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Bitcoin Clocks Small Gains as Summer Takes Hold

Bitcoin edged up smaller gains today as the slow summer season takes hold. We opened at $279.79, fell to $276.89 before rallying to $282.18. Prices closed off the session at $281.52, a gain of $1.73 dollars. We are currently quoted somewhat weaker at $280.52 on BTC-E. On rival exchange OKCoin BTC/USD opened at $282.59, fell […]

Oil Falls to 4-Month Low, Hit by Data on China, Rigs

Oil prices slid to fresh four-month lows Monday as a rise in the number of U.S. oil rigs fueled supply glut concerns even as weak China manufacturing activity weighed on the demand outlook. West Texas Intermediate crude for delivery in September dropped 73 cents, or 1.6%, to $46.39 a barrel in electronic trading. The contract […]

Gold – Eases Below $1090 as Resistance at $1100 Firms

Gold – Tuesday 4 August 2015 Over the last six weeks or so, gold has steadily declined and fallen from above the key $1200 level back to a new five year low below $1100 a couple of weeks ago. It fell in a 24 hour period through the $1100 level down to the multi-year low […]

EURUSD – Friday Spike Reinforces Bearish Outlook

The euro remains bearish against the dollar despite another spike occurring in the pair on Friday. The rally was cut short around 1.11 which, in my view, reinforces the bearish argument for this pair.For one, the pair failed to break above last Monday’s high of 1.1130. This level coincides with both the descending trend line […]

Pound Response to PMI Data Likely Limited as BOE Looms Ahead

Talking Points: British Pound Unlikely to Find Lasting Follow-Through in July PMI Figures US Dollar Looks to PCE, ISM Data to Inform Fed Interest Rate Hike Outlook See Economic Releases Directly on Your Charts with the DailyFX News App July’s UK Manufacturing PMI report headlines the economic calendar in European hours. Expectations call for the […]

Bitcoin Undecided, New Claims Against MtGox CEO

Bitcoin is still trading undecided. After opening at $279.27, BTC/USD dipped to $277 flat on BTC-E. From here we rallied back up to $282.70. We are currently quoted at $280.00, only 73 cents higher compared to yesterday’s opening price. Very similar price action could be seen on OKCoin. Here we opened at $280.71, fell to […]

West TX Oil Below $47 on Weak China Data

U.S. crude futures slipped on Monday in Asian trading as unexpectedly slow Chinese factory growth in July raised demand concerns, while oil markets were also weighed down by OPEC’s record monthly output. U.S. crude fell 29 cents to $46.83 a barrel as of 0005 GMT after settling down $1.40, or almost 3 percent, at $47.12 […]

Gold – Continues to Consolidate Below $1100

Gold – Monday 3 August 2015 Over the last six weeks or so, gold has steadily declined and fallen from above the key $1200 level back to a new five year low below $1100 a couple of weeks ago. It fell in a 24 hour period through the $1100 level down to the multi-year low […]

Worst ECI Reading Since 1982 Gives Fed a Headache

The employment cost index has thrown a major spanner in the works today, following its lowest reading since 1982. While many view other metrics as holding more importance, in my view there are few more important right now than this.*Historical ECI data back to 1982. Source – Reuters Eikon If the Federal Reserve wants evidence […]

Breakout on Tap Next Week? USDOLLAR Index Eyes Flag Top

Talking Points: EURUSD rebounds back above $1.0980 on EZ CPI data. AUDUSD at fresh yearly lows; USDCAD waits for Canadian GDP. See the DailyFX economic calendar for Friday, July 31, 2015. It’s the end of the month, which means fund managers and traders alike will be revisting their books. This rebalancing effect – the reallocation […]

Bitcoin Barely Changed, Hovers Above Resistance

Bitcoin is trading barely changed today. We opened at $278.30 on BTC-E, fell to a low of $275.49, before rallying all the way back to $279.87. Bitcoin closed the session at $279.16, only 86 cents above the open. In the new session we’ve continued to drift lower and BTC is currently quoted at $278.57. On […]

Bitcoin Nears $270 After Another Loss

Bitcoin is nearing the important $270 level after yet another day of losses. This makes it four losing days in a row. After opening at $284.42 on OKCoin we slowly sold-off to a low of $275.66. Near the end of the session BTC staged a small relief rally to close the day at $279.43. We […]

Bitcoin Drifts Lower, Karpeles Arrested

Bitcoin traded down for a third day in a row. We opened at $281.60, traded down to a low of $276.90, before closing the day at $280.40. In the new trading session the selling continued. Right now, one coin is selling for $278 flat on BTC-E, as can be seen on the chart below. On […]

West TX Oil Eases to $48 on Stronger Dollar

Oil prices weakened heading into U.S. crude’s settlement Thursday after a larger-than-expected drawdown in U.S. crude stockpiles was balanced by a stronger dollar and position squaring ahead of the expiry of the front-month contracts in gasoline and diesel. U.S. crude settled down 27 cents, or 0.55 percent, at $48.52 a barrel. Benchmark Brent crude oil […]

Gold – Drifts Below $1090

Gold – Friday 31 July 2015 Throughout the last month gold has steadily declined and fallen from above the key $1200 level back to a new five year low below $1100 earlier last week. Earlier last week gold fell sharply through the $1100 level down to the multi-year low near $1070 before rallying back up […]

EURUSD – Remains Bearish Despite Finding Support

The euro has been under pressure against the dollar over the past few days since running into significant resistance from the 144-day simple moving average and descending trend line, from 14 July highs. This came as divergences were appearing on the 4-hour chart (see EURUSD – Divergence at Major Resistance). Not only did the pair […]

US Dollar May Rise as 2Q GDP Data Boosts Fed Rate Speculation

Talking Points: Euro Unlikely to Find Follow-Through in German CPI, Unemployment Data US Dollar May Rise as Upbeat 2Q GDP Report Amplifies Fed Rate Hike Bets See Economic Releases Directly on Your Charts with the DailyFX News App The preliminary set of July’s German CPI figures headlines the economic calendar in European trading hours. The […]

Bitcoin Prints Red as Volatility Dips

After yesterday’s 2 percent loss today we’re down again, albeit slightly. On BTC-E we opened at $284.93, rallied briefly to $285.97, before falling back down. Near the end of the session we hit a low of $281.56. In the first four hours of the new session BTC dipped to a new 4-day low at $281.20. […]

Brent – Double Bottom Forms as Inventories Fall

Brent crude has been under intense pressure recently and continues to trade in the descending channel that it briefly broke above last month. It found some support yesterday from the middle of March lows around $52 but was not necessarily showing any signs of reversing the trend, despite a small rally later on in the […]

Gold – Remains Motionless Below $1100

Gold – Thursday 30 July 2015 Throughout the last month gold has steadily declined and fallen from above the key $1200 level back to a new five year low below $1100 earlier last week. Earlier last week gold fell sharply through the $1100 level down to the multi-year low near $1070 before rallying back up […]

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