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Bitcoin Trading Flat Ahead of Black Friday

Bitcoin is trading flat ahead of the ”Black Friday” event. After opening at $363.78, prices fell slightly to $361 per coin but BTC recovered soon after. In the next few hours, a high of $369.99 was reached. This is where most of the action stopped however and BTC/USD spent the rest of the day in […]

FX Market Volatility Will Return with Vigor in 2015

Rate Divergence Will Spur Volatility Commodity Prices under Pressure Emerging Markets Stuck in a Hard Place Central bank interest rate divergence, geopolitical events, and global growth expectations have been the three primary drivers of FX market volatility in late 2014, and these themes will continue to dominate the currency trade well into 2015. With so […]

OPEC Mixed on Oil Production Cuts as Shale Threat Rises

The two main drivers of the price of oil have been an increase of production in the U.S. with the use of shale oil technology, and a lower demand for energy as global growth slows. Geopolitical turmoil has taken a backseat to those two factors. Even rising violence in oil producing states has not deeply […]

Quiet day sees focus upon overall market sentiment

Quiet day sees focus upon overall market sentiment US GDP and consumer confidence paint alternate pictures UK GDP ahead. European markets are expected to move higher this morning, following a largely positive session overnight in Asia. The inability of the US markets to reach fresh highs did little to dampen investor sentiment elsewhere despite a […]

Japanese Yen May Rise as Year-End Capital Flows Begin to Emerge

Talking Points: Japanese Yen May See Recovery as Year-End Capital Flows Start to Emerge British Pound Looks to 3Q GDP Revision to Inform BOE Rate Hike Outlook US Dollar May Rise on Fed Tightening Bets if News-Flow Proves Supportive Seasonal factors may increasingly factor into price action as the on-coming Thanksgiving holiday in the US […]

Bitcoin Trading Little Changed as Range Narrows

Bitcoin is trading little change today. Prices opened at $371 and after a very small move to $374 we fall back down to a low of $362. We are currently quoted just below the $365 mark at $364.80. Prices are higher on OKCoin at $369 and BitStamp at $367 per coin. Here’s a one hour […]

Oil Continues to Slide Before OPEC

Crude oil dropped, extending declines after closing at the lowest level since 2010, on concern OPEC members may fail to agree on cuts to output when they meet this week. The yen headed for its first back-to-back gain this month and Australian stocks climbed. West Texas Intermediate crude slipped 0.4 percent to $73.77 a barrel […]

Gold – Remaining Steady Around Resistance at $1200

Gold for Wednesday, November 26, 2014 Over several days last week Gold made repeated runs at the resistance level at $1200 and failed every time, before finishing the week breaking through ever so slightly.  For all of this week gold has been trading right around the key $1200 level as it attempts to make a […]

Inflation report hearing to dominate European session

Nikkei rises despite less dovish minutes OPEC meeting expected to see oil output cut German GDP expected to confirm avoidance of recession BoE inflation report hearing put pressure on Carney over falling inflation. A cautious yet positive start to the day is expected for the European markets today, following the establishment of record highs in […]

Dollar Reaches Fresh Five-Year High with Little Enthusiasm

Talking Points: Dollar Reaches Fresh Five-Year High with Little Enthusiasm Euro Rebounds as ECB Ranks Break on Push Towards Open Stimulus Yen Crosses Heading for Breakout as Currency Warning Weighs Dollar Reaches Fresh Five-Year High with Little Enthusiasm Another day and another five-and-a-half year high for the Dow Jones FXCM Dollar Index (ticker = USDollar). […]

Bitcoin Down 1 Percent, Black Friday Deals Tomorrow

Bitcoin is trading down 1 percent today, after a mid-day reversal erased most of the gains from yesterday&today. After opening at $376.87, BTC/USD continued the rally, eventually hitting a high of $388.99. But prices didn’t stay high for long and one hour later BTC already lost 1.5%. As the day progressed, the losses continued and […]

OPEC May Spare Three Nations From Oil Cuts

OPEC is considering exemptions for three nations from any potential oil-production cuts, two people with knowledge of the proposal said. Saudi Arabia’s oil minister said he doesn’t anticipate a difficult meeting when the group meets on Nov. 27 to decide its response to slumping crude. Iraq, Iran and Libya wouldn’t have to reduce supplies should […]

Gold – Struggling at Resistance at $1200

Gold for Tuesday, November 25, 2014 Over several days last week Gold made repeated runs at the resistance level at $1200 and failed every time, before finishing the week breaking through ever so slightly, although it is now slightly below $1200 and experiencing resistance there.  In the last couple of weeks Gold has enjoyed a […]

USDCAD finds moving average support

The USDCAD pair finally broke below a major support level on Friday, yet with a major moving average now limiting further downside, it will be interesting to see how the pair reacts between these two key levels as a means to gauge the direction in coming weeks. The weekly chart below shows that the pair […]

Aussie and NZ Dollars Rise, Yen Drops as China Expands Stimulus

Talking Points: Aussie and Kiwi Dollars Rise, Yen Drops as China Expands Stimulus Effort Euro Unlikely to Find a Lasting Catalyst in German IFO Survey Outcome See Economic Releases Directly on Your Charts with the DailyFX News App The Australian and New Zealand Dollars outperformed in overnight trade after China expanded monetary stimulus efforts, cutting […]

Bitcoin Close to Reversing Auction Announcement Losses

The bullish bias cited in my roundup yesterday extended to a small rally today. The break of the $365-370 resistance lead to more gains toward $380 with prices hitting a high of $384.65 two hours ago. We are currently trading just below the highs at $381 per coin. As usual, prices are quoted slightly higher […]

Week in FX Europe – Draghi Hands Ammo to Euro Bear

Draghi’s Dovish Remarks Suffocate EUR Market expects ECB to announce new measures in December Greater Euro/U.S rate divergence needs to be priced The euro bear got a subtle hint yesterday to consider “not” booking any EUR profits just yet, all because the EUR bull happened to be blinded by flash purchasing mangers’ index (PMI) numbers. […]

Gold – Moves to Three Week High Above $1200

Gold for Monday, November 24, 2014 Over several days last week Gold made repeated runs at the resistance level at $1200 and failed every time, before finishing the week breaking through ever so slightly.  In the last couple of weeks Gold has enjoyed a strong resurgence back to the key $1200 level where it has […]

Dovish Draghi and PBOC stimulus drive markets higher

Draghi’s dovish message gives markets a massive boost; PBOC surprise stimulus helps extend gains, while the aussie and commodities also rally; Quiet end to the week seen with no major announcements scheduled. What was initially looking like a quiet day for the financial markets due to the lack of scheduled economic events has become a […]

EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC

Talking Points: EURUSD slides after Draghi’s comments on a QE program. AUDUSD jumps after PBoC announces surprise rate cut. See the ‘high’ importance events on the DailyFX Economic Calendar. The People’s Bank of China’s decision today to cut its key interest rates in an effort to liberalize the exchange rate and boost consumption (their words, […]