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News

  • Mixed session on the Old Continent, GBP sinks on Brexit concerns

    August 8, 2018

    Summary: USD advances against most major currencies No-deal Brexit fears hit GBP UK100 moves significantly higher amid weak domestic currency RBNZ to make its decision in the late evening The key piece of data scheduled for Wednesday has been released in the morning and concerned trade figures from the Chinese economy.…

  • Bitcoin slumps below $6500 as bears take control over the market

    August 8, 2018

    Summary: Another Swiss bank will offer services for cryptocurrency companies Oleksandr Stelmakh, a member of the Ukraine Central Election Commission, considers using blockchain technology in elections Bitcoin (BITCOIN on xStation5) has broken below the $6500 handle Wednesday draws quite a pessimistic picture of the cryptocurrency market with Bitcoin’s decline below…

  • Economic calendar: Could NZD benefit from RBNZ decision?

    August 8, 2018

    Summary: Reserve Bank of New Zealand meets this evening, the NZ dollar seems to be in a position to benefit from the event DOE weekly release on US oil stocks should be closely watched by investors Wednesday’s trading has been already dominated by the Asian newsflow and this is likely…

  • Stocks add to recent gains; TRY recovery remains fragile  

    August 7, 2018

    Summary: US indices have moved higher once more today USDTRY remains near record high USDCAD retests trendline support Will SNB allows EURCHF to break 1.15? Top 3 charts to watch this week It’s been another day of steady gains for US indices so far with the US500 moving closer still…

  • USDCAD retests trendline support after Ivey PMI misses

    August 7, 2018

    Summary: Ivey PMI 61.8 vs 64.2 exp USDCAD moves higher in the initial reaction The pair tests long term trendline It’s a fairly quiet day on the economic calendar with the biggest release this afternoon the Canadian Ivey PMI. The figure itself was softer than expected with a reading of 61.8…

  • Wall St. set for green open 

    August 7, 2018

    Summary: US indices higher ahead of cash open US500 at 6-month high and not far from record peak at 2880 US30 testing prior resistance around 25600 Stock markets made a quietly bullish start to the new week with the large-cap US indices moving above last week’s highs. The gains were…

  • Top 3 charts of the week

    August 7, 2018

    Summary: Nikkei (JAP225) eyes a break out of the consolidation range EURUSD overcomes the lower bound of the triangle pattern COPPER struggles to find the bottom The US equity indices continue to advance towards the all-time-highs. Meanwhile, the Japanese Nikkei (JAP225) keeps trading within the consolidation range started in a…

  • Economic calendar: Will API report bring expected drop?

    August 7, 2018

    Summary: Weekly API release is expected to show a significant drop in inventories Canadian Ivey PMI with better expectations for July Walt Disney (DIS.US) is forecast to report $15 billion revenue Probably, the most observed today’s event has already taken place. Namely, in the morning investors looked at Australian central…

  • RBA slightly more dovish, Japanese wage growth surges

    August 7, 2018

    Summary: Reserve Bank of Australia keeps monetary policy settings unchanged delivering a slight dovish remark Japanese labour cash earnings for June come in well above expectations BoJ was to consider hiking rates twice this year, Reuters says Chinese stocks bounce back, USD steadies In line with widespread expectations the Reserve…

  • US stocks, Oil and USD edge higher

    August 6, 2018

    Summary: US indices make steady start to the week USD retests prior resistance but yields pull back Oil: A lot of uncertainty on the market First crypto company listed on LSE Latest bank recommendations US stock markets are a little higher than where they ended on Friday with the US500 moving up to…

  • Bullard: “respect the bond market”

    August 6, 2018

    Summary: Non-Voting Fed member issues market warning "I think you have to respect the signalling... of the yield curve" US 10-year yield hits 2 week low There’s been some noteworthy comments from James Bullard on CNBC today, with the non-voting member of the Fed essentially saying that investors and traders…

  • US stocks to start new week little changed

    August 6, 2018

    Summary: US indices at similar levels to Friday’s close Goldman increases buyback estimates Buffet indicator flashing potentially big warning sign US stock markets are expected to begin their session around where they ended on Friday with the US500 hovering around 2840 ahead of the open. The European morning has brought some interesting…

  • Precious metals take a step back as the greenback shines

    August 6, 2018

    Summary: European equities push higher at the beginning of the new trading week A crypto-related company has been listed on the LSE USD shines while GBP deepens decline A stream of data from the Chinese economy scheduled for this week As it is usual the case on Mondays the economic calendar…

  • Cryptocurrencies: The first crypto company listed on the LSE

    August 6, 2018

    Summary: The first mining company went public on the London Stock Exchange Jimmy Wales, the founder of Wikipedia, criticizes cryptocurrencies Bitcoin (BITCOIN on xStation5) has broken below the $7000 handle The cryptocurrency market starts the week quite calmly. Over the weekend major virtual currencies were trading mixed. However, we are…

  • Economic calendar: China in the spotlight

    August 6, 2018

    Summary: Chinese data are among the most important ones to watch this week Canadian investors await the jobs report US CPI for July is the most crucial print for the dollar and US indices Donald Trump made sure that investors do not forget about Trade Wars. His initiative to consider…

  • Saudi Arabia freezes trade relations with Canada, Trump tweets again

    August 6, 2018

    Summary: Saudi Arabia informs that it is going to freeze all trade and investment ties with Canada Donald Trump hails tariffs’ effects, China’s state media says it will not accept the US trade blackmail US dollar slightly higher, Asian stocks mixed as a new week gets started The Canadian dollar…

  • ISM disappoints; US stocks near their weekly highs 

    August 3, 2018

    Summary: ISM non-manufacturing PMI 55.7 vs 58.6 Kudlow: "China shouldn’t underestimate Trump on trade" US stocks remains near their highs The final data release of the week has shown another lower than expected reading for the US with the ISM non-manufacturing PMI missing forecasts. A print of 55.7 was well…

  • NFP misses but revisions soften the blow; Gold looks to bounce from support

    August 3, 2018

    Summary: Non-farm employment change: 157k vs 191k exp; prior 248k (up from 213k) Average earnings M/M: +0.3% vs 0.3% exp; prior 0.1% (down from 0.2%) Gold bounces from prior support; Stocks and USD mixed The US jobs report for July has come in a little softer than expected, but the…

  • Equities march higher, focus on the NFP report

    August 3, 2018

    Summary: AUD surges on the back of good retail sales report European equities try to recover after yesterday’s sell-off NFP report in the spotlight The first half of the European trading session can be named upbeat as we have witnessed gains across major stock indices from the region. Swedish and…

  • USD slumps as PBoC raises reserve requirement on FX forwards

    August 3, 2018

    The US dollar slumped across the board following the news that the Chinese central bank would increase a reserve requirement for trading foreign currency forwards to 20% from 0%. The move is aimed at helping the China’s currency erase some of its losses, and may also help equity markets. The…

  • UBS doubts Bitcoin could become viable means of payment

    August 3, 2018

    Summary: Boerse Stuttgart, the second largest German stock exchange, is exploring cryptocurrency potency UBS, a Swiss bank, doubts Bitcoin could serve as a viable means of payment Think-tank claims the value of blockchain to achieve $2 trillion to 2030 The Friday’s trading on cryptocurrencies has not been rosy so far…

  • Economic calendar: Will NFP finally show higher wage growth?

    August 3, 2018

    Summary: The EMU retail sales print expected to show another decent advance NFP once again expected to show wage growth remain at 2.7% YoY Berkshire Hathaway (BRKB.US) among companies reporting earnings today Economic calendar on the final trading day of the week looks quite full. The final services PMI readings…

  • AUD gets support from retail sales, Wall Street bounces back

    August 3, 2018

    Summary: Australian dollar catches a bid in the morning trying to resist the US dollar strength Australian retail sales surprise to the upside, services PMI slightly sub-par US indices make a U-turn on Thursday, Apple cross the trillion-dollar market valuation The last trading day in Europe is beginning with the…

  • Pound falls despite BoE hike; Traders await NFP 

    August 2, 2018

    Summary: Bank of England raise rates to 0.75% as expected Carney press conference sees initial rise in GBP reverse Turkish Lira extends loss on US sanctions Commodity snapshot Crypto mixed as Russian mining sector continues to boom Traders look to tomorrow’s NFP release The Bank of England chose to lift interest…

  • NFPs catalyst for significant moves in Gold, EURUSD & US500?

    August 2, 2018

    The US jobs report is one of the most hotly anticipated events of the month, and tomorrow’s data could carry an even greater than usual significance given where markets are at present. The US500, EURUSD and Gold all sit close to potentially key levels and Friday’s release could provide the…

  • JPY outperforms G10 currencies as global equities sink

    August 2, 2018

    Summary: Trade tensions weigh on the global equity markets Bank of England delivers a 25 bp rate hike Antipodean currencies dive along with commodities Japanese yen benefits from the risk-off mode The early trading on Thursday was marked by declines across the global equity markets as trade tensions seem to…

  • The Russian cryptocurrency mining sector is still booming

    August 2, 2018

    Summary: The number of the Russian cryptocurrency mining companies increased by 15% in first half of 2018 Northern Trust, an American custody bank, will help hedge funds enter the cryptocurrency market Ethereum (ETHEREUM on xStation5) trades a notch below $410 handle after two weeks of heavy sell-off Signs of easing downward…

  • Economic calendar: All eyes on Bank of England

    August 2, 2018

    Summary: EMU PPI inflation anticipated to accelerate in June Markets expect Bank of England to lift interest rates DowDuPont (DWDP.US) heralded to report over $23.5 billion revenue After Fed decided to stay on hold yesterday attention shifts to the Bank of England. The UK monetary authorities are expected to finally…

  • Fed stays on hold, Chinese stocks plunge

    August 2, 2018

    Summary: Federal Reserve keeps interest rates unchanged, a rate hike next month virtually a done deal Chinese stocks plummet as a trade war comes back to the fore while liquidity conditions in Hong Kong tighten US dollar reinvigorates as risk-off spreads over markets again In line with expectations the Federal…

  • DOE build keeps crude oil under pressure

    August 1, 2018

    Summary: DOE inventories: +3.8M vs -2.6M expected OPEC production rises by 300k bpd in July Oil remains lower on the day after outside bearish signal yesterday The weekly inventory data from the US has offered little support for crude bulls, with oil remaining under pressure after a large outside day…

  • Larger than expected drop in ISM; Gold revisits key support region

    August 1, 2018

    Summary: ISM manufacturing PMI 58.1 vs 59.4 exp Prices paid and new orders also both miss forecasts Gold retests prior support region from 1205-1215 The second economic release of note from the US this afternoon has shown a slightly disappointing outcome as far as the manufacturing sector is concerned, with…

  • Cryptocurrencies: Another Nobel Prize winner criticizes Bitcoin

    August 1, 2018

    Summary: Paul Krugman, a Nobel Prize winner, criticizes Bitcoin The biggest Thai movie theatre chain will accept cryptocurrency payments Bitcoin (BITCOIN on xStation5) slides to around the $7550 handle Tuesday has brought significant declines on the cryptocurrency market, but Wednesday paints a different picture. Bitcoin dropped below the $7500 mark.…

  • NZ jobs report fairly neutral, Trump to propose higher duties

    August 1, 2018

    Summary: NZ employment report turns out to be mixed and fairly neutral for NZD Donald Trump is to propose a 25% tariff rate on $200 billion Chinese goods Apple’s shares storm higher following upbeat earnings for the fiscal third quarter Wednesday’s morning is not bringing any larger moves across the…

  • Stocks gain into month end; USD rises despite inflation miss

    July 31, 2018

    Summary: Stocks move higher after reports of US-China trade talks US inflation misses forecasts but USD still on the rise Cryptocurrencies drop back lower Top 3 charts to watch this wekk GBPNZD: how to take advantage of two big events this week There was a sharp move higher for US…

  • Stocks jump on US-China breakthrough, but will the boost last?

    July 31, 2018

    Summary: US stocks rise after the opening bell Reports that US-China to restart talks to defuse trade war Chicago PMI comes in better than expected There’s been a sharp move higher for US indices shortly before the opening bell, with reports that the US and China are set to restart talks…

  • US inflation misses forecasts while CAD GDP beats

    July 31, 2018

    Summary: US June PCE core inflation Y/Y: +1.9% vs 2.0% exp Canadian May GDP M/M: +0.5% vs +0.3% exp USDCAD falls to test 1.30 handle As the 2-day Fed meeting begins the latest inflation figures are sure to be in focus, and a lower than expected print in the measure…

  • Inflation lifts common currency, JPY trades lower after BoJ

    July 31, 2018

    Summary: Euro gets boosted by accelerating inflation German DAX lags behind its Western European peers JPY sinks after BoJ reinforced its dovish stance Apple to announce earnings later today Major European stock benchmarks are trading mostly higher on Tuesday being boosted by the accelerating inflation. However, it should be noted…

  • Top 3 charts to watch this week

    July 31, 2018

    Summary: S&P500 (US500) revisits the 2800 level Wheat hits the key resistance NZDUSD in a triangle We start our weekly analysis of the Top3 charts from the US500 as Wall Street is in focus amid mixed quarterly reports. We can see that US500 managed to break an upper limit of…

  • Economic calendar: GDP and inflation data to steal the show

    July 31, 2018

    Summary: European economic growth expect to decelerate in the second quarter Consumer confidence by CB to remain virtually unchanged in July 3 Dow Jones companies to report earnings today Just take a quick look at the economic calendar and you will see that Tuesday is going to be a busy day.…

  • JPY slightly lower as BoJ stays broadly on hold

    July 31, 2018

    Summary: Bank of Japan leaves all interest rates unchanged as widely expected, some tweaks to its monetary policy settings implemented BoJ cuts inflation forecasts, yields move down, JPY nudges a bit lower Some macroeconomic releases coming out during Asian hours trading As widely expected the Bank of Japan maintained its…

  • More weakness seen in stocks; GDP beat boosts SEK

    July 30, 2018

    Summary: US Stocks fall further after Friday’s losses SEK gains on better than expected growth data Has soybeans already bottomed out? German inflation matches forecasts Google bans crypto mining apps There’s been more weakness seen in equities today, with US markets remaining vulnerable after Friday’s declines. The US100 printed a possible…

  • German inflation matches foecasts; EURUSD back above 1.17

    July 30, 2018

    Summary: German prelim HICP Y/Y: +2.1%  vs +2.1% exp Euro edging higher on the day EURUSD back near 1.17 handle It’s a busy week ahead for economic releases, but today in comparison is relatively quiet with little of note due out this afternoon. The only real data of note is…

  • Cryptocurrencies: Google bans mining apps from its app store

    July 30, 2018

    Summary: Google bans cryptocurrency mining apps from its Play Store First football club to pay players in digital currency Bitcoin (BITCOIN on xStation5) is trading around the $8100 handle The end of the previous week did not bring any fireworks when it comes to the cryptocurrency market. Over the weekend…

  • Asian indices lower, USD steadies as big week gets started

    July 30, 2018

    Summary: Asian equities begin the new week lower as investors prepare for crucial monetary policy meetings this week BoJ conducts another fixed-rate operation this month, retail sales surprise to the upside ahead of the meeting tomorrow US dollar settles down, key technical levels remain in place The onset of trading…

  • Earnings weigh on S&P 500 and Nasdaq, USD lower on growth miss

    July 27, 2018

    Summary: 2Q 2018 US GDP growth reaches 4.1% YoY July’s UoM consumer sentiment revised to 97.9 pts Earnings push US indices lower AUD outperforms other majors while SEK falls short of its peers Gold and silver benefit from the USD weakening in the second part of a day Major stock…

  • Fifth day of gains in Europe, US GDP reading in the spotlight

    July 27, 2018

    Summary: Equities in Europe march higher for the fifth consecutive session Precious metals pull back amid USD strengthening Investors wait for the US GDP reading Equities from the Old Continent are adding to their recent gains in the first half of Friday’s trading. However, Polish and Russian equities that has…

  • Cryptocurrencies: Mastercard’s CEO calls digital currencies “junk”

    July 27, 2018

    Summary: Banks from BRICS countries plan to explore the blockchain technology potential Ajay Banga, CEO of Mastercard, addressed virtual currencies The Iranian state-backed cryptocurrency is nearer and nearer Early trading on Friday can be described as sluggish when it comes to the cryptocurrencies. Bitcoin is erasing a part of its…

  • Economic calendar: All eyes on US GDP as Trump weighs in

    July 27, 2018

    Summary: US GDP for the second quarter (the first reading) is by far the most important release for today University of Michigan will report its final index for June illustrating consumers’ sentiment The number of active oil rigs count will be updated this afternoon Friday is all about the preliminary…

  • BoJ offers to buy unlimited amount of bonds as yields rise

    July 27, 2018

    Summary: Japanese central bank offers to buy an unlimited amount of bonds in order push yields back Amazon presents mixed Q2 earnings, Intel beats expectations but shares fall over 6% anyway NASDAQ (US100 on xStation5) loses 1%, Dow Jones (US30) moves through resistance as the week comes to an end…

  • Indices gain as Facebook plunges; Euro dips lower on ECB

    July 26, 2018

    Summary: Major indices higher barring US100 which feels Facebook plunge Carmakers surge as US-EU steps away from tariffs Euro drifts lower after fairly uneventful ECB meeting Commodity snapshot Crypto dips; US presidential candidate says he’ll accept crypto donations Overall it’s been a fairly good day for stocks with most of the major…

  • Facebook plunge weighs on US100 but US30 marches higher

    July 26, 2018

    Summary: Facebook drops 18% on the open; US100 under pressure US30 near 5-month high above 25500 Durable goods orders miss forecasts One of the biggest stories of late is Facebook after shares in the tech giant cratered last night, dropping over 20% in after-hours trade after the firm delivered its…

  • Draghi delivers consistent message as ECB keeps rates on hold

    July 26, 2018

    Summary: Draghi toes similar line to prior press conference ECB keep all rates on hold as widely expected EURUSD dips below 1.17; DE30 looks to move higher Today’s ECB decision marks the 6th anniversary of the famous "whatever it takes" line from Draghi in reference to what the central bank…

  • US presidential candidate accepts cryptocurrency donations

    July 26, 2018

    Summary: Andrew Yang, a Democratic presidential candidate, accepts crypto donations Hitachi, a Japan tech giant, tests a blockchain-based system Bitcoin (BITCOIN on xStation5) moves slightly above a $8200 handle Bitcoin is settling down on Thursday. However, altcoins are moving in the different  direction compared to the most famous cryptocurrency. The…

  • Economic calendar: ECB post-meeting conference in the spotlight

    July 26, 2018

    Summary: ECB decision and Draghi conference in the spotlight Durable goods orders to tick higher in June Amazon expected to report $53.3 billion revenue Taking a look at the economic calendar on Thursday one can notice that there are not many relevant readings and events scheduled for today. However, we…

  • Trump and Juncker strike trade deal, Facebook plunges post earnings

    July 26, 2018

    Summary: Donald Trump and Jean-Claude Juncker strike an unexpected deal to avert a further trade war escalation US stocks and grains bounce on the agreement, USD gives back gains Facebook plunges over 20% in extended trading as the company disappoints with revenue When the European Commission leader was heading for…

  • US stocks rise after starting lower; Oil volatile after another large DOE draw

    July 25, 2018

    Summary: US stocks recover after moving lower; GM shares plummet  Oil exhibits volatile trade after large DOE draw Crypto markets pullback as Binance looks to S. Korea Fundamental overview of Silver Can the ECB revive the Euro? There was a notable move lower in indices around lunchtime following the latest…

  • US stocks to open lower on Trump tweet; GM slumps on slashed outlook

    July 25, 2018

    Summary: US indices lower with US100 pulling back from ATH Trump tweet weighs on sentiment ahead of Juncker  GM shares slump on cuts to forward guidance US stock markets began yesterday’s session brightly with the US500 reaching its highest level since February while the US100 was propelled to a new…

  • Trade talks in focus, AUD underperforms after inflation miss

    July 25, 2018

    Summary: Inflation miss exerts pressure on AUD valuation Juncker meets Trump to discuss trade issues Both precious and industrial metals are advancing Oil trades mixed ahead of DOE data Portuguese stocks outperform region peers In the first half of the European session major stock indices from Western Europe moved modestly…

  • Binance aims to enter South Korean market

    July 25, 2018

    Summary: Coinbase has introduced gift cards in Europe The Singaporean largest air carrier launches blockchain-based program Binance wants to enter South Korea This week has been quite positive for cryptocurrencies. Yesterday, Bitcoin clearly jumped over a $8000 handle whereas altcoins also made some gains. In turn, virtual currencies have experienced…

  • Can the ECB revive the euro?

    July 25, 2018

    Summary: ECB to decide on rates on Thursday (decision 12:45pm GMT, conference 1:30pm) EURUSD stuck in consolidation, looks for an impulse DE30 remains in an upwards channel. Auto tariffs may prove more relevant in this case The ECB meeting is usually one of the most important events for the EURUSD.…

  • AUD stutters post CPI data, Trump calls for free trade with the EU

    July 25, 2018

    Summary: Australian headline price growth misses expectations, but core measures come as anticipated Donald Trump calls for free trade with the European Union suggesting a removal of all duties PBoC devalues CNY again, NZ trade balance disappoints, API reports a larger than expected draw of oil stocks The Australian dollar…

  • Stocks and Bitcoin make a move higher; TRY plunges as CBRT stand pat

    July 24, 2018

    Summary: US100 hits record high, led by FAANG gains DE30 also firmly higher with Volkswagen a big riser Bitcoin hits 2-month high above 8000 TRY plunges as CBRT stand pat USD: what to expect next?  Stock markets have enjoyed a good day of gains by the European cash close, receiving a…

  • GBP on the rise after PM May’s comments

    July 24, 2018

    Summary: UK PM May says she will take control on Brexit negotiations GBP making steady gains on the news GBPUSD back near highest level in a week around 1.3160 News making the headlines this afternoon that UK PM Theresa May will take control of Brexit negotiations has given the pound…

  • Stock futures green ahead of US open; Alphabet tops earnings forecasts

    July 24, 2018

    Summary: US indices enjoy decent move higher since Monday’s close Google parent company Alpahbet (GOOG.US) beats earnings forecasts Chinese stimulus news and Alphabet earnings boost senitment  Stock markets have enjoyed a decent move higher this morning, receiving a dual boost in sentiment from a proposed Chinese fiscal stimulus and a better…

  • EUR pares morning weakness, declines on the grain market

    July 24, 2018

    Summary: European stocks move significantly higher on Tuesday USD losses its morning shine European services PMI falls more than expected Gold stays muted to the advances of other precious metals Following significant gains in Asia European equities have been marching higher since the beginning of today’s session. Gains accelerated following…

  • Bulls prevail as Bitcoin crosses $8000

    July 24, 2018

    Summary: The new UK payments system will support blockchain Chinese city launches a $1.5 billion blockchain fund Bitcoin (BITCOIN on xStation5) is marching higher towards a $8000 handle Tuesday has begun quite interestingly for the most important virtual currencies. Bitcoin has reached its two-month high. Over the past 24 hours…

  • Asian equities bounce, Google smashes earnings expectations

    July 24, 2018

    Summary: Asian stock markets climb as Chinese authorities recall they have a bunch of policies at their disposal aimed at boosting domestic demand PBoC devalues onshore yuan to the most since more than a year Google (GOOG.US on xStation5) easily beats expectations as for Q2 earnings Japanese manufacturing PMI slows…

  • Stocks make quiet start to new trading week; Bitcoin hits 2-month high

    July 23, 2018

    Summary: Major indices little changed on the day; US500 hovering near 2800 European airlines pullback on Ryanair profit drop Bitcoin hits highest level since May around 7700 What’s next for USDJPY?  Is Gold set for a recovery or more downside ahead? US stock markets have begun the new week in a relatively…

  • Is Gold set for a recovery or more downside ahead?

    July 23, 2018

    Summary: Gold hit its lowest level in a year last week; but prices bounced from 1210 region Correlation with USDIDX could hint at possible recovery US homes sales miss; GDP on Friday the main scheduled data release It’s been a tough time of it of late for Gold bugs with…

  • Stocks flat ahead of US session 

    July 23, 2018

    Summary: US500 little changed ahead of Wall Street open Price continues to oscillate around 2800 Halliburton posts spike in revenues  US stock markets are expected to begin the new week not far from where they ended the last with index futures trading little changed on the day. The US500 has…

  • Equities start week lower, oil moves higher on geopolitics

    July 23, 2018

    Summary: European equities launch new trading week lower Oil advances as US-Iran tensions intensify CBRT and ECB to make interest rate decisions this week Amid empty economic calendar European equities are declining at the beginning of a new trade week. Following lower opening stocks from the Old Continent failed to…

  • Switzerland strives to be cryptocurrency haven

    July 23, 2018

    Summary: Switzerland wants to keep crypto-related companies inside the country Ukrainian Financial Stability Council supports a new digital currencies regulatory framework Samsung Stores will be accepting cryptocurrencies in the Baltic countries In the last week Bitcoin was moving completely differently in comparison to other major digital currencies. What’s more, Bitcoin…

  • Economic calendar: Quiet Monday ahead of central banks

    July 23, 2018

    Summary: Semi-important readings from the US and Europe to be released in the afternoon BoE Deputy Governor to speak in the evening Central banks in the spotlight during the week As usual Monday’s calendar is quite empty. In the afternoon investors will be offered two semi-important readings, one from the…

  • Yen keeps pushing higher, G20 reaffirms its ex-rate commitment

    July 23, 2018

    Summary: Japanese currency catches a bid as the new trading week unfolds Chinese stocks gain a foothold, US dollar remains on the back foot G20 countries reaffirm their commitment with regard to exchange rate After a bombshell which the US President Donald Trump offered markets on Friday afternoon the Japanese…

  • USD sinks on Trump comments; CAD jumps on retail sales beat

    July 20, 2018

    Summary: Trump tweet weighs on the USD CAD soars after strong retail sales beat Barclays wants to use blockchain technology DE30 falls back to little changed on the week    Donald Trump likes to be in the spotlight. This week has begun with his equivocal comments he delivered in Helsinki when…

  • Stocks drown on Trump, industrial metals advance

    July 20, 2018

    Summary: Trump sinks equities with announcement of new tariffs German Finance Ministry sees German growth accelerating in Q2 Financial leaders of G20 countries will meet in Buenos Aires this weekend Donald Trump announcement of $500 billion tariffs on Chinese goods doomed equities from the Old Continent. Moreover, Wall Street futures…

  • USD moves to highest level in a year; Oil jumps on Saudi comments

    July 19, 2018

    Summary: USD index moves to highest level since last July Cable falls through 1.30 handle  Oil jumps higher on Saudi minister comments Powell follows Yellen’s stance on crypto DE30.cash declines and falls back below 12700  The US dollar is enjoying another good day of gains with the buck rising against…

  • Oil jumps on Saudi comments but outlook remains unclear

    July 19, 2018

    Summary: Oil rises over $1 in an hour to move above Weds highs Spike comes after comments from Saudi oil min "Talk of oil market oversupply are without basis" It’s been a pretty volatile ride for oil traders of late, with the market managing to shrug of a large build…

  • USD looks to make potentially key break higher as initial jobless falls further

    July 19, 2018

    Summary: USD hits 1-year high as price looks to break higher Solid US data with initial jobless claims falling and a beat for Philly Fed  AUDUSD and USDCHF could be poised for a breakout The US dollar is enjoying another good day of gains with the buck rising against all…

  • USD dominates G10 currencies, equities trade lower

    July 19, 2018

    Summary: GBP sinks on another data miss European equities push lower on Thursday US dollar rallies after Powell hearings The UK retail sales report stole the show on the Thursday morning sending GBP to multi-month lows. Elsewhere, European equities are trading lower with steepest declines once again seen on the…

  • Powell upheld Yellen’s stance on virtual currencies

    July 19, 2018

    Summary: Jerome Powell, Fed chair, criticized virtual currencies before Congress Three mining companies became “unicorns” Ripple (RIPPLE on xStation5) pulls back towards 33-period moving average Thursday brought a reversal on the cryptocurrency market. Over the past 24 hours major virtual currencies declined significantly. Bitcoin seems to be partially resilient to…

  • Economic calendar: Will retail sales help GBP recover?

    July 19, 2018

    Summary: Retail sales report to conclude UK data marathon Semi-important US labour market data to be released in the afternoon Microsoft (MSFT.US) expected to report over $29 billion revenue In Thursday’s calendar investors will find just a few important readings. Firstly, the UK retail sales report is scheduled for release…

  • Jobs report sends Aussie higher

    July 19, 2018

    Summary: Australian labour market paints the rosy picture producing a stunning jobs release for June Stocks in Asia mixed, BoJ cuts its JGBs purchases once again Yuan offshore slides as speculators increase their involvement The most important point coming from Asian hours trading is undoubtedly the labour market report from…

  • Oil gains despite DOE build; GBP falls on inflation miss

    July 18, 2018

    Summary: Oil has bounced despite a build of 5.8M in the DOE report Commodity snapshot GBPUSD hits 10-month low as inflation fails to rise Morgan Stanley gains after beating the Street Cryptocurrencies rally as IBM open Blockchain research centre There’s been a fairly strong bounce in the Oil price this afternoon…

  • Unexpected build in DOE inventories but Oil bounces from 3-month lows

    July 18, 2018

    Summary: DOE inventories: +5.8M vs -3.4M exp and -12.6M prior US oil production hits 11M  Oil dips lower but finds some buyers near 3-month lows The weekly DOE inventories has thrown up some surprising releases of late, and this afternoon’s didn’t disappoint with an unexpectedly large build. As well as…

  • US stocks little changed as housing data disappoints; Morgan Stanley tops estimates

    July 18, 2018

    Summary: US500 remains near breakout level US housing data comes in below forecast Morgan Stanley delivers strong trading update US indices have been pretty quiet today with the US500 continuing to oscillate around its prior breakout level of 2808. The outlook for the market appears to remain in favour of…

  • European stocks push higher, GBP sinks on inflation report

    July 18, 2018

    Summary: Downbeat inflation report sinks pound US dollar rallies after Powell hearing at Senate European equities march higher The beginning of the European session was marked by quite significant gains of the major benchmarks. Swedish and Dutch equities outperform other European stocks. Taking a look at the FX market one…

  • Cryptocurrencies march higher fueled by Bitcoin surge

    July 18, 2018

    Summary: Bitcoin (BITCOIN on xStation5) has risen roughly 10% since yesterday! IBM and Columbia University have opened Blockchain Research Center The cryptocurrency enthusiast will be on the top of Goldman Sachs Cryptocurrencies have been constantly advancing throughout past few days and today is no different. Over the past 24 hours…

  • Economic calendar: Second day of Powell hearings

    July 18, 2018

    Summary: Jerome Powell to testify before the lower chamber of Congress UK inflation reading may reinforce expectations of a rate hike in August DOE report expected to show a significant decline in oil inventories Jerome Powell did not rock the markets yesterday but today is another day and another hearing…

  • USD stronger, Asian stocks bounce back

    July 18, 2018

    Summary: US dollar retains its gains made during Powell’s testimony May’s survives another voting Asian equities take a breath amid a calm session Crude oil moves lower in the aftermath of an unexpected build reported by API The US dollar is dividing and conquering this morning gaining ground against its…

  • t rock the boat; Gold hits 1-year low

    July 17, 2018

    Summary: Fed chair Powell’s speech contains few surprises; USD remains supported Gold drops to lowest level since last July  Netflix plunges on drop in users  GBP drops despite solid labour market data Are commodity currencies set to recover? One of the most highly anticipated events for the US dollar this…

  • Fed chair Powell testifies on mon pol; USD moves higher

    July 17, 2018

    Summary: Powell delivers semiannual monetary policy report "Best policy is to keep gradually raising rates" USD looks to build on gains; USDJPY near 2018 peak One of the most highly anticipated events for the US dollar this week was Powell’s speech this afternoon and the Fed chair has just delivered…

  • Gold attempts to break lower after industrial production beat

    July 17, 2018

    Summary: Gold falls below 1236 to hit 1-year low US industrial production rises to 0.6% but prior revised lower Powell speech in focus There’s been a potentially decisive break lower seen in Gold in the last hour with a better than expected US industrial production print seeing the market break…

  • Netflix plunges while Goldman announces new CEO and bumper profits

    July 17, 2018

    Summary: Netflix called to open sharply lower after disappointing results Goldman Sachs posts 44% jump in net profits; Solomon new CEO US indices pull back from recent highs Shares in Netflix could be keenly followed on the Wall Street open in less than half an hour at 2:30, after the streaming…

  • Are commodity currencies already out of the woods?

    July 17, 2018

    Summary: Three commodity-related currencies (AUD, CAD, NZD) have been placed among the worst performers in G10 since the beginning of the year Risks surrounding trade frictions weighted on them, the CFTC data placed AUD, CAD, NZD among the most oversold major currencies Economic surprise indices imply that further disappointments could…

  • Cryptocurrencies: Blockchain is coming to CFA exams

    July 17, 2018

    Summary: The Financial Stability Board has developed a crypto markets monitoring framework Knowledge of cryptocurrencies and blockchain will be tested during CFA exams BlackRock, an asset management giant, is considering investment in virtual currencies Bitcoin (BITCOIN on xStation5) has risen roughly 5% since yesterday The cryptocurrencies’ frenzy is going on.…

  • Economic calendar: Powell’s testimony in the spotlight

    July 17, 2018

    Summary: UK earnings growth expected to keep with the previous pace Jerome Powell to testify in the Senate Will API data offer some relief for oil bulls? On Tuesday investors will be offered some readings that may spur volatility across many markets. The day will start with the UK labour…

  • NZD soars as RBNZ core inflation accelerates

    July 17, 2018

    Summary: NZ dollar surges in the morning on the back of the highest pace of core price growth in seven years RBA minutes do not offer too much more, "the next move in rates more likely up" Chinese stocks continue declining following a negligible session on Wall Street, beware of…

  • Oil slides lower; USD also in the red despite retail sales revisions

    July 16, 2018

    Summary: Oil under pressure on supply increase talk  Positive revisions to US retail sales fail to boost the buck US stocks little changed and Blackrock and BofA report earnings Cryptocurrencies moving higher Is it time for a USDCHF reversal? There’s been some strong selling seen in oil markets this afternoon…

  • US stocks make quiet start to cash session

    July 16, 2018

    Summary: US500 begins new week near 6-month high Blackrock and Bank of America report Tesla falls on Musk tweets It’s been a fairly subdued start to the new week as far as stocks are concerned with the US500 pulling back a little after earlier just about edging up to its…

  • Retail sales broadly inline but positive revisions; USD remains lower on the day

    July 16, 2018

    Summary: US retail sales M/M: 0.5% vs 0.5% exp Prior revised higher to give slight positive skew USD remains lower on the day The latest consumer spending figures from the US have come in broadly in line with forecasts, although some upwards revisions to prior prints gives a slight positive…

  • Trump meets Putin, oil pulls back on Saudi Arabia comments

    July 16, 2018

    Summary: Trump-Putin meeting began in Helsinki Saudi Arabia sinks oil prices with supply boost announcement US dollar underperforms against other major The beginning of the new week on the European stock markets is mixed. The UK equities are top underperformers while the Turkish ones are subject to biggest advance. The…

  • Cryptocurrencies: Russia publishes a whitelist of crypto companies

    July 16, 2018

    Summary: “Go”, a board game, will have a blockchain version Russia has got a new whitelist of crypto companies A lot of South Africans want to invest in cryptocurrencies   Cryptocurrencies are trying to pare the last week’s losses. Over the weekend major virtual currencies were quite rapidly increasing. The…

  • Asian stocks move lower, Chinese GDP slows down

    July 16, 2018

    Summary: Asian equity markets begin the new week noticeably lower China’s GDP slows down but matches expectations in the second quarter, other monthly releases mixed Pound climbs having the crucial week ahead Most of Asia-based stock markets have begun the new week noticeably lower even as Wall Street managed to…

  • Stocks rise despite mixed start to earnings; GBP recovers earlier declines

    July 13, 2018

    Summary: Indices gain as banks make mixed start to US earnings season GBP recovers from declines as Trump clarifies comments on trade AMEX focuses on blockchain Soybean prospects remain pretty dim Chinese trade surplus swells The second quarter US earnings season began today, with banks JP Morgan, Citi and Wells…

  • Uni Mich misses forecasts; GBPUSD looks to recover as Trump clarifies comments

    July 13, 2018

    Summary: US consumer sentiment pulls back Uni Mich drops more than forecast; prior revised lower GBPUSD moves off lows after Trump dismisses tough trade talk The final economic data of the week of note has come from the US, and it suggests that the mood amongst consumers may be declining…

  • Equities fail to gain traction, GBP depressed after Trump comments

    July 13, 2018

    Summary: USDA report paints a gloomy picture for grain market Trump’s Brexit comments sink GBP JPMorgan and Citigroup among companies reporting earnings today After higher opening major European stock indices struggled for direction. Majority of the benchmarks keep trading higher against yesterday’s closing prices yet they are mostly flat against…

  • American Express focuses on blockchain

    July 13, 2018

    Summary: Major cryptocurrencies are slightly going up American Express (AXP.US) appreciates a blockchain technology Bitcoin (BITCOIN on xStation5) is trading around $6200 Cryptocurrencies are subtly rising. Friday brings calm after yesterday’s falls. Over the past 24 hours major cryptocurrencies were faintly increasing. The capitalization of the whole market sits a…

  • Economic calendar: US earnings season kicks off today!

    July 13, 2018

    Summary: UoM consumer sentiment expected to decline slightly Fed to release its monetary policy report to Congress Major US banks will report its earnings today Economic calendar on Friday is rather empty. We will get just one semi-tier data from the US in the afternoon and that will be University…

  • Chinese trade surplus swells, GBP nudges lower

    July 13, 2018

    Summary: Chinese trade surplus with the US increases substantially in June handing Donald Trump fresh reasons to push ahead PBoC does not tinker a yuan reference point, but injects money into the market GBP moves slightly lower as Trump says soft Brexit likely to kill off US trade deal The…

  • Equities move higher; USD dips as US CPI meets expectations

    July 12, 2018

    Summary: Stock indices move higher after slow start USD pulls back as CPI comes in inline  TRY looks to recover from record lows Bearish forecasts for Cryptos SEK slips after Riksbank minutes  Stocks have enjoyed a measured move higher today, with the US100 trading back near its record peak. Indices made a…

  • TRY looks to bounce from record lows

    July 12, 2018

    Summary: Turkish Lira gaining more than 1% against USD and EUR New Turkish fin min promises to bring down soaring inflation Moody’s highlights investor concerns The Turkish Lira is attempting to make a recovery today, rising by more than 1% against both the Euro and USD after hitting its lowest…

  • Equities catch a breath, focus shifts to the US inflation data

    July 12, 2018

    Summary: European equities trade subtly higher on Thursday Wall Street futures point for a higher opening in the US ECB minutes and US inflation data in the spotlight for the remainder of the day Thursday is marked with a moderate rebound across equity markets after yesterday’s rout. However, not every…

  • Stiglitz forecasts’ bode not well for cryptocurrencies

    July 12, 2018

    Summary: A majority of Canadians are aware of Bitcoin’s existence Joseph Stiglitz, a Nobel Prize winner, criticizes virtual currencies again Opera browser adds a built-in cryptocurrency wallet Thursday starts with declines across major virtual currencies. Over the past 24 hours all major cryptocurrencies were falling again. The capitalization of the…

  • Asian stocks bounce back, PBoC devalues yuan

    July 12, 2018

    Summary: Asian equities bounce back led by Chinese indices following a bleak session on Wednesday PBoC devalues the onshore yuan substantially in a possible response to US threats Fitch warns that simmering uncertainty regarding NAFTA lifts trade risks for some US states Wednesday was a really gloomy day for equity…

  • Stocks decline on trade tensions; BOC hikes rates

    July 11, 2018

    Summary: Equities decline as US impost further trade tariffs on China Will corporate earnings overshadow trade worries? BOC hike rates as expected US inflation rises faster than forecast Huge DOE draw but Oil fails to rally It seems like a few day streak of market calmness is too much for…

  • Huge DOE draw but Oil fails to rally

    July 11, 2018

    Summary: DOE inventories: -12.6M vs -4.1M exp Last night’s API: -6.8M Oil spikes higher in volatile trade The latest crude oil inventory numbers from the DOE have shown a mammoth drop, falling by 12.6M on the previous reading. Compared to an expected print of -4.1M the drop is far larger…

  • BOC hike as expected; USDCAD dips below 1.31

    July 11, 2018

    Summary: BOC hike overnight rate by 25 bp to 1.5% Hawkish statement also boosts CAD USDCAD falls below 1.31 As was widely expected the Bank of Canada have hiked interest rates and a fairly hawkish accompanying statement has boosted the Loonie which is moving sharply higher in the immediate reaction.…

  • US inflation rises faster than forecast but EURUSD pops on ECB remarks

    July 11, 2018

    Summary: US PPI Y/Y: +3.4% vs +3.1% exp; close to 7-year high USD higher on the day but EURUSD attempts to bounce on ECB comments Tomorrow’s US CPI data due at 1:30PM The latest inflation data from the US has shown a larger than expected increase in price pressures with…

  • Trade tensions dominate markets sending risky assets lower

    July 11, 2018

    Summary: Stocks plummet as US announces new tariffs USD outperforms other majors Bank of Canada to make interest rate decision (3:00 pm BST) Steep declines are observed all across Europe after the US administration announced new tariffs on Chinese goods. As China has already warned that it will retaliate investors…

  • Another prominent academic centre launches crypto course

    July 11, 2018

    Summary: FINRA, an American regulator of brokerage firms and exchange markets, encourages brokers to disclose any activities connected with digital assets London School of Economics has introduced an online certified crypto course Bitcoin displaces a national Nigerian currency The cryptocurrencies market is going down. Over the past 24 hours a…

  • Economic calendar: Will Bank of Canada surprise the markets?

    July 11, 2018

    Summary: US PPI inflation expected to tick higher in June Bank of Canada widely anticipated to deliver a 25 bp rate hike Consensus suggests DOE report will confirm decline signalled by API yesterday The relative calmness seen in the past few days has been disrupted overnight by Donald Trump signalling…

  • Trump spoils upbeat moods announcing new levies on China

    July 11, 2018

    Summary: Donald Trump administration plans to slap China with a package of new duties worth $200 billion Asian indices plunge in the aftermath, commodities take a dive as well Australian dollar is hit hard, US yields move somewhat lower Following two upbeat days across riskier assets a brutal end of…

  • Crypto markets hit with wave of selling; USD and GBP look to recover recent losses

    July 10, 2018

    Summary: Strong selling seen in crypto space with 5%+ declines USDJPY probes pivotal resistance GBP looks to recover after GDP release Copper falls back near 12-month low Preview of key upcoming events; US CPI and ECB minutes There’s been some notable declines in cryptocurrencies today with all 5 markets being…

  • USDJPY probes pivotal resistance around 111.40

    July 10, 2018

    Summary: USDJPY probing trendline from summer of 2015 Risk-on sentiment and USD recovery aiding the pair US inflation data due out on Thursday We noted yesterday that 3 USD pairs were testing key levels as the buck threatened to break down against the EUR, NOK and TRY but now less than…

  • Why are US CPI, ECB minutes so important?

    July 10, 2018

    Summary: US inflation is expected to have accelerated in June ECB minutes could signal some disputes within the Governing Council regarding a rate increase next year US500 approaches pivotal resistance, EURUSD goes back to trading within a consolidation The US dollar has commenced this week on a wrong foot, but…

  • USD gets back on track, oil moves higher ahead of API

    July 10, 2018

    Summary: European stocks advance modestly Oil prices surges ahead of API data release US Dollar Index moves higher to the 94.4 pts handle Tuesday’s trading is quite calm so far. We are observing modest gains across European stock markets with the Spanish IBEX being the only major index from the…

  • Co-founder of Google appreciates cryptocurrencies

    July 10, 2018

    Summary: Czech investment bank is going to run a blockchain fund Billionaire and co-founder of Google is positively oriented for a cryptocurrencies One of the biggest Chinese banks thinks over use of a blockchain system The end of the previous week ended optimistically, but the beginning of next one could…

  • Economic calendar: Is oil going to draw attention again?

    July 10, 2018

    Summary: Industrial production in the UK should bring an increase in May German economic sentiment index will be released during the day Crude oil inventories by API will be published at the end of the day Today is going to be quite a calm day. Today’s economic calendar is illustrating…

  • Chinese stocks continue bouncing, USDJPY moves through 111

    July 10, 2018

    Summary: Chinese CPI comes in as expected, PPI slightly beats expectations, stocks nudge higher Chinese authorities are to be at disposal of more tools to ease financial conditions if needed USDJPY breaks through 111 on a slight USD bid along with risk-on Monday brought quite decent gains across European as…

  • Pound seesaws on Brexit developments; Stocks move higher

    July 9, 2018

    Summary: Pound falls lower after Foreign Secretary Johnson resigns  Sterling had earlier gained after Brexit Sec. Davis stepped down  Equities start the new week higher Does CAD have a chance to gain post BOC? USD near key levels vs EUR, NOK and TRY Will digital asset be listed on Swiss stock…

  • Pound falls on Johnson resignation

    July 9, 2018

    Summary: GBP falls to lowest level of the day after more Brexit developments Foreign secretary Boris Johnson follows David Davis in resigning GBPUSD back below 1.33 after rejecting fib level There’s been some swift downside seen in the pound in recent trade with the currency coming under pressure after another…

  • USD near key levels vs the EUR, NOK and TRY

    July 9, 2018

    Summary: USD dropping back lower Post-NFP weakness still in play EURUSD, USDNOK and USDTRY all approaching big levels There’s been some continuation seen from Friday’s move after the NFP release in the US dollar today, with the buck extending its decline. The GBPUSD has gained on the latest Brexit developments mentioned here,…

  • European stocks move higher, USD falls further

    July 9, 2018

    Summary: UK Brexit minister resigns BMW gets hit by the car tariffs Bank of Canada to make interest rate decision this week Stocks in Asia and Europe advance during the first trading day of the week as concerns over trade conflict has been put aside. Russian equities are top gainers…

  • Economic calendar: Can EURUSD rebound for good?

    July 9, 2018

    The EURUSD currency pair withstood a turbulent time above the key 1.15 threshold but it was not able to rebound significantly from there, thwarted by solid data from the US and political concerns in Germany. This week will bring more cornerstone releases for this currency pair so there will be…

  • David Davis steps down, risk-on comes back again

    July 9, 2018

    Summary: UK Brexit Minister David Davis resigns his post citing "irreconcilable differences" with PM May US Secretary of State Mike Pompeo dismisses North Korean accusations made in the aftermath of two days of talks in Pyongyang Risky assets gets a shot in the arm, AUD soars, Asian indices push higher…

  • Equities march higher while tariffs take full effect

    July 6, 2018

    Summary: Mixed labour market reports from US and Canada US equities trade higher as week’s end looms US-China launch trade war as tariffs take full effect today NZD maintains the position of a G10 leader On the final trading day of the week we are observing decent gains of US…

  • Antipodean currencies surge, investors wait for labour data

    July 6, 2018

    Summary: Major European stock indices trade in a vicinity of yesterday’s closing price FOMC minutes confirm rates to be gradually increase Jobs reports from US and Canada in the spotlight today The tariff theme once again stormed the financial markets as new US tariffs take full effect today. Beijing is…

  • Cryptocurrencies: Binance to reach $1 billion net profit?

    July 6, 2018

    Summary: Indian ruling party members accused of cryptocurrency fraud Bitcoin (BITCOIN on xStation5) test 33-period moving average on H4 interval Binance founder says 2018 net profit may reach $1 billion Over the past 24 hours the major virtual currencies gave back some of its recent gains. The capitalization of the…

  • Economic calendar: Jobs reports to dominate the day

    July 6, 2018

    Summary: US labour market report is expected to bring another solid increase in employment  Canadian jobs report could turn out to be critical before the BoC meeting next week Oil traders should watch a weekly Baker Hughes release Friday is all about employment reports from the US as well as…

  • FOMC minutes confirm further rate hikes, new tariffs on China kick in

    July 6, 2018

    Summary: FOMC minutes confirm that further gradual rate increases seem to be warranted US tariffs on Chinese goods kick off at the midnight, China has yet to react to US levies Asian stocks recover, Antipodean currencies move up, USD steadies Over the past hours we got a lot of crucial…

  • Equities move higher, attention turns to FOMC minutes

    July 5, 2018

    Summary: Despite downbeat Asian session equities in Europe and US move higher Scandinavian currencies advance strongly for another day Non-manufacturing ISM moves to the highest level since March Oil pulls back after DOE signalled decent build in inventories Investors’ attention turns to FOMC minutes (7:00 pm BST) This week’s DOE…

  • Car makers lead European indices higher, SEK keeps shining

    July 5, 2018

    Summary: European car makers push indices from the Old Continent higher Scandinavian currencies continue their rally US data in the spotlight (ADP at 1:15 pm BST and ISM at 3:00 pm BST) Despite rather downbeat Asian session European stock benchmarks trade higher on Thursday. Gains on the Old Continent are…

  • What to expect ahead of the NFP report?

    July 5, 2018

    Summary: The US dollar had a great second quarter, will the data justify this strength? The NFP report should show a decent employment growth Only a surge in wages could trigger a major USD appreciation The NFP report is typically heavily anticipated by traders around the globe and this time…

  • Economic calendar: USD in focus as US traders get back to market

    July 5, 2018

    Summary: ADP employment report together with non-manufacturing ISM seem to be in the limelight this afternoon FOMC minutes might draw investors’ attention after the major meeting in June Oil trades slightly lower ahead of the EIA weekly release Some central bankers scheduled to speak during the day US traders are…

  • Chinese stocks decline on tariff fears, yuan falls

    July 5, 2018

    Summary: Chinese indices take another hit on Thursday ahead of US tariffs coming into effect tomorrow Offshore yuan keeps sliding as speculators have no incentive to buy it against the dollar IMF warns about an inflation breakout on the back of the US fiscal stimulus Chinese indices are set to…

  • Thin trading amid absence of US investors, SEK and NOK move higher

    July 4, 2018

    Summary: Sluggish trading on the financial markets on the back of US investors absence SEK and NOK outperform other majors GBP gets boosted by the services PMI reading Declines on the industrial metals market FOMC minutes and NFP report in the spotlight for the remainder of the week As US…

  • Equities trade mixed, industrial metals pull back

    July 4, 2018

    Summary: Thin trading amid lack of the US traders UK service PMI beats expectations Mixed session on the European stock markets In the lack of US investors trading on Wednesday is thin. We are observing mixed session on the Old Continent where French and Spanish equities post gains while German…

  • Cryptocurrencies: Altcoin worth 96 Bitcoins?

    July 4, 2018

    Summary: Five countries form international body to combat financial crimes Litecoin (LITECOIN on xStation5) locked between moving averages SYS sold for 96 Bitcoins due to the bug After strong gains posted by major cryptocurrencies at the beginning of a new week the digital asset market stopped to take a breath…

  • Economic calendar: UK PMI draws attention, US traders on holiday

    July 4, 2018

    Summary: UK services PMI looks as the paramount point in today’s calendar Final services PMIs from European economies on the agenda as well Some central bank speakers being worth paying attention to This is very likely that liquidity will get worse during afternoon hours trading owing to the Independence Day…

  • AUD boosted by stronger retail sales, PMI

    July 4, 2018

    Summary: Australian dollar has been shored up by stronger than expected retail sales as well as a solid reading of services PMI (AIG) Chinese services PMI beats expectations, the economic surprise index stays at its lowest levels since mid-2016 though Oil trades higher again following another heavy draw of US…

  • Safe haven assets pull back as equities move higher

    July 3, 2018

    Summary: Stocks in Europe recover as German migration agreement is reached SEK surges as Riksbank members deliver a hawkish message Oil moves higher ahead of the API reading European stock markets advance significantly on Tuesday thanks to the German migration dispute being resolved. Most of the major stock benchmarks from…

  • Cryptocurrencies surge as hedge funds may be entering market

    July 3, 2018

    Summary: Coinbase Custody official open for institutional investors Bitcoin (BITCOIN on xStation5) broke above the $6500 handle Group of European banks complete live tests of blockchain platform The cryptocurrency market enjoyed another day of gains yesterday. Bitcoin price is now up 12% since the beginning of second half of the…

  • Economic calendar: Will Riksbank hint at a hike this year?

    July 3, 2018

    Summary: Riksbank is expected to leave rates unchanged, but the focus will be on the forward guidance US durable goods orders should confirm a decline in May, bear in mind that the US stock market to close earlier Crude oil inventories by API should bring another shrinkage Tuesday is a…

  • German political turmoil disappears as Seehofer strikes deal with Merkel

    July 3, 2018

    Summary: Horst Seehofer and Angela Merkel reach a deal on migration so that Seehofer will keep his posts Oil prices bounce back due to a Libyan production stoppage RBA stays on hold, BoJ likely to slash its inflation forecasts later this month This week has begun with a wave of…

  • Equities underperform while oil retreats on Trump’s comments

    July 2, 2018

    Summary: Stock indices from Wall Street trade lower EURUSD trades within the vicinity of 1.16 handle Tesla (TSLA.US) erases all of today’s gains Moods among US equity investors can be named downbeat as all three major benchmarks from Wall Street trade below the level of Friday’s close. Tesla opened higher…

  • Antipodean currencies pull back, stocks trade lower

    July 2, 2018

    Summary: European stock investors launched new week in downbeat moods UK manufacturing PMI beats expectations ISM manufacturing index to be released in the afternoon Moods across the European stock markets can be named mixed at the beginning of a new trading week. It is worth to note that the Russian…

  • Flood in China damages major cryptocurrency mining center

    July 2, 2018

    Summary: A mining center in Sichuan province was damaged by a flood Bitcoin (BITCOIN on xStation5) trades sluggishly in the vicinity of $6300 handle EU report states that cryptocurrencies pose no threat to the sovereign currencies Over the weekend we have seen a rise in the valuation of the most…

  • Economic calendar: Another big week for US dollar

    July 2, 2018

    Summary: UK manufacturing PMI together with US ISM for manufacturing should draw most of attention today An avalanche of US data with the payrolls report being a cherry on top Riksbank will make decisions about monetary policy tomorrow Trade tensions between the US and China have eased somewhat after the…

  • Oil and euro in the spotlight as new week begins

    July 2, 2018

    Summary: Oil prices trade notably lower in the morning following a Trump’s tweet regarding rising output by Saudi Arabia Euro roiled by German politics despite a migration deal agreed last week A bag of macroeconomic releases coming from Asian economies As the new trading week is slowly unfolding oil and…

  • Indices move higher; Euro holds gains as inflation matches expectations

    June 29, 2018

    Summary: Stocks on the rise at the end of H1 Euro attempts to firm up as inflation meets expectations USDCAD pulls back from 1-year high after data Where next for Wheat? Why another Bitcoin rally could be unlikely?  It looks like being a good end to the week for stock…

  • US stocks look to rise into the weekend

    June 29, 2018

    Summary: All US indices in the green in final session of the week, month and quarter US500 holds rising trendline  Favourable seasonality effects could provide boost next week It looks like being a good end to the week for stock market bulls with a sea of green across major indices.…

  • USDCAD pulls back from 1-year high after data

    June 29, 2018

    Summary: Canadian GDP M/M: +0.1% vs 0.0% exp US core PCE 2.0% vs 1.9% exp USDCAD falls back after making 1-year high A batch of data from North America has caused a notable move higher in the Canadian dollar while the US equivalent has fallen back a little in the…

  • Economic calendar: EMU inflation in the spotlight

    June 29, 2018

    Summary: EMU inflation expected to accelerate Will PCE inflation reading from the US justify a move in dot plot? Consensus suggests that the Canadian economy did not grow in April The end of a trading week will be marked by the European inflation reading. Investors will analyze the figures in…

  • Euro gets relief as EU summit results in migration crisis deal

    June 29, 2018

    Summary: Euro jumps substantially after the news that the EU summit in Brussels resulted in a deal on an immigration crisis Risk-on again, JPY moves lower despite a set of encouraging macroeconomic data US dollar loses steam due to the euro bounce retreating from its crucial level The shared currency…

  • US GDP revised lower; EURUSD revisits 1.15 level 

    June 28, 2018

    Summary: US GDP revised lower for Q1 EURUSD retests key level as German inflation meets forecasts Facebook lifts crypto ban CZK reacts to surprise CNB hike  Will European markets bounce in July  US growth in first quarter was slower than previously thought according to the latest GDP figures with an annualised print…

  • German inflation meets expectations; EURUSD retests pivotal 1.15 level

    June 28, 2018

    Summary: German Prelim CPI Y/Y: 2.1% vs 2.1% exp Euro area estimate out tomorrow EURUSD retests key 1.15 level The latest inflation figures form several European countries are out today, with no more important than the German release. The preliminary CPI for Germany came in inline with consensus forecasts with…

  • Equities decline while precious metals trade mixed

    June 28, 2018

    Summary: Facebook eases its approach towards cryptocurrency advertisements European stock markets continuously march lower Final US GDP reading for the first quarter of 2018 to be released in the afternoon Major stock benchmarks from the Old Continent are declining for another day. The most steep declines are observed on the…

  • Facebook lifts cryptocurrency ad ban

    June 28, 2018

    Summary: The US House of Representatives passed a bill aimed at fighting illicit use of cryptocurrencies Bitcoin (BITCOIN on xStation5) is reapproaching the $6000 handle Facebook withdraws from the cryptocurrency ad ban On Monday we wrote about Robert Novy, a US Secret Service official, who has asked Congress to take measures…

  • Economic calendar: Will European CPI reinvigorate euro?

    June 28, 2018

    Summary: Preliminary European inflation readings are the top-tier data for today Final Q1 US GDP release should bring a modest impact to the dollar Swedish retail sales with a chance to support the troubled krona There is quite a lot of stuff packed in today’s macroeconomic calendar nevertheless major attention…

  • NZ dollar retreats post RBNZ decision

    June 28, 2018

    Summary: RBNZ stays on hold as expected, but it offers a bit more dovish stuff BoC’s Poloz brushes off the soft macroeconomic data, July’s rate hike odds stay largely intact Wall Street ends the day lower, US bond yields stay lower mirroring restrained appetite for riskier assets Beginning with the…

  • Oil extends rally on largest DOE drawdown since Sep 2016

    June 27, 2018

    Summary: DOE crude oil inventories: -9.9M Largest drawdown since September 2016 Oil.WTI jumps back near highest level of the year  A massive drop in the weekly crude oil inventory release has provided further support to the rally seen in the oil price since last Friday’s OPEC meeting with Oil.WTI trading…

  • Stocks bounce ahead of US open on Trump and Mnuchin comments

    June 27, 2018

    Summary: Trump chooses less severe plan for Chinese tech investments Mnuchin expecting a "big" GDP number; mixed US data Stock indices bounce sharply higher; Does a recovery lie ahead?  Two positive developments not far apart have caused a fairly sharp bounce in stock indices with the DE30 jumping 200 points…

  • Economic calendar: Will central bank sink NZD?

    June 27, 2018

    Summary: Durable goods orders expected to decrease for the second month Will DOE confirm massive inventories build suggested by API? RBNZ may reinforce its latest dovish message In Wednesday’s calendar we can find some interesting readings and events scheduled. While during the European session we will not get any meaningful…

  • Oil surges as US calls on companies to cut Iranian imports altogether

    June 27, 2018

    Summary: The US State Department says companies buying Iranian crude oil must cut those imports altogether by November NZ dollar declines despite a higher than forecast trade surplus Chinese President Xi Jinping warns provinces, ministers to be prepared for a full-blown trade war Oil prices jumped yesterday after the US…

  • Stocks look to find a footing; USD moves higher

    June 26, 2018

    Summary: Stocks attempt to recover after Monday’s declines USD moving higher despite data miss Swedish PPI surges; Where next for EURSEK? Top 3 charts this week Is the GBPUSD set for a reversal? The week began in quite an ugly fashion for stocks but today’s trade has been more constructive…

  • USD on the rise despite miss in CB data

    June 26, 2018

    Summary: USD making steady gains against most peers Conference Board consumer confidence 126.4 vs 128 exp Index remains near record highs  The US dollar has moved higher in the past hour with the buck now making gains against nearly all of its peers on the day. Recent sessions have seen…

  • US stocks look to recover ahead of potentially key session

    June 26, 2018

    Summary: US indices looking to recoup recent losses on trade concerns US30 closed below 200 day SMA for first time since June 2016 Harley-Davidson falls lower on Trump tweet; Netflix called to open higher The forthcoming US session could be a key one for stock indices with recent declines seeing several…

  • Top 3 charts this week

    June 26, 2018

    Summary: Bitcoin at a make-or-break 6000$ level Will DJIA30 (US30) struggle as the key level is being tested? USDPLN faces 3.75 once again This week does not hold the top-notch calendar events that we got used to - think FED decision, OPEC meeting or the NFP report. But with the…

  • Has Bitcoin reached turning point?

    June 26, 2018

    Summary: Bitcoin price draws a promising candlestick, could it mark a tipping point? BTC daily transactions remain sluggish being a drag on the cryptocurrency One major risk for Bitcoin over the next couple of weeks Recent days have not been supportive of Bitcoin as it’s slipped to the lowest point…

  • Economic calendar: Oil traders’ focus returns to data

    June 26, 2018

    Summary: CB Consumer Confidence expected to remain intact Market consensus suggests the API reading will show a significant decline in inventories Central bankers may spur volatility on EURUSD Trade tensions continue to sink the global equity markets. The German DAX (DE30) has plunged almost 7% from its latest peak and…

  • s denial on investment restrictions

    June 26, 2018

    Summary: US equities tumbled on Monday led by technology stocks US Treasury Secretary denies stories regarding Chinese investment restrictions Risk-off slightly prevails across currencies as JPY catches a bid again The first trading day this week across equity markets turned out really a grim one as major indices took a…

  • Stocks under pressure at the start of the week; TRY lower after earlier gains

    June 25, 2018

    Summary: Stocks fall lower with US30 back at 200 day SMA DE30 drops to lowest level since April Oil slides as Brent-WTI spread narrows Latest CFTC data shows big changes Cryptos make tentative gains After a solid day of gains for stocks on Friday they’ve come back under pressure at…

  • US stocks to start the new week lower

    June 25, 2018

    Summary: US indices in the red ahead of Wall Street open European bourses experience sizable declines US30.cash retesting 200 day SMA After a solid day of gains for stocks on Friday they’ve come back under pressure at the start of the new week with the US indices in the red…

  • Elections push TRY lower, stocks in Europe underperform

    June 25, 2018

    Summary: Erdogan wins presidential elections, no need for the second round Declines across major European stock indices Trade conflict still in the spotlight The general elections in Turkey did not spur any bigger movement across markets. The lira held stable in the morning and is now trading lower against both…

  • Cryptocurrencies: Quebec lifts energy prices as demand from miners surges

    June 25, 2018

    Summary: Quebec authorities temporarily lifted energy prices to counter demand from miners Bitcoin (BITCOIN on xStation5) rebounds from its lowest levels since mid-November 2017 US Secret Service urges politicians to regulate privacy coins The last two months have been far from good for the cryptocurrency market. The capitalization of the whole…

  • Lira stable as Erdogan claims victory in Turkey

    June 25, 2018

    Summary: Erdogan wins presidential elections in the first round Lira stable after the outcome Monetary policy crucial for the currency  Uncertainty was a sky-high on Friday as options market implied a possible 3% move in the Turkish lira in either direction after the weekend’s opening but it proved to be…

  • Oil rises as OPEC reach agreement; Stocks shrug off concerns to move higher

    June 22, 2018

    Summary: OPEC reach new agreement to increase output Stocks rise despite political and trade worries CAD sinks on soft data points Euro fades after earlier gaining on PMIs Bitcoin drops on hacking inquiry  The week’s OPEC meeting in Vienna was highly anticipated and threw up its fair share of twists…

  • OPEC reaches agreement; Oil moving higher

    June 22, 2018

    Summary: OPEC reaches new output deal Organisation finally agrees to increase production by "roughly" 1m BPD Oil rallies to its highest level of the month in reaction The week’s OPEC meeting in Vienna was highly anticipated and threw up its fair share of twists and turns but when all is said and…

  • CAD sinks on soft data

    June 22, 2018

    Summary: Canada CPI Y/Y: 2.2% vs 2.6% exp Retail sales also come in well below forecasts CAD drops sharply after the release The latest data from Canada has come in on the soft side with both inflation and consumer spending figures missing targets. The CPI Y/Y came in at 2.2%, marking…

  • Oil gains ahead of OPEC, European stock markets move higher

    June 22, 2018

    Summary: Euro is rebounding against US dollar Stock indices from the Old Continent are trading broadly higher The US PMIs to conclude this week’s calendar In Europe majority of the major stock benchmarks are posting decent gains today. It is interesting as we are also observing advance of the common…

  • Bitcoin drops, South Korea launches inquiry into crypto hacks

    June 22, 2018

    Summary: Bitcoin accelerates its fall in early trading Friday, a pivotal technical level at stake South Korean govt launches an investigation into cryptocurrency hacks A musician Akon launches his own cryptocurrency token aimed at creating a futuristic city in Senegal Major cryptocurrencies have taken a hit over the recent hours…

  • Economic calendar: EURUSD in the spotlight as PMIs take the stage

    June 22, 2018

    Summary: Preliminary PMIs from Eurozone and US A pack of Canadian data may spur additional volatility on CAD tied FX pairs OPEC to announce its decision today On the final trading day of the week investors will be offered a preliminary PMI readings from Europe. Once they are released in…

  • Japanese core inflation slows down, USD loses ground

    June 22, 2018

    Summary: Japanese core price growth loses steam in May even as headline picks up US dollar trades lower on the day giving back its this week gains Eurozone ministers agree to a debt relief deal for Greece as part of the current bailout programme Equity markets have been little changed…

  • Stocks sink and USD runs into resistance

    June 21, 2018

    Summary: Stock markets turn lower on tariff fears US outperforming China in tech trade war USD runs into resistance GBP jumps on hawkish BoE shift NOK rises on Sep hike hints Crypto little changed after Blankfein offers views After a bright start European markets experienced a pretty poor session with…

  • GS CEO Blankfein offers interesting remarks on crypto

    June 21, 2018

    Summary: Goldman Sachs CEO Lloyd Blankfein says Bitcoin is not for him, but does not say it won’t have a future Another hack in a South Korean cryptocurrency exchange makes just a short-lived dent in the Bitcoin price French watchdog warns about unauthorized platforms offering crypto investments Goldman Sachs CEO…

  • Economic calendar: Central banks from Europe

    June 21, 2018

    Summary: Swiss and Norwegian central banks to make their decisions in the morning Will Bank of England surprise markets with more hawkish message? Oil traders watch out, OPEC meeting kicks off today! Monetary policy enthusiasts will be delighted while looking at today’s economic calendar as several central banks from Europe…

  • NZ dollar lower despite encouraging GDP growth

    June 21, 2018

    Summary: First quarter GDP in New Zealand meets expectations, the kiwi remains on the back foot though UK PM Theresa May wins a Brexit ’meaningful vote’, lawmakers have been stripped of the power to intervene if no deal is reached Iran nods to a small production increase, FT reports Saudi…

  • Stocks recover as Oil rises on DOE draw

    June 20, 2018

    Summary: Stock indices recover after recent weakness Oil gains after DOE draw; OPEC on Firday USD edges higher on Powell comments; Housing data disappoints South African Rand surges on hike hints Crypto mixed following another exchange hack Given the latest tariff talk, stock markets are holding up fairly well with…

  • Housing data disappoints but USD remains higher

    June 20, 2018

    Summary: US homes sales unexpectedly decline  Fed chair Powell talking in Portugal with positive comments  USD gaining on the day It’s been a relatively quiet day on the data front with the only macro data from the US this afternoon the latest housing figures which missed forecasts. A reading of 5.43M…

  • Oil prices pare gains, moderate optimism across equities

    June 20, 2018

    Summary: Oil prices trim their previous gains in the aftermath of a slew of OPEC revelations European equities keep pushing higher, US futures point to a positive open US dollar stays steady, euro and NZ dollar underperform European Wednesday’s trading began positively, albeit upbeat moods have been unable to push…

  • Major coins pull back following another exchange hack

    June 20, 2018

    Summary: Major coins give back some of the recent gains as Bithumb gets hacked Group of the Japanese cryptocurrency exchanges prepared a regulation draft Dash (DASH on xStation5) pulled back to the support zone Declines were observed on the cryptocurrency market in the past hours as news of another exchange…

  • AUD recovers as trade war risks settle down

    June 20, 2018

    Summary: Australian dollar is the strongest currency in early trading paring its recent losses to some extent Dow Jones (US30) extends its losing streak, Asian stocks drive higher Oil prices benefit from a higher than expected fall in inventories reported by API We already wrote yesterday that the Australian dollar…

  • European stocks end lower, euro nudges down on Draghi speech 

    June 19, 2018

    Summary: European stock markets end the day lower but off the lows Trump reignites trade war concerns  Euro trades slightly lower on the back of Draghi’s remarks  Tuesday ended with substantial losses across European stock markets following reignited concerns with regard to a trade war between the US and China.…

  • Trump’s Trade Wars: Top 4 markets to watch

    June 19, 2018

    Summary: Trump reignites trade war concerns ordering to prepare a list of Chinese goods to hit the country if needed DAX (DE30) and Chinese Hang Seng (CHNComp) among the most exposed indices Soybean, AUDJPY could find themselves under pressure should frictions continue China-US trade tensions are taking their toll, albeit…

  • What have we learned from the ECB speakers?

    June 19, 2018

    Summary: Mario Draghi reinforces his dovish message during Sintra conference Erkki Liikanen warns that the interest rates may remain unchanged beyond summer 2019 Euro depreciation accelerated Draghi’s speech with EURUSD touching a 1.1530 handle On Monday the ECB Forum on Central Banking began in Sintra, Portugal. The event will last…

  • Stocks plummet as Trade War gathers momentum

    June 19, 2018

    Summary: Trade tensions sink equities around the world Cryptocurrencies show resilience to the ongoing turmoil Oil pulls back ahead of the API inventories data (9:30 pm BST) Stock markets around the globe continue to bleed amid rising tensions between US and China. Another round of heavy selling stormed markets as…

  • Economic calendar: ECB speakers in the spotlight

    June 19, 2018

    Summary: Several ECB members are scheduled to speak in Sintra during the day US housing data is forecast to be mixed for May Central bank of Hungary should stay on hold with rates Tuesday looks quite calmly in terms of macroeconomic readings, and beyond prints from the US investors will…

  • Trade war escalates as Trump orders to identify new goods to hit China

    June 19, 2018

    Summary: Donald Trump seeks to impose new tariffs on Chinese goods once the country retaliates again Japanese yen quickly higher on further trade war escalation, former BoJ member advises the board to scrap the inflation target Chinese stocks plummet, US yields move down on a safe haven flow RBA minutes…

  • Equities bleed as trade tensions intensify

    June 18, 2018

    The Trade War theme dominated the first trading session of the week causing equity indices to collapse all over the globe. Declines were observed during the Asian, European and now at the beginning of the US session. As a trade spat between China and US continues the outlook for the…

  • Equities’ slump deepens, oil gains momentum

    June 18, 2018

    Summary: Stocks slump accelerates as a EU migration deal seems to be hard to be hammered out within two weeks Swedish krona falls on risks stemming from EU membership referendum Oil gains a foothold as OPEC seeks a lower than initially though production increase European stocks have deepened their declines,…

  • Bank of International Settlements issues warning on crypto

    June 18, 2018

    Summary: Bank of International Settlements (BIS) issues a warning suggesting cryptocurrencies are not scalable and are likely to suffer a breakdown Brazilian entrepreneur creates a Bitcoin-powered coffee machine to prove the virtual currency has various potential use Two Russian largest banks pilot crypto portfolios for their private customers Over the…

  • Economic calendar: Oil could dominate this week

    June 18, 2018

    Summary: OPEC and non-OPEC meeting seems to be the paramount point in this week calendar Bank of England is expected to leaves rates unchanged, the outlook for a rate hike in August still blurred A set of preliminary PMI readings for June to be released later this week Shortly after…

  • Trade tensions mount as China announces its tariffs

    June 18, 2018

    Summary: China announces retaliatory levies on US imported goods worth roughly $34 billion starting on 6 July Stocks’ slump extends, a slight risk-off mode seen across currencies Three OPEC members are likely to block a proposal to increase production In line with expectations the US administration imposed new tariffs on…

  • Stocks and metals under pressure as new US tariffs unveiled

    June 15, 2018

    Summary: Stocks fall as US announce 25% tariffs on China  DE30 and UK100 amongst the biggest fallers Precious metals also decline; US data mixed Crypto set to end back week in the red Trade tensions between the world’s two largest economies have ratcheted up further today with the US announcing…

  • Surprise drop in US industrial production; Precious metals tumble 

    June 15, 2018

    Summary: US industrial production M/M: -0.1% vs +0.2% exp Uni Mich beats forecasts but prior revised lower Precious metals make sharp move lower The final US data of the week has come out in a mixed fashion with industrial production unexpectedly declining for the month of May but the latest…

  • Trump announces Chinese tariffs; Wall Street to open lower

    June 15, 2018

    Summary: US announce 25% tariff on $50B of Chinese imports Development another step closer to a trade war US indices lower ahead of Wall Street open; Soybeans slump Trade tensions between the world’s two largest economies have ratcheted up further today with the US announcing new tariffs on $50B in…

  • Stocks partially erase post-EBC gains, EURUSD below 1.16 handle

    June 15, 2018

    Summary: European indices post declines on the final trading session of the week Monetary authorities sent EURUSD below the 1.16 handle Some US data scheduled for release today The landscape after the decisions of the world’s two most important central banks is blur. Hawkish Fed turned out to be hurdle…

  • BoC official questions blockchain efficiency

    June 15, 2018

    Summary: Latest slump could have been caused by Bitcoin futures expiration ETHEREUM pulls back below the $500 handle SEC and BoC officials made interesting remarks concerning blockchain Most of the major cryptocurrencies are trading lower on the day yet it is worth to note that many coins advanced overnight thanks…

  • Economic calendar: Will USD maintain this week gains?

    June 15, 2018

    Summary: Final inflation from the euro area should confirm a healthy bounce in May Industrial production along with consumer confidence measured by UoM among the most important readings this afternoon The US dollar has performed the best so far this week comparing to its major peers in G10. However, as…

  • BoJ downgrades assessment for CPI, euro stays depressed

    June 15, 2018

    Summary: Bank of Japan leaves its monetary policy settings unchanged as per expectations, an assessment for inflation downgraded Euro keeps trading far below 1.16 following a heavy drop post ECB WSJ reports Trump’s list of imported Chinese goods being embraced of tariffs to be similar to the preliminary one The…

  • Stocks soar and Euro sinks as ECB announce taper plans

    June 14, 2018

    Summary: ECB reveal plans to taper APP by year-end; Draghi strikes dovish tones Strong selling in Euro and DE30 rallies strongly higher in reaction USD on the rise following retail sales beat GBP volatile after UK consumer spending picks up Crypto looks to recover after recent rout There were some major…

  • US stocks receive ECB boost but resistance lies overhead

    June 14, 2018

    Summary: US indices dragged higher by dovish ECB US500 revisits recent highs near 2800 However, possible reversal signal printed yesterday   The incredible rally seen in European indices since the ECB caught markets off guard with a more dovish than expected announcement earlier today, has lifted indices all over with the US…

  • US retail sales beat estimates; Draghi supports dovish taper

    June 14, 2018

    Summary: US core retail sales M/M: +0.9% vs +0.5% exp Draghi strikes dovish tones in press conference EURUSD drops below 1.17; DE30 above 13000  A batch of data from the US has shown several positives for the world’s largest economy. First off, retail sales beat with the M/M reading for the headline…

  • ECB keeps rates unchanged, QE to be halted by end of year

    June 14, 2018

    The European Central Bank decided to keep all interest rates unchanged as expected announcing its asset purchase programme would be reduced after September to December by 15 billion EUR per month, and then to be halted altogether. This means that since 2019 there will be no net asset purchases except…

  • European stocks pull back ahead of ECB, GBP moves higher

    June 14, 2018

    Summary: GBP surges on retail sales report Bitcoin crawls back above the $6500 handle All eyes on the ECB (decision - 12:45 pm BST, conference - 1:30 pm BST) Yesterday’s Fed decision caused Wall Street benchmarks to close lower. The bearish moods are visible in Europe today as well yet…

  • Ripple CEO explains why Bitcoin won’t be a global currency

    June 14, 2018

    Summary: Brad Garlinghouse makes interesting remarks on Bitcoin Litecoin (LITECOIN on xStation5) bounces off the $90 handle Coinbase opens a crypto index fund for the US investors The cryptocurrency sphere still tries to lick its wounds after the latest sell-off. The capitalization of the whole market sits subtly below $280…

  • Economic calendar: Fed passes the baton to ECB

    June 14, 2018

    Summary: ECB meeting is the most important event today, but it’s not the only game in town UK retail sales could provide more insight for GBP traders Swedish inflation report remarkably important as Riksbank sticks to a rate hike later this year The Federal Reserve did its job yesterday, and…

  • Calm Asian response to monetary tightening in the US

    June 14, 2018

    Summary: Asian equity markets trade slightly lower on Thursday following a rate hike delivered by the Fed Australian jobs report mixed, investors look a bit perplexed as Aussie drives subtly lower Chinese May’s set of data disappoints across the board US President Donald Trump is expected to discuss tariffs on…

  • Oil rises on DOE draw; markets await the Fed decision

    June 13, 2018

    Summary: Oil rises after large DOE drawdown Another US inflation metric hits a 6-year high Cryptos sink on price manipulation concerns GBP dips as inflation remains at 2.4% Y/Y Fed decision at 7pm (BST) The price of crude has jumped higher this afternoon after the latest US inventory data showed…

  • Large inventory draw sees Oil jump higher

    June 13, 2018

    Summary: DOE crude oil inventories: -4.1M vs -1.4M exp US production rises by 100k to 10.9M - new record high Oil jumps higher in initial reaction The largest draw in the DOE inventory release since the start of April has caused a spike higher in the price of oil, although…

  • USD looks through another inflation beat; Silver looking to move higher

    June 13, 2018

    Summary: US PPI Y/Y: +3.1% vs 2.8% expected Second inflation beat from the US in 2 days; Fed decision 7pm (BST) USD slightly lower on the day; Silver at 7-week high  There are growing signs that US inflation is running hot, with the release of the second above forecast inflation metric in…

  • Cryptocurrencies sink on price manipulation concerns

    June 13, 2018

    Summary: University of Texas scholars suggest that Bitfinex may have been manipulating Bitcoin price A global cryptocurrency exchange rules may be looming Reserve Bank of India admits it has not researched the digital asset sphere before issuing a ban Over the past 24 hours cryptocurrency market took a hit as…

  • 3 markets ahead of the Fed/ECB

    June 13, 2018

    Summary: Fed to raise rates, outlook crucial for the dollar ECB could announce termination of the QE program  DE30 rebounded from the key 12600 support EURUSD looks weak below the 50-day LWMA Gold prices at the lower limit of a triangle waiting for a signal What will Fed do? In…

  • Economic calendar: What to watch for beyond the Fed?

