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Bitcoin Closes Lower, $350 Eyed

After several days of uneventful trading, bitcoin volatility is on a slight uptick! After opening at $368.75 BTC/USD fell to a low of $357.11. But unlike previous days, prices didn’t recover this time and after a brief pause, a second down move took prices to a new low of $355 flat. We are currently quoted […]

Week in FX – U.S and Canada Moving in Opposite Directions

U.S on course for jobs record Dollar goes “walkabout” ahead of holiday’s Canada takes the wrong route Loonie at a loss on jobs report Friday delivered a nonfarm payrolls (NFP) report that blew away the critics, conspiracy theorists, and jittery investors in one fell swoop. U.S. employers ramped up hiring in November, continuing a stretch […]

Gold – Drops Back Below Key $1200 Level Again

Gold for Monday, December 8, 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.  Over the last week gold traded in a narrow range under $1220 before falling sharply back below to close out last week.  In the few […]

US jobs report set to see the week out with a bang

The European session got off to a bright start on Friday as investors responded to reports that emerged after the close on Thursday that claimed the ECB is preparing a broad based quantitative easing package for January. These reports have yet to be confirmed and are unlikely to be given that ECB President Mario Draghi […]

Dollar, Yen Torn Between US Jobs Data and Year-End Capital Flows

Talking Points: US Dollar Needs Outsized Beat on Payrolls Print to Refuel Upward Drive Yen May Rise After Overnight Drop on Year-End Flows After NFP Report German Factory Orders, Eurozone GDP Revision Unlikely to Stir the Euro A relatively muted economic calendar in European trading hours puts the spotlight on US Employment figures. The report […]

Bitcoin’s Range Continues to Shrink Ahead of Auction Results

Bitcoin’s daily range continues to narrow. After yesterday’s $8.35 dollars, today the range dropped to a mere $5 dollars. After opening at $368.24, prices dropped to a daily low of $365.61. But the fall was quickly negated by a rally that took prices to $370.99 in the next few hours. For the rest of the […]

Bitcoin Daily Range Drops to $8 Dollars

Bitcoin is continuing to trade in a tight range. After opening the day at $370.87 prices fell to a daily low of $364 flat. As you can probably guess, the lows got bought up and in the next few hours BTC/USD was back above the $370 mark. We are currently quoted at $368.50 on BTC-E, […]

Bitcoin Slightly Up, Tim Draper Outbid On All But 2,000 BTC

Bitcoin is trading slightly up today. After opening the day at $364.50, BTC fell to a low of $360.44, only to rally back up in the late part of today’s session. We are currently trading right above the $370 mark on BTC-E. This compares to $376 on BitStamp and $378 on OKCoin. The chart below […]

Draghi and ECB Have A Minimum Requirement

BoE non-event risk in pipeline Draghi’s headaches persist What’s the ECB’s minimum requirement? EUR expectations if disappointed The threat of global central bank action is managing to keep the various assets classes moving. Whether it’s the Central Bank of Russia (tighter monetary policy next week?), the People’s Bank of China (easing of monetary policy?), the […]

Gold – Continues to Remain Steady Above Key $1200 Level

Gold for Friday, December 5, 2014 After finally making its way back to the key $1200 level, gold has spent the last few days trading in a narrow range under $1220.  In the last couple of weeks prior, gold made repeated runs at the resistance level at $1200 failing every time, which then resulted in […]

ECB may announce stimulus measures but QE unlikely

ECB may announce stimulus measures but QE unlikely; No change expected from the BoE; US jobless claims seen falling back below 300,000. The European Central Bank meets today and while the consensus view appears to be that no further stimulus will be announced, there is a growing expectation in the markets that the central bank […]

Trade Setups in EUR/USD, EUR/GBP Ahead of ECB

Talking Points: EURUSD holds lows ahead of last ECB meeting of 2014. EURGBP moves into lower half of symmetrical triangle. See the ‘high’ importance events on the DailyFX Economic Calendar. Due to incoming inflation data and persistently falling inflation expectations, policymakers have found it necessary to keep the door open for sovereign QE, despite the […]

Bitcoin Auction Attracts Less Bidders, Pantera Aims Below Market

Ten hours after the close of the second bitcoin auction, prices are trading more or less unchanged. This is despite two reports earlier in the session that indicate a negative auction outcome. After opening at $364.50 BTC fell to a low of $360.54. From here, we rallied $4 dollars back to the day’s open and […]

Bitcoin Trades Weaker as Second Auction Ends

Bitcoin is trading weaker on auction day. Prices opened at $370.62, from here we had a small move up to $373.98 but soon after BTC got sold and in the next few hours we hit a low of $362.56. We are currently trading just shy of the lows at $364 per coin on BTC-E. As […]

West TX Oil Sits Above $67 with Jobs Data in Focus

U.S. crude futures extended gains towards $68 a barrel on Thursday, buoyed by positive inventory data.  Investors are turning their focus to U.S. jobs data due on Thursday and Friday for clues on the strength of demand in the world’s largest economy and oil consumer. U.S. crude futures had risen 31 cents to $67.69 a […]

How Low Can The EUR Go?

Swiss the ‘only’ lovers of the EUR More rhetoric from Draghi and company Aussie negotiates a new record low CBR rumored to be trigger happy Who cares? Just as long as you are not ‘long’ any it seems — except perhaps against the CHF. The Swiss National Bank (SNB) appears to be the only entity […]

USDCHF reaches resistance & response key to outlook

The USDCHF pair has rebounded lower from a major resistance trendline which represents the upper level of an ascending wedge. The long term outlook for the pair is bullish, yet should we fail to see a break higher, then this may be a short term top to continue the consolidation seen in recent weeks. The […]

US Dollar May Look Past Conflicting Data, Rise on Fed Beige Book

Talking Points: Aussie, Kiwi Dollars Drop After Disappointing Australian 3Q GDP Report British Pound Looks to Composite PMI Data to Inform BOE Policy Outlook US Dollar May Rise as Upbeat Fed Beige Book Keeps Rate Hike Bets Alive The Australian Dollar underperformed in overnight trade, falling as much as 0.6 percent, following a disappointing GDP […]

Bitcoin Pushing on $370, Citi Expects Bearish Auction

Another uneventful day in bitcoinland. After opening at $371.56 prices rallied to $382.31 and again, like clockwork, the highs got sold and few hours later BTC/USD was trading at a daily low of $367.99. We are currently trading slightly below the $370 mark on BTC-E. Prices are higher on OKCoin at $378 and BitStamp at […]

West TX Oil Steadies Around $68 as Crude Inventories Drop

U.S. crude futures gained more than one percent on Wednesday, rising close to $68 a barrel, after industry data showed a larger than expected drop in crude oil inventories in the United States. U.S. crude for January was at $67.76 a barrel by 2353 GMT, up 88 cents, after dropping more than $2 in the […]