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Oil Stable After China Stimulus

Oil stabilized on Wednesday after China’s central bank moved to support the country’s economy, but prices stayed near 6-1/2-year lows as a heavy supply glut kept the market outlook bearish. “Oil is catching its breath a bit and seeing if markets have been oversold or not,” Capital Economics commodities economist Thomas Pugh said. Brent LCOc1 […]

EURUSD – Seeking Confirmation of Monday’s Break

We’re seeing a rebound in the dollar following a strong start to the day following comments from FOMC voting member William Dudley, who claimed that a September rate hike looks less compelling. While this isn’t necessarily a surprise given the extreme levels of market volatility as of late and growing concern over emerging markets and […]

GBPUSD – Big Test for Major Support

Cable has looked quite bullish since bottoming out in April but it looks as though its failure to break through the 50 fib level – 15 July highs to 13 April lows – back in June was a warning that the bullish move is losing steam. As you can see on the daily chart below, […]

Euro, Yen Drop as China Stimulus Lifts Market Spirits. Will it Last?

Talking Points: Yen, Euro Drop on China Stimulus But Risk Appetite Boost May Be Fleeting US Durables Data, Fed Commentary in Focus as Markets Look for Guidance See Economic Releases Directly on Your Charts with the DailyFX News App The Japanese Yen and the Euro faced selling pressure in overnight trade as stocks recovered across […]

Bitcoin Continues Gains After Reversal

After yesterday’s strong reversal, bitcoin today closed higher by $5 dollars on BTC-E and $3 dollars on OKCoin. On OKCoin we opened at $222.51, fell to a low of $218.32 before rallying all the way to $230 dollars per coin. But by the end of the session most of those gains evaporated and BTC/USD closed […]

Gold – Strong Selling After Failed Breakout

Despite an apparent flight for safety and sell-off in the dollar on Monday, there was little love for Gold which usually does well in these circumstances. Gold was trading at a key resistance level around $1,170 where the descending trend line – 22 January highs – intersects a prior level of support and the 61.8 […]

China Lowers Interest Rates

China’s central bank cut its benchmark lending rate for the fifth time since November and lowered the amount of cash banks must set aside, stepping up efforts to cushion a stock market rout and deepening economic slowdown. The one-year lending rate will drop by 25 basis points to 4.6 percent effective Wednesday, the Beijing-based People’s […]

Dollar Attempts Comeback

PBoC cuts rates and reserve requirements Will China’s actions stem the current equity rout? China’s cut bring much needed stability Dollar finds some much needed support China’s equity markets now seem to be isolated with their equity rout continuing (down -7.63% Tuesday) as concerns about a hard economic landing remain. Currently, the world’s second largest […]

Currencies Eyeing German, US Data as Market Selloff Seeks Fresh Fodder

Talking Points: Aussie Dollar Gains, Yen and Euro Fall as Risk Aversion Takes a Breather German, US Economic Data in Focus as Market Selloff Seeks Fresh Fodder See Economic Releases Directly on Your Charts with the DailyFX News App The Australian Dollar outperformed in overnight trade, rising as much as 1.7 percent on average against […]

Bitcoin Bounces From $192 Lows

Bitcoin had a strong bounce from the $192.55 low set earlier in the session. We are currently quoted at $217 dollars on BTC-E, only $4 dollars below the yesterday’s daily open and $25 dollars higher compared to the lows. To keep things in perspective however, BTC/USD is still down by $93 dollars from the highs […]

Five Charts That Prove This Selloff Is Serious

Stock markets around the world seem to be already in confirmed selloff territory or very close to it. Here, we take a look at some key charts which demonstrate why this pessimistic mood looks set to continue. Shanghai Composite Index over 3 months Was this where it all began? China’s benchmark index is one of […]

European Wrap – China Losses Prompt Market Panic

It’s been an exceptional start to the trading week as sheer panic has gripped the markets following the sell-off in Asia overnight, prompting a record jump in volatility, as measured by the VIX. The VIX rose to the highest level since January 2009 as investors panic dumped equities and other risk assets.CBOE Market Volatility Index […]

Market Focuses On Euro, Yen Carry Trade Unwind

PBoC holds off on easing, global equities plummet Safe haven flows and equity liquidation dominate Carry-trade: massive unwinding continues Will Jackson Hole Summit provide clues? Capital markets continue to see red as risk aversion flows have switched into a higher gear; worries over a China slowdown, FOMC policy uncertainty, and disinflationary macro environment continue to […]

Euro and Yen Capitalize as Risk Aversion Sweeps Financial Markets

Talking Points: Kiwi Dollar Underperforms as RBNZ Compounds Pressure from Risk Trends Euro Joins Japanese Yen in Capitalizing on Sharp Carry TradeLiquidation See Economic Releases Directly on Your Charts with the DailyFX News App The Australian, Canadian and New Zealand Dollars underperformed in overnight trade as risk aversion continued to sweep financial markets, weighing on […]

Bitcoin Trades Below $200 Dollars

The downtrend in bitcoin prices accelerated today as prices traded below $200 dollars per coin on all major exchanges. This is the first time BTC/USD has traded this low since January of this year. On BTC-E we opened at $221.68 then proceeded to decline slowly to $201.19. But the bounce near $200 was short-lived and […]

EURUSD – Closing in on Massive Resistance

The euro has continued its impressive move higher for a third day on Friday, having rallied 2.75% off Wednesday’s lows, where it found support from the descending trend line it broke above the week before.The pair has broken through 1.13 with relative ease despite facing initial resistance prompting a small correction. This has opened up […]

Gold – Strong Rejection at Big Resistance Level

Another strong start to the session for Gold saw it rally towards $1,168.50 this morning, slightly beyond the price projection highlighted on Wednesday (Gold – Bullish Flag Broken Ahead of FOMC Minutes). The yellow metal ran into resistance just above here though, with the 61.8 fib level – 18 May highs to 20 July lows […]

Markets See Red With Risk Aversion In Full Swing

Divergent trading themes confuse markets EM Currencies print multi year lows China has reason to adjust its RRR this weekend Geopolitical worries supports safe haven demand It’s relentless and there is no let up in sight anytime soon. Investors are trading divergent trading themes, which is resulting in volatile and confusing markets for all participants […]

Aussie Dollar Sinks, Yen Gains as Risk Aversion Grips the Markets

Talking Points: Aussie Dollar Down, Yen Higher as Chinese PMI Compounds Risk Aversion S&P 500 Futures Point to Respite in Market Liquidation into the Week-End See Economic Releases Directly on Your Charts with the DailyFX News App Risk aversion defined currency market price action in overnight trade. The sentiment-linked Australian Dollar underperformed while the Japanese […]

Bitcoin Headed for Third Daily Loss

Bitcoin is headed for its third consecutive daily loss. Today we opened at $223.11 on BTC-E, spiked to a high of $228.29 in the first hour before falling to a daily low of $219.85 later on. We are currently quoted at $221.03, above the lows but $2 dollars (0.94 percent) below the daily open. If […]

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