday session. Spot gold is trading at $1268.76 per ounce in the North American session, marking a 10-day low. In economic news, there are no US economic releases for a second straight day. The markets will be listening closely to Federal Reserve […]

APAC Currency Corner – The clock is ticking

We are less than 48 hours away from Judgement Day, and the forex markets are gravitating to some semblance of risk event midpoint. Other than kicking the can from poll to poll, there is little on offer for traders to sink their teeth into. Even Fed chairman Janet Yellen’s first day of the semi-annual Humphrey-Hawkins […]

Assorted Bremain vs. Brexit Outcomes

Five things the markets are talking about Current market sentiment remains highly correlated to Brexit speculation. Global bourses are relatively mixed in the overnight session; a day after a strong risk rally was supported by U.K weekend referendum polls. Earlier this morning, Sterling (£1.4784) rallied to a new seven-month high, on the perception of diminishing […]

WTI Crude Punches Above $49 as Brexit Fears Abate

US crude has posted slight gains on Monday, following strong gains in the Friday session. WTI Crude is trading at $49.14 in the North American session, its highest level in a week. Brent crude is showing the same upward trend, and is trading at $50.13, for a premium of $0.99. On the release front, the […]

Gold Steady, Markets Eye Yellen Testimony

Gold has posted small losses on Monday, following strong gains in the Friday session. Spot gold is trading at $1285.86 per ounce in the North American session. In economic news, it’s a quiet start to the trading week. There are no US releases on the schedule. On Tuesday, Federal Reserve chair Janet Yellen will appear before the Senate Banking […]

The Day After The U.K. Votes To Leave

Here’s what the world could look like on June 24 if the “Leave” camp won the previous day’s referendum on whether the U.K. should continue to be part of the European Union: The foreign exchange markets are in turmoil, with the pound falling 7 percent to 10 percent and the euro down about 3 percent […]

Aggressive Risk Rally After U.K Polls

Five things the markets are talking about. With Britain going to the polls Thursday (June 23) to vote on its European Union membership is just one of several significant events this week that could have a massive impact on the ECB. Elsewhere, in Spain a national election could raise further questions about the future of […]