    June 13, 2018

    Summary: All eyes on the Federal Reserve as it’s broadly expected to tighten policy again UK inflation in the limelight before noon as GBP gets closes to its crucial support US PPI along with DoE report should draw attention before the Fed decision Today is all about the Federal Reserve…

  • Trump ready to slap China with tariffs on Friday

    June 13, 2018

    Summary: US President Donald Trump is likely to finalise a list of imported goods being burdened with levies as soon as Friday Reserve Bank of Australia Lowe offers several reassuring remarks Asian stocks lower, safe haven currencies slip along with oil prices Each morning post this week we are beginning…

  • USD lower despite inflation at highest since 2012; Equities mixed

    June 12, 2018

    Summary: US inflation rises to 6-year high. CPI Y/Y 2.8% USD fails to gain with USDSEK potentially vulnerable to more downside US markets edging higher but some red seen in Europe GBP keeps gains despite slower wage growth Trump-Kim summit sees muted reaction  The most recent inflation data from the US…

  • PTJ: “Stock market has the ability to go a lot higher”

    June 12, 2018

    Summary: Legendary hedge fund manager Paul Tudor Jones comments on the markets Stock market could go "crazy" to the upside later this year US500 remains near 3-month peak; JAP225 retesting key swing level at 23030 With the US cash session now underway there’s been a fairly mixed start for US…

  • US inflation at highest level in 6 years but USD lower on the day

    June 12, 2018

    Summary: US CPI Y/Y: 2.8% vs 2.5% prior Core reading Y/Y: 2.2% vs 2.1% prior USD remains lower on the day; Traders await the Fed tomorrow The most recent inflation data from the US has shown a small increase although the market reaction has been fairly muted with traders possibly…

  • European equities trade mixed, US inflation report in the spotlight

    June 12, 2018

    Summary: Trump-Kim summit did not shock the markets German ZEW expectation index drops to the lowest levels since 2012 Investor focus shifts to the US inflation report as FOMC starts its meeting Despite signed agreement the long-awaited meeting between the US and North Korean leaders did not translate into any…

  • Stocks make bright start to new week; GBP tumbles on soft data

    June 11, 2018

    Summary: Italian stocks surge higher after economy minister remarks GBP drops after weak data Crypto under pressure after large drop US-N.Korea talks progressing quickly Fed/ECB preview Stocks on the whole seem to have made a bright start to the week with the ITA40 leading the way higher. The benchmark has…

  • US-N. Korea talks progressing “more quickly than expected”; Precious metals in focus

    June 11, 2018

    Summary: White House deliver positive update ahead of historic summit Trump to meet Kim Jong Un. Press conference expected Tues 1PM (BST) Silver, Gold and Platinum could be set for decisive week We earlier noted that the forthcoming week could be a big one in the markets with the Fed and…

  • Cryptocurrencies try to recover, Italian stocks surge

    June 11, 2018

    Summary: G7 leaders fail to reach a consensus Attention shifts to ECB and FOMC decisions that will be made later this week A cryptocurrency exchange hack sinks digital assets Leaders of the G7 group failed to reached consensus during the summit with the US president rejecting the joint communique. However,…

  • Bitcoin plunges below $7000 as Coinrail gets hacked

    June 11, 2018

    Summary: Cryptocurrency markets dips below $300 billion as South Korean exchange gets hacked Banks from another South American country are said to be shutting down exchanges’ accounts Dutch central bank has published the results of its four-year test of the blockchain technology Another rout stormed the cryptocurrency market over the…

  • Economic calendar: Three days, three big events ahead

    June 11, 2018

    Summary: Trump meets with NK leader Kim Jong Un, markets hope for a breakthrough in terms of denuclearization Fed and ECB meet later this week, major attention to ECB’s possible APP exit plan Industrial data from the UK should draw attention today This week is full of crucial economic events…

  • US equities seem exhausted, attention turns to G7 summit

    June 8, 2018

    Summary: US equities do not seem eager to maintain rally Japanese yen trades as the best G10 currency as investors shift to less risky assets The outcome of the G7 summit starting today in Canada may shake the markets US equities post minor declines during the final trading session of…

  • Equities pull back ahead of G7, AUD and SEK underperform

    June 8, 2018

    Summary: Uncertainty over G7 summit weights on the equity markets Japanese yen gains on the risk-off attitude CAD traders await labour market report release With almost empty macroeconomic calendar Friday’s early trading has been dominated by declines across Asian and European equity markets. As the risk-on attitude waned the JPY…

  • Economic calendar: It’s all about Canadian payrolls

    June 8, 2018

    Friday looks quite poorly in terms of macroeconomic readings, and the sole one being worth looking at is the Canadian jobs report for May. On top of that, the G7 summit in Canada starts today. Notice that the Loonie has been mixed of late being supported by rising oil prices…

  • Trade data in focus, Turkey ready to lift state of emergency

    June 8, 2018

    Summary: China’s trade balance shrinks in May, but not with the US Japanese BoJ likely to cut its inflation forecasts when it meets next week Turkey’s Erdogan signals a state of emergency could be lifted soon Asian trading is bringing quite massive falls across equity markets even as Wall Street…

  • Lira rallies on CBRT rate hike; US stocks near 3-month highs

    June 7, 2018

    Summary: TRY rallies as Turkish central bank hike rates again  US stocks trade at highest level since mid-March Copper extends strong recent rally GBP sensitive to latest Brexit developments Bitcoin edges higher in quiet trade There’s been a strong move in the Turkish Lira today with both EURTRY and USDTRY dropping…

  • US stocks near 3-month high; Amazon broadens horizons further

    June 7, 2018

    Summary: US500 at highest level since March Tech stocks leading the rally with US100 hitting another record peak Amazon near all-time high; Agrees deal to broadcast PL football  It’s shaping up to be a nice week for US stock market bulls with the US500.cash trading at its highest level since…

  • GBP sensitive to latest Brexit developments

    June 7, 2018

    Summary: UK PM May backs down on backstop option regarding Irish border Davis stays on as Brexit secretary GBPUSD pulls back from 2- week high There’s been a fairly strong move lower in the pound this lunchtime after the announcement that UK PM May has agreed to add a time limit in…

  • Lira shoots up as central bank hikes rates

    June 7, 2018

    Summary: Turkish central bank increases its repo rate much more than expected Other rates were also lifted, more tightening promised if needed USDTRY falls to a crucial support Expectations ahead of today’s meeting were strongly divided, hence a quick upside move on the lira should not be surprising. The central…

  • All eyes on CBRT, stocks in Europe lag behind Asian peers

    June 7, 2018

    Summary: Stock markets in Europe trade with little upside Euro continues rebounding against the US dollar Markets await CBRT interest rate decision European equities post minor gains on Thursday on the back of an upbeat sessions in the US and Asia yet the scale of advance on the Old Continent…

  • Bafin is aware that German banks trade cryptocurrencies

    June 7, 2018

    Summary: Bafin is aware that some of the German financial institutions are involved in cryptocurrency trading Bitcoin (BITCOIN on xStation5) re-approaches the 61.8% Fibo level Bank of Thailand explores the potential of blockchain in order to launch central bank digital currency The major cryptocurrencies managed to recover somewhat during past…

  • Economic calendar: Hike or not hike. What will CBRT do?

    June 7, 2018

    Summary: Central Bank of Turkey is expected to raise (some) rates during today’s meeting, lira trades subtly lower in the morning Chinese FX reserves data could be conclusive whether the PBoC cuts or not RRR for banks US weekly jobless claims the sole reading of note from the US this…

  • Asian stocks higher, weakish data from Australia

    June 7, 2018

    Summary: Most of Asia-based stock markets gain following a successful session on Wall Street US dollar on the back foot losing the most in the G10 basket Australian data (including trade) comes in below expectations, AUD delicately poised in the morning Three prime indices in the US ended Wednesday with…

  • Oil falls after inventory rise; USDCAD sensitive to trade talks and data

    June 6, 2018

    Summary: Oil.WTI retests weekly lows after DOE reports 2M build USDCAD falls lower on latest trade developments TRY moving higher ahead of CRBT decision Crypto markets little changed AUDUSD trade recommendation from Citi The recent price action in Oil has turned distinctly bearish, with sizable declines noticeable after the market reversed…

  • Oil drops on DOE build

    June 6, 2018

    Summary: DOE crude oil inventories: +2.1M vs -2.0M exp API inventories showed -2.0M Oil.WTI back under pressure and near weekly lows The recent price action in Oil has turned distinctly bearish, with sizable declines noticeable after the market reversed lower not long after last week’s inventory figure. The reading this time…

  • Trade in focus for USDCAD

    June 6, 2018

    Summary: CAD rising across the board on hopes for US trade deal Canadian trade balance rises more than expected US equivalent also above forecast It’s been a good day for the Loonie so far with the Canadian dollar rising across the board and currently the best performer out of all the…

  • Turkish Lira delicately poised ahead of rate decision

    June 6, 2018

    Summary: The Turkish Lira has recovered after hitting its lowest ever level last month Emergency rate hike saw major reversals in EURTRY and USDTRY Central Bank rate decision Thursday 12PM (BST). Will they hike again? One of the biggest moves seen in the markets this year has been in the…

  • Spanish equities outpace European peers, JPY and CHF under pressure

    June 6, 2018

    Summary: Equities in Europe post modest gains on Wednesday morning, Spanish IBEX surges Japanese yen and Swiss franc remain under pressure Brent trades flat ahead of DOE report release A positive developments in the Trade Wars theme support the positive sentiment towards the equity market. However, advances in Europe are…

  • Economic calendar: Trade and oil data to dominate Wednesday

    June 6, 2018

    Summary: US and Canadian trade data in the spotlight amid simmering trade tensions Oil prices bounce back ahead of the DoE release, API produced a heavy draw in inventories ECB and BoE speakers on the agenda, stay tuned ahead of the ECB meeting It looks that Wednesday will be dominated…

  • Commodity currencies bounce back on two major topics

    June 6, 2018

    Summary: Australian dollar trades notably higher in the morning following surprisingly strong GDP growth Canadian dollar gains momentum as well as Steven Mnuchin urges Trump to exempt the country from steel and aluminium tariffs Euro moves beyond 1.17 as leaks related to the next week ECB meeting already popped up…

  • USD and GBP rise on strong service numbers

    June 5, 2018

    Summary: USD on the rise as ISM beats forecasts GBP also gaining on strong services print Apple shares make new record high Crypto markets mixed as Apple co-founder remains optimistic How will USDCAD react to NAFTA and OPEC events? The US dollar was on course for a solid day of gains…

  • USD on the rise as ISM tops forecasts; USDMXN hits 15-month high

    June 5, 2018

    Summary: USD rising against all its peers barring GBP ISM beat adds to demand for the buck USDMXN back above 20 handle; 15-month high The US dollar was on course for a solid day of gains before the latest US data and a better than expected ISM release has boosted…

  • Wall Street set for flat open; Apple to begin at record high

    June 5, 2018

    Summary: US stock markets called to open broadly flat Monday saw a steady day of gains Apple set for record open; Not far from $1T valuation As attention turns to the US session the morning’s trade in Europe has been quite interesting with the DE30 and SPA35 enjoying solid gains,…

  • Equities advance for the second day, oil retreats ahead of API

    June 5, 2018

    Summary: Italian stocks rise during Conte maiden speech GBP surges on the services PMI beat Brent retreats below the $75 handle European stocks advance for the second day with the German DAX being the leader. GBP is the best currency out of the G10 basket thanks to the PMI services…

  • Apple co-founder remains optimistic about Bitcoin

    June 5, 2018

    Summary: Steve Wozniak hopes that Bitcoin will become the native currency of the Internet Bitcoin (BITCOIN on xStation5) eyes a test of the short term support zone Universities in US are investing a small portion of their endowment funds in the crypto hedge funds Yesterday was a good the for…

  • s govt set for confidence vote

    June 5, 2018

    Summary: RBA leaves rates unchanged in line with expectations, dovish lines still included Chinese services PMI matches expectations in May Spanish IBEX (SPA35) failed to break above its crucial resistance on Monday, a new Italian government is set for a vote of confidence today We were not offered any price…

  • US stocks make bright start; USD pulling back

    June 4, 2018

    Summary: US stocks begin the week brightly and look to break higher USD falling back with soft 2nd tier data from US AUD rising on positive data Big week ahead for TRY Crypto markets in the red It’s been a bright start to the week for US indices with the…

  • US factory orders fall more than expected; USD losing ground

    June 4, 2018

    Summary: US factory orders for April M/M: -0.8% vs 0.4% exp 2nd worst reading in the past 9 months USD losing ground against majority of its peers; AUDUSD breaking higher It’s a quiet day on the economic data front with some 2nd tier data from the US the only real…

  • US stocks looking to break higher

    June 4, 2018

    Summary: US stocks set for green open  US500 moves to highest level since mid-March Looking to join US100 and US2000 in technical break higher The market moves following last Friday’s NFP release were clearly impacted by Trump’s tweet ahead of time with the US dollar and Gold failing to show meaningful follow…

  • Stocks continue rises, commodities fall back

    June 4, 2018

    Summary: Stock markets continue moving higher as politics-related risks abate Commodities grind lower across the board Turkish lira in the spotlight ahead of the CBRT meeting later this week Monday has brought some decent gains across equity markets so far, while commodities have remained on the back foot. However, moods…

  • Has Google obeyed the law banning crypto ads?

    June 4, 2018

    Summary: Google’s ban on cryptocurrency adverts comes into effect this month, there is some guesswork Google may not obey the law Crypto-mania spreads over seniors in Japan, a country’s crypto centre launches a comprehensive course for them Indonesian regulator gives green light for digital currency futures trading Over the past…

  • Equities rise, AUD gains on the data

    June 4, 2018

    Summary: Equity markets on the rise even as trade tensions rise AUD gains on solid data, key events in the week ahead for the Aussie AUDUSD could see gains technically  Last week was dominated by a returning Trade Wars story as president Trump announced tariffs on steel and aluminium imports…

  • Economic calendar: Huge week for Turkey

    June 4, 2018

    It’s not common for any releases from Turkey to be on top of the traders list for a week but that’s exactly the case this time as the CBRT is under massive two-way pressure and the lira has been arguably the most volatile currency this year. Elsewhere the focus will…

  • Trump tweet steals NFP headlines; US and UK manufacturing beat

    June 1, 2018

    Summary: NFP moves back above 200k and wages rise; unemployment at 18-year low USD higher as ISM beats forecasts GBP on the rise after UK manufacturing rises Italian government sworn in; Rajoy replaced by Sanchez Bittrex to allow crypto trading in USD The monthly payrolls numbers from the US always…

  • Strong ISM adds to solid jobs report; USD on the rise

    June 1, 2018

    Summary: ISM Manufacturing PMI: 58.7 vs 58.3 exp Beat ends 2 consecutive misses for this metric USD enjoying solid day of gains The final economic release of the week of note has come in better than expected with the latest US manufacturing reading supporting the earlier NFP in portraying strength…

  • NFP beats forecasts to top 200k; Wages tick higher

    June 1, 2018

    Summary: NFP employment change 223k vs 189k exp Average earnings Y/Y rises to 2.7%  Trump tweet impacts market reaction The monthly payrolls numbers from the US always feature prominently on Trader’s radars and today’s release was even more keenly anticipated following a well-time Trump tweet. The US president posted on…

  • All eyes on NFP report, European stocks edge higher on politics

    June 1, 2018

    Summary: European indices edge higher as political uncertainty wanes US Dollar Index holds steady ahead of the NFP report The UK manufacturing PMI bounces off the multi-month low The final trading day of the week brought some clarity to the political situation in some of the biggest EU economies. In…

  • Bittrex will allow crypto trading with US dollars

    June 1, 2018

    Summary: Bittrex will allow corporate clients to trade cryptocurrencies against US dollars Ripple (RIPPLE on xStation5) may be looking to test $0.62 handle once again IMF official suggest that fiat currencies may become less competitive than digital assets Digital assets continue to recover after most of the major coins tested…

  • Italy’s government ready to be sworn in, Rajoy ready to be ousted

    June 1, 2018

    Summary: Giuseppe Conte will seek a confidence vote for his government ending almost 3 months of political uncertainty Spanish PM Mariano Rajoy is likely to be ousted as opposition parties garner a sufficient majority to vote against him A bunch of macroeconomic releases during Asian hours trading It’s been an…

  • Economic calendar: not just the NFP

    June 1, 2018

    Friday’s calendar is heavy with releases. The focus will be on the NFP data obviously but investors have much more to look into, starting from the very morning: PMI indices - until 9:30am GMT in Europe The PMIs are sometimes overlooked but it’s not the time to go past these…

  • US announce metal tariffs on allies; Oil falters despite DOE drawdown

    May 31, 2018

    Summary: US announce metal tariffs on EU, Canada and Mexico CAD drops lower on tariffs and GDP miss Oil falters despite DOE draw Euro area inflation jumps sharply higher US PCE rises more than forecast  This afternoon Commerce Secretary Wilbur Ross has announced that the US will begin levying tariffs…

  • Oil turns lower despite DOE draw

    May 31, 2018

    Summary: DOE inventories: -3.6M vs -0.4M exp and +5.8M prior Despite the drawdown, Oil price drop sharply following the release Oil-Oil.WTI spread moves above $11 - highest since 2015 The latest weekly inventory data from the US has shown a large drawdown in the headline DOE figure but despite this…

  • Canadian GDP misses forecasts; CAD pares recent gains

    May 31, 2018

    Summary: Canadian Q1 GDP Q/Q: 1.3% vs 1.8% exp Reports that the US is set to impose tariffs on Canadian steel CAD pares Wednesday’s gains   There’s been a pretty sizable pullback in the Canadian dollar this afternoon after the latest GDP figures missed forecasts while reports that the US is…

  • US PCE rises more than forecast but USD still lower on the day

    May 31, 2018

    Summary: US core PCE index M/M: 0.2% vs 0.1% exp   Initial jobless claims falls to 221k  USD moving lower despite the data Inflation has been an important theme today, with the Euro area CPI flash estimate beating forecasts and we’ve just had some more higher than expected figures from the…

  • Eurozone inflation rises more than forecast; EURUSD above 1.17

    May 31, 2018

    Summary: EUR flash CPI estimate Y/Y: 1.9% vs 1.6% exp Core CPI flash estimate 1.1% vs 1.0% exp EURUSD above 1.17 The most recent inflation data from the Euro area has shown a sharper increase than expected with the Y/Y reading rising to its highest level since last April. The…

  • Economic calendar: CAD GDP and Oil inventories 

    May 31, 2018

    Summary: Canadian GDP due out this afternoon after Weds BOC Oil inventories to be released after big up-day for crude US PCE could be key for USD and Gold Wednesday’s session saw stocks and the Euro look to recover from the declines seen at the start of the week on…

  • Stocks and Euro look to rebound; CAD soars on hawkish hold

    May 30, 2018

    Summary: Stocks look to recover from rout on Italian political turmoil EURUSD showing possible reversal signs on supportive data points CAD rallies strongly as BOC announce hawkish hold SEK strengthens as wage growth shoots up Oil.WTI technical overview Stock indices have looked to recover today following Tuesday’s rout on the Italian…

  • Hawkish hold from BOC sends CAD soaring higher

    May 30, 2018

    Summary: Bank of Canada keep overnight rate on hold at 1.25% Statement drops "cautious" phrase in reference to rates USDCAD drops around 150 pips to fall below 1.29 The latest rate decision from the Bank of Canada has caused a strong move higher in the Canadian dollar, despite keeping the…

  • Data supports bullish reversal in EURUSD

    May 30, 2018

    Summary: German CPI Y/Y: 2.2% vs 1.9% exp ADP employment change: 178k vs 191k (prior revised down to 163k) EURUSD forming possible reversal signal at key support  There’s been a few data releases in the past hour that taken together are clearly positive for the EURUSD, and given that the pair…

  • Europe tries to pare drop, safe haven assets step back

    May 30, 2018

    Summary: European stocks try to recover after yesterday’s hit Swedish krone outperforms its major peers US GDP and inflation readings scheduled for the afternoon The dust after yesterday’s rout on the global stock markets seem to have already settled. A wide recovery is observed across European blue chip benchmarks. However,…

  • What’s next for Italy?

    May 30, 2018

    Summary: Political chaos in Italy spoils market moods  Surging bond yields revive debt sustainability concerns ECB has ways to support the Italian bond market EURUSD defends the key support DE30 picks up but outlook mixed What’s the problem? Why are markets so obsessed about the Italy in the first place?…

  • Economic calendar: North America dominates calendar

    May 30, 2018

    Summary: Important inflation, GDP and labour market readings for USD Bank of Canada to make interest rate decision in the afternoon US central bankers will discuss changes to Volcker Rule in the evening Stock markets all around the world accounted heavy losses yesterday on the back of uncertainty spurring from…

  • US banks drag Wall Street down as Italian woes don’t subside

    May 30, 2018

    Summary: US banks were among the worst stocks on Wall Street during Tuesday’s session Asian equities drop alike, some second-tier macroeconomic readings from Asian economies Moody’s rating agency singles out risks for emerging markets Italian woes continue spreading over other markets, and it was perfectly seen on Wall Street yesterday…

  • Gold seesaws around 1300 on Italy and Chinese tariffs

    May 29, 2018

    Summary: Gold falls after earlier attempting to rally  White House puts $50B tariffs on China CB Consumer confidence: 128.0 vs 128.2 exp It’s been a bit of a seesaw day for Gold traders, with the precious metal seeing a swift move higher met with a firm rejection which has caused…

  • Make or break session for US stocks

    May 29, 2018

    Summary: Risk-off sentiment causes US500 to fall to 2-week low Price dips below prior support at 2701 Failure to recapture 2701 could see a sustained push lower The fallout from the latest political developments in Italy has soured global risk sentiment with not only European markets effected, but also Asia and…

  • All eyes on Italy, bloodbath on stock markets continues

    May 29, 2018

    Summary: Carnage on the European stock markets Italian 10-year yield up over 15% Cryptocurrencies take a hit along with stocks In spite of almost empty macroeconomic calendar investors cannot complain about the lack of motion in the markets. Turmoil in European politics sent stocks from the Old Continent plummeting. A…

  • Stocks plummet on Italian political turmoil; EURUSD at 2018 lows 

    May 29, 2018

    The latest political developments in Italy have caused some major moves, with more instability sinking stocks and weighing on the Euro. In the short video below we focus on markets that have all been effected by this in our 3 markets to watch this week: ITA40 hits the lowest level…

  • Ethereum suffers from shrinking ICOs and other projects

    May 29, 2018

    Summary: Ethereum slumped approximately 14% in less than an hour experiencing a much deeper pullback compared to its major peers Bank of England has yet to close the door on a central bank-issued digital currency Maersk, the world’s largest shipping company, deploys its first blockchain platform for marine insurance Turmoil…

  • Economic calendar: Will ECB members save euro?

    May 29, 2018

    Summary: CB Consumer Confidence to be released in the afternoon Several ECB members scheduled to speak today As the most important reports planned for this week are going to be released in the second part of it Tuesday seems to be the lull before the storm. However, as several European…

  • Italy gets interim PM, USDJPY lower as US yields slip

    May 29, 2018

    Summary: Asian equities trade lower on Tuesday as Italy-related political concerns intensify Japanese yen gains traction after the labour market release for April Fed’s Bullard says it should be cautious with further rate increases Brexiteers warn the UK could keep paying into the EU until 2027 Italian and Spanish politics…

  • European stocks erase gains, Antipodean currencies on the rise

    May 28, 2018

    Summary: Italian stocks erase early advance Antipodean currencies rally Bloomberg Galaxy Crypto Index has declined almost 25% since inception The optimism seen across the European stock markets in the morning has waned already. Following higher opening major stock indices from the Old Continent marched south erasing all of their gains.…

  • IHS Markit develops new blockchain-based system

    May 28, 2018

    Summary: IHS Markit, being famous for a PMI indicator, develops a new blockchain-based system Chilean bank reopens accounts of local crypto exchanges following the court order Make it or break it? Litecoin gets closer to its crucial support area According to revelations obtained by CoinDesk IHS Markit is developing a…

  • Economic calendar: Crucial reports for the EURUSD

    May 28, 2018

    Summary: Will US PCE inflation data show a reason for four hikes? Flash inflation from EMU to be released on Thursday Earnings growth in the US expected to remain unchanged Following a week where geopolitical developments dominated the markets we are in for an interesting week in terms of reports,…

  • European indices hit with more political turbulence; Oil slides on Saudi comments

    May 25, 2018

    Summary: European indices set to end bad week near the lows Spain follows Italy in providing a source of political uncertainty Oil also slides with Saudi minister warning of growing supply USD set for another week of gains; mixed durable goods data It’s been a challenging week for European stocks…

  • Mixed US data has little impact on USD; Greenback set for another weekly gain

    May 25, 2018

    Summary: Durable goods orders miss but core reading beats USD set for 5th gain in last 6 weeks Gold continues to rise above 1300 The latest consumer spending data from the US has sent some fairly mixed signals on the sector, with the a pretty large drop in the headline…

  • Political disruption in Spain weighs on SPA35 and Euro

    May 25, 2018

    Summary: Spanish stocks tumble as pressure grows on Rajoy 2 parties threaten to issue vote of no confidence Euro also drops with EURUSD hitting fresh lows It’s shaping up to be a pretty ugly day for Spanish investors with the SPA35 plunging almost 3% on growing political disruption in Madrid. Spanish…

  • Oil slips on Saudi comments

    May 25, 2018

    Summary: Oil drops to its lowest level of the week  Price dips below $77 after comments from Saudi Oil minister Al-Falih: "Likely to be a gradual oil supply boost in second half [of the year]" There’s been a swift drop lower in the oil price this morning after some comments…

  • Fed speakers, Ifo dominate Friday

    May 25, 2018

    Summary: Friday calendar is dominated by US events There’s a ton of FOMC speeches which could confirm or dispel a dovish tint of the minutes  Ifo is a major release in Europe Friday’s calendar is mostly about the US data and speeches, most notably from Jerome Powell. The Ifo index…

  • Yen down on weaker inflation figures

    May 25, 2018

    Summary: Yen is the weakest G10 currency after weaker Tokyo inflation report Equity markets in Asia remain unimpressed Precious metals ease today after yesterday’s bounce  Asian session was relatively benign with only minor moves taking place across the FX and equity sphere. On the currency front the Japanese yen is…

  • Stocks slide as Trump cancels N.Korea summit

    May 24, 2018

    Summary: Trump calls of N.Korean summit; Gold breaks back above 1300 DE30 falls to its lowest level of the week with automakers leading the declines  ECB minutes see no major developments; Euro edging higher GBPUSD looks to recover as retail sales bounce back Lira reverses surge despite emergency hike It’s…

  • Trump calls off N.Korea summit; Gold breaks back above 1300

    May 24, 2018

    Summary: US President Trump cancels meeting with N. Korea leader Kim Jong Un Meeting had been seen as signalling end of tensions Risk-off flows evident with Gold spiking higher and stocks falling Breaking news from the US that president Trump has cancelled his highly anticipated meeting with N.Korean leader Kim…

  • Euro edging higher after ECB minutes; stocks under pressure

    May 24, 2018

    Summary: Euro making steady gains against most currencies ECB minutes: "confident that inflation would rise" DE30 threatening to break lower The Euro has been moving higher in the last hour or so after the release of the latest minutes from the last ECB minutes. The single currency has been under…

  • GBPUSD looks to recover as retail sales bounce back

    May 24, 2018

    Summary: GBPUSD hit a 2018 low yesterday near 1.33 UK retail sales bounce back in April FOMC minutes slightly dovish and may also aide a recovery  The GBPUSD has been in a near constant state of decline these past few weeks as the BoE performed a pretty dramatic U-turn on a…

  • Economic calendar: Not all about Wednesday

    May 24, 2018

    Summary: UK retail sales data expected to show further deterioration Will ECB Minutes help euro recover? Vast array of central bankers’ speeches during the day Super Wednesday is already behind us but that does not mean the week is over! Both EUR and GBP traders will find some top-tier data…

  • Tariffs talk dominates minutes in Asia

    May 24, 2018

    Summary: FOMC minutes were on the dovish side, USDJPY pulls back Trump digs into auto imports, new tariffs on the horizon? DE30 paints evening star formation, is a reversal on the way? FOMC minutes paint a slightly dovish picture One of the major calendar events yesterday was minutes from the…

  • Risk-off returns as stocks and Oil slump; Euro PMIs disappoint

    May 23, 2018

    Summary: European markets fall lower on risk-off flows  Eurozone PMIs suggest slow down may be more than temporary US500 closes gap higher Oil slides on large DOE build  GBP falls after UK CPI drops back There’s been some pretty large declines for stock indices today, with the bright start to the…

  • Oil sinks on large DOE build

    May 23, 2018

    Summary: DOE inventories +5.8M Far above both the expected -2.5M and prior -1.4M Oil falls sharply in the immediate reaction The weekly DOE inventories always feature prominently on the economic calendar of oil traders, and this afternoon’s release is a good example of the impact it can have on the market.…

  • US500 fills the gap; Where next?

    May 23, 2018

    Summary: US500 falls back to close the gap from last Friday’s close (2712) Price now back near the low of recent range Weakness seen in Asia and Europe spilling over to the US The bright start to the week for US stocks has fizzled out with the US500 hitting its…

  • Carnage on the stock markets, investors await FOMC minutes

    May 23, 2018

    Summary: Rout on the European stock markets Stellar performance of Japanese yen Investors await FOMC minutes scheduled for late afternoon Wednesday was probably the most awaited day of this week by investors due to the vast array of macroeconomic releases scheduled. Preliminary European PMIs that were published in the morning…

  • Bitcoin dips below $8000, Fed’s Kashkari calls crypto industry ’a farce’

    May 23, 2018

    Summary: Bitcoin slides below $8000 for the first time since mid-April, a technical view suggests more pain to come CFTC issues new guidance to all institutions being interested in listing Bitcoin futures and other crypto derivatives Federal Reserve member Neel Kashakri calls the cryptocurrency industry ’a farce’ Tailspin across financial…

  • Economic calendar: Avalanche of top-tier data

    May 23, 2018

    Summary: UK inflation data may offer some support for pound DOE is expected to show a draw giving Brent a chance to once again test $80.50 handle In the evening USD will be in the spotlight as FOMC minutes will be released The Super Wednesday is finally here. In contrary…

  • Automakers rise as China cuts import duties; TRY hits another record low

    May 22, 2018

    Summary: DE30 makes steady gains led by automakers US stocks also boosted after China announce cut to import duties  More losses for TRY as Fitch cautions on outlook Bitcoin lower on Bitcoin pizza day Active bank recommendations The DE30 has returned from a long weekend today in an upbeat mood,…

  • Turkish Lira drops to new record lows

    May 22, 2018

    Summary: USDTRY and EURTRY both rise to new all-time highs Lira extends recent declines as Fitch warns on monetary policy Surge in local Diesel costs reveals impact of currency depreciation The rout on the Turkish Lira has shown little sign of easing up with the currency falling to record lows…

  • Wall Street set for green open with GM and Tesla popping higher

    May 22, 2018

    Summary: US stocks are called to open higher US500 testing 2740 resistance level Automakers expected to rise on China’s tariff relief  US stock markets are expected to kick off the afternoon session on the front foot with futures pointing at a higher open. The US500 has made steady gains so…

  • Calm morning on the markets, GBP tries to recoup some losses

    May 22, 2018

    Summary: Giuseppe Conte is said to be Italian Prime Minister French blue chips lag behind its European peers Bloomberg Galaxy Crypto Index trades in the vicinity of 850 pts handle On the European stock markets we were observing minor gains in the first half of the day. Carmakers benefit from…

  • Argentinian bank offers Bitcoin to make cross-border payments

    May 22, 2018

    Summary: An Argentinian bank decides to let its customers select Bitcoin as a cross-border payment option Some analyses suggest the Bitcoin network could be using as much electricity as the whole of Austria by the end of the year Nobel-winning economist Robert Shiller says Bitcoin could be just another failed…

  • Economic calendar: Oil traders wait for API

    May 22, 2018

    Summary: Canadian wholesale sales data expected to show an increase Will API data help extend rally on the oil market? BoE members to testify on inflation report As this week is almost all about the Super Wednesday not many important readings are scheduled for the other days of the week.…

  • Wall Street gains, soybean surges as trade tensions wear off

    May 22, 2018

    Summary: US stocks make decent gains on Monday as trade tensions have been set aside at least for a while Subsequent differing comments with regard to a truce between the US and China Soybean prices shoot up in the aftermath of the China-US trade announcement alike Asian trading has been…

  • Stocks gain on US-China truce; USD and precious metals pare earlier moves

    May 21, 2018

    Summary: Stocks begin the week brightly after US-China announce trade war truce News sends precious metals lower but Gold and Silver pare losses EURUSD bounces from new 2018 low Pompeo comments have little impact on Oil  Crypto markets fall; Snoop Dogg performs at XRP event The news over the weekend…

  • Oil remains lower despite hawkish Pompeo comments on Iran

    May 21, 2018

    Summary: Oil is trading lower for the 2nd consecutive day Price appears to be running into resistance around $80  Strong Iranian sanctions comments from the US fail to drive price higher The past few weeks have seen a series of notable moves in the Oil price, with the market hitting…

  • Mnuchin “very bullish on US stocks”

    May 21, 2018

    Summary: US stocks gap higher over the weekend Markets react positively to US-China de-escalation More from Mnuchin: "very bullish on US stocks" The news over the weekend that the US and China had called a truce on their trade war has caused a noticeable reaction in the markets with stock…

  • Stocks advance amid absence of German traders, JPY pulls back

    May 21, 2018

    Summary: Agricultural commodities surge Polish equities outperform other European peers BITCOIN retreats from $8500 handle With almost empty calendar Monday’s early trading was rather calm. In Europe equities broadly advance with Polish stocks being top performers in the region. One should keep in mind that trading during European session can…

  • Snoop Dogg performs at XRP Community Night and… fails

    May 21, 2018

    Summary: Snoop Dogg performs at the XRP Community Night, but he fails to... even mention a word regarding the cryptocurrency Russian Ministry of Justice perceives Bitcoin as a property even as some say it’s nothing more than "a set of characters" Chinese govt-backed organization finds more 400 fake cryptocurrencies last…

  • Economic calendar: All eyes on Wednesday

    May 21, 2018

    Summary: Wednesday is packed with the most important macroeconomic events this week including the FOMC minutes A regional survey from Chicago is the sole noteworthy reading for today Several central bankers are scheduled to speak as well (most of them from the Fed) It is not common to have all…

  • Stocks bounce as Mnuchin holds off on escalating trade war

    May 21, 2018

    Summary: The US and China decide to hold off on escalating trade war until a wider agreement is worked out Iran lures the EU to get the most out of the nuke deal after the US withdrawal from the pact NZ dollar languishes as Q1 retail sales disappoint by a…

  • EM currencies suffer bad week; CAD falls lower on soft data

    May 18, 2018

    Summary: Emerging Market currencies set for worst week in 18 months Unexpected drop in Canadian core retail sales sinks CAD Bitcoin on track for notable weekly decline EURNZD recommendation from MS  One of the biggest stories this week has been emerging markets (EM), with several currencies that fall into this…

  • EM FX set for worst week in 18 months

    May 18, 2018

    Summary: Emerging market FX poised for biggest weekly loss since Nov 2016 BRL, TRY and ZAR the worst hit; all 3%+ lower vs USD  USDMXN today breaks to 14-month high One of the biggest stories this week has been emerging markets (EM), with several currencies that fall into this bracket…

  • CAD falls back as core retail sales crater; USDCAD back at 1.29

    May 18, 2018

    Summary: Canadian core retail sales unexpectedly fall in March Inflation metrics remain broadly inline with prior CAD falls lower with USDCAD surging over 100 pips The final economic release of note for the week has caused a significant market reaction in the Canadian dollar, which has dropped sharply lower. The headline…

  • CAD waits for data, Italian FTSE MIB deepens decline

    May 18, 2018

    Summary: Turkish lira remains under pressure losing to both, EUR and USD European stocks try to pare morning weakness CAD waits for an important data pack (1:30 pm BST) Early European trading on Friday was marked by the weakness of the major stock benchmarks from the region. However, as the…

  • CAD edges down as chance of NAFTA deal this year diminishes

    May 18, 2018

    Summary: Canadian dollar falls slightly as a deadline set by Speaker Ryan has just passed China offers the US a trade deficit reduction package worth $200 billion Asian stocks grind subtly higher, grains rise over 1% each as drought threats crops 17 May had been set by Speaker Paul Ryan…

  • UK stocks hit record highs; Oil moves above $80

    May 17, 2018

    Summary: UK100 and US2000 post new record highs Oil moves to 3 1/2 peak above $80 a barrel 5 reasons why the EURUSD is at 2018 lows What needs to happen for Bitcoin to surge again? It’s been a good day for the bulls with the UK100 and US2000 both…

  • US small cap stocks hit record highs; Wells Fargo falls 

    May 17, 2018

    Summary: US2000 hits new all-time high Market looks to break higher after triangle consolidation Well Fargo falls after more customer service issues Small-cap stocks in the US have made a strong push higher today with the US2000 rising to its highest ever level above 1625. Similar to the more widely…

  • Oil hits $80 a barrel;  USDCAD at pivotal level

    May 17, 2018

    Summary: Oil extends gains to hit $80 a barrel  USDCAD at pivotal level  Mixed US data with initial jobless rising but Philly fed beats There’s been more upside seen in the price of crude today with Oil finally hitting the psychological level of $80 a barrel. The market has extended the…

  • Stocks rise along with oil, Scandinavian currencies under pressure

    May 17, 2018

    Summary: Gains seen on the European stock markets Bloomberg Galaxy Crypto Index advances 1.2% No major macroeconomic releases scheduled for today In Europe most of the major stock benchmarks are posting gains thanks to the relatively weaker euro. However, S&P 500 futures point for a lower US opening. Taking a…

  • 5 reasons why EURUSD it at the lowest point this year

    May 17, 2018

    Summary: EURUSD dips below 1.18, the lowest this year Diverging monetary policy and inflation among prime reasons for the decline Italy added a burden on the euro Technical analysis sees a strong short term downtrend, the key support at 1.1550 The EURUSD saw the 2018 low of 1.1770 on Wednesday.…

  • What needs to happen to see Bitcoin surging again?

    May 17, 2018

    Summary: Danny Masters, CoinShares chairman, shows his view what needs to happen to see Bitcoin surging back toward the December’s levels South Korea is likely to relax its strict regulations regarding cryptocurrencies Chilean central bank mulls over digital currency regulations to better monitor risks associated with them When Bitcoin was…

  • Customs union hopes boost GBP, AUD benefits from jobs report

    May 17, 2018

    Summary: The UK is expected to tell the EU it is prepared to stay in customs union beyond 2021 Australian jobs release unveils constantly robust long-term trends NZ Jacinda Arden’s government shows its first budget, NZD benefits US yield continue marching higher, but a rise of the US dollar has…

  • Oil rises after DOE; EURUSD falls to 5-month low

    May 16, 2018

    Summary: Oil rises after DOE inventories show -1.4M  EURUSD hits 5-month low on Italian political concerns  Precious metals extend their decline Where next for AUDNZD after RBNZ meeting CRBT attempts to calm TRY sell-off The latest crude inventory data from the US has shown a second consecutive drop and boosted…

  • Oil rises after DOE draw but is a reversal overdue?

    May 16, 2018

    Summary: DOE crude oil inventories: -1.1M vs API: +4.8M US production rises once more: +15.2% Y/Y Oil moves back above $78 but signs uptrend may be exhausted  The latest crude inventory data from the US has shown a second consecutive drop and boosted the price of Oil to its highest…

  • Italian concerns sees ITA40 slump; EURUSD at 5-month low

    May 16, 2018

    Summary: Italian populist parties close to forming a government Leaked draft shows plans to defy EU rules on migration and debt Controversial debt plans weigh on Italian stocks and the Euro  News that the political gridlock in Italy is set to come to an end has been met with a negative…

  • Precious metals continue to decline; Housing data has little impact

    May 16, 2018

    Summary: More weakness seen in precious metals Gold and Platinum makes new 2018 lows; Silver not far behind US housing starts miss; building permits inline There’s been more downside seen in the precious metals today, with Gold falling to its lowest level of the year. Yesterday we pointed out that…

  • Antipodean currencies surge, stocks under pressure

    May 16, 2018

    Summary: TRY experiences wild price swings today AUD tries to pare yesterday’s weakness Oil traders await weekly DOE report on inventories Global stock markets seem to be weighted down by uncertainty after North Korea announced that it will not give up its nuclear programme so easily. Majority of the European…

  • Bitcoin falls back as another big brand bans crypto ads

    May 16, 2018

    Summary: Bing announces to ban all cryptocurrency-related advertisements as it finds them disruptive to its clients Fed’s Lael Brainard delivers her thoughts with regard to digital currencies FedEx keeps actively testing blockchain as it doesn’t want to be left behind Until today there were really big names which decided to…

  • Economic calendar: DOE weekly report in the spotlight

    May 16, 2018

    Summary: European inflation expected to downtick US housing market data to deteriorate further Crude inventories by DOE should decline along with the distillates and gasoline stocks In Tuesday’s macroeconomic calendar we have some interesting readings planned to be released. Among them investors will find final CPI reading from EMU that…

  • Japanese economy shrinks for first time in two years

    May 16, 2018

    Summary: Japanese economy loses steam at the beginning of this year snapping its 8-quarter long winning streak Australian wage growth remains subdued during the first three months in 2018 Asian stocks quite calm despite widespread falls on Wall Street, US yields keep rallying In the morning we do not see…

  • EM currencies suffer heavy losses

    May 15, 2018

    Summary: Large declines seen in emerging market currencies ZAR, TRY and BRL all dropping strongly against USD MXN whipsaws on NAFTA talks We earlier noted the strength seen in the US dollar following the latest retail sales figures, and nowhere can these moves be felt more keenly than in emerging…

  • US stocks drop lower as Oil falls back from highs

    May 15, 2018

    Summary: US500 falls to weekly low after Wall Street open Rising USD weighing on US indices Oil drops sharply after Iranian comments The US session for stocks has begun in negative territory with the uS500 falling to its lowest level of the week in the past hour. The benchmark began…

  • Retail sales miss but revisions see USD gain; Gold breaks key 1300 level

    May 15, 2018

    Summary: US retail sales M/M 0.3% vs 0.4% exp  Prior reading revised higher to 0.8% (from 0.6%) USD continues to rise; Gold falls below key support at 1300 What initially seemed like a soft data point from the US has in fact boosted the US dollar with some notable revisions…

  • USD advances ahead of retail sales, European stocks mixed

    May 15, 2018

    Summary: Stronger USD weighs on precious metals market Mixed session for the European equities Investors await retail sales data from the US As the top tier European macro readings scheduled for today have been already published investors’ attention turns now to the US data. In Europe stocks are trading mixed…

  • Bitcoin bounces back as Bullard shares his view on crypto

    May 15, 2018

    Summary: Federal Reserve James Bullard speaks to CNBC regarding cryptocurrencies during the conference in New York CME paves the way for regulated Ethereum futures Dubai-based crypto exchange halts fiat money withdrawals citing issues with a bank servicing the exchange Digital currencies got a boost over the past hours or, and…

  • Economic calendar: Will wages save the pound?

    May 15, 2018

    Summary: Will UK wage growth continue its current uptrend? Eurozone expected to maintain pace of growth Investors will examine retail sales report looking for signs of weakening demand Tuesday’s calendar is flooded with top tier macroeconomic readings from world’s major economies. During the European session a report from the UK…

  • Dovish RBA remarks don’t dent AUD too much

    May 15, 2018

    Summary: RBA minutes along with deputy governor comments don’t make the AUD much weaker A package of China macroeconomic data shows a miss in fixed asset investments and retail sales The yield on US 10Y Treasury gets back above 3% buttressing the buck in the morning Moves across the currency…

  • US stocks edge higher but Europe takes a pause 

    May 14, 2018

    Summary: US indices move higher at the start of the week European markets trade lower as carmakers weigh on DE30 UK100 near all-time high Gold price little changed as USD pulls back  Crypto mixed as Zimbabwe central bank declares ban  US indices have added to their recent gains during today’s European…

  • UK stocks near all-time high

    May 14, 2018

    Summary: UK100 within 100 points of record peak Index has rallied over 12% in 7 weeks Oil majors some of the biggest risers The rally in the FTSE over the past 7 weeks has been pretty incredible with the benchmark enjoying a strong, clean move higher to trade within striking…

  • US stocks to start the new week higher

    May 14, 2018

    Summary: US500, US100 and US30 all in positive territory US500 moved above last week’s peak to make high of 2740 Contrast to Europe where most markets are low As attention turns to the US session it is worth noting that we appear to be set for a bright start to…

  • Zimbabwean central bank bans all crypto activity

    May 14, 2018

    Summary: The Reserve Bank of Zimbabwe bans all activities related to cryptocurrencies Cryptocurrency conferences still catch people’s eye despite a price slump we have seen this year Individuals find new ways to bypass the crypto bank in Pakistan The past week proved to be a weak one for cryptocurrency traders…

  • Italian government getting closer, US threatens EU with sanctions

    May 14, 2018

    Summary: The two largest Italian parties have reportedly reached a deal to end a political deadlock US threatens to impose sanctions on European companies doing business with Iran Canadian PM Tredeau remains optimistic a NAFTA deal can be struck soon There was no single story influencing financial markets over the…

  • Stocks look to end good week on their highs; CAD drifts lower after jobs data

    May 11, 2018

    Summary: US500 near its highs after strong weekly gains Canadian jobs miss weighs on CAD Cryptocurrencies fall lower May WASDE release impacts grains The final economic release of note for the week has shown a slight pick for the US consumer with the Uni Mich figure beating forecasts. The University…

  • Uni Mich comes in inline; US500 looking to end good week on the front foot

    May 11, 2018

    Summary: UoM Consumer Sentiment: 98.8 vs 98.4 exp Prior reading revised higher to 98.8 (97.8 previously) US500 touches highest level of the week at 2730 The final economic release of note for the week has shown a slight pick for the US consumer with the Uni Mich figure beating forecasts.…

  • Canadian jobs figures better than headline suggests; CAD drifts lower

    May 11, 2018

    Summary: Canadian employment change: -1.1k vs 17.8k exp Full time roles and wages both beat forecasts however USDCAD rises in the initial reaction but could be set for a downtrend On the face of it the latest employment figures from Canada are something of a disappointment, but upon closer inspection…

  • Cryptocurrencies sink, CAD traders await jobs report

    May 11, 2018

    Summary: Major European stock benchmarks post moderate declines Cryptocurrency market bleeds USDCAD declines ahead of the Canadian jobs report The early trading on Friday was marked by the underperformance of the stock indices from Western Europe. Swedish krone is the top performer from the G10 basket while USD erases some…

  • Bitcoin price dives as cryptocurrency market is bleeding

    May 11, 2018

    Summary: Huawei introduces crypto wallet app on their mobile devices Nasdaq CEO Adena Friedman once again expressed her positive attitude towards cryptocurrency market Bitcoin (BITCOIN on xStation5) test the support level at $8700 In the past 24 hours the capitalization of the cryptocurrency market dropped significantly from $437.7 billions to…

  • Economic calendar: Make it or break it – CAD ahead of jobs report

    May 11, 2018

    Summary: Canadian employment report is undoubtedly the most important point in today’s tally Preliminary University of Michigan index should confirm solid consumers’ confidence Baker Hughes ought to report another increase in oil rigs in the US The final day this week is going to bring a few points of note.…

  • US500 set for major breakout as week comes to an end

    May 11, 2018

    Summary: US dollar steadies, 10Y Treasury yield gets back below 3%, oil moves nowhere Manufacturing PMI brings slight relief to the NZ dollar, Orr’s remarks set aside this time SP500 (US500 on xStation5) could be ready for a major technical breakout It’s been a quiet session across major currencies with…

  • No real surprises from Carney; GBP remains lower

    May 10, 2018

    Summary: Carney says UK outlook hasn’t changed Governor strikes similar tone to statement GBP remains lower on the day We earlier noted that the pound had dipped lower following the latest BoE rate decision which saw rates kept on hold as expected. Attention then turned to the press conference from…

  • GBP rises ahead of BoE decision, DAX shines in Europe

    May 10, 2018

    Summary: DAX outpaces other major stock indices from Europe Commodities broadly advance GBP traders await BoE decision The early trading on Thursday brought moderate declines on the European stock markets. However, the German DAX remains resilient to this broad downbeat moods and is advancing almost 0.5%. The New Zealand currency…

  • Mainstream coins much less desirable last month

    May 10, 2018

    Summary: The best known cryptocurrencies gained much less compared to their little known peers Bitcoin keeps trading within fairly a narrow range, more livelier moves unexpected right now Litecoin seems to be well positioned to see a bigger bounce in the near-term Speaking about cryptocurrencies almost everybody means those the…

  • Economic calendar: A big day for GBPUSD

    May 10, 2018

    Summary: The UK industrial and manufacturing production figures are expected to continue rebound Mark Carney may shake the markets during the post-meeting presser The US CPI inflation has a potential for a positive surprise Markets are still steered by the politics but today’s calendar may draw investors’ attention too. Especially…

  • NZD plummets as RBNZ new governor mentions rate cut

    May 10, 2018

    Summary: RBNZ leaves rates on hold, but equips traders with dovish phrases pointing to a rate cut moving forward NZD tumbles and seems to be en route to its very important demand area Chinese consumer price index slows down, inflation among producers gathers pace Oil prices move further up following…

  • US PPI misses forecasts; USD pulling back

    May 9, 2018

    Summary: US April PPI Y/Y: +2.6% vs 2.8% exp Core reading Y/Y drops to 2.3%  USD pulling back after strong recent gains Inflationary pressures in the US have cooled according to the latest data with the PPI for April falling more than forecast. In Y/Y terms the gauge fell to…

  • Technical overview: OIL.WTI

    May 9, 2018

    Summary: The US withdrawal from the Iran deal encourages traders to buy oil WTI oil prices break a pivotal long-term resistance An increase toward $85 would be possible, what to watch out in the meantime? Both WTI and Brent prices have been struggling with crucial resistances lately, but they have…

  • TRY rallies ahead of economic meeting, US 10Y back above 3%

    May 9, 2018

    Summary: Crude oil sticks to its post-Trump announcement gains Turkish lira rallies in anticipation of an economic meeting held by Erdogan US 10Y yield comes back above 3%, US dollar brushes off this move giving back its previous gains It’s been a busy morning today regardless of a class of…

  • Economic calendar: Oil remains in the limelight

    May 9, 2018

    Summary: PPI inflation print to give investors a hint ahead of tomorrow’s CPI release Oil inventories by DOE expected to increase moderately RBNZ to make its interest rate decision in the late evening Investors’ attention is still focused on the oil market as they await response from the other participants…

  • USD continues to rise; attention turns to Trump announcement

    May 8, 2018

    Summary: USD makes further gains as JOLTS beats forecasts SEK gains on Riksbank minutes US stocks a little lower after recent gains Crypto markets fall lower Trump set to make Iranian announcement this evening The US dollar has extended its recent gains today with the buck rising against all of…

  • More USD gains as JOLTS rises further; Can Gold break $1300?

    May 8, 2018

    Summary: USD rising against all currencies barring SEK March JOLTS figure hits 6.55M Gold dropping back towards $1300 level. Can it make a break lower? The US dollar has extended its recent gains today with the buck rising against all of its peers apart from the SEK (which has received…

  • US stocks called to open lower; Apple near record highs

    May 8, 2018

    Summary: Weakness in Europe weighs on the US500 US500 pulls back after strong recent gains Apple close to all-time highs; Can it reach the $1T mark? As attention turns to the US session, it’s looking like a red open for Wall Street with the US500 trading a little lower at…

  • Declines in Europe, markets await Trump’s decision

    May 8, 2018

    Summary: Swedish krone surges following release of Riksbank’s minutes Markets await Trump’s decision on the Nuclear Deal S&P 500 futures point for a lower US opening Tuesday is all about oil as US President Donald Trump tweeted yesterday that he will announce his decision on the Iranian Deal in the…

  • Bill Gates would short Bitcoin if he could

    May 8, 2018

    Summary: Microsoft co-founder Bill Gates says he would short Bitcoin if there would be an easy way to do so Former Federal Reserve governor backs an idea of a so-called "FedCoin" BMW intends to track mileage in leased vehicles through its blockchain platform We wrote about Warren Buffett’s harsh comments…

  • Economic calendar: All about oil

    May 8, 2018

    Summary: Jerome Powell to speak at SNB/IMF event in the morning Donald Trump to announce his decision on the Iranian Deal API oil stocks reading expected to show a decrease Taking a look at the Tuesday’s macroeconomic calendar one could say that it is going to be a rather calm…

  • Oil gives back gains as Iran nuclear deal decision looms

    May 8, 2018

    Summary: US President Donald Trump is expected to announce his decision regarding the Iran nuclear accord this afternoon Australian retail sales miss forecasts weighing on the domestic currency China informs it had nearly $7 billion more in a trade surplus with the US US President Donald Trump tweeted yesterday it…

  • US equities post decent gains, Brent above the $76 handle

    May 7, 2018

    Summary: GBP advances significantly amid absence of the UK traders Benchmark from Wall Street opened higher and surged afterwards Chinese trade balance data to be released overnight The time is running out for the NAFTA negotiators if they want to strike a deal before the political calendar disturbs talks. This…

  • Markets focused on Iranian deal, Bitcoin retreats

    May 7, 2018

    Summary: Oil holds firm above the $70 handle (WTI) and $75 handle (Brent) European investors launch new week in good moods Bitcoin tests support level at $9300 European trading on Monday has been calm so far and a little subdued thanks to the lack of UK traders (banking holiday). One…

  • Bitcoin trades lower as Warren Buffett names it “rat poison”

    May 7, 2018

    Summary: Warren Buffett names Bitcoin "rat poison" during the annual Berkshire Hathaway shareholder meeting Nick Colas, DataTrek Research co-founder, advises holding off on buying Bitcoin citing a few reasons Israel-based cryptocurrency mining company sues the domestic bank for closing its account Warren Buffett’s remarks drew attention over the weekend as…

  • Economic calendar: What’s next for oil?

    May 7, 2018

    Summary: Nuclear Deal with Iran to be the main theme on the markets this week Bank of England may be set to disappoint markets with its next decision Many central bankers are expected to deliver speeches today Oil prices saw another multi-year high at the beginning of May amid a…

  • Oil keeps moving higher, AUD lower post weak PMI

    May 7, 2018

    Summary: Brent oil prices hit their new 4-year high in anticipation of a Trump’s announcement Stocks in Asia climb higher after the successful end of last week’s trading on Wall Street Australian dollar moves lower following disappointing construction PMI Oil prices have been in the spotlight for some time mostly…

  • Markets await NFP, European equities rebound

    May 4, 2018

    Summary: European equities try to recoup some of yesterday’s losses USD advances as investors await April’s NFP report RIPPLE tests $0.90 handle The USD concludes its big week in a good fashion with US Dollar index climbing over 1% since Monday. However, this is not the end of a story…

  • Economic calendar: USD advances ahead of the NFP report

    May 4, 2018

    Summary: The NFP report to be the key event of the day Canadian Ivey PMI expected to inch higher in April EURUSD may be subject to increased volatility today as a vast array of central bankers is expected to deliver speeches today The USD big week is almost over with…

  • US stocks back under pressure; Soft data from Eurozone and UK

    May 3, 2018

    Summary: US500 retests 200 day SMA; Tesla plunges  UK services PMI recovers but less than expected Eurozone CPI slows further ISM non-manufacturing PMI misses forecasts; Gold attempts to bounce A sell-off that began shortly after last night’s Fed decision has gathered momentum today with the US500 falling back to test…

  • US stocks to open lower; Tesla plunges after earnings call debacle 

    May 3, 2018

    Summary: US indices in the red ahead of cash open US500 at lowest level in over a week Tesla expected to open sharply lower after earnings update There’s been some further weakness seen in US indices today after a rally shortly after the Fed decision last night failed and the…

  • Eurozone CPI pulls back; DE30 remains in breakout territory

    May 3, 2018

    Summary: Eurozone CPI flash estimate Y/Y: 1.2% vs 1.3% exp Prior reading revised down to 1.3% Y/Y from 1.4% previously  European bourses consolidate after break higher Inflation in the Eurozone continues to show little sign of returning to target anytime soon with the latest figures revealing another drop. The CPI…

  • UK services PMI recovers but less than expected 

    May 3, 2018

    Summary: UK services PMI 52.8 vs 53.5 exp and 51.7 prior 2nd lowest reading in 18 months GBP remains near recent lows  The third UK data point in consecutive days has shown an improvement in the reading for the  services sector, although the increase was smaller than analysts had forecast.…

  • US dollar gives up gains following FOMC decision

    May 2, 2018

    The US dollar gave back its prior gains as the Federal Reserve statement did not mention a quicker pace of rate hikes market participants had looked for. On top of that there was a notable phrase concerning a symmetric inflation goal suggesting the Fed does not feel to be in…

  • Large DOE build as Oil runs into resistance 

    May 2, 2018

    Summary: DOE oil inventories: +6.2M vs +1.0M exp and +2.2M prior Largest build since January but components mixed Oil little changed after the release  A larger than expected build in the weekly DOE inventory release has put some pressure on the oil price with Brent falling down to its lowest level…

  • Strong ADP sets the scene for NFP rebound

    May 2, 2018

    Summary: ADP employment change: 204k vs 200k exp and 241k prior USD pulling back after recent gains FOMC this evening at 7PM (BST) The US labour market continues to go from strength to strength according to the latest data just released, with the ADP showing a 5th consecutive 200k+ reading.…

  • USD on the back foot ahead of FOMC, DAX surges

    May 2, 2018

    Summary: German equities post stellar gains Litecoin eyes $150 handle Investors await FOMC meeting European investors seem to return from the Holiday in good moods as major stock benchmarks from the Old Continent post decent gains on Wednesday. Apart from that, GDP reading for the euro zone was released today…

  • France slashes cryptocurrency income tax

    May 2, 2018

    Summary: France announces a meaningful cut on gains from cryptocurrency trading Despite the Iranian central bank’s prohibition the country keeps developing its state digital currency CFTC Chairman points out key assets Bitcoin owns in part A majority of main cryptocurrencies lost some ground during their first trading day in May, but underlying…

  • Economic calendar: Is Fed able to buttress USD yet more?

    May 2, 2018

    Summary: USD bulls await the FOMC statement looking for some hawkish remarks with regard to the rate outlook UK construction PMI is forecast to bounce back noticeably in April  Analysts expect another small build in US oil inventories  It’s going to be a big day for US dollar traders, but not just…

  • NZ employment report meets forecasts, Apple beats estimates

    May 2, 2018

    Summary: Wall Street ends yesterday’s trading largely higher with the NASDAQ (US100 on xStation5) leading the gains NZ employment report meets expectations, but the details seem to be equivocal  Chinese Caixin manufacturing PMI comes in subtly above the median estimate  Major US indices gained traction on Tuesday amid quite tepid…

  • ISM Manufacturing falls more than expected; Gold looks to break lower

    May 1, 2018

    Summary: ISM Manufacturing PMI 57.3 vs 58.4 and 59.3 prior Index falls to lowest level since July 2017 Gold falls below 1306 and threatens to break lower The latest manufacturing data from the US has followed the lead of the UK in falling further than expected in what is a…

  • Sell in May and go away?

    May 1, 2018

    Summary: US stock performance in May midterm years not that negative The month has been volatile though, presenting good opportunities Apple earnings after the bell The old trading adage "sell-in-May-and-go-away" is well known and widely quoted, but how much truth is in it? As the month begins it is worth…

  • Canadian growth beats forecasts; EURCAD at 11-week low

    May 1, 2018

    Summary: Canadian GDP beats forecasts M/M reading +0.4% vs +0.3% exp; prior -0.1%  EURCAD falls to lowest level since February  According to the latest figures the Canadian economy bounced back from a disappointing drop in economic growth last month, with a higher than forecast increase in February. The GDP M/M…

  • EURUSD threatens to fall sub 1.20

    May 1, 2018

    Summary: EURUSD falls to lowest level in almost 4 months Price threatening to fall back below 1.20 European bank holidays today There’s been further weakness seen in the EURUSD today with the most widely traded FX pair sliding to its lowest level since mid-January. Last week’s ECB meeting failed to…

  • USD starts the new week on the front foot with inflation data in focus

    April 30, 2018

    Summary: USD rises as PCE Y/Y remains at 1.9% German inflation also unchanged; EUR under pressure Crypto lower as Venezuela announces end of Petro pre-sale DE30 close to key 12650 level; US stocks little changed The US dollar enjoyed a good week last time out and it is wasting no…

  • US inflation near target; GBPUSD meets rising trendline

    April 30, 2018

    Summary: March US PCE core Y/Y: +1.9% vs +1.9% exp US dollar trading firmly higher on the day GBPUSD testing long-term rising trendline Inflation is in focus this afternoon with the latest data from the US coming not long after the German release. Similar to its European equivalent there appears…

  • USD advances ahead of PCE, minor gains in Europe

    April 30, 2018

    Summary: Bitcoin struggles ahead of the resistance level at $9300 European stocks post moderate gains at the beginning of new week Investors await PCE inflation data from the United States The beginning of the European session was calm just as it was the case for the Asian trading. US dollar…

  • Venezuela’s Maduro announces the end of Petro pre-sale

    April 30, 2018

    Summary: Venezuelan President Nicolas Maduro declares the country raised over $3 billion via the Petro pre-sale Leading Indian cryptocurrency exchange launches 23 crypto-to-crypto trading Solar farm to power virtual currency mining in Western Australia We have already written several times about the Venezuelan unconventional way to bypass sanctions imposed by…

  • Economic calendar: USD begins big week with PCE data

    April 30, 2018

    Summary: German and Italian inflation figures could provide more clarity with regard to the price outlook for the ECB US dollar traders await their first data (PCE) this week, there is an avalanche of prints further out Federal Reserve meeting is placed on top of the most important events for…

  • Asian stocks gain as Chinese PMIs beat expectations

    April 30, 2018

    Summary: Major currencies remain little changed at the end of the Asian session  Asian stocks trade mostly higher led by Hang Seng following positive developments from the Korean Peninsula Chinese manufacturing and non-manufacturing PMI beat forecast offering a slight support for equities  The beginning of this week trading has been quite…

  • Differing growth stories on either side of the Atlantic as UK falters and US beats

    April 27, 2018

    Summary: US GDP comes in better than expected UK growth falls sharply; GBPUSD hits 7-week low Uni Mich beats forecasts as stocks look to end the week higher Binance earns more than the biggest German lender Active bank recommendations The world’s largest economy continues to experience a pleasing level of…

  • Uni Mich beats; US stocks probing weekly highs

    April 27, 2018

    Summary: Uni Mich: 98.8 vs 98.0 exp and 97.8 prior Inflation expectations inline with previous at 2.7% US500 near the weekly highs The final economic data of note for the week has shown more good news for the US, with the revised University of Michigan consumer sentiment index beating expectations…

  • US GDP beats forecasts; USD set for large weekly gains

    April 27, 2018

    Summary: US advance GDP Q/Q: 2.3% vs 2.0% exp Prior reading revised higher to 2.9% (from 2.6%) USD set for large weekly gains   The world’s largest economy continues to experience a pleasing level of growth according to the latest data, with US GDP for the first quarter coming in at…

  • Pound under pressure, USD gains ahead of the GDP

    April 27, 2018

    Summary: GBP sinks after poor GDP report Equities in Europe advance after an upbeat Asian session DASH touches $500 mark but falls afterwards Friday brought a rebound in both Asian and European equities after Wall Street benchmarks surged yesterday. In the afternoon investors will be offered GDP report from the…

  • Binance earns more than biggest German lender

    April 27, 2018

    Summary: The first quarter reveals that Binance has been more profitable than the biggest German lender Deutsche Bank NASDAQ CEO does not exclude the exchange could become a cryptocurrency platform in a regulated market Bitcoin bounces back from a pivotal support area, Dash moves from its local lows as well…

  • Economic calendar: Key reports  for the GBPUSD

    April 27, 2018

    Summary: UK GDP reading to be released in the morning US GDP report may give greenback chance to extend recent rally Some top central bankers from Europe to deliver speeches today In Friday’s calendar we have two reports that looks especially interesting. The first one is the UK quarterly GDP…

  • BoJ strikes yet more dovish tone, Tokyo inflation loses steam

    April 27, 2018

    Summary: Bank of Japan leaves the monetary policy settings unchanged and scraps the time frame for hitting inflation aim Japanese data looks mixed while Tokyo inflation slows down substantially USDJPY could continue grinding higher in the short-run, where to target? The Bank of Japan left its short-term interest rate at…

  • EURUSD drops to 3-month low after ECB; SEK falls on Riksbank

    April 26, 2018

    Summary: EURUSD drops to 1.21 in volatile trade after the ECB keep rates unchanged SEK extends losses as Riksbank delays tightening US durable goods figures beat forecasts but core reading disappoints Technical overview: Gold  Crypto decline once more The latest ECB event has come and gone without any major fireworks as…

  • Euro little changed after ECB keep rates and statement unchanged

    April 26, 2018

    Summary: ECB keep all rates and asset purchases unchanged  Fairly neutral press conference with Draghi  EURUSD bounces from prior support level but remains little changed on the day The latest ECB event has come and gone without any major fireworks as the bank announced no changes to its policy and…

  • US durable goods beat forecasts but core reading misses; USD falls back

    April 26, 2018

    Summary: US durable good orders m/m rise to 2.6% but core reading falls to 0.0% Initial jobless claims fall to 209k - lowest levels since 1969 USD falling lower on the day The latest batch of data from the US has shown strong durable good orders and employment figures, but…

  • Markets await Draghi, Riksbank pushes SEK lower

    April 26, 2018

    Summary: Majority of the European stock benchmarks gain in the first half of a day SEK sinks as Riksbank stays reluctant to rate hikes under current conditions Investors wait for the ECB decision and Draghi presser Major cryptocurrencies decline Thursday’s morning brought rebound to the European stock markets. Equity indices…

  • Russian ICOs fuelled ponzi schemes last year

    April 26, 2018

    Summary: A half of the fund collected via ICOs in Russia last year went to financial pyramids Georgia enters the top three countries in terms of cryptocurrency mining Ripple runs out of steam to continue climbing higher, a bearish engulfing bodes some downside around the corner Russia is going to…

  • Facebook beats estimates, AUD slightly higher following trade data

    April 26, 2018

    Summary: Facebook (FB.US on xStation5) reports robust earnings despite recent issues Wall Street ends mixed while Asian stocks have been largely lower AUD gains momentum following the first quarter terms of trade data Facebook did not have successful time over the past several weeks as its shares were afflicted by…

  • US stocks and Oil volatile but lacking clear direction; Crypto markets crater

    April 25, 2018

    Summary: US500 retests 200 day SMA after further declines Oil drops to test support following DOE inventory build  Turkish Lira makes a U-turn after CBT decision Crypto markets plunge lower with double-digit declines ECB in focus tomorrow Tuesday’s session saw some pretty large scale selling in indices, but today’s trade…

  • Surprise DOE build sends Oil.WTI lower to test support

    April 25, 2018

    Summary: DOE crude oil inventories 2.2M vs -1.6M exp US oil production increases further (+46K to 10.586m bpd) Oil.WTI drops to test prior support at 67.30  The latest inventory figures from the US for oil have done little to support the price, with an unexpected build seen alongside an increase…

  • US open in focus after Tuesday’s reversal; US500 retests 200 SMA

    April 25, 2018

    Summary: Yesterday saw US indices end sharply lower after beginning in the green FAANG stocks led the losers with heavy losses for big tech  US500 back at 200 day SMA  Yesterday morning saw some steady gains for us stock futures with the US500 rising steadily to trade at its highest…

  • EURUSD, DE30 wait for the ECB

    April 25, 2018

    Summary: the ECB will not change rates on Thursday but markets wait for guidance update from Draghi EURUSD seats at the fence, waiting for a break or bounce of 1.22 DE30 turned south, could use weaker euro   ECB has reasons to be cautious A recent resilience of the euro could be spotted…

  • Stocks take a dive, investors’ attention turned to CBRT

    April 25, 2018

    Summary Cryptocurrencies reversed sharply after recent gains Stocks remain depressed thanks to the rising US yields TRY in the spotlight as CBRT is about to make its decision The Wednesday’s outlook for the stock markets remains blurry after Wall Street suffered a heavy sell-off in response to US yields breaching…

  • Is Bitcoin biggest scam in history?

    April 25, 2018

    Summary: Former CEO of PayPal claims Bitcoin it’s a colossal pump-and-dump scheme Chinese police seizes 600 computers used to mine cryptocurrencies Bitcoin closes its crucial long-term resistance, is it time to see a pullback? Cryptocurrencies have thrived recently and today those trends seem to be continuing even as global stocks…

  • Economic calendar: All eyes on Turkey

    April 25, 2018

    Summary: Turkish central bankers to make their interest rate decision at noon Crude oil inventories expected to drop for the second week in a row Poloz and Wilkins to appear before the Canadian Senate Investors will be offered one key macroeconomic event on Wednesday and that is the interest rate…

  • Higher yields weigh on stocks, USD continues climbing

    April 25, 2018

    Summary: Asian stocks follow their counterparts in the US registering sizeable losses as the US 10Y yield keeps moving around 3% US dollar keeps on pushing higher along with higher rates, Antipodean currencies suffer the most Oil trades sideways after a surprising build in stocks reported by API yesterday Although…

  • Cryptos continue to rise; Gold holds prior support

    April 24, 2018

    Summary: Gold bounces from lower bound of recent range US consumer confidence beats forecasts Cryptocurrencies enjoy strong gains Indices fade after bright start  One of the key driving factors for markets at the moment is US yields with the 10-year (TNOTE on xStation) approaching 3% and the TNOTE falling lower…

  • US consumer confidence beats; USDCAD at interesting level

    April 24, 2018

    Summary: CB Consumer confidence 128.7 vs 126.0 exp and 127.7 New homes sales smash forecasts (694k vs 630k exp) USD pulling back after strong recent gains The standout economic releases of the afternoon have come from the US with both the latest consumer confidence and housing figures beating forecasts. Looking…

  • Gold drops near support as US yields continue to rise

    April 24, 2018

    Summary: Gold moving towards lower bound of 1306-1366 range Price could be set for 4th consecutive daily decline Rise in US yields boosting USD and weighing on Gold The Gold market has experienced pretty large moves in the last couple of days with 2 large declines coming after the market…

  • Currencies trade flat, SP500 set to open higher

    April 24, 2018

    Summary: Major currencies trade flat except for the NZ dollar which continues trading on the back foot European stocks mixed while the SP500 futures are set to open broadly higher Bonds muted while the US 10Y yield keeps flirting with 3% Major currencies are trading on the sideways except the…

  • More financial institutions explore cryptocurrency trading possibilities

    April 24, 2018

    Summary: According to Thomson Reuters about 20 percent of the financial institutions are considering launching cryptocurrency trading operations Goldman Sachs may be actually setting up a cryptocurrency trading desk Indian crypto-enthusiasts take country’s central bank to court over the recent crackdown The biggest cryptocurrencies in terms of market capitalization have…

  • Economic calendar: Revamped IFO in the spotlight today

    April 24, 2018

    Summary: April German IFO will be presented in a new form for the first time US housing market may steer moods around the greenback API is going to reveal its calculations on a weekly oil stocks change Tuesday does not look impressively in terms of macroeconomic releases and therefore one…

  • Asian equities recover, Australian inflation stays muted

    April 24, 2018

    Summary: Chinese stocks rally as the PBoC could further cut RRR in order to ease monetary conditions Australian inflation little changed in the first quarter suggesting no pressure to adjust policy for the time being US dollar keeps its last gains, NZ dollar feels the pain the most Admittedly, US…

  • Wall Street posts modest gains, aluminum under heavy sell-off

    April 23, 2018

    US dollar is finally looking like could shake off its weakness. US Dollar Index is at the highest level in nearly 2 months as rising oil prices push up interest rate expectations. But could it finally make a run? Most of the major coins managed to post gains over the…

  • USD dominates, nickel continues to slide

    April 23, 2018

    Summary: European investors launch new week in mixed moods Bitcoin eyes repeated test of $9000 handle Nickel continues to erase its recent gains Despite crucial developments in the North Korean theme over the weekend European investors remain in the mixed moods at the beginning of the week as major stock…

  • National Bank of Dubai implements Blockchain technology

    April 23, 2018

    Summary: Central Bank of Iran bans domestic banks from conducting crypto operations United Arab Emirates’ biggest bank implements blockchain technology New San Francisco Fed President criticizes digital currencies Most of the major coins managed to post gains over the weekend with Bitcoin climbing to the $9000 handle on Saturday. A…

  • Economic calendar: PMIs begin last week this month

    April 23, 2018

    Summary: Monday is going to bring preliminary PMIs coming from European economies ECB and CBT decisions in the spotlight this week, the latter could draw even more attention Pound failed to gain last week, it will be offered the first GDP reading for Q1 on Friday The first part of…

  • Markets muted as North Korea suspends its missile tests

    April 23, 2018

    Summary: North Korean leader declared over the weekend his country will suspend nuclear and missile tests immediately US is unlikely to make any substantial concessions in the aftermath Japanese yen trades slightly lower along with Asian stock markets The news coming from North Korea stole the show over the weekend…

  • CAD slides on CPI miss; Oil drops on Trump tweet

    April 20, 2018

    Summary: CAD falls back after CPI Y/Y rises less than forecast Oil slides after Trump tweet takes aim at OPEC Ripple makes double-digit surge GBP falls further following Carney speech The main economic data this afternoon came from Canada with the release of the latest inflation and consumer spending figures. The…

  • Oil drops on Trump tweet

    April 20, 2018

    Summary: Oil falls lower after Trump tweet US president called prices "artificially very high" Market could be overdue a pullback after hitting 3 1/2 year high The price of Oil has taken another turn lower today after a tweet from Donald Trump saw the market flooded with selling pressure. The market…

  • CAD falls back after CPI rises less than forecast

    April 20, 2018

    Summary: Canadian CPI Y/Y 2.3% vs 2.4% exp Retail sales comes in inline with forecasts Canadian dollar hands back earlier gains  The main economic data this afternoon comes from Canada with the release of the latest inflation and consumer spending figures. The CPI Y/Y for March rose by less than…

  • Ripple surges, nickel retreats after stellar rally

    April 20, 2018

    Summary: European stock indices experience modest gains Ripple surges adding to recent superb rally CAD traders await CPI and retail sales data Early trading on Friday was calm with European equities posting minor advance. Nickel retreats more than 2.5% erasing a part of the latest gains. Brent trades a notch…

  • UBS completes first tests of its blockchain app Batavia

    April 20, 2018

    Summary: UBS finalizes first test of its new blockchain-based payment platform Ripple (RIPPLE on xStation5) approaches a $0.87 mark The value of ICOs conducted in the first quarter of 2018 surpassed the one of all ICOs in 2017 Majority of the most notable cryptocurrencies experienced a jump in price throughout…

  • Economic calendar: CAD traders take a breath ahead of data

    April 20, 2018

    Summary: Canadian dollar traders will be offered the newest data pertaining to retail sales as well as price growth Weekly oil rigs report by Baker Hughes the sole reading of note for oil traders today Some central bank speakers being worth watching for during the day The Friday’s calendar is…

  • GBP dragged down by Carney, Japanese inflation way off the target

    April 20, 2018

    Summary: British pound took a quick step back following cautious remarks with respect to rate hikes from Mark Carney Japanese inflation comes in well below the BoJ’s aim strengthening the case for keeping monetary conditions loose SNB’s Jordan unimpressed with 1.20 on EURCHF Admittedly, Asian trading did not bring any…

  • Commodities rise; US stocks pullback

    April 19, 2018

    Summary: More gains seen in the commodity space Technical overview for Gold US stocks pullback USDJPY rises towards key level Bitconi whales disrupt price There’s been further gains seen in the commodity space today with Gold hitting a 3-and-a-half-year high and the industrial metals moving above Wednesday’s highs - they…

  • US stocks pull back; 3-day winning streak under threat

    April 19, 2018

    Summary: US500 trading lower on the day near 2700 3 day winning streak under threat Price remains above 2680 swing level  The US500 has pulled back a little today as the recent winning streak for US stocks has come under threat. Whilst the declines are fairly small and measured, the…

  • Commodities rise along with stocks, nickel adds to recent gains

    April 19, 2018

    Summary: Polish blue chips outperform their European peers Nickel and aluminium continue their crazy rally GBP has found himself under pressure over disappointing data In general major European stock benchmarks advance moderately on Thursday with DAX lagging a bit behind both, CAC 40 and FTSE 100. Aluminium and nickel trade…

  • Nickel and Lira – 2 big movers this week

    April 19, 2018

    Summary:  Nickel prices literally explode amid sanction fears Turkey goes for snap elections, lira recovers from a plunge We take a look at situation, analyze crucial levels Markets in April have been completely dominated by politics and it’s no different these days. Even as a trade spat between the US…

  • Bitcoin whales disrupt cryptocurrency price action

    April 19, 2018

    Summary: Large Bitcoin holders aka whales have been blamed for sudden price movements coming out of nowhere Mastermind behind Bitcoin-related theft escaped from a prison and fled to Sweden Indian Bitcoin community prepares a petition to the court against the actions taken by the Reserve Bank of India The past…

  • Economic calendar: Will retail sales boost GBP?

    April 19, 2018

    Summary: GBP traders await retail sales reading for March A semi-important US labour market reading to be released in the afternoon Fed Vice Chairman Quarles to testify before Senate Thursday’s calendar looks empty yet we will be offered two quite important readings. In the morning UK data concerning retail sales…

  • Antipodean currencies in the spotlight after fresh data

    April 19, 2018

    Summary: Australian dollar leads the gains in early trading despite quite a disappointing labour market report New Zealand inflation meets expectations making a huge slowdown at the same time though, forget about rate hikes this year Trump and Abe agree to start trade talks following the meeting in Florida This…

  • DOE draw sends Oil.WTI to 3-year high; GBP drops on CPI miss

    April 18, 2018

    Summary: Oil.WTI has hit a 3-year peak following the DOE release Pound drops as inflation falls again CAD falls back as BOC keep rates on hold US stocks rise, lifted by Morgan Stanley IMF’s Lagarde envisages big shift to cryptocurrencies The main story today is in Oil, with the Oil.WTI…

  • Oil.WTI hits 3-year peak after DOE shows draw

    April 18, 2018

    Summary: DOE inventories -1.1M vs -0.5M exp and 3.3M prior Oil pops higher in the initial reaction Oil.WTI hits 3-year high above $68/barrel A larger than expected drawdown in the weekly DOE inventory report for crude oil has supported the price of both Oil and Oil.WTI, with the latter hitting…

  • BOC keeps rates on hold; CAD falls on statement

    April 18, 2018

    Summary: Bank of Canada keeps rates at 1.25% as expected CAD hit with some selling in the immediate reaction Press conference due at 4:15PM (BST) As was widely expected the Bank of Canada have announced their decision to keep interest rates unchanged at 1.25% following their latest monetary policy meeting.…

  • Morgan Stanley boosts US stocks; Set for green open

    April 18, 2018

    Summary: Morgan Stanley posts record high 1st quarter profit Shares called to open sharply higher US500 moves close to 1-month high It looks like being a bright start to the US session for stock markets, with indices currently trading close to their higher level in a month. The US500 has…

  • Investors await BoC decision, European stocks advance

    April 18, 2018

    Summary: CAD traders await BoC decision European equities benefit from the optimism seen in Asia and US Major cryptocurrencies trade higher European stocks trade higher on Wednesday with the German ones lagging behind its peers. Investors await Bank of Canada decision as well as House of Lords votings on the…

  • GBPUSD falls sharply as CPI misses; Pullback ahead?

    April 18, 2018

    The GBPUSD pair has experienced a swift swoon lower this morning in falling over 100 pips  following an unexpected drop in the UK CPI release. With the market giving an 80% chance of a Bank of England rate next month before today’s data there’s plenty of scope for disappointment. Will…

  • Big shift towards cryptocurrencies envisaged by IMF’s Lagarde

    April 18, 2018

    Summary: International Monetary Fund’s chief Christine Lagarde outlines her view with regard to cryptocurrencies and their future Bitcoin took a brief dive yesterday as a single seller could have contributed  dumping $100 million of the digital currency New York Attorney General decides to launch an inquiry into cryptocurrency exchanges Over…

  • Economic calendar: GBP in the spotlight today

    April 18, 2018

    Summary: UK inflation reading to be released in the morning House of Lords will vote on the Brexit draft in the afternoon Bank of Canada to make its interest rate decision today Bank of Canada’s decision that is scheduled for the afternoon is the major macroeconomic event today. However, investors’…

  • Wall Street advances, JPY lower as Abe-Trump talks loom

    April 18, 2018

    Summary: US indices rallied on Tuesday fuelled by Netflix, UnitedHealth and Amazon Japanese currency declines in anticipation of talks between US President Donald Trump and Japan’s Prime Minister Shinzo Abe USDJPY keeps moving within an upward channel, but a pivotal resistance remains in place US stock indices managed to close…

  • US equities surge, CAD on the rise

    April 17, 2018

    Summary: USD gains after decent housing market data Nasdaq advances more than 1.5% Silver moves significantly higher Major stock benchmarks from Wall Street opened with a significant upside price gap on Tuesday. The gains are additionally fueled by superb companies’ earnings with Goldman Sachs experiencing a 14.65% better-than-expected revenue. The…

  • Scandinavian currencies on the rise, European stocks move higher

    April 17, 2018

    Summary: Antipodean currencies underperform on the back of equivocal Chinese data Major European stock benchmarks advance after yesterday’s upbeat Wall Street session Agricultural commodities advance along with oil Tuesday’s early trading was marked by the gains of European benchmarks. Stocks from the old continent managed to move higher after decent…

  • Economic calendar: Labour market data could drive GBP

    April 17, 2018

    Summary: The UK labour market release could help the GBP continue rising following a breakout of an important resistance US housing data along with industrial production will offer a final clue ahead of the first GDP reading Oil bounces back in the morning as investors await the API weekly release…

  • US stocks gain while USD underperforms, industrial metals advance

    April 16, 2018

    Summary: Gold moved higher to the $1350 mark US equities seem unimpressed by the attack in Syria Aluminum trades at the 7-year high NOK is the weakest currency in the G10 while GBP is the strongest one Bitcoin trades a notch below $8000 mark All three major stock benchmarks from…

  • Stocks lack direction, Bitcoin retreats towards $8000 mark

    April 16, 2018

    Summary: Stock markets play down geopolitical risks Major cryptocurrencies decline today Semi-important data from the US to be released in the afternoon The attack on Syria conducted by the US, UK and France did not meet with any significant response from the global stock markets. Majority of European benchmarks remain…

  • Economic calendar: US retail sales and more to watch this week

    April 16, 2018

    Summary: US retail sales report is going to show a bounce in March following the two lacklustre months in a row A package of the UK data may drive the pound ahead of the BoE rate decision Bank of Canada is set to leave rates unchanged, the CAD could continue…

  • Markets little impressed by air strikes against Syria

    April 16, 2018

    Summary: The US together with the UK and France launched air strikes against targets in Syria Syrian President Assad says air strikes on his country were "an act of aggression" SP500 futures (US500 on xStation5) is set to open higher, but still keeps hovering below their remarkably important resistance The…

  • Oil set for biggest weekly gain in 9 months; Stocks fade despite strong US bank results

    April 13, 2018

    Summary: Oil rises in excess of 7% on the week; set for largest gain since July US banks kick-off earnings season by beating the street but fall lower More Crypto gains as Santander launches Ripple payment app CADCHF recommendation from Morgan Stanley  It’s been a great week for oil bulls…

  • Oil set for bumper weekly gain; Saudi Aramco world’s most profitable firm 

    April 13, 2018

    Summary: Oil has rallied strongly this week on Syrian tensions Brent higher by more than 7% on the week Saudi Aramco reports highest profits in the corporate world It’s been a great week for oil bulls with the price of crude surging higher as geopolitical tensions in the Middle East…

  • Banks beat to kick-off US earnings season; US500 at 3-week high

    April 13, 2018

    Summary: JP Morgan, Wells Fargo and Citigroup all beat earnings estimates The 3 banks kick-off earnings season in earnest US500 moves to 3-week high; threatening to break out to the upside The latest earnings releases from 3 large US banks has seen the earnings season for Wall Street begin in…

  • Trade hopes drive stocks higher, AUD advances along with commodities

    April 13, 2018

    Summary: Stocks advance amid abating Trade Fears Bitcoin holds firm above $8000 mark Earnings marathon in the US begins Friday is exceptionally calm in terms of macroeconomic release thus the geopolitical factors may be a thing that drives the market today. Moreover, earnings season on Wall Street has begun and…

  • Santander launches Ripple payment app

    April 13, 2018

    Summary: Santander is said to launch Ripple payment app today Bitcoin (BITCOIN on xStation5) hovers near $8000 mark after yesterday’s rapid advance Australian tech company reopens coal power plant to ensure source of cheap energy for mining operations The cryptocurrency sphere as a whole experienced an abnormal jump in valuation over…

  • Hopes for trade talks boost stocks, Chinese trade shows deficit

    April 13, 2018

    Summary: Donald Trump took more conciliatory tone on trade Chinese trade balance data disappointed showing first monthly deficit in over a year Australian dollar got boosted by rising Chinese imports Equities in the US rose after President Donald Trump delivered some remarks suggesting easing tensions between US and China as…

  • Economic calendar: oil in focus amid geopolitics

    April 13, 2018

    Summary: Geopolitics continue dominate market landscape as US&allies weigh military options for Syria Markets in decent moods as Trade Wars concerns abate US UoM the main release on Friday The macro calendar will not be the thing that investors are really crazy about this Friday as the releases are second…

  • Stocks rise led by US and Italy, Crypto markets surge higher

    April 12, 2018

    Summary: US stocks have rallied today after Trump stepped back on Syria talk ITA40 also benefiting from potential political breakthrough Technical overview of Gold Cryptos surge higher with double-digit gains seen  SEK falls over 1% following disappointing inflation It’s been a good day for stock market bulls with strong gains seen across…

  • Italian stocks rally on hopes of political breakthrough

    April 12, 2018

    Summary: Global stocks trading firmly higher  Italian market reacts positively after hopeful comments on coalition talks ITA40 close to 1-month high It’s been a good day so far for stock market bulls so far, with indices around the globe rallying as geopolitical tensions ease a little. One of the best performers…

  • US Stocks higher on Wall Street open; Blackrock reports pleasing results

    April 12, 2018

    Summary: US indices trading higher ahead of cash open Possible de-escalation in Syria boosts stocks Blackrock moves higher in pre-market on solid earnings US stock indices are in a fairly upbeat mood today, with gains seen in all three major benchmarks (US500, US100 and US30). The following tweet from US…

  • Euro trades subtly lower after ECB minutes, stocks advance

    April 12, 2018

    Summary: Bitcoin surges above$7800 mark Euro remains virtually unimpressed by the ECB minutes SEK sinks after inflation miss According to ECB minutes from March meeting European central bankers rejected the view that the inflation goal is near in the medium term. Arguments were raised that the greater amount of slack may…

  • Oil surges to 3-year high on Syria tensions; Where next?

