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Bitcoin Barely Changed, Gemini Waits for BitLicense

Bitcoin looks set to close unchanged on the day. After opening at $221.21, everyone’s favorite virtual currency fell to a low of $216.69. From here we had a brief rally that hit $227 around mid-day. But as the day progressed bitcoin gave up all the gains and traded down to the day’s open at $221 […]

Bitcoin Stabilizes Around $226 in Slow Session

Bitcoin prices have been moving above and below the $226 mark all day. After opening at $227.04 we rallied to a high of $234.99, only to fall back to a low of $218.84 few hours later. We are currently quoted at $221 on BTC-E, $228 on OKCoin and $230 on BitStamp. The stabilization is now […]

Oil Near Six Year Low as Supply

Crude oil fell to the lowest level in almost six years in New York as rising production swells U.S. stockpiles. West Texas Intermediate dropped as much as 2 percent, widening its discount to Brent to the most in a month. U.S. crude supplies rose to the highest level in weekly data going back more than […]

Gold Lower as Fed Talks Positive About US Economy

Gold prices continue to weaken on Thursday, following the Federal Reserve policy statement. In the European session, the metal is trading at a spot price of $1269.87. Gold has dipped 1.7% since early on Wednesday and is trading at a two-week low. On the release front, today’s key events include Unemployment Claims and Pending Home […]

EUR/USD Tests 6-Week Trend as SNB Meddles with EUR/CHF

Talking Points: EURUSD tests strength of trend since December 17. NZDUSD breakdown eyes move towards 0.7100. See the DailyFX Economic Calendar for Thursday, January 29, 2015. Traders are grappling with a seemingly contradictory FOMC statement, the RBNZ’s neutral pivot, and potential SNB intervention. The lack of central bank transparency has been quite shocking in the […]

Bitcoin Decline Pauses, More Exchange News

Bitcoin paused the decline near the $226 mark today. On BTC-E prices got as low as $212 before reversing course. The subsequent rally took BTC/USD to a daily high of $233.52. We are currently trading just below the highs at $228 flat. As usual, prices are slightly higher on OKCoin at $331 and BitStamp at […]

Oil Remains in the Dumps

Oil prices opened up weak on Thursday in Asia after record U.S. stockpiles sent it tumbling to near six year lows in the previous session, and analysts said that the outlook remained weak. U.S. crude prices tumbled on Wednesday after the U.S. reported record-high inventories that raised anxieties about the global oil glut that had […]

Will Yellen and the Fed Change the Record?

Singapore’s MAS flatfoots market Central banks want to recalibrate rate policies Will the Fed change record? Can the “big” dollar be contained by FOMC’s decision? Central banks that are unwilling to commit to something monetary, either through action or verbally, are in danger of keeping their own domestic currencies supported. Monetary authorities are in the […]

Gold – Continues to Consolidate in Narrow Range Above $1280

Gold for Thursday, January 29, 2015 Gold has enjoyed a very solid last few weeks as it has surged to a five month high near $1308, before easing back a little in the last several days remaining above $1280 in the process. To start last week it had just eased back a little and steadied […]

Dollar Suffers First Two-Day Drop In 7 Weeks Before Fed

Talking Points: Dollar Suffers First Two-Day Drop In 7 Weeks Before Fed Euro Traders Should Be Cautious as Currency Extends Rebound After Greek Election British Pound Climbs after UK GDP Posts Strongest Growth Pace Since 2007 Dollar Suffers First Two-Day Drop In 7 Weeks Before Fed The Dow Jones FXCM Dollar Index (ticker = USDollar) […]

Bitcoin Trades Weaker for a Second Day

Bitcoin is trading weaker for a second day. After opening at $252.02 BTC/USD continued the downward momentum, reaching a low of $242.22 in the early US trading session. We are currently trading not far from the daily low at $245 on BTC-E, $251 on both OKCoin and new Coinbase exchange and $253 on BitStamp. The […]

West TX Oil Remains Around $45

WTI crude rose more than 3 percent on Tuesday as a weaker dollar propped up commodities priced in the currency, prompting short-covering in a market that has sold off with little pause over the past seven months. Even so, gains in oil were capped by fears of another large build in U.S. crude stocks, traders […]

Swiss Central Bank Takes Another Swipe at the EUR

SNB rumors hurts EUR Currency pairs trying to take a breather Recycle EUR’s to improve portfolio average Stateside weather postpones debt issues As most of the east coast of the U.S. focuses on the “historic” snowstorm of all proportions, rumored Swiss National Bank (SNB) action during the European session this morning has taken a swipe […]

Gold – Consolidates in Narrow Range Below $1300

Gold for Wednesday, January 28, 2015 Gold has enjoyed a very solid last few weeks as it has surged to a five month high near $1308, before easing back a little in the last several days. To start last week it had just eased back a little and steadied below the $1280 level after surging […]

Pound May Rise as 4Q UK GDP Data Boosts BOE Rate Hike Bets

Talking Points: British Pound May Rise as Firm 4Q GDP Figures Boost BOE Rate Hike Bets Australian Dollar Edges Higher on Swelling Risk Appetite in Overnight Trade See Economic Releases Directly on Your Charts with the DailyFX News App The preliminary set of fourth-quarter UK GDP figures headlines the economic calendar in European trading hours. […]

Bitcoin Falls $12, More Coinbase News

Bitcoin continued the decline today, falling by another $12 dollars. After opening the day at $264.08 BTC/USD traded down to a low of $241 by mid-day. The fledgling cryptocurrency spent the rest of Tuesday recouping some of the losses, eventually closing at $252 flat. We are currently quoted at $254 on BTC-E, $263.50 on BitStamp […]

Pricing EUR’s QE, Not Future Greek Talks Just Yet

Syriza win ‘big’ Form coalition with center-right fringe party EUR touched sub €1.11 new-lows Market pricing QE vs. anti-austerity talks Greece’s radical left-wing Syriza party is set to become the first anti-austerity party to lead a eurozone nation. Most of the market had expected Syriza leader Alexis Tsipras and his party would be victorious, but […]

West TX Oil Drops Below $45 on Global Glut

Crude oil fell to the lowest in almost six years after OPEC Secretary-General Abdalla El-Badri said that there was about 1.5 million barrels a day of excess supply. Oil slipped 1 percent in New York, reversing an intraday gain of 1.8 percent that followed comments by El-Badri that OPEC is open to talks with outside […]

Gold – Eases Back From $1300

Gold for Tuesday, January 27, 2015 Gold has enjoyed a very solid last few weeks as it has surged to a five month high near $1308, before easing back a little in the last few days. To start last week it had just eased back a little and steadied below the $1280 level after surging […]

Contagion Contained as Euro Rebounds Post-Greek Elections

Talking Points: EURUSD hits fresh 11-year low below $1.1100 before rebounding. Non-EUR: NZDUSD looks vulnerable w/ FOMC, RBNZ on Weds. See the DailyFX Economic Calendar for Monday, January 26, 2015. One can’t help but think that part of the ECB’s motivation to get its QE program off the ground last week was to buffer financial […]

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