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WTI Crude Technicals – 104.0 Broken But Follow-Through Suspect

WTI Crude has been staying between 103.0 – 104.0 for most of the entire week, but prices suddenly shot up during early European session, pushing beyond the high of Monday and leading prices to the highest level since 6th March. This gain is certainly surprising given that latest inventory data from the American Petroleum Institute […]

Gold Technicals – 1,300 Broken As Bearish Momentum In Full Force

Gold prices tanked heavily after the bearish rejection of 1,330 resistance, breaking the 1,315 key level in the process which led to even stronger selling pressure. What is more surprising is the fact that prices managed to breach 1,300 round figure support, resulting in the strongest hourly decline seen since 7th March – when US […]

British Pound Bulls Fear Weaker Inflation Statistics

Talking Points: Dollar Bounces Along with Yields, CPI a Key Benchmark British Pound Bulls Fear Weaker Inflation Statistics Euro Takes Another Hit as ECB’s Threats Pick Up Intensity Dollar Bounces Along with Yields, CPI a Key Benchmark US equities may have put up a decent rebound to open the week, but that wouldn’t stop the […]

Dollar Mostly Higher Despite Inflation Data and Other Top Forex News.

The dollar was trading mostly higher against the other major currencies on Tuesday, despite this mornings inflation data coming in higher-than-expected. This mornings data showed that consumer price inflation rose 0.2% in March, exceeding expectations for a 0.1% gain, after a 0.1% uptick the previous month. With core consumer price inflation, which excludes food and […]

Will Yellen Crush The Dollar?

By Boris Schlossberg, Market Drivers April 15, 2014 UK CPI in line EUR ZEW misses a bit on Ukraine worries Nikkei .62% Europe -.43% Oil $102/bbl Gold $1310/oz. Europe and Asia: GBP CPI 1.5% vs. 1.5% EUR ZEW 43.2 vs. 46.3 North America: USD CPI 8:30 AM USD Empire 8:30 AM Cable saw some early […]

Bitcoin Continues Rally, BTC China Launches ATM App

Bitcoin continued the move up for a second day, briefly spiking to $540.18 on BTC-E on low volume. The high reached on BitStamp stands at $515. Prices are currently trading somewhat lower at $501.50, compared to $497.50 on BTC-E. BTC China launched a ‘’soft’’ bitcoin ATM. The firm’s web-based ‘’Picasso ATM’’ app allows anyone with […]

WTI Crude – Staying Supported Above 103.0 Despite 104.0 Rejection

Bullish pressure on Oil subsided after the Ukraine Government failed to follow-through with the ultimatum which would have brought the eastern European nation closer to war with Russia. With the likelihood of outright war lower right now, it is not surprising to see Oil prices failing to breach 104.0 resistance. Hourly Chart However, prices remained […]

Gold Technicals – Bulls Failing The 1,330 Test

Yellow metal hit a high of 1,331.26 yesterday, but bulls were unable to hold onto the gains with prices pulling back to 1,325 quickly towards the end of US session. This is not surprising considering that market sentiment was bullish yesterday, draining away the safe-haven flows that has helped prices gaping from 1,318+ to 1,328 […]

US futures treading water following Thursday’s losses

US futures treading water following Thursday’s significant losses; UoM consumer confidence number key today; JP Morgan and Wells Fargo kick off earnings season for the banks. US futures are treading water on Friday, a day after all three major indices made quite significant losses as investors embarked on another wave of growth stock selling. Ahead […]

Pound at Risk on Soft UK Inflation Data, Euro to Look Past ZEW Outcome

Talking Points: British Pound May Fall as Soft Inflation Data Erodes BOE Policy Bets Euro Unlikely to Find Lasting Volatility in German ZEW Survey Outcome US Dollar May Rise on QE “Taper” Continuity is CPI Tops Expectations The March set of UK inflation data headlines the economic calendar in European trading hours. The headline year-on-year […]

Dollar Boosted By Upbeat Retails Data and Other Top Forex News.

The dollar began the week in buoyant mood after the release of stronger than expected U.S. retail sales data for March, offset growing concerns over a slowdown in China and rising tensions in the Ukraine. The official data showed that U.S. retail sales came in 1.1% higher for March, exceeding expectations for a 0.8% gain. […]

Retail Sales Should be Positive for the Dollar But

By Kathy Lien, This morning’s stronger than expected U.S. retail sales report should have been overwhelmingly positive for the dollar and while we did see the greenback appreciate after the release, it has now given up all of its gains versus the Japanese Yen. Investors have to look no further than Treasury yields for an […]

IEuro Starts to Slide as ECB Finally Jawbones

By Boris Schlossberg Market Drivers April 14, 2014 Draghi, Noyer all express concern over exchange rate, deflation euro gaps lower Ukraine standoff remains tense Nikkei -.36% Europe -.52% Oil $104/bbl Gold $1326/oz. Europe and Asia: GBP RICS 2.6% vs. 1.6% EUR IP 0.2% as eyed North America: USD Core Retail Sales 8:30 AM USD Business […]

Bitcoin Rallies Over 10 Percent, OKCoin to Launch ATM

After opening at $400.28 bitcoin rallied over 10% today to reach a new multiday high of $457.99. Currently, BTC/USD is trading at $455 on BTC-E and $461 on BitStamp. In China related news, exchange OKCoin announced that they’re working on a bitcoin ATM. One of the main features of the machines will be complete trading, […]

WTI Crude – Bullish Momentum Stalling At 104.0 Resistance

Hourly Chart Prices of Oil climbed on escalating conflict in Ukraine, but we remain trading below the 104.0 round figure resistance that has held strongly before sending prices down back to low 103 levels last Friday. Also, prices are trading below the rising trendline, suggesting that bullish momentum that has been in play since 8th […]

Gold Technicals – Marching Towards 1,330 On Sound Of Ukraine Unrest

Prices climbed up sharply over the weekend, climbing to a high of 1,328 per ounce during the first couple hours of trading on Monday (Sunday evening New York). This gain can be attributed to heightened tension in Ukraine once again where small arms exchanges were made between pro-Russia supporters and Ukrainian police, leading to fears […]

European futures lower following another sell-off in the US

US indices break key support opening themselves up to further losses in the coming weeks; Low expectations ahead of earnings season, with JP Morgan and Wells Fargo reporting today; US consumer survey key indicator of future economic activity. It would appear the sell-off in high growth stocks is far from over following the sell off […]

US Dollar to Weigh Retail Sales Data, Risk Trends for Direction Cues

Talking Points: Euro Falls as ECB’s Draghi and Coeure Talk Up Stimulus Expansion Upbeat US Retail Sales Data May Boost Fed “Taper” Continuity Bets US Dollar May Follow UST Yields Down as S&P 500 Futures Decline The Euro came under pressure to start the trading week, hobbled by comments by ECB President Mario Draghi and […]

Bitcoin Exchange MtGox to Spend $40 Million on Restart

Bitcoins are trading slightly up today. On BTC-E, buying one piece of the virtual currency will set you back $419.7, 2$ more than yesterday. On BitStamp, purchasing the same amount of btc costs $424.9. According to an unconfirmed translation of Japanese court documents, failed bitcoin exchange MtGox is looking to spend an astounding $40 Million […]

Bitcoin Trades Unchanged After Yesterday’s Reversal

Bitcoin prices are trading almost unchanged compared to yesterday. On BTC-E, the crypto opened the day at $416.5 and is currently trading only $0.5 above this level at $417. Prices are slightly higher on BitStamp at $424.10. The head of the People’s Bank of China told reporters that the Bank hasn’t banned bitcoin and has […]

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