    April 12, 2018

    Oil prices have rallied to their highest levels since December 2014 following a marked increase in geopolitical tensions in the Middle East, which threatens to disrupt crude production in what is a key area. With reports that Saudi Arabia are targeting $80/barrel for Brent Oil (Wednesday’s high was just above…

  • 6 reasons why Syria could affect markets

    April 12, 2018

    Summary: markets nervous again as geopolitics adds to Trade Wars risks OIL surges to highest since 2014, breaks resistances Turkish lira crashes, US500 hovers above the key support There’s no way to calm the markets these days. Just as the Trade Wars fear have started to abate slightly, new geopolitical…

  • Economic calendar: Will ECB minutes boost euro?

    April 12, 2018

    Summary: ECB minutes to be the main event of the day Semi-important data from US labour market to be released in the early afternoon OPEC will publish its monthly report today Thursday is relatively calm in terms of macroeconomic readings. However, we will get one important release and that is…

  • US dollar grinds subtly higher on hawkish Fed minutes

    April 12, 2018

    Summary: Federal Reserve minutes sent the greenback slightly higher as a few members opted for a quicker pace of rate hikes Geopolitical risks weigh on Asian stock markets even as Trump has refrained from striking Syria so far Some harsh words flowing from the Chinese Ministry of Commerce on a…

  • Oil and Gold surge on Syria tensions; Stocks holding up fairly well

    April 11, 2018

    Summary: Oil spikes to 3-year high despite DOE build Syrian tensions outweigh inventory data; Gold strongly higher too Stocks holding up fairly well considering; earnings in focus Sterling rising despite industrial data Is Bitcoin bubble already popping? The main theme for markets today has been the increase in tensions between…

  • DOE build but Oil rips higher on Syria tensions

    April 11, 2018

    Summary: DOE crude oil inventories: +3.3M vs -4.6M prior Increase similar to last night’s API reading of 1.8M Brent Oil hits 3-year high on Syrian tensions The latest inventory data from the US has shown a fairly sizable build after last week’s large drop, but the Oil price seems to have…

  • US CPI hits 1 year high but Gold spikes higher on Syria

    April 11, 2018

    Summary: March CPI hits 1 year high at 2.4% Y/Y (2.4% expected) but M/M -0.1% Core Y/Y reading also gains (2.1% vs 1.8% prior) Gold spikes above 1350 to 2-week high Despite the year-on-year reading for US CPI rising to its highest level in a year, the US dollar has failed…

  • Stocks on the back foot, investors await US inflation

    April 11, 2018

    Summary: UK industrial data disappoints sending GBP subtly lower Bank of America suggests that the crypto bubble may already be bursting Investors wait for the US inflation print and FOMC minutes release Newest developments in Syria theme weigh down on the European stock markets with just a few proving to…

  • Is Bitcoin bubble already popping?

    April 11, 2018

    Summary: Bank of America argues we are experiencing a Bitcoin bubble burst Polish cryptocurrency traders launch a petition to protest against the latest government’s decision regarding digital currencies taxation Ethereum could gain traction as Golem goes live on the ethereum blockchain, what is it and how does it work? Most…

  • Stocks steady, Chinese inflation loses momentum

    April 11, 2018

    Summary: Asian equities have had a mixed session so far with Chinese indices climbing, and others falling Chinese inflation lost momentum last month possibly due to the Lunar New Year, PBoC Governor weighs in on a US-China trade spat Japanese data beat expectations, and should be the yen supportive  Tuesday…

  • Stocks rally on Xi remarks; Oil surges higher

    April 10, 2018

    Summary: Stock markets have rallied today after Xi de-escalated trade tensions Oil surges higher as reports say Saudi aiming for $80/barrel US inflation rises more than forecast but Gold edging higher Turkish Lira slumps to new record lows Cryptocurrencies make steady gains It’s been a good day for stocks, with…

  • Turkish Lira slumps to new record lows

    April 10, 2018

    Summary: Turkish Lira falls to record lows against USD and Euro USDTRY above 4.10; EURTRY near 5.10 Erdogan stands by unorthodox monetary policy The Turkish Lira has suffered in recent years and despite appearing relatively cheap for some time now it has continued to decline, with further losses of more…

  • US inflation rises further; Gold moving higher on Syrian tensions

    April 10, 2018

    Summary: US PPI M/M rise to 0.3% from 0.2% prior (0.1% expected) Core reading M/M also increases to 0.3% Gold moving higher despite risk-on sentiment It seems a long time ago now that markets were seemingly gripped by a fear of rising inflation when the rise in wages for the…

  • Saudi aiming for $80 Oil, Brent rises back to $70

    April 10, 2018

    Summary: Brent Oil rises back to $70 Price is back near its highest level since 2014  Reports that Saudi want $80 oil ahead of Aramco IPO The Oil price has been rising at the start of this week with tensions in the Middle East rising once more following the latest chemical…

  • Risky assets advance as Xi Jinping eases Trade War concerns

    April 10, 2018

    Summary: Stock markets advance following upbeat remarks from Xi NOK sinks after inflation miss Bitcoin remains close to key technical support level Xi Jinping upbeat speech at Boao forum has set the direction for the stock markets on Tuesday. As risk appetite increases JPY underperforms against all its major peers…

  • Does central bank digital currency threaten financial stability?

    April 10, 2018

    Summary: Swiss National Bank (SNB) governing board member Maechler says private digital currencies have advantages over central bank cryptocurrencies South Korean prime financial regulator is going to inspect three banks over their compliance with new AML norms The Singaporean government plans to develop blockchain technology so as to improve financial…

  • Economic calendar: Will API lead oil to the recent highs?

    April 10, 2018

    Summary: US PPI inflation reading may give investors a hint whether consumer inflation pressure is there or not Number of building permits in Canada expected to decrease A bullish API reading may help OIL test recent highs In Tuesday’s calendar we have some interesting reading planned for release yet in…

  • Risk appetite increases following Chinese President remarks

    April 10, 2018

    Summary: China’s President Xi Jinping reiterates his pledge to greater openness, increased imports Risk-correlated assets get a boost as Xi’s speech could be seen as a turning point Federal Reserve Kaplan claims it’s too early to judge an effect of tariff talks, he opts for three rate hikes this year…

  • Markets anxious awaiting Xi’s speech

    April 9, 2018

    Summary: Equities on the rise but optimism fades ahead of the speech from Xi US dollar down against EUR and GBP ahead of some key events later this week Bitcoin dives back below $7k Make no mistake, markets are all focused on Trade Wars these days. Optimism was present today…

  • Stocks rise on easing tensions, Bitcoin reversed sharply

    April 9, 2018

    Summary: European equities advance yet British ones trade a notch lower Bitcoin reversed after touching $7100 mark Trade War remains the hottest topic among investors With almost empty calendar stock markets climb higher on Monday amid easing trade war tensions. However, we should not relax just yet as new remarks…

  • Bitcoin tries to recover as Soros prepares to trade digital coins

    April 9, 2018

    Summary: George Soros, who called cryptocurrencies a bubble in January, plans to trade digital currencies Chinese PBoC is reportedly aiming to terminate a crypto crackdown begun last year Pakistani central bank briefs banks and other financial services providers to stop supporting virtual currency transactions During the last year there were…

  • Economic calendar: US clash with China continues

    April 9, 2018

    Summary: Quiet day in terms of macroeconomic releases Trade War theme to dominate the rest of the week US and China data in the spotlight amid trade tensions As usual Monday is calm in terms of macroeconomic publications. In the morning Halifax House Price Index from the UK is scheduled…

  • Stocks rebound worldwide, NZ dollar leads the gains

    April 9, 2018

    Summary: Asian stock markets along with the US futures bounce back at the beginning of the week Chinese researcher deems China is unlikely to dump US bonds NZ dollar leads the gains, the Australian dollar trades a bit higher following construction PMI It has been a calm beginning to the…

  • NFP miss does little for the USD; Trade wars remain in focus for stocks

    April 6, 2018

    Summary: NFP misses forecasts and USD falls back USDCAD falls as CAD release strong employment data Trade war talk continues to dominate indices Cryptos fall as banks announce bans Latest recommendations from banks US dollar bulls may have been looking at this afternoon’s NFP report to provide them with some cheer…

  • Canadian employment beats; USDCAD looking to break lower

    April 6, 2018

    Summary: Canadian employment change 32.3k vs 20.1k exp and 15.4k prior Full time jobs +68.3k vs -39.3k prior USDCAD falls near to 6-week low; S-H-S in play  Whilst the Lion’s share of the attention this afternoon has gone to the US NFP report, CAD traders in particular will have a…

  • NFP with big miss but wages rise; USD falls back and precious metals gain 

    April 6, 2018

    Summary: US NFP comes in at 103k vs 188k exp but prior revised higher (326k) Average earnings rise to 2.7% y/y on as expected; 2.6% prior USD drifting lower; precious metals rise The eagerly anticipated NFP release has delivered a slightly mixed message for the US dollar, although on balance…

  • Bitcoin approaches $6500, stocks post moderate losses

    April 6, 2018

    Summary: Cryptocurrencies continue to decline with Bitcoin trading in the vicinity of $6500 European stocks trade lower after biggest daily gain in two years Markets await NFP report (1:30 pm BST) Friday’s early trading was calm as no major macroeconomic releases from Europe were planned. However, the situation may change…

  • Chilean and Indian banks ban purchasing cryptocurrencies

    April 6, 2018

    Summary: The sole Chilean bank working with digital currency exchanges decides to stop servicing their accounts Indian people will be no longer able to purchase virtual currencies through their bank accounts Danske Bank, the leading Danish bank, bans investments in crypto-related instruments Bitcoin and its major peers have no reprieve…

  • Trump roils markets considering new tariffs on China

    April 6, 2018

    Summary: US President Donald Trump instructed the US Trade Representative to consider $100 billion in additional levies against China China blames US for beginning the trade dispute, a move to negotiations still possible though Japanese data illustrates lacklustre wage growth together with household spending This week is all about a…

  • Stocks attempt relief rally; USD gains ahead of NFP

    April 5, 2018

    Summary: Stock enjoy solid day of gains with all major indices rising   USDJPY hits 6-week high above 107 GBP declines following worst services PMI in 20 months NFP in focus with wages the key factor Crypto markets look to stabilise After a heavy start to the week today has seen…

  • USDJPY moves above 107 to trade near 6-week high

    April 5, 2018

    Summary: USDJPY breaks back above the 107 handle USD rising against most pairs and risk sentiment also providing a boost Market remains under pressure unless 108 can be recaptured The US dollar is on course for its largest day of gains this week, with the buck rising against the majority…

  • Stocks extend recovery ahead of US session

    April 5, 2018

    Summary: Stocks have extended the recovery which began yesterday afternoon Sizable gains seen in Europe and US ahead of NA session US trade balance falls; Initial jobless rises to highest in almost 3 months Stock indices are enjoying a fairly widespread day of gains thus far with the recovery which…

  • Could the NFP boost the US dollar?

    April 5, 2018

    Summary: US dollar has untapped potential from higher bond yields technical analysis indicates that a correction is a possibility on EURUSD Wage growth at 3% could be a big trigger for the greenback  The US currency had a dismal year 2017 and this year started in similar moods. Trade Wars…

  • Economic calendar: Trade data in the limelight

    April 5, 2018

    Summary: Swiss inflation data seems to be worth looking at given a global inflationary push UK services PMI should be the most important print for the pound today, beware of downbeat surprises Trade data from the US as well as Canada is in the spotlight as the trade war thread…

  • AUD lower despite upbeat data, Wall Street makes a turnaround

    April 5, 2018

    Summary: US indices ended the day with decent gains despite earlier heavy losses SP500 (US500 on xStation5) bounces back from its relevant long-term support line Australian dollar trades lower even as the macroeconomic data surprised to the upside There was an amazing turnaround on Wall Street yesterday as the major…

  • US-China tensions roil the markets

    April 4, 2018

    Summary: Retaliatory Chinese sanctions shock markets Grains drop sharply, stocks hit with selling Oil looks to recover after DOE draw ADP beats forecasts  Crypto hedge fund industry growth slows Reports that China is going to impose reciprocal duties on 106 US products including soybean (a 25% tariff) have roiled markets…

  • Oil recovers on large DOE draw; Daily close could be key

    April 4, 2018

    Summary: DOE inventories: -4.6M vs +1.4M exp Print not too different to last night’s API Oil pares earlier losses in immediate reaction The weekly DOE inventories have shown a large decline of 4.6M barrels according to the latest data, which was well below the consensus forecast for +1.4M. What is…

  • Stocks correct but is this a buying opportunity?

    April 4, 2018

    There has been more selling seen today in major stock indices with the latest US tariffs proposed by China roiling the markets. The US500, US100 and DE30 have all now fallen into correction territory and are showing some negative technical signs. Are they poised to fall further or does this…

  • US data disappoints; Gold probing prior resistance

    April 4, 2018

    Summary: ISM non-manufacturing PMI; 58.8 vs 59.0 exp and 59.5 prior Factory orders M/M: 1.2% vs 1.7% exp and -1.4% prior  Gold moving near key long term resistance Following  a strong ADP print earlier this afternoon, the next batch of US data has been a little disappointing with both the…

  • ADP beats forecasts; USD edging higher

    April 4, 2018

    Summary: ADP employment change 241k vs 208k exp and 246k prior USD edging higher on the day ISM at 3pm (BST) next on the calendar The latest ADP release has shown a better than expected reading and increased expectations ahead of Friday’s NFP. The non-farm employment change for March came…

  • Stocks remain under pressure, oil declines ahead of DOE

    April 4, 2018

    Summary: European stock benchmarks decline after bearish Asian session Bitcoin is once again testing $7000 handle Deterioration in the UK construction sector Investors are still digesting the newest developments in the trade war theme that caused stocks around the world to decline sharply. AUD and JPY are among the top gaining…

  • Crypto hedge fund industry is shrinking as coin prices fall

    April 4, 2018

    Summary: Taiwan seeks to regulate Bitcoin and other cryptocurrencies Bitcoin (BITCOIN on xStation5) reversed sharply after touching $7400 mark The crypto hedge fund industry is shrinking on the back of sharp drop in digital currencies’ valuation in early 2018 Many of the cryptocurrencies have seen their prices decline in today’s…

  • Economic calendar: Important day for the greenback

    April 4, 2018

    Summary: UK construction PMI along with EMU inflation are among the most important releases before noon US dollar traders await an employment change measured by ADP as well as non-manufacturing ISM DoE is going to release its weekly update on US oil stocks Today’s calendar is packed with many crucial…

  • AUD gains post retail sales, Wall Street bounces back

    April 4, 2018

    Summary: Australian dollar together with the NZ dollar are the strongest currencies in early trading, retail sales helped the Aussie Chinese services PMI disappoints in March, composite PMI slips to the lowest since November Wall Street shakes out as tech stocks recover, Williams named the new chairman of the New…

  • Stocks volatile after declines; CAD surges on NAFTA hopes

    April 3, 2018

    Summary: US markets look to recover after terrible start to Q2 European markets begin lower NAFTA reports see CAD make strong move higher Cryptos look to recoup recent losses  GBP little changed despite manufacturing beat Whilst European markets were closed yesterday for Easter Monday, their US counterparts began the second…

  • US markets vulnerable after poor start to Q2; Trump attacks Amazon again

    April 3, 2018

    Summary: US stock markets vulnerable after poor start to Q2 US500 closed below 200 day SMA for first time in almost 2 years yesterday Amazon drops on Trump tweet  Whilst European markets were closed yesterday for Easter Monday, their US counterparts began the second quarter on the wrong foot with notable…

  • NAFTA talk a key driver for North American currencies

    April 3, 2018

    Summary: CAD and MXN rise on rumours of a NAFTA deal  Reports that Trump wants to make an announcement next week USDCAD and USDMXN could be developing S-H-S reversal signals  There has been some notable gains seen in the Canadian dollar and Mexican Peso in recent trade following some reports…

  • Cryptocurrencies advance, stocks trade lower

    April 3, 2018

    Summary: European stock markets fall under pressure after yesterday’s sell-off on Wall Street Bank of Japan remains reluctant to cryptocurrencies UK manufacturing PMI reading beat forecasts Yesterday’s sell-off on Wall Street set direction for Asian and European stock markets today. Among top laggards one can find the German DAX and…

  • Economic calendar: GBP and oil among key assets to watch for today

    April 3, 2018

    Summary: UK manufacturing PMI seems to be the most important print to watch before noon Crude oil stocks by API as usual should serve as a predictor ahead of the DoE release Two Federal Reserve speakers to watch during the day European stock markets are back after the extended weekend…

  • Wall Street takes a hit, AUD higher after RBA, PMI

    April 3, 2018

    Summary: US major indices plunged during their first session this quarter as tech stocks weighed on the most SP500 (US500 on xStation5) closed below its 200DMA for the first time since June 2016 Australian dollar leads the gains in the morning trading following upbeat PMI and the RBA meeting The…

  • Calm trading ahead of Easter as liquidity remains limited

    March 30, 2018

    Summary: Majority of the global stock markets remains closed due to holiday Bitcoin is swinging up and down in the vicinity of $7k mark Russian equities outperform their European peers in Q1 Majority of the equity markets remain closed today due to Good Friday. Liquidity on the FX market is…

  • Bitcoin tumbles and comes back above $7,000

    March 30, 2018

    Summary: Bitcoin crazy volatility keeps going as the cryptocurrency slips well below $7,000 and bounces back thereafter Five cryptocurrency exchange operators in Japan withdraw applications with the FSA Ford seeks to use blockchain technology so as to communicate cars while they are on the road Most of stock markets are…

  • The Week Ahead: NFP report in the spotlight

    March 30, 2018

    Summary: Wage growth data once again crucial in NFP report Better Canadian labour market data may encourage BoC to lift rates Inflation figures from France and Italy to be released in the morning As almost all stock markets around the globe will remain shut today liquidity on Friday is expected to be…

  • NIKKEI ends week higher after set of Japanese data

    March 30, 2018

    Summary: Tokyo inflation for March points to a slowdown in headline price growth for the whole country Industrial output disappoints while the labour market remains in good shape NIKKEI (JAP225 on xStation5) makes a big comeback this week, yesterday’s gains on Wall Street come to help as well It’s Good…

  • US stocks advance, JPY outperforms G10 peers

    March 29, 2018

    Summary: US stock benchmarks post decent gains after two days of losses Canadian GDP print disappointed missing forecasts heavily Inflation in Eurozone is expected to pick up Bitcoin trades below $7.5k mark Thursday trading session was the last one ahead of the Easter break in most of the countries. US…

  • Euro stays intact despite German inflation disappointment

    March 29, 2018

    Summary: German inflation misses forecasts in March but rebounds from its February low ECB members call for policy normalization EURUSD hovers under its short-term resistance German price growth accelerated in March underpinning the European Central Bank’s stance to begin policy normalization relatively soon. However, inflation missed the median estimate while…

  • Reddit stops accepting Bitcoin, death cross getting closer

    March 29, 2018

    Summary: Reddit stops accepting Bitcoin payments due to some glitches in the system Bitcoin is getting closer to a ’death cross’ heralding a possible major change in the long-term Ripple donates $29 million of its own cryptocurrency to fund public schools Digital currencies continued falling over the past hours with…

  • Economic calendar: Inflation day and Canadian GDP

    March 29, 2018

    Summary: Inflation reports from the US as well as Germany are going to be released Canadian GDP for January could prove to be a market mover for the Loonie Baker Hughes is going to reveal its weekly update on oil rigs a day earlier due to Good Friday Thursday is…

  • China mulls over curbs on US soybean imports, JPY edges higher

    March 29, 2018

    Summary: Asian stocks trade mixed following moderate losses seen on Wall Street Japanese currency resumes rising following a huge decrease against the greenback on Wednesday China still mulls over curbs on US soybean imports being a ’nuclear option’ on trade After several tumultuous sessions across global equities the Thursday’s one…

  • Oil recovers after the DOE report

    March 28, 2018

    Summary: oil prices hesitant after the DOE report  the DOE reported a build in inventory but it’s far smaller than the API indicated US output keeps expanding - a factor that may keep a lid on prices in a longer term The DOE report was much awaited on the market as…

  • US students use loans to invest in cryptocurrencies

    March 28, 2018

    Summary: According to a survey more than one-fifth US students use their student loan debt to invest in virtual currencies ESMA toughens its stance on digital currency derivative contracts Russia implements a draft bill aimed at protecting the rights of crypto owners Major cryptocurrencies have continued moving lower over the…

  • Economic calendar: Will oil prices be supported?

    March 28, 2018

    Summary: Swedish retail sales is the sole noteworthy reading before noon US GDP (the final third print) along with the trade data seem to be especially of note Oil prices are falling in the morning. Will the DoE report underpin them? During today’s session the data concerning oil price seems…

  • NASDAQ declines 3%, GBP rises on further Brexit progress

    March 28, 2018

    Summary: NASDAQ (US100 on xStation5) plunged almost 3% on Tuesday as tech stocks crashed GBP continues bouncing back after The Times’ article on a post-Brexit hard border with Ireland Oil moves down on a huge stocks build reported by API, soured moods across global equities After a brief pullback on…

  • US stocks fail to gain traction, oil waits for API

    March 27, 2018

    Summary: CB Consumer Confidence print missed forecasts US equities wander without direction Oil prices remain on hold ahead of API report The beginning of the US session differed from the one we have seen in Europe today. Major stock benchmarks opened literally unchanged and wandered without direction later on. Nasdaq…

  • Equities continue recovery, USD on the rise

    March 27, 2018

    Summary: Stocks around the world benefit from easing trade war tensions Bitcoin tries to make its way back above the $8k handle US Conference Board is the sole macro release that may shake the markets today The trade war theme is still the main market mover as new revelations and…

  • Top 3 markets so far this year

    March 27, 2018

    Summary: We take a look at the winners so far in 2018 picking up top markets from indices, FX and commodities segments BraComp defied the odds and is on a double digit return already, buoyed by commodity stocks Mexican peso gains amid weak dollar as NAFTA hopes improve Cocoa has…

  • Litecoin loses ground, CBOE mulls over Bitcoin ETPs

    March 27, 2018

    Summary: Litecoin loses ground as the payments processor LitePay ceases operations Chicago Board Options Exchange (CBOE) resumes talks about a possible launch of Bitcoin ETPs Israeli regulator classifies Bitcoin as not a security Litecoin was among the most hit cryptocurrencies on Monday which could be ascribed directly to the newest…

  • Economic calendar: Some US data worth looking at

    March 27, 2018

    Summary: US Conference Board seems to be the most important release scheduled for today Weekly change in oil stocks by API is worth looking at in order to make some predictions ahead of the DoE report A few central bank speeches in the calendar as well The US dollar lost…

  • Wall Street roars back as trade war concerns recede

    March 27, 2018

    Summary: Major US indices surged roughly 3% each during the first session this week US Treasury Secretary Steven Mnuchin voices hopes that a trade war with China is avoidable US dollar loses steam despite upbeat remarks related to NAFTA talks Admittedly, the FX Asian session turned out to be quite…

  • European stocks give up early gains as common currency surges

    March 26, 2018

    Summary: US stock indices opened higher as the tensions concerning trade war ease European stocks reverse early gains after Nouy’s remarks Bitcoin remains under pressure Major US stock benchmarks opened higher on Monday encouraged by the optimism seen in Europe. Speaking of Europe it is worth to note ECB’s Nouy…

  • Stocks advance as trade war concerns ease

    March 26, 2018

    Summary: European stocks head for the green opening of the week Major cryptocurrencies post severe declines in the first part of the day Trade wars and tariffs remain the main topic of the week Lack of the important macroeconomic releases scheduled for today set Monday’s early trading to be calm.…

  • Will Malta become the “Blockchain Island”?

    March 26, 2018

    Summary: Binance, the world’s largest digital currency exchange, decided to relocate its headquarters to Malta Venezuelans will be allowed to purchase houses and other properties with the national cryptocurrency Belarus adopts new accounting standards aimed at dealing with cryptocurrencies Over the weekend major virtual currencies moved a little down being…

  • Economic calendar: Trade war and more to watch for this week

    March 26, 2018

    Summary: US inflation data seems to be the most important macroeconomic reading this week Oil prices recovered from their February slump, this week DoE report could draw yet more attention Not just the data in the spotlight, beware of a trade war unfolding Last week was technically about central banks…

  • US dollar unimpressed by strong data

    March 23, 2018

    Summary durable orders show healthy demand in the US new home sales close to consensus but January figure revised upwards US dollar down again under weight of trade wars concerns The US data released today was fairly strong even if it had little impact on the markets that could be…

  • Stocks keep falling while oil pares previous gains

    March 23, 2018

    Summary: European stocks keep on declining, the SP500 futures point to another bad day on the horizon Oil pares its earlier gains fuelled by the Trump’s cabinet reshuffle USD continues falling, NOK gives back gains as oil resumes losing momentum The US tariffs seem to be the only game in…

  • Could global trade war be positive for cryptocurrencies?

    March 23, 2018

    Summary: Bitcoin daily transactions keeps hovering at its lows suggesting no substantial rebound any time soon Why a possible trade war might help cryptocurrencies? Coinbase is set to make its biggest acquisition in history Observable calmness across digital currencies may be a bit cryptic when global equity markets took a…

  • Economic calendar: Big day for the Canadian dollar

    March 23, 2018

    Summary: Inflation and retail sales reports from the Canadian economy are likely to shake the CAD US durable goods along with new home sales are going to be the sole macroeconomic readings from the US Baker Hughes is going to release its weekly update on oil rigs The last trading…

  • Global equities plummet as Trump signs Chinese tariffs

    March 23, 2018

    Summary: US President Donald Trump announces his tariff plan against China with numerous exemptions China plans to take retaliatory steps with a much less scale though US National Security Advisor is going to be replaced with John Bolton Global equities tumbled while the US dollar lost ground after US President…

  • US services PMI disappoints, USDJPY on the verge of a breakout

    March 22, 2018

    Summary: US services PMI comes in well below expectations while manufacturing one slightly beats the consensus US500 losses more than 1% at the beginning of trading awaiting the Trump’s announcement Make or break - a major support line being tested on the USDJPY European PMIs disappointed across the board, however,…

  • Stocks deepen losses, commodities gain ground

    March 22, 2018

    Summary: European equities deepen their morning losses fuelled by weakish PMIs British pound stays muted after equivocal retail sales and ahead of the BoE Commodities get back some of appeal as the greenback takes a step back Thursday trading is passing in the face of weaker PMIs coming from the…

  • Litecoin bounces off short-term resistance

    March 22, 2018

    Summary: Twitter CEO presents his strong belief in the future of Bitcoin Litecoin bounces back from its crucial short-term resistance Japanese Fujitsu launches its Blockchain Innovation Centre in Europe Cryptocurrencies proved to be somewhat more resilient to the latest developments in the United States (both the Fed decision and the…

  • Economic calendar: It’s the Bank of England turn

    March 22, 2018

    Summary: UK retail sales may help set expectations ahead of the BoE meeting later today Bank of England is anticipated to pave the way for a rate hike in May US preliminary PMIs (both manufacturing and services) are going to be released in the afternoon Wednesday was dominated by the…

  • Antipodean currencies in the spotlight after RBNZ, jobs report

    March 22, 2018

    Summary: RBNZ leaves rates unchanged in line with forecasts and makes subtle changes to the statement AUD trades a tad lower despite solid labour market numbers Donald Trump is expected to sign around $50 billion of tariffs against China on Thursday It was a hot period of time with monetary…

  • US dollar mixed as Fed raises rates

    March 21, 2018

    Summary: Fed increases rates by 25 bps as expected Dot-plot sees 3 hikes this year (2 more) but dots moved up, 4 hikes a possibility Fed sees higher growth, slightly higher inflation and higher rates in 2019, 2020 US dollar gains in the first reaction but moves are limited The…

  • US homes sales rebound, US30 hovers above key support

    March 21, 2018

    Summary: US existing home sales surprised to the upside in February despite a shrinking supply Equity investors remain cautious ahead of the Fed decision US30 hovers just above its crucial short-term support In spite of the fact that the US economy saw rising mortgage rates last month US existing home…

  • Stocks and USD fall, oil prices resume rising

    March 21, 2018

    Summary: Stock markets and the US dollar are retreating ahead of the Fed decision Pound holds its post-labour data gains before the Bank of England meeting Oil prices are moving higher in anticipation of a DoE weekly release Equity investors seem to be cautious with regard to piling into stocks…

  • G20 summit pushes Bitcoin back above $9000

    March 21, 2018

    Summary: G20 summit in Argentina produces "constructive" discussions on cryptocurrencies Bitcoin comes back above $9000 after a brief decline well below $7500 8% of the American population currently own digital currencies, the details are yet more interesting The G20 summit taking place in Argentina was believed to be the relevant…

  • Economic calendar: It’s (not) all about the Federal Reserve

    March 21, 2018

    Summary: Traders are awaiting the first press conference of Jerome Powell, a rate hike is a done deal UK labour market data will be eagerly watched following a quicker than forecast inflation slowdown RBNZ is expected to leave rates unchanged, the NZ dollar could wobble DoE is likely to report…

  • Canadian dollar benefits from NAFTA talks progress

    March 21, 2018

    Summary: The US decided to scrap one of the most contentious demand in NAFTA talks NZ dollar continues trading on the back foot following weak second-tier data US stocks recover after the gloomy start to the trading week After a successful session on Tuesday the US dollar is giving back…

  • USD gains momentum along with oil prices

    March 20, 2018

    Summary: US dollar gathers pace ahead of the Federal Reserve meeting European stock markets hold onto their modest gains Oil prices keep rising as investors await the weekly update on stocks from API The US dollar did not look bad in the morning, however, since then it’s recovered quite substantially…

  • EURUSD, US500 ahead of the FOMC

    March 20, 2018

    Summary: The Fed is expected to increase rates, make a hawkish shift on Wednesday Traders will look into statement, dot-plot for changes Decision and materials will be published at 6pm GMT on Wednesday, conference begins 30 minutes later  The March FOMC meeting is by far the most anticipated market event…

  • Trump’s power spreads over cryptocurrencies

    March 20, 2018

    Summary: US President Donald Trump signed an executive order banning American citizens from using Venezuelan digital currency A major risk identified for Ethereum. Will crypto whales cause a crash? Israeli watchdog announces cryptocurrency companies will not be included in stock exchange indices US President Donald Trump is always among the…

  • Economic calendar: Could GBP jump be sustained?

    March 20, 2018

    Summary: UK inflation will be the most important figure during today’s session German ZEW index is likely to show a little less optimistic moods in March API is going to report its weekly change in oil stocks There is no doubt that the British pound divided and conquered on Monday…

  • Wall Street declines on FANG sell-off, AUD lower post RBA minutes

    March 20, 2018

    Summary: US indices took a hit on Monday mainly due to a sell-off seen on FANG US President Trump is to unveil details as for tariffs on Chinese products by Friday RBA minutes offered no new clues regarding monetary policy, Antipodean currencies slightly lower on the day The first session…

  • EUR pops higher on ECB leaks, GBP benefits from Brexit story

    March 19, 2018

    Summary: European stock markets remain depressed, and the US futures point to a gloomy opening alike British pound likes latest comments regarding Brexit, euro jumps higher on some ECB leaks Commodities stay on the back foot, Norwegian krone loses steam along with oil prices The beginning to the new trading…

  • PwC announces its new blockchain auditing service

    March 19, 2018

    Summary: Bitcoin managed to stay above a $8000 mark, BoE’ Mark Carney helped virtual currencies Price Waterhouse Cooper, a company being a part of a big four accounting firms group, announced its blockchain auditing service The Senate of Wyoming (US) is going to exempt cryptocurrencies from property taxation The entire…

  • Japanese yen slightly higher as new week unfolds

    March 19, 2018

    Summary: Japan’s yen advances against its major peers in G10 despite weaker trade balance as well as cautious remarks from the BoJ NZ dollar is placed among the largest losers in the morning following slower than previously growth of services PMI Asian stock markets begin the week positively except for…

  • Sudden jump in oil ends politically-driven week

    March 16, 2018

    Summary: Oil prices bounce back in late Friday’s trading ahead of the Baker Hughes report Stock markets end up the week with gains, European inflation proves to be weaker than initially thought US dollar gains momentum following splendid industrial output and consumer confidence It’s been the ugly week for commodity-related…

  • US consumer sentiment rises to highest since 2004

    March 16, 2018

    Summary: US consumer confidence increases to the highest level since 2004 easily exceeding market expectations 1-year inflation expectations pick up the most since March 2015 just ahead of the Fed meeting USDCAD seems to be set for a major breakout looking at a weekly time frame Following rosy industrial output…

  • Stocks slightly higher, commodity currencies stay under pressure

    March 16, 2018

    Summary: European stock markets trade slightly higher despite another political tailspin coming from the US Commodity-related currencies stay under pressure Global bond yields take another step back Beginning with the currency market one may notice that the Japanese yen has been able to hold its prior gains so far while…

  • Cryptocurrencies settle down, CBOE plans more crypto derivatives

    March 16, 2018

    Summary: Major digital currencies seem to settle down following widespread declines after the Google-fuelled story CBOE plans to launch derivatives contracts on other cryptocurrencies UK-based cryptocurrency exchange mulls over entering the Bitcoin futures market Whipping through major cryptocurrencies one may notice that most of them have settle down lately, after…

  • Economic calendar: Some noteworthy prints from US

    March 16, 2018

    Summary: Final Eurozone CPI print for February to be released in the morning Will housing market data prove the stellar condition of US housing market signalled by the latest print? Economists point to a small deterioration of the UoM consumer sentiment print A quite interesting week marked by the reshuffles…

  • Trump set to fire his another adviser, JPY on the rise

    March 16, 2018

    Summary: US President Donald Trump is reportedly ready to fire his national security adviser before meetings with North Korea in May JPY is set to end this week as the second best currency in the G10 basket, giving way just to the SEK NZ dollar loses steam as manufacturing PMI…

  • Stocks attempt to recover; NOK surges on Hawkish Norges Bank

    March 15, 2018

    Summary: Stock indices show cautious gains on the European close Norwegian Krona surges higher after hawkish comments Bitcoin bounce fades Technical overview: Gold Active bank recommendations It’s been a mildly positive day so far for stocks, with European indices making small gains. The US is pretty much flat at the…

  • Wall Street opens looking to halt losing streak

    March 15, 2018

    Summary: US stocks little changed at the beginning of the cash session US500 looking to halt a run of 3 consecutive declines Stock buybacks could support markets going forward It’s been a relatively benign day for equities so far with the US500 trading little changed on the Wall Street open.…

  • Norges Bank supports krone, stocks remain steady

    March 15, 2018

    Summary: Norges Bank expects first rate hike to occur in the second half of the year Major European stock benchmarks remain in the vicinity of today’s opening Bitcoin makes its way back above $8k Norges Bank stole the show in the morning as it signalled that the first interest rate…

  • Bitcoin makes a comeback from key technical support

    March 15, 2018

    Summary: Bitcoin imploded but then recovered following a Google story IMF’s Lagarde calls for blockchain-powered Bitcoin regulations Economic uncertainty in South Africa lifts a count of Google searches for Bitcoin and other cryptocurrencies Yesterday we wrote about the story regarding Google which decided to ban all ads promoting digital currencies…

  • Economic calendar: SNB and Norges Bank decisions

    March 15, 2018

    Summary: Swiss National Bank is expected to leave rates unchanged Norges Bank will make its first decision after lowering inflation target Semi-important data from the US scheduled for release in the afternoon Taking a look at the Thursday’s economic calendar one can see that we have some interesting readings and…

  • NZ dollar remains resilient to disappointing GDP

    March 15, 2018

    Summary: New Zealand’s GDP misses forecasts in the last quarter of the past year Lower exports due to falling milk production weighed the most on growth momentum Dow Jones (US30 on xStation5) lost 1% as Boeing shares pulled the index down The beginning of trading on Thursday is quite calm…

  • Markets jittery after Tillerson axe; US retail sales disappoint

    March 14, 2018

    Summary: Stocks remain under pressure following Tillerson firing  Oil searching for direction after DOE data US retail sales decline for 2nd consecutive month; USD mixed Cryptos decline on Google ad ban Swedish CPI meets forecasts as SEK moves higher There’s been further weakness seen in the stock markets today as…

  • Oil lacks direction after mixed DOE data

    March 14, 2018

    Summary: DOE inventories: 5.0M vs 2.5M exp and 2.4M prior Large draws in distillate and gasoline contradict build in headline  Oil markets lack direction and remain in longer term consolidation The weekly US oil inventory data has just been released, but unfortunately it has provided little by the way of clarity…

  • US Retail sales show consecutive contractions but USD looks to end losing streak

    March 14, 2018

    Summary: US retail sales miss forecasts to fall for 2nd consecutive month PPI rises to 2.5% Y/Y to provide some USD support USD remains higher on the day after recent losing streak The biggest economic data release of the afternoon has seen a disappointing number for consumer spending in the…

  • Stocks pare early losses, Bitcoin remains under pressure

    March 14, 2018

    Summary: European stocks pare early losses Swedish krone trades higher following inline CPI reading Bitcoin dips below $9k mark Stock markets remained under pressure in the morning as Donald Trump plans to impose tariffs on Chinese goods spurred new wave of uncertainty on the markets. However, losses were erased by…

  • Trump fires Rex Tillerson – consequences for the markets

    March 14, 2018

    Summary: Donald Trump fired State Secretary Rex Tillerson Tillerson was more moderate on many key issues OIL and US500 can be among markets influenced by this decision After a departure of Gary Cohn, a firing of Rex Tillerson could be another step towards a more radical and unpredictable White House.…

  • Bitcoin seems to play down shocking Google’s announcement

    March 14, 2018

    Summary: Google is going to ban all ads promoting cryptocurrencies and initial coin offerings (ICOs) A joint stance of the European Central Bank and Bank for International Settlements says "Bitcoin is not the answer to the cashless economy" Japan is expected to call for stricter rules for cryptocurrencies at the…

  • Economic calendar: US data marathon continues

    March 14, 2018

    Summary: Another data from the US economy to  be released in the early afternoon Oil traders will closely watch US output figures in the DOE report New Zealand’s economy is expected to accelerate in the Q4 2017 On Wednesday investors will be served with another portion of data from the…

  • Wall Street turns negative as new tariffs in the offing

    March 14, 2018

    Summary: US President Donald Trump plans to impose tariffs on Chinese goods being worth up to $60 billion, according to people with direct knowledge of the matter A package of macroeconomic readings from China beats forecasts except for retail sales NZ dollar trades a notch higher despite a slight miss…

  • Stocks drop on Tillerson firing; Dovish Poloz sends CAD lower

    March 13, 2018

    Summary:  Stock markets sell off on more political drama in Washington Tillerson firing sees gains from CPI handed back  CAD sinks as Poloz strikes dovish chords Crypto fail to hold on to gains after upbeat remarks OECD raises forecast for global growth There’s been some pretty sizable selling seen in…

  • CAD sinks on Dovish Poloz

    March 13, 2018

    Summary: BoC Governor Poloz speaks in Ontario Strikes dovish tone "downside risks to inflation" Canadian dollar hit with wave of selling and trades lower across the board There’s been a fairly sharp move lower in the Canadian dollar this afternoon following  a speech from Bank of Canada (BOC) Governor Poloz…

  • US CPI meets expectations; Trump fires Tillerson

    March 13, 2018

    Summary: US CPI Y/Y 2.2% vs 2.2% exp; Core Y/Y 1.8% vs 1.8% exp Trump unexpectedly fires Secretary of State Tillerson Precious metals surge higher, USD falls back An unexpected announcement from Trump has caused some volatility in the last hour with news that CIA director Mike Pompeo will replace…

  • Investors await US inflation, Bitcoin tests $9k handle

    March 13, 2018

    Summary: OECD lifts global growth forecasts US inflation data in the spotlight Bitcoin flirts with $9k mark Early trading on Tuesday was calm as investors stay cautious ahead of US inflation reading. Having that in mind we can expect increased volatility in the early afternoon as the release is scheduled…

  • Upbeat remarks from European authority on cryptocurrencies

    March 13, 2018

    Summary: The chairman of the European Banking Authority says cryptocurrencies should not be unduly regulated Thomson Reuters launches a Bitcoin sentiment data feed Garlinghouse, CEO of Ripple, suggests digital currencies solve real-world banking and remittance problems Major cryptocurrencies have not witnessed any greater volatility recently, hence most of them have…

  • Economic calendar: US inflation in the spotlight

    March 13, 2018

    Summary: US inflation data crucial ahead of FOMC meeting Governor Poloz to speak about labour market in the early afternoon BoJ will release minutes from its last monetary policy meeting overnight In Tuesday’s economic calendar we have few releases planned but some really important ones. The US inflation data will…

  • NZ dollar climbs, mixed data from Australia

    March 13, 2018

    Summary: NZ dollar is gaining the most within G10 basket, RBNZ’s acting governor Spencer delivers his remarks on macro-prudential policy  Australian companies noted improved business conditions last month, business confidence eased off though Asian stocks are going nowhere following mixed results on Wall Street Looking around the FX market one…

  • US100 hits all-time high; Crypto falls as interest wanes

    March 12, 2018

    Summary:  US100 build on Friday’s gains to post new all-time high Crypto market turn lower as interest seemingly declines Gold drops back to retest potentially key support Reports that ECB set to pull trigger on rates in mid-2019  It’s been a positive start to the week for stock market bulls…

  • Gold retests NFP levels; divergence with Silver apparent

    March 12, 2018

    Summary:  Gold has dropped today to trade back near its pre-NFP levels  US CPI tomorrow could decide whether key support around 1305 holds Divergence apparent in Gold and Silver There’s been a little weakness seen in precious metals today with losses in the range of 0.3-0.6% currently seen in Gold,…

  • US stocks looking to build on Friday’s gains

    March 12, 2018

    Summary: US cash session begins with markets above Friday’s close US100 leading the charge and posts a new all-time high US clocks go forward 1 hour for Daylight savings time   It’s been a positive start to the week for stock market bulls with most major indices rising so far today.…

  • Stocks advance while commodities remain under pressure

    March 12, 2018

    Summary: Global stock markets rallying at the beginning of new week Investors will pay attention to the US data this week Bitcoin is moving closer to $10k mark With Monday’s economic calendar being almost empty early trading at the beginning of the week has been calm. European stock indices follow…

  • Crypto interest disappears, another security concern to watch

    March 12, 2018

    Summary: Based on the data provided by Google cryptocurrency interest declines rapidly  Binance, one of the largest cryptocurrency exchanges globally, offers a $250k reward for arrest of hackers after the last week heist  Romanians seem to be well familiarized with cryptocurrencies  A majority of digital currencies are trading sideways at the…

  • Economic calendar: A pack of data from the US

    March 12, 2018

    Summary: EU finance ministers will meet to discuss developments in Greece case US inflation data will be crucial this week Monthly industrial and retail sales reports from China to be released on Wednesday As usual Monday is calm in terms of the macroeconomic data. We do not have any top…

  • AUD and NZD gain momentum, Asian stocks rise following NFP

    March 12, 2018

    Summary: Antipodean currencies have kicked off the new week with decent gains being propped up be increased risk appetite US dollar retreats after wishy-washy moves on Friday, FED’s Bullard concerns about a count of hikes this year  Asian stocks benefit from the reassuring US employment report  The beginning of the…

  • Stocks surge on sweet-spot NFP; USD falls back 

    March 9, 2018

    Summary: Strong NFP beat but drop in wages create sweet spot to send stocks soaring Canadian dollar rises despite soft jobs data NOK gains as CPI climbs above target Bitcoin keeps falling harsh SEC and Twitter remarks  What on the face of it could be described as a mixed report for…

  • Canadian jobs miss but CAD remains higher; 2 CAD pairs to watch

    March 9, 2018

    Summary: Canadian employment change: 15.4k vs 21.3k exp and -88.0k prior Full time change -39.3k vs 49k prior Despite soft data CAD remains higher; USDCAD and EURCAD at key levels Whilst the Lion’s share of attention was on the US jobs report, the Canadian one produced some interesting developments with…

  • NFP smashes forecasts but wage growth slows; US500 surges higher

    March 9, 2018

    Summary: NFP employment change: 313k vs vs 205k exp and 239k prior Average earnings Y/Y: 2.6%  vs 2.8% exp US500 jumps sharply rallying over 20 points in last 15 minutes What on the face of it could be described as a mixed report for the US has seen a clear market…

  • Markets await NFP, NOK surges on inflation beat

    March 9, 2018

    Summary: NOK gains on the inflation beat Trump-Kim summit announcement triggers risk-on sentiment Investors await US labour market report Donald Trump announced yesterday implementation of the steel and aluminium tariffs causing CAD to move higher as Canada was exempted. Today investors will be mainly focus on the labour market data from…

  • Bitcoin keeps falling on harsh SEC, Twitter remarks

    March 9, 2018

    Summary: Bitcoin declines below $9k extending its downward move following the SEC statement and new remarks from Twitter BTC sellers could even try to test a crucial demand zone a notch beneath $6k More than 20% of wealth advisers and private bankers taking part in an annual survey said their…

  • Economic calendar: Focus on NFP report

    March 9, 2018

    Summary: Labour market data to be decisive for USDCAD Investors will pay close attention to US wage data Fed’s Evans to speak on monetary policy in the evening On Friday investors will be focused on the labour market data from the US and Canadian economies. USD traders will especially pay…

  • Trump signs tariff plan, BoJ stays on hold

    March 9, 2018

    Summary: US President Donald Trump pushed forward with his tariff plan on Thursday Bank of Japan keeps rates unchanged, real wage growth data disappoints Chinese inflation shot up in February, North Korea announces his denuclearisation plan  In defiance of US allies Donald Trump decided to sign a tariff bill on…

  • EUR reverses lower post-ECB as stocks attempt to rally

    March 8, 2018

    Summary: Euro pares initial gains after ECB drop easing bias from statement Draghi walks back on perceived hawkish shift and stocks surge higher US500 hits monthly high ahead of expected announcement on tariffs Moody’s downgrades Turkey on geopolitical risks Could Ripple become the new Bitcoin Gold technical overview ahead of…

  • Stocks rise to monthly highs as Trump expected to announce Tariffs 

    March 8, 2018

    Summary:  Trump to announce tariff decision at 3:30 PM ET Levies are expected to be placed on steel and aluminium  US500 rises to highest level of the month The much discussed trade tariffs form the US are expected to be formalised later on this evening with President Trump scheduled to…

  • Draghi walks back on easing bias omission

    March 8, 2018

    Summary: Euro pares earlier gains as Draghi walks back on easing bias ommision Growth forecasts revised higher Inflation projections moved down The Draghi press conference following the most recent ECB rate decision, where all rates were unanimously kept on hold has seen a paring of the initial moves with the Euro…

  • Euro jumps as ECB drops easing bias

    March 8, 2018

    The shared currency spiked following the ECB announcement as the bank decided to drop its pledge with regard to increasing its bond buying program if needed. On top of that the European Central Bank kept a wording concerning reinvestments of maturing debt for as long as necessary. In response to…

  • Could Ripple become the new Bitcoin?

    March 8, 2018

    Summary: Some crypto experts bode well for the Ripple future suggesting it could become the next Bitcoin Bitcoin takes a step back following the SEC statement saying online platforms trading cryptocurrencies need to register with the agency Japanese regulator order to suspend activity for two domestic crypto exchanges Major cryptocurrencies…

  • Economic calendar: Markets await Mario Draghi

    March 8, 2018

    Summary: ECB decision and post-meeting conference may shake the markets in the early afternoon Semi-important data from the Canadian housing market to be released today Investors may take a closer look at today’s jobless claims data ahead of the NFP report Thursday is the most awaited day of this week…

  • Japanese GDP, trade data capture attention during Asian session

    March 8, 2018

    Summary: Japanese GDP was revised up, all components made a positive contribution Chinese saw a massive increase in a trade surplus as exports had surged, Australian balance showed a pick-up as well US President Donald Trump is expected to sign a tariff plan today, some exemptions could take place The…

  • Oil erases recent gains; CAD falls on BOC

    March 7, 2018

    Summary: Another DOE build has seen oil drop sharply to near its weekly lows BOC keep rates on hold, but trade warning weighs on CAD ADP beats forecasts as NFP hopes are raised Crypto markets sell-off ECB and NFP preview  The weekly DOE inventory data from the US has shown…

  • Oil turns sharply lower after another DOE build

    March 7, 2018

    Summary: DOE inventories 2.4M vs 2.6M exp and 3.0M prior 5 of the past 6 weeks have now shown increases Oil falls sharply after initial rally fails  The weekly DOE inventory data from the US has shown another build and despite an attempt to move higher immediately following the release the…

  • BOC keeps rates on hold but cautions on trade

    March 7, 2018

    Summary: Bank of Canada keep rates on hold at 1.25% Statement cautions on growing uncertainty in trade USDCAD looking to make significant break higher The Bank of Canada have kept rates on hold following their latest monetary policy meeting as was widely expected, but some cautious rhetoric surrounding trade has…

  • ADP beats forecasts to raise expectations ahead of NFP

    March 7, 2018

    Summary: ADP employment change 235k vs 199k exp Prior revised higher by 10k to 244k  USD moving higher post release Given the fallout from last month’s NFP report, this Friday’s release will no doubt be highly anticipated (preview here). Today we’ve had some data to whet the appetite, with the…

  • CAD underperforms ahead of BoC, stocks pare initial losses

    March 7, 2018

    Summary: European economy maintains a decent pace of the economic growth Asian and European stocks fell under pressure following Gary Cohn resignation Cryptocurrencies are posting declines across the bloc Resignation of the Donald Trump’s top economic advisor hit stock markets in Europe and Asia with a wave of selling. However,…

  • Cryptocurrencies turn lower, PayPal to speed up crypto payments

    March 7, 2018

    Summary: PayPal is going to improve the speed of cryptocurrency payments Cambodia could follow Venezuela and launch its own cryptocurrency project named Entapay Coinbase is releasing a weighted index fund for digital currencies in order to reflect the major attitude to the crypto world Along with soured moods seen across…

  • Economic calendar: All eyes on BoC and DOE

    March 7, 2018

    Summary: Final Q4 reading of Eurozone’s GDP to be released in the morning Bank of Canada will announce its interest rate decision in the afternoon Will today’s DOE report confirm a huge build in inventories suggested by API? Wednesday’s main market event is unquestionably Bank of Canada interest rate decision…

  • CAD extends its slide as Trump’s advisor Cohn resigns

    March 7, 2018

    Summary: Gary Cohn, Donald Trump’s top economic advisor, announces his resignation after a fiasco in a trade battle with President  Australian GDP comes in slightly below forecasts, AUD remains quite muted though API reports a healthy stocks increase sending crude prices lower ahead of the DoE release The US dollar…

  • Stocks fade after early gains; SEK falls after Riksbank’s remarks

    March 6, 2018

    Summary: Stock indices have sold off into the European close after earlier moving higher Italian stocks regain post-election losses SEK depreciates on Riksbank’s comments  Ripple completes round-trip on Coinbase rumours Active bank recommendations Most of today’s European session was positive for stock indices with major bourses all moving higher and building…

  • US stocks to open higher but remain in broader consolidation

    March 6, 2018

    Summary: US stocks began the week in a bullish mood with large gains The US500 is now firmly back above 2700 but remains in consolidation Fib levels to keep an eye on Despite the recent rhetoric surrounding trade wars from the US and the outcome of the Italian election, stock markets…

  • JPY underperforms as optimism returns to global stock markets

    March 6, 2018

    Summary: Reserve Bank of Australia left interest rates unchanged Cryptocurrencies fall under pressure Data from the US and Canadian manufacturing sector scheduled for release in the afternoon As investors played down doubts concerning the potential launch of a trade war an upbeat moods have returned to the stock markets. European…

  • Ripple see-saws as markets talk about Coinbase joining

    March 6, 2018

    Summary: Ripple, the third largest digital currency in terms of capitalization, jumped following traders’ talks concerning joining Coinbase but sank afterwards The likelihood of Bitcoin declining to $100 is greater than seeing it surging to $100k Tuesday could be a crucial day for Bitcoin taking account of the current technical…

  • Economic calendar: Will API provide more fuel for oil bulls?

    March 6, 2018

    Summary: Data from the US and Canadian manufacturing scheduled for the afternoon Weekly API report expected to show another build in oil inventories RBA Governor Lowe to deliver speech in the evening Taking a look at the Tuesday’s economic calendar one can see a lack of top tier macro releases from…

  • RBA stays on hold, somewhat more clarity on Trump’s tariffs

    March 6, 2018

    Summary: Reserve Bank of Australia leaves rates unchanged as broadly expected, a set of domestic data disappoints US President announces exemptions from steel and aluminium tariffs for Canada and Mexico depend on a NAFTA final agreement US stocks gained over 1% as traders decided to ignore trade war fears on…

  • US stocks pare early losses, AUD awaits RBA decision

    March 5, 2018

    Summary: Reserve Bank of Australia to announce its interest rate decision overnight ISM non-manufacturing index beats estimates but employment data looks worrying Investors are cautious as the launch of trade war seems possible Monday was quite calm in terms of data release yet it proved to be much more interesting…

  • Ripple gains on South Korean story, Carney’s remarks on crypto

    March 5, 2018

    Summary: One of the largest South Korean bank has purportedly ended an overseas remittance trial developed by Ripple with success Ripple rises to the highest point since 20 February following the story coming from Asia Mark Carney, the head of Bank of England, says the institution will step up its…

  • Economic calendar: Central banks in the spotlight this week

    March 5, 2018

    Summary: UK services PMI along with US non-manufacturing ISM are the most crucial readings for today Meetings of RBA, BoC and ECB in conjunction with the monthly NFP release are on the agenda later this week Further details regarding steel and aluminium tariffs are worth looking at as the trade…

  • Euro trades subtly lower after Italian election, SPD comes forward

    March 5, 2018

    Summary: Italian populist anti-establishment parties perform better than expected SPD members voted in favour of a grand coalition with Merkel’s CDU/CSU ending the long-standing political gridlock Australian dollar trades lower following disappointing inventories boding not well ahead of GDP later this week The Italian election along with the SPD voting…

  • Stocks looking fragile heading into the weekend; CAD falls on GDP miss

    March 2, 2018

    Summary: Stocks under pressure despite US consumer confidence beating forecasts Trade war concerns weighing on global indices Canadian GDP misses forecasts and CAD moving lower UK construction PMI ticks higher CFTC allows employees to trade crypto; Bitcoin respects resistance The revised University of Michigan consumer sentiment index for February came…

  • US consumer sentiment rises to 2nd highest in 14 years but stocks remain fragile 

    March 2, 2018

    Summary: Uni Mich comes in at 2nd highest in 14 years Print of 99.7 vs 99.4 expected US500 set for large weekly drop Consumer sentiment in the US remains high by historical standards with the latest survey beating forecasts. The revised University of Michigan consumer sentiment index for February came…

  • Canadian GDP misses forecasts; USDCAD tests major level

    March 2, 2018

    Summary: Canadian GDP Q/Q (annualised) +1.7% vs 2.0% exp First half of 2017 GDP 4.2% falls to 1.6% in second half CAD extends declines after already trading lower on trade war talk   The most recent growth figures from Canada have come in worse than expected and the trend appears to…

  • Investors turn to JPY and CHF following Trump’s remarks

    March 2, 2018

    Summary: Norway lowers its central bank inflation target to 2% Stocks remain depressed as the potential trade war may be just around the corner Canadian GDP print to be released in the afternoon Jerome Powell hearings in the Congress were expected to be a market mover events this week and…

  • Norway cuts inflation target, NOK surges

    March 2, 2018

    The Norwegian Finance Ministry has just decided to lower the central bank’s inflation aim to 2% from 2.5% causing a wild increase in the NOK as it takes the Norges Bank closer to the target. The official statement says "The new regulation builds on the lessons learned since 2001, and…

  • CFTC allows its employees to trade cryptocurrencies

    March 2, 2018

    Summary: US Commodity Futures Trading Commission (CFTC) formally allows its employees to trade digital currencies, a ban on BTC futures stays in place though Jamie Dimon chimes in again, JPM admits virtual currencies could disrupt banks Porsche is mulling over implementing blockchain into its cars, how could it work? Cryptocurrencies’…

  • Economic calendar: Canadian data in the spotlight

    March 2, 2018

    Summary: UK Construction PMI print to be released in the morning Economists expect slowdown in Canadian GDP growth Consumer sentiment measured by UoM heralded to show a little downside With this week’s major events like Powell hearings in Congress already behind US traders will focus on the regular macro releases…

  • Wall Street tumbles as Trump kicks off trade war

    March 2, 2018

    Summary: US President Donald Trump is going to impose tariffs on steel and aluminium imports, a big move kicking off possible trade war Wall Street plunges following the Trump’s announcement, US dollar trades lower as well Japanese unemployment surprises to the upside, but inflation remains still off the target Announcing…

  • USD extends its gains on upbeat data; Stocks remain under pressure

    March 1, 2018

    Summary: USD builds on recent gains as ISM surpasses forecasts PCE core comes in inline whilst initial jobless drops to lowest since ’69 Technical overview of Gold UK manufacturing slips GBP drifts lower Bitcoin gains despite SEC probe talk Italian elections come into focus The ISM manufacturing PMI rose in…

  • ISM manufacturing PMI at 14-year high; USD pushes higher

    March 1, 2018

    Summary: ISM manufacturing PMI comes in at joint highest since 2004 Print of 60.8 vs 58.7 exp and 59.1 prior USD extends recent gains There’s been more strong data from the world’s largest economy this afternoon with the latest manufacturing survey beating forecasts shortly after initial jobless claims fell to…

  • US inflation comes in inline; US stocks look to extend run of 1%+ moves

    March 1, 2018

    Summary: US January PCE core index Y/Y 1.5% vs 1.5% expected Initial jobless claims falls to lowest level since 1969 S&P500 looking for 5th consecutive 1%+ daily swing; longest run since June ’16 Inflation has been a hot topic of late for the markets and today’s release of the Fed’s…

  • Investors await Powell, stocks on the back foot

    March 1, 2018

    Summary: UK manufacturing PMI came out better-than-expected European equities extend their yesterday’s losses Second appearance of Jerome Powell in the afternoon Thursday’s early trading was led by the declines on the stock markets as investors await second Powell hearing. Investors will look for hawkish remarks after Tuesday’s hearing turned out…

  • What to expect from the Italian general elections?

    March 1, 2018

    Summary: The Italian general elections will take place on the 4th of March According to polls no party will be able to secure the governing majority Silvio Berlusconi’s centre-right coalition is expected to win the most votes FTSE MIB (ITA40 on xStation5) remains firm, EURUSD under pressure ahead of the…

  • Bitcoin feels pain as SEC looks into cryptocurrencies

    March 1, 2018

    Summary: The US Securities and Exchange Commission (SEC) looks into the cryptocurrency market, according to the Wall Street Journal Germany moves away from taxing Bitcoin users for using the cryptocurrency in transactions Alibaba reportedly mulls over adopting blockchain technology in its cross-border supply chain Bitcoin’s price action has been outstandingly…

  • Economic calendar: Second day of Powell’s hearings

    March 1, 2018

    Summary: Manufacturing PMI readings from the world’s major economies to be released throughout the day Second day of new Fed chair hearings in Congress Important US inflation data scheduled for release in the afternoon Today is the second day of new Fed chair hearings in the Congress. Tuesday’s testimony turned…

  • Lower CAPEX weighs on Australian dollar

    March 1, 2018

    Summary: Australian CAPEX in Q4 misses forecasts offering some doubts ahead of the next week GDP release Better macroeconomic readings from New Zealand and Japan but currencies remain unimpressed White House is going to make a major announcement about new limits on steel and aluminium imports The major event during…

  • Crude slumps after inventory rise; USD tests 6-week high

    February 28, 2018

    Summary: Oil markets turn lower after large DOE inventory build Oil.WTI technical overview US GDP drops as forecast but USD moves near 6-week high European inflation slows down and Euro breaks key support Bitcoin moves lower as EU announce they could regulate cryptos A larger than expected rise in US…

  • Oil turns lower after large DOE build

    February 28, 2018

    Summary: Weekly DOE inventories +3.0M vs +2.4M exp and -1.6M prior 2nd largest build in 5 months; also higher than last night’s API Oil falls to its lowest level of the day below $66 a barrel A larger than expected rise in US oil inventories has weighed on the price…

  • US growth revised lower but the Buck looks to move higher

    February 28, 2018

    Summary: US GDP growth for Q4 2017 revised lower to 2.5% (annualised) Fall in net exports the main laggard USD looking for second day of good gains The US economy grew slightly slower than previously thought in the final quarter of last year, according to the latest data release. The…

  • Stocks on the back foot, AUD surges

    February 28, 2018

    Summary: Eurozone inflation slows down in line with expectations Bitcoin is back below $11k mark Investors await US GDP data Wednesday morning was quite interesting mainly due to the macro readings from the EMU economies that showed a mediocre results. Stocks in Europe remain under pressure after wave of selling…

  • EU could regulate cryptocurrencies at the federal level

    February 28, 2018

    Summary: According to Reuters the European Union may be already prepared to regulate cryptocurrencies if other solutions are not found China continues clamping down on crypto trading targeting platforms allowing China-based investors to trade digital currencies on overseas markets Taiwan’s central bank is going to explore how blockchain could help…

  • Economic calendar: European inflation in the spotlight

    February 28, 2018

    Summary: Eurozone inflation data to be released in the morning US economy is expected to slow down in Q4 2017 Will DOE report provide support for oil prices after bullish API reading? Wednesday looks especially interesting for European investors as a gauge of inflation prints from EMU economies is scheduled…

  • JPY strengthens as BoJ cuts its JGBs purchases

    February 28, 2018

    Summary: Bank of Japan cuts to some extent its regular bond purchases, the yen recovers despite disappointing macroeconomic releases NZ business activity improves this month, it still remains vastly depressed though Chinese PMIs run of of steam in February, Asian stocks decline following a bleak day on Wall Street Looking…

  • USD jumps on consumer confidence and Powell; Stocks pullback

    February 27, 2018

    Summary: USD rising across the board as consumer confidence hits 18-year high Powell upbeat and positive in first testimony to Congress German inflation dips more than expected US stocks pull back from 3-week highs Mixed day in crypto with Iran considering launching its own cryptocurrency  It’s been a good day…

  • US consumer confidence hits highest since 2000

    February 27, 2018

    Summary: CB Consumer Confidence rises to 18-year high Print of 130.8 vs 126.2 exp and 125.4 prior USD rising across the board The confidence of consumers in the US has reached its highest level since 2000 according to the conference board index. The reading for the month of February came…

  • Upbeat Powell doesn’t rock the boat in pre-released text

    February 27, 2018

    Summary: Fed chair Powell’s opening remarks to Congress released Overall tone fairly positive with text contains no big surprises  "Sees further gradual rate hikes, outlook remains strong" The highly anticipated first testimony of new Fed chair Jerome Powell before Congress is less than an hour away and a pre-released text…

  • German inflation dips more than forecast but Euro remains a little higher

    February 27, 2018

    Summary: German flash CPI Y/Y: 1.4% vs 1.5% exp and 1.6% prior HICP Y/Y 1.2% vs 1.3% exp and 1.4% prior Euro remains slightly higher on the day The latest inflation figures from Germany have shown a slightly larger than expected drop, with both the flash CPI and HICP numbers coming…

  • CHF gains as investors stay cautious ahead of Powell’s testimony

    February 27, 2018

    Summary: European stocks give up early gains ahead of Powell’s testimony Iran is about to follow into Venezuela’s footsteps and launch its own cryptocurrency A pack of data from the US to be released in the afternoon Tuesday looks exceptionally interesting for the USD traders as we will not only…

  • US stocks at 3-week highs ahead of key Powell speech

    February 27, 2018

    Summary: The US500 has reached a 3-week high after gaining again yesterday The market has now recovered the majority of the declines from earlier this month  Fed chair Powell set to deliver first policy speech at 3PM; Indices, Gold and USD could all be highly sensitive to this event  The…

  • Iran could follow Venezuela and launch its own cryptocurrency

    February 27, 2018

    Summary: Iran is expected to take its cue from Venezuela and launch its own cryptocurrency aimed at bypassing possible US sanctions Ethereum tries to follow Bitcoin and it’s breaking a key technical resistance Blackrock warns crypto investors should be prepared for ’complete losses’, blockchain appears to be a promising technology…

  • Economic calendar: Important day for USD

    February 27, 2018

    Summary: Germany and Spain inflation figures to be released in the morning Jerome Powell testimony to Congress CB Consumer Confidence expected to show a pick-up Tuesday has been awaited by the investors as Jerome Powell is about to make his first major appearance as the head of the Federal Reserve.…

  • NZD heads lower post trade data, China’s stocks run out of steam

    February 27, 2018

    Summary: NZ dollar trades lower following a disappointing release on trade balance NZ finance minister seems to be not fretted about kiwi’s strength Chinese equities run out of steam ahead of the Powell’s testimony Early trading on Tuesday is bringing slight weakness of the New Zealand dollar in the aftermath…

  • Stocks extend their recovery; USD reverses early moves

    February 26, 2018

    Summary: Stocks build on recent gains to hit 3-week high DE30 technical overview USD reverses initial weakness  Putin: "Russia can’t be late to Blockchain race" Inflation and Powell to drive Gold prices US stocks ended last week on a positive note and this morning there has been further gains seen…

  • Greenback looks to recover from early weakness

    February 26, 2018

    Summary: USD recoups earlier losses Fed’s Bullard says US economy is looking very good Chicago PMI of 0.12 misses forecasts The US dollar had begun the trading week on the back foot with declines seen against many of its major peers but as the session has worn on, there has been…

  • US stocks at 3-week highs ahead of Wall Street open

    February 26, 2018

    Summary: US500 moves to highest level in 3 weeks Price now back near the daily highs seen before rapid drop Market has now recaptured the 61.8% fib of the decline   US stocks ended last week on a positive note and this morning there has been further gains seen in the…

  • Gold on the rise as USD shows weakness

    February 26, 2018

    Summary: Bitcoin is back below $10k European equities advance following upbeat Asian session Investors await Jerome Powell testimony in Congress this week As Monday’s economic calendar is almost empty we have not seen any hectic moves in the morning. In the afternoon we will get some data from the US…

  • Putin says Russia cannot be late in the blockchain race

    February 26, 2018

    Summary: Russian president Vladimir Putin claims that the country needs the blockchain technology and therefore cannot be late in the race Czechs are more willing to store value in cryptocurrencies than in euros Uzbekistan takes an important step as it’s going to legalize Bitcoin and support developers at the same…

  • Economic calendar: Jerome Powell expose

    February 26, 2018

    Summary: Luis de Guindos’ hearing for the ECB vice president in the afternoon Jerome Powell to testify in Congress on Tuesday and Thursday A pack of data from the US economy to be released this week Taking a look into macro calendar one can see that we do not have…

  • Dollar retreats, Asian stocks begin with gains

    February 26, 2018

    Summary: US dollar loses steam in early trading on Monday after having the brilliant past week, BoE’s Ramsden weighs in to an interest rate hike talks USDCAD failed to retain its last week gains after a solid inflation print, what’s next for the pair? Asian stock market trade broadly higher…

  • CAD jumps on inflation, SEK under pressure after minutes

    February 23, 2018

    Summary: CAD gains following upbeat inflation report US stocks pare weekly loss SEK dips after Riksbank’s minutes release Gold trades lower on the back of the USD strengthening Bitcoin is back above $10k mark Brent breaks above $66 As CAD was showing some weakness recently investors were awaiting Canadian inflation…

  • SEK dips on minutes release, investors await Canadian inflation

    February 23, 2018

    Summary: SEK dips following Riksbank’s minutes release Bitcoin returns above $10k mark CAD traders await inflation report Lack of top tier macro releases from Europe set early trading to be calm. Nevertheless, Canadian inflation report scheduled for the early afternoon may spur some volatility on the CAD tied FX pairs.…

  • Why Dash could join Coinbase this year?

    February 23, 2018

    Summary: Three reasons why Dash could join Coinbase as soon as this year Dash (DASH on xStation5) hovers around its key technical support UK Treasury launches investigation into cryptocurrencies and blockchain technology Everybody being immersed in cryptocurrencies well knows that Coinbase is placed among the largest exchanges in the world.…

  • Economic calendar: Big day for the Canadian dollar

    February 23, 2018

    Summary: Canadian inflation report seems to be the most important point to watch today Some central bank speakers (notably from the FED) on the calendar as well Oil rigs count release could influence the commodity price at the end of the week In early trading the Canadian dollar is among…

  • US dollar flexes its muscles as week comes to an end

    February 23, 2018

    Summary: US dollar gains against all its major peers in G10, being set for its second best week this year New Zealand retail sales beat forecasts but the kiwi remains on the back foot Japanese inflation increases above expectations being still well off the BoJ’s target though Looking back to…

  • Oil jumps on DOE draw; UK growth dissapoints

    February 22, 2018

    Summary: Oil hits 2-week high after unexpected DOE drawdown GBP slides after UK GDP disappoints  USDCAD hits 2-week high after Canadian retail sales Euro little changed after ECB minutes Technical overview of Gold  Bitcoin falls back to 10,000 The latest inventory figures from the department of energy have given the…

  • Oil pops higher on unexpected DOE drop

    February 22, 2018

    Summary: DOE inventories -1.6M vs 2.2M exp First decline in 4 weeks boosts the oil price Oil hits highest level in 2 weeks following surprise DOE drop The latest inventory figures from the department of energy have given the oil price a boost with Brent rallying to its highest level…

  • Large drop in Canadian retail sales sends USDCAD to 2-month high 

    February 22, 2018

    Summary: Canadian core retail sales m/m: -1.8% vs 0.1% exp  CAD sliding across the board post release USDCAD moves above D1 cloud and  200 day SMA The Canadian retail sales for December showed an unexpected decline, and offer further support to the idea that seasonal shopping habits are changing. The headline…

  • Euro little changed following ECB minutes

    February 22, 2018

    Summary: ECB members agreed a shift in forward guidance was premature Some of them preferred to drop the easing bias on QE Euro hovers close to a 1.23 handle, it could be still prone to move lower The account of the January’s meeting did not bring any new clues with…

  • Investors await ECB account, stocks under pressure

    February 22, 2018

    Summary: Preliminary UK GDP reading missed forecasts Bitcoin moves towards $10k mark Investors await ECB’s January meeting account After yesterday’s Fed minutes shoke the markets in the evening investors are getting ready for the Thursday’s release of the ECB’s counterpart. Japanese yen is the strongest currency within G10 basket after…

  • Venezuela raises money from its contentious crypto sale

    February 22, 2018

    Summary: According to Venezuelan president Nicolas Maduro his country has already raised as much as $735 million from its contentious crypto sale Iran changes its mind regarding Bitcoin, now it does not like the virtual currency Bangladesh is expected to tighten its grip on cryptocurrency usage Bitcoin has remained in…

  • Economic calendar: All eyes on ECB minutes

    February 22, 2018

    Summary: UK preliminary GDP print to take the stage in the morning Will ECB minutes show more hawkish attitude just like its Fed counterpart? Government report expected to show fourth weekly oil inventory build After a vast array of macro releases yesterday Thursday calendar looks interesting as well. First, German…

  • USD gains a foothold post FOMC minutes; China comes back

    February 22, 2018

    Summary: US dollar whipsawed by the Federal Reserve account of the January meeting Odds for the fourth rate hike this year grew a little as some FED members pointed to the likelihood of more hikes Wall Street ended the day with losses, China came back after its one-week long New…

  • GBP searching for direction; Attention turns to FOMC minutes

    February 21, 2018

    Summary: The GBP has recovered a little this afternoon after MPC inflation report hearings Sterling had earlier dropped after unemployment rate rose for 1st time in 2 years European PMIs drop but remain strong Gold falls back after respecting key long term resistance Oil.WTI technical overview ahead of inventory data FOMC…

  • GBP recovers as Carney says rate hike odds in line with data

    February 21, 2018

    Summary: GBP recovers from earlier declines on inflation report hearings The Pound had dropped on unexpected rise in unemployment Carney states market pricing for rate hikes inline with data The Pound has staged something of a comeback this afternoon after being the weakest currency in G10 around lunchtime following an…

  • Gold completes round trip from CPI data; Fed minutes in focus

    February 21, 2018

    Summary: Gold has drifted lower this week after respecting long term resistance Price is now back close to where it traded ahead of the US CPI release FOMC minutes tonight and risk sentiment 2 factors to keep an eye on A sharp move higher in Gold last week has bulls…

  • Markets await minutes, Scandinavian currencies advance

    February 21, 2018

    Summary: FOMC minutes may shake the markets in the evening European PMIs miss the expectations Stock markets in Europe remain under pressure Calm is the last word one can use when describing the Wednesday session. After a pack of data from the European economies was released in the morning another…

  • Fed and ECB minutes – what to expect?

    February 21, 2018

    Summary: EURUSD, DE30 at the crossroads ahead of the key events this week Investors will look for signs of future rates hikes from Fed ECB could be divided regarding exit policy Fed minutes (Wednesday, 7pm GMT) Minutes will reveal a discussion from the last meeting chaired by Janet Yellen. What…

  • Short-lived fall in Bitcoin? South Korea will support crypto trading

    February 21, 2018

    Summary: Bitcoin slides in early trading but it could offer a decent buying opportunity given a technical view South Korean authorities confirm the country’s government will support cryptocurrency trading BoE’s Carney argues Bitcoin has failed so far as a legitimate currency Admittedly, Bitcoin is losing some ground in early trading,…

  • Economic calendar: FOMC Minutes in the spotlight

    February 21, 2018

    Summary: A vast array of preliminary PMI readings to be released today UK central bankers will testify on inflation before Parliament’s Treasury Committee Release of the FOMC Minutes in the evening may shake markets After the lack of top-tier economic releases on Monday and Tuesday they seem to flood Wednesday’s…

  • AUD loses ground despite better wage data, Walmart tumbles

    February 21, 2018

    Summary: Australian dollar trades lower in the morning even as wage growth came in above forecasts Japanese vice finance minister deals a blow to the yen, it’s the weakest currency in G10 Dow Jones (US30 on xStation5) fell on Tuesday ending its six-day long winning streak, Walmart tumbled Taking a…

  • Stocks pare early declines; SEK slumps on inflation miss

    February 20, 2018

    Summary: Stock markets recover from early weakness  US500 turns positive on the day SEK falls lower as inflation declines Drop in GDT could weigh on NZD Cryptos rise further as Bitcoin tests trendline Some early weakness in stocks has subsided as the day wore on with most major indices in…

  • US stock markets re-open lower; US500 at pivotal level

    February 20, 2018

    Summary: US stock markets have re-opened after the long weekend in the red Coming days could prove pivotal for indices US500 in between EMAs and Fibs The US session has begun with stocks coming under some pressure this afternoon as traders return from their long weekend celebrating Presidents’ day. Last…

  • Chart of the week: Interest rates and S&P500

    February 20, 2018

    Summary: investors are worried about impact of higher interest rates on equities there is now clear-cut correlation between rates and equity returns impact of higher rates could depend on a broader context Only in the early 80’s a sharp rise in real bond yields had a clear negative impact on…

  • Bitcoin on the rise, USD back on its feet

    February 20, 2018

    Summary: SEK dips following inflation miss Bitcoin flirts with $11.5k European stocks pare early gains With economic calendar being almost empty Tuesday’s trading session is set to be calm. However, things may change in the afternoon as US stock markets will open after prolonged weekend. USD is the strongest currency…

  • CFTC encourages to report ’pump and dump’ crypto scams

    February 20, 2018

    Summary: CFTC is going to pay money for exposing ’pump and dump’ cryptocurrency scams Polish financial authorities paid influential youtubers for a campaign aimed at discouraging people from trading digital currencies  The government of Malta seeks to set up a special agency to clarify obscure cryptocurrency topics Over the course…

  • Economic calendar: Swedish inflation and German ZEW

    February 20, 2018

    Summary: SEK traders will pay close attention to the Swedish CPI print in the morning German ZEW print expected to show deterioration of moods A preliminary Eurozone consumer confidence print about to be release in the afternoon After a calm Monday in terms of macro releases came rather calm Tuesday.…

  • US dollar regains its ground, AUD higher post RBA minutes

    February 20, 2018

    Summary: US dollar gains ground in the morning, euro back below 1.24 once again Australian dollar tries to resist USD strength being slightly supported by RBA minutes Asian equities lower on the day as the US 10Y yield kicks off the new week several basis points higher US traders are…

  • Oil hits 2-week high; DE30 drops lower

    February 19, 2018

    Summary: Oil has built on its recent recovery to hit a 2-week high DE30 has drifted lower and recovery remains fragile Possible EURUSD long term driver identified  New ECB VP expected to be announced; EURJPY and EURTRY near key levels Crypto markets edge higher with Bitcoin moving above 11k One…

  • ECB set to announce new VP; Euro pulls back from 3-year high

    February 19, 2018

    Summary: De Guindos expected to be announced as ECB VP later today Could pave the way for Weidmann to be next President Euro drifting lower after hitting 3-year high against USD last week News that the Bank of Ireland’s Lane has pulled out of the race to be the new…

  • Oil hits 2-week high but is a larger reversal formation developing?

    February 19, 2018

    Summary: Oil edges to 2-week high above $65  Latest COT data shows long positions trimmed but remain elevated A longer term S-H-S formation could be developing  A recovery in risk appetite for stocks last week also helped the price of Oil with Brent crude snapping a 2-week losing streak and…

  • Oil gains while stocks remain on the back foot

    February 19, 2018

    Summary: Current account data may provide support to the EURUSD uptrend European stocks post minor declines following mixed opening Minutes from FOMC and EBC may turn to be real market movers this week Trading on Monday may turn to be a little muted as US stock markets will remain closed…

  • Who is a nocoiner in the cryptocurrency world?

    February 19, 2018

    Summary: So-called nocoiners could pose a real threat to cryptocurrencies; who are they and why do they matter? Stricter cryptocurrency regulations in India could encourage inhabitants to buy Bitcoins overseas Australian juice company to give Bitcoins to those who buy its products The new trading week has just kicked off…

  • Could USD rebound this week? Yen gives back its gains as NIKKEI surges

    February 19, 2018

    Summary: Safe haven currencies (CHF, JPY) give back some of their gains made during the last week, US dollar trade flat as new week gets underway Japanese NIKKEI (JAP225 on xStation5) begins the new trading week with a decent pick-up bouncing off the pivotal support Some second-tier macroeconomic releases from…

  • Stocks extend gains, euro ends the week on the back foot

    February 16, 2018

    Summary: US data smashes forecasts Benchmarks from Wall Street head for the biggest weekly gain in five years Euro underperforms against its G10 peers In the previous week equities on the global stock markets remained on the backfoot following recent slump. This week has shown a different picture. Benchmarks from…

  • UoM consumer sentiment way ahead of expectations

    February 16, 2018

    Summary: UoM consumer sentiment rises beating estimates by far Inflation expectations remain unchanged S&P 500 (US500 on xStation) falls after touching 61.8% retracement level University of Michigan’s data pack was the last relevant release scheduled for this week and it offered investors positive surprise by beating expectations significantly. The inflation…

  • US housing data smashes forecasts

    February 16, 2018

    Summary: Building permits beat estimates by a huge margin A significant increase in housing starts US Dollar Index (USDIDX on xStation5) fails to sink below previous low A pack of data from the US housing markets has been released recently. US housing market is doing exceptionally well as both building…

  • Stocks advance while GBP slides after data

    February 16, 2018

    Summary: UK retail sales print misses expectations European stocks head for the biggest weekly gain in over a year US data in the afternoon may spur increased volatility on USD tied FX pairs Friday’s afternoon on the markets is set to be calm as the most important piece of that…

  • Bitcoin backs away from above $10k, India tightens grip on cryptocurrencies

    February 16, 2018

    Summary: Bitcoin (BITCOIN on xStation5) has been unable to stay above $10k for longer thus far Indian banks tighten their grip on cryptocurrencies prohibiting use of credit cards in trading Several UK companies form cryptocurrency trade body aimed at improving industry standards The Bitcoin price has been able to breach…

  • Economic calendar: Will retail sales help the pound?

