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Bitcoin Flat Ahead of Auction Day

Bitcoin is trading almost flat ahead of the important third BTC auction. Unlike Monday’s $14 dollar and Tuesday’s $13 dollar gains, today bitcoin is trading down slightly by $1.54 dollars. The daily range has also shrunk to $9.34 dollars. After opening at $279.52, BTC/USD fell over $8 dollars to a daily low of $271.10. But […]

As Demand Grows, Saudis Boost Oil Price to Asia Most in 3 Years

Saudi Arabia, the world’s largest crude exporter, increased the pricing terms for Arab Light sold to Asia by the most in three years as demand improved. State-owned Saudi Arabian Oil Co. said Tuesday it will sell cargoes of Arab Light in April at 90 cents a barrel below Asia’s regional benchmark. That narrows the discount […]

USD/CAD – RBA Decision has the Loonie Bear Concerned

RBA keeps rates on hold Abe’s Aide guides Yen higher Will CAD’s GDP influence BoC Poloz? Market to focus on NFP Capital markets are finally on the move albeit slowly. Record low bond yields, record high global equities indices, and strained forex ranges are beginning to provide more trading opportunities in these first few days […]

Aussie Dollar Soars as RBA Withholds Rate Cut, NZ Dollar Gains on Data

Talking Points: Aussie Dollar Soars After RBA Unexpectedly Leaves Rates Unchanged NZ Dollar Higher on Upbeat Commodity Exports, House Price Figures British Pound May Not Find Support in Upbeat Construction PMI Data The Australian Dollar outperformed in overnight trade, rising as much as 0.7 percent on average against its leading counterparts, after the RBA unexpected […]

Bitcoin Breaks $266 Resistance, $300 Eyed

After fighting with the $266 mark for almost a day, bitcoin finally managed to rally higher. The breakout happened in the last few hours of today’s trading session. Bitcoin took out the temporary daily high at $272.99 and rallied exactly $10 dollars higher to $282.99. We have since fallen back somewhat, prices are currently trading […]

West TX Oil Steady near $49.50 Ahead of U.S. Stockpile Reports

Crude oil prices gained marginally in Asia onb Tuesday ahead of U.S. industry data on supplies that will set a tone. The American Petroleum Institute will release its estimate of U.S. crude, distillate and gasoline stockpiles last week, with more closely watched data from the U.S. Department of Energy due on Wednesday. On the New […]

Gold – Selling Pressure Resumes on Support at $1200

Gold for Tuesday, March 3, 2015 Gold has done well over the last few days to enjoy some support at $1200 and rally higher to a one week high to finish last week, before dropping a little in the last 24 hours and placing its attention firmly back on the support at $1200. For the […]

U.S Dollar Dominant in Deluge of Data

PBoC surprises Capital Markets with a cut AUD to be kept busy by RBA announcement Eurozone deflation pressures ease US jobs heading towards full employment The Peoples Bank of China managed to get the jump on Capital Markets over the weekend. Chinese policyholders cut interest rates by -25bps for the second time in less than […]

Too Early to Call a Bottom in EUR-crosses Despite CPI Data

Talking Points: EURUSD trades back above 1.1200 after Feb EZ CPI beats. Technical structures of EURGBP, EURJPY remain bearish. See the DailyFX Economic Calendar for Monday, March 2, 2015. Better than expected headline inflation data from the Euro-Zone in February comes as a welcomed development for the economically-beleaguered region, although it does not come as […]

Bitcoin Rallies $14 Dollars, Stalls at $266

Bitcoin rallied $14 dollars today. After opening at $252.20, BTC/USD slowly gained ground until it reached a daily high of $268.51. After closing the session at $266.34, prices are currently stalling around the important $266 mark on BTC-E. Despite two hourly closes above $266, bitcoin has yet to clear the area and move higher. The […]

Brent Oil Rises Above $61

Brent crude oil prices were poised on Friday for their biggest monthly gain since 2009, lifting the outlook for the battered commodity. U.S. crude oil was set to end February with its first monthly rise in eight months, with signs of a pick-up in Chinese demand and supply outages in the North Sea lifting sentiment […]

Gold – Continues to Edge Higher off Support at $1200

Gold for Monday, March 2, 2015 Gold has done well over the last few days to enjoy some support at $1200 and rally higher to a one week high to finish last week, before easing a little. It is presently trading in a narrow range right below $1215 after easing back from $1220. For the […]

Week In FX – Fed Gives Nothing Away, Dollar in Demand

Fed sticks to lower for longer S CPI an excuse to buy more dollars Fed September hike fully priced in Central Banks rate announcements dominate proceedings As to be expected, the Fed dominated this past week. Although the markets did not get the anticipated price moves when Yellen was giving her testimony on the ‘hill’, […]

Euro to Look Past German CPI, US Dollar Looks to 4Q GDP Revision

Talking Points: Euro Unlikely to Find Fuel in German CPI Data as ECB QE Launch Looms Larger-Than-Expected US GDP Markdown May Send US Dollar Downward See Economic Releases Directly on Your Charts with the DailyFX News App Germany’s flash CPI data headlines the economic calendar in European trading hours. The headline year-on-year inflation rate is […]

Bitcoin Down 2 Percent, Foundation Elects New Members

Bitcoin is trading down 2 percent today. After opening at $247.55 BTC/USD stayed flat until a sell-off around mid-day took prices to a low of $238. Bitcoin rebounded somewhat from the daily lows and is currently quoted at $242.14 on BTC-E. As usual BTC prices are slightly higher on other exchanges with coins selling for […]

Bitcoin Hovers Below $250, Survey Says Customers Weary

Bitcoin’s rally stalled today, hovering just below the $250 figure. After opening the day at $249.05 BTC/USD fell to a low of $243.68, only to get back up and eventually close at $247.55. Few hours after the close we are trading barely changed at $247.46 on BTC-E, $252.25 on BitStamp and $253.58 on OKCoin. Here’s […]

Bitcoin Breaks Out, Closes Up $18 Dollars

Bitcoin’s range-bound trading has finally ended. Prices today broke out above the high of the range at $243 and spiked to $251 per coin before pulling back somewhat. The second push higher took BTC/USD to $252.19 before the bears took charge again and pushed the pair back below the $250 mark. We are currently trading […]

West TX Oil Down Near $48 on Rising U.S. Inventories

Ample global supply and increasing U.S. commercial inventories weighed on U.S. crude prices on Thursday after expectations for better demand going forward lifted prices a day earlier, traders and analysts said. U.S. crude settled 5.5 percent lower, or $2.82, at $48.17 a barrel, following a more than 3 percent gain in the previous session. Brent […]

Gold – Rallies Well off Support at $1200

Gold for Friday, February 27, 2015 Gold has done well over the last few days to enjoy some support at $1200 and rally higher to a one week high at $1220 before easing in recent hours. It is presently trading in a narrow range right below $1210 after easing back from $1220. For the last […]

GBP and EUR Data Gets Little Market Reaction

Yellen gives nothing away Investors prefer to wade out the month German debt print record low yields Bring on ECB and NFP It appears that the global investor is showing little reaction to Fed Chair Yellen’s second day of testimony on the hill yesterday. She provided no new hints on the timing or pace of […]

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