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Bitcoin Bounces at Previous Consolidation

Bitcoin is trading almost unchanged since our last update. Prices bounced right at the consolidation area shown in our yesterday article and headed lower. We are currently quoted at $374.64 dollars per coin on BTC-E. On rival exchange OKCoin we saw prices dip from a high of $382.40 to a daily low of $369.11 dollars. […]

Week Ahead in FX – December to Start With Major Releases

Central Bank Action and NFP to Start the Last Month of the Year The month of December will bring plenty of economic data and monetary policy statements for a currency market that is trading with high levels of uncertainty as geopolitical situations escalate. Next week alone will have the central banks of Australia, Canada and […]

USD/CAD Loonie Lower on Falling Oil Prices

The USD/CAD appreciated 0.617 percent on Friday as the price of oil tumbled more than 3 percent following a stock market rout in China. The currency pair will finish the week trading at 1.3373. Canadian producer prices offered no support to the CAD after falling 0.5 percent on forecasts of a 0.1 percent contraction. Raw […]

Bitcoin Higher but Doubts Remain

Bitcoin is trading strongly higher today and is now within striking distance of the upper breakout point. On BTC-E we opened at $351.59 and slowly gained ground all day, with very little retracement. By the end of the day a price of $363.91 was hit. In the new session we saw a continuation of the […]

UK Economy to Continue to Face Strong Headwinds

While investors in the U.S. do return from the Thanksgiving bank holiday on Friday, we can expect light trade again today with many taking an extra day off and turning it into a long weekend break. That is often the case, particularly when the bank holiday falls so close to the weekend. The quieter schedule […]

UK and Eurozone Data Give Reason For Optimism

UK Consumer Continues to Drive the Recovery in Q3 While the UK has been seeking a more balanced economy with less reliance on the consumer and the services sector as a whole, this was once again the main driver of growth, with rising wages, low interest rates and low energy prices supporting more spending. Weaker […]

Bitcoin Flat in Calmer Session

With two hours to go, bitcoin looks set to close today’s trading session unchanged. On BTC-E we opened the day at $352.47 and bounced between $345 and $355 all day. One coin is currently selling for 352.25 on this exchange. The hourly chart below shows today’s session on BTC-E. As the market calmed down a […]

Bitcoin Up Three Days in a Row

Bitcoin closed higher for third day in a row. On BTC-E we opened at $339.04 and gained $13 dollars to close the session at $352.43. We are currently quoted at $353.76 on this exchange, about $7 dollars below the general USD market. Meanwhile on OKCoin we saw a smaller daily gain of $7 dollars, from […]

USD/CAD Loonie Slightly Higher on US Thanksgiving Despite Softer Oil Prices

The USD depreciated 0.0632 percent versus the CAD during the U.S. Thanksgiving holiday. There was little trading volume during the session. The USD/CAD traded in a range between 1.3320 and 1.3280. The Loonie opened weaker versus the U.S. dollar and as the price of oil dropped as the oversupply narrative grew during the day. As […]

ECB Failure Ruins ‘Short of a Lifetime’

In April, Bill Gross said betting on a decline in the value of German government debt offered the trade of a “lifetime.” Thus far, the strategy has failed to deliver anything like the stellar profits anticipated by Gross. But that says less about the market acumen of the world’s best-known bond investor than it does […]

AUDUSD – Evening Star Casts Doubt on Breakout

After breaking above the descending channel that it has traded within for more than a year, the Australian dollar has failed to gather much momentum against the greenback and once again appears to be struggling to push on. I highlighted on Tuesday (AUDUSD – Bullish Breakout Unconvincing) that while the move above the channel should […]

FX Market Moves Flat Line For Now

U.S markets are closed today for Thanksgiving and will shut early tomorrow. Despite the shortened trading week, dealers and investors have had a plethora of U.S data to consider that could convince an undecided Fed member to shift allegiance. Yesterday’s U.S durable goods data was better than expected (+0.5% vs. -0.3%), while U.S personal spending […]

Bitcoin in Volatile Thanksgiving Session

Bitcoin had a highly volatile Thanksgiving session. On OKCoin we opened at $328.90 and slowly rallied until we hit a high of $369.70 around mid-day. But this $40 dollars rally came to an abrupt stop here as prices tumbled back down to hit $340.55 just few hours later. We are currently quoted at $344.54 on […]

Iran’s Oil Reserves Await Reentry into Global Market

In a remote corner of Iran, engineers are working round the clock to return the country to the top ranks of global oil producers. The region of Southwest Iran boasts more proven reserves of oil than Africa’s largest producer, Nigeria, and its 60 billion barrels are central to Iran’s ambitions. Drilling is nearly complete in […]

USD/CAD Loonie Flat Despite Strong US Economic Data

The USD/CAD was mostly flat as the strong U.S. economic data was cancelled by the surge in oil prices. The pair is trading at 1.3304 and is trading in a tight range ahead of the Thanksgiving holiday in the States. The U.S. jobless claims posted today instead of Thursday to account for the holiday came […]

Why China ‘Spillover’ Poses Risks for the Euro Zone

China’s economic slowdown could pose risks for the euro area ranging from falling exports, capital outflows and exchange rate fluctuations, the European Central Bank (ECB) said on Wednesday. China is now the second-biggest economy after the U.S. and plays an increasingly major role in global trade. Its economy has slowed each year since 2010 and […]

Huge Amount of US Data in Focus on Wednesday

Attention will be firmly on the U.S. on Wednesday ahead of the Thanksgiving bank holiday, as we get a broad range of important economic indicators that should offer crucial insight into the health of the U.S. economy. When considering whether the Federal Reserve will raise interest rates next month, there is naturally a lot of […]

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 […]

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