    February 16, 2018

    Summary: UK retail sales is the most important macroeconomic reading during the day US housing data and UoM reading worth attention as well Oil could struggle to end the week with a gain, oil rigs data ahead FX investors seem to slowly get used to seeing the US dollar falling…

  • NZ PMI bounces back, Kuroda wins another term in office

    February 16, 2018

    Summary: US dollar slides again in early trading, it seems to be set for the fifth daily decline in a row Haruhiko Kuroda has been elected for another term in office as BoJ governor Antipodean currencies grind higher, NZ supported by a bounce in manufacturing PMI The US dollar might…

  • Soft US data does little for the buck; Stocks look to continues recovery

    February 15, 2018

    Summary:  US Stocks add to recent recovery  What does the latest inflation figures mean for the markets? Industrial production M/M unexpectedly falls into negative territory ZAR surges as Zuma steps down Bitcoin breaks back above $9k The strong recovery seen following a swoon after Wednesday’s US data release has gained…

  • Industrial production unexpectedly declines; Precious metals on the verge of a breakout?

    February 15, 2018

    Summary: US industrial production falls in January -0.1% M/M vs 0.2% exp and 0.4% prior Strong reversal in Gold and Silver could lead to a break higher The recent data form the US has been a little concerning for the markets with inflation seemingly picking up and retail sales disappointing.…

  • Stocks to open higher after another inflation beat

    February 15, 2018

    Summary: US500 enjoying a steady move higher ahead of Wall Street open. >2700 PPI release supports CPI yesterday in beating forecasts Empire state manufacturing index disappoints The strong recovery seen following a swoon after Wednesday’s US data release has gained traction today with the US500 firmly higher ahead of the…

  • USD lower ahead of data, stocks continue to rally

    February 15, 2018

    Summary: ZAR gains following president’s resignation Bitcoin breaks above $9k Traders await pack of US data After yesterday’s market turmoil caused by the release of US inflation data Thursday is relatively calm. However, this may change in the afternoon as another macro figures from the US are due. Swiss franc…

  • S&P500, EURUSD and Gold analysis after inflation data 

    February 15, 2018

    Summary: US inflation surprised to the upside in the US EURUSD, US500 reversed initial reactions to the report Gold price is at the key resistance zone Inflation is now the main theme in the United States. Following years of economic recovery there’s a growing confidence that the US consumer is…

  • Bitcoin breaks above $9k, the highest level this month

    February 15, 2018

    Summary: Bitcoin (BITCOIN on xStation5) has finally broken above a crucial resistance at $9000 South Korea shows a bit softer stance in contrast to fears from the past weeks Iceland runs out of electricity supply due to heavy Bitcoin mining Bitcoin accelerated its uptrend during the yesterday’s session as it…

  • Economic calendar: A pack of data from the US

    February 15, 2018

    Summary: A pack of data from the US economy in the early afternoon Governor Olsen is about to deliver annual speech A vast array of central banks speakers due today Looking at the Thursday’s calendar one can notice an avalanche of data from the US scheduled for the early afternoon.…

  • JPY gains traction, Aussie jobs report somewhat disappointing

    February 15, 2018

    Summary: Japanese yen is again the strongest currency in G10 following (no) comments from finance minister Aso Australian labour market report turns out a bit disappointing as full-time employment misses the consensus Wall Street managed to recover yesterday following a brief inflation-driven decline, US yields surge Another day and the…

  • US data sees large swings in several markets; Crypto led higher by Litecoin

    February 14, 2018

    Summary: US CPI beats forecasts to remain inline; Retail sales turn negaitve Gold slumps before surging to weekly high; stocks recover initial weakness Oil looks to rise as DOE inventory increases less than forecast SEK wobbles after Riksbank decision Cryptocurrencies all moving higher with Litecoin leading the way It’s been…

  • DOE inventories rise less than expected; Oil attempts to rise

    February 14, 2018

    Summary: DOE inventories 1.8M vs 2.8M exp and 1.9M prior Last night’s API figures showed a build of 3.9M Oil price attempting to recover after hitting 2-month low yesterday A smaller than expected rise in the weekly DOE inventories has seen the price of Oil move higher this afternoon as…

  • US inflation beats forecasts to send stocks sharply lower

    February 14, 2018

    Summary: US CPI 2.1% Y/Y vs 1.9% exp Core reading also beats coming in at 1.8% vs 1.7% exp US indices and Gold plummet as yields spike higher Given the recent moves in the markets today’s US data had the potential to cause some high volatility and it didn’t disappoint. The…

  • US inflation data ahead, stocks in Europe move higher

    February 14, 2018

    Summary: Riksbank lowers inflation projections US inflation figures to be released in the afternoon European stocks resume recovery Today is the long-awaited day as the US inflation figures are scheduled for release. Moreover, DOE report will be published in the evening thus increased volatility on oil may surface. Stock markets…

  • Bitcoin grinds higher before blockchain talks in the US House

    February 14, 2018

    Summary: Bitcoin moves higher in the morning ahead of a discussion about blockchain in the US House of Representatives Americans evade taxation on their cryptocurrency transactions according to Credit Karma Tax Russia prepares a bill aimed at accrediting issuers of initial coin offerings (ICOs) Wednesday could be a big day…

  • Economic calendar: Riksbank and US inflation

    February 14, 2018

    Summary: Riksbank will make its interest rate decision in the morning US inflation and retail sales figures to take the spotlight in the early afternoon Will DOE report confirm major build in inventories suggested by API? The long-awaited day is here. Looking at Wednesday calendar we can see a vast…

  • Japanese GDP misses forecasts, JPY surges again

    February 14, 2018

    Summary: Japanese GDP missed the consensus in the fourth quarter of 2017, details mixed JPY gains momentum the second day in a row, the country’s Ministry of Finance weighs in API reports a higher than expected build in stocks, oil prices trade flat in the mornings The Japanese currency has…

  • US inflation data to drive markets going forward

    February 13, 2018

    Markets have grown increasingly sensitive to rising concerns of inflationary pressures in the US in recent trade and tomorrow’s US CPI could be a major mover for indices, FX and commodities. Will a higher than expected print see more weakness in the US500? What are the key levels and technical…

  • JPY the best performer in G10 as JAP225 hits 4-month low

    February 13, 2018

    Summary: Japanese Yen rising across the board Risk-off flows see increased appetite for JPY as JAP225 hits 4-month low  USDJPY, EURJPY and GBPJPY all at interesting levels A look across the FX space today reveals that the Japanese Yen is in vogue with the currency the best performer in G10…

  • Data supports GBP, stocks retreat

    February 13, 2018

    Summary: UK headline inflation remains unchanged European stocks fall under pressure Bitcoin retreats towards $8500 mark Tuesday’s trading lookss calm overall yet we have seen some interesting moves already. Yen is the strongest currency among G10 group after strengthening suddenly in the second half of Asian session. On the other…

  • Noteworthy remarks from CEO of a leading cryptocurrency exchange

    February 13, 2018

    Summary: Bitcoin (BITCOIN on xStation5) seems to be getting back to losses as it failed to stay within an ascending channel Jesse Powell, CEO of Kraken cryptocurrency exchange, expresses several noteworthy remarks as for investing in digital coins Bitcoin could plunge even to $900 according to Bloomberg commodity strategist Iceland’s…

  • Economic calendar: UK inflation in the spotlight

    February 13, 2018

    Summary: UK inflation figures to take the spotlight in the morning Oil traders will focus on the weekly API report Preliminary GDP print from Japan scheduled for release overnight In Tuesday’s calendar we have some interesting readings planned. At first, inflation figures from the UK economy will be published giving…

  • Wall Street gains second day in a row, USD gets back to losses

    February 13, 2018

    Summary: US stock markets gained on Monday for the second session in a row after the ugly past week Asian equities perform quite well except for Japan, JPY benefits from the lower NIKKEI (JAP225 on xStation5) Australian dollar trades broadly flat despite upbeat soft indicators After the tumultuous week the…

  • Stocks look to recover; Commodities and Cryptos gain

    February 12, 2018

    Summary: Stock markets make a bright start to the week  DE30 rebounds from support zone Oil also looking to recover but gains fade as the session wears on Latest CFTC data reveals interesting developments Bitcoin adds to recent gains despite Chinese headline  Late on in Friday’s session, US markets staged an…

  • Equities recover, commodities advance

    February 12, 2018

    Summary: Stock markets in Europe recover after recent slump Bitcoin posts gains at the beginning of the week US and UK inflation figures in this week’s calendar In terms of macroeconomic releases Monday is calm as usual. Stock markets in Asia and Europe halt declines at the beginning of the…

  • USD lower, stocks rebound worldwide as week gets underway

    February 12, 2018

    Summary: US dollar loses steam at the beginning of the new trading week, a technical point of view could be more upbeat though Asian markets bounce back following the bleak end of the past week US futures trade in a positive territory, Treasury futures drop on the day We have…

  • Oil and Stocks under pressure heading into the weekend

    February 9, 2018

    Summary: Global stocks under pressure at the end of a bad week Oil also falling lower with Oil.WTI back below $60 NOK falls further as core inflation misses Sharp reversal in CAD after latest jobs data Ripple the pick of the crypto markets Monday’s sharp drop in stocks will be…

  • OIL.WTI falls below $60 and set for 8%+ weekly decline

    February 9, 2018

    Summary: Oil.WTI falls below $60 a barrel for 1st time in 6 weeks Market set for a decline in excess of 8% on the week Price could be set to fall back to $55 level Its been a bad week for crude bulls with Oil.WTI and Brent Oil both experiencing…

  • Sharp reversal in CAD after latest jobs data

    February 9, 2018

    Summary: Canadian employment change -88k vs +10.3k exp Solid rise in full time roles however: +49k Canadian dollar drops sharply before recovering The Canadian jobs data has just been released, with the announcement causing some wild swings in the Canadian dollar which first dropped sharply before recovering the entire fall…

  • Stocks under pressure, NOK underperforms after data

    February 9, 2018

    Summary: Norwegian krone under pressure after disappointing inflation data Sell-off stormed US and Asian stock markets Canadian labour market figures to be released in the early afternoon After rout on the US stock market resumed yesterday Asian equities plunged during the last trading session of the week. European benchmarks fall…

  • Bitcoin mining could lead to… construction disasters

    February 9, 2018

    Summary: Bitcoin mining is believed to be a reason behind huge fire in block of flats in Russia Hedge fund CEO says Bitcoin will resume an uptrend in the next couple of weeks Cryptocurrency-related jobs in India bloom despite the country’s stance on Bitcoin Over the course of the past…

  • Economic calendar: An important data for CAD traders

    February 9, 2018

    Summary: Industrial production figures from the European countries in the morning Data from the Canadian labour market scheduled for the early afternoon Norwegian CPI misses expectations heavily In Friday’s calendar we do not have many important macroeconomic readings scheduled for release.Throughout the morning industrial production data from European economies is…

  • Asian stocks end week with enormous decline

    February 9, 2018

    Summary: Major US indices tumbled roughly 4% on Thursday, Asian investors followed Chinese inflation matched forecasts being well below the PBoC target though RBA’s statement on monetary policy suggests too strong AUD could be a snag The final session in Asia did not bring long-awaited relief as major equity markets…

  • Recovery in stocks faces a test; US yields rise once more

    February 8, 2018

    Summary: Stocks sell into European close as recovery faces 1st real test Rise in US yields could weigh on stocks again and also Gold Technical overview of Gold  GBP gains as BoE signals higher rates Will crypto markets hit $1 trillion this year? The strong bounce seen in stock indices…

  • US yields rise back near 4-year highs; Gold set for move lower?

    February 8, 2018

    Summary: The Tnote has fallen back near a multi-year low Rising yields could be seen to weigh on Gold Gold back to flat for the year and technicals could be turning lower Yields have gained a lot of coverage over the past week with the rise in fixed income returns seen of…

  • US stocks not out the woods yet; Twitter follows SNAP’s lead to surge after earnings

    February 8, 2018

    Summary: US500 trading in a narrow range ahead of US session Twitter called to open sharply higher after posting 1st ever profit Could SNAP follow Facebook’s lead? Looking at the US markets ahead of their cash session one can see that so far today has seen some small gains after Wednesday…

  • GBP advances ahead of BoE, stocks under pressure

    February 8, 2018

    Summary: European benchmarks resumed downward move Bitcoin continue to rise on the back of yesterday’s Senate testimonies Bank of England is about to announce its interest rate decision at noon After brief recovery US and European equities came under pressure once again. GBP strengthens ahead of the BoE meeting and…

  • Will cryptocurrency market hit $1 trillion this year?

    February 8, 2018

    Summary: Crypto pundits foreshadow the whole digital currency market could hit $1 trillion this year Wells Fargo underlines positive correlation between Bitcoin and the stock market Canadian regulator calls Google to follow Facebook and ban cryptocurrency ads and suchlike products Bitcoin continued climbing over the past several hours being propped…

  • Economic calendar: All eyes on BoE inflation report

    February 8, 2018

    Summary: BoE interest rate decision and inflation report to take the spotlight at noon Data from the Canadian housing market scheduled for early afternoon USD traders will watch for the weekly US labour market figures In terms of macroeconomic releases Thursday’s calendar looks quite empty. However, we have a few…

  • NZD slides post RBNZ; China reports huge miss in trade balance

    February 8, 2018

    Summary: NZ dollar continues sliding following the RBNZ meeting, in line with our expectations China reports a tremendous miss in the trade data for January as the Lunar New Year weighed on US Senate reaches a long-awaited bilateral agreement providing funding over the next two years The RBNZ meeting was…

  • Oil drops after data; Stocks look to recover

    February 7, 2018

    Summary: Brent Oil turns red on the year after US inventories and production both rise Technical overview Oil.WTI US stocks build on yesterday’s gains Wall Street earnings season at midpoint Bitcoin recaptures 8000 level RBNZ rate decision at 8PM  The Oil price has taken a turn for the worse this…

  • Oil falls into the red on the year as inventories and production rise

    February 7, 2018

    Summary: Oil declines following latest inventory data DOE release showed build of 1.9M and US production eclipses Saudis  Crude price lower on the year The Oil price has taken a turn for the worse this afternoon after the latest economic data showed a rise in the DOE inventories whilst US production overtook that of…

  • Technical overview: OIL.WTI

    February 7, 2018

    Summary: Oil market lacks bullish factors, a corrective pullback occurs in the aftermath $62 seems to be a key support level for WTI prices (OIL.WTI on xStation5) Based on the Elliot wave theory the ongoing rally is still short of yet one leg to the upside Oil prices were a…

  • Can Bulls extend recent recovery in stocks; SNAP soars on jump in revenue

    February 7, 2018

    Summary: US stocks rose on Tuesday after strong recent declines US500 has now recovered around half of the drop Earnings season in full swing but on the back burner for now Tuesday’s session marked a decent comeback for US stock as the pandemonium from the start of the week subsided and…

  • Stocks recover, oil prices under pressure ahead of DOE

    February 7, 2018

    Summary: Stock markets rebound after recent slump Bitcoin makes his way back above $8000 mark DOE report and RBNZ meeting stealing investors’ attention After a heavy selloff that has stormed stock markets in the previous days equities get second breath. The upbeat moods can be seen on the European stock markets.…

  • Bitcoin gains a foothold on CFTC, SEC testimonies

    February 7, 2018

    Summary: Heads of CFTC and SEC testified ahead of the Senate Banking Committee, their views were not so adverse for digital currencies Australian biggest banks rule out prohibition of Bitcoin buying transactions Singaporean deputy PM sees no a strong reason to ban virtual currency trading As per our analysis we…

  • Economic calendar: DOE and RBNZ in the spotlight

    February 7, 2018

    Summary: Data from the UK and Canadian housing market to be released today Oil traders’ attention on DOE after yesterday’s API showing a drop in inventories RBNZ meeting and post-meeting conference in the evening In wednesday’s macro calendar we have some interesting readings and events planned. In the morning hours…

  • Wall Street rebounds, NZD pares gains following jobs report

    February 7, 2018

    Summary: US major indices made decent gains yesterday erasing some of incurred losses the day before NZ dollar pares all its gains it made following the rosy labour market report, RBNZ meeting looms API reports the second draw of oil stocks in a row, both grades of crude are trading…

  • Stocks lick their wounds after major declines

    February 6, 2018

    Summary: Stock markets look for support after strong sell-off What next for the US30, US500 and DE30 USDCAD pulls back from 3-week high post trade data   NZD on the rise ahead of jobs release Bitcoin attempts to rally after more declines Monday saw stock markets around the globe plummet with the US30…

  • GDT shows 2nd consecutive strong rise; NZD on the rise ahead of jobs data

    February 6, 2018

    Summary: GDT auction result: +5.9% Second consecutive large rise for the milk benchmark NZD gaining across the board ahead of employment data (9:45 pm GMT)  The fortnightly GDT auction has concluded and the results have shown another large increase in the global milk benchmark. The latest result was an increase…

  • USDCAD hits 3-week high following trade data

    February 6, 2018

    Summary: US Trade balance falls to -53.1B vs -52.1B exp Canadian equivalent shows -3.2B vs -2.3B exp USDCAD adds to recent gains and moves close to prior resistance 1.2590 It’s a relatively quiet afternoon ahead on the data front from north America with the recent release of trade data from…

  • Stock markets plunge, Bitcoin declines severely

    February 6, 2018

    Summary: Global stock markets have been hit by a massive wave of selling Bitcoin plunged below $6000 mark before rebounding NZ jobs report to draw investors’ attention in the evening Taking a look at Tuesday’s macro calendar one could say it is going to be a boring day. However, taking…

  • 3 major indices after Black Monday

    February 6, 2018

    Summary: Equities plunged on Monday as bond yields soared Investors are undecided on Tuesday, recovery is just partial We take a look at charts of US30, US500 and DE30 Monday brought a panic sell-off on Wall Street that saw the Dow plunging by over 6% at the lowest point and closing…

  • US stocks post largest ever daily drop; More downside ahead?

    February 6, 2018

    Monday saw stock markets around the globe plummet with the US30 recording its largest ever daily decline after falling more than 1000 points on the day. Will there be further weakness ahead or does this represent a potentially good buying opportunity?  Watch our video below:    

  • Bitcoin jumps up and down, BIS calls for clampdown on BTC

    February 6, 2018

    Summary: Bitcoin (BITCOIN on xStation5) falls below a $6k mark and bounces up out of the blue Bank for International Settlements calls on central banks to clap down on cryptocurrencies Deutsche Bank advises against buying digital currencies as risks are too high Monday was the ugly day not only for…

  • Economic calendar: All eyes on New Zealand jobs report

    February 6, 2018

    Summary: New Zealand jobs report is slated to be the most important release during the day API is going to offer its weekly change of crude stocks, oil could find itself under pressure US trade data the sole reading worth watching this afternoon While everybody freaks out because of remarkable…

  • Global equity rout gathers momentum, AUD feels the pain

    February 6, 2018

    Summary: Wall Street plummeted on Monday, Dow Jones (US30 on xStation5) had the worst session ever Asian stock markets follow their US counterparts, NIKKEI (JAP225) and Hang Seng (CHNComp) fall almost 5% AUD lower on a risk-off mode, weaker macroeconomic releases and the RBA meeting There is no doubt that…

  • Stocks remain under pressure; USD gains on ISM beat

    February 5, 2018

    Summary: Stock markets drift lower after last week’s selling USD looking to build on last week’s gains; Aided by ISM beat Technical overview for DE30 Oil threatens to join stocks in turning lower GBP also in decline after services PMI miss Bitcoin takes out last week’s low and falls to…

  • ISM smashes forecasts; USD looking to add to recent gains

    February 5, 2018

    Summary: ISM non-manufacturing PMI 59.9 vs 56.5 exp and 55.9 prior Employment reading 61.6 vs 56.3 (highest since 1997) USD looking to build on recent gains The main economic release of the afternoon has come in better than expected with the latest survey on the US services sector impressing. An…

  • Is Oil set to correct lower?

    February 5, 2018

    Summary: Large sell-off on Friday could signal turning point for Oil markets Price has been consolidating for several weeks near 3-year highs Spec longs trim position but still extremely high The strong moves lower in stock indices at the end of last week have threatened to sour risk sentiment in…

  • Technical overview: DAX30

    February 5, 2018

    Summary: German stock market suggests a possibly deeper sell-off worldwide DAX30 (DE30 on xStation5) draws an irregular correction with a potential target at 12240 points There are several important technical levels which deserve more attention The global sell-off seen across equity markets gathered momentum following the severe plunge seen on…

  • Stocks and Bitcoin plummet, JPY advances

    February 5, 2018

    Summary: UK services PMI misses forecasts Bitcoin resumes selloff Pessimism on the global stock markets prevails Global stock markets launched the week on the back foot as continuation of declines can be seen in Asia and Europe. Japanese yen is a top mover in the FX market while the GBP…

  • Bitcoin continues dropping, Lloyds Bank bans BTC purchases

    February 5, 2018

    Summary: Bitcoin (BITCOIN on xStation5) continues its decline being traded markedly below $7800 again Lloyds Bank prohibits its clients from buying Bitcoin and other virtual coins on their credit cards US Treasury Secretary Mnuchin urges for cryptocurrency regulatory talks at G10 summit After the abrupt rebound which came out of…

  • Economic calendar: Will Bank of England hurt the pound?

    February 5, 2018

    Summary: A range of services PMI prints scheduled for release today UK and Antipodean central banks to hold their meetings this week Important labour market data from Canada to be released on Friday Taking a look at the Monday’s economic calendar we can see a wide range of the services…

  • Tiny moves across FX, Asian stocks tumble following Wall Street

    February 5, 2018

    Summary: Major currency pairs remain steady as the new trading week gets underway Australian services PMIs turn out to be mixed just ahead of the RBA meeting Equity markets in Japan and Australia plunge due to the sell-off on Wall Street and the global bond market rout Beginning with the…

  • NFP offers hope for USD recovery; Stocks look to end bad week on the lows

    February 2, 2018

    Summary: NFP employment change comes in better than expected at 200k Other US data also support USD which looks to break 6-week losing streak Precious metals tumble with large selling in Silver and Gold DE30 has worst week in more than a year; falls below 12800 Bitcoin tumbles alongside other…

  • More solid US data sees precious metals drop sharply

    February 2, 2018

    Summary: UoM beats forecasts to rise to 95.7 Factory orders also surpass expectations Gold (-1.5%) and Silver (-2.5%) experiencing large selling with declines on the day The final US economic data of the week has provided further good news for the US dollar with an increase in both sentiment and…

  • Strong NFP beats forecasts; USD attempts to rally

    February 2, 2018

    Summary: NFP employment change: 200k vs 181k exp and 148k prior Average earnings beat forecasts  USD moving higher with USDJPY back above 110 The eagerly anticipated US NFP report has come in better than expected with a strong headline print and above forecast wage figures. The headline reading showed 200k…

  • USD recovers ahead of NFP, Bitcoin plummets

    February 2, 2018

    Summary: Bitcoin dips below $8k mark UK Construction PMI nears contraction area NFP report to take the spotlight in the afternoon European benchmarks underperform severely on Friday as most of the major benchmarks post declines exceeding 1%. USD is the strongest currency in the G10 basket ahead of the NFP…

  • Bitcoin tumbles as both Japan and India step up scrutiny

    February 2, 2018

    Summary: Japanese authorities raid the hacked cryptocurrency exchange Coincheck India takes a step aimed at eliminating the use of cryptocurrencies in ’illegitimate’ activities Goldman Sachs CEO Lloyd Blankfein denies the bank is going to open a crypto trading desk After a relatively calm second half of January Bitcoin and other…

  • Economic calendar: What to watch beyond payrolls?

    February 2, 2018

    Summary: US employment report is expected to steal the show during today’s session UK construction PMI among the most important readings before noon Oil rigs count might be the crucial data for oil prices at the end of the week As every first Friday in a month all eyes are…

  • USD slightly higher as week comes to an end, BTC slumps

    February 2, 2018

    Summary: US dollar tries to wipe off its losses but EURUSD nears a 1.25 handle anyway Bank of Japan offers to buy unlimited amounts of 10Y JGB’s at 0.11%, USDJPY bounces back from a key support Bitcoin plunges below $8500 on increased scrutiny in Japan This Friday is the most…

  • Stocks and USD under pressure ahead of NFP

    February 1, 2018

    Summary: Stocks under pressure with DE30 falling below 13000 US30 moves to weekly low before Facebook rallies after earnings beat  USD drifting lower despite ISM beat GBP rise pauses as manufacturing dips Technical overview of Oil.WTI There’s been a strong sell-off seen today in stock indices with the DE30 tumbling…

  • Stock indices hit by wave of selling; Buying opportunity or more downside ahead?

    February 1, 2018

    There’s been a strong sell-off seen today in stock indices with the DE30 tumbling more than 300 points to fall back below the 13,000 handle. The declines haven’t been confined to Europe, with weakness also seen across the Atlantic as the US30 has fallen back to the psychological level of…

  • ISM beats forecasts but USD drifting lower

    February 1, 2018

    Summary: ISM manufacturing 59.1 vs 58.7 exp and 59.7 prior 17 consecutive months of expansion (50+) for this indicator USDJPY threatening to move lower once more  Whilst tomorrow’s NFP will likely steal the limelight this week for USD related events, this afternoon has seen the latest manufacturing sentiment release beat…

  • US stocks to open under pressure; Facebook to rise post-earnings

    February 1, 2018

    Summary: US stocks to begin lower as DE30 hits 4-week low US30 breaks potential neckline in S-H-S formation Facebook called to open higher after record earnings Stock market bulls have faced a chastening few days with some strong declines this week. The sell-off has gathered momentum in Europe today with the…

  • Euro shows strength, oil prices rise ignoring DOE report

    February 1, 2018

    Summary: UK manufacturing PMI slows down but GBP remains unimpressed Optimism returns to the global stock markets Bitcoin plummets well below $10k mark European stock markets kicked off Thursday with solid gains. However, as the time flies they are being erased. A vast array of manufacturing PMI prints is scheduled…

  • Bitcoin capitalization evaporates in January at break-neck pace

    February 1, 2018

    Summary: The most famous cryptocurrency witnesses its largest loss in terms of capitalization in history Bitcoin (BITCOIN on xStation5) may be heading lower taking into account a technical analysis Kodak postpones KodakCoin ICO citing the ’blurred future’, shares tumble The first month of 2018 already came to an end so…

  • Economic calendar: The day of manufacturing PMIs

    February 1, 2018

    Summary: Manufacturing PMI prints from European economies to be released in the morning USD traders may want to watch for jobless claims print ahead of NFP US Manufacturing ISM reading in the afternoon Today’s calendar is flooded with the readings from manufacturing sectors all over the world. January PMI prints…

  • FED doesn’t rock markets, AUD lower following domestic data

    February 1, 2018

    Summary: Federal Reserve leaves rates unchanged as expected adding a subtle change to the statement US dollar is broadly unmoved after the decision, Wall Street makes a quick move up and down Australian dollar lower in early trading on disappointing housing and PMI readings In line with market anticipations the…

  • NZD soars while USD deepens declines

    January 31, 2018

    Summary: EMU inflation slows down Bitcoin trades in the vicinity of $10k mark DOE report and FOMC meeting in the spotlight European benchmarks erased part of its initial gains, however they still remain in green. New Zealand dollar is the strongest currency amid G10 basket while the US dollar is…

  • Bitcoin moves below $10k as Facebook bans crypto adds

    January 31, 2018

    Summary: Bitcoin (BITCOIN on xStation5) declines following a Facebook ban on ads promoting cryptocurrencies German regulator orders Berlin-based digital currency exchange to stop doing as a financial broker Samsung is reportedly manufacturing the ASIC chip designed to mine cryptocurrencies Bitcoin finally slipped below a magic $10k mark yesterday afternoon fuelled…

  • Economic calendar: An avalanche of data for EURUSD traders

    January 31, 2018

    Summary: Important figures concerning German and Eurozone’s labour market to be released in the morning A pack of data from the US and last Yellen’s FOMC meeting Official government report on oil inventories will take the stage in the evening Taking a look at the Wednesday’s calendar one can spot…

  • AUD lower on softer data; Trump doesn’t help USD, Wall Street

    January 31, 2018

    Summary: Australian dollar is relatively weak following domestic and foreign macroeconomic readings Trump focuses on infrastructure, abstains from commenting trade issues BoJ’s summary of opinions suggests a possible change in rhetoric if the economy continues its expansion In spite of the fact that the US dollar is again the weakest…

  • Stocks threaten a pullback; Focus shifts to Trump speech

    January 30, 2018

    Summary: US500 experiences sizable drop of 60 points in last 2 days DE30 and UK100 also under pressure Lower German inflation weighs on the Euro  Bitcoin moves back down to 10k level Trump’s State of the Union speech in focus overnight It’s been another down day for stock markets, with…

  • US stocks open under pressure; Apple falls ahead of earnings

    January 30, 2018

    Summary: Red open for Wall Street  US500 now almost 60 points of Friday’s high Apple falls ahead of earnings release on Thursday after the bell US stocks have began their cash session trading lower after a fairly notable decline was seen during Monday’s session. The US session yesterday was the worst…

  • Euro shaky on the inflation miss

    January 30, 2018

    Summary: Flash inflation in Germany misses forecasts EMU GDP data confirm robust growth Business surveys in Italy below expectations EURUSD inches down but trend remains bullish Tuesday is important in terms of data releases from the EMU as we had reports on Q4 GDP for the block and flash inflation…

  • Stocks decline, USD on the back foot ahead of “State of the Union” speech

    January 30, 2018

    Summary: USD under pressure ahead of Donald Trump’s speech German CPI print ahead Rally on the stock markets ease European equities follow into their US and Asian peers posting declines on Tuesday. US dollar slides being the weakest currency in the G10 basket. Markets await the first president Trump “State…

  • Will Trump move the markets?

    January 30, 2018

    Summary: State of the Union speech is one of the major events this week Trump is set to speak on immigration, infrastructure plan, could address US dollar US500 at the crossroads, EURUSD defends 1.23 This week is full of important events in the United States - FOMC, payrolls report, ADP…

  • How to forecast future Bitcoin moves?

    January 30, 2018

    Summary: Bitcoin (BITCOIN on xStation5) could be no longer used in payments which may lead to a harsh end of the cryptocurrency Triangle pattern seen in Bitcoin, a possible breakout might commence a larger move Google Trends app seems to be a perfect tool to forecast where the Bitcoin price…

  • Economic calendar: A pack of data from Europe

    January 30, 2018

    Summary: Preliminary GDP and CPI prints from Europe in the morning CB Consumer Confidence reading to be released in the afternoon Oil traders may want to stay cautious in the evening as weekly API report will be published Taking a look at the Tuesday’s economic calendar one can spot a…

  • Yen higher following data, Pound slides on Brexit talks dispute

    January 30, 2018

    Summary: Japanese yen leads the gains in G10 following quite a mixed package of the data UK PM May faces a new dilemma as EU Barnier says "UK would have to abide by all existing and new laws for a period of almost 2 years after leaving" AUD loses steam…

  • Will a pullback in GBP boost UK stocks?

    January 29, 2018

    Summary: GBP dropping lower after strong recent gains UK100 held support above prior breakout zone (7600) last week  A further pullback in the Pound could boost UK equities The pound is one of the worst performing currencies in the G10 space today, with sterling sliding against all its major peers.…

  • US inflation rises as expected; US stocks set for record open

    January 29, 2018

    Summary: Core PCE price index M/M: +0.2% vs +0.2% exp and 0.1% prior US500 at record level for Wall Street open Less value in US stocks than at peak of .com bubble The US dollar has had a torrid time of it of late, sliding across the board after last…

  • USD recovers, oil prices retreat

    January 29, 2018

    Summary: Bitcoin resumes its downtrend USD recovers being the strongest G10 currency Mixed trading session in Europe Monday lacks important macroeconomic releases therefore the trading in the morning was rather calm. The greenback manage to pare some of its recent losses and is the strongest currency amid G10 basket. The…

  • CAD falls as inflation drops more than expected

    January 26, 2018

    Summary: Canadian CPI M/M drops by 0.4%  Bigger decline than expected (-0.3%) and prior (+0.3%)  CAD falling lower against all peers other than USD The latest inflation data from Canada has shown a larger than expected drop and may weigh on the mind of the BoC when deciding upon any…

  • US growth slows in Q4 but USD looks to bounce

    January 26, 2018

    Summary: US GDP for Q4 misses forecast but sub-components more upbeat Durable hoods orders beat forecasts USD moves of its lows after a tough week The US economy missed consensus growth forecasts for the final quarter of 2017 according to the first estimate, but a better than expected set of durable…

  • Technical overview: GOLD

    January 26, 2018

    Summary: Weak US dollar supports gold prices and other commodities. Will Trump strengthen the greenback? $1345 remains the key support if bulls want to sustain the ongoing rally Is a pullback toward $1300 possible? Gold prices continue marching higher reaching the highest levels since July 2016 mainly on the back…

  • Bitcoin resumes downtrend, UK to scrutinize use of Bitcoin

    January 26, 2018

    Summary: Theresa May’s administration is going to delve into the use of cryptocurrencies as they could be used by criminals Bitcoin (BITCOIN on xStation5) resumes its downtrend after rebounding from a key resistance line 50 Cent, the US rapper, recalls he has Bitcoins worth up to $8 million Australian airport…

  • Economic calendar: Interesting day for USDCAD

    January 26, 2018

    Summary: Preliminary UK and US GDP prints to be released today Canadian inflation figures in the spotlight Several central banks speakers to deliver speeches in Davos The end of the week is marked by the preliminary releases of the GDP figures. Firstly, a reading for the UK economy will be…

  • Japanese inflation still warrants monetary easing

    January 26, 2018

    Summary: Japan’s inflation misses forecasts being a reason why monetary policy will not be tightened any time soon Greenback’s rout continues in early trading, USDJPY getting closer key technical levels Chinese equity market soars despite listless moods across the pond Being several hours after the ECB press conference one may…

  • Draghi sends EURUSD surging and sinks the DE30

    January 25, 2018

    Summary: A failure to talk-down the single currency has sent the EURUSD to 1.25 DE30 tumbles, falling around 300 points in the last 24 hours Mixed Canadian data leaves little lasting impression on CAD NOK edges higher on Norges Bank announcement Nordea follows JPM in banning employee crypto trading  The…

  • Euro and yields soar whilst stocks slump on Draghi

    January 25, 2018

    Summary: Draghi fails to talk down the Euro EURUSD breaches 1.25 to post new 3-year high Bund yields hit highest level since 2015; DE30 threatening to fall lower The earlier decision by the ECB to stand pat and keep rates unchanged was almost unanimously expected, with the press conference with…

  • Oil extends gains, investors wait for ECB

    January 25, 2018

    Summary: New Zealand’s inflation slows down Investors await ECB meeting and post-meeting conference USD deepens declines The long-awaited day has come. ECB’s first meeting of the year looks promising given recent strength of the single currency as well as more hawkish attitude of some central bankers. European are trading mixed…

  • Nordea follows JPM and bans its employees from trading Bitcoin

    January 25, 2018

    Summary: Scandinavian Nordea bank announces a ban for its employees to invest and trade Bitcoin (BITCOIN on xStation5) Largest Australian gold refiner plans to issue gold-backed cryptocurrency South Korea finally releases official guidelines for digital currency exchanges and banks Bitcoin has been moving up over the course of the recent…

  • Economic calendar: ECB in the spotlight

    January 25, 2018

    Summary: ECB and Norges Bank about to hold their meetings today German IFO Business Climate to take the stage in the morning Pack of US and Canadian data in the afternoon A long-awaited day one the markets has come. Today’s main event is unquestionably ECB meeting or more precisely press…

  • NZ inflation disappoints, NZD pushes higher as USD plummets

    January 25, 2018

    Summary: New Zealand’s inflation misses forecasts remarkably making a rate hikes yet more distant Some changes to NZ labour market policy "designed to lift wages" US dollar continues plummeting, commodities strengthen, stocks lose some steam It was a bit of shock when the NZ inflation report was released sending the…

  • Greenback gets crushed; Oil fades post DOE spike

    January 24, 2018

    Summary: USD hit with a strong wave of selling after Mnuchin comments Slightly soft data does little to help stop the sell-off Oil spikes higher as DOE shows 10th consecutive drawdown before falling back Fed chair expresses his view on blockchain and Bitcoin Preview for ECB meeting tomorrow at 12:45PM…

  • EURUSD hits 3-year high above 1.24 ahead of ECB

    January 24, 2018

    The EURUSD has surged higher today to trade at levels not seen since December 2014 whilst the DE30 has pulled back after making an all-time high on Tuesday. Tomorrow’s ECB meeting presents a potentially major event for both the Euro and the DE30. How will they react? Watch our short…

  • USD sell-off gathers momentum;  USDCAD breaking out ahead of data?

    January 24, 2018

    Summary: USD falls to its lowest level since Dec 2014 Comments from Mnuchin and Ross weigh on the Buck GBPUSD hits 1.42; USDCAD looks to break lower We earlier noted that the US Dollar was coming under some selling pressure and this has grown throughout the day with some large…

  • 4 key questions ahead of the ECB

    January 24, 2018

    Summary: The ECB meeting on Thursday can have a major impact on EURUSD Draghi may try to curb euro strength but markets are sceptical EURUSD is in a bullish mode, nearest support at 1.2215 The key post meeting conference begins 1:30pm GMT The ECB meeting is the most awaited market…

  • New Fed chair expresses his views on blockchain and Bitcoin

    January 24, 2018

    Summary: New Federal Reserve chair sees a possibility of a blockchain introduction into the US financial system, some doubts when it comes to Bitcoin though South Korean card companies work on blocking payments to overseas cryptocurrency exchanges Japanese yen emerges as the most traded national currency for Bitcoin Bitcoin has…

  • Economic calendar: DOE in the spotlight after yesterday’s API surprise

    January 24, 2018

    Summary: Preliminary PMI for Germany and Eurozone to take the stage in the morning DOE report in the spotlight after API pointed for a decrease of oil inventories CPI from New Zealand to be released in the evening In contrast to the last two days Wednesday’s calendar is full of…

  • US dollar tumbles, oil heads for a big day

    January 24, 2018

    Summary: US dollar keeps declining, EURUSD above 1.23 as the ECB nears Oil stable despite a major inventory build Stocks keep soaring, China up 16% already this year! No end in sight of the US dollar weakness - the weakest G10 currency in 2017 has started this year in a…

  • DE30 follows US into record territory; USDJPY retesting 4-month low at 110

    January 23, 2018

    Summary: The DE30 has broken higher today to reach a new record peak Strong ZEW sentiment print supports latest rally US end government shutdown; Stocks hit new highs USDJPY falls near September lows after BoJ stand pat Oil price rises ahead of inventories Crypto looks to rise despite South Korean…

  • USDJPY falls back to retest 110 handle; Further downside ahead?

    January 23, 2018

    Summary: USDJPY falls close to 4-month low around 110 JPY on the rise since BoJ meeting Price looking to break lower after consolidation The USDJPY is experiencing a fairly large down day, with the majority of the drop coming on the back of a surge higher in the Yen. We earlier…

  • US ends government shutdown; Stocks make more record highs

    January 23, 2018

    Summary: Bill passed last night to end US Government shutdown US stock markets closed at record highs Slowing cash-flows a warning sign going forward? The latest US government shutdown has ended after President Trump signed a bill on Monday night to reinstate funds until the 8th February. The latest political…

  • DAX reaches all-time highs, JPY gains after BoJ

    January 23, 2018

    Summary: Solid outlook for Germany confirmed by ZEW indices South Korea bans anonymous trading accounts API report to take the spotlight in the evening In terms of macro data or market events Tuesday looks rather calm. European benchmarks advance amid optimism seen in the other parts of the world, especially…

  • Economic calendar: Will API report provide further support for oil?

    January 23, 2018

    Summary: German economic sentiment figures to be published in the morning EU Finance Ministers will discuss plan on non-performing loans Weekly API report on oil inventories to take the spotlight in the evening Tuesday looks rather calm when it comes to the macroeconomic releases. In the morning hours figures concerning…

  • Yen gains post BoJ meeting, US Senators strike shutdown deal

    January 23, 2018

    Summary: BoJ keeps its monetary policy settings unchanged, growth outlook kept as well JPY gains along with the NIKKEI (JAP225 on xStation5) post the BoJ meeting US Senate reaches a deal to end a government shutdown, Wall Street makes fresh highs anyway In spite of the fact that the Bank…

  • GBPUSD hits post-Brexit vote high; Crypto under pressure

    January 22, 2018

    Summary: GBPUSD moves close to 1.40 and hits 19-month high Crypto has another look lower Big week ahead for the Euro ZAR rallies as Zuma era comes to an end Gold at key level; DE30 technical overview The Pound has begun the week in a bullish mood with the GBPUSD…

  • Gold remains near key level; Where next?

    January 22, 2018

    Summary: Gold closed lower last week after 5 consecutive gains Price close to falling trendline going back to 2013 US GDP set to be released on Friday at 1:30PM Ever since the Fed raised rates in the middle of December there’s been a steady bid behind the price of Gold…

  • Technical overview: DAX30

    January 22, 2018

    Summary: Will DAX (DE30 on xStation5) follow its counterparts from France and Italy? A breakout above 13 500 points could open the way for fresh rises 13 750 points seem to be the closest resistance once the index pushes higher European indices have continued their rally despite the stronger euro.…

  • Oil and stocks rise, euro consolidating ahead of ECB

    January 22, 2018

    Summary: Important week for euro as ECB meeting is scheduled for Thursday Stock markets seem to ignore US government shutdown Bitcoin remains under pressure Markets set for a calm Monday as today’s economic calendar looks empty. European stock markets rise after SPD decided to resume formal coalition talks with CDU.…

  • Bitcoin tries to bounce back, Russian bank opens blockchain lab

    January 22, 2018

    Summary: Bitcoin (BITCOIN on xStation5) tries to bounce off a short-term support but key obstacles still ahead Russian largest bank by assets opens a blockchain lab aimed at developing, testing and piloting blockchain projects Bitcoin miners earn less as the cryptocurrency price has come off its record high set in…

  • Oil steadies after weekend meeting, TRY drops on geopolitical concerns

    January 22, 2018

    Summary: Oil gains modestly in early trading after OPEC/non-OPEC meeting in Oman Turkish lira declines as tensions in Syrian region Afrin exacerbate US government shutdown began on Saturday, another try to advance a stopgap spending bill today The beginning of this week’s trading has been quite calm as major currencies…

  • GBP falls lower on worst retail sales since Brexit vote; Uni Mich disappoints

    January 19, 2018

    Summary: The Pound is falling back today after a retail sales dropped sharply in Dec The USD and US stocks are gaining despite another Uni Mich miss CAD falls lower despite positive manufacturing data Bitcoin and other crypto markets experience subdued trade German coalition talks wrangle on One of the…

  • Uni Mich comes in below forecasts; US stocks looking for record weekly close

    January 19, 2018

    Summary: UoM consumer sentiment falls to 94.4 vs 97.0 exp Inflation expectations rise due to downwards revision to prior US500 on track for more records The final economic data point of the week has come from the US, with a drop in the University of Michigan (UoM) consumer sentiment index.…

  • Canadian manufacturing sales beat; CAD fails to gain

    January 19, 2018

    Summary: Canadian manufacturing sales beat expectations Prior reading revised lower however USDCAD remains near prior support around 1.2380 It’s a quiet afternoon on the data front form North America with the Canadian manufacturing sales one of only two releases of note (the other is the Uni Mich number at 3PM).…

  • Euro extends gains, UK data below expectations

    January 19, 2018

    Summary: GBP set for the biggest weekly gain since June 2016 Bitcoin tries to recoup recent losses Fate of the German coalition still undecided European benchmarks followed into the footstep of their Asian peers posting decent gains. JPY remains the strongest currency in the G10 basket. Euro extends its gains…

  • Could Bitcoin make a turnaround? Key levels to watch

    January 19, 2018

    Summary: Bitcoin (BITCOIN on xStation5) reversed its latest slump but key hurdles remain in place Some South Korean officials could be involved in insider trading, inquiry is underway Nordic countries could become a Europe’s hotspot for cryptocurrency mining Bitcoin has had a tough week so far as it plunged almost…

  • Economic calendar: Will UK data help GBP extend its rally?

    January 19, 2018

    Summary: UK retail sales to take the spotlight in the morning CAD traders may want to watch out for manufacturing sales data Preliminary Michigan Consumer Sentiment print scheduled for today Looking at the Friday’s economic calendar we can spot some interesting readings. GBP has recouped more than a half of…

  • NZD lower on weak PMI, House passes spending bill

    January 19, 2018

    Summary: NZ dollar hovers somewhat below its break-even line being one of the weakest currency in G10 though as PMI disappoints US House passes a spending bill to avert a shutdown, now it’s the Senate’s turn Wall Street ends the session lower as shutdown-related risks weigh on Despite a rise…

  • Oil recovers after DOE draw; Cryptocurrencies look to recoup recent declines

    January 18, 2018

    Summary: Large DOE draw (-6.9M) sees Oil rise after earlier moving lower Ripple looks to lead Crypto recovery USD remains squeezed; Mixed US data Chinese full-year growth accelerates by most in 7 years  Active recommendations from Banks After earlier moving lower, Brent Oil has recovered into the European close after…

  • Crypto markets look to recover; Comments on possible G20 regulation

    January 18, 2018

    Summary: Cryptocurrencies are rising today after a large decline Ripple higher by around 33% French/German proposal for regulation to be made at G20 It’s been a typically turbulent week for cryptocurrencies with all 5 markets experiencing major declines on talk of South Korean crackdowns, Chinese plans to stop Bitcoin trading…

  • USD remains squeezed after mixed US data

    January 18, 2018

    Summary: Initial jobless claims falls to lowest level since 1973 Building permits come in inline but housing starts fall USD trading lower across the board  A batch of economic data from the US has failed to provide an overriding signal on the world’s largest economy, with jobs numbers dropping to…

  • China’s GDP accelerates, USD awaits data

    January 18, 2018

    Summary: European benchmarks post modest gains Chinese GDP accelerates Data on oil inventories to be published in the afternoon After a yesterday’s slowdown stock markets around the world resume their rally. Euro advances against USD in the absence of relevant data from the Eurozone. Swiss Franc gains against all major…

  • Bitcoin correction explained

    January 18, 2018

    Summary: BITCOIN (Bitcoin underlying) takes a major hit as price deeps below $10000 mark South Korea and China mainly to blame  Technical analysis sees a possible end to the correction This week has been very tough for Bitcoin and other cryptocurrencies as their valuations plummeted. We identify three major reasons…

  • Economic calendar: Will US data support USD?

    January 18, 2018

    Summary: A pack of data from the US Weekly DOE report expected to show another decrease of inventories NZ Business PMI to be released in the evening Thursday’s calendar is filled with the economic releases from the North America. In the early afternoon US data concerning labour and housing market may…

  • AUD little changed despite strong data, Wall Street rises heavily

    January 18, 2018

    Summary: Australian employment report turns out better than expected AUDUSD could be close to a turning point given a technical analysis Wall Street advances substantially as tech gains help SP500 (US500 on xStation5) drive at a record high Looking around major FX pairs one may conclude that it was quite…

  • Crypto sell-off continues; CAD dips despite BOC hike

    January 17, 2018

    Summary: More declines in crytpocurrencies with Bitcoin falling below 10000 Canadian dollar pulls back despite another BOC rate hike More tax-related losses for US banks as Goldman and BoFA post results US industrial production rises; USD looks to recover Oil pulls back from $70; is a reversal imminent?  It’s been…

  • BOC hike rates but CAD falls lower; markets await Poloz

    January 17, 2018

    Summary: BOC hike rates for 3rd time in 5 meetings Move to 1.25% form 1.0% was widely expected Cautious statement sees CAD move lower; Gov Poloz to speak at 4:15PM The Bank of Canada (BOC) have raised rates once more this afternoon with the overnight rate now at 1.25%. This…

  • US industrial production rises; USD looking for first gain in a week

    January 17, 2018

    Summary: Strong rise in US industrial production for December Prior reading revised lower however USD looking for first daily gain in a week On a quiet afternoon of economic data from the US the latest industrial production figures have provided a positive reading. The data form December showed a rise…

  • More tax related losses for US banks but shares stand firm

    January 17, 2018

    Summary: Goldman Sachs and BoFA both report Q4 losses after tax expenses Share prices relatively unaffected; similar to Citigroup yesterday US500 looking to recover after sharp pullback yesterday Earnings season in the US is getting into full swing now with both Goldman Sachs and Bank of America (BoFA) reporting their…

  • Bitcoin keeps declining, FED’s official weighs in on BTC

    January 17, 2018

    Summary: Bitcoin (BITCOIN) continues its slump being traded below a $11k mark Federal Reserve official does not think Bitcoin poses threats to the US dollar BTC daily transactions fail to rebound heralding no bounce in the cryptocurrency Tuesday was possibly one of the worst days for the whole cryptocurrency block.…

  • Economic calendar: BoC captures most attention

    January 17, 2018

    Summary: Bank of Canada is expected to hike rates today as it continues its monetary tightening US data might provide fuel for the greenback to keep on rising Australian jobs report the most crucial event for the AUD this week Wednesday is going to be dominated be the Bank of…

  • USD gains as stocks lose some steam worldwide

    January 17, 2018

    Summary: US dollar gains against all its major peers in G10 in early trading Asian equities retreat as Wall Street pauses its outstanding winning streak Oil prices among reasons for a decrease in the US stock markets Early trading on Wednesday brings us a slight rebound in the greenback as…

  • US stocks break above big psychological levels; Crypto markets plummet

    January 16, 2018

    Summary: All-time highs for US stocks with US30 moving above 26000 and US500 over 2800 South Korean crackdown sends cryptocurrencies crashing GBP dips on slowdown in inflation Large GDT rise but NZD drifts lower Technical overview of DE30 After a long weekend for stock traders across the Atlantic they have…

  • Crypto markets tumble through major technical levels; Further downside ahead?

    January 16, 2018

    Cryptocurrencies have been hit with a wave of selling today with declines in excess of 10% seen in all 5 markets (Bitcoin, Ethereum, Ripple, Litecoin and Dash). There has been some substantial technical damage done to these markets during the sell-off and there could well be more joy ahead for shorts. …

  • Large rise in GDT auction but NZD remains lower on the day

    January 16, 2018

    Summary GDT price index rises by 4.9% vs 2.1% prior Second consecutive strong rise Despite the beat NZD remains lower on the day The latest results from the fortnightly Global Dairy Trade (GDT) auction has seen a large increase in the milk benchmark. An increase of 4.9% comes after a…

  • Dow set to open above 26000; Citigroup to rise after earnings

    January 16, 2018

    Summary: US stocks set to reopen sharply higher after long weekend US30 moves above 26000 for 1st time; US500 above 2800 Citigroup shares rise after earnings Wall Street is set to open higher this afternoon after being closed for a long weekend with the US yesterday celebrating a bank holiday…

  • Another sell-off on the Bitcoin market, USD recovers

    January 16, 2018

    Summary: UK inflation slows down Bitcoin slumps as South Korea thread resurfaces European benchmarks benefit from the weakening of euro During Asian session Chinese and Japanese equities posted solid gains. European benchmarks seem to follow into their footsteps with the German DAX gaining over 0.8% so far. USD is the…

  • Bitcoin slumps below key support area

    January 16, 2018

    Summary: Bitcoin (BITCOIN on xStation5) plunges below a $12k mark as South Korea warns that a crackdown on trading still possible China escalates further its clampdown on digital currency trading French finance minister calls for tough new regulations on virtual currencies Bitcoin took a hit over the course of the…

  • Economic calendar: Inflation figures from Europe in the spotlight

    January 16, 2018

    Summary: CPI from UK to take the spotlight in the morning SNB President Jordan to deliver a speech in the afternoon Oil traders may want to stay cautious ahead of weekly API report Tuesday calendar looks promising when it comes to the data from Europe. A range of the European…

  • Yen lower amid fresh concerns, Bitcoin slumps, Asian stocks gain

    January 16, 2018

    Summary: Japanese yen loses steam amid concerns that authorities may want to limit the latest gains Bitcoin (BITCOIN on xStation5) slumps after remarks from South Korean finance minister Asian stocks continue their winning streak, fresh records in sight The Asian session pushed the US dollar index lower, however it gained…

  • USD falls further; Commodities on the rise

    January 15, 2018

    Summary: USD falls to lowest level since 2013 on Martin Luther King day GBPUSD rallies to post-Brexit high Brent Oil hits 3-year high; Gold and Copper also rise Bitcoin rises as South Korean ban postponed  The week ahead; Stretched markets set to snapback? The US dollar has been under pressure…

  • Brent pops above $70 to make new 3-year high

    January 15, 2018

    Summary: Brent Oil surges above $70 to hit new 3-year high Price spikes higher but fails to close H1 candle above $70 COT data shows net longs increase once more Oil bulls have enjoyed the past 6 months with a Brent experiencing a strong rally from the June low around $44  to…

  • GBPUSD approaching pivotal 1.38-140 level

    January 15, 2018

    Summary: GBPUSD reaches highest level since day after Brexit vote 1.38-1.40 has historically been a pivotal swing level for the pair JP Morgan remaining bearish on the Pound; see 1.30 by end of Q1 This afternoon’s trade could be a little more subdued than normal as the US celebrate Martin…

  • USD remains under pressure, Antipodean currencies on the rise

    January 15, 2018

    Summary: Mixed moods during European session US Dollar continues to slide lower Bitcoin hovers above a support With the lack of US session Monday sets for a calm day on the markets. Major benchmarks from the Europe post slight declines. USD continues to slide lower with US Dollar index flirting…

  • Bitcoin catches its breath as South Korean ban postponed

    January 15, 2018

    Summary: South Korea holds off on banning cryptocurrency trading as sufficient consultations have to be conducted Bitcoin (BITCOIN on xStation5) hovers just above a support, another huge company begins accepting Bitcoin payments Portuguese commercial bank halts reportedly Bitcoin-related transactions The cryptocurrency block was quite calm during the weekend after rising…

  • Economic calendar: Oil and CAD in the spotlight this week

    January 15, 2018

    Summary: Bank of Canada is expected to hike rates this week following the stunning jobs report A key test for the pound as the inflation and retail sales data loom Oil keeps soaring, the weekly DoE report might shake the market though As usual Monday is remarkably calm when it…

  • Dollar starts off on the wrong foot, AUD&NZD gain the most

    January 15, 2018

    Summary: US dollar has begun the new trading week with losses despite a pick-up in core inflation AUD and NZD lead the gains in the G10 basket, traders await the jobs report from Australia PBoC boosts the yuan and injects a massive amount of liquidity, Asian stock markets have thrived…

  • EURUSD hits 3-year high; New all-time high for US stocks

    January 12, 2018

    Summary: EURUSD surges above 1.21 to hit highest level since 1.21 Breakthrough in German coalition talks boosts Euro USD fails to hold on to gains despite rise in core CPI US500 makes another all-time high Ripple gains after new partnership announced The biggest story today comes in the EURUSD as…

  • New highs for US stocks as Banks kick off earnings season

    January 12, 2018

    Summary: US500 recovers from post-data blip to hit new record highs JP Morgan and Wells Fargo report latest earnings Facebook slides on announcement to changes to its news feed The release earlier this afternoon of the December retail sales and CPI figures caused a quick drop lower in stocks with the…

  • Pick up in core CPI offers the USD a final chance

    January 12, 2018

    Summary: Core CPI M/M +0.3% vs +0.2% exp and +0.1% prior Core retail sales M/M +0.4% vs +0.3% exp and 1.0% prior USD moves off its lows following the release Today’s CPI data was earmarked by some traders as a final hope for the US dollar and whilst the release…

  • USD underperforms as investors await inflation data

    January 12, 2018

    Summary: Ripple gains on the back of the new partnership announcement In Germany CDU and SPD are to negotiate a coalition government US retail sale and inflation figures to take the spotlight today Long-awaited day by the USD traders as the US inflation and retail sales figures are scheduled for…

  • Ripple explodes after new partnership announcement

    January 12, 2018

    Summary: Ripple (XRPUSD on xStation5) surges following the announcement on a new partnership Bitcoin mining consumes more and more energy, the trend will keep its momentum according to Morgan Stanley Cryptocurrencies may curb silver ETF holdings based on the latest data Over the course of the past hours Ripple decisively…

  • Economic calendar: The day of reckoning for US dollar

    January 12, 2018

    Summary: Swedish inflation seems to be in the spotlight before the US data set US dollar on the edge as CPI and retail sales releases loom Several central bankers on the agenda as well The US dollar has had remarkably volatile period of time recently. The beginning of the week…

  • Commodity currencies lower, Wall Street hits records

    January 12, 2018

    Summary: CAD, NZD, AUD all are slightly lower as commodity prices slow down their rally China’s trade balance comes in vastly above forecasts Wall Street hits fresh records fuelled by a surge seen in energy stocks The Asian session brought a slight retreat seen in the commodity-related currencies such as…

  • Brent hits $70 a barrel; USD gets hit on unexpected PPI drop

    January 11, 2018

    Summary: Brent Oil extends its recent gains to trade above $70 - highest since 2014 USD falls back after surprise drop in PPI Tomorrow’s CPI data now a possible last stand for the Buck Euro rises following hawkish shift in ECB minutes Bitcoin recovers after falling on South Korean ban talk  Following…

  • Oil hits 3-year high near $70

    January 11, 2018

    Summary: Brent Oil surges higher to reach 3-year peak Price breaks above 2015 high to trade close to $70 Weekly RSI of 79 the highest in five years Following a rare lower close on Wednesday - despite yet another drawdown in the DOE report - Oil bears may have thought…

  • Euro pops higher as ECB may consider shift in guidance

    January 11, 2018

    Summary: ECB account illustrates a bit more hawkish stance presented by central bankers Euro jumps higher as ECB could consider a gradual shift in guidance from early 2018 German 10Y yield moves to the highest since the summer 2017 The single currency got a quick boost following the account from…

  • Mixed European session as investors await ECB minutes

    January 11, 2018

    Summary: Bitcoin remains under pressure USD hopes to receive support from inflation figures ECB minutes to take the stage in the early afternoon With a few important prints scheduled for release today Thursday paints a picture of quite interesting day on the markets. Investors await protocol from the latest ECB…

  • Bitcoin plummets as South Korea plans to ban cryptocurrency trading

    January 11, 2018

    Summary: South Korean government sends Bitcoin plunging as it plans to ban digital currency trading Warren Buffet foretells cryptocurrencies are heading for a bad ending Goldman Sachs says digital currencies could succeed as a real form of money in developing countries All cryptocurrency geeks have heavily focused on South Korea…

  • Is inflation the last chance for the dollar?

    January 11, 2018

    Summary: Friday’s data on inflation crucial for the FX market The US dollar recovered from a sell-off on Wednesday  EURUSD still locked between the key levels The US dollar is really fighting an uphill battle. Just when it looked as if it was on a tear, it was hit by…

  • Economic calendar: Two drivers for EURUSD

    January 11, 2018

    Summary: ECB minutes could offer some clues for single currency traders US PPI should be eyed as the omen before CPI data scheduled for tomorrow NZ building permits in the limelight as the kiwi sits on the fence Over the course of the past hours the China-related story on stopping…

  • AUD leads the gains, Bitcoin plunges below $13k

    January 11, 2018

    Summary: Australian dollar leads the gains within the G10 group following better than expected retail sales Bitcoin (BTCUSD on xStation5) tumbles on revelations that South Korea could shut down more crypto exchanges China informs that the yesterday’s report on the US bond purchases could be based on wrong informations It’s…

  • Oil close to 3-year high as stocks pull back on US-China news

    January 10, 2018

    Summary: Brent Oil hits highest level since May 2015 but fails to build on DOE draw US500 and DE30 both pullback after recent gains Preview of US earnings season  USD gets hit on reports China will scale down UST purchases Bitcoin bounces after early weakness; Dimon regrets "fraud" comments Scandi…

  • DOE shows smaller draw than API; Where next for Oil?

    January 10, 2018

    Summary: DOE inventories -4.9M vs -3.9M exp and -7.4M prior Smaller decline than last night’s API reading of -11.2M Brent Oil remains close to 3-year high The weekly DOE inventories have shown yet another drop with a reading of -4.9M against consensus forecasts for -3.9M and a prior reading of…

  • Scandinavian currencies advance; USDNOK near 10-week low

    January 10, 2018

    Summary: Scandi currencies are on the rise today SEK and NOK among the best performers in G10 Hawkish Riksbank minutes and CPI data behind the moves A look across the G10 space today reveals that Scandinavian currencies are performing well with the SEK and NOK both rising strongly. The NOK…

  • US stocks set for red open following Chinese whispers

    January 10, 2018

    Summary: US indices are in the red ahead of the Wall St open  Rise in US-China tensions could concern investors  Buffet remains a buyer; Godfather of TA remains bullish A rare event looks set to happen this afternoon with US stock markets set to open in the red. The start…

  • Stock markets decline, USD slips on the news from China

    January 10, 2018

    Summary: China limits purchasing of the US treasuries Ethereum retreats from the fresh all-time highs Government report on oil inventories to take the stage later on So far the biggest surprise today came from China as the country decided to limit or even halt purchasing of the US treasuries and…

  • USD tumbles, yields rise on unexpected Chinese report

    January 10, 2018

    Summary: China reports that it may slow down or even halt US bonds purchases US dollar slumps while the US bond yields extend their gains The macroeconomic calendar is relatively empty today but it does not mean calmness across financial markets. While the US dollar was slowly recouping its losses…

  • Shocking remark from Dimon, Ripple bounces off key support

    January 10, 2018

    Summary: Jamie Dimon regrets he called Bitcoin a fraud but he remains not a fan of cryptocurrencies Bitcoin (BTCUSD on xStation5) could fall as much as 50% and Chinese miners would become profitable Ripple CEO comes forward as the cryptocurrency bounces off a key support Major cryptocurrencies were somewhat more…

  • Economic calendar: Could oil continue rising?

    January 10, 2018

    Summary: UK industrial production should capture attention before noon Canadian housing data could once again shake the Loonie DoE report might influence oil prices, risks seem to uneven though Oil prices have been among the best performing commodities of late and this pattern has a chance to continue once today’s…

  • Yen gains as yields increase, equities remain high

    January 10, 2018

    Summary: Yen dominates in G10 again, USDJPY to test support at 112 Wall Street saw another intraday highs, Gundlach sees declines Stocks down in Japan and Australia, gains seen in China A session in Asia resulted in moderate moves on the FX with the Japanese yen on the front line…

  • USD rise gaining traction; Bitcoin pulls back to test key level

    January 9, 2018

    Summary: USD adds to recent gains. Bond market suggests further upside ahead USDCAD rises off 3-month low Bitcoin has found some support today at an interesting level Oil.WTI makes another break higher to trade at levels not seen since 2014 Euro area jobless rate falls to lowest level this decade…

  • Bitcoin pulls back to test key level 

    January 9, 2018

    Bitcoin experienced a fairly large drop yesterday with the market falling back below the 15000 level. Price is now approaching the 50 day SMA which has provided a floor to previous declines. Should the market hold above this level then a recovery may occur but a break below there could…

  • Technical overview: OIL.WTI

    January 9, 2018

    Summary: Oil stockpiles continue sliding but it could reverse in the nearest future Stronger USD could lower demand for oil WTI prices (OIL.WTI on xStation5) at a key supply zone, a pullback could lurk around the corner Oil prices have kept their upward momentum recently being underpinned by a continued…

  • Economic calendar: Interesting data for CAD

    January 9, 2018

    Summary: Unemployment data from the Eurozone is the sole reading worth looking at from the old continent Canadian housing starts could influence the great performance of the CAD API to reveal its weekly report on a change in oil stocks The amount of scheduled macroeconomic readings for today is not…

  • Yen spikes as BoJ cuts bond purchases, Asian stocks higher

    January 9, 2018

    Summary: Japanese yen jumps higher as the BoJ decides to trim bond purchases in one of its regular operations USDJPY bounces off a descending trend line, room for declines seem to be limited though Asian shares higher in response to fresh records seen on Wall Street The Japanese currency decisively…

  • EURUSD falls below 1.20; US stocks remain near record high

    January 8, 2018

    Summary: EURUSD falls below last week’s low and 1.20 US stocks near all-time highs in quiet trade DE30 begins the week with small gains Oil setting up for a pullback? Crypto markets sell-off There’s been some downside seen in the EURUSD today with the market continuing lower and breaking below…

  • Oil setting up for a pullback?

    January 8, 2018

    Summary: Brent Oil ended last week at highest level since November 2014 Price has rallied more than 50% from June 2017 low Reversal signals around here could provide possible short opportunities  Brent Oil recorded a third strong weekly gain on Friday evening and in doing so ended the week at…

  • European equities rise as euro falls, Ethereum surges

    January 8, 2018

    Summary: Stock markets rise ahead of the earnings season launch Dollar gets second breath against euro US inflation figures to take spotlight later this week Optimism on the global stock markets prevails with gains seen all over the globe. With today’s calendar being almost empty markets set for a quite…

  • Ethereum continues its rise, South Korean inquiry into crypto accounts 

    January 8, 2018

    Summary: Ethereum (ETHUSD on xStation5) keeps on rallying after breaking a stunning $1,000 mark  South Korea carries out inspections on some banks handling of crypto accounts  A cryptocurrency hedge fund headed by the former Goldman Sachs vice president raises amazing $140 million Looking across the most traded cryptocurrencies one may…

  • The Week Ahead: Can EURUSD surge to new highs?

    January 8, 2018

    Summary: Semi-important data from the Eurozone and UK Investors wait for the ECB minutes scheduled for Thursday US Inflation figures to take the stage on Friday A start of 2018 has brought huge moves on the markets. EURUSD was among the movers as the pair attacked towards the end of…

  • USD takes first tentative steps on the road to recovery despite NFP miss

    January 5, 2018

    Summary: USD moving higher after NFP miss. 148k vs 190k exp CAD surges as Canadian jobs data smashes forecasts US500 looking for best weekly gain in more than a year EMU inflation falls and weighs on the Euro  Bitcoin moves back above 16000 to trade at 2-week high The eagerly…

  • Canadian jobs data smashes expectations; USDCAD hits 3-month low

    January 5, 2018

    Summary: Canadian employment change: 78.6k vs 1.8k exp and 79.5k prior Unemployment rate falls to 5.7% from 5.9% previously Canadian dollar surges higher Whilst the US NFP report was a little inconclusive as to whether it was good or bad, there is little question regarding its Canadian equivalent which smashed…

  • NFP misses forecasts but USD reverses initial weakness 

    January 5, 2018

    Summary: NFP 148k vs 190k exp and 252k prior Average earnings rise to +0.3% M/M USD falls immediately after the release. Will it break lower? The eagerly anticipated NFP report has been released with a sizable drop in the headline reading causing some disappointment and the immediate reaction seeing the…

  • Investors await US jobs data, stock markets rise

    January 5, 2018

    Summary: Inflation in the Eurozone slows down Traders stay cautious ahead of NFP report Ethereum breaks above $1k Trading on Friday is quite calm with majority of the European indices posting solid gains. Traders await for the NFP report as it is considered a top-tier data for both, investors and Fed. US…

  • Ethereum tops $1k, Ripple bounces back after a pullback

    January 5, 2018

    Summary: Ethereum (ETHUSD on xStation5) passes a $1k mark for the first time ever Ripple (XRPUSD) resumes its uptrend following a short-lived pullback The Hong Kong based cryptocurrency exchange suspends registration of new traders Although the major attention has been paid to Ripple of late as it’s made an incredible…

  • Economic Calendar: An important day for USDCAD

    January 5, 2018

    Summary: A pack of CPI data from Eurozone to be release in the morning Important figures from the US labour market Afternoon’s Ivey PMI print may increase volatility on CAD A long-awaited day for many traders as NFP report is going to be released. In combination with the crucial readings…

  • Australian trade balance disappoints, Asian stocks extend gains

    January 5, 2018

    Summary: Australian trade data comes in below forecasts taking the Aussie lower AUDNZD could be at a turning point given a technical view Asian equity markets extend their recent gains being on the verge of the best week in almost 6 months Beginning with the currency market one may conclude…

  • US stocks open at record highs as global rally continues

    January 4, 2018

    Summary: US stock markets have begun their session at record highs Asian and European indices have enjoyed strong gains today US500, US100 and US30 all breaking higher  The start of the New Year has been pleasing for equity bulls with US markets already moving above last year’s peak and into uncharted…

  • ADP smashes forecasts to come in at 7-month high; Muted reaction in USD

    January 4, 2018

    Summary: ADP employment change: 250k vs 191k and 185k prior Despite the beat USD remains under pressure NFP report tomorrow at 1:30PM (GMT)  A stronger than expected reading in the ADP employment change has raised hopes ahead of tomorrow’s NFP report and provided another positive data point for the US…

  • Decent services PMI pushes GBP higher, Ripple breaks above $3

    January 4, 2018

    Summary: UK services PMI surprises a little to the upside Global optimism boosts stocks US labour market data in the spotlight as it is last one ahead of NFP After an upbeat sessions in Asia and US most of the European benchmarks march higher amid global optimism. USD managed to…

  • EURUSD, DE30 reverse just ahead of the NFP report

    January 4, 2018

    Summary: EURUSD, DE 30 paint reversal signals on the D1 chart the NFP report could be relevant for those markets Investors are mostly interested in the wage data The most popular traders’ report is just around the corner. The NFP report for the final month of the last year will…

  • Ripple continues its amazing rally and breaks above $3

    January 4, 2018

    Summary: Ripple (XRPUSD on xStation5) breaks well above $3 for the first time ever being the second largest cryptocurrency China’s digital currency exchanges hold off on launching their businesses in South Korea due to pending regulations ECB’s Nowotny calls for taxation of Bitcoin transactions Just a day earlier we wrote…

  • US auto sales paint a mixed picture; Gold could end winning streak

    January 3, 2018

    Summary: US auto sales for December fail to give a clear signal of consumer spending Ford and GM beat forecasts but Nissan, Honda and Toyota miss Gold could be set to end recent winning streak Some analysts and traders believe that auto sales can be one of the most significant…

  • ISM manufacturing beats; Can the USD recover? 

    January 3, 2018

    Summary: ISM manufacturing for December beats forecasts Reading of 59.7 vs 58.1 exp and 58.2 prior USD could be set to recover recent declines with EURUSD and GBPUSD at key levels The first of two events today that could have a significant impact on the US dollar has come in…

  • US500 flirting with the 2700 level

    January 3, 2018

    Summary: US stock markets set for record open US500 makes intra-day high just shy of 2700 ISM manufacturing and FOMC minutes to be released later today US stock markets have experienced a far surer start to the new year than their counterparts on this side of the Atlantic with the…

  • US stocks set new highs, USD catches second breath

    January 3, 2018

    Summary: Benchmarks from Wall Street set fresh all-time highs UK construction PMI misses forecasts Bitcoin gains as big investor enters board  First trading session of the year on Wall Street resulted sent benchmarks to new all-time highs. Euro eases after recent rally. Dollar gains against most of the major currencies.…

  • Bitcoin gains as big investor enters board

    January 3, 2018

    Summary: Peter Thiel, a PayPal co-founder, has reportedly bought million of dollars in Bitcoin Russian President Putin plans to use cryptoruble in order to evade international sanctions South Korea plans to put a brake on anonymous cryptocurrency trading later this month Trading on major cryptocurrencies was quite calm during the…

  • Fresh records on Wall Street, FANG on the rise

    January 3, 2018

    Summary: NASDAQ (US100 on xStation5) closed above 7000 points for the first time while SP500 (US500) marked a fresh record as well FANG shares contributed the most to those gains, their outlook still looks enticing Bulls on US100 may face some obstacles as the index closes a key resistance North…

  • Mixed start for stocks as Oil pares early gains

    January 2, 2018

    Summary: Mixed start for stocks with UK100 falling, DE30 flat and US500 rising GBP appreciation weighing on the UK100 Eurozone manufacturing PMI hits highest ever level Oil begins to slip after strong start GDT auction result: +2.2%. Largest rise in 6 months Gold hits highest level since September Latest COT…

  • Oil begins to slip after strong start

    January 2, 2018

    Summary: Brent Oil back in the red after early rally Price had earlier reached its highest level in more than 2 years Market could be set for a pullback after strong run higher The New Year began in a bullish way for oil markets with Brent Oil reaching its highest…

  • Large rise in GDT results to support NZD?

    January 2, 2018

    Summary: GDT auction results show rise of 2.2% Largest rise for the price index in at least 6 months NZD could be poised to rise aided by high level of spec shorts  The fortnightly GDT auction results have shown a strong rise with the price index higher by 2.2% on…

  • Bitcoin dominance declines as Ripple makes incredible rally

    January 2, 2018

    Summary: A rally on Ripple was caused by comments from the company’s CEO and broadening usage of the technology Bitcoin dominance falls severely on the back of a stunning pick-up registered in Ripple (XRPUSD on xStation5) Japanese GDP boosted thanks to Bitcoin according to Nomura estimations Taking a closer look…

  • Economic calendar: Important week for USD and CAD

    January 2, 2018

    Summary: Employment reports from the US and the Canadian economies seem to be in the spotlight during the first week of 2018 US dollar awaits some other macroeconomic readings beyond the NFP report Final PMIs from the European economy and the CPI release are among key points for euro traders…

  • US dollar drifts lower, Chinese stocks surge as new year unfolds

    January 2, 2018

    Summary: US dollar remains on the back foot following its worst year in more than a decade, Antipodean currencies higher in the aftermath of stronger PMIs Chinese Hang Seng (CHNComp on xStation5) soars almost 3% during its first session this year Bitcoin (BTCUSD) stumbles a bit at the beginning of…

  • Happy New Year!

    December 29, 2017

    As the final trading day of the year draws to a close every one of the XTB analysts who contribute to Tradebeat would like to take this opportunity to thank you for viewing the website and wish you a happy and prosperous 2018. Happy New Year! Tradebeat Team  

  • German CPI beats forecasts, Ripple continues its rally

    December 29, 2017

    Summary: German inflation data surprises to the upside Ripple (XRPUSD on xStation5) marches higher outperforming its peers Majority of the European benchmarks finished the last trading day in red The last trading day of 2017 was calm. German inflation data surprised to the upside. European stocks were under pressure by…

  • Euro awaits German CPI print, Ripple skyrockets

    December 29, 2017

    Summary: Stronger EUR weighs on the European stocks Ripple (XRPUSD on xStation5) up more than 20% Investors eyeing on German inflation data   So far the last trading day of 2017 is calm. Not many important figures are scheduled for release today. European stocks are put under pressure by stronger…

  • Cryptocurrencies steady ahead of year-end, Ripple resumes stunning rally

    December 29, 2017

    Summary: Most of the popular cryptocurrencies calm down after a bloodbath on Thursday Bitcoin (BTCUSD on xStation5) has not managed to break above a local resistance though Ripple (XRP.US) strongly rebounds posting new all-time highs It’s been almost a week since the heavy selloff in cryptocurrencies. In the meantime, there have been a…

  • Economic calendar: EURUSD awaits German inflation data

    December 29, 2017

     Summary: German inflation data is the last key macro release this year Investors should also pay attention to Spanish inflationary readings The US oil producers could increase drilling activity as the crude prices remain relatively high The last trading day of the year usually brings lower trading volume. However, today’s calendar…

  • Asia stocks end year at record, oil pushes higher, USD drops

    December 29, 2017

    Summary: Asian stocks set to close the year at record The US dollar is posting the biggest weekly decline since the end of November Oil prices reach the highest level this year following upbeat DoE report The last trading day this year has brought more of the same so far…

  • Package of US macro data does little to help greenback

    December 28, 2017

    Summary: Weekly jobless claims and goods trade balance data misses expectations, wholesales inventories print slightly surprises to the upside The US dollar remains the weakest currency in G10 basket We are still ahead of Chicago PMI release We’ve just got a fresh macro data from the US economy. Jobless claims…

  • Stocks and USD weaken, cryptocurrencies resume selloff

    December 28, 2017

    Summary: European equities slightly decline USD weakens further, EURUSD climbs towards its four-week high Commodities continue their recent rally The US dollar continued its slide during the European morning. In turn, EURUSD climbed to its four-week high putting some pressure on stock indices from the Old Continent. On the other hand, weaker USD…

  • Cryptocurrencies under pressure again, Dash declining heavily

    December 28, 2017

    Summary: South Korea considers shutting down some cryptocurrency exchanges Bitcoin (BTCUSD on xStation5) declines as low as $13700 Dash (DSHUSD) struggles at vicinity of $1000 handle Just as we thought that cryptocurrencies began to recover after a slump last week, another sell-off has stormed the market. One may say that…

  • Economic calendar – US macro and oil data on tap

    December 28, 2017

    Summary: The US macro data, including goods trade balance and Chicago PMI, in focus DoE report on inventories to steer oil prices today ECB Economic Bulletin could be interesting release for EUR traders It’s going to be a relatively busy day as far as economic events are concerned. In the afternoon we…

  • USD drifts lower, commodities and stocks on the rise

    December 28, 2017

    Summary: The US dollar weakens following a drop in yields Metals and oil prices are on the rise supporting commodity currencies Asian stocks near monthly highs, only Japan benchmark retreats The US dollar is the weakest in three weeks following a drop in Treasury yields. The move could be justified by year-end…

  • USD retreats, stocks edge lower

    December 27, 2017

    Summary: European stocks turn into the red despite a promising opening The US dollar retreats ahead of CB consumer confidence data Oil prices partly erase earlier gains, cryptocurrencies try to recover  It was a quite busy morning as European stocks gave up initial gains. Moreover, oil prices erased part of the latest…

  • Cryptocurrencies try to recoup losses, Ripple in the lead

    December 27, 2017

    Summary: Cryptocurrencies try to recoup losses from the last week Bitcoin (BTCUSD on xStation5) recovers but it faces a strong local resistance Ripple (XRPUSD) and Dash (DSHUSD) lead gains this morning as they could be added by Coinbase Cryptocurrencies experienced a really wild ride just before Chrismas. The scale of moves was impressive,…

  • Economic calendar: CB data and API report in the limelight

    December 27, 2017

    Summary: USD and Wall Street could react to CB consumer confidence data today API estimates on inventories could be a market mover for oil prices Pending home sales data may impact the dollar With just three trading days remaining until year-end, trading volumes remain light but market participants look to…

  • Oil soars amid supply disruptions, Bitcoin recovers from heavy selloff

    December 27, 2017

    Summary: Oil prices soar towards 2015 highs amid fresh supply disruptions Bitcoin recovers from heavy Christmas selloff Asian stocks close mixed thinned by a holiday-shortened week A holiday-shortened week starts with surge in oil prices and Bitcoin recovery after a slump from a few days ago. Moreover, the US dollar has…

  • Final trading session before Xmas sees Crypto crash and CAD pullback

    December 22, 2017

    Summary: Cryptocurrencies crash with declines of 20+%  across the board Canadian dollar falls back as GDP misses forecasts USD making tentative gains as inflation picks up SEK little changed despite retail sales beat SPA35 looks to recover after fall on Catalan election Merry Christmas The calm is always followed by…

  • Canadian GDP misses forecasts; CAD hit with selling 

    December 22, 2017

    Summary: Canadian GDP M/M: 0.0% vs 0.2% exp Fall in Oil extraction a particular concern Canadian dollar handing back some of its recent gains The final Canadian data release before the Christmas break has come in worse than expected with GDP M/M for October flat. In Y/Y terms the pace…

  • US inflation rises but durable goods orders miss; USD edging higher

    December 22, 2017

    Summary: US core pce price index Y/Y 1.5% vs 1.5% exp Core durable goods orders Y/Y: 1.3% vs 2.0% exp USD rising after the data With the final trading week before Christmas drawing to a close there has been some interesting data for the US with the latest inflation and consumer…

  • Euro little changed, stocks lower after Catalan election

    December 22, 2017

    Summary: A narrow victory of separatist parties in Catalonia rattles Spanish stocks US Congress approves the short-term funding bill in order to avoid a government shutdown A cryptocurrency block experiences an immense sell-off, Bitcoin (BTCUSD) falls more than 30% from its all-time high Sentiment on stock markets improved a bit…

  • Cryptocurrency bloodbath, BTC daily transactions slump

    December 22, 2017

    Summary: A cryptocurrency block experiences an immense sell-off, Bitcoin (BTCUSD) falls more than 30% from its all-time high Bitcoin daily transactions decline, it could be among reasons pushing the cryptocurrency lower Global daily volume in cryptocurrency markets has already closed to the average NYSE turnover Market capitalization of all cryptocurrencies…

  • Economic calendar: US PCE inflation on tap

    December 22, 2017

    Summary: PCE inflation is a key release for USD today Monthly GDP reading from Canada could strengthen CAD which has been on the rise due to upbeat inflation and retail sales figures Final Q3 GDP print form the UK is the most interesting market event this morning The last trading day before Christmas…

  • Euro slides after Catalan election, Bitcoin crashes

    December 22, 2017

    Summary: Three pro-independence parties win in the Catalan election, euro slightly lower in the aftermath  US Congress approves the short-term funding bill in order to avoid a government shutdown Bitcoin (BTCUSD on xStation5) crashes to $13,000, other digital coins follow The Asian session has been somewhat subdued as the major…

  • FTSE hits record peak; CAD surges on supportive data

    December 21, 2017

    Summary: Leading UK stock benchmark hits all-time high USD mixed following GDP miss; Gold moving higher Canadian dollar higher across the board after CPI and retail sales beat EURNOK hits highest since 2008 Ripple hits new record peak The FTSE 100 (UK100 on xStation) has rallied strongly today moving above…

  • FTSE hits all-time high above 7600

    December 21, 2017

    Summary: UK100 break to all-time high above 7600 Index has been in a 6-month consolidation after making previous record peak If breakout holds then 8000 could be a possible target The FTSE 100 (UK100 on xStation) has rallied strongly today moving above its previous record peak set back in June…

  • Stellar Canadian data sends Loonie higher

    December 21, 2017

    Summary: Canadian inflation in November picks up Retail sales also come in better than expected Canadian dollar rising across the board Whilst the US data release may have stolen the headlines this afternoon, the economic figures from Canada are perhaps the bigger surprise. First off, inflation seems to have picked up…

  • US GDP misses forecasts; Gold at pivotal level

    December 21, 2017

    Summary: US GDP 3.0% vs 3.1% expected Initial jobless also misses forecasts but Philly Fed beats Gold spikes higher on the release A batch of data from the US has come in a little on the disappointing side causing a spike higher in Gold and weighing on the US dollar.…

  • Ripple sets its new high. Will Bitcoin pose a risk to financial stability?

