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Bitcoin Higher by $8 Dollars

Bitcoin is trading higher by $8 dollars today. On BTC-E we opened at $318.37 and stayed flat for most of the day until a mid-day spike took prices to $323.69. This was followed by a second leg higher in the next few hours and by the end of the session BTC was trading at $324.56. […]

Oil Bounces Again on Middle East Turmoil

Oil prices rose as much as 3 percent on Tuesday as tensions in the Middle East escalated following the downing of a Russian fighter jet near the Syrian-Turkish border, and a weaker dollar provided an incentive for investors to buy more oil. Brent futures for January were up 96 cents at $45.79 a barrel at […]

USD/CAD Loonie Flies Higher After Oil and Gold Rally

Turmoil in the Middle East as Turkey Downs Russian Aircraft Geopolitical tension triggered a surge in crude prices after Turkey confirmed it had shot down a Russian warplane that it alleged was entering Turkish airspace and refused to communicate. The USD/CAD depreciated as the Loonie was supported by the higher price of crude. The USD […]

Carney Faces Grilling from Treasury Select Committee

Europe is expected to open lower on Tuesday, tracking similar losses in the U.S. and Asia as commodities continue to come under pressure, weighed down by the ongoing appreciation in the dollar. We did see a pop in oil on Monday following a pledge from Saudi Arabia to work with OPEC and non-OPEC members to […]

AUDUSD – Bullish Breakout Unconvincing

The Australian dollar has traded within a descending channel against the greenback for more than a year now but in the last couple of days it appears to have finally broken above it, which could be a very bullish signal. The pair broke above the channel on Friday and despite seeing immediate downside pressure on […]

Bitcoin Black Friday Back in Focus

Bitcoin is trading down by 1 percent today. On OKCoin we opened at $323.09 and after an initial dip to $315.04 prices stabilized around the $320 figure again. We are currently quoted at $319.76 on this exchange, down by $3.3 dollars in today’s trading session. On rival exchange BTC-E we closed lower by $1.74 dollars […]

Gold Lower Versus Dollar as Silver Hits 6 year Low

Gold prices are moderately lower in early U.S. trading Monday and hovering not far above last week’s 5.5-year low. Silver futures are also weaker and hit a six-year low overnight. The precious metals bears continue to dominate trading action, helped in large part by the bearish posture of the key “outside markets.” February Comex gold […]

USD/CAD Loonie Lower After Volatile Oil Prices

CAD Lower But Bounces Slightly After Oil Surge The Canadian dollar continued to fall versus the U.S. dollar on Monday. The USD was off to a roaring start to the trading day as the USD/CAD broke through the 1.34 price level and climbed as high as 1.3436 before the CAD got support from rising oil […]

PMI Improvements Shouldn’t Stall ECB Easing

Growth in the eurozone may pick up from its current uninspiring levels if this morning’s release of November PMI readings are anything to go by. The numbers were expected to remain broadly in line with those seen in October but it turns out both the manufacturing and services sectors outperformed in the eurozone this month, […]

USD at 7-month high against EUR

Despite the holiday shortened trading week, dealers and investors continue to prep for next months two-day FOMC meeting. Divergence in monetary policy remains the theme in FX ahead of several December important central bank meetings. Not surprisingly, the dollar remains on the offensive across the major pairs as short-term U.S rates continue back up in […]

Bitcoin Flat as Volatility Constricts

Bitcoin stayed flat today as daily ranges continue to drop. On BTC-E we opened at $320.83 and fluctuated between $318.81 and $321.99 all day before closing at $320.04. The total loss for the session was a negligible 79 cents. Today’s $3.18 dollars range is the lowest daily range since October 12th. In the two hours […]

Week in FX: FOMC Minutes Show December Rate Hike on Track

The Notes from the October FOMC signal the Fed is gearing towards the first rate hike in a decade. The USD finished the week higher against the majors, except the AUD after the Reserve Bank of Australia published the minutes of its November 3 monetary policy meeting and ruled out further rate cuts. The Federal […]

Canadian Dollar Lower After Weak Sales and Government Growth Downgrade

The USD/CAD is trading at 1.3330 after the release of the Canadian retail sales and inflation data. The consumer price index (CPI) was in line with expectations and the less volatile core CPI that excludes auto and energy was higher than expected at 0.3 percent. The retail sales report disappointed by missing the forecast with […]

Euro Drops as Draghi Reaffirms Dovish Stance

Draghi vows to “do what we must” ECB President Mario Draghi once again delivered a very dovish message during his speech at Euro Finance Week this morning. His “we will do what we must” comment was almost reminiscent of his “whatever it takes” pledge back in 2012, although of course the latter was far more […]

Canada: Consumer Price Index, October 2015

The Consumer Price Index (CPI) rose 1.0% in the 12 months to October, matching the increase in September. Lower energy prices continued to moderate the year-over-year rise in the CPI, led by the gasoline index, which was down 17.1% in the 12 months to October. 12-month change in the major components Prices were up in […]

Bitcoin Slightly Down as Indecisiveness Continues

Bitcoin is trading slightly down today as yesterday’s gains fizzled out. On BTC-E we opened at $323.86, stayed flat for the first half of the session then mini-crashed to $315.58 in the span of one hour. But near the lows the general market indecisiveness came back and the bulls pushed prices back up. We closed […]

Bitcoin up $3 Dollars, Nears $330

Bitcoin is up another day and now nearing the $330 figure again. On BTC-E we opened at $319.76, dipped very slightly to $317.50 before rallying to a daily high of $326.16. We are currently quoted at $323.53, only a new couple of dollars below the price before the EU-inspired crash. On the chart below we […]

Bitcoin Recovers Most of the Losses

Bitcoin is trading slightly down after recovering most of the losses accrued in the early part of today’s trading session. On BTC-E we opened at $324 flat then proceeded to decline by as much as $15 dollars to $309.00. Here the lows got bought up and BTC/USD slowly rallied for the rest of the day […]

Oil Steady at $40, US Jobless Claims Improve

US Crude is showing limited movement on Thursday, trading at $40.00 a barrel early at the start of the North American session. In the US, Unemployment Claims improved to 271 thousand, very close to the estimate. Later in the day, we’ll get a look at the Philly Fed Manufacturing Index. On Wednesday, the Federal Reserve released the minutes of its […]

USD/CAD Canadian Dollar Higher After Less Hawkish FOMC Minutes

The Canadian dollar appreciated versus its U.S. counterpart after yesterday’s release of the minutes from the October Federal Open Market Committee (FOMC). The notes showed that there is still internal division on when to proceed with the first U.S. interest rate hike in a decade. The forecasts still call for a sooner rather than later […]

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