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West TX Oil Near $57.50 as U.S. Production Rises

U.S. oil scored modest gains on Thursday on news that U.S. crude stocks fell for a fourth week, suggesting the U.S. market was rebalancing after a long period of oversupply. U.S. crude closed up 17 cents, or 0.3 percent, at $57.68 a barrel. Front-month Brent was 40 cents higher at $62.50 a barrel, after earlier […]

Gold – Remains Steady Below $1190

Gold for Friday, May 29, 2015 Over the last week gold has slowly but surely drifted lower back to the key $1200 level however in the last couple of days it has fallen sharply to a two week low around $1185. It is now consolidating just below $1190. In the week prior gold enjoyed a […]

Fed Expectations Sees the Greenback Rocket Past the Yen

Market awaiting Greek rhetoric Aussie capital expenditure disappoints Fonterra optimism aids Kiwi farmers No Japanese comment on dollar’s rise Currently, capital markets are beholden to any rhetoric from Greece, albeit rumor or hard fact. Any instrumental headway on Greek creditor talks has pushed sovereign bond yields higher, given the equity markets a nudge, and the […]

Pound May Overlook UK GDP Upgrade, Aussie Dollar Drops on Capex Data

Talking Points: Australian Dollar Down as Capex Slump Fuels RBA Rate Cut Speculation British Pound May Not Find Follow-Through in Revised UK GDP Figures News-Flow from G7 Meeting Eyed for Guidance on Greece Funding Woes The Australian Dollar underperformed in overnight trade, falling as much as 0.5 percent on average against its leading counterparts. The […]

Bitcoin Edges Closer to Decision Time

Bitcoin is nearing decision time as the daily range continues to drop. Today we hit a new multi-year low of only $2.11 dollars. After opening at $238.34 we slowly moved up to $239.99, then drifted to the downside to hit the daily low at $237.87. We closed at $239.21, just 87 cents above the open. […]

Oil Prices Fall Sharply on Dollar

Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market amid concerns that U.S. crude supplies may have started rising again after three weeks of draws. Industry group American Petroleum Institute (API) said after the market’s settlement that U.S. crude inventories rose […]

Gold – Consolidates Around $1190

Gold for Thursday, May 28, 2015 Over the last week gold has slowly but surely drifted lower back to the key $1200 level however in the last couple of days it has fallen sharply to a two week low around $1185. It is now consolidating just below $1190. In the week prior gold enjoyed a […]

Yen Entering Unchartered Waters

Market playing rate divergence catch-up with yen Yen outright could be the next dollar strength barometer Fixed income need to reprice the front end for Fed Euro periphery contagion fears muted for now With one session down into an already shortened trading week, the mighty dollar is consolidating some of the strong gains it has […]

Dollar Rally Extends And Breaks Key Levels Along the Way

Talking Points: Dollar Rally Extends And Breaks Key Levels Along the Way Euro: Greece Risk of an Accident Growing Japanese Yen Pairs Conviction Uneven but USDJPY Propelled to 7-Year High Dollar Rally Extends And Breaks Key Levels Along the Way The Dollar started a strong move through the close of the past week. The strongest […]

Bitcoin’s Daily Range Sinks to New Lows

Bitcoin’s daily range hit a new yearly low of $2.60 dollars ($2.599 to be exact). With a high at $240.09 and a daily low at $237.50, this is the lowest daily range in dollars terms since May 18th 2014. Today’s range of $2.60 dollars narrowly beat out the May 17th 2015 range of $2.74. Here’s […]

West TX Oil Below $57.50 on U.S. Shale Outlook

U.S. oil closed lower on Tuesday, pressured by the possibility that U.S. shale oil producers could increase drilling activity and by a stronger dollar. U.S. drillers cut the number of rigs by just one last week, data showed on Friday, and Goldman Sachs said prices were at a level that would spur activity. The dollar […]

Gold – Drops to Two Week Low Around $1185

Gold for Wednesday, May 27, 2015 Over the last week gold has slowly but surely drifted lower back to the key $1200 level however in the last 24 hours it has fallen sharply to a two week low around $1185. In the week prior gold enjoyed a solid week surging to a three month high […]

Dollar Trading Takes Prominence

Markets watchful of Greece Greek saber rattling supports Gilts and Bunds Yen trades at eight-year low to the dollar Commodity prices fall on dollar outlook After a three-day weekend, market participants jumped straight back into the fray to find the U.S. dollar rising on gains fueled by last Friday’s U.S. consumer-price index surprise, and comments […]

USDOLLAR Index Bottom Looks Established by Now

Talking Points: USDCAD, USDJPY continue to lead the way for USD-pairs. EURUSD in ‘sell rallies’ mode after break of March-May uptrend. See the May forex seasonality report. The USDOLLAR Index has made considerable strides the past two weeks and by doing so, has positioned itself on the charts as having developed a potential significant bottom […]

Bitcoin Barely Changed, Volatility Shrinks Further

Bitcoin is trading barely changed again, in yet another uneventful trading session. After opening at $238.12 on BTC-E, we rallied to a high of $240.32 before falling back to a daily low of $236.41. But ultimately prices closed near the open at $238.57. We are currently trading slightly below yesterday’s open at $237.88. Prices are […]

Oil Steady on Muted Trading

Crude oil futures rose on Monday as firm global demand offset a strong dollar, although a holiday in the United States and much of Europe kept trading muted. Front-month Brent crude LCOc1 gained 53 cents to $65.90 a barrel by 1750 GMT (01:50 p.m. EDT), after touching an intraday low of $64.72. U.S. crude CLc1 […]

Gold – Continues to Consolidate Above $1205

Gold for Tuesday, May 26, 2015 Over the last week gold has slowly but surely drifted lower back to the key $1200 level where it is presently consolidating above. In the week prior gold enjoyed a solid week surging to a three month high above $1225 before returning most of those gains easing back to […]

US Dollar Gets the Green Light from Fixed Income

Thin trading conditions dominate Greece: No “moola” for the IMF Rising prices makes Fed hike timing difficult Fixed income looks to September for first hike Over the past few weeks dollar bulls have been trading with their backs against the wall, pressured by the spike in global sovereign bond yields, and the unknown timing of […]

Euro Drops on Spain Election Outcome, Yen Down After Trade Data

Talking Points: Euro Declines as Spanish Election Results Hint at Parallels with Greece Yen Lower as Japan’s Trade Report Tops Forecasts, Boosts Risk Appetite See Economic Data Directly on Your Charts with the DailyFX News App The Euro underperformed in overnight trade, falling as much as 0.2 percent on average against its leading counterparts. The […]

Bitcoin Retraces Gains, Forum Hacked

Bitcoin can’t catch a break. Today the cryptocurrency retraced most of the gains made during the past 4 days. After peaking out at $243.63 in yesterday’s trading session, today BTC/USD fell to a low of $237 flat before stabilizing somewhat. About two hours ago we had another retest of $237 with prices trading as low […]

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