    December 21, 2017

    Summary: Ripple (XRPUSD on xStation5) set its new high overnight as the cryptocurrency-based technology could help stock exchange operators  European economists doubt Bitcoin could be a threat to the financial stability at least at this stage Morgan Stanley estimates how much money hedge funds have invested in cryptocurrencies in 2017…

  • Economic calendar: Canadian data in the spotlight

    December 21, 2017

    Summary: Canadian inflation and retail sales could be decisive for CAD Final US GDP for the third quarter on tap US jobless claims will give an insight into the labour market Thursday’s agenda is full of top-tier economic data from Canada and the US, hence investors should mainly focus on…

  • House gives final approval to tax bill, BoJ stays on hold

    December 21, 2017

    Summary: US House of Representatives passes the tax bill sending it to President Trump Bank of Japan keeps rates unchanged at its last meeting this year NZ GDP beats forecasts, the NZ dollar trades little changed though It’s been the session abundant in many important events including the final vote…

  • Oil back near the highs after DOE report; Stocks unimpressed with tax bill

    December 20, 2017

    Summary: Oil gains after DOE inventories shows draw of 6.5M Stocks dip despite GOP tax bill progress Cryptocurrencies fall on latest Coinbase developments SEK pares gains after Riksbank meeting  GBPUSD near weekly highs despite IMF’s UK warnings  Attention turns to Catalan elections tomorrow There’s been some gains seen in the…

  • Large DOE draw sees Oil move back close to 2017 highs

    December 20, 2017

     Summary: DOE inventories -6.5M vs -3.6M expected OPEC, non-OPEC compliance at 122% in November Oil remains close to 2017 peak The weekly DOE inventories have shown another large drawdown, with the latest release making it now 3 substantial declines in a row. The drop of 6.5M was larger than the…

  • Pound moving higher as Carney addresses parliament

    December 20, 2017

    Summary: GBP trading higher on the day with GBPUSD back above 1.34 Governor Carney testifies before parliamentary committee IMF says Brexit uncertainty hurting UK economy It’s been quite a busy day for the UK in terms of news flow with several developments surrounding Brexit, comments from the IMF and Chancellor…

  • Catalan snap election nears, SPA35 tests a crucial support

    December 20, 2017

    Summary: Catalans vote in snap regional election on Thursday Polls remain unclear, CatComu could be a king-maker SPA35 (IBEX futures underlying) is close to a crucial support area Regional parliament unilaterally declared an independence of Catalonia from Spain two months ago. In turn, the Spanish government triggered the Article 155…

  • Stocks inch lower while US dollar goes nowhere

    December 20, 2017

    Summary: European stock markets keep their moderate losses following a lacklustre session in Asia US dollar stays unchanged despite passage of the tax bill by the Senate, the Swedish krona gains in the aftermath of the Riksbank meeting Cryptocurrencies try to recover their losses made overnight Moods across the European…

  • Cryptocurrencies tumble as Coinbase supports Bitcoin Cash

    December 20, 2017

    Summary: All major cryptocurrencies saw a decline during the Asian session on the back of the announcement that Coinbase allows to trade Bitcoin Cash Some rumours that Bitcoin’s SegWti2x fork will take place yet this year South Korean digital currency exchange Youbit is going to file for bankruptcy There was…

  • Economic calendar: Riksbank takes the stage

    December 20, 2017

    Summary: Riksbank meeting could be a crucial event for SEK DoE report on oil inventories in focus NZD awaits another crucial data from the NZ economy Today’s meeting of the Swedish central bank could be more interesting than usual as Riksbank may follow ECB and limit somewhat its extremely loose monetary policy.…

  • US Senate passes tax bill, NZD lower after trade data

    December 20, 2017

    Summary: US Senate approves the US tax bill seen as the most sweeping overhaul of the country’s tax code The bill must go back to the House for final voting while smooth approval is expected NZ dollar lower on the day due to weak results of the GDT auction and…

  • Stocks and USD await GOP tax plan vote; Bitcoin pulls back

    December 19, 2017

    Summary: Congress expected to vote on final GOP tax bill around around 6:30PM GMT Stocks and USD mixed after strong housing data Bitcoin pulls back on dual blow Sharp GDT drop threatens to derail NZD recovery Euro gains despite IFO miss Technical overview of Oil and Oil.WTI ahead of inventory…

  • Bitcoin falls back to test support after hacking and SEC news

    December 19, 2017

    Summary: South Korean exchange shut down after another hacking attack SEC temporarily suspends trading of Crypto Company Bitcoin lower by 4% on the day. 17400 possible support There’s been a dual blow to Bitcoin today with news from both South Korea and the US weighing on the crytpcurrency. First off…

  • US housing market data beats; Can the USD gain traction?

    December 19, 2017

    Summary: US Building permits beat forecasts Housing starts also rise and beat expectations USD looking to recover from recent weakness The latest data from the US housing market has come in better than expected with both building permits and housing starts beating forecasts. The November reading for building permits showed…

  • EUR advances, stocks mixed 

    December 19, 2017

    Summary: EUR advances despite somewhat disappointing Ifo release Sentiment on European stock markets is mixed, the Santa rally eases Ethereum (ETHUSD) and Dash (DSHUSD) rise to their new all-time highs This morning we noted a further depreciation of the US dollar even despite the fact that passing the long-awaited has been…

  • Will the Tax Plan vote support US500 and the dollar?

    December 19, 2017

    Summary: The US Congress will vote on the final version of the Tax Plan The Plan could support the US economy with a fiscal boost EURUSD is clinched in a consolidation but we spot a H&S formation US500 keeps storming higher, nears 2700 points The final week before Christmas could…

  • Ethereum and Dash make fresh highs. Will Bitcoin become ’niche’ product?

    December 19, 2017

    Summary: Dash (DSHUSD on xStation5) and Ethereum (ETHUSD) establish their new peaks Vancouver-based start-up launched CryptoKitties in order to make blockchain technology less intimidating Bitcoin (BTCUSD) could become a ’niche’ product according to ING’s top economist The Bitcoin price has settled down of late but we cannot say the same…

  • Muted FX session, Asian stocks continue their increase

    December 19, 2017

    Summary: US dollar is on the back foot as traders await the tax bill voting today RBA minutes had a limited impact on the domestic currency US and Asian stock markets continue their rally It’s been outstandingly quiet FX session where the NZ dollar has been the best performing one,…

  • Stocks rally as Gold hits 2-week high

    December 18, 2017

    Summary: DE30 surges higher to reach highest level since early November US stocks hits record peak Gold rises as COT positioning reveals interesting insight BTC pulls back as CME launches futures ZAR surges on ANC leadership vote Global stocks begin a new trading week with optimism as the US Congress…

  • Rand rallies as South Africa ruling party elect new leader

    December 18, 2017

    Summary: Ramaphosa appears to win ANC leadership in South Africe Mr. Ramaphosa seemingly has beaten rival Dlamini-Zuma ex-wife of Jacob Zuma ZAR making strong gains on the reports South Africa’s ruling ANC party have conducted a new leadership vote today as they look to elect Jacob Zuma’s successor. Mr. Zuma has…

  • Stock markets start Santa Rally early?

    December 18, 2017

    The start of the week has seen strong moves higher in several major stock markets with leading indices in Asia, Europe and the US experiencing strong gains. The latest technical setups for the US500, DE30, UK100 and JAP225 are highlighted in the short video below:    

  • US stocks set for record open

    December 18, 2017

    Summary: US indices set for record cash open Bullish equity sentiment seen in Asia and Europe US500, US100 and US30 all hit record highs It’s been a bullish start to the week for stock markets with Wall Street set for a record open. The upbeat sentiment was evident throughout the…

  • European stocks surge, USD retreats

    December 18, 2017

    Summary: European stocks follow upbeat sentiment form Asia, the US Congress could pass the final tax bill as soon as Tuesday US dollar weakens against almost all G10 currencies Bitcoin (BTCUSD on xStation5) is traded around $19k, CME launches Bitcoin futures  European stocks surged this morning following the upbeat sentiment from…

  • European stocks surges, USD retreats

    December 18, 2017

    Summary: European stocks follow upbeat sentiment form Asia, the US Congress could pass the final tax bill as soon as Tuesday US dollar weakens against almost all G10 currencies Bitcoin (BTCUSD on xStation5) is traded around $19k, CME launches Bitcoin futures  European stocks surged this morning following the upbeat sentiment from…

  • CME launches BTC futures. Could Bitcoin hit $300k?

    December 18, 2017

    Summary: CME launches Bitcoin futures a week after trading began at CBOE, the price slumped after opening above $20k Ronnie Moas, the founder of Standpoint Research who predicted a Bitcoin’s rise, forecasts the cryptocurrency will continue its rally CFTC warns of dangers from Bitcoin futures after allowing them US government…

  • Economic calendar: Will the tax reform be delivered?

    December 18, 2017

    Summary: Final CPIs from Eurozone on the agenda today The US Congress is to pass the final version of tax-cut bill this week Riksbank may decide to change its monetary policy After an avalanche of central bank decisions last week some might be already eyeing Christmas. However, it is quite likely…

  • US stocks hit all-time highs; Ripple pares recent gains

    December 15, 2017

    Summary: US stocks have rallied today with the US500 making a new all-time high US data comes in on the soft side Technical overview of Gold which has reversed lower today after rising  Oil set to end the week little changed after hitting 2 1/2 years highs Ripple pulls back after…

  • US stocks look to end the week on their highs

    December 15, 2017

    Summary: US500 on track for highest ever weekly close Fourth consecutive week of higher highs and higher lows US30 and US100 also both set for record closes It’s been another good week for US stock bulls, with the US500 rallying and currently on course for its highest ever weekly close. The…

  • Empire manufacturing misses forecasts; USD coming under pressure

    December 15, 2017

    Summary: US Empire manufacturing index 18.0 vs 18.8 exp and 19.4 prior Industrial production M/M comes in at 0.2% vs 0.3% exp and 1.2% prior USD moving lower again with USDJPY failing to break resistance This afternoon is relatively light on the data front compared to recent days, with two…

  • NZD continues its winning streak, stock markets under pressure

    December 15, 2017

    Summary: NZD strengthens across the board after comments of NZ finance minister European stocks remain in the red, sentiment deteriorates as the US tax bill could be still in peril Interesting developments in emerging markets, affecting Russian and South African assets in particular Friday morning was calm in Europe. As far as…

  • Russia cuts rates more than expected, RUS50 close to crucial resistance

    December 15, 2017

    Summary: Russian central bank decides to cut rates more than expected at its final meeting this year Price growth and inflation expectations fall to a record low Russian main index RTS (RUS50 on xStation5) hovers close to its highs, oil prices remain the prime driver Russian central bank unexpectedly sped…

  • Ripple keeps soaring, Japanese firm starts paying employees in BTC

    December 15, 2017

    Summary: Ripple (XRPUSD) has already climbed to its new all-time high being sped up be hopes related to tests of a Ripple-based payments system in Japan, South Korea A Japan’s company will begin paying a part of its employees’ salaries in Bitcoin (BTCUSD) A potential peak in Bitcoin could coincide…

  • Economic calendar: a second tier data comes into play

    December 15, 2017

    Summary: The US industrial data comes into focus today Rising oil rig count could put pressure on the crude prices BoE quarterly bulletin may offer a deeper insight into the bank’s monetary policy Friday’s calendar is rather calm with few interesting releases. The US industrial data is of the secondary importance…

  • Euro drops and GBP rises as  major central banks conclude final meetings of the year  

    December 14, 2017

    Summary: ECB keep all rates unchanged as widely expected Draghi press conference errs on the dovish side and weighs on the Euro BoE also stand pat; GBP recovers after a dip to end the afternoon higher European manufacturing PMIs beat forecasts  US and UK retail sales impress boosted by Black…

  • “Ample degree of stimulus still needed for inflation”

    December 14, 2017

    Summary: ECB president’s press conference contains no major revelations Draghi: forecasts signal strong pace of economic growth Euro coming under pressure since the speech With the ECB keeping rates on hold earlier as widely expected, the attention turned to Mario Draghi as the president conducted his customary press conference. The event itself…

  • US retail sales beat forecasts; USD looks to fightback

    December 14, 2017

    Summary: US retail sales M/M: 0.8% vs 0.3% expected Core reading 1.0% vs 0.6% forecast USD looking to recover after post-Fed declines It’s a busy day of economic releases with the main one from the US the latest retail sales figures. For the month of November - which includes the shopping…

  • ECB stays on hold, euro slightly lower

    December 14, 2017

    The European Central Bank left all rates unchanged in line with expectations offering little fresh insights. The euro has barely changed so far, however larger moves can occur during the press conference in more than 30 minutes. The key headlines from the statement are as follows: QE running until September…

  • BoE keeps rates unchanged, NOK strengthens across the board 

    December 14, 2017

    Summary: BoE keeps interest rates unchanged, a bit dovish statement accompanying the decision weakens GBP   Flash PMIs confirm ongoing recovery in the European economy  NOK leads gains in G10 basket as Norges Bank takes more hawkish stance This morning was full of important market events, including BoE interest rate decision and…

  • NOK jumps on more hawkish Norges Bank statement

    December 14, 2017

    Summary: Norges Bank leaves interest rates unchanged as expected, the path of future hikes revised slightly up Inflation seen somewhat higher, output gap somewhat narrower than in September NOK surges 1% against the greenback being the best currency in G10 Thursday abounds in many decisions coming from central banks. An…

  • UK retail sales beat expectations by a large margin

    December 14, 2017

    Summary: The headline retail sales, as well as the core measure, easily exceed the market consensus call The numbers were boosted by Black Friday sales and they little change the cautious consumption outlook  GBP positively reacts to these numbers, but the scale of appreciation is limited as investors await BoE…

  • Bitcoin dips as biggest BTC broker allows clients to short the cryptocurrency

    December 14, 2017

    Summary: Bitcoin (BTCUSD on xStation5) saw a short-lived pullback on Wednesday as the biggest broker for BTC futures is to start allowing its customers to bet against the digital currency Ripple (XRPUSD) keeps surging on the back of the upcoming tests of a Ripple-based payments system by Asian banks A…

  • Economic calendar: rate decision marathon

    December 14, 2017

    Summary: There are a few central bank meetings scheduled today, including ECB and BoE The US retail sales data could help USD recover Flash PMIs from Europe will show if the economy further accelerates  Thursday’s calendar is really busy. The Fed’s hike yesterday kicked off the rate decision marathon. The Swiss…

  • China lifts rates, AUD benefits from stunning employment report

    December 14, 2017

    Summary: Australian employment report beats estimates with a huge jump seen in labour force participation China’s central bank lifts some interest rates in response to a hike seen in the FED NZ dollar lower following the updated budget delivered by the new Labour-NZ First government When the dust after the…

  • Third rate hike in the US this year, crude oil slumps

    December 13, 2017

    Summary: FED hikes rates as expected forecasting three hikes next year Crude oil erases its prior gains despite a higher than expected draw in US stocks European stock markets end the day broadly lower just a day before the ECB meeting The Federal Reserve actually did what it had to…

  • FED raises rates, three hikes seen in 2018

    December 13, 2017

    Summary: FED hikes rates for the third time this year as it was widely anticipated FOMC members still forecast three hikes to take place in next year US dollar little changed after all, trimming its knee-jerk slump As per market expectations the Federal Reserve decided to pull the trigger once…

  • Larger than expected DOE draw but Oil remains under pressure

    December 13, 2017

    Summary: DOE inventories -5.1M vs -3.6M exp and -5.6M prior US production rises to new record high of 9.8M Oil.WTI could be set for a sell-off with positioning still in favour of a decline The weekly DOE crude oil inventories have shown a larger than expected draw, but the reading…

  • US CPI rises but core misses forecasts; USD dips ahead of FOMC

    December 13, 2017

    Summary: US CPI M/M rises to 0.4% as expected Core reading drops lower to 0.1% M/M USD dips lower ahead of FOMC this evening (7PM GMT) There has been a slight disappointment in the latest US inflation data which will be seen to offset yesterday’s PPI beat and will likely also…

  • Political tension in the US, Fed meeting in the spotlight, mixed data from the UK

    December 13, 2017

    Summary: Republicans lose Alabama seat in the Senate, USD pares earlier declines though Investors stay cautious ahead of Fed meeting UK wage growth speeds up, whilst employment falls more than expected Overnight, political developments pushed USD lower across the board. AUD was supported by better than expected consumer sentiment data…

  • Ripple, Ethereum surge; South Korea considers cryptocurrency tax

    December 13, 2017

    Summary: South Korea considers a cryptocurrency tax but a current ban on all financial institutions dealing virtual currencies is to be maintained Ripple (XRPUSD on xStation5) surges because of its new partnership with credit card American Express, a Bitcoin buying spree Ehtereum (ETHUSD) soars as well while the CryptoKitties-ecosystem-related concerns…

  • UK wage growth picks up, GBP posts modest gains

    December 13, 2017

    Summary: Wage growth picks up, however, it still lags behind inflation The unemployment rate stays at 42-year low, but employment falls more than expected GBP gains after the release of the labour report, EURGBP could be poised to retest the lower bound of the current consolidation   The key release scheduled…

  • Economic calendar: all eyes on Fed

    December 13, 2017

    Summary: Fed is expected to raise interest rates for the third time this year, investors are looking for hints on the policy path for the next year US CPI figures will be also an important factor for the USD today The report from the UK labour market takes the stage this…

  • Republican debacle in Alabama weakens USD

    December 13, 2017

    Summary: Republicans lose Alabama seat in the Senat which may make difficult for them to push new reforms next year, USD is the weakest currency among G10 overnight Consumer Confidence rises in Australia supporting AUD API reports a large drop in inventories, oil prices recover somewhat  The US dollar reacted to the political developments…

  • Oil prints possible reversal as Crypto break higher

    December 12, 2017

    Summary:  Brent Oil earlier hit 2017 peak before reversing lower; inventory data in focus Another major up-day seen in the Crypto markets led by LTCUSD and ETHUSD However, Litecoin founder urges caution to bulls US inflation rises and sinks Gold to new lows SEK soars as inflation beats estimates GBP…

  • Litecoin founder urges caution after stunning recent gains

    December 12, 2017

    Summary: Charlie Lee warns Litecoin bulls not to get too carried away Tweets expectation for multi-year bear market ahead Litecoin up more than 280% in just five days The rally seen in Litecoin in recent days has been nothing short of sensational, with the cryptocurrency gaining a scarcely believable 284%…

  • EURUSD ahead of Fed and ECB

    December 12, 2017

    Summary: FOMC and ECB meetings could be market movers for the EURUSD The Fed is expected to increase rates, guidelines for 2018 will be crucial EURUSD could be in the "ABC" correction December central bank meetings have often far reaching consequences for currencies and it might be no different in…

  • Antipodean currencies in the lead, GBP quickly erases gains

    December 12, 2017

    Summary: Antipodean currencies march higher despite unfavourable domestic data and mixed sentiment in China The UK inflation speeds up, however, GBP quickly erases gains Oil prices rise as the North Sea pipeline has been shut down Antipodean currencies continue a winning streak started this week. As of time of writing AUD is the strongest…

  • This cryptocurrency beats Bitcoin in terms of rate of return in 2017

    December 12, 2017

    Summary: Bitcoin (BTCUSD on xStation5) constantly hovers below a $17k mark while futures liquidity at CBOE remains paltry Bitcoin mania keeps going while some people even borrow money in order to purchase the cryptocurrency according to a securities regulator Litecoin (LTCUSD) has vastly outrun Bitcoin in terms of a rate…

  • Wall Street with fresh highs, AUD rises despite weak soft data

    December 12, 2017

    Summary: US stock market closed the first trading day this week higher in anticipation of the tax bill implementation Australian business confidence and conditions deteriorated in November AUDUSD could follow its NZ peer but a key resistance remains in place Beginning with stock markets one may conclude that Asian investors…

  • Brent Oil rises to 2017 peak; Bitcoin surges as futures go live

    December 11, 2017

    Summary: Brent Oil has rallied to its highest level of the year Bitcoin surges as CBOE futures go live Gold back near last week’s low ahead of FOMC Quiet start to the week for US stocks DE30 technical overview NOK drops on weak CPI; Norges Bank meeting later this week…

  • Oil moves higher but spec long positioning remains extreme

    December 11, 2017

    Summary: Both Brent Oil and Oil.WTI have moved higher today Brent Oil close to $64 and not far from its highest level since 2015 Latest COT data shows extreme long positioning remains The oil price has been remarkably steady in recent trade with both Brent and WTI trading in narrow…

  • Wall Street back near record highs; More gains ahead?

    December 11, 2017

    Summary:  US500 has recovered after a dip last week Price now just over 10 points from all-time high Red close last week - only 3rd time in the past 16 The US500 has edged higher so far today and is trading back near its record peak as the US enter…

  • Technical overview: DAX30

    December 11, 2017

    Summary: European equity markets remain muted compared to their US counterparts A breakout of a 4-week range seems to be key to set further targets Key technical levels: 13 195, 13 142, 13 100 points The end of the past week was quite successful for the European stock markets and…

  • NOK and NZD biggest movers in G10, stocks remain flat

    December 11, 2017

    Summary: NOK and NZD have been the largest movers within G10 thus far European stock markets remain on the sidelines despite impressive gains in Asia Bitcoin (BTCUSD on xStation5) has held its bullish momentum after a launch of futures at CBOE Volatility across the FX market has been quite huge…

  • NOK drops on weak CPI before Norges Bank meeting

    December 11, 2017

    Summary: Norwegian inflation misses forecasts in November despite the weak NOK Price pressure on producers mounts as PPI accelerates the most since April Norwegian krone declines across the board just three days ahead of the Norges Bank meeting The Scandinavian currencies have had tough time of late as both NOK…

  • Economic calendar: central banks dominate the week

    December 11, 2017

    Summary: The US JOLTs Job Openings report is the only relevant figure in today’s calendar 3 major central banks to dominate the week ahead USD and GBP should be vulnerable to the data scheduled to release this week. Monday is going to be a calm day as far as the…

  • NZD likes new governor, Bitcoin keeps its momentum

    December 11, 2017

    Summary: NZ dollar is by far the strongest currency in G10 following the appointment of a new governor Bitcoin (BTCUSD on xStation5) keeps its upward momentum after a launch of futures at CBOE Chinese inflation stays subdued, Asian equity markets move higher in the aftermath of gains seen in the…

  • NFP beat pushes USD towards highest weekly close in a month

    December 8, 2017

    Summary: NFP of 228k beats forecasts and pushes USD higher Average earnings rise but not as much as expected Uni Mich index drops lower UK manufacturing production remains strong Bitcoin pulls back. Is it a modern version of the "silver corner"? Litecoin rallies more than 40%  The final NFP report…

  • Uni Mich drops to 4-month low but inflation expectations rise

    December 8, 2017

    Summary: University of Michigan consumer sentiment falls to 96.8 Inflation expectations pick up to 2.8% Gold set to end the week near its lows after big breakout The final economic release of the week from the US has seen the University of Michigan consumer sentiment index fall lower, but any…

  • NFP beats estimates but wage growth misses forecasts

    December 8, 2017

    Summary: US NFP for November 228k vs 198k exp and 244k prior  Average earnings m/m rise by 0.2% vs 0.3% exp  Mixed reaction in USD and Gold. US500 hits daily highs The final US jobs report of the year has shown a bigger rise than expected, but a miss in…

  • US dollar gains momentum ahead of payrolls

    December 8, 2017

     Summary: US dollar accelerates its gains as investors seem to expect another decent employment report Pound slips from its daily high despite a Brexit deal, mixed manufacturing data Stock markets thrive across the European continent The most important release scheduled for today is still ahead, however it appears that investors…

  • New high on Bitcoin, other cryptocurrencies worth attention as well

    December 8, 2017

    Summary: Bitcoin (BTCUSD on xStation5) set its new high a touch above $17,000 overnight The Bitcoin price reached as much as $20,000 on Coinbase exchange and crashed afterwards Three cryptocurrencies beyond Bitcoin which could gain momentum going forward Bitcoin has been in the limelight so far this week, however there…

  • Economic calendar – will the NFP report boost USD?

    December 8, 2017

    Summary: The NFP report is the key macroeconomic release today, wages in the limelight The UK industrial data takes the stage this morning, GBP reacts to new developments in the Brexit talks Preliminary UoM indicators will show if the US consumers still beam with optimism, inflation expectations should be also…

  • Japanese GDP beats estimates, EU and UK reach Brexit deal

    December 8, 2017

    Summary: Japanese GDP turns out better than initially thought showing stronger growth but weak consumption GBP gains in G10 as Brexit agreement has been struck Chinese trade data beat forecasts across the board US Congress delays a possible govt shutdown till 22 December Moves across the FX market have been…

  • Bitcoin surge accelerates; USD at 2-week high and Gold drops as traders await NFP

    December 7, 2017

    Summary: Bitcoin has surged higher once more today to post another all-time high What reasons could end the incredible Bitcoin rally? US initial jobless falls lower; USD hits 2-week high Gold drops to 4-month low ahead of NFP Technical overview of Gold Stocks rise and try to recoup  Another day, another record…

  • US500 and Gold at big levels heading into NFP report

    December 7, 2017

    Tomorrow sees the highly anticipated US non farm payrolls (NFP) report released at 1:30PM GMT. With the US stock market (US500) pulling back after posting an all-time high earlier this week and today Gold hitting a 4-month low, several markets that could be effected by the NFP report are trading…

  • US initial jobless remains not far from multi-year low; USD adds to recent gains

    December 7, 2017

    Summary: Weekly initial jobless claims come in at 236k vs 240k exp 4-week moving average drops to 242k USDIDX adding to recent gains; at 2-week high With tomorrow marking the last NFP report of the year traders are looking for any indication of strength or weakness in the US labour…

  • Bitcoin steals the show, Antipodean currencies on the back foot

    December 7, 2017

    Summary: Bitcoin has drawn the most attention so far today as it’s crossed $15k mark Antipodean currencies take a step back as the greenback gains European equity markets recover following a pause in the tech sell-off Thursday in another big day for Bitcoin which has already managed to top a…

  • Three reasons why Bitcoin price could decline

    December 7, 2017

    Summary: Bitcoin (BTCUSD on xStation5) crosses $14k for the first time ever, a $15k mark not far away Three reasons why Bitcoin could see a massive pullback in the nearest future Bitcoin the most overbought this year increasing odds for a crash Another day and the same scenario as Bitcoin…

  • Daily Briefing 7.12.2017

    December 7, 2017

       

  • Economic calendar: Interesting events for EUR, USD and CAD

    December 7, 2017

    Summary:  Data from Canada could give a chance for CAD to recover from a slump that took place after the BoC meeting yesterday The initial jobless claims report is another print from the US labour market this week Investors in Europe await the GDP reading for the euro area as well as…

  • USD gains momentum, AUD hurt by weaker data, Bitcoin tops $14,000

    December 7, 2017

    Summary: The US dollar has gained bullish momentum climbing to two-week high Trade data from Austrailia comes in below expectations, Antipodean currencies stay under pressure Bitcoin (BTCUSD on xStation5) reaches new highs surging well above $14,000 mark  Overnight we saw some interesting moves on FX market as well as on stocks…

  • Oil slips lower; Bitcoin makes more record highs

    December 6, 2017

    Summary: Oil.WTI drops despite large DOE inventory draw Bitcoin smashes through 12000 to reach new all-time high CAD also moving lower after BOC keep rates on hold;dovish shift in statement? ADP comes in around forecast. USD rises to 2-week high. NFP Friday GBP sensitive to Brexit talk progress The latest…

  • BOC keep rates on hold but less hawkish rhetoric weighs on CAD

    December 6, 2017

    Summary: Bank of Canada keeps overnight rate at 1.0% Less hawkish statement sees Canadian dollar fall lower USDCAD holds above prior swing level at 1.2665 The Bank of Canada have kept their overnight rate on hold at 1.0%, but the Canadian dollar has come under some selling pressure after a…

  • US dollar looks for hints from payrolls, Tax Plan

    December 6, 2017

    Summary: The NFP report on Friday is mostly about payrolls The Fed will have a difficult task when it meets next week A success or failure of Tax Plan in Congress could be decisive for the dollar EURUSD could be in ABC correction on a daily time frame The next…

  • Stocks slide, Bitcoin at new all-time highs, Brexit uncertainty weighs on GBP

    December 6, 2017

    Summary: European stocks follow a sell-off on indices in Asia Bitcoin (BTCUSD on xStation5) is still on the rise climbing to new all-time highs GBP weakens as prospects of Brexit talks remain murky and PM May faces strong opposition in her government Global sentiment was depressed during the morning in Europe. Higher…

  • Bitcoin pushes higher while central banks warn investors

    December 6, 2017

    Summary: Bitcoin (BTCUSD on xStation5) storms higher on expectations that a launch of Bitcoin futures may incentivize more institutions to invest, other digital currencies lag behind BTC futures could make shorts much easier being a source of risks for the price Along with the surging Bitcoin price central banks of…

  • Economic calendar – BoC takes the stage

    December 6, 2017

    Summary: BoC meeting could be the most interesting event today as the Bank should set expectations for rate path for the next year ADP report will be the last hint ahead of the US labour data scheduled on Friday DoE inventory data will be the key release for oil market today…

  • AUD slips on weaker GDP, Bitcoin breaks $12,000

    December 6, 2017

    Summary: Australian GDP missed the forecast in the third quarter but improved markedly either way JPY and NZD lead the gains in G10 while AUD loses the most Bitcoin (BTCUSD on xStation5) has already topped $12,000 for the first time Asia stock markets have plunged except the Australian index (AUS200)…

  • Soft services data from US and UK; Antipodeans on the rise

    December 5, 2017

    Summary: ISM non-manufacturing misses forecasts GBP looks to recover after soft service sector data AUD rises on hawkish shift in RBA NZD also gains on central bank speak and improvement in GDT results USDCAD hits 6-week low after trade balance data Technical overview on Oil.WTI Bitcoin wrestles with record peak…

  • US services sector growth cools; Gold looking to break lower

    December 5, 2017

    Summary: ISM non-manufacturing PMI 57.4 vs 59.2 expected Manufacturing ISM also missed forecasts for November   Despite softer than expected print Gold hits weekly lows below 1270 For the second time today an update on the services sector has come in below forecasts, with the US ISM non-manufacturing PMI following the…

  • Trade balance data sends USDCAD to 6-week low

    December 5, 2017

    Summary: US trade balance drops more than expected to -48.7B Canadian equivalent beats estimates to come in at -1.5B USDCAD falls to its lowest level since October Whilst the biggest economic release of the afternoon from North America is the ISM non-manufacturing PMI (3pm GMT release), some trade balance data…

  • Why higher rates could send Bitcoin much lower?

    December 5, 2017

    Summary: Two reasons why higher interest rates could send the Bitcoin price back toward $1,000 The Bitcoin price has soared of late while a daily transactions volume has lagged behind. Is it a bearish signal? CME and CBOE Bitcoin futures will vary making the latter much more liquid Bitcoin (BTCUSD…

  • AUD, NZD rise following possible turning points in monetary policy

    December 5, 2017

    Summary: AUD leads the gains in the G10 as the RBA has tightened up its stance omitting a reference on weak inflation, strong data underpins AUD as well NZ dollar follows its Australian counterpart in the wake of a possible turning point in RBNZ monetary policy Asian session has been…

  • US stocks hit all-time highs; Bitcoin futures set to go live this Sunday

    December 4, 2017

    Summary: US500 makes new record peak after Senate pass GOP tax bill CBOE to offer Bitcoin futures from Sunday GBP hands back earlier gains after failure to make deal in Brexit talks US factory orders beat forecast but still contract DE30 technical overview The Republican tax bill managed to squeeze…

  • Juncker: “Not possible to reach a deal today”

    December 4, 2017

    Summary: UK-EU fail to reach Brexit deal in Brussels PM May says need more consultation on some issues GBP falls back on the news after earlier rising on hopes of a deal Reports that the UK and EU have failed to reach a "complete" agreement over the UK’s first phase…

  • US factory orders contract but beat forecasts

    December 4, 2017

    Summary: US factory orders M/M: -0.1% vs -0.3% exp Prior reading M/M revised higher to 1.7% from 1.4% previously    USD on the rise after Senate pass tax reform The only economic data of note from the US this afternoon has come in better than expected with factory orders for…

  • CBOE beat CME to the punch for Bitcoin futures

    December 4, 2017

    Summary: CBOE to launch bitcoin futures Sunday 10th December First US exchange to offer the market Bitcoin higher by around 3% on the day The first US trade in Bitcoin futures will occur before the end of the week with the Chicago Board Options Exchange (CBOE) set to offer the…

  • Wall Street set for record open

    December 4, 2017

    Summary: US stock markets set to open at record highs  Senate narrowly (51-49) pass GOP tax bill  US500 and US30 make new all-time peaks; Will the US100 follow? The news over the weekend that the eagerly anticipated Republican tax bill managed to squeeze through the Senate by a marginal majority…

  • Pound soars following May’s remarks, stocks hold gains

    December 4, 2017

    Summary: GBP jumps on the back of fresh comments from Theresa May on Brexit US dollar holds its gains after the progress when it comes to the tax bill European indices begin the week in excellent moods, the US futures point to an optimistic opening as well The US dollar…

  • A cryptic slump in Bitcoin just a buying opportunity

    December 4, 2017

    Summary: Bitcoin (BTCUSD on xStation5) saw an enigmatic decline overnight, the price quickly recovered though CME is set to launch Bitcoin futures on 18 December but CFTC warns investors to be wary of BTC anyway Vanguard founder Jack Bogle being an investing legend suggests to ’avoid Bitcoin like the plague’…

  • Economic calendar – it’s important week for USD and CAD

    December 4, 2017

    Summary: UK construction PMI show if an expansion in the industry has occurred actually Releases of factory and durable goods orders will be a good hint ahead of the US GDP print for the fourth quarter It’s a very important week for the USD and CAD Monday’s data-wise is calm as…

  • USD licks its wounds as US Senate passes tax bill

    December 4, 2017

    Summary: US dollar tries to recover after a slump caused by reports related to Michael Flynn US Senate passes the tax bill by a narrow majority pushing Trump’s sweeping tax system overhaul closer to implementation Donald Trump expresses his willingness to negotiate changes to the tax bill Bitcoin (BTCUSD on…

  • Flynn causes fireworks into the weekend

    December 1, 2017

    Summary: Flynn reported to be willing to testify against Trump US stocks plummet alongside USD; Gold spikes higher CAD surges after stellar data ISM just misses forecasts (58.2 vs 58.4 exp) UK manufacturing PMI beats expectations Bitcoin on track for strong daily gain A major surprise development at the end…

  • Flynn willing to testify against Trump; Stocks and USD plummet as Gold spikes

    December 1, 2017

    Summary: Flynn willing to testify that Trump directed him to contact Russians US stocks plummet with US500 falling 2% Gold spikes higher on clear risk-off flows A major surprise development at the end of the week has sent shockwaves through the markets as reports state that Michael Flynn would be willing…

  • ISM just misses forecast; USD awaiting tax bill vote

    December 1, 2017

    Summary: ISM manufacturing PMI: 58.2 vs 58.4 exp. 58.7 prior Manufacturing prices also drop to 65.5 vs 67.0 exp and 68.5 prior USD fairly mixed ahead of tax bill vote The last significant economic data to be released this week has seen the ISM manufacturing reading for November drop by…

  • Stellar Canadian data sends the Loonie surging higher

    December 1, 2017

    Summary: Canadian employment change rises strongly  GDP also beats forecasts CAD rising across the board A bunch of data from Canada has painted a much stronger than expected picture of the economy with both labour market figures and economic growth numbers rising and beating forecasts. First off, let’s look at…

  • European stocks sink, EUR and GBP ignore stellar PMIs

    December 1, 2017

    Summary: European equities post heavy losses, a delay of vote on tax reform in the US Senate could deteriorate sentiment Manufacturing PMIs from Europe and the UK came in a stellar shape, EUR and GBP ignore these releases though CAD awaits an important package of data European indices moved significantly lower…

  • DE30: European stocks remain depressed

    December 1, 2017

    Summary:  Delay of vote on a tax bill proposal in the US Senate and stronger EUR deteriorated sentiment in Europe despite stellar manufacturing PMIs DAX (DE30 on xStation5) pulls back to the crucial support zone Lufthansa (LHA.DE) resists downward pressure after upgrade from Deutsche Bank Rally on European stocks has significantly…

  • Bitcoin settles down while PwC starts accepting BTC

    December 1, 2017

    Summary: Bitcoin (BTCUSD on xStation5) could be one of the largest bubble ever according to Birinyi Associates The price of Bitcoin settles down while bulls have been able to stay above a crucial support PricewaterhouseCoopers (PwC) announces that it starts accepting payments in Bitcoin It’s been the unbelievable week on…

  • Economic calendar: crucial data from Canada and vote in the US Senate

    December 1, 2017

    Summary: The important package of data from Canadian economy comes into focus today, hence CAD can be more volatile than usual The US Senat is to resume debate and vote on tax bill proposal in the afternoon - reports from Washington should steer the US dollar and sentiment on the stock…

  • Voting on tax bill delayed but Wall Street set new highs

    December 1, 2017

    Summary: US Senate chose to postpone voting on the tax bill till Friday SP500 (US500 on xStation5) and Dow Jones (US30) set their new highs in anticipation of the tax bill voting Japanese inflation did not surprise but other readings beat the estimates The long awaited voting on the tax…

  • Oil slips despite OPEC extension; Dow tops 24k

    November 30, 2017

    Summary: OPEC agree 9-month extension but Oil looks lower US stock market rally continues with US30 breaking above 24k Bitcoin back under pressure and close to $9000 Small rise in PCE sees Gold drop to weekly lows European inflation misses forecasts but EUR edging higher As was widely expected, OPEC…

  • OPEC agree on 9-month extension; Oil has a look lower

    November 30, 2017

    Summary: OPEC agrees to 9-month extension to the current supply cuts Libya and Nigeria included in the deal for the first time Oil falls to the lowest level of the day despite the extension As was widely expected, OPEC have announced this afternoon that their current supply cuts will be…

  • Bitcoin back under pressure; threatening to break below $9000

    November 30, 2017

    Summary: More selling seen in Bitcoin today Price lower by more than 6% Market has dropped around 20% from Wednesday’s all-time high There has been a particularly tumultuous 24 hours for Bitcoin with the cryptocurrency 1st surging to a record peak above 11400 yesterday afternoon before plummeting back to the…

  • The Dow tops 24k for the 1st time!

    November 30, 2017

    Summary: US30 rallies above 24000 to new record peak Market up over 500 points this week - on track for largest gain this year Weekly RSI 83 indicates an overbought market The US stock market has moved higher once more today with the Dow Jones Industrial Average (US30 on xStation) moving above the…

  • US PCE picks up; Gold falls to weekly low

    November 30, 2017

    Summary: US core PCE price index 0.2% M/M vs 0.2% exp Core Y/Y reading 1.4% vs 1.3% prior Gold drops below 1280 to hit lowest level of the week The latest inflation data from the US has shown a small increase - as was expected - but the overall reading…

  • Technical overview: GOLD

    November 30, 2017

    Summary: Sellers have kept control on the gold market so far this week Gold prices test a key support after a bounce from an important zone in the vicinity of $1300 Any declines could not exceed $5.6 based on the overbalance strategy We pointed to a divergence between gold prices…

  • Inflation weighs on EUR, oil gains as OPEC meeting begins

    November 30, 2017

    Summary: Euro comes under pressure as inflationary data from the euro area surprises to the downside European stock markets recover putting aside slump in the US tech shares Oil is on the rise as OPEC meeting gets underway Nasdaq plans to lunch Bitcoin futures which could keep the rally going…

  • Oil finely poised heading into OPEC meeting 

    November 30, 2017

    The bi-annual OPEC meeting is expected to conclude in Vienna later on today. Expectations are high that the current supply cuts will be extended, but with speculative positioning near all-time highs there is plenty of scope for a disappointment. What impact could this event have on the price of Oil? Watch…

  • NASDAQ heals Bitcoin’s pain as it plans to launch BTC futures

    November 30, 2017

    Summary: Bitcoin (BTCUSD on xStation5) plunged close to $9,000 after setting its new all-time high above $11,000 Cryptocurrency exchanges faced hurdles to keep up with the surging demand NASDAQ will launch Bitcoin futures as soon as the second half of 2018 Coinbase has been ordered to hand over a broad…

  • Economic calendar: it’s all about OPEC

    November 30, 2017

    Summary: OPEC is expected to extend the oil-cutting deal until the end of 2018 PCE indices could steer the US dollar today CPI figures from euro area should confirm that inflation is still below the ECB target  It’s an OPEC day as the cartel holds its annual meeting this Thursday. The…

  • NZD stumbles as business confidence deteriorates

    November 30, 2017

    Summary: NZ business confidence and outlook deteriorated substantially in October NZ dollar is on the back foot being the weakest performer in G10 Chinese PMIs improved in November but the stock markets in Asia dropped There is no doubt that the NZ dollar has had tough times of late mainly…

  • Bitcoin bubble grows larger; US growth continues to impress

    November 29, 2017

    Summary: Bitcoin extends recent rally to post new all-time high above 11k US GDP rises to highest level since Q3 2014 German inflation beats but Spanish misses; EUR little changed GBP continues to rise OPEC meeting tomorrow  The recent surge higher in Bitcoin has been incredible even by its own…

  • Is Bitcoin now in a bubble? 5 major warning signs

    November 29, 2017

    The recent surge higher in Bitcoin has been incredible even by its own high standards. The price has rallied by over $2500 in the past five days to post a new all-time high above 11400. But with no fundamental developments to support this move higher, there are growing signs to…

  • US GDP rises to highest level in 3 years; USDJPY testing 112 handle

    November 29, 2017

    Summary: US preliminary GDP Q/Q +3.3%  Highest level since Q3 2014 USDJPY hits highest level in a week after the release; 112.10 possible resistance The US economy continues to perform admirably with the latest economic growth figures showing the fastest pace of expansion since 2014. Preliminary GDP for the 3rd quarter came…

  • Technical overview: OIL.WTI

    November 29, 2017

    Summary: OPEC meeting is a key event for oil prices Monthly, weekly and daily time frames suggest that a possible pullback could unfold WTI oil prices (OIL.WTI on xStation5) keep moving above a local support at $57.5. Will we see another test of $59? On the surface the latest performance…

  • German inflation beats forecasts but EUR not too fussed

    November 29, 2017

    Summary: German HICP rises to +1.8% Y/Y  Beats forecasts (+1.7%) and prior reading (+1.5%) Little reaction seen in the Euro which remains flat on the day Inflation in the Eurozone’s most influential country has risen faster than expected according to the latest data. The German HICP for November rose by 1.8%…

  • Pound and Bitcoin steal the show, stocks on the rise

    November 29, 2017

    Summary: British pound and Bitcoin have been by far the most notable markets thus far European stock markets hold onto gains except FTSE100 (UK100 on xStation5) Oil prices move slightly lower as investors impatiently await the OPEC meeting Today’s session has been dominated mostly by developments seen in the UK…

  • The future for Bitcoin, Litecoin and newest opinions of Bitcoin watchers

    November 29, 2017

    Summary: Bitcoin (BTCUSD on xStation5) and Litecoin (LTCUSD) have already breached their round levels The latest issuance of tethers coincided with a jump in the Bitcoin price Bitcoin watchers express their view on the cryptocurrency after the surge beyond $10k A vast majority of cryptocurrency mobile apps could be ’in…

  • Economic calendar: German inflation and oil inventories in the limelight

    November 29, 2017

    Summary: Preliminary inflation prints from Germany could steer euro today  DoE’s report on the US inventories may add volatility to the market ahead of OPEC meeting Prominent figures from the key central banks are on Wednesday’s agenda as well Preliminary CPI prints from Germany should be the key event for forex traders…

  • GBP soars on Brexit story, Bitcoin tops $10k

    November 29, 2017

    Summary: GBP surged as UK bowed to EU demands on the Brexit divorce bill US Senate Budget Committee advances the US tax bill, the move which props up USD and US stocks Bitcoin (BTCUSD on xStation5) has already topped $10,000 It was remarkably tumultuous Tuesday’s afternoon on the British pound…

  • More record highs for US stocks and Bitcoin

    November 28, 2017

    Summary: US stocks extend recent rally above 2600 US consumer confidence hits highest level since 2000 Powell tesitfies before Senate SEK comes back under pressure after retail sales miss How high could Bitcoin go?  US stock markets have added to their recent gains today with the US500 gaining traction above…

  • Powell testifies before Senate committee

    November 28, 2017

    Summary: Fed nominee Jerome Powell testifies before Senate Powell: "case for December rate hike is coming together" Gold remains near 6-week high Jerome Powell has begun his highly anticipated testimony before a Senate select committee. The nominee for the next Fed chair has not made any major surprises during his opening…

  • Who are the key senators for the GOP tax plan to pass?

    November 28, 2017

    Summary: Trump plans to meet today with Senate Republicans Senate floor vote on tax plan expected Thursday or Friday USD edging higher ahead of Powell This week could be remembered as a pivotal one for the Trump administration, with the long-promised GOP tax plan set to be voted on in…

  • Stocks higher despite pullback seen in oil prices

    November 28, 2017

    Summary: European stock markets are gaining momentum across the board Oil prices are falling 1% in anticipation of the OPEC’s meeting on Thursday USD is slightly stronger along with the NZ dollar, Scandinavian currencies remain on the back foot European stock markets have risen so far irrespective of falling oil…

  • What’s next for Bitcoin when $10k is broken?

    November 28, 2017

    Summary: Bitcoin (BTCUSD on xStation5) could be at $40,000 at the end of 2018 while Ethereum (ETHUSD) might triple its value according to former hedge fund manager Cryptocurrency market capitalization has already crossed stunning $300 billion after the jaw-dropping weekend Ethereum is getting closer to our target while Litecoin (LTCUSD)…

  • Economic calendar – New Fed chair testifies in Congress

    November 28, 2017

    Summary: Jerome Powell is going to testify in Congress today as his nomination for a Fed chair has to be confirmed by lawmakers The Conference Board Consumer Confidence index is the key release today API report on estimated changes in oil inventories should warm u investors ahead of OPEC meeting Tuesday’s…

  • NZD grinds higher while Bitcoin closes $10,000

    November 28, 2017

    Summary: NZ dollar outperforms its peers in G10 ahead of the Financial Stability report NZDUSD tries to break a key short-term resistance line Bitcoin (BTCUSD on xStation5) closes $10,000 overnight The Asian session has been relatively mild so far as there have been no substantial moves across the FX space…

  • Bitcoin closing in on $10,000

    November 27, 2017

    Summary: Bitcoin posts another record high above $9700  US500 also moves into uncharted territory Oil slips at the start of big week ZAR rallies despite ratings downgrade  A sensational run-up over the weekend has seen some follow through today with Bitcoin posting yet another all-time high. Litecoin, Ethereum and Dash have…

  • Oil pulling back at the start of a big week 

    November 27, 2017

    Summary: Both Brent Oil and Oil.WTI are in the red today Barkindo makes opening remarks from Vienna  OPEC meeting to conclude on Wednesday  The biggest event of the week for markets could well come from Vienna where OPEC and non-OPEC producing countries are scheduled to have their 2nd technical meeting. The…

  • Bitcoin and ZAR in the lead, European indices slightly in the green 

    November 27, 2017

    Summary: Bitcoin (BTCUSD on xStation5) continues its wild ride towards $10,000 mark surging about $1,500 at the weekend Rand sharply advances recovering from a rating downgrade at Standard & Poor’s European stocks have posted a good start to the week resisting a downbeat sentiment from Asia The biggest market mover was undoublty…

  • Economic calendar: Will OPEC match expectations?

    November 27, 2017

    Summary:  Monday is calm data-wise, the US new home sales print in the limelight today OPEC is expected to extend its output cuts for the whole 2018 this week Inflation data and other prints from the US economy could prop up the USD It’s going to be a slow start to…

  • EURUSD at 2-month high; Oil.WTI at highest level since 2015

    November 24, 2017

    Summary: The US dollar drops again on the day at the end of a bad week for the buck Oil.WTI rises to highest level since June 2015. OPEC next week All-time highs seen in the US500 Ethereum extends breakout rally to fresh record peak Germany could be moving towards a…

  • USD set for substantial weekly declines; Trump’s tax plan in focus next week

    November 24, 2017

    Summary: USD down against all peers barring TRY on the week GBPUSD and EURUSD looking to break higher Trump’s tax bill in focus next week It’s been a bad week for USD bulls with the world’s reserve currency sliding across the board. In fact the only currency that has fared…

  • Oil.WTI set for highest weekly close in more than 2 years; OPEC meeting next Weds

    November 24, 2017

    Summary: Oil.WTI on course for highest weekly close since June 2015 Market trading close to the $60 handle OPEC meeting next Wednesday expected to extend supply cuts It’s been a good week for oil bulls, with Oil.WTI on track for its highest weekly close since the early summer of 2015.…

  • Technical overview: GOLD

    November 24, 2017

    Summary: USDJPY and the US 10Y price (TNOTE on xStation5) offer contrary signals for gold traders Bulls try to keep gold prices under control this month Gold prices walk a tightrope between two notable technical levels Looking at gold prices one may draw misleading conclusions taking into account what has…

  • US stocks power to all-time highs; Will Black Friday boost retailers?

    November 24, 2017

    Summary: US500 breaks above 2600 to new all-time high Wall Street to reopen after closure for Thanksgiving Retailers in focus on Black Friday The US stock market rally shows little sign of abating with the US500 rising above 2600 this morning to post a new all-time high. Bulls will be…

  • Possible resumption of coalition talks in Germany props up sentiment

    November 24, 2017

    Summary: Hopes on forming a new government in Germany are still alive as SPD considers backing Merkel’s cabinet European stocks move higher, IFO Business Expectations surprises to the upside It’s a Black Friday - the sale result form today will be closely scrutinized by investors One of the most interesting news from this…

  • Economic calendar: it’s Black Friday!

    November 24, 2017

    Summary:  German IFO should confirm optimism provided by preliminary PMI prints PMIs from the US economy are also among top figures in today’s calendar It’s Black Friday - stocks could react to sale reports The Friday’s economic calendar is calm as we get just the second tier data from Europe…

  • Yen slips overnight, NZD lower on weak trade data

    November 24, 2017

    Summary: Japanese yen is slightly weaker while USDJPY tests its key support BoJ reduces its JGB purchases, Japanese manufacturing PMI improves NZ dollar slides as well on the back of a miss seen in the trade data The Asian session has been remarkably tepid so far as major indices are…

  • Euro gains on PMI beats; Retail sales weigh on CAD

    November 23, 2017

    Summary: EUR rises after PMI beats EURUSD near 6-week high and key resistance ECB minutes have little impact CAD falls back after retail sales miss Ethereum closes in on record peak How do stocks react to Black Friday? The recovery seen in the Eurozone continues to gather momentum with a…

  • Villeroy (ECB) on inflation and Brexit; EURUSD threatening to break higher

    November 23, 2017

    Summary: Villeroy speaks in London on Brexit and European inflation "ECB still not at inflation goal" Euro edging higher after PMI beats ECB policymaker Francois Villeroy has delivered a speech in London today during which he made several notable comments. Key highlights from the speech were: Eurozone recovery broad based…

  • Canadian retail sales miss forecast; USDCAD holds key support

    November 23, 2017

    Summary: Canadian retail sales M/M: +0.1% vs +0.9% exp  Core reading M/M: +0.3% vs +0.9% exp USDCAD rises after holding key support at 1.2665 With the US celebrating a Bank holiday for thanksgiving the focus of this afternoon’s session is on Canada with a smaller than expected increase in retail…

  • Minutes ECB did not surprise markets

    November 23, 2017

    ECB has just published account of October 25-26 monetary policy meeting, when the bank decided to extend in slower pace the QE programme until September 2018. Minutes did not surprise investors and EUR has held firm near a local resistance. The ECB minutes revealed that some official worried that a setting a…

  • Stellar PMIs propel euro

    November 23, 2017

    Summary: Preliminary PMIs for November confirm a good shape of European economy which adds fuel to EUR rally The US dollar weakens across the board as the minutes from the latest Fed meeting were a bit more dovish somewhat Almost all of European indices have erased initial losses  This morning investors…

  • Is Black Friday good for stocks?

    November 23, 2017

    Summary: Black Friday has been historically mixed for stocks Years 2013 – 2015 brought a correction during the holiday shopping season Technical analysis points at imminent resistance  Thanksgiving day is important to the Americans and Black Friday is important to the markets. It begins a Christmas sales season which is…

  • Where could Bitcoin and Ethereum end the year?

    November 23, 2017

    Summary: Mike Novogratz has revealed his forecasts for Bitcoin (BTCUSD on xStation5) and Ethereum (ETHUSD) at the end of the year Head of Fundstart Thomas Lee illustrates yet more bullish predictions for Bitcoin for 2018 Dash (DSHUSD) has established its new high being fueled by the Zimbabwean story Bitcoin’s volatility…

  • NZ dollar tries to recover following lackluster retail sales

    November 23, 2017

    Summary: FOMC minutes saw the greenback declining across the board NZ dollar tries to take advantage of the weak USD after a weaker than expected retail sales release NZDUSD could be a turning point once the pair breaks a downward trend line The Asian session has been quite calm as…

  • FOMC minutes push the dollar down

    November 22, 2017

    The Federal Reserve sees a near term rate hike, but November’s minutes showed also that there is a hard discussion about inflation. Below we highlight the most important remarks from minutes: Many policy makers see near term rate hike as warranted Some officials were opposed it due to weak inflation…

  • DE30 falls back alongside the USD

    November 22, 2017

    Summary: DE30 declines after early promise USD under pressure after soft data DOE inventories drop - but by less than the API number Scandinavian currencies fall on housing market concerns Dash surges higher once more thanks to Zimbabwe If yesterday’s trade could be summarised by as containing several strong moves…

  • Oil drops despite inventory decline 

    November 22, 2017

    Summary: DOE inventories -1.9M vs -2.2M expected Yesterday’s API showed a -6.4M print Oil.WTI drops to its lowest levels of the day post release Despite seeing a first drawdown in 3 weeks, the DOE inventory release has seen some declines in the oil price with WTI falling to its lowest…

  • Technical overview: OIL.WTI

    November 22, 2017

    Summary: Oil gains due to rising expectations ahead of the OPEC meeting, the API release helps as well Oil WTI (OIL.WTI on xStation5) approaches its nearest resistance at $59 The important support can be found nearby $57.4 The OPEC semi-annual meeting will take place as soon as next week. Investors…

  • USD on the back foot after durable goods miss

    November 22, 2017

    Summary: US durable goods orders drop sharply to -1.2% Core reading rises by 0.4% as forecast USD lower on the day as USDJPY approaches possible support The latest data from the US has come in as a bit of a disappointment with October durable goods orders M/M declining by 1.2% after…

  • USD slightly lower before FOMC minutes

    November 22, 2017

    Summary: USD remains the weakest currency among G10 as Fed’s Yellen warned against quicker rate hikes and investors await FOMC minutes European indices hold gains, German DAX (DE33 on xStation5) catches up after reports on possible resumption of coalition talks Oil prices touch this year highs, DoE report on the agenda…

  • Dash surges due to… Zimbabwean internal crisis

    November 22, 2017

    Summary: Dash (DSHUSD on xStation5) surged above $550 as the program based on the cryptocurrency could be used in order to solve a Zimbabwean crisis Dash has more than doubled its value so far this month. Where to find another targets? Singaporean central bank steps up its efforts to establish…

  • Economic calendar: USD and oil could draw the most attention

    November 22, 2017

    Summary: FOMC minutes are in the spotlight during today’s session Preliminary data on US durable goods orders are worth keeping an eye as well US Department of Energy will reveal its weekly change in oil stocks New Zealand retail sales could help the beleaguered NZD Wednesday is full of macroeconomic…

  • Stock markets resume rally, API report pushes oil prices higher

    November 22, 2017

    Summary: Stock markets resume rally, S&P500 (US500) hits 2,600 pts for the first time USD slightly weakens after Yellen’s speech, JPY leads gains in G10 Oil prices surge as API report suggest a large drop in inventories Global stocks seem to be back in rally mode. It was the second…

  • US stocks post record highs as DE30 recovers

    November 21, 2017

    Summary: US500 breaks to all time high at 2600 DE30 recovers to hit highest level of the week USDTRY also rises to all time peak Bitcoin and Dash make record highs NZD attempts to bounce despite large GDT drop Today has been a record breaking session in many ways with…

  • Where next for Gold?

    November 21, 2017

    Summary: Gold closed last week at highest level in a month  Price is holding a trendline from Dec 2016 low Yesterday saw bearish engulfing candlestick The last two sessions have been volatile ones for Gold with Friday seeing a strong move higher before sellers stepped in yesterday to erase the gains.…

  • Another GDT drop but NZD not too fussed

    November 21, 2017

    Summary: Fortnightly GDT auction: -3.4% Second consecutive large decline  NZD holding up relatively well however The latest GDT auction results are in with the price index showing a second consecutive large drop in coming in at -3.4%. The result is very similar to the prior reading of -3.5% and together…

  • US stocks close in on record peak

    November 21, 2017

    Summary: US500 has moved within 5 points of its all-time high Recovery in DE30 has boosted global sentiment Market remains in clear uptrend channel  Some risk-off flows seen at the start of the week following the collapse of coalition talks in Germany have eased with stocks recovering. The DE30 (a…

  • Technical overview: DE30

    November 21, 2017

    Summary: Improving risk environment across Europe help DAX (DE30 on xStation5) bounce back from a key support line Despite a double bottom pattern further declines remain on the cards 13080 points could be a key level to watch when it comes to seeking potential tipping points The last two weeks…

  • Stock markets strike back, TRY in further retreat

    November 21, 2017

    Summary: USDTRY rises to the record high due to concerns over developments in monetary policy European stock markets erase initial losses Minutes from the last RBA meeting send a neutral message, AUDUSD tries to rebound from multi-week lows  It’s was relatively peaceful morning in Europe without crucial events in the calendar. However,…

  • Bitcoin declines on another theft from cryptocurrency wallet

    November 21, 2017

    Summary: Bitcoin (BTCUSD on xStation5) slumped more than $400 overnight due to another theft from a cryptocurrency wallet Bitcoin has already tested its crucial support at $8000 Noteworthy findings from a CNBC’s survey on Bitcoin carried out among CFOs We had a lively Asian session on Bitcoin and other cryptocurrencies…

  • Economic calendar: central bankers on the agenda

    November 21, 2017

    Summary:  Fed’s Yellen and BoE’s policymakers are on agenda today API report will set expectations ahead of DoE’s data on the US oil inventories NZD traders should eye results of the milk auction  Once again data-wise calendar is calm so the market could focus on usually second-tier events. Some of…

  • RBA sticks to its dovish stance, Aussie little changed

    November 21, 2017

    Summary: RBA underlined its dovish stance in the minutes from the November’s meeting Australian dollar hasn’t moved significantly due to the release, further losses expected though Asian equity markets mark the excellent performance after moderate increases on Wall Street The Asian session did not bring too many economic releases except…

  • German politics drives the EUR and DE30; Oil under pressure

    November 20, 2017

    Summary: German coalition talks fail over the weekend Euro and DE30 slide on political uncertainty Merkel not planning on German minority government  Oil drops as spec longs hit record highs CFTC analysis shows interesting situation on Corn and Coffee Bitcoin soars above $8000  German chancellor Angela Merkel had to concede…

  • “expansion remains solid and broad based”

    November 20, 2017

    Summary: Euro and DE30 reacting to German developments Both fell before recovering ECB president Draghi speaking in Brussels It’s been a fairly volatile day for European markets with both the Euro and the DE30 falling on the latest developments in Germany before recovering as the session progressed. Despite some reassuring…

  • Oil slips lower as positioning reaches extremes

    November 20, 2017

    Summary: Oil.WTI drops 1% to fall back towards $56 Last week saw price recover after notable sell-off Oil speculators have record long positions One of the biggest movers today has been oil with both Brent and WTI falling lower at the start of the week. Any declines seen in the…

  • Euro and stocks erase earlier losses, oil in a retreat

    November 20, 2017

    Summary: Euro along with the European stock markets trim their morning losses caused by a fiasco in German coalition talks Commodities are on the back foot as the new week unfolds Bitcoin and its major peers on the rise as the former hovers above $8000 The new week has begun…

  • Bitcoin crosses $8000 on rising interest from hedge funds

    November 20, 2017

    Summary: Bitcoin (BTCUSD on xStation5) surged above $8000 over the weekend for the first time ever Hedge funds suggest they could add Bitcoin to their investment portfolios when CME launches future contracts Other cryptocurrencies follow Bitcoin, Ethereum (ETHUSD) and Ripple (XRPUSD) could deserve the most attention The last week on…

  • Economic calendar: Will Draghi surprise?

    November 20, 2017

    Investors should focus on central banks this week, as we get minutes from Fed, ECB and RBA. Moreover, President Draghi is to speak at European Parliament which will be a key figure in calm Monday’s calendar. It’s also worth mentioning that due to Thanksgiving on Thursday the activity on markets…

  • Euro under pressure as Merkel fails to forge a new government

    November 20, 2017

    Summary: Angela Merkel concedes defeat as she fails to form a new government over the weekend Three scenarios for German chancellor after coalition talks collapsed Euro grinds decisively lower, JPY increases on a broader tone of risk aversion German chancellor Angela Merkel had to concede defeat over the weekend as…

  • Bitcoin hits new record high; CAD slips after CPI data

    November 17, 2017

    Summary: Bitcoin makes new all-time high just shy of $8000 CAD under pressure after CPI release Gold edging higher despite rebound in US housing data US yield curve at flattest level since 2007 Turkish Lira set for record low weekly close It’s been the amazing week on Bitcoin as the most…

  • Turksih Lira hovers near record lows as Erdogan reiterates unorthodox policy views

    November 17, 2017

    Summary: Turkish Lira not far from record lows  EURTRY set for highest ever weekly close Erdogan stands by unorthodox monetary policy views It’s been another week of declines for the Turkish Lira, with the currency falling to its lowest ever level against the Euro on Tuesday. Barring a dramatic reversal…

  • Gold looks to make a move higher; US housing data beats

    November 17, 2017

    Summary: Gold jumps to its highest level of the day US building permits 1.30M vs 1.19M exp US housing starts 1.29M vs 1.19M exp  There’s been a spike higher seen in Gold in recent minutes with the precious metal moving to its highest level of the day. The market attempted…

  • Canadian CPI inline; USDCAD near weekly highs

    November 17, 2017

    Summary: Canadian CPI M/M +0.1% vs +0.1% exp Core readings also little changed CAD remains lower on the day with USDCAD near weekly highs The final major economic data release of the week has seen Canadian inflation figures come in inline with forecasts with a M/M CPI reading of +0.1%…

  • Antipodean currencies retreat, CAD awaits inflation data, calm session in Europe

    November 17, 2017

    Summary: NZD and AUD are the worst-performing currencies in G10 European indices do not follow upbeat sentiment from Wall Street and Asia hovering around levels from yesterday’s close CAD bearly changes awaiting crucial inflation data from Canadian economy During morning in Europe Antipodean currencies, such as NZD and AUD  led…

  • Bitcoin nears $8000, Ripple makes outstanding surge

    November 17, 2017

    Summary: Bitcoin (BTCUSD on xStation5) makes a remarkable U-turn during the passing week Swiss asset management firm will launch a new futures product for its clients wanting to bet against Bitcoin $7400 seems to be the closest support line for the Bitcoin price Ripple (XRPUSD) soared yesterday afternoon as the…

  • NASDAQ closes at record high while House passes tax bill

    November 17, 2017

    Summary: US equities closed the day with another gains, while NASDAQ (US100 on xStation5) established its new all-time high US House passes the tax bill quite smoothly so now it’s the Senate’s turn US100 is set to close the week higher the eighth time in a row After a very…

  • US stock bulls come charging back; Bitcoin closes in on record peak

    November 16, 2017

    Summary: US indices recover the bulk of recent declines USD lower after initial jobless claims rise Strong industrial production figures fail to boost the buck CAD moves higher after mixed data Bitcoin trades back near all-time high UK retail sales slump the most since 2013 There’s been a strong follow…

  • Strong rise for industrial production; US stocks open higher

    November 16, 2017

    Summary: US industrial production m/m rise 0.9% vs 0.5% exp Capacity utilization beats forecasts for only the 2nd time in 2017  US500 hits daily high after Wall Street open Following the earlier disappointment in the weekly initial jobless claims figures, there has been some positive data from the US with…

  • CAD on the rise after mixed data

    November 16, 2017

    Summary: Debut of Canadian ADP employment change at -5.7k Manufacturing sales m/m: +0.5% vs -0.4% exp  CAD one of the best performers in G10  Today marks the first ever ADP release from Canada with the debut reading coming in at -5.7k. The company has produced private payrolls figures for the…

  • Technical overview: GOLD

    November 16, 2017

    Summary: A technical view reflects uncertainties surrounding the gold market Investors sit on the fence given a longer-term time frame $1285 and $1270 are key levels to watch Investors on the gold market are sitting on the fence which is reflected at the chart below where the price is treading…

  • Initial jobless pops higher; recent USD gains under threat

    November 16, 2017

    Summary: Initial jobless clams rise to 249k Above both the forecast (235K) and prior readings (239K) USD handing back earlier gains The weekly initial jobless claims from the US has shown an unexpected rise in coming in at 249k. This is significantly higher than the 235k consensus forecast and also…

  • USD and stock markets recover

    November 16, 2017

    Summary: European indices follow upbeat sentiment set by Asian stocks USD recovers against EUR and JPY awaiting tax plan vote in the House Representatives later today Soft retail sales from the UK didn’t smash GBP as they were still better than expected European equities grew for the first time in eight…

  • Bitcoin storms higher despite remarks from Morgan Stanley’s CEO

    November 16, 2017

    Summary: Morgan Stanley’s CEO doubts whether Bitcoin deserves the attention it’s getting Bitcoin (BTCUSD on xStation5) seems to be en route to its all-time highs Bitcoin could reach almost $200,000 according the newest survey carried out in the US Indian Supreme Court urges the government to regulate Bitcoin Cryptocurrency traders…

  • Economic calendar: focus on UK retail sales and tax reform vote

    November 16, 2017

    Summary: UK retail sales will give as a complex picture of the economy as inflation figures and labour report are already behind us, GBP awaits the BoE’s speakers either The House of Representatives is to vote on its version of tax plan today, but the key battle will be held in Senat…

  • AUD slightly stronger following jobs report

    November 16, 2017

    Summary: Asian equity markets bounce back despite declines seen on Wall Street Australian employment grew less than expected but the overall outlook remained fairly upbeat Jobless rate slid, however labor force shrank at the same time Australian dollar gains modestly in the aftermath of the data, a key resistance still…

  • Bitcoin and stocks look to recover; data fails to drive USD and GBP

    November 15, 2017

    Summary: Bitcoin higher by almost 10% on the day; back above $7000 DE30 recovers from 6-week low into the European close Oil moves off fortnightly lows despite DOE build Mixed data from US fails to support USD gains GBP little changed after employment data beat  Bitcoin has enjoyed a second…

  • Unexpected build in DOE but Oil looks to recover from recent declines

    November 15, 2017

    Summary: DOE inventories of +1.9M vs -2.1M expected Build below last night’s API number (+6.5M) Brent Oil dips towards 2-week low post-release before recovering The weekly DOE inventories release has seen another build in the headline reading with a print of +1.9M following last week’s +2.2M. This number is a clear…

  • Coup de grace in Zimbabwe sees Bitcoin in vogue

    November 15, 2017

    Summary: Zimbabwean crisis escalates as army takes over Bitcoin trading at double the price on black market Bitcoin corrections being bought more quickly Rising political tensions in Zimbabwe have seen investors flock to Bitcoin with local exchanges still finding buyers as high as $13,499 for the cryptocurrency which currently trades around…

  • Euro keeps surging, stocks battered ahead of US data

    November 15, 2017

    Summary: Euro continues its rally following upbeat GDP releases from the European economies on Tuesday European stock markets tumble another session on the trot taking a leaf out of their Asian counterparts Bonds on the rise as waning risk appetite hastens capital influx Taking a quick snapshot across the FX…

  • Is Bitcoin a pyramid scheme? Ethereum breaks key resistance

    November 15, 2017

    Summary: DBS, one of the largest bank in Asia, sees Bitcoin as a bit of a pyramid scheme UK real estate gains adoption among young inhabitants Ethereum (ETHUSD) breaks a key resistance line and opens up room for further gains Bitcoin is gaining momentum in early trading after a plunge…

  • Economic calendar: UK and US releases in the spotlight today

    November 15, 2017

    Summary: UK jobs data could offer more insight into the economy performance Inflation and retail sales are expected to draw the most attention afternoon Oil falls in the morning as the DoE release will be a key one during the day Wednesday is packed with many crucial macroeconomic releases which…

  • AUD tanks on disappointing wage growth, JPY higher as risk appetite wanes

    November 15, 2017

    Summary: Japanese yen outperforms in G10 after a bleak session seen across Asian markets and despite a miss in GDP Australian dollar drops the most in early trading following disappointing wage growth AUDUSD continues its downtrend, further declines seem to be only a matter of time The Asian session has…

  • Oil drops lower whilst UK and US inflation data fails to have lasting impact

    November 14, 2017

    Summary: Oil.WTI drops by more than 2% ahead of inventory data US inflation rises but greenback fails to rally Stock indices in the red UK CPI comes in below forecast; GBP fairly mixed CFTC data provides interesting insight into EURNZD and AUDJPY  One of the biggest movers today has been…

  • Stocks swoon as US500 tests prior support

    November 14, 2017

    Summary: Selling seen in US stocks following the Wall Street open US500 falls to test monthly low at 2566 House speaker Ryan coy on tax bill  The US session has gotten off to a bad start with the US500 dropping around 10 points following the Wall Street open. The market…

  • Technical overview: OIL.WTI

    November 14, 2017

    Summary: OPEC supports of oil prices, the API release will take place later today WTI oil prices remain in a slight retreat, a key support placed at $55 The overbalance approach indicates major supports at: $56.1 and $54.1 In spite of the fact that the oil market seems to be…

  • US inflation picks up but the greenback slides lower

    November 14, 2017

    Summary: US PPI M/M rises by 0.4% M/M in October Core reading also beats expectations in remaining at 0.4% Despite rise in inflation USD remains lower on the day  Recent months have seen a slightly concerning lack of inflation in the US as far as dollar bulls are concerned, with…

  • SEK declines as inflationary pressures fade away

    November 14, 2017

    Summary: Swedish inflation came in vastly below the target in the past month pushing the SEK substantially lower Fading price dynamics could stem from a waning impact of temporary factors Further depreciation of the Swedish krone seems to be unlikely given the bond market The Swedish krona has found itself…

  • Why Bitcoin slumped 30%? Hard forks explained. 

    November 14, 2017

    Summary: Bitcoin price slumped 30% after reaching all-time high but has partially recovered Some miners look for alternatives now that SegWit2x has failed Bitcoin Gold has had a slow start Last few weeks brought about a massive volatility in Bitcoin (BTCUSD on xStation platform) prices. This market is never short…

  • Inflation surprises to the downside adding pressure to GBP

    November 14, 2017

    Summary: The UK CPI numbers for October come in at below expectations Further easing in inflation pressure undermine rationale for another BoE rate hike EURGBP moves towards highs from October The first important UK data scheduled for this week disappointed which put additional pressure on GBP. The CPI figures for October…

  • Economic calendar: will inflation save GBP?

    November 14, 2017

    Summary: The UK inflation data in limelight today, will this report help GBP? Investors await another strong ZEW reading  Key central bankers are to speak in Frankfurt  Tuesday is all about the UK inflation data for October. Another strong release may spur expectation for further tightening from the Bank of…

  • Antipodean currencies mixed as Chinese data misses forecasts

    November 14, 2017

    Summary: AUD gains a bit while the NZ dollar loses steam after a streak of the Chinese data Australian business conditions surged to their highest level on record helping soothe an adverse effect from disappointing Chinese figures Tasmanian independent senator Lambie to quit parliament adding tensions to the Australian political…

  • Strong bounce in Bitcoin as stock indices hit monthly lows

    November 13, 2017

    Summary: Bitcoin recovers with strong bounce after recent declines DE30 and UK100 hit lowest levels of the month OPEC report upbeat for Oil prices Latest WASDE report could be key for grains Pressure grows on UK PM May. CPI release tomorrow could be key for GBP  We earlier noted that Bitcoin has…

  • Bitcoin looks to recover as Dash makes new all-time high 

    November 13, 2017

    Summary: Bitcoin surges higher by 15%  Market attempting to recoup last week’s declines Dash hits all-time high after block size upgrade We earlier noted that Bitcoin has experienced a sharp decline since hitting an all-time high last Wednesday, but today’s session has seen the market attempt to recover. Price is…

  • Wall Street set for red open as UK100 and DE30 hit monthly lows

    November 13, 2017

    Summary: US markets trading lower ahead of Wall Street open 2562 a level to watch for the US500 DE30 and UK100 both fall to their lowest levels of the month Stock indices have begun the week in the red with the European morning seeing the DE30 and UK100 hit their…

  • Technical overview: DE30

    November 13, 2017

    Summary: DAX (DE30 on xStation5) has slipped into a downward move after it failed to break 13500 points A pullback could reach as much as 12893 points What’s next for the index when the pullback is ended? The last week saw the DE30 declining nearly 3% on the back of…

  • GBP sinks on political concerns, stocks turn into the red

    November 13, 2017

    Summary: GBP remains the weakest currency in the G10 basket as PM May faces growing oppositions in her own party and prospects of Brexit talks are still murky Despite positive opening European indices turn into the red following negative sentiment from Asian markets Bitcoin (BTCUSD on xStation5) tries to recoup its…

  • Bitcoin smashed while its new versions draw attention

    November 13, 2017

    Summary: Bitcoin Gold went live over the weekend, the price surged afterward Bitcoin Cash gained massively as well, it’s already third largest cryptocurrency in terms of capitalization Bitcoin (BTCUSD on xStation5) saw one of the largest pullback on record It was the hectic weekend on the cryptocurrency market as one…

  • Economic calendar: Inflation week for major currencies

    November 13, 2017

    Summary: Inflation reports from the major economies could steer currencies this week A set of the British data (CPI and the labor market) seems to be the most worth looking at Monday is relatively calm but several central bank speakers are on the agenda This week is going to be…

  • GBP lower across the board as May faces growing opposition

    November 13, 2017

    Summary: As much as 40 Conservative members have reportedly signed a letter of no-confidence EU Brexit negotiator Barnier warns about a collapse of Brexit talks, the bloc is drawing up contingency plans for that scenario GBP drifts lower in early trading being the most beleaguered currency in G10 We’re beginning…

  • Gold sinks on worsening outlook; Bitcoin falls below $7000

    November 10, 2017

    Summary: Gold drops sharply by $10 in a matter of minutes Bitcoin extends recent declines and falls below $7000 GBP rises after solid economic data Uni Mich consumer confidence falls back below 100; USD lower A sharp drop in the price of Gold shortly before the European close has caught…

  • US session key for stocks heading into the weekend

    November 10, 2017

    Summary: US markets still to open despite bank holiday US500 recovered into last night’s cash close JAP225 lower ahead of US session; DE30 flat There’s a bank holiday today in the with the banks closing in observance of Veterans Day. However, both the NYSE and NASDAQ will open as usual…

  • Pound bounces back as stocks remain depressed

    November 10, 2017

    Summary: British pound bounces back following a mixed bag from the industrial sector European stocks remain on the back foot while US futures point to a weaker open Bonds in a retreat across the world being the most support for GBP and USD The European stock markets have gone off…

  • Bitcoin Gold is to go live this weekend

    November 10, 2017

    Summary: Developers behind the fork announce that they will release Bitcoin Gold this week Bitcoin (BTCUSD on xStation5 platform) remains on the verge of its key support line Dash (DSHUSD) continues its outstanding rally but sellers could begin taking control Over the course of the last days we wrote that…

  • Economic calendar: First data from the UK after the BoE meeting

    November 10, 2017

    Summary: UK industrial and construction data should draw attention before noon University of Michigan is going to release an update on consumer confidence US oil rigs count might influence oil prices in the evening This week has been relatively benign in terms of fresh macroeconomic data, however the last day…

  • Global stocks hit by a wave of selling; Bitcoin under pressure

    November 9, 2017

    Summary: Sell-off which began in the JAP225 spreads throughout Europe and US US100 hands back the last 3 days gains Gold could benefit from risk-off mood Oil edging higher but remains below possible double top Bitcoin coming under pressure after yesterday’s sharp reversal  A sell-off that began towards the end of…

  • Soft start for US stocks; US100 the biggest loser

    November 9, 2017

    Summary: Wall Street opens with US stocks under pressure US100 the biggest loser but US30 and US500 also both lower  Drop in JAP225 the first sign of weakness A sell-off that began towards the end of the Asian session has spread throughout the globe with European indices declining this morning and…

  • Technical overview: GOLD

    November 9, 2017

    Summary: Risk-off mode supports the Japanese yen and gold prices Gold price stays above $1265 boding well for further increases $1281 changes itself into a crucial support zone Declines across the European stock markets have deepened which could herald a larger pullback around the corner. In this environment risk-off currencies…

  • Oil fails to break prior highs;  Pullback ahead?

    November 9, 2017

    Summary: Brent Oil trading little changed on the day Wednesday saw a sharp move higher but failure to break resistance Price now testing Ichimoku cloud on H1 Yesterday saw some volatile trade in Oil following the release of the weekly DOE report. The market initially dropped on the unexpected build…

  • Dollar loses ground while stocks deepen their declines

    November 9, 2017

    Summary: US dollar is the weakest currency within G10 basket, while risk-off-related currencies are in demand European equities crash, German DAX (DE30 on xStation5) dragged down by ProSiebenSat1 (PSM.DE) German 10Y yield on the rise while its US counterpart stays flat, the spread steepens and supports of the common currency Thursday’s…

  • Sharp reversal in Bitcoin threatens to end stunning rally

    November 9, 2017

    Yesterday was a highly volatile session for Bitcoin even by its own standards. The cryptocurrency first surged higher by more than 10% to post a new record peak before a sharp reversal in the evening saw the day’s gains wiped out. The precipitous drop came after news broke that the widely…

  • ’Dr. Doom’ joins chorus calling Bitcoin a bubble

    November 9, 2017

    Summary: Nouriel Roubini, an economics professor at New York University’s Stern School of Business, aka "Dr. Doom" expresses his doubts on Bitcoin Bitcoin (BTCUSD on xStation5) spiked but failed to maintain its gains Ethereum (ETHUSD) is getting closer to leave a triangle formation Volatility on Bitcoin was quite wild on…

  • Bitcoin moves back near ATH; Surprise build in DOE

    November 8, 2017

    Summary: Bitcoin has made impressive gains today and is back near its all-time high An unexpected build in the DOE inventories threatens the rally in Oil Canadian dollar rising with strong housing data Snapchat shares tumble on disappointing earnings RBNZ rate decision due out at 8PM (GMT)  The Bitcoin price marked…

  • Surprise DOE build threatens recent rally in Oil 

    November 8, 2017

    Summary: DOE inventories post a surprise build of 2.2M US crude output also rises to highest weekly data since 1983 Oil pulls back from recent highs The weekly DOE inventories have shown an unexpected build in the headline reading with a rise of 2.2M against consensus forecasts for a -2.5M…

  • Snap, Crackle and Pop

    November 8, 2017

    Summary: Snapchat shares open lower by more than 10% Weak revenue and user growth in Q3 Stock now back near its lowest level ever The majority of large US companies have now reported their third results with most announcing impressive results. Snapchat however is an exception, with the social media…

  • CAD remains higher after strong  housing data

    November 8, 2017

    Summary: The Canadian dollar is making steady gains today Housing starts for October rise to 223k Building permits rise by 3.8% in September Two Canadian data-points on the housing market have just been released with both the housing starts and building permits improving on their prior numbers. Housing starts in October came…

  • Pound slides below 1.31 while Antipodean currencies on the rise

    November 8, 2017

    Summary: British pound is the poorest currency in the G10 basket following BoE regional agents survey Antipodean currencies on the rise despite weaker than estimated trade balance from China Bitcoin keeps growing on the back of fresh revelations with regard to SegWit2x It’s been a benign session so far as…

  • Bitcoin recovers as SegWit2x support declines

    November 8, 2017

    Summary: The creator of Litecoin, Charlie Lee, tweeted an important message related to SegWit2x Bitcoin (BTCUSD on xStation5) moves higher but the price still hovers below its crucial resistance Litecoin (LTCUSD) and Dash (DSHUSD) are gaining momentum as well The Bitcoin price marked a significant increase earlier today following the…

  • Economic calendar: Will RBNZ help NZ dollar?

