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Gold Steady Ahead of Host of US Numbers

Gold is showing little movement on Tuesday, as the spot price stands at $1177.61 per ounce. On the release front, there are a host of US events ahead of the Christmas holiday. There are four key events on the calendar – Core Durable Goods Orders, Final GDP, UoM Consumer Sentiment and New Homes. With the […]

USD Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast

Talking Points: Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast Euro Finds Too Little Traction, Too Late Yen Crosses Advance after BoJ Downgrades Growth Assessment Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast A drain in liquidity often translates into a moderation in heavy exposure or one-sided […]

Bitcoin Continues Offensive as Holiday Season Nears

Bitcoin is continuing its attack on the $332 level. Earlier today we bounced off $332.92. After a small retracement to $326.66, BTC/USD is back on the offensive, hitting a high of $334.46 before pulling back. We are currently quoted at the $330 round figure on BTC-E. Prices are higher on other exchanges, $335 on OKCoin […]

The Three Things Fueling FX Market Volatility Throughout 2015

The dearth of currency market volatility in 2014 that sank to historic lows last summer appears to be consigned to history. Put simply, there are too many economic and geopolitical variables that erupted over the latter half of the year that ignited the FX market, and those themes will carry over into 2015. The U.S. […]

Gold Unchanged Ahead of US Housing Numbers

Gold is showing little movement on Monday, as XAU/USD trades slightly below the $1200 level. In the European session, the spot price stands at $1195.94. It could be a quiet week for gold ahead of the Christmas holiday. On the release front, today’s sole event is US Existing Home Sales. The markets are expecting the […]

US Dollar May Rise if Home Sales Top Estimates, Boosting Fed Outlook

Talking Points: New Zealand Dollar Down on Soft 4Q Westpac Consumer Confidence Data Risk Appetite Firms in Overnight Trade, Driving the Aussie Dollar Upward US Dollar May Rise as Home Sales Data Amplifies Fed Rate Hike Outlook The New Zealand Dollar underperformed in overnight trade, falling as much 0.5 percent on average against its leading […]

Bitcoin Stuck Between Double Top and Double Bottom

Bitcoin bounced off the important $330 figure again. Earlier today, BTC/USD rallied from $315 per coin to a high of $332.03 before retracing somewhat. We are currently quoted at $325 on BTC-E, $329 on BitStamp and $330 on OKCoin. The chart below shows the price action of the last few days, including the recent double […]

Week in FX – Patient Fed Soothes Jittery Markets

Fed’s message brings season tidings BoJ Keeps Status Quo Abe’s cabinet to approve stimulus soon Market makes a beeline for the ‘turn’ Capital markets are poised to fall silent as the holidays are about to begin in earnest. It’s in hot pursuit of the broad-based risk-on rally that has given U.S. equities their biggest two-day […]

West TX Oil Settles Below $55

Global crude prices fell again on Thursday, a day after a short-covering rally, as traders placed new bets that the market would resume a six-month rout on worries about a supply glut. In early trade, oil extended gains from the previous session, when short-covering lifted prices more than $3 a barrel. But in late morning […]

BoJ remains steady, yet bullish markets push higher

FOMC continues to drive bullish sentiment BoJ keeps stable yet election provides renewed mandate German GFK survey looking to top off strong week. The end of a memorable week in the markets, which seemed likely to go out with somewhat of a whimper given the relative lack of events to get the market moving. However, […]

Yen Down on Risk Appetite Swell But Year-End Flows May Fuel Turn

Talking Points: Return of Year-Capital Flows May Reboot Pre-FOMC Price Action Trends Yen Down, Aussie and NZ Dollars Higher as Risk Appetite Swells Overnight See Economic Releases Directly on Your Charts with the DailyFX News App The safe-haven Japanese Yen slumped while the sentiment-geared Australian and New Zealand Dollar advanced as risk appetite firmed overnight. […]

Bitcoin Little Changed After Volatile 24 Hours

Bitcoin is trading little changed after a volatile 24 hours. Prices rallied from $315 to a high of $330.02 yesterday. But after topping out at $330, BTC/USD proceeded to lose all the gains. We are currently quoted at $315 per coin on BTC-E, $319 on BitStamp and $321 on OKCoin. In our article yesterday, we […]

Bitcoin Double Bottoms Near $300, Next Move Awaited

Bitcoin’s double bottom near $300 survives, for now. Today’s foray lower stopped at $304.98, around $1 dollar higher compared to yesterday’s low at $304.05. Since hitting the lows BTC rebounded somewhat, peeking at $317.50 later in the day. We are currently quoted at $315 per coin on BTC-E. As usual, prices are slightly higher on […]

Will Negative Swiss Rates Reduce CHF Demand?

SNB goes negative in January Market assess policy moves by Fed and SNB EUR under pressure from intervention demands Yen bears relieved with higher U.S. yields Over the past 24 hours, capital markets have managed to navigate the last of the significant central bank scheduled meetings for this calendar year with the conclusion of the […]

Gold – Resistance at $1200 Continues to Stand Tall

Gold for Friday, December 19, 2014 The last week or so has seen gold ease lower away from the resistance level at $1240 back down to find support at $1220 however several days ago it fell sharply back through the key $1200 level where it is now meeting strong resistance.  Gold enjoyed a solid surge […]

Data heavy day ahead with focus on UK, US and Germany

Fed takes more cautious approach on rates and retains “considerable time” pledge; German Ifo surveys and UK retail sales the focus this morning; Lots of US data to come later including jobless claims and PMI readings. Investors were given a small boost overnight which is driving index futures higher ahead of the open as the […]

Bitcoin Retests $300, Lawsky Announces Changes to BitLicense

Bitcoin is making another move for the $300 round figure. Earlier today, prices got as low as $304.98 before recovering somewhat. We are currently trading slightly above the lows at $308.65 on BTC-E. Prices are slightly higher on OKCoin and BitStamp at $310 a piece. Today’s trading session may be decisive in determining whether the […]

Swiss Franc Sinks as SNB Surprises with Negative Interest Rates

Talking Points: Swiss Franc Sank After SNB Unexpectedly Unveiled Negative Interest Rates US Dollar May Turn Lower as Markets Rethink FOMC Outcome Implications See Economic Releases Directly on Your Charts with the DailyFX News App The Swiss Franc slumped after the Swiss National Bank unexpectedly dropped interest rates into negative territory at -0.25 percent. The […]

Bitcoin Extends Move Lower, $304 Hit

After breaking past $319 yesterday, bitcoin extended the move lower to $312. The downtrend continued today with more losses to $304.05. After the lows prices rallied on BTC-E, spiking to a high of $319.45 four hours ago. But when the other bitcoin exchanges didn’t follow the move and remained flat, price fell back down. We […]

West TX Oil Rallies to $56 on Falling Crude Inventories

Oil prices jumped on Wednesday as U.S. data showed falling crude inventories, stemming deep losses brought on by a supply glut and signals from OPEC producers and Russia that they will not cut production. WTI crude closed 54 cents higher at $56.47 per barrel after surging to a session high of $58.98. It touched its […]