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Top Trade Idea For December 12th, 2014 – EUR/JPY

On Monday (Sunday night), the Tankan manufacturing indices for Q4 are released in Japan, along with Tokyo condominium sales. Weaker industrial production and capacity utilisation numbers this morning have expectations trending down, but the Yen has not fallen with them. This may mean that the weaker reads are already priced in. With no major European […]

West TX Oil Below $59.50 as Producers Tussle for Market Share

Oil extended losses below $60 a barrel amid speculation that OPEC’s biggest members will defend market share against U.S. shale producers. Brent also slid after closing at the lowest price since July 2009. West Texas Intermediate futures fell as much as 1.9 percent in New York and are down 10 percent this week. Iraq, the […]

Gold – Steadies Below Resistance of $1240 Around $1225

Gold for Friday, December 12, 2014 After surging so well a couple of days ago Gold has been content to consolidate and just slowly ease away from the resistance level at $1240 over the last day or so. Gold enjoyed a solid surge higher up from the key $1200 level to a new six week […]

AUDNZD breaks trendline and tests major support

The AUDNZD pair has been selling off sharply over the past two days. This break below a key trendline yesterday brought about more selling and has found support on a major level. That being said, this week’s break brings the pair into a much more dangerous position and makes it look like we could see […]

Euro Traders Prepare for Direct Stimulus Update

Talking Points: Dollar and S&P 500 Suffer Worst Declines Since October Panic Euro Traders Prepare for Direct Stimulus Update Swiss Franc Potential Lopsided in SNB Rate Decision Dollar and S&P 500 Suffer Worst Declines Since October Panic ‘The Dollar’s safe haven status is broken’? That seems to be a claim be made more often these […]

Bitcoin Surrenders Most Post-Microsoft Gains

Since our last update, bitcoin surrendered most of the post-Microsoft gains. Prices fell from a high of $356 per coin to a low of $339.60 yesterday. We are currently quoted not far from the lows at $342.50 on BTC-E. As usual, prices are higher on BitStamp at $350 and OKCoin at $348. We’ve seen this […]

USD: Big Year-End Squeeze in the Making?

China incites negative momentum trading Aussie temp cools, Kiwis will know later Is it Easy Street for Abe? Just when you thought it was safe to go back into the water, along comes another wave of negativity that less nimble investors are drowning in as capital markets prepare to closeout an extraordinary year. Disappointing data […]

Gold – Steadies Below Resistance at $1240

Gold for Thursday, December 11, 2014 After surging so well a couple of days ago Gold has been content to consolidate and just slowly ease away from the resistance level at $1240 over the last day or so.  Gold enjoyed a solid surge higher up from the key $1200 level to a new six week […]

Bitcoin Reverses Losses on Microsoft Announcement

Bitcoin volatility continues to increase. Today’s daily range is already at $23.49 dollars and we’re only 10 hours into the session. After opening the day at $340, the initial fall lower took prices to $332.51. From here BTC/USD reversed all the losses and then some as news spread that Microsoft will start to accept BTC […]

Gold turns bearish as fib holds strong for second day

Gold has rallied well since reaching lows of $1131.88 on 7 November but throughout this rally, there’s been a feeling that this was nothing more than a retracement in the longer term downtrend. The only question was how big a retracement it was going to be. The yellow metal has reached a key level in […]

Japanese Yen May Outperform Amid Profit-Taking on Top 2014 Trades

Talking Points: Yen Outperformed on Safe-Haven Flows Amid Risk Aversion in Asian Trade Quiet European, US Data Docket May Keep Seasonal Forces in the Spotlight See Economic Releases Directly on Your Charts with the DailyFX News App The Japanese Yen outperformed in overnight trade, rising as much as 0.8 percent on average against its leading […]

West TX Oil Settles Above $63 on Weaker U.S. Dollar

The January contract for U.S. crude oil settled higher on Tuesday after touching a more than five-year low earlier in the session as players sought a sustainable price for oil in a market haunted by oversupply concerns. WTI futures settled up 77 cents at $63.82 on the Chicago Mercantile Exchange, after swinging between a high […]

Gold – Surges to Six Week High Near $1240

Gold for Wednesday, December 10, 2014 Gold has enjoyed a solid last 24 hours surging up from the key $1200 level to a new six week high just shy of a previous resistance level at $1240.  Gold has had a fascination with the $1200 level over the last few weeks which has seen it trade […]

Chinese bond market, Greece and Fed weigh on markets

Chinese sell-off overnight weighs on sentiment in Europe and the US; Greek snap election possible as Samaras brings forward Presidential election; Speculation of more hawkish Fed spooks investors; UK GDP estimate and US job openings data in focus. It appears we’ve entered the week of the jitters in which any news is perceived to be […]

USDOLLAR Index at Risk of Near-Term Top

Talking Points: USDOLLAR Index threatens uptrend from late-November pivot low. Watching post-ECB highs in EURUSD near 1.2455. See the ‘high’ importance events on the DailyFX Economic Calendar. The broader USDOLLAR Index may have broken to fresh yearly highs last week after the stronger than expected November US labor market report, but there has been little […]

Bitcoin Auction Results and Black Friday Stats Pose Questions

Bitcoin is continuing the downward movement. After opening at $358.93, BTC/USD fell over $20 dollars to hit a daily low of $337.94. But bitcoin didn’t stay low for long and prices soon bounced off the $339 mark. We are currently quoted at $346.11 on BTC-E. Since we didn’t even get an hourly close below the […]

West TX Oil Drops Below $63 as Selling Continues

World oil prices slid another 4 percent to new five-year lows on Monday, as expectations of a deeper slump next year and a prediction by a core OPEC member that crude will remain at $65 for several months triggered another round of selling. U.S. crude oil settled 4.2 percent lower at $63.05 per barrel, at […]

Gold – Continues to Gravitate Around $1200

Gold for Tuesday, December 9, 2014 Gold has had a fascination with the $1200 level over the last few weeks which has seen it trade either side of this level.  In the last 24 hours it has again surged back above it to be presently just trading above.  Over the last week gold traded in […]

Disappointing Asian data weighs ahead of European open

Chinese trade balance figures disappointing despite deceiving headline figure; Japanese GDP revision highlights further weakness in Q3; German industrial production and eurozone confidence readings in focus today. Disappointing data from China and Japan is weighing on European futures ahead of the open on Monday, as concerns about the state of two of the largest Asian […]

Euro May Fall if ECB ABS Purchase Results Reveal Timid Effort

Talking Points: Euro May Fall if Timid ABS Purchase Effort Fuels “Sovereign QE” Outlook NZ Dollar Falls Before RBNZ Rate Decision, Aussie Down on Chinese Data See Economic Releases Directly on Your Charts with the DailyFX News App The European Central Bank will be in the spotlight in European trading hours as it announces the […]