    November 8, 2017

    Summary: RBNZ meeting will be the key event during today’s session DoE will release its weekly update on a change in US oil stocks Housing data from Canada worth looking at as well Wednesday is going to be dominated by the RBNZ meeting which will deliver fresh update on the…

  • Asia flat despite weak data from China

    November 8, 2017

    Summary: Trade data from China below market expectations Equity markets remain firm, JAP225 adds another 0.5% to the rally Oil is slightly down after the API report, still above the key support of $55.70 The Asian session was not particularly dynamic as investors seemed to be assured by Wall Street…

  • Oil makes 2017 peak; NZD lower as GDT drops sharply

    November 7, 2017

    Summary Brent Oil rises to highest level since July 2015 WTI also moving higher ahead of US inventory data GDT plummets to weigh on NZD Bitcoin struggles with recent highs as Goldman forecasts $8000 The strong recent rise seen in Brent Oil has seen another move to the upside with the…

  • Sharp drop in GDT puts pressure on NZD

    November 7, 2017

    Summary: GDT auction results show large drop of 3.5% 3rd consecutive decline for the benchmark NZD under pressure after the release The fortnightly Global Dairy Trade (GDT) auction has seen a large drop in the main price index in what could be a worrying development for the New Zealand dollar. A…

  • Technical overview: OIL.WTI

    November 7, 2017

    Summary: Revelations from the Middle East have pushed oil prices higher WTI goes towards $63 Some warning signals seen at a H4 time frame Oil prices have pushed higher recently on the back of fresh revelations coming from the Middle East. Back to October it needs to underline that increases…

  • USD demand prevails, stocks erase earlier gains

    November 7, 2017

    Summary: US dollar leads the gains within the G10 basket European stock markets have wiped off their initial rises while Wall Street indicates a flat open Oil prices slightly higher in anticipation of two notable reports Tuesday’s session hasn’t abounded in many significant macroeconomic releases so far, however despite it…

  • Goldman sees Bitcoin crossing $8000; India withstands digital currencies

    November 7, 2017

    Summary: Goldman Sachs projects that Bitcoin price could reach $8000, the prediction based on the Elliot wave theory Bitcoin (BTCUSD on xStation5) breaks through its support, gains still possible though Reserve Bank of India (RBI) makes a notable announcement on cryptocurrencies Bitcoin has slowed down its rally since the beginning…

  • Economic calendar: Oil and central bankers should draw attention

    November 7, 2017

    Summary: Oil data from API could influence oil prices which are the highest for more than two years US job openings or better known as JOLTS will deliver another input to the labor market Several central bank speakers including Poloz, Draghi and Yellen on the agenda This week is relatively…

  • Asia explodes higher, AUD weaker after the RBA

    November 7, 2017

    Summary: Asian stocks explode higher following records on Wall Street JAP225 sees gains close to 2% in the ninth week of a strong rally AUDUSD sliding after the RBA decision  Four Asian key markets are among the top gaining instruments today with JAP225 (Nikkei225) up by 1.82%, Hang Seng (HKComp)…

  • US stocks and Oil continue to rise

    November 6, 2017

    Summary: US stock markets have hit another all-time high USD near 3-month high as Fed reshuffles some more Oil hits 2017 peak on Saudi tensions Bitcoin drops as other Crypto rise USDCAD lower after Ivey PMI beats forecasts It’s been a bright start to the week for US stock markets…

  • US stocks hit another record high

    November 6, 2017

    Summary: US500 hits new all-time high Price now within 10 points of 2600 level Volatility at extremely low levels  The US stock market has begun the new week in a bullish mood with the US500 rising to post a new all-time high. The market ended on Friday at a record…

  • Ivey PMI hits highest level since Jan ’16; USDCAD pulls back

    November 6, 2017

    Summary: Canadian Ivey PMI 63.8 vs 60.2 expected Highest reading since January 2016 USDCAD moves off daily highs It’s a relatively light afternoon in North America on the data front with the the biggest release the Canadian Ivey PMI which has surprised to the upside. A reading of 63.8 for…

  • USD close to 3-month high amidst more Fed reshuffling

    November 6, 2017

    Summary: USD index near to highest level since July NY fed’s Dudley to retire next year USDJPY testing big resistance level The US dollar is a little lower on the day but the currency remains not far from its highest level since mid-July. Last week’s NFP and ISM releases saw some…

  • Technical overview: DE30

    November 6, 2017

    Summary: German DAX (DE30 on xStation5) reached 13500 points, the likelihood of a pullback increased Could the price go toward 13620 points before a correction occurs? A possible head and shoulders pattern seen in the intraday time frame The German stock market registered another excellent performance last week buoyed by…

  • Bitcoin price settles down as key support in play

    November 6, 2017

    Summary: Bitcoin (BTCUSD on xStation5) settles down as the new week unfolds, a key support seems to be in play UBS chief economist compares Bitcoin to the tulip crisis which took place in the Netherlands Uruguay is going to launch its own digital currency The beginning to the week in…

  • Chinese stocks down on Trump’s comments

    November 6, 2017

    Summary:  CHNComp down on Trump’s comments on trade Gold unmoved by Texas shooting SPA35 struggling amid Puidgemont extradition probe It was an intensive weekend albeit not entirely in a positive way. Another mass shooting in the US is on everyone’s mind but it had no visible impact on the markets. Investors…

  • Greenback on the rise despite NFP miss

    November 3, 2017

    Summary: NFP report shows sharp recovery in US jobs but still misses forecasts Brief USD weakness reverses after stellar ISM release Canadian dollar soars after strong employment data UK services PMI beats but does little to support GBP SPA35 falls back as Catalan tensions resurface Other Cryptos join in Bitcoin’s…

  • Spanish stocks hand back recent gains as Catalan crisis refuses to go quietly

    November 3, 2017

    Summary: SPA35 down by more than 1% on the day The market has maybe now made a false break higher Political crisis to cost Catalonia 0.7% GDP It’s been a fairly quiet end to the week for global stock markets so far today, with the session seeing fairly subdued trade…

  • ISM surges to highest since 2005; EURUSD hits daily low

    November 3, 2017

    Summary: ISM non-manufacturing hits highest level since mid-2005 Reading of 60.1 vs 58.5 exp and 59.8 prior EURUSD falls to lowest level of the day A strong rise in the ISM non-manufacturing PMI has more than offset a softer NFP report as far as the markets are concerned with the…

  • Strong Canadian jobs data sends CAD soaring higher

    November 3, 2017

    Summary: Canadian employment change 35.2k vs 15.0K Strong full time/part time split Canadian dollar making strong gains Whilst the US NFP attracts the Lion’s share of the attention the Canadian equivalent is released at the same time and can often provide a nice opportunity - especially if we get a divergence…

  • Dollar goes nowhere as NFP casts a shadow

    November 3, 2017

    Summary: US dollar treads water as investors impatiently NFP release AUD remains depressed following an ugly report as for retail sales Stocks, bonds muted except for the Spanish IBEX (SPA35) which loses ground The session across various financial markets has been understandably muffled thus far as investors, economists, analysts are…

  • Will Litecoin and Ripple follow the Bitcoin’s rally?

    November 3, 2017

    Summary: Credit Suisse’s CEO claims Bitcoin fits a bubble definition Bitcoin (BTCUSD on xStation5) storms higher and breaks the yesterday’s peak Ripple (XRPUSD) and Litecoin (LTCUSD) seem to be poised to follow the Bitcoin’s rally Bitcoin doesn’t slow down its outstanding pace and continues marching higher. Let us recall that…

  • Economic calendar: Jobs day in North America

    November 3, 2017

    Summary: Labor market reports will be released both from the US and Canadian economies Non-manufacturing ISM from the US worth keeping an eye as well UK services PMI could offer more insight into the economy after the BoE’s rate increase on Thursday A few central bank speakers to take the…

  • Nightmare data from Australia, Apple boosts stocks

    November 3, 2017

    Summary: Mixed session in Asia: Japan on the rise, Chinese equities decline AUD plunges after another retail sales miss US markets firm after a strong report from Apple Asian session was mixed as it brought more gains to Japan and also saw Australian stock exchange rising (despite the domestic data)…

  • Pound plummets as BoE hikes. Bitcoin tops $7000

    November 2, 2017

    Summary: BoE hike rates for the first time since 2007 Hike seen as dovish however with GBP tumbling and UK100 surging higher Recent Bitcoin rally extends as price break above $7000 GOP tax plan announced and Powell closes in on Fed chair Choppy day for the USD and Gold remains…

  • Apple set to report after the bell; stock pulls back from all-time high

    November 2, 2017

    Summary: Apple set to release Q4 results after market close tonight EPS forecast to be $1.87. Revenue $50.7B Shares pulls back after hitting all-time high on Wednesday  There have been some notable moves in US stocks in the past week with earnings releases seeing a significant impact on shares of…

  • SPA35 retests breakout zone 

    November 2, 2017

    Summary: Catalonia crisis a "political win" for Rajoy SPA35 has pulled back to retest a key level at 10395 The market broke strongly higher on Monday Whilst it may be a little premature to declare the Catalonia crisis over for Spain, there is a growing feeling that the worst is…

  • Draft of GOP tax plan leaked; reports of Powell next Fed chair

    November 2, 2017

    Summary: Draft of GOP tax plan  US Initial jobless claims falls to 229k Gold remains at finely poised ahead of major event risks The much vaunted GOP tax plan has been publicised this afternoon with the main news being that the corporation tax is planned to be immediately lowered to…

  • Carney takes the foot off the accelerator. GBP plummets and UK100 soars

    November 2, 2017

    Summary: BoE Governor Carney gives fairly balanced press conference "We decided to take our foot off the accelerator" GBP drops 1%+ against most crosses; UK100 rallies towards all-time high Following the momentous decision from the Bank of England to raise rates for the first time since 2007, Governor Carney has conducted…

  • Pound slumps despite BoE rate hike. What’s next for GBP?

    November 2, 2017

    Summary: BoE lifts interest rates by 25 bps in line with market expectations Voting proves to be more hawkish as just 2 members opted for unchanged BoE statement drops a line that rate may need to rise more than market expects GBP jumps and slumps in the aftermath of the…

  • The NFP preview: which way for the EURUSD?

    November 2, 2017

    Summary: the NFP report in October could show a massive increase in employment after a hurricane-affected September EURUSD at a crucial point ahead of the report, the head and shoulders formation still in play Tax plan, FOMC nominations having an impact on the US dollar as well This week is…

  • Stocks muted, USD and GBP slightly lower before key reports

    November 2, 2017

    Summary: European stock markets have been subdued so far, the FTSE100 (UK100 on xStation5) is slightly higher ahead of the BoE verdict USD along with GBP in a light retreat ahead of key reports scheduled for today Bitcoin (BTCUSD) smashes $7000 following CME and Amazon stories Volatility across currencies, stocks,…

  • UK construction PMI beats forecast, overall outlook remains weak

    November 2, 2017

    Summary: UK construction PMI unexpectedly beats the forecast in October Construction output shrank in the second and third quarters of 2017, construction firms’ confidence slumped GBP popped up on the headline but quickly erased that move While everybody is impatiently awaiting the BoE decision we got quite a decent reading…

  • Bitcoin keeps rallying following CME announcement, Amazon story

    November 2, 2017

    Summary: Bitcoin (BTCUSD on xStation5) has almost touched $7000 following an announcement from the CME Amazon has registered three new domains related to cryptocurrencies which supports the Bitcoin price as well Bitpay will suspend all services during a SegWit2x hard fork Bitcoin has gone nuts one again as the price…

  • Economic calendar: Three major events to watch

    November 2, 2017

    Summary: BoE meeting is bound the steal the show during the day, a rate hike widely anticipated New FED chair and tax bill announcements are the most important events for the US dollar Some central bank speakers on the agenda, Powell among others Thursday is the day of reckoning for…

  • US dollar lowers across the board awaiting tax plan, new FED chair

    November 2, 2017

    Summary: US dollar is on the back foot across the G10 space, Antipodean currencies on the rise US tax bill is going to be released later today (possibly at 3:15 pm BST) Donald Trump will announce the new FED chair at 8:00 pm BST It’s going to be a big…

  • Fed stand pat after mixed US data. Oil pulls back despite DOE draw

    November 1, 2017

    Summary: The Fed have kept interest rates on hold as was widely expected ADP rises to 235k for October ISM misses forecasts and drops to 58.7 Brent Oil pulls back from yearly high despite DOE draw UK manufacturing beats forecasts ahead of "Super Thursday" As was widely expected the Fed funds…

  • 3 trade ideas for the expected BoE hike

    November 1, 2017

    The Bank of England are widely expected to hike interest rates for the first time in more than a decade at tomorrow’s meeting. How could this event impact the GBPUSD, EURGBP and GBPJPY?  Watch our short video below:    

  • DOE shows a smaller drawdown than API; Oil pulls back

    November 1, 2017

    Summary: DOE inventories fall to -2.4M vs -1.5M exp Drawdown smaller than last night’s API number however (-5.1M) Brent Oil pulls back from 2017 peak The weekly DOE inventories have shown a decrease once more after last week’s unexpected surprise. A fall of 2.4M is larger than the consensus forecast…

  • ADP beats forecasts but prior print revised lower. USDJPY rises close to key level

    November 1, 2017

    Summary: ADP employment change 235k vs 202k exp Prior reading revised lower to 110k vs 135k previously USDJPY moves back above 114 The ADP employment report has seen a stronger than expected reading, with 235k US jobs added during the month of October. The reading is a nice beat on the…

  • UK manufacturing beats; GBP traders await “Super Thursday”

    November 1, 2017

    Summary: UK Manufacturing PMI rises to 56.3 vs 55.8 exp Post-release GBPUSD hits 3-week high; EURGBP falls to lowest since June BoE expected to raise rates tomorrow for 1st time in a decade The UK manufacturing sector continues to perform well, with the latest data coming in better than expected.…

  • Asian shares hit 10-year high; NZD rises on labour market data

    November 1, 2017

    Summary: Strong Asian session for shares with JAP225 rising almost 2% NZD rises after beating forecasts on employment data Busy day ahead with UK and ISM manufacturing data, ADP, DOE and Fed The Asian session saw another leg higher for stocks as the global rally shows little sign of abating. The JAP225…

  • Strong US data ahead of major events; Canadian GDP unexpectedly contracts

    October 31, 2017

    Summary: Chicago PMI and CB consumer confidence come in better than expected Canadian GDP unexpectedly drops  US stock markets near record highs halfway through earnings season Bitcoin hits all-time high as CME prepares to offer futures contract Eurozone inflation slows with flash CPI missing forecasts Poloz speech and NZ employment…

  • US stocks at all-time highs ahead of major events

    October 31, 2017

    The coming days will bring a number of potentially major events for US stocks with a Fed rate decision, Q3 earnings releases from Facebook and Apple and NFPs all scheduled to be released before the week is out.  To find out more please watch the video below:    

  • Chicago PMI and Consumer Confidence hit multi-year highs

    October 31, 2017

    Summary: Chicago PMI rises to 66.2 vs 60.2 expected - highest since Mar 2011 CB consumer confidence also beats forecast - best reading since Dec 2000 Gold attempts to break lower and dips below $1270 On a big week of data from the US, the world’s largest economy has gotten…

  • Canadian GDP unexpectedly drops; USDCAD retests 3-month high

    October 31, 2017

    Summary: Canadian GDP for August unexpectedly drops by 0.1% M/M Fall comes against forecasts for a 0.1% rise USDCAD spikes higher by 70 pips to retest 3-month high The Canadian economy unexpectedly contracted in the month of August with the GDP M/M coming in at -0.1%. The release is the…

  • Antipodean currencies take a step back, stocks flat except for IBEX

    October 31, 2017

    Summary: Antipodean currencies lead the losses in the G10 basket while the US dollar is delicately higher Stocks in Europe trade flat, the Spanish IBEX (SPA35 on xStation5 platform) gains as much as 1% Bonds remains subdued, the US 10Y yield trades still below 2.4% following the tax reform revelations…

  • Technical overview: OIL.WTI

    October 31, 2017

    Summary: Oil prices increase as OPEC and Russia signal to a possible extension of the output cuts deal WTI oil prices (OIL.WTI on xStation5) gather momentum as they broke through a neck line of an inverted head and shoulders pattern (SHS) A key resistance area at a daily time frame…

  • EMU inflation slows down but labor market strengthens

    October 31, 2017

    Summary: EMU inflation slows down more than estimated in October GDP in a q/q terms beats estimate showing the highest pace of growth since 2011 Labor market illustrates that slack is being absorbed boding well for inflationary pressures going forward Euro remains barely changed, the short-term decline still on the…

  • Iranian govt prepares infrastructure for Bitcoin use

    October 31, 2017

    Summary: Iranian govt prepares infrastructure for Bitcoin use inside the country Ethereum (ETHUSD on xStation5) is getting closer to leave a triangle pattern Zimbabweans increase their adoption of Bitcoin as a means to access international markets Major cryptocurrencies have been on the sidelines recently following a fresh high seen on…

  • Economic calendar: Big day for commodity currencies

    October 31, 2017

    Summary: EMU inflation in the spotlight before noon, the euro at risk as German CPI missed expectations Canadian GDP one of the most important releases for the CAD this week NZ labor market report might leave the kiwi exposed once again Tuesday is packed with many relevant releases where those…

  • BoJ revises CPI forecasts down, NZD on the back foot

    October 31, 2017

    Summary: Bank of Japan kept rates unchanged, lowered CPI forecasts NZD on the back foot again as business confidence sinks Chinese PMIs illustrate weaker numbers across the board The Bank of Japan meeting was in theory the biggest event during the Asian session even as nobody had expected adjustments to…

  • Stocks pull back from record highs as Russia probe and Fed chair in focus

    October 30, 2017

    Summary: Russia probe makes 1st charges Next Fed chair expected to be announced on Thursday German inflation misses forecasts; US comes in inline Technical overview of the DE30 after ECB support the rally Bitcoin remains above $6000 after posting all-time high   Donald Trump’s former campaign chair Paul Manafort has…

  • Next Fed chair to be announced on Thursday. Stocks dip on “phase-in” of tax cut

    October 30, 2017

    Summary: Next Fed chair expected to be announced on Thursday Powell the favourite but Taylor could make vice-chair Stocks dip on proposed "phase-in" of corporate tax cuts It has been widely reported that the US president Donald Trump is looking to announce his nomination for the next Fed chair at…

  • Russia probe heats up with Manafort and Gates indicted

    October 30, 2017

    Summary: First charges of Mueller’s Russia probe announced Paul Manafort and Rick Gates charged in a 12-count indictment Gold and US dollar fairly mixed on the day Donald Trump’s former campaign chair Paul Manafort has turned himself into the US FBI to face indictments as the special counsel investigation into…

  • German inflation misses forecasts with US inline. EURUSD remains under pressure

    October 30, 2017

    Summary: German flash CPI m/m: 0.0% vs 0.1% exp  US core PCE price index m/m: 0.1% vs 0.1% exp  EURUSD drops back towards 1.16 handle following the release There have been two inflation readings released this afternoon with the German number coming in slightly disappointingly while the US was inline.…

  • Technical overview: DE30

    October 30, 2017

    Summary: ECB supports of the ongoing rally seen across the European equity markets Will DE30 make a pullback even towards 12000 points? The nearest support seems to be placed ca. 160 points from the current price The German stock market is realizing a bullish scenario following the ECB meeting which…

  • All markets muted while Bitcoin and IBEX draw attention

    October 30, 2017

    Summary: FX market has been muted so far with the US dollar being delicately lower Bitcoin and IBEX have drawn attention, the first rises close to 7%, the latter is up 1.6% GBP and EUR could be exposed in the short-term based upon the CFTC analysis The beginning to the…

  • New high on Bitcoin, another legal restraints on the horizon

    October 30, 2017

    Summary: Bitcoin (BTCUSD on xStation5) established its new high on Sunday above $6200 Bitcoin-related jobs skyrocketed during the third quarter, the ability to manage an initial coin offering among the main skills looked for by companies Vietnamese central bank seeks to ban Bitcoin activities developing a legal framework for digital…

  • IBEX jumps while its peers begin flat

    October 30, 2017

    Summary: European stock markets have begun the day mixed, IBEX (SPA35 on xStation5) jumps on the Catalan thread DE30 struggles with its another resistance line but an upward move could continue Volkswagen (VOW.DE) leads the gains following an upbeat recommendation The ECB brought about an increase in the German equity…

  • USD pares GDP gains on reports Powell set to be next Fed chair

    October 27, 2017

    Summary: Reports that Powell set to be next Fed chair weigh on USD and support Gold Moves reversed earlier market action after US GDP beat forecasts Spanish stocks falls as Catalonia declare independence Oil moves up to highest level of the year Buffet calls Bitcoin "a real bubble"  Its been…

  • Powell closing in on Fed chair? Gold on the rise as USD falls back

    October 27, 2017

    Summary: Trump said to be leaning towards Powell as next Fed chair Yesterday reports claimed Yellen was out of the race Spike higher in Gold and stocks whilst the USD has dropped back The race for the next Fed chair is hotting up with reports doing the rounds that Trump…

  • SPA35 sinks as Catalonia declare independence 

    October 27, 2017

    Summary: Spanish stocks sink as Catalan declare independence Catalan parliament votes 70 to 10 in favour of secession SPA35 falls close to prior support at 10090. EURUSD at 3-month low The Catalan independence saga has had a potentially major twist this afternoon with the Catalan parliament voting strongly in favour…

  • US GDP beats forecasts. USDJPY rises to test key level

    October 27, 2017

    Summary: US Advance GDP Q/Q 3.0% vs 2.6% expected Two-quarter performance the strongest in three years USD rising after the release. USDJPY tests key level at 114.50 The world’s largest economy continues to grow at an impressive pace with the US advance GDP Q/Q for the 3rd quarter coming in…

  • Greenback continues its winning streak awaiting GDP

    October 27, 2017

    Summary: US dollar continues its uptrend ahead of the GDP release later in the day Commodities take a step back as the USD grinds higher Stocks on the rise across the board, the Spanish IBEX (SPA35 on xStation5) lags behind though Moves which began on Thursday have been continuing until…

  • Warren Buffet calls Bitcoin ’a real bubble’ offering no value

    October 27, 2017

    Summary: The iconic investor Warren Buffet doubles down on Bitcoin doubt Hong Kong Bitcoin community has definitely rejected the SegWit2x hard fork expected to occur in a middle of November Why more Bitcoin forks are likely to emerge in the future? Bitcoin (BTCUSD on xStation5 platform) has successfully tested a…

  • DE30 establishes its new all-time high following ECB meeting

    October 27, 2017

    Summary: All major European stock markets have begun the day broadly higher with the DAX (DE30 on xStation5) settling in at its new all-time peak DE30 blasts its local resistance and sky is the limit when it comes to how far we can go Linde (LIN.DE) leads the gains as…

  • US dollar leaps higher on ECB, budget

    October 27, 2017

    Summary: EURUSD slumps to 1.1620 on the ECB disappointment US dollar gains across the board after the House accepts budget European equities surge, DE30  nears 13200 The ECB proved to be a hit for the euro, just as we warned in our market alert (you can read the pre-ECB analysisi…

  • Economic calendar: Key test for USD ahead of the FED meeting

    October 27, 2017

    Summary: US preliminary GDP release for Q3 is by far the most noteworthy event today Swedish retail sales seem important after the Riksbank meeting Several central bank speakers on the agenda as well Friday is all about the US GDP preliminary release for the third quarter. It’ll be the first…

  • Euro drops and stocks rise as ECB extends QE

    October 26, 2017

    Summary: ECB extend their QE programme to Sep 18 at reduced rate of 30B/month All others rates kept unchanged. Euro drops lower whilst stocks rally IBEX soars as Catalan tensions ease US stocks mixed with earnings releases attracting attention  USD threatens to breakout as Yellen reportedly ruled out of re-election  Bitcoin…

  • US stocks mixed with earnings in focus

    October 26, 2017

    Summary: Mixed trade in US indices with US100 lower and US30 rising Ford and Twitter both surge after earnings release Alphabet and Amazon to report after the closing bell US stock indices are trading in a mixed fashion today with the US30 rising back near its all-time high but the…

  • Draghi avoids any fireworks. Euro drifting lower whilst stocks receive a boost

    October 26, 2017

    Summary: Draghi press conference provides no great shocks Overall tone erring on the dovish side Euro moving steadily lower. Stocks move to their daily highs ECB President Mario Draghi has just concluded his press conference following the earlier announcement that the central bank would extend their QE programme by 9 months at…

  • USDIDX tests key resistance; Yellen out of Fed chair race?

    October 26, 2017

    Summary: Reports that Yellen out of the race for next Fed chair US initial jobless claims come in at 233k USDIDX testing key resistance at 94 Unconfirmed reports that the incumbent Fed chair Janet Yellen has been ruled out of the running for remaining in the position beyond her current term…

  • ECB stays on hold, QE extended as expected

    October 26, 2017

    In line with expectations the European Central Bank decided to maintain all interest rates unchanged. Key points from the statement are as follows: QE will be extended by 9 months till September 2018 at a lowered pace equals 30 billion EUR (cut from 60 billion EUR per month until the…

  • IBEX soars as Puigdemont backs down on calling independence

    October 26, 2017

    Summary: Catalan leader Carles Puigdemont is going to back down on calling independence Puigdemont will dissolve the local parliament and call snap elections in December IBEX (SPA35) surges on the news as the domestic political risks abate While the European stock markets have thrived thus far the Spanish SPA35 has…

  • Equities downplay ECB risk while euro goes nowhere

    October 26, 2017

    Summary: Equity markets have held their gains so far despite a risk factor embedded in the ECB meeting Euro treads water, the greenback alike while NOK leads the losses German bonds trade flat in anticipation of Draghi’s appearance Oil trims its early losses following the pledge of Saudi crown prince…

  • What’s the price of Bitcoin Gold and why it matters for Bitcoin?

    October 26, 2017

    Summary: The estimated price of Bitcoin Gold could range from $0 to as much as $2900 Bitcoin (BTCUSD on xStation5) continues grinding higher after a successful test of a support zone Dash (DSHUSD) could be at a tipping point given a technical view There is no doubt that the recent…

  • Upbeat session in Asia despite a big drop seen on Wall Street

    October 26, 2017

    Summary: Asian indices have been able to add some gains despite the grim performance across the pond A string of gloomy earnings weighed on the US indices on Wednesday, both SP500 and Dow Jones marked their biggest declines since 5 September US dollar drops across the board, except for NZD…

  • CAD sinks as GBP soars; Stocks take a look lower

    October 25, 2017

    Summary: CAD drops sharply as BOC keep rates on hold GBP rallies as UK GDP beats forecasts US500 drops below 2550 as DE30 falls towards 12900. VOLX Jumps Surprise DOE build causes Oil to pause near 2017 highs Bitcoin falls to key support level US durable goods orders beat forecasts…

  • Surprise build in DOE inventories; Oil close to 2 1/2 year peak

    October 25, 2017

    Summary: Weekly DOE inventories rise to +0.9M vs -2.7M exp Large draw in Distillate and Gasoline inventories Brent Oil probing 2017 peak The latest DOE inventory numbers have shown a surprise build in the headline, with a reading of +0.9M considerably higher than the -2.7M expected or the -5.7M seen…

  • CAD plummets as BOC stand pat

    October 25, 2017

    Summary: BOC keep overnight range unchanged at 1.0% BOC postpones 2% inflation target achievement until H2 2018 Canadian dollar falling sharply Recently Bank of Canada (BOC) rate decisions have been accompanied with high levels of volatility for the Canadian dollar, and this afternoon’s event was no different. An unexpected hike…

  • BOC preview: A view form the major banks

    October 25, 2017

    The following are brief expectations for today’s BoC October policy statement as compiled from the related research reports of 8 major banks.   Overall, the consensus expects the BoC to maintain its policy unchanged.  Credit Agricole Research: We expect the BoC to remain on hold in line with market consensus. The…

  • More strong US data; Mnuchin “very excited” with progress on tax reform

    October 25, 2017

    Summary: US durable goods orders come in above forecasts US Treasury secretary Mnuchin "very excited" with progress on tax reform USD looks to recover whilst Gold sinks to 3-week low. Tnote breaks key support A busy afternoon of economic releases from North America has begun with some more solid data from the…

  • The ECB preview: Is euro at risk?

    October 25, 2017

    Summary: The ECB meeting (Thursday, decision 12:45pm BST, conference 1:30pm BST) is the most anticipated market event in October The Bank is expected to extend the QE program for 9 more months but reduce a scale of purchases. A scale of reduction could be crucial to market reaction on EURUSD…

  • Bitcoin respects key technical support. What next?

    October 25, 2017

    Summary: Bitcoin (BTCUSD on xStation5) managed to stay above a key support area, a bullish candlestick was drawn in the aftermath Central Bank of South Korea promises to carry out more in-depth research on digital currencies Ripple (XRPUSD) may be poised to resume its bullish trend as a promising candlestick…

  • DE30: Stocks trade flat despite fresh highs on Dow Jones

    October 25, 2017

    Summary: European stock markets have kicked off the day higher on the back of new highs seen on Dow Jones, they’ve lost steam since then German IFO beats estimates across the board being a support for the euro, not necessarily for the DAX (DE30 on xStation5) DE30 tries to stay…

  • Economic calendar: BoC and UK GDP on top 

    October 25, 2017

    Summary: Bank of Canada decision is the highlight in Wednesday’s calendar GBP will be in the spotlight due to the GDP report Oil traders will focus on the DOE report After somewhat sluggish start of the week the next three days could be very intensive with the BoC decision today,…

  • AUD plummets on a low inflation read

    October 25, 2017

    Summary: Inflation in Australia below expectations, AUD plummets AUDUSD breaks support at 0.7740 could see more downside AUDCAD sliding down, eyeing 0.9615 No interest rates hike are imminent in Australia as the third quarter brought weaker consumer demand and disappointing inflation and in the world where monetary policy is being…

  • EUR and USD rise on PMI beats

    October 24, 2017

    Summary: Better than forecast PMIs from the Eurozone boost the single currency USD also higher on balance after above consensus PMI data Records continue to fall for US stocks  Bitcoin falls as hard fork begins Oil price finely balanced ahead of inventory data NZD drops on government talk of RBNZ…

  • Oil sitting at key level ahead of inventory data

    October 24, 2017

    Summary: Brent Oil sits at pivotal level ahead of API and DOE releases Saudi determined to end oil glut OPEC said to work on exit strategy from supply cuts  A slide seen in Brent Oil this afternoon has seen the benchmark fall back lower and price is currently sitting at…

  • US data beats forecasts. Tnote to breakout and lead Gold and USD?

    October 24, 2017

    Summary: US flash manufacturing and services PMI both top forecasts US ten year bond (Tnote) close to potentially major breakout Gold and USD could be poised to follow suit This afternoon’s main economic releases from the US have exceeded consensus forecasts and provided further support to the recent rise in the US dollar.…

  • When will the record-breaking run for stocks end? 

    October 24, 2017

    Summary: More records fell for the US500 yesterday with a new all-time high at 2577 Blackrock chairman Fink sees market setback if tax reform fails Mcdonald’s narrowly misses with latest earnings but shares called to open higher 2017 has been a year of records for US stock markets with the…

  • Technical overview: OIL.WTI

    October 24, 2017

    Summary: Oil prices achieved balance, the US dollar performance seems to be a key factor for the commodity price WTI (OIL.WTI on xStation5) remains above a neck line being a part of an inverted head and shoulders pattern (SHS) Shorter-term time frames could bode well for the price of crude…

  • Oil edges higher along with the euro, AUD&NZD decline

    October 24, 2017

    Summary: Oil prices trade higher following fresh revelations from Kurdistan Euro remains one of the best currency across G10 space, Antipodean currencies lag behind Stocks hold onto moderate gains while Bitcoin (BTCUSD on xStation5) continues sliding Tuesday has been passing quite positively as stock markets have continued holding moderate gains…

  • Bitcoin could be on track to top Apple’s market capitalization

    October 24, 2017

    Summary: Bitcoin proponent Ronnie Moas predicts Bitcoin’s market capitalization could exceed Apple’s total market value Bitcoin (BTCUSD on xStation5) hands back some of its latest gains while its peers try to catch up Russia promises that initial coin offerings (ICOs) won’t "die" because of new regulations Bitcoin seems to be…

  • NZD tanks on new government comments

    October 24, 2017

    Summary: NZDUSD declines more than 0.5% on comments regarding possible RBNZ "reform" stocks in China slightly down, no major impact from Congress so far Gundlach, the "Bond King" warns about 2018 The New Zealand’s dollar is by far the weakest G10 currency in Asia as it still feels repercussions of…

  • Stocks rise on Japanese election. USD moving higher

    October 23, 2017

    Summary: Abe election victory lifts stocks around the globe JPY moves lower on expectations of further Abenomics USD gains with T-note and Gold under pressure Cryptocurrencies in the red with Bitcoin falling back below $6000 GBP dips in the afternoon as May gives Brexit update  In line with expectations, incumbent…

  • May updates parliament on Brexit; GBP drops into European close

    October 23, 2017

    Summary: UK PM May updates lawmakers on Brexit developments "EU summit made important progress on post-Brexit ties" BOE deputy Governor Cunliffe with dovish comments Today has been a fairly quiet start to the week for UK markets with the Pound and the UK100 both little changed. There has been a…

  • Wall Street opens at record highs; Tesla gains despite Saudi prince Alwaleed comments

    October 23, 2017

    Summary: The US session has begun with indices making record highs US500 closing in on 2600 level Tesla gains despite Saudi Prince Alwaleed "too exuberant comments" The US session has begun in a bullish mood with the Wall Street open seeing record highs as the positive sentiment from Abe’s election victory…

  • Technical overview: DE30

    October 23, 2017

    Summary: The ECB rate decision could rattle the German stock exchange Equivocal signals suggested by a weekly time frame DE30 remains above a 100% retracement which could prop up further rises The German DE30 was hit last month by concerns related to companies’ financial results as well as the Catalan…

  • USD on the rise. Decision on new Fed chair “shortly”

    October 23, 2017

    Summary: US dollar enjoying a bright start to the week Pre-recorded Trump interview says Fed chair decision to be made shortly Powell or Taylor seen as most likely candidates    There has been a fairly broad move higher in the US dollar today with the currency making gains against the majority…

  • Are US Treasuries going to bounce back?

    October 23, 2017

    Summary: US Treasury note (10Y) have approached a key technical support Declines have been fueled by renewed expectations regarding tax cuts A possible reversal pattern seen on a H4 time frame US 10Y Treasury note (TNOTE on xStation5) marked a slide on Friday which were sped up by mounting expectations…

  • Stocks speed up their gains amid calm FX session

    October 23, 2017

    Summary: European stock markets have increased their gains after the moderately optimistic beginning of trading FX market remains little changed but the US dollar is bid anyway Bitcoin wipes off its crazy rises made over the weekend The beginning of the fresh week has been relatively calm thus far but…

  • Bitcoin smashes $6000 as another fork nears

    October 23, 2017

    Summary: Bitcoin (BTCUSD on xStation5) breaks above $6000 for the first time ever The so-called Bitcoin gold fork is scheduled to take place this Wednesday (25 October) Other cryptocurrencies suffer from a rally seen on Bitcoin as traders want to cash in on the split South Korea is going to…

  • JAP225 surges as Abe wins in Japan

    October 23, 2017

    Summary: Shinzo Abe wins in Japans, holds his grip on power for 4 more years Yen declines on a prospect of more Abenomics, JAP225 rallies over 1% China slightly down despite records on Wall Street Catalonia weighs on European opening  No surprises in Japan - Abe’s LDP along with its…

  • Economic calendar: Will ECB’s Draghi make a groundbreaking decision?

    October 23, 2017

    Summary: ECB meeting is the most crucial event scheduled for this week Will BoC decide to hike rates for the third time this year? Initial GDP reading from the UK could shake the pound once again, a release from the US will take place as well The beginning of the…

  • Trump Trade comes back, Bitcoin at record highs

    October 20, 2017

    Summary: USD and Wall Street move higher as the US Congress takes a step closer to the tax-cut reform Bitcoin rallies to new record highs Disappointment in Canadian data dampens expectations for another rate hike from BoC The US Senate approved a budget blueprint for the 2018 fiscal year which enables…

  • Trump Trade comes back, Bitcoin at record highs

    October 20, 2017

    Summary: USD and Wall Street move higher as the US Congress takes a step closer to the tax-cut reform Bitcoin rallies to new record highs Disappointment in Canadian data dampens expectations for another rate hike from BoC The US Senate approved a budget blueprint for the 2018 fiscal year which enables…

  • USDJPY nears crucial resistance as Japanese election looms

    October 20, 2017

    Summary: LDP’s Abe is anticipated to achieve an easy victory in the Sunday’s election Investors withdrew as much as $4.4 billion from Japanese equity funds till the past Wednesday ahead of the snap election this weekend USDJPY approaches a key technical resistance, changes on the bond market help The Japanese…

  • GBP resists greenback’s strength while CAD awaits crucial data

    October 20, 2017

    Summary: USD is still the strongest currency in G10, however GBP gains alike US bond yields are on the rise being a support of the greenback but German bund yields increase as well CAD little changed as traders await crucial macroeconomic reports Today is all bout the US tax reform…

  • Is Bitcoin heading to $10k? Noteworthy CNBC survey

    October 20, 2017

    Summary: Bitcoin (BTCUSD on xStation5) could be heading to $10k or beyond according to a CNBC survey The price of Bitcoin has failed to break above $5800 once again Swedish govt auctioned off Bitcoin at above market rates After Bitcoin and other digital currencies erased their losses on Thursday, volatility…

  • Economic calendar: The day of reckoning for the CAD

    October 20, 2017

    Summary: Canadian inflation and retail sales reports are bound to draw the most attention today US existing home sales worth looking at as well Two central bank speakers scheduled for today and Yellen shortly after midnight The last day of this week is likely to be dominated by the Canadian…

  • US dollar grinds higher as Senate passes Trump’s tax agenda

    October 20, 2017

    Summary: US Senate approves a multi-trillion dollar budget which is "a first step towards massive tax cuts" according to Donald Trump USD flexes its muscles being the strongest currency in G10, the US10Y yield adds almost 4bps NZDUSD continues sliding following political tailspin and USD’s strength The US Senate voted…

  • Stocks dip on Black Monday anniversary

    October 19, 2017

    Summary: Notable selling today with the US500, DE30 and UK100 all lower Declines come on the 30th anniversary of Black Monday Apple shares slide on iPhone production concerns Gold and Bitcoin on the rise Pound sinks on soft retail sales number On this day back in 1987 the US stock…

  • How does the present US stock market compare to 1987? 

    October 19, 2017

    Summary: Today is the 30th anniversary of Black Monday Given the rise seen in recent years several comparisons have been made However the two scenarios are in fact quite different We earlier noted that today marks the 30th anniversary of Black Monday and looked at the difference between the Dow…

  • Apple drops weighing on the US100

    October 19, 2017

    Summary: Shares in Apple open lower after reports of poor demand for iPhone 8 The stock has potentially reversed after recent gains Drop has weighed on the broader US100 index Worrying reports surrounding the production of the iPhone 8 have seen Apple’s stock open lower this afternoon, with shares currently…

  • Technical overview: GOLD

    October 19, 2017

    Summary: A close correlation between gold prices and T-Note is a key factor determining the future of the precious metal A strong resistance can be found at a monthly time frame Some signs heralding a potential rebound of gold prices Gold prices and the US 10Y bond price (T-Note on…

  • Strong US data sees Gold turn at possible resistance level

    October 19, 2017

    Summary: US initial jobless claims fell to its lowest level since 1973  Philly Fed rises to 27.9. Employment component hits all-time high Gold respects resistance following the release at 1289 Two strong data points from the US have caused the move higher seen in Gold this morning to pause in its…

  • Equities tumble all around the world, Catalan crisis reignites

    October 19, 2017

    Summary: Equity markets plunged across the board as a spectrum of Black Monday weighs on, IBEX takes a hit as Catalonia-related risks mount NZ dollar leads the losses in G10 following the major (and unexpected) reshuffle at the political scene, GBP declines on feebler retail sales, a safe haven flow…

  • Cryptocurrencies recover. Is Bitcoin the new gold?

    October 19, 2017

    Summary: Major digital currencies are recouping their yesterday’s losses following the Bitcoin’s U-turn Dash (DSHUSD) draws a noteworthy candlestick. Is it already time to buy? Goldman Sachs denies that Bitcoin (BTCUSD on xStation5) is or could become the new gold The sell-off of cryptocurrencies didn’t persist too long. After a…

  • Could Dow Jones repeat a 20% decline in one day?

    October 19, 2017

    Summary: Today marks the 30th anniversary of the Black Monday in the US when Dow Jones tumbled above 20% during a single session Markets were in a similar stage of a rally in the peak of 1987 as they are now There are some similarities but also one remarkable difference…

  • Economic calendar: Will UK retail sales impact BoE’s verdict?

    October 19, 2017

    Summary: UK retail sales is the most crucial release during the day Some less relevant data from the US economy A few central bank speakers scheduled for the next hours This week has been quite stormy for the British pound so far as the currency got equivocal data regarding the…

  • AUD gets upbeat data but NZD steals the show

    October 19, 2017

    Summary: Australian jobs report proves better than expected, however a structure of employment growth is less encouraging Chinese GDP beats the forecast, other reports solid as well NZD tumbles over 1% on political turmoil as NZ First Party leader Peters announces his decision after the election The Asian session abounded…

  • Sharp declines seen in crypto; stocks make more ATHs

    October 18, 2017

    Summary: Significant selling seen in crypto today with Bitcoin falling by 8% IBM jumps higher and lifts US30 to record highs; DE30 surges to all-time high USD higher but housing data disappoints. Gold rises from lowest level in a week Oil slips despite DOE draw UK wage growth rises but…

  • Another DOE drawdown but Oil dips back below $58

    October 18, 2017

    Summary: DOE inventories -5.7M vs -4.7M exp and -2.7M prior However, Cushing and Distillate rise by more than expected  Oil searches for direction close to 2017 peak The weekly DOE inventory release has seen yet another drop in the weekly with the decline marking a 4th consecutive decrease. A reading…

  • IBM share soar to lift indices to new highs

    October 18, 2017

    Summary: IBM has risen almost 8% after it latest earning release Tech giant beat analyst expectations on both the top and bottom line Fresh all-time highs in all major US indices Despite posting a 22nd second consecutive decline in revenues for the last quarter, IBM has seen a strong move…

  • US housing data disappoints; USD remains higher on the day

    October 18, 2017

    Summary:  US building permits and housing starts both miss forecasts Soft data causes USD rise to pause Gold attempts to rise from its lowest level in more than a week The most recent data on the US housing market has come in as something of a disappointment with both building permits…

  • USD gains along with equities while bonds lose steam

    October 18, 2017

    Summary: The European equity markets have gained so far while the US dollar has been the strongest currency in G10 German and US bonds take a breather, yields’ gains affect the FX market GBP in a slight retreat following a mixed bag of the labor market data The beginning of…

  • Cryptocurrencies put the brakes on their rally

    October 18, 2017

    Summary: Bitcoin (BTCUSD on xStation5) drops 5%, other digital currencies follow Bitcoin is the most energy-consuming cryptocurrency according to ING Litecoin (LTCUSD) approaches a crucial support line being a potential opportunity to enter a long It seems that after a period without heightened volatility across major digital currencies things are…

  • DE30 surges above 13000 to all-time high; Where next?

    October 18, 2017

    The DE30 has followed in the path of its US counterparts (US30) in breaking higher this morning to post a new record all-time high. The market has now rallied by more than 30% since last November’s low and there are some suggestions that price could be overbought with the RSI…

  • Economic calendar: GBP in the spotlight again

    October 18, 2017

    Summary: UK jobs report should steal the show during the day Housing data from the US economy Oil inventories data provided by DoE Today is all about the British pound once again. We got the solid inflation report yesterday which, in case of the UK economy, wasn’t welcome by FX…

  • USD and US stocks rise higher; GBP falls despite CPI neart

    October 17, 2017

    Summary: US indices add to their rally. US30 tops 23000 for first time USD also moving higher whilst Gold sinks UK Inflation hits highest level since 2012 but GBP drops Oil.WTI remains close to 2017 highs Stock markets across the Atlantic continue to break records with the US30 this afternoon…

  • GDT suffers consecutive declines; NZDUSD drops to weekly low

    October 17, 2017

    Summary: Global Dairy trade auction shows decline of 1.0% Second consecutive decline for the Milk benchmark NZDUSD lower by half a percent on the day The most recent result of the global dairy trade (GDT) auction has shown a decline of 1.0% for the price index - the second drop…

  • Gold takes a tumble as USD rises

    October 17, 2017

    Summary: Gold prices have dropped some $20 in the past 24 hours Rise in USD also seen as Fed chair comes into focus Industrial production shows little ill-effects of hurricanes One of the biggest movers in the last 24 hours has been gold with the market tumbling and shedding some…

  • Technical overview: OIL.WTI

    October 17, 2017

    Summary: The latest developments in the Middle East affect oil prices An inverted head and shoulders formation could encourage to enter a long in the long-term A key support line seems to be placed in the vicinity of $51.7 There is no doubt that the latest developments in the Middle…

  • Banks set to open higher as US30 approaches 23000

    October 17, 2017

    Summary: US Banks are set to open higher after the latest trading updates Goldman Sachs and Morgan Stanley both higher in pre-market trade US30 makes new all-time high and closing in on 23000 The latest earnings releases from Goldman Sachs and Morgan Stanley have been warmly greeted by investors with…

  • Carney doesn’t buttress GBP, USD gains ground

    October 17, 2017

    Summary: USD gains ground across the board while GBP lacks bullish momentum despite higher inflation NZD resists the strong greenback following higher than expected CPI ZAR suffers after Zuma named a close ally as energy minister and dismissed the leader of the communist party Tuesday on the FX market has…

  • Australian Bitcoin adoption increases but the price treads water

    October 17, 2017

    Summary: Australian Bitcoin adoption increases after some regulatory amendments A possible trade opportunity may occur on Dash (DSHUSD) RBC’s CEO has "real concerns" about Bitcoin (BTCUSD on xStation5) but he abstains from calling the cryptocurrency a fraud The beginning of the week has been remarkably benign in terms of the…

  • Economic calendar: CPI and Carney could shake the pound

    October 17, 2017

    Summary: UK inflation data might be especially relevant for the GBP at this juncture US industrial production could be affected by the hurricanes Several central bank speakers on the agenda with BoE’s Carney being a cherry on top Tuesday seems to be all about the inflation report from the British…

  • NZ inflation beats forecast but political turmoil weighs on NZD

    October 17, 2017

    Summary: NZ official inflation data shows CPI at 1.9% yoy in September but RBNZ’s measures remain lackluster First Party’s leader Peter hasn’t made yet a decision who to back after the elections Milk auction will take place this afternoon The NZ dollar got a little boost yesterday evening when the…

  • Commodities rise as Spanish stocks fall back

    October 16, 2017

    Summary: Palladium hits highest level since 2001 after breaking above $1000 CAD and MXN drop as Nafta talks progress Spanish stocks fall on more Catalan disputes USD mixed despite Empire State beat The start of the week has seen some strong gains for commodity markets with Palladium leading the charge…

  • Latest Nafta talks weigh on MXN and CAD

    October 16, 2017

    Summary: US lays out most aggressive Nafta demands to data More likely Trump will give notice to withdraw says official Reports have weighed on MXN and CAD The Canadian dollar and Mexican Peso are coming under some selling pressure today following reports that the Trump administration has made its most aggressive…

  • Empire state beats forecasts; USD mixed on the day

    October 16, 2017

    Summary: October Empire Fed manufacturing survey 30.2 vs 20.5 exp Employment index 15.6 vs 10.6 prior - highest since early 2015 USD little changed on the day. USDJPY falls back near 200 day SMA Friday saw a disappointing US CPI reading threaten to derail the recovery seen in the US dollar over…

  • Spanish stocks fall as Spain sets Catalan deadline

    October 16, 2017

    Summary: SPA35 drops towards last week’s low and below 10200 Fall comes as Spain rejects Puigdemont’s response on independence issue 10AM Thursday set as deadline for Puigdemont to back down Last week saw Spanish stocks recover following a sharp fall at the start of the month after Catalan leader Carles…

  • FX, bonds, equities muted as commodity market draws attention

    October 16, 2017

    Summary: Oil prices have started off the new week on the right foot amid fights taking place in Iraq Palladium prices have marked their highest level since 2001 on surging demand from carmakers GBP is grinding higher in anticipation of May’s meetings with EU leaders, CAD underperforms as NAFTA fears…

  • Is palladium valuation already stretched?

    October 16, 2017

    Summary: Palladium strikes the highest level since 2001 making a local peak above $1000 The metal has been one of the best commodities this year advancing as much as 48% and leaving its peers way behind Positioning data has yet to suggest overvaluation, the palladium-based ETF tests a crucial support…

  • Bitcoin market capitalization nears $100 billion

    October 16, 2017

    Summary: There is a benign beginning to the week across virtual currencies Bitcoin market capitalization approaches amazing $100 billion "Cryptoruble" has been allegedly ordered to be issued by the Russian President Vladimir Putin All major cryptocurrencies have had a benign beginning to the new week which means that Bitcoin (BTCUSD…

  • DE30: European stock markets subtly higher as new week unfolds

    October 16, 2017

    Summary: European equity markets have opened marginally higher despite some political uncertainties in Germany and Austria DAX (DE30 on xStation5) gets out of a consolidation Daimler (DAI.DE) rises despite a stricter CO2 emissions cuts’ proposal The beginning of the new week is quite calm despite some political risks which came…

  • Economic calendar: Big week for Antipodean currencies

    October 16, 2017

    Summary: Monday is all about inflation from the New Zealand’s economy Avalanche of important reports from the UK amid discussions about the future course of the BoE’s policy National Congress in China and GDP data on the spotlight later this week This week is going to be crucial for the…

  • Merkel beaten in Lower Saxony, USD gains ground

    October 16, 2017

    Summary: Merkel’ CDU posted its worst election result in Lower Saxony since 1959 Euro subtly lower, German 10Y bund slightly higher Chinese inflation mixed with PPI easily exceeding expectations After the victory in the federal election three weeks ago, Angela Merkal had to concede defeat on Sunday when her CDU…

  • Stocks and Bitcoin set to end the week with record highs

    October 13, 2017

    Summary: US500 makes another all-time high; DE30 trades above 13000 Bitcoin continues to rally with another record peak; other crypto markets joining in US data weighs on the greenback Oil looking to end good week near its highs  The US500 looks set to post more record highs today with the…

  • Uni Mich hits 13-year high but inflation expectations fall

    October 13, 2017

    Summary: University of Michigan consumer sentiment index rises to 101.1  Reading is the highest since 2004 Inflation expectations fall however; USD remains lower The final macro release of the week on the US economy has sent mixed messages for the US dollar which remains firmly lower on the day following the…

  • US stocks make further gains but Wells Fargo falls

    October 13, 2017

    Summary:  US500 jumps to new record high Stocks rise on US data release Wells Fargo slumps after poor results  The US500 has looks set to post more record highs today with the market on course for an all-time closing peak and already has posted an intra-day record of 2555. The…

  • Another miss in inflation threatens to end USD recovery

    October 13, 2017

    Summary:  US CPI misses forecasts for both headline and core reading Retail sales also miss although core reading beats USD comes under pressure; Gold spikes higher The biggest economic release of the day has seen a quick swoon in the US dollar with the greenback falling after both the US…

  • Antipodean currencies in the lead, USD stays unfazed ahead of the US data

    October 13, 2017

    Summary: New rumors concerning the ECB’s QE programme didn’t significantly affect EUR USD stays on hold awaiting crucial inflation and retail report from the US Antipodean currencies advance on the back of rising commodity prices, the Chinese data disappoints though  The Friday morning didn’t bring a higher volatility. European stocks…

  • Oil poised to report a massive weekly gain

    October 13, 2017

    Summary: Oil prices are set to end up this week with a massive gain following three fundamental reports Stocks of crude in Cushing have swollen of late affecting the short-end of the WTI forward curve WTI oil prices (OIL.WTI on xStation5 platform) are trading with a hefty discount to their…

  • Bitcoin surges to all-time high; where next?

    October 13, 2017

    Bitcoin has rallied strongly this week with the price rising in excess of $1000 and surging through the $5500 level to trade at a new all-time high. With the market sitting on gains in excess of 90% from its September low is it due a pullback or will there be…

  • Ethereum and Litecoin follow Bitcoin’s rally

    October 13, 2017

    Summary: A rally seen on Bitcoin (BTCUSD on xStation5) encouraged investors to pour their money into Ethereum (ETHUSD) and Litecoin (LTCUSD) Russian regulators confirm that cryptocurrencies will be officially regulated in the country PBoC could consider launching its own centralized state cryptocurrency A Bitcoin’s rally has continued over the course…

  • DE30: Buyers failed to break higher

    October 13, 2017

    Summary: European indices have begun the day equivocally, the FTSE100 (UK100 on xStation5) drops on the stronger pound DAX (DE30) has failed to break a short-term resistance Thyssenkrupp (TKA.DE) declines more than 1.5% following a negative call The European equity markets have begun the day quite mixed snubbing remarks coming…

  • EURUSD – recommendation from Credit Suisse

    October 13, 2017

    Credit Suisse has issued a recommendation for EURUSD currency pair.  The Bank recommends taking a pending long position on the pair with following levels: buy limit: 1.1815 take profit: 1.2100 stop loss: 1.1760  Credit Suisse recommends taking a long position with a limit (1.1815) with a target of 1.2100 and a stop at 1.1760. Source: xStation5  

  • Economic calendar – USD awaits a crucial test

    October 13, 2017

    Summary: CPI readings from the US should be crucial for USD US retail sales data could be distorted to some extent given the impact of the hurricanes A few central bankers are out today The CPI figures form the US are in the spotlight today as the inflation has become the…

  • First ECB rumors, Chinese trade balance disappoints

    October 13, 2017

    Summary: ECB could extend its QE until at least September 2018 with a lowered volume Chinese trade balance shrinks the most since March this year RBA Financial Stability Review offers a slight boost for the Australian dollar Although, we are still approximately two weeks before the ECB meeting, first rumors…

  • Bitcoin surges to record high; GBP falls lower

    October 12, 2017

    Summary: Bitcoin hits new all-time high US PPI and initial jobless beat forecasts but USD still mixed GBP slides after "deadlock" following latest Brexit talks  DOE drops once more but Oil unimpressed The main story of the day comes form Bitcoin with the cryptocurrency surging higher by more than 10%…

  • DOE reports another drawdown but Oil fails to rally

    October 12, 2017

    Summary: Weekly DOE report shows drop of 2.7M (vs -1.9M exp) in US inventories Release contrasts last night’s API build of 3.1M Oil reacts negatively with Brent falling to its lowest level of the day Despite a drop in the weekly DOE inventory report the price of Oil has come…

  • Upbeat US data offers USD chance to advance

    October 12, 2017

    Summary: US Core PPI and initial jobless claims both beat forecasts USD index on the rise after earlier hitting 2-week low Gold pulls back from 1300/oz Some positive data from across the Atlantic has provided a boost to the US dollar after the greenback earlier fell to a 2-week low.…

  • GBP falls as Brexit talks hit “deadlock”; UK100 near 4-month high

    October 12, 2017

    Summary: GBP lower across the board after conclusion of latest Brexit talks Barnier warns that talks are at a "deadlock" GBPJPY back at potentially key support from 146.90-147.70 The Pound has experienced a sharp move to the downside in the past couple of hours after the conclusion of the most…

  • Antipodean currencies on the rise, Brexit talks weigh on GBP

    October 12, 2017

    Summary: Swedish inflation report deals a blow to the SEK GBP lowers on the back of a deadlock in Brexit talks Oil prices steady, grains march slightly higher ahead of the key WASDE report The US dollar hasn’t been able to recoup its losses made during the Asian session thus far…

  • Bitcoin establishes its new all-time high

    October 12, 2017

    Summary: Bitcoin (BTCUSD on xStation5) soars almost 7% and makes its new all-time peak While BTC gains momentum while its major peers lag behind Some reports suggest that trading of cryptocurrencies in China could resume Bitcoin’s buyers have gone nuts once again as the price of the most famous digital…

  • Swedish inflation sends the SEK much lower

    October 12, 2017

    Summary: Swedish CPI disappoints in September across the board, clothing and footwear among culprits SEK tumbles following the inflation report as a first rate hike becomes more distant EURSEK could be rising in the nearest future, the bond market could put the brakes on a rally though Swedish inflation fell…

  • Economic calendar: Oil and central bankers could steal the show

    October 12, 2017

    Summary: Swedish inflation is expected to accelerate significantly, the SEK could be vulnerable US PPI may be a precursor ahead of tomorrow’s CPI report EIA will reveal its weekly change of oil stocks An avalanche of central banks’ speakers during the day Thursday seems to be pretty interesting when it…

  • USD slides ahead of Fed minutes. Spanish stocks look to recover

    October 11, 2017

    Summary: USD drops with JOLTS number disappointing SPA35 recovers and nears key level Oil a little lower despite upbeat OPEC report; BP shares at 2017 peak Crypto little changed despite Putin comments It’s a relatively quiet day of economic release with the US JOLTS openings the only data out of…

  • A longer term view of the SPA35; Major breakout ahead?

    October 11, 2017

    Summary: SPA35 recovers following suspension of Catalan independence Price now at a potentially critical level Move above 10350 could signal major breakout There’s been high levels of volatility in the Spanish stock market this month with the leading IBEX benchmark (SPA35 on xStation) falling sharply before recovering strongly yesterday. The…

  • Fall in JOLTS will do little to aide the USD

    October 11, 2017

    Summary: JOLTS job openings for August falls to 6.08M vs 6.13M exp This indicator has consistently beaten forecasts in 2017 USD vulnerable heading into FOMC minutes It’s a relatively quiet day of economic release with the US JOLTS openings the only data out of note. Whilst this number doesn’t attract…

  • Oil deficit seen in Q3. What next for oil prices?

    October 11, 2017

    Summary: OPEC revised up its oil demand forecasts due to higher economic growth across economies, supply forecasts cut The latest rally seen in oil prices is being supported by the OPEC report September’s Cartel oil output picks up compared to the prior month The latest OPEC report outlined the rosy…

  • Eurodollar digests developments in Spain and awaits FOMC minutes

    October 11, 2017

    Summary: Spanish stocks  thrive on as the Catalan’s government suspended a declaration of independence EURUSD eases somewhat its rebound started this week Investors await the minutes of the last FOMC meetings Markets were calm this morning. The biggest moves could be spotted at the Spanish stocks which rebounded on the back of suspending immediate declaration…

  • Russia considers taxing miners, Putin backs up cryptocurrencies

    October 11, 2017

    Summary: Russian President Vladimir Putin tells central bank not to create unnecessary barriers to digital currencies Litecoin (LTCUSD on xStation5) hovers above a key trend line Russia’s finance minister proposes registering cryptocurrency miners to increase tax collection Russian is one of the most interesting countries to watch in terms of…

  • Stock of the week – Reckitt Benckiser

    October 11, 2017

    Summary: Reckitt Benckiser’s valuation (RB.UK on xStation5) has eroded which may pose an interesting opportuning given its solid position in the market Brokerage houses see over 14% upside for the company’s market cap in the next 12 months Reckitt Benckiser stock is rebounding from an important support Reckitt Benckiser is…

  • Economic calendar – FOMC minutes in the spotlight

    October 11, 2017

    Summary: Release of the FOMC minutes is a key event today We will get two reports on oil market - from OPEC and API A few central bankers are scheduled to deliver speeches  Wednesday’s data-wise is rather calm, although the release of the FOMC minutes in the evening will be…

  • Signed and suspended – Catalan independence held off

    October 11, 2017

    Summary: Catalonia’s leader Carles Puigdemont signed but suspended a declaration of independence  Euro popped higher on the Catalan leader’s speech, gains were contained though Japanese machinery orders could bode well for capital investments Although Catalan leader Carles Puigdemont decided to sign a declaration of independence from Spain he also chose…

  • USD drop boosts Gold and Oil  

    October 10, 2017

    Summary: USD on track for its largest drop in a month Fall in the buck has boosted both Gold and Oil CAD moving higher after rise in housing starts Bitcoin rallies back near 5000 GBP adds to Monday’s gains on mixed UK data The US dollar is seeing some selling…

  • Greenback coming back under pressure

    October 10, 2017

    Summary: USD has been hit by a wave of selling today USDIDX threatening to break below 93 Gold hits two week high above 1290/oz The US dollar is seeing some selling pressure today with the buck falling against practically all of its peers with only Bitcoin and Dash failing to appreciate against…

  • Oil moves higher on supply cut hopes

    October 10, 2017

    Summary: Oil gains on Saudi and OPEC talk Price recently held important support at 54.90 Market finely poised heading into inventory releases One of the biggest risers today is Oil, with Brent moving back above the $56 level and currently sitting on gains of almost 2%. The gain could be…

  • CAD edging higher after housing data releases

    October 10, 2017

    Summary: Canadian housing starts rise more than expected However, building permits decline by the most in 5 months CAD edging higher with USDCAD retesting the 1.25 handle There has been much speculation surrounding the health of the Canadian housing market of late, with recent rate hikes from the Bank of…

  • USD pulls back, GBP holds firm after mixed data

    October 10, 2017

    Summary: USD retreats as there are fresh concerns over support for planned tax-cut reform By and large GBP ignores worrying package of UK data Investors in Europe await a pivotal session of Catalan’s parliament, hence sentiment is mixed This morning we saw a board-based weakness of the US dollar as some reports…

  • Bitcoin surges as another fork  could be around the corner

    October 10, 2017

    Summary: Bitcoin (BTCUSD on xStation5) has surged of late owing to an increased demand fueled by another possible fork Bitcoin draws attention of the Tanzanian central bank, the bank is cognizant of risks associated with digital currencies though Ripple (XRPUSD) wipes off yesterday’s gains, a resumption of an increase could…

  • UK record trade deficit overshadows better industrial data

    October 10, 2017

    Summary: UK economy experiences the highest trade deficit on record Industrial output and manufacturing production beat forecasts, prior releases revised up Pound traders get a murky package of data but the GBP remains underpinned anyway The outlook of the UK’s economy is still exceptionally hard to predict given the volatile…

  • DE30: Softer beginning on Tuesday, IBEX retreats slightly

    October 10, 2017

    Summary: Major equity markets have started the session subtly lower irrespective of strong performance across Asian markets IBEX (SPA35 on xStation5) gives back its gains somewhat in anticipation of a key speech of Puidgemont  An ominous candlestick drawn on the German DAX (DE30) could challenge a further increase European stock…

  • 3 markets for contrarian investors

    October 10, 2017

    Summary EURUSD rally has faded, is here a chance for a larger pullback? GBPNZD to test resistance as traders become bullish on the pound Cocoa prices could bottom up In this analysis we revisit a concept of speculative positioning. The data that is reported by the CFTC each week shows…

  • KOSPI surges to all time high after a holiday

    October 10, 2017

    Summary: Good moods dominate in Asia, Korean index surges to all time highs AUD gains as we see profit taking from the latest US dollar rally NOK struggles after disappointing inflation print South Korean equity market was down for more than a week and a session on Tuesday was the…

  • Stocks remain near record highs as GBP looks to recover

    October 9, 2017

    Summary: US stock markets and the DE30 trade close to all-time highs GBP attempts to recover recent declines Turkish Lira sinks on US-Turkey clash Bitcoin rises to 1-month high  The remarkable rally seen in US stock markets continues to show little signs of ending, with the US100 rising further today…

  • Technical overview of Crypto

    October 9, 2017

    Summary: BTCUSD hits 1-month high after breaking above 4400 ETHUSD continues to be capped by 311 XRPUSD attempting to break higher Sunday saw some fairly significant technical developments for cryptocurrencies. Let’s look at the charts of Bitcoin (BTCUSD), Ethereum (ETHUSD) and Ripple (XRPUSD) and see what this could mean going…

  • GBP attempts to recoup recent losses

    October 9, 2017

    Summary: GBP the best performer in G10 Currency rising across the board after notable drop last week GBPJPY retests key breakout level The pound is the best performer of all amongst the G10 currencies today, as the next round of UK-EU Brexit negotiations begins. This is now the 5th round…

  • Wall Street braces for new earnings season

    October 9, 2017

    Summary: A new earnings season on Wall Street kicks off this week The expected earnings growth rate for the S&P500 (US500 on xStation5) for the third quarter has declined due to natural disasters It still may be the fifth consecutive quarter of yoy earnings growth of S&P500 and the actual results usually beat…

  • Spanish stocks rebound, GBP leads in G10 basket

    October 9, 2017

     Summary: Fading chances of Catalonia declaring independency push Spanish stocks higher GBP is the strongest currency amid its G10 peers this morning as PM May tries to reassert her position and there was a revision of Q2 labour costs Turkish lira retreats due to political tensions between USA and Turkey…

  • Malaysian central bank to decide on cryptocurrency regulations

    October 9, 2017

    Summary: Bitcoin (BTCUSD on xStation5) is gaining a foothold as Chinese traders are back after the Golden Week Malaysian central bank will decide on cryptocurrency regulations by the end of the year Ethereum (ETHUSD) runs into a major resistance, the price seems to be set to get out of a…

  • Turkish lira knocked down on Turkey-US clash

    October 9, 2017

    Summary: USDTRY has popped to the highest since the beginning of the year US and Turkey have mutually suspended their non-immigration visa services Turkish lira’s volatility term structure spikes at the front end of the curve The Turkish lira has weakened against the US dollar the most since the beginning…

  • DAX starts higher, IBEX surges on fading risk of independence

    October 9, 2017

    Summary: Major European stock markets have begun the new week on the right foot German DAX (DE30 on xStation5) may see just a shallow correction within its uptrend Spanish IBEX (SPA35) surges immediately after the beginning of trading on a fading risk of a unilateral declaration of independence A huge…

  • Economic calendar: Pivotal week ahead of US dollar

    October 9, 2017

    Summary: ECB speakers will deliver their speeches on Monday Several crucial macroeconomic releases from the US economy this week The conference held by Institute of International Finance in Washington will be an opportunity for key central bankers to express their view about the future of monetary policy Monday is relatively…

  • N. Korea rumours usurp NFP

    October 6, 2017

    Summary: Reports of a planned N.Korea missile launch send Gold higher and USD falling NFP comes in negative for first time since 2010 CAD on the rise despite lower than expected Canadian employment change ECB considers legal restraints on Bitcoin Several markets have reversed their earlier course heading into the weekend…

  • N. Korea rumours rattle markets; Gold spikes higher and USD hit

    October 6, 2017

    Summary: Rumours that N.Korea set to test missile over the weekend Missile said to be capable of hitting west coast of US Gold hits high of the day after dropping on NFP In recent moments there are several reports on social media that North Korea could be set to carry…

  • Canadian jobs miss; where next for Cad?

    October 6, 2017

    Summary: Canadian employment change: +10k vs +12k exp +22k prior However, large rise in full-time jobs and better than expected unemployment CAD rising on the day Whilst the US NFP takes the Lion’s share of attention on the first Friday of every month, the Canadian equivalent is equally important for…

  • Negative NFP for 1st time in 7 years but USD standing firm

    October 6, 2017

    Summary: US NFP for September -33k vs +82k exp and +169k prior Unemployment rate falls to 4.2%; lowest level since 2001 Average earnings rise 2.9% y/y USD higher post release with Gold falling to 2 month low  The US NFP release is one of the most hotly anticipated of them…

  • AUD and GBP drop, markets await crucial US data

    October 6, 2017

    Summary: US dollar ahead of the NFP report strongly gains against Antipodean currencies and UK pound Sentiment on European stocks is mixed, Spanish IBEX (SPA35) and Italian FTSEMIB (ITA40)  lead losses Besides the NFP report we also get job report from Canada this afternoon Morning in Europe was quite calm as…

  • ECB considers legal restraints against Bitcoin

    October 6, 2017

    Summary: ECB is discussing ’legal restraints’ for Bitcoin and other digital currencies, Nowotny says Ripple (XRPUSD on xStation5) could be poised to make a leg higher Russian central bank pushes for national cryptocurrency All major cryptocurrencies have begun the last trading day this week on the right foot with several…

  • DE30: Mixed sentiment on the opening in Europe

    October 6, 2017

    Summary: Most of indices in Europe hold steady as investors prepare for crucial NFP report from the US, Spanish stocks come back in the red DAX (DE30 on xStation5) sticks to its record highs  Daimler (DAI.DE) announces September vehicle sales figures European stocks were little changed on Friday morning despite positive sentiment on Wall Street. Although…

  • Japanese politics: Will ’Yurinomics’ replace ’Abenomics’?

    October 6, 2017

    Summary: Party of Hope’s leader Koike sketches out her campaign promises "Yurinomics" could result in a hefty injection of liquidity Japanese snap election will take place on 22 October, Abe is expected to win Politics has played a major role across the developed economies so far this year. We’ve had…

  • Economic calendar – All eyes on NFP report

    October 6, 2017

    Summary: US dollar awaits the crucial NFP report due at 1.30 pm BST We also get a similar report from Canadian economy Batch of central bank speakers on the agenda The NFP report is the key event today. The publication may decide if the current USD rebound is to continue. Moreover,…

  • AUD slammed on fresh rate cut talks

    October 6, 2017

    Summary: AUD tumbles overnight as RBA’s Harper doesn’t rule out a rate cut Australian construction PMI slides in September adding pressure on AUD GBP takes a hit following a shambolic PM May speech The Australian dollar hasn’t had a successful week as of yet, as it’s gotten a triple whammy…

  • Stocks continue to rally; USD on firm footing ahead of NFP

    October 5, 2017

    Summary: US stock indices make another record high SPA35 bounces strongly after recent decline  USD gains on solid economic data ECB minutes have little impact on the Euro Another day, another record for US stocks. The remarkable rise in the stock market across the Atlantic is showing little sign of letting…

  • US stocks close to matching 20-year old winning streak

    October 5, 2017

    Summary: US500 moves above 2540 to post record high Market on track for longest winning streak since 1997 US100 breaks through 6000 for first time ever Another day, another record for US stocks. The remarkable rise in the stock market across the Atlantic is showing little sign of letting up with today…

  • Spanish stocks jump as Catalan leaders divided on independence

    October 5, 2017

    Summary: Catalans stall independence push with leaders divided SPA35 higher by more than 2% on the day Market seeking to recoup large recent losses The developments surrounding the Catalan independence vote last Sunday have caused large moves in the Spanish stock market this week, with Wednesday marking the largest single-day…

  • USD attempts to rise after initial jobless beat

    October 5, 2017

    Summary: Weekly initial jobless claims 260k vs 266k exp and 272k prior 3rd time in the past 4 readings this release has beat forecasts EURUSD falls to possible key support at 1.1720 This afternoon is relatively light on the data front with the release of initial jobless claims arguably the…

  • Euro unfazed as ECB discusses QE re-calibration scenarios

    October 5, 2017

    Summary: ECB minutes are broadly in line with the latest bank’s rhetoric A debate over the pace and duration of the QE in the spotlight EURUSD remains little changed, further upside contained The account from the latest ECB’s meeting in September revealed similar remarks we’d already known. The bank opened…

  • Euro awaits ECB minutes, IBEX recovers

    October 5, 2017

    Summary: Euro holds steady ahead of minutes of September ECB meeting Spanish stocks recover as Spanish government pours cold water on Catalonia’s bid for independence  AUD weakens after soft retail sales data from Australia EURUSD was little changed this morning as investors were preparing for minutes of the last ECB meeting. Moreover,…

  • Key level to watch on Dash, South Korean ban on ICOs in doubt

    October 5, 2017

    Summary: Dash (DSHUSD on xStation5) could be nearby an interesting technical level South Korea has yet to implement a ban on all forms of initial coin offerings Large Japanese energy supplier adds Bitcoin (BTCUSD) payments with a discount on electricity bills All major cryptocurrencies have approached curious technical levels which…

  • DE30: Flat beginning of trading except for IBEX

    October 5, 2017

    Summary: European stock markets have begun the day flat, IBEX has soared though DAX (DE30 on xStation5) holds onto its uptrend, a bullish sequence could bode well going forward Bayer (BAY.DE) drops following an unfriendly recommendation Stock markets across the old continent have kicked off the day with modest gains…

  • Catalan groundbreaking vote begins taking its toll. What next?

    October 5, 2017

    Summary: There are many doubts how or when Carles Puigdemont would initiate the process to leave Spain Spanish government briefs Puidgemont what he should do, if he wants to negotiate; European Commission weighs in as well S&P puts Catalan debt on a watch list with a possibility of a downgrade,…

  • The NFP preview: watch out for hurricanes

    October 5, 2017

    Summary: The NFP report on Friday is one of the most anticipated by traders Employment number is likely to be affected by the hurricanes The momentum is with US dollar, USDIDX faces a resistance at 94 points The NFP is traditionally the most anticipated monthly report from the US economy…

  • Economic calendar – ECB minutes in the limelight

    October 5, 2017

    The key event coming up today is minutes of the last ECB meeting. The figure should cast more light on internal discussion and market participants will look for any details of planning reduction of the bond purchase program. Thus, the publication may spur some volatility in EUR. Moreover, we get weekly…

  • AUD tanks following gloomy retail sales

    October 5, 2017

    Summary: Australian retail sales vastly missed the consensus in August Former RBA member Edwards suggests a hike could be on the cards despite sluggish inflation Trade data beats expectations, the overall outlook remains bleak though AUD is by far the worst performing currency in G10 The Asian session has been…

  • Stellar ISM and weak ADP send mixed messages for US economy

    October 4, 2017

    Summary: ADP employment change falls to 135k - lowest level in almost 4 years ISM non-manufacturing surges to 12-year high of 59.8 DOE inventories show large draw of 6m barrels Bitcoin comes under pressure despite reports of record volumes The rate of pace of growth in the US labour market…

  • Bitcoin breaks rising trendline. Is the recent recovery over?

    October 4, 2017

    Bitcoin has fallen lower today, and in doing so, price has dropped below a rising trendline from the September lows. In recent weeks there has been an impressive recovery in the market after it plummeted at the start of last month but today’s break could signal further downside ahead.   …

  • Oil pops higher on large DOE draw

    October 4, 2017

    Summary: DOE inventories -6.0M vs -0.5M exp and -1.8M prior Brent Oil spikes higher following the release and recaptures $56 Longer term there are signs the uptrend is under threat The weekly DOE inventories have shown their largest decline in 7 with a drop of 6m barrels far greater than the…

  • ISM hits 12-year high; USDJPY recovers

    October 4, 2017

    Summary: ISM non-manufacturing PMI rises to 59.8 for September Reading was a 12 year high and well above prior and expected USDJPY rises back near to 11-week high after the release  Following the earlier expected drop in ADP employment change, the most recent data on the US services sector has…

  • ADP falls to lowest level in almost 4 years; hints at weak NFP

    October 4, 2017

    Summary: ADP employment change falls to lowest level since Oct ’13 However, print of 135k inline with consensus forecast however USD moves of its lows following the release The rate of pace of growth in the US labour market slowed markedly in September according to the latest ADP release. Whilst the…

  • USD retreats whilst Spanish stocks deepen losses

    October 4, 2017

    Summary: The US dollar gives up some of its gains from the last two weeks, investors await ADP and non-manufacturing ISM reports Spanish stock stay under pressure of rising tensions in Catalonia Better services PMI from the UK props up the pound The US dollar has weakened for the second consecutive day.…

  • Payments volume in Bitcoin soars this year

    October 4, 2017

    Summary: Bitpay, the global Bitcoin payment service provider, reports soaring payments volume this year Bitcoin (BTCUSD on xStation5 platform) could be susceptible to a decline Government head of IT fired for mining Bitcoin using state-owned hardware in Crimea Bitcoin has yet to recover since the beginning of October as the…

  • UK services PMI beats forecast. Is it just short-lived boost?

    October 4, 2017

    Summary: UK services PMI beats the forecast in September and partially wipes off an unfavorable tone following the manufacturing and construction readings Input cost pressures intensify to its seven-month high in the past month GPBUSD may bounce on the back of better data, an extended upside could be limited though…

  • New all-time high on DAX and carnage on Spanish IBEX

    October 4, 2017

    Summary: German DAX (DE30 on xStation5) has begun the day with gains as Germans are back after a day-off German equities have already marked their new all-time high at the opening before closing the gap Spanish IBEX (SPA35) drops off dramatically amid mounting political pressures Volkswagen (VOW.DE) and other German…

  • US dollar backs off on the Powell talk 

    October 4, 2017

    Summary: Asian session brought declines on the US dollar on the Fed talk AUD gains despite weaker data from the economy Equities remain buoyant, China’s Hang Seng leads gains One of the reasons behind a recent renewed strength of the US dollar was a talk that president Donald Trump could…

  • More gains for stocks as GBP and NZD come under pressure

    October 3, 2017

    Summary: Small gains seen in most indices with US making new record highs UK100 also on the rise as GBP falls following construction PMI miss NZDUSD falls to test key level after sharp drop in GDT Bitcoin falls lower as recent rise is tested It’s been a fairly steady session for…

  • GDT falls sharply; NZD hit with selling 

    October 3, 2017

    Summary: Global Dairy Trade price index drops to -2.4% Lowest reading in many months NZDUSD falls to 1-month low to test key 0.7130 level  The most recent reading for the Global Dairy Trade (GDT) auction has shown a fairly large drop of 2.4% which ends a run of 3 successive…

  • USDZAR hits 5 month-high; more gains ahead?

    October 3, 2017

    Summary: USDZAR has risen today to trade at its highest level since mid-April USD resurgence as well as possible South African downgrade behind the move Technical outlook becoming more favourable for longs A combination of factors have contrived to push the USDZAR higher of late, with the pair today rising to…

  • Is the German/Spanish stock divergence justified?

    October 3, 2017

    Summary: Price of Spanish and German stocks indices at historically large divergence  Catalan independence fallout weighing on the SPA35; DE30 near all-time high Bond markets suggest divergence may be overdone The leading stock index in Madrid has fallen lower once more this morning, trading briefly down to its lowest level…

  • Stock of the week – Gilead Sciences

    October 3, 2017

    Summary: Biotechs recover as the White House administration shifts away from the health care reform and drug pricing issues Gilead’s (GILD.US on xStation5) valuation looks quite compelling compared to its closest competitors Brokerage houses are optimistic on Gilead’s prospects. 15 out of 28 recommendations suggest a ’buy’, 13 calls indicate…

  • USD eases its rally, benign session in Europe

    October 3, 2017

    Summary: US dollar halts somewhat its recent surge European stock indices remain calm after strong gains on Wall Street and in Asia Dovish RBA puts some pressure on AUD The start of the trading session in Europe was pretty benign as German markets are closed due to Unification Day as well as Mainland China…

  • Will Goldman Sachs help clients trade Bitcoin?

    October 3, 2017

    Summary: Goldman Sachs mulls over facilitating its clients trading Bitcoin Litecoin (LTCUSD on xStation5) outpaces Dash (DSHUSD) in terms of market capitalization Dash approaches its pivotal support area where some buyers could lurk Bitcoin seems to be losing some of its appeal since the beginning of this week following the…

  • UK construction PMI slumps, investments could be at stake

    October 3, 2017

    Summary: UK construction PMI has slipped to the lowest since August 2016 vastly missing the forecast Investments could slow down going forward which might be a drag on GDP growth GBPUSD drops as chances for a rate hike could dissipate The UK’s economy seems to be entering on track to…

  • Economic calendar: PMI from UK and API report on the agenda

    October 3, 2017

    Summary: UK construction PMI will be a key release before noon API to report its weekly change on oil stockpiles Two noteworthy speeches from central bankers Today’s data-wise is rather calm, hence construction PMI from the UK’s economy could be the most important print before noon. Let us remind that…

  • Stocks soar in China as S&P500 hits all time highs

    October 3, 2017

    Summary: Stocks in Asia generally rose, although AUS200 took the beating CHNComp surged more than 3% after a long weekend The US500 has just scored all-time highs, are we braced for a year without a simple correction? We got "more of the same" in Asia on Tuesday that is even…

  • Catalan vote felt in the markets

    October 2, 2017

    Summary: Fallout from Sunday’s Catalan independence vote has weighed on EUR and SPA35 Overall risk sentiment still positive however with most indices higher GBP slides on weak manufacturing data Brent Oil falls below $56 The main news development driving the markets today has been the fallout from the Catalan independence…

  • ISM rises to 6-year high; USD on the rise

    October 2, 2017

    Summary: ISM manufacturing PMI for September 60.8 vs 57.9 exp Highest reading since March 2011 USD begins NFP week moving higher The US manufacturing sector appears to be in rude health according to the latest data from ISM with the PMI reading jumping above 60 to the highest level since…

  • False breakout in Oil?

    October 2, 2017

    Summary: Brent Oil lower by more than 1.5% on the day Last Monday saw the market hit 2-year high Speculative long positioning at highest level in a year There’s been some notable selling seen in Brent Oil so far today with the market falling back below last week’s low. The…

  • Could Warsh be the next FED’s chair?

