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Bitcoin Stages Reversal, Trades Back to $582

Bitcoin staged a reversal of the $562 handle yesterday. After hitting $562.98 on BTC-E, the crypto rallied 19 points to close the day at $581.97. From here, everyone’s favorite cryptocurrency moved somewhat lower to hit $572.50 in today’s trading session. One bitcoin is currently quoted at $581 on BTC-E and at $584 on BitStamp. Going […]

This Week: Suit Up, Strap In, And Be Dollar Ready

Last week saw global markets fluctuate between corporate earnings and geopolitical conflicts. There was an excess of negative news out of Israel and eastern Ukraine, with each region’s headlines countering much of the decent U.S. and European quarterly earnings reports. On the whole, the reports were relatively good, despite a couple of curve balls thrown […]

Oil Retreats Awaiting Fed and US Economic Data

West Texas Intermediate and Brent crudes fell before U.S. economic data that may signal slowing growth, curbing fuel use in the biggest oil-consuming nation. Crude in New York slipped for the fourth time in five days amid forecasts that an index of U.S. service industries dropped this month. An upsurge in fighting in Libya hasn’t […]

Rebound likely as USDCHF returns to previous resistance

The USDCHF pair continues to climb following the breakout of a descending channel formation earlier this month. Gradual stepped increases in price action finally led to a break above 0.9035 to find a four month high on Friday and with price now pulling back I expect support to come in at that major previous resistance […]

Fed, NFPs Line Up this Week with USD Technical Breakouts

Talking Points: EURUSD aims below 1.3400, USDCHF above 0.9150. GBPUSD critical support comes in at 1.6920. July forex seasonals in QE era still working against greenback, however. A culmination of factors may be aligning for further US Dollar strength over the coming days, even as the economic calendar comes in rather light until Wednesday. However, […]

Bitcoin Breaks $585, Hits New Monthly Low

The scenario we discussed in our previous daily roundup occurred today as Bitcoin prices broke the small support area at $585. The break happened in the Asian trading session and in less then 3 hours BTC/USD fell almost 20 points to hit a new monthly low of $566. We are currently trading just barely above […]

West TX Oil Below $102 Before U.S. Economy Data

West Texas Intermediate crude fell for the fourth time in five days amid speculation that economic data may signal slowing growth in the U.S., the world’s biggest oil consumer. Brent also dropped in London. Futures slid as much as 0.6 percent in New York, extending a 1 percent decline last week. A preliminary index of […]

Gold – Bounces Back up Above $1300 Again

Gold for Monday, July 28, 2014 Gold did well at the end of last week to surge higher through the $1300 level back up towards $1310 before easing slightly to start this new week.  Throughout most of last week gold was slowly but surely easing lower below $1305 heading south towards $1300 before bouncing higher.  […]

European futures lower ahead of key UK and German data

Yesterday was very much a day of mixed data, with Japan getting the day off to a bad start with weaker export figures only for Chinese manufacturing data to offset it. This was followed by better than expected Eurozone PMIs but a bad month of retail sales for the UK, before being wrapped up with […]

New Zealand Dollar Down on Eroding RBNZ Rate Hike Outlook

Talking Points: New Zealand Dollar Down as RBNZ Rate Hike Outlook Continues to Erode US Dollar Looks to PMI, Home Sales Data to Set the Tone for a Busy Week View Economic Data Releases on Your Charts with the DailyFX News App The absence of top-tier scheduled event risk left currency markets rudderless in the […]

Bitcoin Likely to Resume Fall

After the breather during the last few days, BTC prices look set to resume their fall. The crypto has been knocking on the $585 level for the last few days and barring any positive news shock, BTC/USD should fall below this figure and retest the July 24th low at $578. If this decline materializes, the […]

Bitcoin Banned in Ecuador as Government Plans Own Cryptocurrency

In a strange turn of events, the socialist government of Ecuador decided to ban bitcoin and all other cryptocurrencies while at the same time introducing plans for creating its own crypto. The bill gained approval from 91 members of parliament, with 22 votes against and 3 abstentions. The president Rafael Correa, who introduced the bill, […]

Bitcoin Gains 1%, New US Exchange Comes Online

Bitcoin gained around 1 percent in the last 24 hours. After yesterday’s dramatic break below $600, BTC/USD today had a calmer trading session. Prices opened at $591.45 per coin on BTC-E. From here, everyone’s favorite cryptocurrency rallied to retest the $600 figure. After the failed retest, BTC consolidated just below the level and this is […]

Midyear FX Outlook: The Mighty Buck’s Return Is Nigh

The question on every investor’s lips is, “when will the Fed raise interest rates?” Global currency markets continue to flounder in an environment of low volatility and volume despite being punctuated by periods of geopolitically induced risk events. The ongoing Russia-Ukraine conflict remains a significant concern that was heightened by a Malaysian jetliner being was […]

Gold – Drops to One Month Low Below $1300

Gold for Friday, July 25, 2014 Gold is trying to rally higher after falling sharply below the key $1300 level.  You could argue that this has been coming for a few days as it has been slowly but surely easing lower below $1305 heading south towards $1300.   The $1300 level has been reinforced as a […]

Traders turn to US data and earnings after eurozone boost

World cup and good weather gives PMI readings a boost; UK retail sales slip in June but business investment cushions the blow; 50 S&P 500 companies due to report on what has so far been a very good third quarter; Plenty of data being released for traders to get their teeth stuck into. US futures […]

Euro Selloff May Continue as PMIs Fuel Bets on More ECB Stimulus

Talking Points: Euro Selloff May Continue as PMI Data Fuels Bets on More ECB Stimulus New Zealand Dollar Tumbles as RBNZ Signals Shift to Wait-and-See Mode Aussie Dollar Tags 3-Week High After HSBC Reports Upbeat Chinese PMI The preliminary set of July’s Eurozone PMI figures headlines the economic calendar in European trading hours. The region-wide […]

Bitcoin Breaks Below $600

After three weeks spent trading aimlessly in a range, BTC/USD finally broke below the important $600 figure today. The move below $600 lead to quick BTC losses and the crypto soon found itself trading at a low of $578. From here, we rallied a bit and we are currently quoted at $593 a piece on […]

RBNZ Bulls Not Affected By Dairy Prices

Capital markets require rate divergence for sustainable volatility, which in turn drives greater investor interest, more volatility and so on. The market just wants price movement. To date, central banks and option traders have been successful handcuffing the forex asset class to tight, contained, and boring currency ranges for many months. Even geopolitical risk, when […]

Gold – Continues to Look South Towards Key $1300 Level

Gold for Thursday, July 24, 2014 Gold is slowly but surely easing lower just below $1305 back towards $1300 which it has now been doing for the last few days and it is looking to threaten any potential support at this level.  The $1300 level has been reinforced as a level of significance in the […]

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