    October 2, 2017

    Summary: Kevin Warsh could become a successor of Janet Yellen as a new chair of the Federal Reserve Warsh has deeply criticized the FED’s QE program, if he became a new chairman, quantitative easing could be less likely to be used once again He opts for lowering the FED’s inflation…

  • USD continues winning streak, IBEX35 lags behind its European peers

    October 2, 2017

    Summary: US dollar was by far the strongest G10 currency this morning, continuing its winning streak from the previous week. Weaker euro improves sentiment on European stock markets, however, IBEX35 (SPA35 on xStation5) lags behind due to the referendum in Catalonia GBP has come under pressure as the UK manufacturing…

  • Bitcoin smashes $7000 on soaring demand in African country

    October 2, 2017

    Summary: Bitcoin (BTCUSD on xStation5) touched $7200 on the trading platform in Zimbabwe Bitcoin price continues its uptrend after breaking an important resistance IMF’s Lagarde tells central bankers "it’s unwise to dismiss virtual currencies" While everybody are looking forward to seeing the Bitcoin price breaking a magic $5000, the BTC…

  • Pound keeps declining following feebler PMI

    October 2, 2017

    Summary: UK manufacturing PMI comes in at 55.9 in September and misses the consensus US dollar gains against its all peers within the G10 basket GBPUSD holds onto its downtrend on fading optimism in manufacturing UK manufacturing PMI slid in September from 56.7 (revised down from 56.9) to 55.9 falling…

  • DE30: European stock markets like weaker euro

    October 2, 2017

    Summary: European equity markets have begun the week higher in the aftermath of the falling euro DAX (DE30 on xStation5) eyes its all-time high, while IBEX (SPA35) bounces back sharply Deutsche Bank (DBK.DE) agrees to pay a fine to settle US ligation  Equity markets across the old continent have kicked…

  • Market calendar: Focus on ISM manufacturing, NFP is coming this Friday

    October 2, 2017

    Summary: The US ISM manufacturing is the key figure today Manufacturing PIMs for September are due for most of the world’s major economies. This morning we get the print from the UK There are speeches from the Fed’s and ECB’s members scheduled for today Investors are pretty busy at the start…

  • Euro lower as Catalans opt for secession

    October 2, 2017

    Summary: Catalans vote for independence in the contentious referendum on Sunday 90% of voters are in favor of an independence state, the Spanish government rules out that a possibility  Euro lower in early trading, Spanish bond yields soar following the voting In defiance of opposition of the Spanish government, the…

  • Stocks on the rise as Q3 comes to a close

    September 29, 2017

    Summary: All-time highs seen in US indices Fall in US inflation weighs on USD Fed chair rumours move the markets Euro rises despite lower inflation Today marks the final trading session of Q3 with US stock markets having enjoyed yet another impressive performance. Records have fallen in all three major…

  • Next fed chair rumours move the buck

    September 29, 2017

    Summary: Reports Trump met Kevin Warsh to discuss being next Fed chair Yellen’s term set to end in early 2108 USD jumps higher on the news Several news outlets have been reporting that US president Trump has held a meeting with Kevin Warsh about the latter becoming the next Fed…

  • US stocks look to end the quarter with more gains

    September 29, 2017

    Summary: Today marks the end of Q3 with US stocks enjoying a strong quarter US500 testing record highs at 2509 Return in "worst" 6 months has been a good indicator of future performance Today marks the final trading session of Q3 with US stock markets having enjoyed yet another impressive performance.…

  • Fall in inflation threatens USD recovery

    September 29, 2017

    Summary: US Core PCE price index falls in August USD comes under pressure following the release Flat GDP print weighs on CAD The Fed’s preferred measure of inflation, the core PCE price index, has fallen for the month of August, in a development that could see the central bank a…

  • Euro gains despite weak CPI, GBP and SEK in a retreat

    September 29, 2017

    The US dollar has begun the day quite well, it has lost some of its steam though even as the data from the UK and the euro area missed forecasts. Firstly, the final reading of UK’s GDP for Q2 came in at 1.5% and missed the consensus at 1.7%. The…

  • South Korea puts the brakes on initial coin offerings

    September 29, 2017

    Summary: South Korea announces that all initial coin offerings (ICOs) will be banned Bitcoin (BTCUSD on xStation5 platform) remains little changed despite another risk on the horizon Bahrain may consider adopting Bitcoin and issuing bonds in digital currencies Bitcoin got another nasty report to digest this time from South Korea…

  • EMU CPI misses forecast but euro remains underpinned

    September 29, 2017

    Summary: Inflation rate in EMU fails to meet the forecast in September Higher euro could be weighing on inflation a bit EURUSD hovers around 1.18, a key level remains intact though The economic outlook across the euro area seems to be uninterruptedly sturdy, one of the core element - inflation…

  • DE30: Cautious optimism across Europe, IBEX plunges

    September 29, 2017

    Summary: European equity markets have started the day a bit higher, IBEX (SPA35 on xStation5) plunges ahead of the Catalan referendum DAX (DE30) gains in the morning, a further increase might be disrupted by the EURUSD though Volkswagen (VOW.DE) declines after car maker sets aside $3 billion for diesel engine…

  • Economic calendar: Canadian GDP and EMU inflation in the limelight

    September 29, 2017

    Summary: Candian GDP is the key release today We get the final UK’s GDP for the second quarter and preliminary inflation figures from euro area for September this morning Oil rig count data will show if the US producers limited their operations further On the final trading day this week, we have a…

  • USD recoups yesterday’s losses amid avalanche data from Japan

    September 29, 2017

    Summary: US dollar gets back its losses from Thursday Inflationary pressures from Japan uninterruptedly subdued NZD is the weakest currency in G10 in early trading The US dollar could have had a one-off stop within its upward trend this week. The greenback has been decisively the most powerful currency in…

  • Crypto falls as other markets await the next move

    September 28, 2017

    Summary: Weakness seen in cryptocurrencies after recent gains US economy grew faster than expected in Q2 German inflation stalls but Spanish rises Stock indices remain well supported News this morning that Russia has decided to hold off on regulating cryptocurrencies appears to have weighed on price with all 5 markets lower on…

  • US stocks yet to see 2%+ move in 2017

    September 28, 2017

    Summary: US500 little changed at the start of US session Price remains above 2500 Market could be set for first year without 2%+ move since ’05 US stocks remain well supported and close to all-time highs this afternoon with the US500 trading above 2500 after posting a new record peak…

  • US economy grew faster than expected in Q2

    September 28, 2017

    Summary: Final US GDP Q/Q 3.1% vs 3.0% exp Sharp move higher seen in 4-week average jobless claims Mixed data leaves USD searching for direction The US economy grew faster than expected in the second quarter of the year with an annnualised rise of 3.1% seen compared to a prior…

  • Latest German inflation flat. Euro edging higher

    September 28, 2017

    Summary: German inflation figures come out 1.8% Y/Y Print was below expected but inline with prior Euro edging higher on the day The latest inflation data from the most powerful country in the EU has failed to show a rise as expected, with the German HICP coming in inline with…

  • USD gives up earlier gains, stocks move mostly higher

    September 28, 2017

    Summary: US dollar pares some of its gains after Trump’s speech Sentiment on European stock markets remain slightly positive Investor still awaits inflation figures form Germany The US dollar saw a bit of profit taking this morning. Nevertheless, USD still looks relatively solid, underpinned by optimism over the latest US data and President Donald Trump’s tax-cut…

  • Russia holds off on regulating cryptocurrencies, Bitcoin shrugs it off

    September 28, 2017

    Summary: Russian Ministry of Finance decides to push back implementation of cryptocurrencies’ regulation to the next year Bticoin (BTCUSD on xStation5) shrugs the Russian story off and strives to push forward Macau announces implementation of the ban related to cryptocurrencies ordered by the Chinese regulators We’ve already mentioned several times…

  • Trump’s tax plan keeps Wall Street hopes alive

    September 28, 2017

    Summary: Donald Trumps presented a framework for his tax plan yesterday The plan sees a major reduction in the CIT rate, many question marks remain unanswered Time-table for the plan is difficult to identify, a budget bill for the next year must be passed first US stocks could fade this…

  • DE30: European stock markets unfazed despite Trump’s ’fireworks’

    September 28, 2017

    Summary: European equity market have opened flat following Trump’s speech in Indianapolis German DAX (DE30 on xStation platform) still struggles with a key resistance Daimler (DAI.DE) gains in the wake of a purchase of ride-sharing platform Flinc Financial markets all around the world were little changed following a speech from…

  • NZD unimpressed with the RBNZ, USD still gains

    September 28, 2017

    Summary: RBNZ leaves rates unchanged, no major impact on NZD NZDUSD could aim at 0.70 US dollar gains again in Asia on remarks from Rosengren Equity markets mixed in Asia, JAP225 gains, CHNComp leads declines The RBNZ decision was a major event of the Asian session - the last central…

  • USD continues to rise as Gold drops to 1-month low

    September 27, 2017

    Summary: Strong durable goods support latest USD leg higher; Gold drops to 1-month low  US stocks remain close to all-time highs. DE30 hits 3-month high DOE inventories decline for 1st time in 4 weeks Bitcoin moves back above $4000 Catalan independence vote threatens to rattle SPA35  Durable goods orders made an…

  • Oil falls back despite DOE inventories drop 

    September 27, 2017

    Summary: Weekly DOE inventories come in at -1.8M vs +2.9M exp First drop in the last 4 releases Brent Oil remains close to 2-year high The latest inventory figures from the US department of energy have shown a drop of 1.8M barrels in the past week. This is the first…

  • Gold falls to 1-month low on US data beat; USDJPY breaking higher

    September 27, 2017

    Summary: US durable goods M/M +1.7% vs +1.0% exp USD rising across the board with only crypto escaping declines Gold falls to its lowest level since 24th August; USDJPY breaking higher Durable goods orders made an impressive recovery for the month of August after falling sharply back in July by…

  • Will a vote in Catalonia rattle equity markets?

    September 27, 2017

    Summary: Local government in Catalonia looks desperate to hold independence referendum on Sunday (1 October) despite opposition from Madrid Spain sees the referendum as illegal and has taken steps to prevent it  There is a distinct divergence between SPA35 and DE30 The last week of September is full of politics,…

  • Where next for US stocks?

    September 27, 2017

    Summary: European stocks on the rise this morning US30 closed lower the past 4 sessions but remains near all-time high US100 lagging but remains in an uptrend  There’s been a distinct bullish feel to this morning’s session with the DE30 breaking higher to trade at its highest level since the…

  • New Zealand dollar resists USD’s strength, stocks on the rise

    September 27, 2017

    Today’s session is passing quite calmly with no relevant releases on the agenda. However, the most important events are still ahead and the RBNZ meeting and a speech of the US President Donald Trump are undoubtedly among them. On the FX front one could spot that the NZD is quite…

  • Key topics to watch ahead of the RBNZ meeting

    September 27, 2017

    Summary: September’s meeting is the first one with Grant Spencer being an ’acting’ director NZD weakened since the latest meeting, a reference to the ex-change rate is worth looking at Remarks on inflation are among the most important to foresee a future move in rates General election’s outcome could have…

  • Stock of the week – Halliburton

    September 27, 2017

    Summary: The recovery in the oil industry heralds better outlook for Halliburton (HAL.US on xStation5) The vast majority of brokerage houses rates the company as a ‘buy’ Halliburton has been moving  in a distinct upward trend towards an important resistance  Halliburton is one of the world’s largest oil field companies.…

  • Will cryptocurrencies be the biggest bubble ever?

    September 27, 2017

    Summary: A cryptocurrency fund king Mike Novogratz calls Bitcoin the biggest bubble ever Ripple approaches a key resistance after breaking out of a downtrend line Venezuela might consider adopting Bitcoin as its new currency soon We’ve already known a great deal of personal opinions voiced by the most prominent people…

  • DE30: Stock markets kick off higher before Trump’s speech

    September 27, 2017

    Summary: All major European equity markets have started the day higher awaiting Trump’s speech DAX (DE30 on xStation5) tries to break its relevant resistance Siemens (SIE.DE) marches higher on the back of a deal with Alstom The European stock markets have begun the day higher following quite a hawkish speech…

  • Economic calendar: Commodity currencies in the spotlight

    September 27, 2017

    Summary: Preliminary durable goods orders is a key release from the US Crude oil stocks are expected to show a build, but API reports a draw Today’s RBNZ meeting is the last one with the incumbent governor Wheeler Some central bank speakers on the agenda as well The US dollar…

  • US dollar grinds higher in Asia

    September 27, 2017

    Summary: US dollar moves higher in Asia supported by Yellen AUDUSD could be set to test 0.7775 as positioning works against it Stocks were little changed with CHNComp gaining the most  The US dollar is the strongest G10 currency in Asia and although gains are limited in scale it’s a…

  • Yellen reiterates moderate approach and supports the greenback

    September 26, 2017

    Janet Yellen speaks about inflation, uncertainty and monetary policy at NABE conference in Cleveland. Prepared speech seems to be a little hawkish, although she reiterates moderate approach to raising interests rates: FOMC still expects inflation to stabilize around 2% Persistently easy policy can hurt financial stability Low inflation likely reflects…

  • USD shrugs off weak housing data ahead of Yellen speech

    September 26, 2017

    Summary: USD rising despite sub par new home sales data  USDMXN hits 6-week high back near 18 Latest CFTC data offers cause for possible reversals in 3 markets Bitcoin rises back towards 4000 following Draghi comments The main economic releases from the US this afternoon have come in a little…

  • USD strength tested after new homes sales fall

    September 26, 2017

    Summary: US new homes sales rise for 3rd consecutive month However, consumer confidence remains high US dollar higher on the day  The main economic releases from the US this afternoon have come in a little worse than expected, with the fall in new home sales in particular a disappointment. Against…

  • US stocks recover N. Korea drop. Equifax CEO quits

    September 26, 2017

    Summary: US stock indices have recouped Monday’s N. Korea induced declines US500 remains close to record high Equifax lower as CEO quits The latest ratcheting up of tensions between Washington and Pyongyang saw clear risk-off moves in the market yesterday with Gold spiking higher and US stocks taking a swoon.…

  • USDMXN hits 6-week high; further gains ahead?

    September 26, 2017

    Summary: USDMXN rises to highest level since August This pair has been on of the biggest fallers YTD Bullish technical signal could lead to sustained recovery The USDMXN is enjoying a second consecutive day of gains and there are growing signs that this market could be set for a recovery.…

  • Watch these 3 markets for a possible reversal

    September 26, 2017

    Summary: CFTC measure of speculative positioning could be helpful with tactical trades USD could look oversold vs some G10 peers Sugar could look oversold and oil overbought in the commodity sphere Buy low and sell high - this is one of the most common proverbs on the markets. But how…

  • US dollar gains second day in a row, oil gives back profits

    September 26, 2017

    The US dollar is flexing its muscles a second day in a row as it seems to get back its tendency to gain under a risk-off mode. Consequently, the Bloomberg US dollar index is already up by 0.4% while the New Zealand dollar and the Norwegian krone are among top…

  • Bitcoin surges as Draghi doesn’t prohibit digital currencies

    September 26, 2017

    Summary: ECB’s Draghi says the regulation of virtual currencies is out of the bank’s power Bitcoin (BTCUSD on xStation5) surges on Draghi’s remarks, a key level to watch for Japanese watchdog starts surveillance of Bitcoin exchanges in the country The Monday’s appearance of Mario Draghi ahead of the European Parliament…

  • DE30: Political risks abate but stock markets open lower

    September 26, 2017

    Summary: Major European indices have begun the day lower even as politics took a back seat DAX (DE30 on xStation5) remains little changed after a weaker session on Monday Deutsche Boerse (DB1.DE) feels pressure as some investors call on the company to dismiss its CEO While political risks have been…

  • Economic calendar: US data and Yellen being a cherry on top

    September 26, 2017

    Summary: J. Yellen speech should be the most worth looking at New home sales and consumer confidence from the US economy API will deliver its weekly update on a change in oil inventories Tuesday is bound to be dominated by FED speakers with Chair J. Yellen being a cherry on…

  • Gold rises on geopolitical concerns

    September 26, 2017

    Summary: Markets wobble, gold rises as Korea overshadows European politics Gold prices rebound from the key $1295 zone New Zealand’s dollar weakest in G10 as politics weighs on business sentiment Monday was mainly about the politics on the markets. Let us recall that investors first reacted to elections in New…

  • North Korea spooks investors on Monday

    September 25, 2017

    If anybody was disappointed with markets’ reactions on the outcomes of the general election in Germany, it should have enjoyed in the afternoon when North Korean foreign minister brought about heightened volatility. He accused US President Donald Trump of declaring war on his country by tweeting over the weekend that…

  • Short covering on GBP, net longs on NZD almost cleared out

    September 25, 2017

    Summary: Net short positioning on GBP vastly covered on the back of hawkish BoE Longs on NZD trimmed in the run-up to the general election AUDNZD could be an interesting selling opportunity The latest CFTC came out as usual on Friday and brought some moves worth looking at. First and…

  • Japanese PM calls snap election and announces spending package

    September 25, 2017

    Summary: Japanese PM Shinzo Abe calls an early election for 22 October Abe aims to benefit from opposition disarray and his harsh attitude to North Korea A 2 trillion JPY spending package ordered to be implemented before the end of the year USDJPY remains on the rise, further upside still…

  • USD on the rise across the board, Dudley’s upbeat remarks help

    September 25, 2017

    Summary: US dollar is the strongest currency in G10 just before the US session FED’s Dudley delivers quite upbeat and hawkish remarks Chicago FED national activity index comes in below estimations The dust after the election weekend seems to be settling and the US dollar is the largest beneficiary of…

  • EUR and NZD remain under pressure

    September 25, 2017

    Summary: Euro weakens as the result of the election in Germany was unclear and investors await Draghi’s speech Ifo index surprises to the downside, DAX (DE30) manages to resume gains though NZD is also hinged upon political uncertainties   The last weekend was bountiful in important events. Investors digested the outcomes of the…

  • Chinese cryptocurrency exchanges still alive

    September 25, 2017

    Summary: Chinese cryptocurrency exchange will launch its overseas platform Virtual currencies mining ’more profitable’ than drugs in Russia Russian govt will pay 2.5 million rubles cryptocurrency researchers The clampdown on the Chinese cryptocurrency exchanges battered the Bitcoin price some time ago, however it looks that the crackdown won’t weed out…

  • IFO delivers fresh post-election remarks

    September 25, 2017

    Summary: IFO shows slightly weaker numbers compared to expectations Institute presents its remarks and hunches with regard to the German election’s outcome EUR remains on the back foot against the US dollar The outcome of the German election is by far the most important for financial markets, however it’s likely…

  • Politics set the market sentiment

    September 25, 2017

    Summary: Merkel wins election in Germany, however, her party performs worse than expected and the outcome may weigh on DAX (DE30 on xStation5) The NZ National Party fell short of the majority - it puts pressure on NZD Tensions between the US and North Korea remain high, as the latter one threatened with…

  • Markets calm ahead of the election weekend

    September 22, 2017

    Summary: Stellar data from Europe helped EURUSD on Friday Investors await election results from Germany and New Zealand Yellen speech on inflation in the spotlight next week This week was dominated by the FOMC but political issues are high on the agenda. While investors have ignored tension with North Korea…

  • Oil prices stuck between OPEC and US shale

    September 22, 2017

    Summary: Oil inventories in OECD countries continue sliding chiefly on the back of the OPEC deal OPEC sticks to its output limits, further extension of the agreement on the cards New forecasts indicate a return of oil glut Outlook for US shale producers looks promising but production upside questionable Demand…

  • Equivocal data from Canada makes traders confused

    September 22, 2017

    Summary: Canadian headline inflation misses forecast at 1.5% and comes in at 1.4% in a year-over-year basis Retail sales in July mixed but overall trends remain solid Rises on USDCAD could be contained as more sellers could lurk The Canadian headline inflation came in at 1.4% yoy against the forecast…

  • US dollar in a retreat, European stocks rebound

    September 22, 2017

    It seems that investors completely forget about the hawkish stance of the Federal Reserve. After a bleak session yesterday, the US dollar is on the back foot today. CAD, AUD and JPY are among the best performers in the G10 basket - all are increasing 0.5% more or less. On…

  • Russian central bank opposes cryptocurrency legalization

    September 22, 2017

    Summary: Bank of Russia opposes legalization of cryptocurrency Japanese travel agency starts accepting Bitcoin payments Bitcoin’s technical view doesn’t look well for buyers Over the course of the past months we could have heard upbeat stories when it comes to the cryptocurrency from Russia. Many industry observers have waited for…

  • European PMIs confirm robust economic backdrop

    September 22, 2017

    Summary: All European PMIs beat easily forecasts across the board Services sector catches up on its previous feebler months EURUSD has failed to break 1.2000 after the solid releases The September PMIs turned out to be by far better than expected boding well for GDP growth in the third quarter.…

  • DE30: European stock markets get underway lower

    September 22, 2017

    Summary: All major European equity markets have opened slightly lower following fresh North Korea-related tensions DAX (DE30 on xStation5) could try to break a resistance once again Deutsche Boerse to cap executive payment at 9.5 million EUR per person from this year The European equity markets seem to be unimpressed…

  • Economic calendar: Busy day for G10 currency traders

    September 22, 2017

    Summary: Preliminary European PMIs should draw attention before noon The Canadian bunch of data could be decisive for the Loonie Many central bank speakers on the agenda The last trading day this week is packed with many relevant macroeconomic readings. Beside European PMIs and Canadian inflation, we’ll have plethora of…

  • North Korea reignites safe haven flow

    September 22, 2017

    Summary: JPY and CHF are in demand following North Korean foreign minister’s announcement New Zealand dollar takes a breather on risk-off mode and general election tomorrow OPEC/non-OPEC joint ministerial monitoring committee meets today While there was no macroeconomic data published overnight, North Korean foreign minister brought some volatility across financial…

  • Post-FED exuberance fades as USD and US stocks backtrack

    September 21, 2017

    The US dollar has lost some of its attractiveness which it got immediately after the Federal Reserve decision. The Wall Street has taken a leaf out of the greenback’s book as well and it’s started the day lower. As for now, one could conclude that the FED’s impact has been…

  • AUD knocked down on renewed Chinese concerns

    September 21, 2017

    Summary: Australian dollar is by far the weakest currency in G10 during the day S&P cuts China’s credit rating on mounting risks from debt growth Iron ore prices plunge to the lowest since mid-July AUDUSD could be in a tipping point after the FED’s meeting The FED plays by far…

  • No imminent rate hike seen in Norway but NOK recovers

    September 21, 2017

    Summary: Norwegian central bank leaves rates on hold as expected Projected path of interest rate hikes has been raised Two more reasons why Norges Bank is no in a rush to hike rates any time soon Bond market suggests higher USDNOK, it could be tricky though Of course the Norwegian…

  • Better data supports USD before start on Wall Street

    September 21, 2017

    Summary: US jobless claims decline much more than expected as the hurricanes’ effect fades US Philadelphia PMI beats forecast and suggests higher manufacturing ISM EURUSD tries to recover following hawkish FED The data-wise is rather benign today when it comes to the US economy, however we got two better than…

  • USD remains strong, European stocks start in the green

    September 21, 2017

    Summary: Greenback continues recovery after a somewhat hawkish message from the Fed yesterday. European stocks started the session higher as banks thrive on higher market rates. Norges Bank surprises a bit to the upside giving NOK a support. Draghi’s speech in focus in the afternoon. This morning in Europe was benign…

  • El-Erian: Bitcoin has far surpassed its fair value

    September 21, 2017

    Summary: Bitcoin (BTCUSD on xStation5) could have already surpassed its true value as much as three times, El-Erian says Overall coins’ performance looks benign, Dash (DHSUSD) storms higher Chinese Bitcoin exchange executives banned from leaving the country The FED’s decision rattled the financial markets across the board as the US…

  • DE30: German lenders lead the gains

    September 21, 2017

    Summary: European equity markets march higher after the FED’s decision DAX (DE30 on xStation5) breaks a crucial resistance line German banks lead the gains within the DE30 The decision made by the Federal Reserve yesterday could be favorable both for the US dollar and stock markets worldwide. Even as the…

  • Economic Calendar: Mario Draghi in the spotlight 

    September 21, 2017

    Summary: ECB speaches to highlight Thursday’s calendar US data includes claims, Philly Fed and leading indicator It would be hard to beat Wednesday calendar in terms of market events so Thursday’s one is - frankly - not even trying. This is a good thing for investors who can digest the…

  • US dollar extends gains after the FOMC, dissenter at the BoJ

    September 21, 2017

    Summary: US dollar extends gains in Asia after a hawkish call from the Fed The BoJ holds steady but 1 dissenter calls for more action Strong GDP, good poll limit NZD losses in Asia AUD crushed as iron ore prices decline The US dollar along with the British pounds are…

  • US dollar recovers but it’s kiwi that’s been strongest on Wednesday

    September 20, 2017

    Summary: Fed begins balance sheet adjustment, still sees 3 hikes this year US dollar recovers after the FOMC meeting GBP inches higher on strong retail sales report NZD surges on poll, GDP data ahead The FOMC meeting was the key event of the week and it has not disappointed. The…

  • Fed stays the course, USD gains

    September 20, 2017

    Summary: The Fed plans to start balance sheet reduction since October The dot-plot still sees another hike this year The Fed sees no major impact of hurricanes on medium trem outlook What we’ve just seen from the Fed could be quite positive for the US dollar. First of all, the…

  • DOE shows large build but Oil attempting to break higher

    September 20, 2017

    Summary: Weekly DOE inventories come in at 4.6M vs 2.8M expected Brent Oil hits 5-month high ahead of the release 9 months after OPEC cuts begin signs are that supply glut is clearing   The weekly DOE crude oil inventories have shown a third consecutive large rise with the recent storm…

  • The FOMC meeting: markets will react to those 3 things

    September 20, 2017

    Summary: Balance sheet normalization expected today but it’s dot-plot that could be crucial EURUSD ahead of the key pivot point - will it be broken? FOMC decision at 7pm BST, Yellen starts her conference 30 minutes later The FOMC meeting is the key event of the week and it is…

  • UK100 set for a deeper correction?

    September 20, 2017

    Summary: The UK100 has risen this week but remains below the key 7295 level Price tumbled to a 4-month low last week as the GBP rise weighed on the market Several indicators now suggest the market is in a downtrend Aside from the huge swings in cryptocurrencies the main story in…

  • NZD flexes its muscles as USD remains on the back foot

    September 20, 2017

    The New Zealand dollar is by far the best performer within the G10 basket consisting of the most relevant currencies in the world. A stronger kiwi might be a result of two upbeat factors. Firstly, the latest GDT milk auction saw a rise in whole milk powder prices, the main…

  • Will we get a third version of Bitcoin?

    September 20, 2017

    Summary: Major players of the cryptocurrency industry say Bitcoin (BTCUSD on xStation5) could fork once again Bitcoin steps back from a notable resistance line China may try to block all Bitcoin transactions in the country Several weeks already passed when the Bitcoin fork took place and there is guesswork that…

  • UK retail sales beat forecast. Is GBP already out of the woods?

    September 20, 2017

    Summary: Retail sales rebound in August easily beating consensuses OIS-implied probability of a hike in the UK this year increases GBPUSD could eye higher levels after a short-lived corrective move In defiance of the largest GBP opponents UK retails sales rebounded robustly in August achieving the fastest pace in four…

  • DE30: Equity markets open flat, Thyssenkrupp soars

    September 20, 2017

    Summary: Equity markets have begun flat in anticipation of the Federal Reserve DAX price action (DE30 on xStation5) remains strongly constrained Thyssenkrupp (TKA.DE) surges as the company strikes the deal with Tata Steel The European stock markets seem to be cautious ahead of the Federal Reserve meeting. Although, there is…

  • API reports smaller build, NZD jumps on fresh poll

    September 20, 2017

    Summary: New Zealand dollar jumps as a fresh poll shows a rising advantage of the National Party over the Labor API shows a smaller than anticipated build in oil stocks Some interesting reports from Japan related to PM Abe Mexican earthquake brings no impact on the peso The Asian session…

  • Stocks edge higher whilst USD remains under pressure

    September 19, 2017

    Summary: Most major stock benchmarks add to recent gains USD index falls back close to multi-year low Crypto moves lower as Dalio labels Bitcoin a "bubble" NZD rises as GDT jumps by the most in 4 months Markets await tomorrow’s Fed decision It’s been another day of gains for major…

  • Milk prices rise by the most in 4 months; NZD appreciating

    September 19, 2017

    Summary: GDT index rises 0.9%  Largest increase since May NZD rising across the board; election this weekend The fortnightly global dairy trade (GDT) auction has shown the largest increase in what is widely seen as a global benchmark for milk prices since the middle of May. A rise of 0.9%…

  • Trump pulls no punches in UN speech

    September 19, 2017

    Summary: US president Trump addresses UN general assembly  Calls North Korea a "depraved regime" Iran must be "addressed" US president Donald Trump has delivered a quite extraordinary speech to the UN general assembly during which he pulled no punches in going after both North Korea and Iran. Selected comments are as…

  • Dalio: “Bitcoin is a bubble”

    September 19, 2017

    Summary:  World’s largest hedge fund calls Bitcoin a bubble BTCUSD back under 4000 Slight weakness seen across all crypto markets  Ray Dalio, the billionaire founder of the world’s largest hedge fund Bridgewater Associates is the latest high-profile financier to weigh in on cryptocurrencies. After JP Morgan CEO Jamie Dimon labelled bitcoin…

  • Antipodean currencies lead the gains in G10

    September 19, 2017

    The Antipodean currencies have been so far the strongest in the G10 basket despite declining iron ore prices which, in theory, should weigh on the Australian dollar. The metal’s price is dropping as much as 4% while the New Zealand dollar is waiting for results of the GDT milk auction…

  • Prepare your trading strategies for the FOMC meeting

    September 19, 2017

    Summary: The Fed is expected to start shrinking its balance sheet on Wednesday Expectations regarding future rate moves will affect US dollar EURUSD, US500 among markets to watch In a month of central bank meetings we are yet to hear from the US Federal Reserve. The Fed has been known…

  • Estonian plans to launch its own cryptocurrency still alive

    September 19, 2017

    Summary: The latest ECB meeting was not all about the euro Litecoin (LTCUSD on xStation5) is about to test a relevant support area Cryptocurrency trading in CNY collapses following the Chinese clampdown Moves across the cryptocurrency market have subsided recently after the exceptionally hectic last week. For that reason, it’s…

  • ZEW improves as higher euro’s impact fades

    September 19, 2017

    Summary: German economic sentiment improves after a decline seen last month Concerns over the stronger euro fade EURUSD still hovers below a critical resistance zone The German ZEW index marked a substantial improvement in September when it comes to economic expectations which saw an increase from 10 to 17. In…

  • DE30: Tepid beginning across European stock markets

    September 19, 2017

    Summary: All major European indices have begun the day with modest losses DAX (DE30 on xStation5) bounces off its critical resistance line RWE (RWE.DE) loses ground following the adverse call The European equity markets have begun the day with modest losses after quite a disappointing session in Asia and fairly…

  • Economic calendar: Warm-up ahead of the FED

    September 19, 2017

    Summary: German ZEW the sole noteworthy release before noon US housing data in the limelight later in the day API release could be affected by Irma’s ramifications Tuesday is relatively benign in terms of macroeconomic releases and it’s a warm-up before the Federal Reserve meeting tomorrow. Whipping through the calendar,…

  • Stocks rise, Crypto soars and Gold falls to monthly low

    September 18, 2017

    Summary: Stock rally continues with US markets hitting fresh record highs Risk-on flows weigh on Gold which drops to monthly low Cryptocurrenices come roaring back with Bitcoin reclaiming $4000 Cautious Carney put the brakes on GBP rally Stock market bulls have begun the week on the front foot with all…

  • Records continue to tumble for US stocks

    September 18, 2017

    Summary: US500 posts fresh all-time high at 2506 Price moves above big psychological level at 2500  2497 could offer support to any dips The Wall Street open has seen US stock markets open at record highs with the recent strong run higher showing little sign of faltering. The market just…

  • Gold hits monthly low; retest of key level ahead?

    September 18, 2017

    Summary: Gold has traded down to its lowest level of the month Risk-on flows weighing on the market ahead of the Fed Price now approaching a retest of the major breakout seen in August around 1295 This morning, Gold prices have extended the declines seen last week with the precious…

  • Stocks hold their gains as Bitcoin resumes its rally

    September 18, 2017

    Amid quite a calm session on the equity or FX markets, cryptocurrencies draw the most attention mainly on the back of an amazing reversal seen on Bitcoin on Friday when the price surged from under $3000 to almost $3800 just in hours. There were no specific reports standing behind such…

  • Portugal yields plunge on S&P rating upgrade

    September 18, 2017

    Summary: S&P lifts Portugal credit rating to an investment level for the first time since January 2012 Portugal 10Y yield plunges 27bps on the report, the spread to German bund narrows Euro are growth could benefit from higher Portugal’s investment grade assigned by S&P Standard&Poors decided to lift the Portuguese…

  • Bitcoin experiences massive U-turn. Are traders too complacent?

    September 18, 2017

    Summary: Bitcoin (BTCUSD on xStation5) experiences a massive U-turn after touching $3000 Bitcoin and USDJPY diverge once again making a hefty discrepancy India considers issuing its own virtual currency as legal tender Everyone who trades cryptocurrencies was probably taken off-guard on Friday when the Bitcoin price surged from under $3000…

  • DE30: Green opening across European equity markets

    September 18, 2017

    Summary: All major European indices have started off on the right foot DAX (DE30 on xStation5) finally breaks its key resistance E.ON (EOAN.DE) and Volkswagen (VOW.DE) lead the gains within the DE30 Getting back to the past we didn’t have so a benign beginning to the week for a longer…

  • Economic calendar: Carney in the spotlight amid FED’s week

    September 18, 2017

    Summary: BoE Governor Mark Carney will give his speech in Washington Two more central bank speakers on the agenda today FED is a pivotal event for this week The beginning of the new week is very subdued with no major moves seen across the FX space. Nevertheless, it could be…

  • GBP set for best week since 2009; retail sales takes the shine off USD

    September 15, 2017

    Summary: The pound has added to recent gains today to trade at levels not seen since just after the Brexit vote USD on course for a good week but soft retail sales see a paring of gains US500 and US30 post record highs. US100 remains a laggard Cryptocurrencies fall sharply…

  • US100 retesting record high

    September 15, 2017

    Summary: US100 yesterday fell short of record high at 6019 Possible double top pattern in play However, break above 6019 would pave the way for further upside Overall, its been another good week for U stock markets with the US500 and US30 both posting record highs. The US100 however has…

  • Soft retail sales data does little to help USD

    September 15, 2017

    Summary: US retail sales m/m unexpectedly turn negative for August 6 of the last 7 retail sales releases have missed forecasts USD coming back under pressure and lower on the day US consumer spending took an unexpected hit last month, with the retail sales data for August disappointing. A month…

  • Pound on the rise while UK100 tumbles on terrorist attack

    September 15, 2017

    That’s been incredible week for the pound which has gotten an ultimate boost from the Band of England. Today BoE’s Vlieghe, shared the view of members who say an increase in borrowing costs could be needed soon. The GBP has instantly jumped as Vlieghe has been viewed so far as…

  • China decimates Bitcoin, Litecoin crashes alike

    September 15, 2017

    Summary: China is expected to stop exchange trading of cryptocurrencies this month Bitcoin (BTCUSD on xStation5) nears a critical level as week is set to end Chinese clampdown on digital currencies hits the shares of related companies Litecoin (LTCUSD) crashes along with Bitcoin This week is likely to be the…

  • GBP highest since Brexit as BoE’s Vlieghe joins hawks

    September 15, 2017

    Summary: BoE’s Vlieghe has openly backed a possibility of a rate hike in coming months Vlieghe has been viewed as one of the most dovish member so far GBPUSD soars to the highest level since Brexit referendum This week has been exceptionally hectic for the British pound as it’s gotten…

  • DE30: European equity markets play down Korean risks

    September 15, 2017

    Summary: European stock markets have kicked off the day unimpressed with North Korean geopolitical risks DAX (DE30 on xStation5 platform) still hovers below its local resistance line RWE (RWE.DE) trades lower as the stock has been downgraded Investors across the old continent seem to be literally intact despite the overnight’s…

  • Economic calendar: Big day for the greenback

    September 15, 2017

    Summary: US retail sales could be a turning point for the US dollar Industrial production and Michigan releases in the spotlight as well Some central bank speakers are going to take the floor later in the day The US dollar got the reassuring inflation data yesterday as both CPI and…

  • North Korea plays with fire once again, markets unfazed

    September 15, 2017

    Summary: North Korea launches its second ballistic missile aimed at Japan in less than a month US Secretary of State calls on all nations to take new measures against North Korea Markets seem to be unimpressed with geopolitical risks One could say that in defiance of the newest sanctions imposed…

  • Crypto bloodbath worsens. BoE sends GBP to 1-year high

    September 14, 2017

    Summary: Second consecutive day of heavy declines for cryptocurrencies. Bitcoin -8% BoE stand pat but hawkish talk boosts GBP UK100 falls to test key support Oil.WTI at 6-week high and back above $50 Pick up in US inflation supports USD recovery The cryptocurrency market has experienced wild volatility of late…

  • Oil.WTI back above $50

    September 14, 2017

    Summary: Oil.WTI rises above $50 to hit 6-week high Market may be on the verge of ending bearish sequence 50.40 a key level to watch We noted that Oil.WTI held up relatively well yesterday despite the largest increase in weekly DOE inventories in 6 months. When a market doesn’t drop…

  • US inflation picks up; USD on the rise 

    September 14, 2017

    Summary: US CPI M/M for August +0.4% vs +0.3% exp Core reading also rises. +0.2% from +0.1% prior Gold falls to weekly low; USDJPY trades 111 Inflation in the US economy is picking up according to the latest economic release with the CPI M/M showing a 0.4% increase for the…

  • SNB and BoE stay put, pound on the rise

    September 14, 2017

    The first half of the day has passed quite calmly until the BoE decision which has brought about a surge of the pound. Besides, the SNB decided to leave rates on hold but made a noteworthy reference to the recent performance of the Swiss franc. As far as the Swiss…

  • BoE tightens up its stance, GBP jumps higher

    September 14, 2017

    Summary: BoE leaves rates unchanged with just two dissenters (7-2) BoE points to limited tolerance for faster inflation and scope for stimulus reduction GBP rallies on the hawkish statement and MPC minutes The Bank of England left interest rates as well as its bond buying program on hold which was…

  • Market capitalization slumps as Bitcoin continues sliding

    September 14, 2017

    Summary: Namibian Central Bank says Bitcoin (BTCUSD on xStation5) purchases are illegal under law Capitalization of all cryptocurrencies slumped below $134 billion Ripple (XRPUSD) at a critical support once again The cryptocurrency market has experienced wild volatility of late mainly on the back of adverse stories coming from China. Moreover,…

  • DE30: European stocks open lower despite record close on Wall Street

    September 14, 2017

    Summary: All major European indices have opened lower despite a record close on Wall Street DAX (DE30 on xStation5) has respected a resistance thus far Infineon Technology (IFX.DE) drags the index down The European equity markets have started the day lower taking a leaf out of Asian investors’ book. It’s…

  • Economic calendar: Central banks and US CPI in the limelight

    September 14, 2017

    Summary: SNB and BoE are scheduled to make a decision on interest rates US CPI will be a pivotal reading for today Central bank speakers on the agenda as well Although, we have meetings of Swiss National Bank (SNB) as well as Bank of England (BoE), neither is expected to…

  • Asia in the red after dismal data from China

    September 14, 2017

    Summary: Equity markets are down today after weak data from China AUD outperforms after a stellar NFP report USD looking good, awaits inflation data Just when it looked as if the China was on a strong foot again this data package has arrived. Industrial output growth slipped to 6% in…

  • Bitcoin plummets whilst USD rises despite PPI miss

    September 13, 2017

    Summary: Cryptocurrencies are in something of a bloodbath with Bitcoin falling 10% Gold falls despite lower than expected US inflation data; USD higher across the board Oil near weekly highs despite largest DOE build in 6 months GBP drops on unchanged wage data The main story of the day’s session…

  • DOE rises by most in 6 months; oil remains near weekly highs

    September 13, 2017

    Summary: Weekly DOE inventories rise by 5.9M  Largest increase in stock piles since March Oil.WTI remains higher on the day A big jump in the weekly DOE crude oil inventory change has had a limited impact on the price of oil, with Oil.WTI remaining supported and just below the $49…

  • 3 reasons behind a sell-off on Bitcoin. Is the rally over?

    September 13, 2017

    Summary: The Chinese central bank calls initial coin offerings (ICOs) illegal  China’s authorities order national digital exchanges to close causing a panic sell-off on Bitcoin JP Morgan CEO Jamie Dimon foretells the end for cryptocurrencies  Bitcoin has experienced an outstanding rally so far mainly on the back of growing acceptance…

  • US PPI rises by less than forecast; Gold edging higher

    September 13, 2017

    Summary: US PPI M/M comes in at 0.2% vs 0.3% exp Core reading also rises by less than expected Gold edging higher after Tuesday’s gains The latest inflation figures from the US have shown a smaller than expected increase in both the headline PPI reading as well as its core…

  • Oil higher on IEA release amid benign FX session

    September 13, 2017

    Taking a look at markets one could notice that oil prices are among the largest beneficiaries (except for Bitcoin) which have been propped up by the IEA release. The International Energy Agency lifted its forecast for global oil demand by 0.1mb to 1.6mbpd foretelling the strongest demand growth in two…

  • BoE meeting to provide the catalyst for further GBP gains?

    September 13, 2017

    The pound has been on of the standout performers this week after the CPI Y/Y rose back to its highest level since 2013. Tomorrow sees the Bank of England rate decision at Midday, and traders will be watching closely to see if there are any signs of a hawkish shift…

  • JPM CEO causes big slump in Bitcoin

    September 13, 2017

    Summary: JP Morgan CEO Jamie Dimon warns he will fire any employee trading Bitcoin (BTCUSD on xStation5) for being "stupid" Bitcoin collapses below $4000 on JPM CEO’s remarks South Korean third largest Bitcoin exchange allows a physical cryptocurrency exchange Everybody knows how meaningful for markets might be comments, opinions or…

  • GBP gives back gains as wage growth disappoints

    September 13, 2017

    Summary: Unemployment rate slips from 4.4% to 4.3%, employment accelerates Wage growth in the UK comes in below estimations trimming odds for a bounce in consumption GBP gives back its gains made in the aftermath of higher inflation The UK’s jobless rate declined from 4.4% yoy to 4.3% yoy in…

  • DE30: Cautious steps at the opening in Europe

    September 13, 2017

    Summary: Cautious start seen in the European markets across the board DAX (DE30 on xStation5 platform) has challenged a further move higher Banks across Florida have started reopening corporate offices after Irma The Asian session proved to be quite equivocal. On the one side, the NIKKEI (JAP225) managed to close…

  • Good moods in Asia, is AU a buy at 0.80?

    September 13, 2017

    Summary: moods were solid in Asia with major bourses seeing gains no major changes on the fx, some interesting discussion around AUD BTCUSD slides below $4k on JPM Dimon’s comments It was a relatively upbeat session in Asia with the Korean Kospi 200 (KOSP200 on xStation) seeing gains as high…

  • GBP soars on CPI beat. Stocks add to recent gains

    September 12, 2017

    Summary: GBP is making a strong move higher after CPI Y/Y rose 2.9% vs 2.6% exp Stocks also gaining with the US500 posting all-time high and closing in on 2500 Bitcoin rising with talk of North Korean demand OPEC raises oil demand forecast  The GBP has been the standout performer…

  • OPEC raises monthly Oil demand forecasts. Oil and Oil.WTI divergence grows

    September 12, 2017

    Summary: OPEC has raised its global oil forecast for 2017 and 2018 August saw OPEC production fall by 79k per day Oil price looking to recover Friday’s losses The monthly OPEC report has offered some good news for oil bulls with an upward revision announced for both the current and…

  • EURUSD completes round trip from ECB. Where next?

    September 12, 2017

    Summary: Constancio speaks about keeping "sufficient" monetary policy accomodation Euro little changed on the day after recent rises  EURUSD back at pre-ECB levels Speaking in Frankfurt Vitor Constancio, the vice-president of the ECB, has made several comments on monetary policy with the overall feeling being somewhat dovish. Selected comments are as…

  • Crude higher on OPEC’s headline, yields on the rise

    September 12, 2017

    The British pound is by far the strongest currency in G10 following higher than estimated inflation numbers for August, even as higher price dynamic is likely to dial back purchasing power of UK’s consumers. An increase has been boosted by higher prices in sectors such as clothing and footwear, household…

  • North Korea eyes Bitcoin amid renewed sanctions

    September 12, 2017

    Summary: Hackers from North Korea step up Bitcoin attacks amid renewed sanctions Swiss town is going to accept tax payments in Bitcoin Bitcoin approaches its key technical level The UN Security Council approved yesterday new sanctions aimed at punishing North Korea for its latest missile and nuclear tests, though the…

  • GBP jumps on highest core inflation since 2011

    September 12, 2017

    Summary: UK’s inflation readings for August come in above forecasts across the board BoE could slightly tighten up its stance at its Thursday’s meeting GBPUSD pops up to the highest level since September 2016 UK inflation sped up in August by far more than estimated coming in at 2.9% yoy…

  • Economic calendar: Inflation day for two G10 currencies

    September 12, 2017

    Summary: Tuesday begins a critical period for the pound this week Swedish CPIF important to watch in the morning Crude oil stocks by API scheduled in the evening Tuesday is slated to bring some volatility across the FX space given two significant inflation releases coming from Europe. Besides, there will…

  • Asian shares hit highs, Solberg re-elected in Norway

    September 12, 2017

    Summary: Good moods in Asia, MSCI at 10-year high, JAP225 surges NZDUSD declines as USD recovers on higher yields Solberg wins in Norway, could that support NOK today? Asian session passed in very good moods as investors cheered calmer geopolitical situation and smaller than expected impact of the Irma Hurricane…

  • Risk-on flows seen to start the week

    September 11, 2017

    Summary: Stock markets begin the week moving higher Apple rises on leaked new iPhone Bitcoin slides on more Chinese hostility Results from elections in Norway and UK government vote to watch going forward The European equity markets have begun the new week with upbeat spirits which is a consequence of…

  • UK MPs to vote on repeal bill; GBP edging higher

    September 11, 2017

    Summary: UK government will vote overnight on UK repeal bill Corbyn has told Labour MPs to oppose the bill  GBP making tentative gains at the start of what could be a big week  Shortly after midnight Britain’s parliament is expected to vote on whether the coalition government should have the…

  • Elections in Germany: 8 things you need to know

    September 11, 2017

    Summary: Elections in Germany will take place on September 24 - the last major political event in Europe this year Coalition outcomes could be decisive for market reaction DE30 remains in upward trend, could be the most affected Politics plays a major role on financial markets this year. There was…

  • Apple stock rises as iPhone X leaked

    September 11, 2017

    Summary: Apple expected to announce new iPhone (iPhone x) Tuesday 12th September Details leaked over the weekend  Apple around 1% higher in the pre-market The general risk-on mood seen across the markets today has contributed to the rise seen in the US500, with Wall Street expected to enjoy a strong…

  • NOK drops as Norway heads to the polls

    September 11, 2017

    Summary: Polling stations open in Norway for electoral race Anticipated to be the closest in decades NOK falling lower. USDNOK (+1.0%) The Norwegian election is widely expected to be very close, with many experts believing the race for the next prime minister is too close to call. The two front…

  • US yields rebound while Irma risks fade away

    September 11, 2017

    The US dollar seems to be poised to pare its recent losses as the US10Y yield is already increasing as much as 5bps (it’s trading just shy of 2.1%) on softer damages made thus far by the hurricane Irma. The greenback is continuously advancing the most against the safe haven currencies…

  • China fuels declines on Bitcoin once again

    September 11, 2017

    Summary: Chinese watchdog orders the national digital exchanges to close Russian Finance Minister sees no reasons for prohibiting cryptocurrencies Bitcoin (BTCUSD on xStation5) may test an important support area shortly It seemed that the end of the last week would be calm however, the Chinese watchdog weighed in once again…

  • DE30: Stocks on the rise as new week unfolds

    September 11, 2017

    Summary: European stock markets have started off on the right foot as geopolitical risks have receded DAX (DE30 on xStation5) has opened with a huge bullish gap Europe’s insurers rally on softer Irma damages The European equity markets have begun the new week with upbeat spirits which is a consequence…

  • Economic calendar: Calm Monday and big week for GBP

    September 11, 2017

    Summary: ECB’s Coeure speech is the sole noteworthy event scheduled for today British pound is expected to be the most interesting currency to watch this week Australian dollar has to pass a major test to continue rising The beginning of the new week is clearly positive owing to three reasons…

  • Risks abate as Irma downgraded to category 1

    September 11, 2017

    Summary: JPY and CHF weaken as hurricane Irma has been downgraded to category 1 North Korea refrains from launching another ballistic missile Chinese inflation accelerate more than expected in August Asian session has abounded with quite upbeat moods as stock markets have performed quite well as Irma-related risks have abated…

  • Three pairs to watch next week: USDJPY, EURGBP, EURCHF

    September 8, 2017

    USDJPY  The pair fell to its lowest level since last November this week with a potentially major breakout below the 108.35 level. As long as price remains below here then further declines could lie ahead. The drop has eliminated the chance for a double bottom to form with the lows…

  • Canadian employment rises but job quality falls

    September 8, 2017

    Summary: Canadian employment change for August rises to 22.2k vs 17.8k exp However, increase down to huge rise in part-time jobs. Full time roles fell USDCAD remains near weekly lows The strong recent streak of Canadian data has seemingly continued this afternoon with the employment change figure coming in at…

  • Would you like to visit Bitcoin museum?

    September 8, 2017

    Summary: Digital currencies remain subdued as the week is set to end Tel Aviv gets a new Bitcoin ATM and BTC museum Major Indian Bitcoin exchange integrates with Blockchain wallet The last day of this week on the cryptocurrency market is passing quite calmly amid no swings of note. However,…

  • GBP remains intact on mixed UK data

    September 8, 2017

    Summary: UK industrial output meets expectations while construction production declines more than expected Manufacturing production the brightest spot of today’s data GBP remains unimpressed with the release still eyeing this year’s high The last bag of the macroeconomic data from the UK’s economy this week was fairly mixed. Although, manufacturing…

  • DE30: Moderate losses seen across European stock markets

    September 8, 2017

    Summary: European stocks have started slightly lower trimming gains after the ECB DAX (DE30 on xStation5) has failed to break a key resistance Volkswagen (VOW.DE) advances moderately as ex-VW engineer to appeal prison sentence The latest hours on the financial markets have been exceptionally stormy. Firstly, the European stock markets…

  • US dollar being hit from all sides, Gold above $1350

    September 8, 2017

    Summary: EURUSD nears 1.21, AUDUSD on 2-year highs as US dollar tumbles US bond yields collapse on Irma fears, monetary policy Gold above $1350, USDJPY breaks the key level Data from Asia unimpressive but markets focusing on other things A massive weakness of the greenback is the name of the…

  • Euro rises on ECB meeting; Gold hits 2017 peak 

    September 7, 2017

    Summary: Euro moving higher after ECB leaves all rates unchanged Draghi errs on the dovish side but stops short of any major hints Biggest jump in initial jobless claims since 2012 drives Gold to YTD high Crude inventories rise the most since March The highly anticipated ECB meeting didn’t disappoint…

  • Oil.WTI holding up despite DOE rise

    September 7, 2017

    Summary: Weekly DOE inventories increase by 4.6M Largest increase since March, but expected due to refinery outage after Harvey Oil.WTI remains above $49 and close to 1-month high A larger than expected build in the weekly DOE inventory release has had minimal negative impact on the oil price with traders…

  • Gold makes fresh 2017 peak

    September 7, 2017

    Summary: Gold has added to recent gains and made another 2017 high Large rise in initial jobless claims caused spike higher Price higher by more than $50 in last 2 weeks The breakout rally seen in Gold has shown little sign of abating today with the precious metal rallying to…

  • “exchange rate is not a policy target”

    September 7, 2017

    Summary: Draghi begins press conference in Frankfurt Earlier ECB kept all rates and QE unchanged Euro moving higher and DE30 coming under pressure ECB president Mario Draghi has begun his press conference in Frankfurt following the earlier announcement that all rates would be kept unchanged and that QE would run…

  • ECB stays on hold, QE to last

    September 7, 2017

    The European Central Bank decided to leave all three interest rates unchanged as expected. The rates are as follows: Main refinancing facility: 0% Deposit facility: -0.4% Marginal lending facility: 0.25% Besides the decision on rates we present the most important references included in the statement: QE running until the end…

  • Markets shrug off ECB risks, hurricane Irma affects grains

    September 7, 2017

    Stocks, bonds, currencies all of them seem to be completely unimpressed with the ECB’s decision, it might be quite a bizarre reaction taking into account how the ECB’s results could be important for markets. In a nutshell, the euro is already the best performing currency in G10, German yields are…

  • DE30: European equity markets on the rise ahead of ECB

    September 7, 2017

    Summary: European stock markets are rising as the ECB decision looms German DAX (DE30 on xStatino5) makes a big breakout Two possible scenarios during the Draghi’s press conference Even as there are some simmering concerns with regard to the European Central Bank decision, stock markets have been unimpressed thus far.…

  • SEK declines on noteworthy Riksbank decision

    September 7, 2017

    Summary: Riksbank leaves interest rates along with bond buying program unchanged Inflation and GDP forecasts for 2018 revised up, a first rate hike still seen in mid-2018 CPIF has been adopted as a formal target variable for monetary policy The Swedish central bank decided to leave interest rates and its…

  • Economic calendar: Two central banks could shake FX

    September 7, 2017

    Summary: Riksbank decision will be the most important before noon ECB should attract most of attention, euro could be exposed Crude oil stocks report should reveal a drop fueled by Harvey’s consequences Thursday’s macroeconomic calendar is packed with two huge events related to central banks. The Swedish Riksbank is going…

  • AUD slightly lower, debt ceiling in US extended

    September 7, 2017

    Summary: Australian dollar got a few quite disappointing macroeconomic readings FED’s Fisher steps down as vice Chairman of the Federal Reserve Temporary debt ceiling deal struck, USD got a slight boost The Asian session was a very calm one as all major indices hung around the breakeven line while the…

  • Loonie surges higher on surprise BOC rate hike

    September 6, 2017

    Summary: The Canadian dollar has rapidly appreciated after the BOC surprised markets by announcing a 0.25% rate hike The DE30, Oil.WTI and cryptocurrencies are also enjoying big updays Antipodean currencies have pared some of Tuesday’s gains Highly anticipated ECB meeting tomorrow  The second G10 central bank rate decision of the…

  • AUD and NZD pare Tuesday’s gains

    September 6, 2017

    Summary: AUD and NZD are both trading lower today Yesterday’s session saw large jumps higher for the Anitpodeans Is NZDUSD set to resume its downtrend? Tuesday saw huge gains in both the Australian dollar and New Zealand dollar and whilst a case for some appreciation revolving around the RBA rate…

  • Oil in demand amid benign FX session

    September 6, 2017

    Amid quite the light macroeconomic calendar before noon, moves across the FX market have been subdued so far. Looking at the G10 basket one could notice that the Antipodean currencies are among the weakest ones - both are losing more or less 0.3% against the greenback, not much but it’s…

  • First sale for Bitcoin in Dubai

    September 6, 2017

    Summary: First sale of high rise apartments for Bitcoin (BTCUSD on xStation5) will take place in Dubai Bitcoin is slowly but surely nearing its all-time high Bank of Russia cools down Bitcoin buyers’ exuberance Virtually all key digital currencies are rising during today’s session but all of them are quite…

  • 5 things you need to know ahead of the key ECB meeting

    September 6, 2017

    Summary: ECB to decide on monetary policy on Thursday, this is the most anticipated ECB meeting so far this year Bank could provide hints on tapering of bond purchases Inflation forecast could be trimmed because of strong euro EURUSD in a clear upward sequence, key levels are 1.1660 and 1.2070…

  • Commodity markets on alert as Hurricane Irma nears

    September 6, 2017

    Summary: Hurricane Irma is forecast to be much more powerful in comparison to Harvey Hurricanes’ damages could potentially ease to raise the US debt ceiling Key markets which could be afflicted the most by Irma Weather in some parts of the US has been exceptionally dangerous of late. While losses…

  • Bank of Canada preview: where next for USDCAD?

    September 6, 2017

    Summary The Bank of Canada is about to decide on rates today, market is split in expectations USDCAD has slipped below 1.24 for the first time since 2015 Canadian dollar enjoys full backing of the economy and the bond market, could extend its rally Most of the market attention this…

  • Modest GDP print in Australia highlights weak Asian session

    September 6, 2017

    Summary: Australian Q2 GDP increased 0.8% q/q, less then expected AUDUSD still locked into short term consolidation Chinese equities decline amid weak moods in Asia Ugly wage data from Japan does not bode well for the yen This was not the strongest session in Asia as fears crept, from North…

  • Economic calendar: BoC meeting key event for today

    September 6, 2017

    Summary: Bank of Canada meeting is going to be the key event scheduled for today US non-manufacturing ISM in the spotlight during afternoon API to release its weekly report on a change in oil stocks Wednesday is going to be dominated by the Bank of Canada meeting. In this respect,…

  • Antipodeans surge whilst USD comes back under threat

    September 5, 2017

    Summary: AUD and NZD are both sitting on substantial daily gains RBA meeting and GDT auction contribute to the bid USD back under pressure after Brainard, Trump tweet and poor factory data Cryptocurrencies are attempting to recover after recent declines UK services PMI hits 11-month low Antipodean currencies are enjoying…

  • GDT rise adds to NZD rally

    September 5, 2017

    Summary: NZD enjoying a strong rise today. NZDUSD +1.3% NZDUSD now retesting the 21 EMA on D1 Increase in GDT auction adds to Kiwi rally The New Zealand dollar is one of the best performing currencies today, with the Kiwi surging across the board. NZD has risen against all of…

  • Wall Street open to provide catalyst for US500 gap fill?

    September 5, 2017

    Summary: US Stock markets reopen after long weekend US500 remains below last week’s closing level Gap down seen on rising North Korea tensions US stock markets will  open this afternoon for this first time this week, slightly lower than where they ended on Friday. The reason for the gap seen…

  • Brainard (Fed) comments do little to help USD

    September 5, 2017

    Summary: Brainard says may be prudent to raise rates more gradually than median forecast Also suggests she is ready to start shrinking the balance sheet USD drifting lower as US participants return As US traders return from their bank holiday weekend celebrating labour day, the US dollar has come under…

  • North Korea-fueled uncertainty still floats across markets

    September 5, 2017

    There have been some reassuring reactions seen on markets during the beginning of today’s trading as all the European equity markets have started with quite rosy moods and the US dollar has crept higher playing down another possible launch of an ICBM by North Korea. However, things have changed moderately…

  • Bitcoin closes divergence with USDJPY as coins lick their wounds

    September 5, 2017

    Summary: Cryptocurrencies lick their wounds after a massive sell-off seen on Monday Bitcoin (BTCUSD on xStation5) closes a divergence with the USDJPY Russian Deputy PM suggests the central bank has approved the country’s first digital currency exchange After a hefty sell-off seen at the beginning of the week, all virtual…

  • DE30: European stocks recoup losses sparked by North Korea

    September 5, 2017

    Summary: European stock markets have started off on the right foot after North Korea’s deterrence DAX (DE30 on xStation5) is on track to breach a crucial resistance zone Merck (MRK.DE) gains in the morning following the company’s reports After the hectic beginning of the week, one could notice that investors…

  • RBA leaves rates unchanged, AUD remains high

    September 5, 2017

    Summary: RBA leaves rates at 1.5%, warns against AUD appreciation Mixed data from Asia, China shows growth in services AUDUSD could still attack 0.80 The RBA was not expected to change interest rates so this decision comes as no surprise. The question was if the central bank could use somewhat…

  • North Korea tensions rise. Cryptocurrencies plummet

    September 4, 2017

    Summary: Gold hits highest level since November as North Korea test Hydrogen bomb Large-scale selling seen in Cryptocurrencies  Oil.WTI has gained and is close to moving above last week’s high RBA rate decision overnight Gold prices soared early during the Asian session to reach $1337/oz as markets were once again…

  • Crypto sell-off gathers pace

    September 4, 2017

    Summary: Large-scale selling seen in Crytpocurrencies Bitcoin down more than 8% and under 4300 ETHUSD has lost almost a third of its value since Friday We earlier noted that there were significant declines seen over the weekend in the cryptocurrency space with comments from PBOC stating that initial coin offerings (ICOs)…

  • Signs of life for the Trump trade?

    September 4, 2017

    Summary: USDMXN rose last week after 3 consecutive weekly losses Pair has fallen strongly this year. (YTD -14%)  Has the market discounted too much for Trump’s inability to pass laws? Last year saw a wild ride for the USDMXN, with the pair arguably the most sensitive to the US election…

  • Oil attempting to move higher

    September 4, 2017

    Summary:  Oil.WTI has broken above a falling trendline  A move above 47.50 would further support the case for a rally 67% of XTB clients in this market are long Oil.WTI ended last week marginally lower, with the decline marking a 5th successive weekly fall. However, price recovered somewhat into the…

  • Watch these 3 markets as Pyongyang does nuclear tests

    September 4, 2017

    Summary: Pyongyang’s nuclear test a serious sign for global leaders No easy answer for US and its allies Any military action could result in major moves on Gold, USDJPY and US500 North Korean threat is not new to the markets and each and every incident has had only limited (in…

  • Safe haven currencies in demand, stocks in retreat

    September 4, 2017

    The new week has begun with another bout of havoc following the North Korea’s detonation of a hydrogen bomb. A test has been hailed as successful and clearly complicate a picture for the US administration. In the aftermath, gold prices soared early during the Asian session to reach $1337/oz while…

  • Will RBA buoy Australian dollar?

    September 4, 2017

    Summary: AUDUSD looks to be under-priced against Commodity Price Index Technical analysis could give an advantage for bulls on AUDUSD Speculative positioning suggests cautiousness in terms of further rises in AUD The price action seen in the Australian dollar has been fairly interesting of late. The currency has thrived, however…

  • Chinese PBoC deepens Bitcoin’s slump

    September 4, 2017

    Summary: Chinese central bank calls initial coin offerings (ICOs) illegal Bitcoin (BTCUSD on xStation5) crashes 10% after striking $5000 Israeli watchdog to consider ICO regulations Dash (DSHUSD) tumbles along with its peers It looks like the Chinese central bank (PBoC) wants to crack down on the proliferation of ICOs across…

  • DE30: North Korea roils European equity markets

    September 4, 2017

    Summary: All major European stock markets have kicked off the day with losses DAX (DE30 on xStation5) marks quite a significant bearish gap at the opening RWE (RWE.DE) is down in early trading as Berenberg challenges further upside potential Another week is beginning with the same scenario - a risk-off…

  • Economic calendar: Key events for this week

    September 4, 2017

    Summary: Central banks’ decisions in the spotlight this week Employment report from the Canadian economy could bring relief for USDCAD UK’s construction PMI the sole reading of note today 9:30 am BST - UK’s construction PMI: As far as Monday is concerned, there are no many economic readings of note…

  • Gold highest since November as Korea tests hydrogen bomb

    September 4, 2017

    Summary: Korean regime tests hydrogen bomb, causes a major earthquake  Gold prices soar to the highest level this year, eye $1377 resistance Trump weighs options, US markets are closed today Gold prices soared early during the Asian session to reach $1337/oz as markets were once again surprised by a bold…

  • USD shrugs off weaker NFP as ISM hits 6-year high

    September 1, 2017

    Summary: US NFP shows 156k jobs added in August vs 180k exp and 189k prior ISM manufacturing PMI rises to 6-year high at 58.8 UK manufacturing also beats forecasts fter increasing to 55.3 Cryptocurrencies have enjoyed another strong week with several all-time highs The much talked about seasonal weakness in…

  • 3 pairs to watch next week: EURUSD, USDCAD, GBPNZD

    September 1, 2017

    EURUSD The most popular FX pair hit its highest level since the start of 2015 last week but reversed after popping above the 1.20 handle. Whilst the longer term uptrend remains intact there is now some suggestion that a pullback could be in store. Taking Fibonacci retracements from the large…

  • Nowotny lifts euro amid calm FX session as NFP looms

    September 1, 2017

    While everyone is looking forward to the NFP report, the euro has gotten a short-lived boost after remarks delivered by ECB’s Nowotny. He said that euro rises shouldn’t be over-dramatized as they are within a historical range. It has lifted the shared currency right off the bat above 1.1930. The…

  • Bitcoin plays down rising USDJPY as China challenges ICOs

    September 1, 2017

    Summary: A discrepancy between Bitcoin (BTCUSD on xStation5) and the USDJPY has widened of late Chinese National Internet Finance Association calls into question safety of coin offerings Litecoin (LTCUSD) keeps on rising with market capitalization exceeding $4 billion We mention from time to time that Bitcoin could be treated as…

  • UK’s PMI beats expectations across the board

    September 1, 2017

    Summary: UK’s manufacturing PMI unexpectedly rises in August with all components suggesting a stronger performance UK’s manufacturing output could have already bottomed out GBP hangs around the levels from before the release The UK’s manufacturing PMI unexpectedly moved up in August from 55.3 (revised up from 55.1) to 56.9 quite…

  • DE30: Equity markets start firmer following US session

    September 1, 2017

    Summary: European stock markets have opened higher after a successful session in the US DAX (DE30 on xStation5) strives to break an important resistance Thyssenkrupp (TKA.DE) capitalizes on wider job cuts so that it trims costs Looking at the European stock markets one could notice that there are no uncertainties…

  • Benign Asian session, China sets important date to watch

    September 1, 2017

    Summary: New Zealand’s terms of trade miss the forecast but stick to historically high levels Chinese Markit manufacturing PMI comes in above expectations China’s Communist Party Congress kicks off October 18 There was exceptionally calm session across the Asian markets both in equities and FX. Lack of larger moves could…

  • Risk-on flows remain whilst CAD surges on GDP beat

    August 31, 2017

    Summary: Risk sentiment continues to recover with stocks and oil both rising Better than expected Canadian GDP release sends the Loonie soaring Bitcoin hits new all-time high on US middle-class appeal Eurozone inflation rises; ECB attempt to jawbone Euro lower Stock markets are adding to their recent gains today with…

  • US stocks open higher; Wells Fargo slides

    August 31, 2017

    Summary: Green open for Wall Street with US500 closing in on all-time high US500 looking to post 3rd successive daily gain Wells Fargo is lower however after raising fake accounts estimate The bullish sentiment seen for US stocks in recent sessions has shown little sign of waning today with the US500…

  • USDCAD slumps on economic data

    August 31, 2017

    Summary: USDCAD drops almost 100 pips on strong Canadian data GDP M/M rises 0.3% vs 0.1% expected US PCE comes in inline with forecasts. Initial jobless claims tick higher The recent string of economic data from Canada has been impressive, with today’s GDP beat further supporting the notion that the…

  • Bitcoin gains popularity amid middle-class Americans

    August 31, 2017

    Summary: Cambridge University study shows middle-class Americans are growing fond of Bitcoin (BTCUSD on xStation5) Australian government challenges safety of Bitcoin usage Litecoin (LTCUSD) marks its new all-time high amid a benign session seen in other digital currencies In spite of the fact that most of cryptocurrencies have been quite…

  • EMU inflation beats forecast but fails to lift euro

    August 31, 2017

    Summary: EMU CPI easily beats the consensus in August (a preliminary reading) Core gauge turns out to be in line with the forecast Euro remains confused possibly discounting mounting pressure from the ECB The euro area inflation increased more than anticipated in August which could act in favor of the…

  • DE30: Green opening across European markets

    August 31, 2017

    Summary: European stock markets have begun higher ahead of EMU inflation DAX (DE30 on xStation5) rejects a try to break a key resistance HeidelbergCement gains in the aftermath of the Citi’s recommendation Today’s data on EMU is unlikely to be conclusive but could steer markets’ expectations ahead of the ECB’s…

  • Could job report help US dollar? 3 markets to watch

    August 31, 2017

    Summary: US dollar has recovered from the lows on better domestic data The NFP report on Friday crucial for the Fed EURUSD, USDJPY, USDCAD at potential turning points The US dollar has been struggling for much of this year and this week started with another round of a sell-off. Renewed…

  • Data from Asia leave NZD exposed

    August 31, 2017

    Summary: Mixed data from China, soft readings from New Zealand take a toll on the NZD - the weakest G10 currency today Solid capex report from Australia supports AUD amid strong USD NZDUSD could be headed below 0.70 Thursday is full of macroeconomic reports and many have been already released…

  • Another large DOE draw fails to support crude

    August 30, 2017

    Summary: Weekly DOE inventories drop by 5.4M barrels Print lower than expected and prior but In line with API Oil.WTI has reacted negatively and fallen back near its 1-month low  A 9th successive drop in the weekly DOE inventory release has failed to cause any immediate upside in the price…

  • Stock of the week – IBM

    August 30, 2017

    Summary: IBM (IBM.US) stock price trades around 52 week lows Business restructuring has been slow but high dividend yield could attract investors Average target price from brokerage houses implies a 12% upside for the stock IBM is one of the largest company listed on Wall Street. The IT giant has…

  • USD GDP rises to 3%. Where next for Gold?

    August 30, 2017

    Summary: Preliminary USD Q2 GDP comes in at 3.0% Comfortably above 2.7% exp or 2.6% prior Gold prices fall back towards $1300 but remain above key breakout level An impressive rise in personal consumption has boosted the latest GDP figures from the US with a 3.0% rise seen in the…

  • EURUSD drops to test 1.19 after data releases

    August 30, 2017

    Summary: German flash CPI for August rises to 1.8% Y/Y Spanish flash CPI also rose earlier to +1.6% Y/Y French and Eurozone CPI releases tomorrow ADP employment change shows +180k The second of four key inflation metrics to be released from the Eurozone area in just over 23 hours has…

  • EURUSD awaits crucial data

    August 30, 2017

    The EURUSD has been in a retreat so far as the US dollar has gotten back some of its appeal. It’s worth mentioning that the greenback has been the strongest currency in the G10 as of yet albeit the upcoming data could reverse or hasten that move. Better performance of…

  • Does Ethereum set the stage for a decline?

    August 30, 2017

    Summary: Ethereum (ETHUSD on xStation5) could be eager to a decline in the nearest future Chinese watchdog considers cracking down on ICOs Russian energy companies could collaborate with Bitcoin (BTCUSD) miners The latest hours have been exceptionally calm with regard to the major cryptocurrencies. We’ve already accustomed to wild volatility…

  • 3 markets to watch as N.Korea fears abate

    August 30, 2017

    Summary: A tepid response from the US calmed financial markets US dollar recovers vs. yen, euro - can we see a turnaround? Gold may retest $1300, this time as a support Pyongyang reminded the World and the markets that it’s not going to seat quiet and just digest the August…

  • DE30: European equity markets lick their wounds

    August 30, 2017

    Summary: European stock markets have opened higher as Wall Street has shrugged off a North Korean’s threat German major index (DE30 on xStation5) eyes a broken support area HeidelbergCement (HEI.DE) gains following a recommendation from Kepler Cheuvreux Today is a big day for the euro and thereby the European indices…

  • Economic calendar: Busy day for FX traders

    August 30, 2017

    Summary: Preliminary inflation readings from Spain and Germany could steer market’s expectations ahead of the ECB’s meeting US ADP and a second release of GDP growth for Q2 on the agenda DOE’s report on oil inventories and a possible belated effect coming from the hurricane Harvey Two past days were…

  • Risk-off slightly abates, oil loses ground again

    August 29, 2017

    It was stormy Tuesday across financial markets which was made by North Korea. Even though a risk-off mode has abated to some extent, the European equity markets have marked massive declines. After the bleak opening, buyers have hardly managed to recoup their losses. As a result, the German DAX (DE30…

  • Is Japanese stocks’ valuation justified?

    August 29, 2017

    Summary: USDJPY suggests the Japanese NIKKEI (JAP225 on xStation5) could be overvalued P/E ratio points to massive overvaluation of the JAP225 The Japanese index is on the verge of a larger move downwards There is nothing new that the JAP225 is inversely correlated with the USDJPY currency pair. It stems…

  • US consumer confidence a much needed boost for the US dollar

    August 29, 2017

    Summary: The key measure of consumer confidence in the US improves defying expectations US dollar tries to recover from today’s losses USDJPY fight at the key level, a reversal is possible Conference Board has just released the most closely watched index of consumer confidence in the US. The index climbed to…

  • Grains remain depressed after Monday’s data

    August 29, 2017

    Summary: Grains failed to maintain their gains once again US wheat crop season is forecast to be lackluster Monday’s data had a neutral impact on prices We’ve experienced a subsequent unsuccessful try to maintain gains on grains which have emerged earlier this year. Those moves have been ushered in by…

  • North Korea rattles markets, Swiss franc in demand

    August 29, 2017

    The North Korean thread has drawn most of attention thus far as country has launched another ballistic missile. It brought about a wave of risk-off across financial markets where the Swiss franc, Japanese yen and gold have been the most beneficiaries. The Switzerland currency is gaining as much as 1.2%…

  • Ripple spikes on China-related rumors

    August 29, 2017

    Summary: Ripple (XRPUSD on xStation5) spikes on fresh China-related rumors Ethereum (ETHUSD) keeps rising and could eye its all-time high before long Cryptocurrency market strikes another new record capitalization Moves across the cryptocurrency market tend to be huge, hence a yesterday’s spike seen on Ripple couldn’t have been surprising. The…

  • DE30: Bloodbath seen across European markets

    August 29, 2017

    Summary: European equity markets plunge across the board following the North Korean missile test DAX (DE30 on xStation5) tests August’s lows while EURUSD soars above 1.2050 ProSiebenSat.1 being smashed after cutting its guidance for the German TV advertising market in 2017 After a few weeks of relative calm, North Korea…

  • EURUSD breaks above 1.20 with no data ahead

    August 29, 2017

    Summary: The market remains vulnerable after North Korea’s provocation  Gold, yen surge as investors shun risk. EURUSD continues its rally The upcoming session lacks important macroeconomic reports The European currency continues its rapid rise as geopolitical tension rose after North Korea launched another missile. What’s important, the move on the…

  • Gold, yen surge as Korea plays with fire

    August 29, 2017

    Summary: North Korea fires a ballistic missile over Japan Gold, yen surge as investors shun risk USDJPY could create a buying signal if today’s candle closes in the green It looks as if markets got used to North Korean threat. Even though the news of Korean rocket test that breached…

  • Gasoline prices soar, oil plunges on Harvey havoc

    August 28, 2017

    Summary: Gasoline prices jump as refining centers along the Texas coast wind down their activity WTI’s discount to Brent oil widens the most since August 2015 Oil prices fail to maintain above an important technical support The hurricane Harvey has already brought some havoc along the Texas coast compelling many…

  • Swedish govt avoids no-confidence vote. What does it mean for SEK?

    August 28, 2017

    Summary: Swedish government abandons its plan to increase taxes Opposition coalitions resigns from a no-confidence motion USDSEK looks well priced against the bond market The Swedish currency has gotten a great deal of upbeat revelations lately. Firstly, the government decided to upgrade its macroeconomic forecasts penciling in higher GDP growth…

  • Contrarian trade opportunities: AUDUSD, Sugar

    August 28, 2017

    Summary: the latest CFTC data show negative net positioning in USD, highly positive in AUD and EUR  Sugar is among commodities where prices have been depressed by speculators The CFTC data that is being released at the end of each trading week provides interesting view on market positioning of speculative…

  • Koreans pump Dash price, Litecoin surges as well

    August 28, 2017

    Summary: Dash (DSHUSD on xStation5) surged over the weekend as Korean traders rushed to buy the virtual currency Litecoin (LTCUSD) went crazy as well as it emerged as a safe haven of cryptocurrencies Ripple (XRPUSD) continues sliding as it’s opened the new week with a bearish gap The cryptocurrencies market…

  • DE30: Euro’s surge drags DAX down

    August 28, 2017

    Summary: European stock markets have gotten underway mostly lower following the euro’s surge DAX (DE30 on xStation) marked a bearish gap at the opening All stocks within the DE30 decline in the morning, BMW unveils its new cars When we were gearing up for a Draghi’s appearance in Jackson Hole…

  • Oil awaits the hurricane, active rigs fall

    August 28, 2017

    Summary: Number of active rigs fell because of the hurricane that hit the US Market’s positioning doesn’t bode well for buyers Oil consolidates between 47.10 and 48.40  U.S. energy firms cut oil rigs for a second week in a row ahead of Hurricane Harvey and as a more than year-long…

  • EURUSD highest since January 2015 after Jackson Hole

    August 28, 2017

    Summary: EUR surges higher, USD tanks on Jackson Hole speeches Draghi stays upbeat but stops short of providing policy details EURUSD highest since the start to 2015, can it crush 1.20? A famous Jackson Hole symposium resulted in big market moves once again. Even though speeches presented by Fed’s Yellen…

  • Draghi at Jackson Hole meeting

    August 25, 2017

    ECB’s Draghi is starting his speech at Jackson Hole meeting. We provide below his key statements:  global recovery is firming up - this upbeat comment helps climb EURUSD above 1,19 handle; Without stronger potential growth, the cyclical recovery we are now seeing globally will ultimately converge downwards; We need to raise…

  • 3 pairs to watch next week: NZDUSD, GBPUSD, EURAUD

    August 25, 2017

    Three pairs to watch next week - NZDUSD, GBPUSD, EURAUD NZDUSD  A large head and shoulders has formed in recent weeks after the market pulled back from its 2017 peak of 0.7557. The head and shoulders themselves are fairly easy to identify but there is a degree of subjectivity in…

  • USD drops on Yellen despite no monetary policy comments

    August 25, 2017

    Summary: Fed chair Yellen makes no reference to monetary policy in speech USD tumbles in immediate reaction Volatile trade seen in Gold The highly anticipated speech from Fed chair Yellen has come as something of a dud with there being no mention of monetary policy. The following are selected excerpts…

  • Sharp drop in durable goods offsets prior rise

    August 25, 2017

    Summary: US durable goods orders contracted sharply in July The 6.8% decline more than offsets the prior increase of 6.4% USD little changed going into Yellen A sharp drop of 6.8% in the most recent US durable goods orders data in month-on-month terms has more than offset the rise seen…

  • Stocks pause ahead of Yellen and Draghi

    August 25, 2017

    Summary: The US500 is little changed ahead of the final cash session of the week The market is trading in a narrow range Jackson Hole speakers could cause next move The US500 is edging higher and making tentative gains ahead of what could be a defining moment. The Jackson Hole…

  • Euro pops higher, hurricane Harvey lifts oil prices

    August 25, 2017

    FX traders appear to be cognizant of many unknowns related to Draghi and Yellen speeches in Jackson Hole thereby they dial back their risk appetite while the EURUSD has swung so far. For the same reason, stock investors have been cautious as well and have managed to make modest gains…

  • Dash pushes forward on new sponsorship offer

    August 25, 2017

    Summary: Dash (DSHUSD on xStation) could take advantage of a new sponsorship offer Russian deputy PM supports a state-backed cryptocurrency Bitcoin (BTCUSD) nears its all-time high making $5,000 yet more probable Dash has been growing quite considerably over the course of recent hours and that move has been propped up…

  • German IFO confirms stellar economic outlook

    August 25, 2017

    Summary: Headline IFO index comes in above estimations IFO expectations index strikes highest level since January 2014 EURUSD breaks out a crucial support area but corrects after IFO Although, we are still a few hours off the Draghi’s appearance, the euro has been already fairly volatile breaking out an important…

  • Economic calendar: Key day in Jackson Hole

    August 25, 2017

    Summary: Draghi (ECB) and Yellen (FED) are going to speak in Jackson Hole later in the day US durable goods orders (preliminary) on the agenda German IFO ends the week with soft indicators from that country Needless to say that most of attention is on Jackson Hole today where both…

  • Chinese equities have the best week this year

    August 25, 2017

    Summary: Hang Seng CE soars above 2% to cap the best week in more than a year Chinese equities gain as profits increase FX moves are limited with GBP and CAD in minor gains What a week for the Chinese stocks it was! Hang Seng China Enterprises Index (CHNComp on…

  • US data has little impact as traders look to Jackson Hole

    August 24, 2017

    Summary: US existing home sales drop to lowest level in almost a year Initial jobless claims remain robust SEK rising and pushing USDSEK down to key support at 8.00 Jackson Hole Symposium begins The number of US homes sold in the month of July came in below consensus estimates at…

  • SEK soars on Hawkish Riksbank comments

    August 24, 2017

    Summary: Swedish krona (SEK) rallying strongly after Jochnick comments Jochnick, the Riksbank deputy governor, said growth and inflation stronger than anticipated USDSEK testing key support at 8.000 There’s been a sharp move higher in the Swedish Krona today following comments out of the country’s central bank. Kerstin af Jochnick, first…

  • US unemployment claims remain near historic lows

    August 24, 2017

    Summary: Weekly US initial jobless claims come in at 234k (vs 237k exp and 232k prior) Continues to signal strength in the labour market USD lacking direction in Jackson Hole Today’s economic calendar is light in terms of market moving releases with the weekly initial jobless claims from the US…

  • Ups and downs across FX market

    August 24, 2017

    It has been quite a benign session on the FX market thus far. First of all, the pound has managed to recover after fairly a bleak print of GDP. Nonetheless, it has to be mentioned, even though UK’s GDP growth could appear to be reassuring on the face of it,…

  • EURUSD – what to expect from Jackson Hole?

    August 24, 2017

    Summary: Mario Draghi will deliver a key speech at Jackson Hole on Friday (6pm BST) Investors will look for details, lack of those could end in disappointment EURUSD could break out of the consolidation Jackson Hole speeches from Janet Yellen and Mario Draghi are the most anticipated market events in…

  • GBP wobbles as UK consumer spending slows down

    August 24, 2017

    Summary: UK consumer spending rises the least since Q4 2014 in Q2 Overall GDP growth matches the first estimate GBPUSD wobbles in the aftermath amid softening consumer spending The UK economy grew 1.7% yoy and 0.3% qoq in the second quarter this year matching the first estimates. On the surface,…

  • DE30: European stocks start firmer

    August 24, 2017

    Summary: European equity markets have started the day higher DAX (DE30 on xStation5) has bounced off a resistance RWE (RWE.DE) rises as the company could become a leader in Asian power markets The European stock markets have begun Thursday’s trading quite positively, gains have been no so heavy so far…

  • Economic calendar: UK’s GDP in the spotlight as Jackson Hole kicks off

    August 24, 2017

    Summary: The symposium in Jackson Hole begins today UK’s GDP release (a revision) is poised to be most important one A few US readings with a doubtful impact on the greenback though The symposium in Jackson Hole kicks off officially on Thursday. Even as major speeches are scheduled on Friday,…

  • NZD gets a slight boost after trade balance data

    August 24, 2017

    Summary: July’s trade data from New Zealand comes in above estimations US AAA rating from Fitch could be at stake if debt ceiling not raised NZDUSD hangs around a crucial technical level There was quite a benign session across Asia on Thursday with just negligible swings in the FX space.…

  • Oil rises after DOE release while GBP falls lower

    August 23, 2017

    Summary: Oil.WTI has moved back above the $48 handle after another DOE drawdown EURGBP trades above 0.92 at 8-year high US stocks drift lower but remain higher on the week The biggest economic release of the week for Oil traders has shown yet another decline in DOE inventories, with a drop…

  • Another draw seen in the DOE report

    August 23, 2017

    Summary: Weekly DOE inventories decline by 3.3M  18th drop seen in the past 20 releases but US production increases Oil.WTI remains in consolidation The biggest economic release of the week for Oil traders has shown yet another decline in DOE inventories, with a drop of 3.3M announced this afternoon. The…

  • US PMIs provide little clarity for the Buck 

    August 23, 2017

    Summary: US flash services PMI comes in at 56.9 vs 55.0 exp Manufacturing equivalent misses forecast with print of 52.5 large short positioning in the USD could signal gains ahead The main economic release from the US today has offered mixed messages on the US economy with the services PMI…

  • US stocks open lower

    August 23, 2017

    Summary: US stock markets open lower Tuesday saw strong gains for all major US indices However, a lower low may have formed with yesterday’s peak The Wall Street open has seen all three major US indices open lower than last night’s close with the US500, US100 and US30 all currently…

  • Summer lull not seen across Euro Area

    August 23, 2017

    Preliminary readings of PMIs across the European economies were quite solid justifying the ongoing upturn in economic growth. A key takeaway from today’s releases is the fact that the rosier economic backdrop in the Eurozone could ensure more conviction for the ECB in terms of a reduction of the bond…

  • Some fatigue on Ripple, Bitcoin Cash gets support

    August 23, 2017

    Summary: Ripple’s rally (XRPUSD on xStation5) faces some obstacles Egyptian central bank weighs in to the first Bitcoin (BTCUSD) exchange launch Blockchain.info will be gradually supporting Bitcoin Cash We wrote about an outstanding rally seen on Ripple yesterday which was yet extended to some extent. However, after striking $0.295 the…

  • DE30: Stocks begin mixed, DAX faces crucial resistance

    August 23, 2017

    Summary: After the stellar US session, European stock markets kick off higher but reverse thereafter German DAX (DE30 on xStation5) faces a critical resistance line ProSiebenSat.1 (PSM.DE) declines the most within the German index After a rosy session in the US, European investors have begun the day with upbeat spirits…

  • Euro outperforms its peers as PMIs prop up ongoing improvement

    August 23, 2017

    Summary: Manufacturing PMIs from European economies easily beat forecasts Services readings turn out to be equivocal Euro outperforms its peers and rebounds sharply in the aftermath In a run up to a slew of PMI releases scheduled for today, there were some concerns pertaining to a possible slowdown which could…

  • Economic calendar: PMIs, Draghi and more on the agenda

    August 23, 2017

    Summary: ECB’s Draghi is going to take the floor in the morning Preliminary PMIs (both services and manufacturing) from all around the world Oil inventories data is worth looking at in the afternoon The economic calendar is packed with many significant releases with an appearance of Draghi being a cherry…

  • NZD a loser in Asia

    August 23, 2017

    Summary: Chinese equities soar, NZD rate declines on weaker fiscal outlook NZDUSD could be on its way towards 0.70 NZDCAD has seen a major reversal, could continue lower Asian session brought some individual movements on Wednesday as some Chinese equities soared and NZD lost ground amid otherwise relatively benign session.…

  • Equities rise alongside the Greenback

    August 22, 2017

    Summary: Good day for stock indices with the UK100, DE30 and US500 all rising US dollar also higher and weighing on Gold prices Cryptocurrencies fall lower Stock markets are in a bullish mood today with gains seen in Frankfurt, London and New York as equities attempt to recover some of…

  • Correction over for US stocks?

    August 22, 2017

    Summary: Stock indices around the globe are on the rise today US500 moves above prior resistance at 2436 Morgan Stanley says correction in US stocks is over Stock markets are in a bullish mood today with gains seen in Frankfurt, London and New York as equities attempt to recover some…

  • CAD rises on jump in core retail sales

    August 22, 2017

    Summary: Canadian retail sales rose by less than expected in June However, the core reading surged to smash expectations Overall this has had a positive impact on CAD The biggest economic release of the afternoon has shown that retail sales in Canada rose by 0.1% M/M in June. This was…

  • US dollar roars, stocks higher, commodities steady

    August 22, 2017

    The US dollar is gaining momentum during the European session without any US macroeconomics releases of note for today. The greenback is by far the best performing currency in the G10 with the heaviest gains against the GBP and NZD. There is guesswork that the pound is falling mainly on…

  • Ripple rallies on Singaporean news while Bitcoin takes a breather

    August 22, 2017

    Summary: Ripple (XRPUSD on xStation5) surged yesterday following the news coming from Singapore Bitcoin (BTCUSD) has failed of closing a bullish gap Gibraltar gets first Bitcoin ATM and works on cryptocurrency regulations Main focus of all who are interested in cryptocurrencies was on Ripple yesterday as it soared substantially getting…

  • Euro weakens as German ZEW challenges further economic improvement

    August 22, 2017

    Summary: German ZEW survey on current situation inches up from 86.4 to 86.7 Companies in Germany trim their economic outlook with an expectations index declining from 17.5 to 10 Euro falls’ speed up following the equivocal German release The German ZEW survey revealed that while companies keep their bullish prospects…

  • DE30: European stocks open firmer ahead of PMIs

    August 22, 2017

    Summary: European stock markets have opened higher ahead of PMIs scheduled for tomorrow DAX (DE30 on xStation5) recoups yesterday’s losses Heidelberg Cement (HEI.DE) is the best performing stock on a possible Polish infrastructure boom The European markets seem to settle down across the board after a few awful events taking…

  • Economic calendar: Will retail sales help the CAD?

    August 22, 2017

    Summary: Canadian retail sales’ release is the most noteworthy report during the US session German ZEW economic sentiment for August on the agenda before noon API report on crude oil stocks could shake the commodity price Today’s economic calendar is rather calm and does not abound with many relevant readings…

  • Yen, Swiss franc lower amid subdued session

    August 22, 2017

    Summary: Safe haven flow retreats amid benign Asian session Treasury Secretary Mnuchin speaks on taxes, income Japanese firms doubt the BoJ could strike the inflation goal at all There has been exceptionally benign Asian session on the FX market with the safe haven currencies being the worst performers. The yen…

  • Oil begins the week on the back foot

    August 21, 2017

    Summary: Oil.WTI has fallen back below $48  Drop of around 2% on the day Price has retraced 50% of Friday’s rally The price of oil is sliding lower today with Oil.WTi falling by approximately 2% to trade back below the $48 handle. The final session of last week was marked…

  • Chicago Fed misses. Gold remains near 2017 peak

    August 21, 2017

    Summary: Chicago Fed national activity index -0.01 vs +0.10 exp Economic indicator sits near recent average USD lower on the day  On a quiet day of economic releases the Chicago Fed is arguably the biggest from the US. The reading of -0.01 shows this indicator has fallen back to little…

  • Steady start of the week

    August 21, 2017

    Monday’s trading is passing calmly with no larger swings seen either in currencies or stocks as well. Even as the European equity markets got underway the day with noticeable losses, they have been able to recoup some of them thus far remaining below the breakeven though (exception the UK100 which…

  • DE30: North Korea deters buyers again

    August 21, 2017

    Summary: European stock markets have kicked off the day lower across the board German DAX (DE30 on xStation5) remains closed within quite a narrow range Deutsche Post (DPW.DE) falls after the news on a possible purchase of the company’s entity The new trading week has begun with a subsequent wave…

  • Swedish Krona hits 5-month high on rising inflation 

    August 15, 2017

    Summary: Swedish Krona hits highest level since March  Underlying inflation for July rose to +2.4% Y/Y First time above Riksbank’s 2% target in 7 years A higher than expected reading for inflation in Sweden has boosted the Krona, sending the currency to a 5-month high. The latest data on inflation…

  • UK CPI sends GBPUSD to 1-month low

    August 15, 2017

    Summary: UK CPI Y/Y for July +2.6% vs +2.7% exp and 2.6% prior Core CPI Y/Y: +2.4% vs +2.5% exp and 2.4% prior GBPUSD falls to lowest level since mid July following the release  The latest inflation data has given the BoE a little more wiggle room after the CPI…

  • US stocks attempt to recoup losses

    August 14, 2017

    Summary: US indices moving higher today US500 bounced from long term trendline support 2430 potentially key support level; all-time high at 2488 possible resistance Last week saw the largest intra-day decline in the US500 in almost 3 months as investors rushed for the exit door on Thursday amidst an increasingly uncertain…

  • Oil looking to break recent range

    August 14, 2017

    Summary: Oil.WTI has traded in a narrow range for the past couple of weeks $2 range from 48.40-50.40 has contained the last 15 closing prices Price currently probing the lower bound and threatening to break out Market remains in downwards channel The price of oil is sliding so far today…

  • Gold forming a triple top?

    August 14, 2017

    Summary: Gold has fallen lower today after last week’s strong rise Price stopped just short of the previous 2017 highs Possible triple top being formed. Reversal signals here could be attractive for shorts However, a break above 1295 could see a breakout rally higher The price of Gold has dropped…

  • What to watch this week?

    August 14, 2017

    Summary: Politics on the forefront as US-North Korea tensions intensify US dollar fails to recover significantly, retail sales present another opportunity on Tuesday CAD, AUD, GBP to see impact from local reports  Summer is traditionally a calmer period for financial markets, with a lack of important data releases and many…

  • Bitcoin blasts $4,000 on faster transaction times’ benefits

    August 14, 2017

    Summary: Bitcoin (BTCUSD on xStation5) smashes $4,000 on growing exuberance about the spread of the digital currency Tensions between the US and North Korea propped up Bitcoin during the weekend Other cryptocurrencies tread water at the start of the new trading week The Bitcoin’s price surged during the weekend and…

  • DE30: European stocks get underway new week higher

    August 14, 2017

    Summary: European equity markets have started the new trading week higher German DAX (DE30 on xStation5) has opened up with a bullish gap RWE (RWE.DE) jumps higher as the full year earnings outlook improves The European stock markets did not have the successful last week as all riskier assets were…

  • JPY lower despite decent GDP print

    August 14, 2017

    Summary: JPY and CHF are among the weakest currencies in G10 Japanese GDP beats forecasts Chinese data lower across the board New Zealand retail sales comes in above a forecast, PMI misses an estimation The Japanese yen along with the Swiss franc are by far among the poorest currencies in…

  • Equities make cautious gains; USD receives CPI setback

    August 11, 2017

    Summary:  US CPI comes in below forecast at +0.1% M/M; USD takes a hit Stocks bounce but remain red for the week FOMC minutes and US retail sales economic events to watch next week USDJPY, EURAUD and GBPCAD 3 pairs to keep an eye on Following a weak PPI release…

  • Weekly TA; 3 pairs to watch -USDJPY, EURAUD and GBPCAD

    August 11, 2017

    We earlier noted the key economic release to watch out for next week (Here). Let’s know turn our attention to technical analysis and 3 FX pairs that could well be worth keeping an eye on next time out: USDJPY The USDJPY endured a bad week with the souring of risk…

  • What to watch next week?

    August 11, 2017

    Summary: Politics on the forefront as US-North Korea tensions intensify US dollar fails to recover significantly, retail sales present another opportunity on Tuesday CAD, AUD, GBP to see impact from local reports  Summer is traditionally a calmer period for financial markets, with a lack of important data releases and many…

  • US stocks open higher; Recovery or further downside ahead?

    August 11, 2017

    Summary: US stock markets have begun their cash session in the green US30 looking to recover after sizable decline yesterday Soft CPI could aide the recovery Wall Street has opened in the green for the final trading session of the week as the market looks to recover some of the…

  • US dollar down on another inflation miss

    August 11, 2017

    Summary: US CPI inflation misses forecasts, prolonging a soft streak of inflation readings US dollar is under pressure across the board EURUSD could deny a correction, looks ready to test highs again Following a weak PPI release yesterday we got another disappointing inflation figure today - this time a more…

  • Stocks remain depressed ahead of US CPI

    August 11, 2017

    This week is likely to end with a huge reversal candlestick seen in many indices which would be arguably a result of a clash between the US and North Korea. A first blow to markets took place two days ago but Wall Street survived that day little afflicted. Nevertheless, things…

  • Singapore’s watchdog warns citizens against ICOs. BTC set to break $3500?

    August 11, 2017

    Summary: Singaporean authorities warn citizens to be cognizant of risks of ICOs Ethereum (ETHUSD on xStation5) crosses $300 while Bitcoin could be set to break $3500 Total market capitalization strikes new all-time high Amid surging Bitcoin price, there are getting more warnings from miscellaneous authorities. For instance, the Monetary Authority…

  • DE30: Equity markets’ rout deepens on fresh Trump’s remarks

    August 11, 2017

    Summary: European equity markets have opened lower on risk aversion DAX (DE30 on xStation5) smashed a crucial support line Asian markets tumbled following a rout seen on Wall Street The end of the week seems to be exceptionally stormy which has been sparked by geopolitics and another remarks coming from…

  • Economic calendar: Could US CPI be a tipping point for USD?

    August 11, 2017

    Summary: Final releases of CPI across the European economies US CPI in the spotlight during the American session Two FED’s speakers on the agenda There is no doubt that a passing week has been depressed by geopolitics which sparked a massive rout across equity markets around the world. The US…

  • Wall Street marked second worst session this year

    August 11, 2017

    Summary: US equity markets tumbled following more comments from Trump Safe haven flow prevails once again SP500 (US500 on xStation5) breaks a crucial trend line "Fire and fury" seems to take its toll on Wall Street with a small delay as major indices plunged yesterday marking the second worst session this…

  • Dollar adds to its slump, USDJPY below 110

    August 10, 2017

    The Federal Reserve expects sluggish U.S. inflation to rise over the next several months while the hot labor market gets yet hotter, one of the Fed’s most influential officials said on Thursday in comments that reinforce its gradual policy-tightening plan. His speech was seen as slightly dovish, which pushed the…

  • US PPI fails to meet forecast, higher CPI at stake

    August 10, 2017

    Summary: Both headline and core PPI gauges come in below expectations US weekly jobless claims rise marginally higher than an estimate USDJPY tumbles as higher CPI is in jeopardy US PPI marked an unexpected decrease in July, the first one in nearly a year, suggesting that CPI is going to…

  • Japan to increase Bitcoin adoption while Australia considers BTC as legal tender

    August 10, 2017

    Summary: Japanese firms are expected to increase Bitcoin (BTCUSD on xStation5) acceptance in upcoming months Australian lawmakers want to see Bitcoin as an official currency Dashcoin (DSHUSD) soars and eyes a relevant resistance Bitcoin has surged lately amid wild volatility, however, a range of swings has subsided since then. Nonetheless,…

  • Stocks’ decline extends as risk-off lurks again

    August 10, 2017

    After a stormy session which took place yesterday, the European equity markets didn’t settle down in early Thursday’s trading. All major indices are trading much below the breakeven line which could suggest that political risks might be weighing on longer than expected, even as the US indices predominantly snubbed those risks…

  • RBNZ deals a blow to the NZD

    August 10, 2017

    Summary: RBNZ leaves rates unchanged as broadly expected RBNZ cuts the next year’s GDP and CPI forecasts NZD weakens the most in G10 in the aftermath The Reserve Bank of New Zealand chose to leave interest rates unchanged at its yesterday’s meeting as it was widely anticipated. The NZD spiked…

  • Markets on tenterhooks as demand for safe-havens grow

    August 9, 2017

    Summary: Escalating US-N.Korea tensions weigh on European stock indices US stocks are also lower but holding up better for now  Oil pulls back from highs despite DOE draw RBNZ set to announce latest policy mix tonight (10PM) Grains subdued heading into WASDE report The Asian session and European morning was…

  • DOE inventories drop but Oil.WTI moves lower

    August 9, 2017

    Summary: Weekly DOE inventory change falls to -6.5M Print was lower than the expected but above API  Build in Gasoline stocks also mitigates impact of drop in headline  The weekly crude oil inventories from the Department of Energy (DOE) showed a decline of 6.5M barrels in the headline reading, below…

  • Grains ahead of crucial WASDE report

    August 9, 2017

    Summary: The latest US export inspections data had just a little impact on prices US spring wheat conditions marked a first rise this year August’s WASDE report is going to come in on Thursday All major grains have been traded relatively low after making a wild increase earlier, a marginal…

  • Wall Street to open in the red

    August 9, 2017

    Summary: US stock markets to open lower US30 closed lower yesterday ending run of 10 consecutive higher closes Seasonality suggest potential for some weakness US stock futures are pointing to an unusual phenomenon of late at 2:30 this afternoon - a red open. Equities across the Atlantic have enjoyed an…

  • Trump responds to rising N. Korean tensions; Gold at 8-week high

    August 9, 2017

    Summary: Markets are currently focusing on the rise in US-North Korean tensions Trump has just responded to the latest raising of the ante Gold rising strongly to 8-week high The Asian session and European morning was dominated by the latest escalation in tensions between North Korea, with both sides swiftly…

  • Risky assets smashed as safe haven flow piles up

    August 9, 2017

    Mounting tensions between the US and North Korea have given rise to a massive safe haven flow across financial markets as it could result in even a war. In effect, European equity markets remain in a tremendous withdrawal, CHF and JPY are still in demand, gold prices rallies while the…

  • USDZAR surges after Zuma survives no-confidence vote

    August 9, 2017

    Summary: The South African currency declined yesterday before gaining a day earlier President Jacob Zuma survived a no-confidence vote USDZAR approaches a relevant resistance The past two days on the USDZAR were really stormy with a U-turn taking place yesterday. Let’s start with what it happened on Monday which buoyed…

  • DE30: Stock investors abstain from riskier assets at the opening

    August 9, 2017

    Summary: European equity markets have begun the day with losses following mounting tensions between the US and North Korea Potential terror-related attack takes place in Paris Continental (CON.DE) rises following Deutsche Bank’s recommendation  Equity market investors seem to abstain from buying riskier assets following mounting tensions between the US and…

  • Economic calendar: Will RBNZ weaken the NZD?

    August 9, 2017

    Summary: RBNZ meeting is by far the most noteworthy event scheduled for today DoE’s report on a change in oil stocks could affect oil prices Housing data from the Canadian economy There is no doubt that the RBNZ’s meeting should be the most important event during today’s session even as…

  • Chinese inflation stabilizes, API reports massive draw

    August 9, 2017

    Summary: Chinese inflation metrics come in slightly below expectations API reports a massive draw in oil stocks Another slight jawboning targeted at AUD from the RBA While most of attention was turned to mounting tensions between the US and North Korea overnight, we got notable macroeconomic data from the Chinese…

  • CHF and JPY in demand as Trump threatens North Korea

    August 9, 2017

    Summary: US President Donald Trump threatens North Korea with ’fear and fury’ Japan’s economy minister voices his remarks regarding BoJ’s policy CHF and JPY are the strongest currencies among G10 peers A risk-off mode is particularly well seen across the FX market following US President Donal Trump’s speech which took…

  • Spanish stocks attempt to break higher

    August 8, 2017

    Summary: The SPA35 has risen to a 7 week high today The market recently broke out of a consolidation pattern to the upside Outlook looking more positive for bulls The leading Spanish stock market (SPA35 on xStation) has been one of the best performing in Europe so far in 2017…

  • Zuma faces vote of no confidence

    August 8, 2017

    Summary: South African President Zuma facing no-confidence vote Opposition needs 201 votes to oust the President Zuma has previously survived seven no-confidence votes (although none were held in secret Controversial South African President Jacob Zuma this afternoon faces a vote of no confidence in the country’s parliament. Zuma has a…

  • Where next for the Pound?

    August 8, 2017

    Summary: GBP has been falling since last week’s BoE meeting Rate hike expectations are once more disappearing into the distance GBPUSD is retesting the 1.30 handle Despite the shock election outcome and ongoing political uncertainty surrounding the terms of the UK’s separation from the European Union the pound had been…

  • Bitcoin keeps soaring. How long can it last?

    August 8, 2017

    Summary: Bitcoin (BTCUSD on xStation5) nears $3500 after a breakout of a critical resistance Coinbase to integrate Bitcoin Cash support by January 2018 Ethereum (ETHUSD) as well as Litecoin (LTCUSD) are in demand as well After Bitcoin price surged at the opening of trading on Monday easily breaking out of…

  • Economic calendar: Oil in the spotlight as API report looms

    August 8, 2017

    Summary: API report could be the most important reading scheduled for today Two noteworthy releases from the US economy Financial reports from Continental, Walt Disney Today’s economic calendar is relatively light in terms of macroeconomic readings, albeit there are three notable events worth looking at. Moreover, the earnings season on…

  • Mixed moods in Asia as the Chinese trade data disappoints

    August 8, 2017

    Summary: Asian bourses mixed on weaker trade data from China CHNComp remains in an upward trend though, looking forward to 11500 pts. Bitcoin continues a hunt for fresh all time highs Trade data from the Chinese economy for July is one of the most important reports this week. A recovery…

  • Bitcoin and US stocks hit all-time highs

    August 7, 2017

    Summary: Bitcoin has smashed through the 3000 level to hit a record high The US30 has also moved above its previous peak to extend its run of record making highs to 9 Oil prices decline as OPEC and non-OPEC meet in Abu Dhabi Latest positioning data could favour gains in…

  • Two contrarian trade ideas based on CFTC

    August 7, 2017

    Summary: CAD net longs increased the most since January 2013 USD net positioning has slipped into the negative territory for the first time since the greenback began its rally NZDJPY could constitute an interesting opportunity ahead of the RBNZ Along with a massive sell-off seen in the US dollar over…

  • Another day, another record for US stocks

    August 7, 2017

    Summary: The US30 has made another all-time high today 9th consecutive day of record highs Ended last week above 22k for the first time US stock markets have made further gains today, with the US30 posting a record high for the 9th day in a row. The market has now…

  • Further downside ahead for precious metals?

    August 7, 2017

    Summary: Gold and Silver both sold off on Friday following NFP Solid jobs data caused both metals to pull away from recent highs  Net long positioning in Gold surged by record amount last week Both Gold and Silver sold off last Friday after the release of an all round solid…

  • Bitcoin price soars 75% in just 3 weeks

    August 7, 2017

    Summary: Bitcoin (BTCUSD) soars 75% in 3 weeks to all-time highs Bitcoin block chain undisrupted by a fork Break of $3000 level clears the key technical barrier Bitcoin is on the mouth of nearly anyone on the market these days. With equity indices highs but stuck in tight ranges and…

  • Stocks’ appeal fades away as euro resumes rises

    August 7, 2017

    We had a successful start of the new trading week across the European equity markets which could have been the aftermath of the euro’s decline seen on Friday following better than expected figures from the US labor market. Nonetheless, as the euro appears to resume its uptrend, strength of stock…

  • DE30: Firmer beginning of trading in Europe

    August 7, 2017

    Summary: European stocks have started the day in upbeat spirits German DAX (DE30 on xStation5) is at the crossroads Deutsche Telekom gains on resumed merger talks The end of the past week could not have been better for bulls on the European equity markets. Another solid employment report coming from…

  • Green dominates in Asia, Bitcoin shines

    August 7, 2017

    Summary: JAP225, CHNComp, AUS200 all see gains in Asia Australian dollar outperforms on moods, PMI; New Zealand’s dollar declines on data Bitcoin (BTCUSD) price storms past a $3000 barier  After a rosy close to the Friday’s session when nearly all Europe surged above 1% and Wall Street managed to hang to…

  • Could that be a turning point for the greenback?

    August 4, 2017

    Summary: US dollar gains across the board on the NFP, tax promises Stocks end the week on the firm footing GBPUSD reverses, moves close to 1.30 Highlights of next week include RBNZ, US inflation  Friday was very positive for the US dollar. The US currency has been struggling for much…

  • 3 pairs to watch next week: USDIDX, GBPNZD, AUDJPY

    August 4, 2017

    USDIDX Even though this market isn’t technically an fx pair the US dollar index (USDIDX) is worth watching and currently sits at a very interesting level. The market has bounced after falling close to its lowest level since January 2015. The low of the week at 92.38 is now an…

  • Cohn comments add to NFP boost for USD

    August 4, 2017

    Summary: White House adviser Gary Cohn: "number one priority is taxes" Hopes to submit comprehensive tax bill in the fall USD has continued to rise since the strong NFP release Gary Cohn, chief economic adviser to the White House, has been speaking on Fox Business this afternoon with comments relating…

  • US stocks look to end week at record highs

    August 4, 2017

    Summary: US stocks begin final session of the week near all-time highs US30 continues to be the leader. Looking for 8th consecutive record close The market has now moved above the 22k handle It’s been another good week for US stock bulls as the recent rally has shown little sign…

  • Bitcoin continues rising while Bitcoin Cash tests its low

    August 4, 2017

    Summary: Bitcoin (BTCUSD on xStation5) keeps rising as its counterpart Bitcoin Cash (BCH) tests its post-implementation low Access to BCH deposits remains a chief concern for investors First Bitcoin ATM in Malta triggers a warning from the watchdog Since the introduction of Bitcoin Cash, the price has been outstandingly choppy…

  • US dollar in a slight retreat as jobs report imminent

    August 4, 2017

    Today it’s all about the US jobs report which could enhance the US dollar ultimately which has tended to weaken substantially over the course of recent months. Even as European investors have begun the day with moderate losses, they have managed to get back to gains, those are not impressive…

  • NFP preview: Will NFP buttress the greenback?

    August 4, 2017

    Summary: ISM employment metrics suggest softer NFP Wage growth most relevant for the USD ADP and NFP quite closely correlated of late USDJPY nears crucial support area The US employment report draws most of market attention each month. It will be similarly today where the official consensus indicates that employers…

  • DE30: Equity investors cautious as NFP looms

    August 4, 2017

    Summary: European equity markets have begun the day with moderate losses German DAX (DE30 on xStation5) remains on the verge of a bear market Infineon (IFX.DE) and Siemens (SIE.DE) among top movers in the morning The European stock markets have not had a successful week so far. The German DE30…

  • What to watch for today

    August 4, 2017

    The first Friday of each month is usually the NFP day. US labor data could be crucial for FED’s policy that seems to be the last chance that can help the dollar. Trump’s policy is in doubt so central bank’s decisions are crucial for the currency. That is why the…

  • AUD unimpressed despite slightly dovish RBA remarks

    August 4, 2017

    Summary: Australian retail sales come in above expectations RBA jawbones the Australian exchange-rate AUD the strongest currency in the morning The Asian session did not abound in many relevant macroeconomic releases except for one concerning the Australian dollar. Australian retail sales turned out to be better than expected showing an…

  • GBP plunges as BOE backs from hiking rates

    August 3, 2017

    Monetary policy decision from the Bank of England was the most awaited event that took place today. While interest rates weren’t changed, as expected, the outcome was more dovish which caused a sharp fall of the GBP. The Super Thursday did not disappoint in terms of delivering a big move…

  • Is the Trump trade dead?

    August 3, 2017

    Summary: The Mexican Peso has been one of the best performing currencies this year Fears surrounding the economy after Trump’s victory have so far been misplaced Bank of America believe the Peso is now overvalued  The victory of Donald Trump in last year’s US election was on of the greatest…

  • Disappointing ISM heaps misery on the downtrodden dollar

    August 3, 2017

    Summary: ISM non-manufacturing PMI for July falls further than expected to 53.9 Lowest print in almost a year flashes warning signal for services sector US dollar falls back near to multi-year low  The last significant US data release ahead of tomorrow’s NFP has disappointed the markets with the ISM non-manufacturing…

  • Silver reverses at key resistance?

    August 3, 2017

    Summary: Silver has printed 2 bearish reversal signal in the past 2 days These signals have come at a confluence of possible resistances Market could be highly sensitive to tomorrow’s NFP release  There has been a small rise seen in Silver today, but recent trade has seen some worrying developments…

  • Decline in jobless claims reaffirms strength of labour market 

    August 3, 2017

    Summary: US Initial jobless claims fell by 5k in the past week to 240k Reading near multi-decade lows showing strength of labour market USD remains subdued near key support The weekly initial jobless claims in the US have come in slightly better than expected with a print of 240k coming…

  • Czech National Bank hikes rates and weighs in on Bitcoin

    August 3, 2017

    Summary: Czech National Bank (CNB) hikes rates more than expected CNB suggests "don’t afraid of Bitcoin" Bitcoin Cash slumps more than 50% after making a peak The Czech National Bank decided to hike interest rates by 20bps at today’s meeting while just 10bps was expected. The EURCZK tumbled under 26…

  • BoE stays on hold as GBP plunges

    August 3, 2017

    Summary: Bank of England leaves rates unchanged as expected First rate hike not seen until Q3 2018 GBPUSD plunges following the statement Below we present the most important headlines coming from the BoE’s statement: votes 6-2 to maintain rates unchanged forecasts based on 2 rate hikes over 3 years, first…

  • Will BOE deliver its first rate hike?

    August 3, 2017

    We’re minutes from the Bank of England’s rate decision. The central bank is not expected to raise rates, but such scenario shouldn’t be ruled out. But let’s focus on what has happened since the start of the session, ahead of the long-awaited meeting. Asian session are very lively this week.…

  • UK services PMI comes in above forecast as BoE looms

    August 3, 2017

    Summary: UK services PMI comes in at 53.8 against the forecast at 53.6 GBPUSD rebounds on the better than expected PMI print Bank of England decision looms The UK’s services PMI for July came in at 53.8 while the estimate suggested a marginally lower reading at 53.6. The reading came…

  • DE30: Gloomy moods at the opening, BMW profit beats forecast

    August 3, 2017

    Summary: European stock markets have opened lower on Thursday German DAX (DE30 on xStaiton5) could continue sliding BMW (BMW.DE) and Siemens (SIE.DE) among top movers as earnings season is underway The European equity markets did not have a successful session yesterday as all ended the day lower. One of the…

  • Economic calendar: Judgment day for the pound

    August 3, 2017

    Summary: Final services PMI from European economies and the UK Bank of England meets to set monetary policy Czech National Bank is expected to rise rates US non-manufacturing ISM could steer expectations ahead of the NFP The Bank of England meeting should be in the limelight today even as the…

  • AUDUSD slides on weaker data from Asia

    August 3, 2017

    Summary: AUD the weakest G10 currency as trade balance disappoints Chinese PMI misses expectations AUDUSD moves lower, support at 0.7775 Asian session are very lively this week. Let us recall that we had the RBA decision on Tuesday, very weak employment data from New Zealand on Wednesday and there were…

  • Nordea: Where is the ECB’s pain threshold?

    August 2, 2017

    Summary: EURUSD looks overvalued against different rate spreads Subdued oil prices could make the ECB’s price target harder to achieve ECB’s patience to the euro rally could be coming to an end The euro has been enjoying excellent performance for recent weeks as the common currency has strengthened against the…

  • US dollar probing long term support

    August 2, 2017

    Summary: The US dollar index has come under pressure this afternoon Price retesting its lowest level since April last year The market hasn’t traded sub 92 since the start of 2015  The US dollar remains under pressure this afternoon with the US dollar index failing to build on Tuesday’s gains.…

  • DOE declines by less than expected; Oil falls lower

    August 2, 2017

    Summary: DOE inventories come in at -1.5M Headline print was higher than expected (-3.2M) and prior (-7.2M) However lower than API last night A decline of 1.5M barrels in the weekly DOE inventory release has not done enough to spark a recovery in the oil price following yesterday’s substantial declines.…

  • Apple to drive US100 to record highs?

    August 2, 2017

    Summary: Tech giant Apple has hit a record high after posting results last night 6% rise seen from last night’s closing level The US100 has been dragged higher by Apple’s rise. Can it too hit a new record peak? After the closing bell last night tech company Apple delivered a…

  • ADP hints at fairly neutral NFP on Friday 

    August 2, 2017

    Summary: US private payrolls showed 178k jobs added in July  Print was below the expected (187k) but prior reading revised higher to 191k (from 158k) Overall adds little weight to the case for a stronger or weaker NFP on Friday The ADP employment change is often seen as a precursor to…

  • Bitcoin Cash attains $7 billion capitalization after a few hours

    August 2, 2017

    Summary: Bitcoin Cash (BCC) gains as much as $7 billion market capitalization at the end of Tuesday Japanese exchanges gear up to credit customers with the BCC Bitcoin (BTCUSD on xStation5) hovers just above a support and remains little changed despite a fork There was a big day for all…

  • Big moves ahead for the GBPUSD?

    August 2, 2017

    Summary: Thursday and Friday could be crucial for GBPUSD currency pair Bank of England is expected to move closer to an interest rate hike The US NFP report a chance for the US dollar GBPUSD remains in an upward trend, eyes 1.34 GBPUSD has seen a consistent upward trend as…

  • DAX hovers around flatline amid stronger euro and earnings

    August 2, 2017

    Summary: DAX hovered around flatline on Wednesday mornings Banks’ were in the focus as earnings were published The index remains within a downward channel and eyes support at 12000 DAX hovered around flatline on Wednesday morning, as investors monitored mixed earnings reports and digested better-than-expected results from tech bellwether Apple. Surging euro has…

  • What to watch for today

    August 2, 2017

    The upcoming session will have a one key point worth looking at. The ADP report will be the most important hint ahead of the NFP report due Friday that could have an impact on financial markets. Aside of this print, it’s also worth looking at the report on oil inventories…

  • NZD suffers after awful data

    August 2, 2017

    Summary Data from New Zealand was a disappointment as employment, wages came out below estimates NZD is by far the weakest G10 currency today NZDUSD could reverse from the key zone The labour market data from New Zealand was by far the most important release during the Asian session and…

  • Fall in milk price weighs on NZD

    August 1, 2017

    Summary: The latest GDT auction has shown a 1.6% decline in the main index The New Zealand dollar is lower across the board today AUDNZD sits at a potentially key level  The latest results of the fortnightly Global Dairy Trade (GDT) auction have shown a 1.6% in the main index…

  • Gold makes a break higher after ISM release

    August 1, 2017

    Summary: Gold prices hit 6 week high following ISM release The US manufacturing index fell to 56.3 vs 57.8 prior Report not all bad for USD though with prices rising more than expected The ISM manufacturing index for July has come in marginally lower than forecast with a reading of…

  • US data fails to boost beleaguered dollar

    August 1, 2017

    Summary: June Core PCE +1.5% vs +1.5% prior (revised higher from +1.4%)  Personal spending figures robust but income equivalent unexpectedly drops US dollar remains languishing towards the bottom of its recent range; ISM at 3pm BST We earlier noted that the US dollar had fallen lower once more overnight to…

  • RBA didn’t surprise, USD awaits the ISM

    August 1, 2017

    The main event of Tuesday morning was RBA’s meeting that brought no changes to the Australian monetary policy. As for the other currencies, dollar pared part of its yesterday losses, but as we are awaiting ISM index due later today, more pain could be ahead.  As it was widely expected,…

  • British pound gains as PMI recovers

    August 1, 2017

    Summary: UK manufacturing PMI rises from 54.2 to 55.1 pts. GBPUSD rises above 1.32 as investors brace for the Bank of England meeting The UK economy seems to remain in a decent shape despite all the political uncertainty that has been related to legislative elections and incoming Brexit negotiations. While…

  • Dollar gets a hit, AUD awaits RBA

    July 31, 2017

    Trading week started on a calmer footing as most currencies were barely changed. However, the situation changed afternoon as the EURUSD surged towards 1.18, the highest level since the ECB started its QE.  Two pieces of economic data from the US have given opposing signals as to the strength of…

  • What to expect from the RBA?

    July 31, 2017

    Summary: The RBA meeting will be the most important event of upcoming hours No changes in monetary policy are expected The currency could give up part of its losses if the RBA includes its rise in the statement The Australian central bank meets overnight and while no changes in monetary…

  • US stocks open higher but Snap falls

    July 31, 2017

    Summary: US stock markets have opened slightly higher this afternoon 3 major indices all remain close to record highs  SNAP shares continue decline as lockup period ends With last week seeing several major stock European stock markets fall back to trade at levels not seen since before the 1st round…

  • As analysts turn more bearish, where next for Oil?

    July 31, 2017

    Summary: Latest Reuters poll of analysts sees 6th consecutive month of cut forecasts Last week Oil.WTI closed at highest level since the end of May Long term trend indicators turning more positive It’s been a relatively quiet start to the week for the crude price with Oil.WTI trading marginally lower…

  • CFTC report: CAD and soybean most interesting markets

    July 31, 2017

    Summary: Net longs on the CAD close to their recent years’ peaks Net long positioning on the AUD almost the highest for years Soybean could have the largest space to build fresh longs among its peers The latest CFTC report was revealed as usual on Friday and gave CAD traders…

  • Will Bitcoin follow the Internet’s path?

    July 31, 2017

    Summary: Billionaire Howard Marks warns investors against digital currencies Bitcoin has been compared to the Internet in 1995 Litecoin has already approached a crucial support Billionaire investor Howard Marks, the founder of asset management company Oaktree Capital, firmly warned his clients against investing in high-flying cryptocurrencies, suggesting they are not…

  • Eurozone’s inflation gathers momentum as jobless rate declines

    July 31, 2017

    Summary: Eurozone core inflation came in at 1.2% in July and beat a forecast Unemployment rate lowered from 9.3% to 9.1%, more than expected Euro rises on the data, moves are limited though The inflation reading from Eurozone turned out to be in line with an estimation at 1.3% while…

  • DE30: Tepid beginning of European trading

    July 31, 2017

    Summary: European equity markets get underway slightly higher DAX (DE30 on xStation5) could be prone to an increase Infineon (IFX.DE) and EON (EOAN.DE) are among top movers within the DE30 The European stock markets have started the day slightly higher in anticipation of flash inflation from the Eurozone. The prior…

  • 3 pairs to watch next week: USDCAD, EURCHF, BTCUSD

    July 28, 2017

    USDCAD  A resurgence in the oil price has boosted the Canadian dollar in the past week with USDCAD trading down to its lowest level in more than two years. The market has now declined just shy of 10% since May and by several metrics is looking oversold. This isn’t to…

  • Uni Mich beats but USD remains under pressure

    July 28, 2017

    Summary: University of Michigan consumer sentiment rises to 93.4 Inflation expectations drift slightly lower to 2.6% US dollar remains lower on the week The last scheduled economic release of the week has seen a small rise in the University of Michigan consumer sentiment index to 93.4 from 93.1 previously (revised…

  • Canadian GDP smashes forecasts; USDCAD < 1.25

    July 28, 2017

    Summary: Canadian GDP grew much faster than expected in the past month USDCAD has fallen back under the 1.25 handle and not far form key support at 1.2415 Despite strong economic performance however, inflation remains subdued A 0.6% increase month-on-month for Canadian GDP marks the joint-fastest pace of growth seen…

  • European markets lower, SEK brightest spot in G10

    July 28, 2017

    European markets are remaining under pressure as most bourses are trading in the negative territory following the weaker Asian session. In the currency sector, Swiss franc is continuing its downfall losing 0.56 percent. Swedish krona is adding the most in the G10 basket, inching 0.92 percent on Q2 GDP growth…

  • German inflation beats forecast. What does it mean for ECB?

    July 28, 2017

    Summary: German inflation report was moved forward by 2 hours Both CPI and HICP beat forecast in July (preliminary reading) Euro stays little changed in the aftermath Some could have been taken by surprise when the German inflation report was released at 11:00 am BST. It had been moved forward…

  • DE30: Selling spree continues

    July 28, 2017

    Summary: European markets have opened lower on Friday with CAC40 leading the losses Technical outlook for DE30 is not appealing Adidas AG adds as much as 8 percent on the boosted full year outlook and higher margins Investors in Europe have started the day with murky moods following a retreat…

  • Economic calendar: US GDP and much more ahead on Friday

    July 28, 2017

    Summary: US GDP for Q2 is the most important reading for today CAD could be prone to a corrective move as GDP from Canada to come in as well German inflation might steer the euro exchange-rate Today’s calendar is packed with numerous readings of GDP. The first one from France…

  • Swiss franc dives overnight, JPY slightly higher on data and Cabinet reshuffle

    July 28, 2017

    Summary: EURCHF popped on Japanese banks’ purchases Japanese inflation remains mediocre, other data better Japan’s defence minister steps down There was a bunch of macroeconomic data from the Japanese economy overnight. Nevertheless, before we move to analyze it, let’s have a look what happened with the EURCHF during the Asian…

  • Earnings season in a full swing, CHF on a sell spree

    July 27, 2017

    Lousy session in Europe weighed on Wall Street as NASDAQ losses 1.01 percent and other indices stays below a flat line. Earnings season is now in full swing in the US and tonight will see if Amazon can follow in the footsteps of tech giants Alphabet (parent company of Google) and Facebook…

  • Two charts to follow as the USDCAD hits major level

    July 27, 2017

    Summary: USDCAD is attempting to recover today after a prolonged downtrend Oil.WTI rallied on Wednesday following the drawdown in DOE inventory Market is now testing the $49 handle after touching highest level since May The recovery in the oil price has boosted the Canadian dollar in recent weeks with the…

  • Amazon hits all-time high ahead of earnings update

    July 27, 2017

    Summary: Amazon stock rises to all-time high Tech company set to release latest earnings results after the closing bell Rise in the stock price means founder Bezos now richest man in the world Earnings season is now in full swing in the US and tonight will see if Amazon can…

  • Gold hits 6 week high after US data

    July 27, 2017

    Summary: Mixed batch of US data sees Gold add to recent gains Durable goods orders improve but core reading disappoints Weekly initial jobless claims tick higher to 244k Today’s dose of data from the US has failed to deliver a clear picture on the health of the US economy. The…

  • European markets subdued so far, CHF loosing its ground

    July 27, 2017

    Today’s session remains subdued so for as markets in Europe trade mixed after FOMC decision on the Wednesday evening. The US dollar still licks its wounds as the currency has hit its lowest level in more than 2 years on dovish message from the Federal Reserve. While the Fed said it expected…

  • Swedish government reshuffled, SEK could come under pressure

    July 27, 2017

    Summary: Political chaos in Sweden gathers momentum PM Stefan Lofven reshuffles his government SEK might come under pressure in the aftermath Sweden, being the largest Scandinavian economy, was hit by a political crisis which threatened to topple the Social Democrat-led government. However, a political tailspin seems to be coming to…

  • What to watch for today

    July 27, 2017

    Summary: Trader’s will focus on the data from the United States As for the Europe, calendar remains bleak More important data will come overnight and tomorrow’s morning The US dollar still licks its wounds after the FOMC’s meeting. The currency has hit its lowest level in more than 2 years…

  • Dollar extends losses post FOMC statement

    July 27, 2017

    Summary: FOMC left rates unchanged, but moved the dollar The currency extended losses to its major peers Many currency crosses hit mulit-year highs after the decision and more gains could come Analysis: The dollar extended its decline as traders in Asia joined the selloff after the U.S. Federal Reserve indicated…

  • 12 banks views on the FOMC

    July 26, 2017

    As we approach the Fed rate decision at 7pm (BST) this evening, here are the previews of what to expect from 12 major banks: Goldman Sachs We expect the July FOMC statement to hint at an announcement of balance sheet normalization in September.  Following the announcement of scheduled caps on…

  • Oil jumps to highest level since May on DOE drawdown

    July 26, 2017

    Summary: Larger than expected drawdown in DOE inventories (-7.2M vs -3.3M exp) Oil benchmarks have rallied to their highest level since the end of May Oil.WTI now not far from the big psychological level of $50 a barrel The weekly DOE crude oil inventory release has shown a larger drop…

  • DE30: Positive open in early trading

    July 26, 2017

    Summary: European bourses continue its upward momentum DE30 bounces off a support zone Volkswagen AG among the top performers today The European equity markets have kicked off the day with gains that have their roots in yesterday’s rise on Wall Street. Markets in Europe are trading higher on Wednesday morning as investors…

  • Economic calendar: Busy day with FOMC being a cherry on top

    July 26, 2017

    Summary: FOMC decision could be seen as the most crucial event for today Oil prices could be more volatile due to the DoE’s release UK’s GDP might draw attention in morning trading Today it’s not all about the FOMC decision as it usually tends to be. It stems from the…

  • API reports gargantuan decline in oil stocks

    July 26, 2017

    Summary: API reported a tremendous decline in stocks by more than 10mb WTI surges above $48, Brent exceeds $50 a barrel for the first time since early June The American Petroleum Institute (API) reported a gargantuan draw in oil stocks by 10.23mb compared with a forecast being just below 3mb.…

  • AUD slides on lackluster headline inflation and RBA’s Lowe remarks

    July 26, 2017

    Summary: Australia headline CPI came in much below estimations Trimmed mean (the RBA’s preferred core gauge) was in line with forecast AUD weakens on the data and Lowe’s remarks The long-awaited inflation report for Q2 from the Australian economy was revealed overnight. It was not reassuring though as headline CPI…

  • Oil rallies as global growth outlook improves

    July 25, 2017

    European stock markets gained a second session in a row as the outlook for economic growth appear to be getting brighter. It was confirmed today by the IFO release which proved to be higher than expected. What’s more, European (and US as well) stocks could have benefited from a rally…

  • Kiwi drops as disease strikes cattle 

    July 25, 2017

    Summary: An outbreak of disease amongst cows in New Zealand threatens to disrupt the dairy trade The New Zealand dollar is under pressure as milk is the country’s biggest export Disease contained for now but an outbreak could see sharp declines The New Zealand dollar is falling against most of…

  • Politics could drive flows during US session

    July 25, 2017

    Summary: Light US session in terms of economic data with CB consumer confidence the only scheduled release of note  However, this does not mean the markets will necessarily be quiet as two political developments could cause moves Senators are poised to vote today on health care and sanctions on Russia…

  • Key hurdles for Bitcoin to become established world currency

    July 25, 2017

    Summary: Bitcoin’s options are to be available this autumn BofA indicates a major hurdle for Bitcoin (BTCUSD on xStation5) to become an established world currency BTC could get back towards a more important support placed at around $2390 We could already say that derivatives related to Bitcoin will likely be…

  • German IFO confirms firm outlook for Eurozone

    July 25, 2017

    We got slightly softer PMIs yesterday from the Eurozone economy, however despite weaker prints we are still at high levels which could foretell well for the nearest future of the EMU. There is no doubt that the German economy is becoming the brightest spot of the whole Eurozone which has…

  • FED’s meeting – preview

    July 25, 2017

    Summary: The Federal Reserve meets on Wednesday - no changes in policy are expected The FED is stuck between weak inflation and solid employment growth The dollar could add to losses after the statement is published Analysis: On Monday, EURUSD hit its highest level in 2 years. It was not…

  • DAX rises in the morning trade

    July 25, 2017

    Summary: European markets trade higher despite weaker Asian session The DE30 could bounce from current levels Henkel AG and Infineon were in the spotlight The European equity markets have kicked off the day with gains that have their roots in yesterday’s rise on the energy markets. Despite undoubtedly weaker Asian…

  • What to watch for today

    July 25, 2017

    Summary: Data from Germany will be the most important event of the morning UK industrial trends will be a hint ahead of the industrial production Australian CPI is published overnight and will the most important print of the upcoming 24 hours Tuesday began in a sleepy atmosphere, but more volatility…

  • Walll street falls amid tech earnings

    July 25, 2017

    Summary: US equities closed lower on Monday  Alphabet posted its results after the closing bell Upcoming week will be crucial for the current earnings season US equities closed mostly lower Monday as Wall Street geared up for a major week of earnings and Federal Reserve news. The Dow Jones industrial…

  • Rising oil prices helped stocks to get back gains

    July 24, 2017

    A beginning of the new trading week was quite benign. There were no many relevant macroeconomic releases, hence volatility on the FX market was muffled. Unlike currencies, the European stocks drew most of attention as they were sold-off during today’s session, however they managed to get back their mojo ahead…

  • AUDJPY could slow down its upward momentum on CFTC positioning

    July 24, 2017

    Summary: The JPY net short positioning increased 15k being the largest since January 2014 Net longs on the AUD surged 14k on mounting expectations in terms of a possible rate hike Wheat’s positioning little changed despite a decline in prices As we’re beginning a new trading week it’s worth taking…

  • US PMIs improve but home sales miss; USD mixed

    July 24, 2017

    Summary: Mixed US data as PMIs improve but housing data misses forecasts Flash manufacturing PMI rises to 53.2 vs 52.3 exp and 52.0 prior Housing starts fall to 5.52M - lowest level since March  The latest data on the US economy has shown a better than expected level of confidence…

  • Gold rises to 1-month high

    July 24, 2017

    Summary: Gold has risen to its highest level since June The market is now at a similar level to where it was at the last Fed meeting Fed set to announce latest policy mix this Wednesday at 7PM (BST)  Gold prices have been on the rise in recent weeks after…

  • Oil under OPEC’s pressure

    July 24, 2017

    Summary: Oil prices under pressure stemming from a possible increase in OPEC’s supply WTI prices are rebounding slightly from an important support US oil stocks have already achieved their the 5Y range Oil prices have been under pressure of late mainly on the back of uncertainty related to OPEC’s supply.…

  • Stocks decline as EMU’s recovery called into question

    July 24, 2017

    The European equity markets are declining in a first trading day this week mainly on the back of fairly lackluster readings of PMIs from European economies. On the other hand, the euro has stalled slightly at the beginning of trading after a splendid last week. Asia markets traded mixed on…

  • DAX falls as autostocks plummet

    July 24, 2017

    Summary: Auto stocks slumped amid allegations of collusion European indices were lower as the scandal weigh Macroeconomic data failed to support stocks German stocks were lower on Monday as auto stocks slumped amid allegations of collusion. The Auto sector was under pressure after reports that the European Commission is investigating collusion…

  • European PMI falls, euro slightly down

    July 24, 2017

    Summary: European PMI slipped to the lowest level in 6 months While manufacturing remains in a good condition, services sector cooled down However, the data shouldn’t change the ECB’s view on the economy Growth in the euro-region economy started the third quarter at the weakest pace in six months as manufacturing cooled.…

  • Dollar falls in the morning, Chinese stocks rally

    July 24, 2017

    Summary: Asian markets traded mixed on Monday, with Chinese stocks outperforming others in the region The Australian dollar was the strongest currency on the fx market Dollar lost on political woes, positioning ahead of the FED’s meeting Asia markets traded mixed on Monday, with traders focused on the wobbling dollar…

  • 3 pairs to watch next week: EURUSD, CADJPY, EURGBP

    July 21, 2017

    Below are three pairs that could be particularly interesting to keep an eye on next week: EURUSD The most widely traded FX pair has had a potentially major breakout this week and the range from around 1.0400-1.1500 that has largely contained price since the beginning of 2015 could now be…

  • CAD rises despite mixed data

    July 21, 2017

    Summary: Signs of deflation in Canada last month for the first time this year Core retail sales also fall back into negative territory  Immediate reaction in CAD positive however, perhaps due to low expectations The last scheduled major economic release of the week has seen a fall in both inflation and…

  • Successful beginning of earnings season on Wall Street

    July 21, 2017

    Summary: Earnings season on Wall Street has started successfully SP500 (US500 on xStation5) could go towards 2500 points after a defense of 2400 points Alphabet (GOOGL.US), General Motors (GM.US) and Exxon Mobil (XOM.US) are scheduled to post their earnings next week A second week of the earnings season on Wall…

  • Australian currency gives up its gains, EUR rally continues

    July 21, 2017

    The main story of Friday morning is a weakening of AUD and a slight rise of the euro. Both currencies gained a lot recently, especially the Australian dollar. But today a correction occurs, which could be an interesting opportunity to join the upward trend. Speaking on the upward moves, its…

  • DE30: European stocks’ decline continues

    July 21, 2017

    Summary: European stocks start lower as EUR keeps on rising DAX (DE30 on xStation5) failed to break a crucial resistance Commerzbank (CBK.DE) is the largest drag on the index The European equity markets have kicked off the day with losses which began yesterday after the ECB’s press conference along with an…

  • AUD tumbles after RBA’s Debelle speech

    July 21, 2017

    Summary: AUD plummets after RBA’s Debelle speech NZD outperforms its peers after comments from finance minister AUDNZD tumbles toward a relevant support The Antipodean currencies are among top movers in G10 after speeches of RBA’s Debelle as well as NZ’s finance minister Steven Joyce. Let’s begin with the former. RBA’s…

  • Greenback fails to take triple whammy on the chin

    July 20, 2017

    Thursday could have been possibly the most interesting day in financial markets this week. We got a bunch of macroeconomic releases which impacted many assets, here and there quite severely. However, the US dollar was not able to get back at least some of its recent losses, what’s more it…

  • Draghi’s press conference

    July 20, 2017

    The ECB left interest rates unchanged as it was broadly expected, main focus is on the press conference though. Below we present the most notable remarks from governor Draghi. QE in a very substantial degree of accommodation is needed rising employment bolsters private consumption favorable financing conditions help investment euro-area…

  • DAX rises ahead of the ECB

    July 20, 2017

    Summary: German DAX rose ahead of the ECB meeting as euro fell The outcome of today’s meeting could be crucial for European indices The upward move is also supported by the record close on Wall Street The EURUSD was steady at 1.1505 on Thursday morning, ahead of the ECB meeting…

  • GBPUSD jumps on retail sales beat

    July 20, 2017

    Summary: Retail sales was much better than expected The data will be welcomed by the central bank As a result, the GBPUSD jumps to 1.30, reversing its earlier losses The Office for National Statistics published the UK’s retail trade report for the month of June, which showed that the UK consumer spending…

  • JPY weakens a bit as BOJ stands pat

    July 20, 2017

    Summary: Bank of Japan concluded its monetary policy meeting Rates and policy remain unchanged, which is in line with what was expected BOJ upgraded its growth projections while lowering inflation forecast The Bank of Japan held monetary policy steady at the conclusion of its July monetary policy meeting, an outcome…

  • Oil makes slow start to the week

    July 17, 2017

    Summary: Oil.WTI is trading slightly lower today after a quiet European session The market is attempting to recoup some of the losses seen following the OPEC decision to extend output cuts A bullish cross has been printed on the 8 and 21 EMAs on D1 The price of Oil has…

  • AUDUSD probing key resistance

    July 17, 2017

    Summary: AUDUSD testing lat year’s high of 0.7835 Last week’s closing level was the highest in over two years Today’s data has added further weight to the fundamental reasons to be long this market The AUDUSD is rising once more today after last week saw a strong gain in the…

  • Chinese data beat forecasts, AUD remains unfazed

    July 17, 2017

    Summary: Chinese GDP beat a forecast in Q1 Retail sales and industrial output came in above expectations AUD remains little changed after a stellar week The main event during the Asian session was a release of Chinese GDP for Q1 which proved to beat a forecast in a yearly basis.…

  • Greenback decimated as AUD buying spree keeps on

    July 14, 2017

    This week was one of the best for the Australian dollar over the course of the past months as it was by far the best performing currency in G10 space. There were two important factors standing behind this scenario. Firstly, the remarkably weak performance of the US dollar which was…

  • Oil market rebalancing called into question. What next for oil prices?

    July 14, 2017

    Summary: Oil rigs count rose to 765 from 763 All three key institutions related to the oil market doubt the market rebalancing in 2018 OPEC’s compliance faded to some extent last month We got three noteworthy fundamental reports for oil prices this week. All of them cast a shadow on…

  • Is Litecoin going to be the brightest star among cryptocurrencies?

    July 14, 2017

    Summary: Morgan Stanley doubts Bitcoin’s (BTCUSD on xStation5) appeal Litecoin (LTCUSD) could be the best performing among remaining cryptocurrencies South Korea is already poised to legalize BTC international transfers The global cryptocurrencies market has decreased of late, however it appears that Litecoin could be the most valuable digital currency, at…

  • DE30: European bourses slightly lower at the opening

    July 14, 2017

    Summary: European stocks have begun the day inching lower Investors await data from the US: CPI inflation and retail sales Daimler AG is the worst performing stock as emissions scandal emerges European equity markets have started the day with modest losses as investors await a package of the data from…

  • Risk-on widens as SEK remains in the spotlight

    July 13, 2017

    Summary: Risk-on mode broadens as AUD and NZD are among the best performers in G10 SEK remains in the limelight following the excellent inflation report Busy afternoon for USD traders as Yellen to testify once again European equity markets are thriving while risk-on mode is getting more visible across the…

  • Economic calendar: Yellen to testify once again

    July 13, 2017

    Summary: Yellen to testify before the Senate Banking Committee US PPI could be a prelude ahead of the key data tomorrow FED’s Brainard is scheduled to take the floor in the evening Wednesday was likely to be the busiest day regarding numerous macroeconomic releases with the BoC’s decision being the…

  • Solid data from China help markets in Asia

    July 13, 2017

    Summary: strong data from China supports optimism Chinese shares lead the rally in Asia AUD is the strongest G10 currency in Asia Moods have been great during the Asian session as the Chinese Hang Seng CE (CHNComp on xStation platform) surged by nearly 1.6% and other Asian indices rallied as…

  • Hawks fly to Canada

    July 12, 2017

    Wednesday was a day of two events: FOMC president Janet Yellen presented her semi-annual testimony to the US Congress and the Bank of Canada decided on interest rates. As one could expect it had a major impact on USDCAD. A testimony from Janet Yellen was highly anticipated as investors hoped…

  • Main points from J.Yellen testimony

    July 12, 2017

    Janet Yellen is about to deliver her semi-annual testimony to the Congress. While this will take place at 3pm BST, we already know her introductory statement. Here are the main points and the analysis will follow: rates will not have to rise much to be at neutral level (sounds like…

  • Stocks retain their gains as key events imminent

    July 12, 2017

    Summary: Equity markets retain their morning gains GBP raises on the upbeat jobs report Markets await key events scheduled for today The US dollar made up for some its losses which have been seen earlier, however there are no noticeable changes within G10. Two key events for today (the Yellen’s…

  • Economic calendar: Prepare for rumbles on USDCAD

    July 12, 2017

    Summary: FED’s Yellen is scheduled to testify to the Congress BoC’s is expected to deliver an interest rate hike UK’s jobs market should draw attention in early trading There is no doubt that today’s macroeconomic calendar is full of many crucial events making Wednesday likely the most interesting day for…

  • Prepare for Super Wednesday

    July 11, 2017

    Summary: Bank of Canada is expected to increase interest rates, decision will be released at 3pm BST on Wednesday Janet Yellen will deliver her testimony to the Congress on Wednesday (3pm BST) Markets like USDCAD and USDJPY could be heavily influenced  It could be a summertime but this Wednesday is…

  • Goldman suggests to cool down expectations on BoC

    July 11, 2017

    Summary: BoC’s meeting takes place as soon as tomorrow Goldman Sachs doubts a rate increase USDCAD could move higher if it breaks a short-term resistance The Bank of Canada is widely expected to deliver a rate hike at its meeting on Wednesday (3:00 pm BST). The likelihood of that move…

  • DE30: A firmer opening across European equity markets

    July 11, 2017

    Summary: European indices gain noticeably at the opening DAX (DE on xStation5) is stuck just before a crucial resistance Thessenkrupp (TKA.DE) rises more than 3% being the best performer stock Asian equity markets ended the day with upbeat spirits in general. There was a light macroeconomic data, however those which…

  • NZD slides overnight on weak retail sales, Williams upbeat on jobs report

    July 11, 2017

    Summary: NZD has been the worst performing in G10 so far AUD got upbeat soft data from NAB Williams confirms a recent strong NFP report The New Zealand dollar is the worst performing currency following feeble data on retail credit card spending. A monthly basis showed 0% m/m and 0.8%m/m…

  • Grains back in focus

    July 10, 2017

    We’re a few minutes after the report on grains inspection was published. The data could be used a good predictor of trends in exports. Trade reports are important especially for non-investment commodities as they show if there’s an oversupply on the market. Today’s prints shouldn’t have a significant impact on…

  • Bitcoin muted while CFTC approves BTC options trading

    July 10, 2017

    Summary: US CFTC approves Bitcoin (BTCUSD on xStation5) options trading Russia could follow Japan in terms of Bitcoin legalization Dash (DSHUSD) could keep on rising after a rebound from a trend line Bitcoin prices start the week on a decline even as we could spot some positive news. The CFTC…

  • DE30:  stocks gain a foothold as  new week kicks off

    July 10, 2017

    Summary: European stocks are trading higher in early  trading DAX (DE30 on xStation5)  jumps higher but upward potential could be limited E.ON raises the most among German DAX Investors have begun a first trading day of the week in  decent moods. Moreover, a positive session in Asia could have helped…

  • Dollars gain as commodity prices tumble on Friday

    July 7, 2017

    Summary: CADJPY is a big mover among major currencies, rising 1.5% Commodities suffer with silver down 3.5% and oil pulling back 2.4% Much-awaited NFP was mixed with solid employment gain and moderate wage growth All 4 dollars in the G10 basket of major currencies were among the top5 performers, ranking…

  • Economic calendar: Is NFP the last resort for the USD?

    July 7, 2017

    Summary: US economy is expected to add 179k new jobs USDCAD could be in the spotlight as the jobs report from Canada will be revealed as well There is no doubt that the most important release scheduled for today is the jobs report from the US economy. Admittedly, the yesterday’s…

  • Oil gains as DoE shows deeper draw in stocks

    July 6, 2017

    Summary: US oil stocks decline more than expected US oil output rebounds after an unexpected decrease in the prior week Oil prices could continue rising towards $48 Oil prices are gaining momentum in the aftermath of the DoE report which showed that stocks declined 6.299mb which is much more than expected as…

  • ADP falls short of estimation and points to mediocre NFP

    July 6, 2017

    Summary: ADP falls short of an estimation in May US trade balance meets expectations USD remains muffled following the data There is not time to take a breath today as a slew of macroeconomic releases floods us. After the ECB minutes which have been treated quite bullish looking at the EURUSD…

  • EUR nudges up as ECB minutes remain murky

    July 6, 2017

    Summary: Minutes ECB without a breakthrough EUR holds onto a crucial technical level The minutes from the ECB’s June meeting were highly anticipated by all who are interested in the future of the monetary policy and thereby the euro as well. However, there were no concrete remarks which could herald a…

  • Asia in red but oil recovers on inventory draw

    July 6, 2017

    Summary: oil prices recover slightly after the API report Asian equities are moderately in the red AUD ignores better than expected trade report for May Asian session has been mostly negative for equities so far with equities in both Japan (JAP225) and China (CHNComp) down by 0.4-0.5%. On the currency…

  • Stock of the week – Micron Technology

    July 5, 2017

    Micron Technology is one of the largest producer of semiconductors, flash memories and hard disks as well. The company has rolled out some new technologies of late which has affected favorably an improvement in the firm’s earnings thereby pushing the stock towards the highest level for three years. Since then,…

  • Markets subdued ahead of FOMC minutes

    July 5, 2017

    There have been no larger moves in the FX market or elsewhere thus far possibly due to some uncertainty regarding today’s main event which is a release of the FOMC’s minutes.  The Australian dollar has been among the best performing currencies after the Asian for all a mediocre reading of Chinese services PMI.…

  • European investors undecided with Wall Street being off

    July 5, 2017

    Summary: European indices begin trading with cautiousness  Wall Street gets back to trading after Independence Day BMW experiences the deepest decrease in German registered cars in June compared with its peers The European bourses have kicked off the day with some cautiousness receiving no support from the Wall Street where there…

  • RBA and Riksbank disappoints, CAD moves higher

    July 4, 2017

    Today’s session on European bourses, due to the Independence Day in the United States, ran in a very calm mood. The day began with the series of disappointments on the part of central banks. At first the Reserve Bank of Australia ket interest rates unchanged and issued a surprisingly dovish…

  • CAD soars following sturdy PMI release

    July 4, 2017

    Summary: CAD surges despite a weaker than previously manufacturing PMI CAD could strengthen against the greenback given a technical analysis The USDCAD has resumed its downtrend despite a few adverse factors which seem to be played down. First and foremost, oil prices are hovering around the break-even on a daily…

  • Investors abstain from riskier assets

    July 4, 2017

    After a first trading day in a new month investors have been spooked by another North Korea’s ballistic missile launch which has come days before leaders from the G20 nations are due to discuss steps to rein in Pyongyang’s weapons programs. In the aftermath of it, the JPY has gained momentum while…

  • Risky assets get back their mojo as Q3 unfolds

    July 3, 2017

    The first day of a new quarter couldn’t have kicked off better. Stock markets brightened with green across the world as a new month seems to give more resolve for investors despite a recent slew of hawkishness expressed by major central banks. As a result, the Japanese yen was among the worst…

  • June PMIs fail to back European currencies

    July 3, 2017

    The final EMU manufacturing PMI was slightly stronger than expected but overall the data released in Europe today are somewhat on the low side as the bar has been set high. European currencies are losing ground as a consequence with the British pound now the weakest G10 currency.  While the…

  • Economic calendar: brace for a hot July week

    July 3, 2017

    The second quarter couldn’t have ended better for pound and euro bulls. The ECB’s conference in Portugal brought a hawkish shift in the global central banking, which led to a surge in the euro and sterling. Both Draghi and Carney struck an upbeat tone in their speeches, and BOE’s governor…

  • Dollar gains on mildly positive data

    June 30, 2017

    Summary: FED’s prefered gauge of inflation was lower in May, but in line with market’s expectations Meanwhile, personal income and personal spending turned out to be better than expected After all the data should have a limited impact on the greenback as the next week will be crucial for dollar’s…

  • USDCAD declines after Canadian GDP report

    June 30, 2017

    Summary: Canadian GDP was more or less in line with estimations  USDCAD could be prone to a corrective move to the upside The Canadian economy grew 0.2% mom and 3.3% yoy in April while expectations had pointed to increases by 0.2% mom and 3.4% yoy. Looking at the USDCAD one…

  • European indices kick off flat

    June 30, 2017

    Summary: European bourses begin flat the last session this week DAX could be prone to a rebound in the nearest future Bayer plunges following FY forecasts being revised down The European indices have begun the last session this week in undecided moods following a gloomy performance seen both in the…

  • German inflation reassures euro traders

    June 29, 2017

    It was clear, in order to maintain bullish trend on the euro we had to get better inflation from Germany given this area seems to be the weakest point in the euro zone. It actually happened, German inflation came in above estimations both in annual and monthly basis.  CPI amounted…

  • Stocks erase their gains, GBP and EUR on the rise

    June 29, 2017

    Bullish sentiment which could have been seen at the European opening has evaporated to some extent. Even as the outlook for the global economy seems to be improving, stock investors might take time to change make up their minds what a tighter policy could really mean for their investment portfolios.…

  • European stocks gather momentum at the opening

    June 29, 2017

    Summary: European stocks benefit from bullish comments from central banks German banks are the top beneficiaries of hawkishness DAX (DE30 on xStation5) could rebound after closing a bullish gap Evens as global central banks are beginning to talk about possible rate hikes which might be necessary before long, global stocks have…

  • Central banks roil currencies

    June 28, 2017

    There is no doubt that central banks drew all markets’ attention today with the euro and the British pound being the most volatile currencies. Firstly, some rumors said that ECB suggested financial markets misinterpreted comments from Mario Draghi on the rise of inflation caused an immediate decline in the euro which was…

  • Oil keeps rising after the DOE report

    June 28, 2017

    Summary:  DOE shows a modest inventory build, but the report still looks oil positive Oil could be in an upward trend now The DOE report showed a build in oil inventories but it was a very tiny and while original expectations saw a draw, markets were prepared for even a…

  • Wall Street ends its winning streak, Nasdaq weighs

    June 28, 2017

    U.S. equities closed lower on Tuesday as large-cap technology stocks fell more than 1 percent, while a Senate vote delay raised heighten policy uncertainty. The Dow Jones industrial average pulled back about 100 points, with 3M and Apple leading decliners. The 30-stock index fell after multiple reports said the Senate…

  • German CPI in the spotlight. What next for EURUSD?

    June 27, 2017

    Summary: German IFO suggests higher economic growth  Interest rate market can be no longer a driver for EURUSD EURUSD could continue its bullish trend Sentiment among German businesses is pretty rosy as it was proved by yesterday’s IFO release. Those upbeat moods can be seen in remarks delivered by the…

  • Central bankers draw markets’ attention

    June 27, 2017

    There is no doubt that central bankers draw the most attention this week on the back of the ECB’s forum in Sintra, Portugal, where the most influential heads of global central banks take part. One of the first speeches belonged to Draghi as he said that euro zone growth was above…

  • BoE notices financial stability risks from Brexit

    June 27, 2017

    Summary: BoE raises banks’ countercyclical buffer It puts emphasis on undue indebtedness  GBPUSD could continue increasing if bulls break a local resistance  The Bank of England Financial Stability Report and Carney’s speech afterwards were among the most noteworthy events scheduled on Tuesday. After the remarkably hawkish meeting of the BoE which took…

  • Economic calendar: Has US consumer confidence peaked?

    June 27, 2017

    Summary:  US data on consumer confidence could be decisive for US dollar Watch for any remarks from Draghi and Poloz at 2:30pm BST that could have an impact on EURCAD This week is not enormously heavily packed with the macroeconomic reports but we are having few pieces from the US.…

  • Gold crashes, Italy gets its long awaited deal

    June 26, 2017

    The main story of the first day of June’s last week was a flash-crash that occured on metals early in the morning. Both gold and silver fell sharply in a few seconds, but the reason of such move is yet to be known.  The most likely factor standing behind such…

  • Volume soared when gold saw flash crash. What does it mean?

    June 26, 2017

    Amid quiet beginning of a trading week we’ve experienced an outstanding move in gold prices in early European trading. There was a $17 plunge just in a few seconds without any specific news behind such wild volatility. Since then, gold prices have tested once again daily lows and rebounded significantly…

  • UBS on outlook for iron ore and AUD

    June 26, 2017

    Summary: UBS doesn’t see a negative impact on the AUD from iron ore at this stage Bank’s view could change if prices of commodity deepen their declines Technical analysis seems to offer further space for bulls There is no doubt that the main driver of the rally seen in the…

  • Will EURSEK be prone to decline?

    June 26, 2017

    Summary: Swedish core inflation exceeds levels of its peers Bond market points to a lower level of the EURSEK Riskbank could adjust its forward guidance as soon as next month The next Riksbank meeting will take place on July 4, until then, we will have data on retail sales which…

  • DAX starts a trading week with decent gains

    June 26, 2017

    Summary European indices trade higher across the board Deutsche Lufthansa is the best performing stock, up by 1.66 percent The European stock markets have started the first trading day this week with decent gains as Asian session has set the tone. Indices in Asian ended the day with gains, these…

  • What to watch for today and this week

    June 26, 2017

    Last week brought a slightly stronger dollar, which was mainly due to a mildly hawkish speeches from the FOMC members. It seems that the Federal Reserve sticks to its plan and is not worried on negative developments in inflation, but the upcoming week could change such view. PCE index due…

  • GBP and AUD outperform during a positive Asian session

    June 26, 2017

    The final week of the second half of the year started in a good mood signalling little chance for the bears to trigger a typical June correction on equity markets. All the major indices advanced in Asia on Monday, albeit at a limited scale. GBP and AUD outperformed in the…

  • 3 pairs to watch next week

    June 23, 2017

    GBPJPY Last week saw some volatile trade for this pair as it first threatened to break higher before attempting to break lower and then ending up little changed on the week. The narrowing of the range suggests a tight battle between longs and shorts with a breakout of 140.65 or…

  • Is the FTSE primed for a sell-off?

    June 23, 2017

    Summary: The UK100 has declined this week after starting brightly The market has now produced a technical signal which previously has been fairly successful in calling trend changes A break below the weekly low of 7332 would be seen as further evidence that more declines lie ahead The UK100 (underlying…

  • Is coffee already a buying opportunity?

    June 23, 2017

    There was strong coffee output in Brazil over the course of the past years, this’s especially true when it comes to the last season of Arabica’s production. The coffee market has entered a deficit a few times mainly on the back of a decline of Robusta’s output. However, the lower output…

  • Stocks decline amid quiet FX session 

    June 23, 2017

    The lasting trading day is passing quite calmly, albeit declines are continuing in case of European indices. Those stock markets have started the last trading day this week with modest losses and one could assume that moods might improve going forward as neither American nor Asian session brought a larger pullback.  The Japanese manufacturing…

  • What recommendations tell about companies?

    June 22, 2017

    We would like to introduce you some changes to the recommendations for companies that have been published in recent days. Reviews of brokerage houses act like self-fulfilling prophecies very often so it is important to keep track of them. In our review, we focused on companies which rating has been…

  • Republicans present Trumpcare bill

    June 22, 2017

    This afternoon we got to know the Republican Party’s plan to reform the health insurance system. The change was adopted by the House of Representatives at the end of April and the new law was drafted for a vote in the Senate. Signing this bill is very important, without spending cuts…

  • Stock of the week – Citigroup

    June 22, 2017

    Summary:  Citigroup has experienced a significant improvement of profitability The bank has attractive valuation comparing to its Wall Street’s peers Price of stock moves within a strong uptrend, in case of a re-retest of a last resistance, there would be an interesting buying opportunity  A banking sector has been one the best…

  • NZD gains on sanguine RBNZ statement

    June 22, 2017

    Summary: the RBNZ is positive in the economy, fuels NZD gains NZDUSD could reach a technical 0.7375 level The RBNZ decision was one of the biggest market movers this week and NZD is the most moving G10 currency today as it gains 0.4% against the US dollar that, by the…

  • Gold uptrend about to end?

    June 21, 2017

    Gold has moved lower once more today with price trading down to its lowest level in over a month. Whilst the size of the decline is minimal it does represent another lower low and with the market currently testing a long term trendline from the lows seen last December, there…

  • GBP whipsaws on contrasting BoE signals 

    June 21, 2017

    Summary: GBP rises after Haldane strikes hawkish chords Mixed signals from the BoE causing choppy trade GBPUSD remains under pressure, although a close back above 1.2757 would change this outlook The pound has risen today after the Bank of England Chief Economist, Any Haldane, gave a hawkish speech in Yorkshire.…

  • Economic calendar: big day for NZD and oil

    June 21, 2017

    Summary: Haldane’s speech could affect GBP the DOE report is crucial for oil prices RBNZ decision could be tremendous for the NZD Wednesday’s economic calendar is relatively empty throughout the European session but intensifies later on as there couple of potential market movers. In a chronological order they key ones…

  • Dollar flexes its muscles 

    June 20, 2017

    The US dollar was the strongest currency today as hawkish speeches from the FED members and lack of economic data helped the currency to regain its ground. Meanhwile, the British Pound collapsed on dovish speech from Mark Carney and was the weakest currency among G10. One could say that this…

  • Milk prices fall for first time in 3 months; NZD rally under threat? 

    June 20, 2017

    Summary: GDT auction results show first decline in 3 months NZD is sensitive to the price of milk as it is its largest export The decline could derail the rally with NZDUSD only recently breaking above a key trendline The latest results from the Global Dairy Trade auction have seen…

  • GBPUSD falls through key support

    June 20, 2017

    The GBPUSD has dropped to its lowest level of the week today following dovish comments from Bank of England (BoE) Governor Carney in which he ruled out a rate hike. The market has been sensitive to several major event lately with the UK General Election, Fed rate hike, BoE and…

  • Oil falls to 7 month low

    June 20, 2017

    Summary: Brent Oil falls below 46.62 to trade at its lowest level in 7 months The market has dropped around $9 since last month’s OPEC meeting  US inventory data could drive the market in the coming days Brent Oil has taken another leg lower today with the market falling to…

  • Pound gets a hit while NZD and AUD show their strength

    June 20, 2017

    The British Pound is in the spotlight today after Bank of England governor Mark Carney indicated that it’s too early to expect a rate hike from BoE. Meanwhile, AUD and NZD rise on better data and improving moods. The pound fell after the Bank of England governor said he did…

  • Pound gets a hit while NZD and AUD show their strength 

    June 20, 2017

    The British Pound is in the spotlight today after Bank of England governor Mark Carney indicated that it’s too early to expect a rate hike from BoE. Meanwhile, AUD and NZD rise on better data and improving moods. The pound fell after the Bank of England governor said he did…

  • Goldman expects RBA to hike in November

    June 20, 2017

    The Australian dollar has been thriving since the beginning of June what has been partially reflected by a weakness of the US dollar. Moreover, there was quite an impressive jobs report revealed last week which showed a falling jobless rate and a creeping up labor force participation rate at the…

  • European stocks hold their appeal

    June 20, 2017

    US indices marked a pretty stellar session yesterday with the NASDAQ (US100 on xStation5) leading gains. The technological index picked by as much as 1.42%. Moreover, the SP500 (US500) climbed by 0.83% while the Dow Jones (US30) rose 0.68%. These upbeat moods impacted Asian indices as well which, in turn,…

  • Wall Street hits records as US dollar recovers

    June 19, 2017

    Monday was very benign in calendar terms but brought quite a moves on financial markets as many major equity indices stormed higher by over 1% and US dollar was able to mitigate recent losses. Sanguine moods dominate on Wall Street when all time highs have been set.  The S&P500 futures…

  • What next for GBP?

    June 19, 2017

    Summary: GBP searching for direction and remains in consolidation range from 1.2633-1.2820 against USD Brexit negotiations began today, with the "divorce terms" the first item on the agenda Carney speech tomorrow morning at 9:30 (BST) could have an impact on GBP The pound has been one of the most volatile…

  • Oil looking to join in the move higher

    June 19, 2017

    Brent Oil has risen to its highest level of the day in the past hour as the market looks to join in the risk on move seen in stocks and Gold already today. Price is now testing the top of the Ichimoku cloud on H1 and this has contained any…

  • Ross “Neither Canada nor Mexico are currency manipulators”

    June 19, 2017

    US Commerce Secretary Wilbur Ross has been speaking about exchange rates, stating that he doesn’t believe Canada or Mexico are currency manipulators.Since Trump won the election there has been several accusations from the new administration aimed at other countries for manipulative their exchange rate. Ross also has said this afternoon…

  • Calmer start of a new trading week

    June 19, 2017

    The new trading week started on a slightly calmer footing as traders try to evaluate the latest FED’s meeting and are awaiting the upcoming macroeconomic reports from all over the world. The Federal Reserve delivered its second rate hike on Wednesday as was widely expected. Importantly, it didn’t lower its…

  • US markets turn lower as the data disappoints

    June 16, 2017

    A revival of the US dollar that occurred on Wednesday after the FOMC meeting and was continued throughout Thursday has been stopped short today as the data simply did not allow the move to be continued. The US dollar has been the weakest G10 currency as the US session is…

  • Kashkari explains his dissent; Gold near weekly lows

    June 16, 2017

    Summary: Kashkari: "We should have waited for more data" Sole dissenter in the minority in wanting to keep rates on hold Gold set for second successive weekly inverted hammer On Wednesday evening the Fed announced a 25 basis point increase to their base rate as was widely expected. However one…

  • 3 pairs to watch next week: GBPUSD, CADJPY and USDJPY

    June 16, 2017

    GBPUSD This pair rose last week after holding the a key support level at 1.2633. With an inside candle on the weekly timeframe the market is consolidating and will continue to do so until we see a break outside of either 1.2633 or 1.2965. Longer term there is an inverse…

  • Amazon to buy Whole Foods in $13.7B acquisition 

    June 16, 2017

    Summary: Amazon to takeover Whole Foods with $13.7B bid Both stocks rising on the news as investors react positively   Deal subject to shareholder approval and expected to close in second half of the year Tech giant Amazon (AMZN.US) has agreed a price of $42 per share to buy upmarket grocery…

  • Hindenburg Omen gives warning for Tech stocks

    June 16, 2017

    Summary: The US30 has rallied to an all time high this morning However the US100 is lagging and noticeably nonperforming The Hindenburg Omen for the US100 could be seen as a warning sign US stock markets have opened for the final time this week at similar levels to last night’s close.…

  • USD lower on poor housing data from the US 

    June 16, 2017

    The latest economic data from the US has threatened to halt the rally seen in the US dollar since the Fed meeting with the buck paring some of its gains. Both the number of building permits and the number of housing starts in the US came in below consensus forecasts…

  • Upbeat moods continue amid week of central banks

    June 16, 2017

    The last trading day in financial markets is passing in bullish moods as all European indices are on the green side. It’s worth recalling that this week abounded with three central banks’ meeting where two of them (FED and BoE) exerted upward pressure on their currencies. The BoJ stayed put as it…

  • What to watch for today

    June 16, 2017

    The most relevant events scheduled for this week are already behind us. As it was broadly expected the Federal Reserve chose to hike interest rates by 25 bps what along with a quite hawkish statement propped up the greenback. In turn, some unexpected results came from yesterday’s BoE meeting. Admittedly, the…

  • USDJPY breaks higher on BOJ

    June 16, 2017

    The yen fell for a second day as the Bank of Japan maintained its easy monetary stance even as more policy makers around the world seek to exit stimulus. Japan’s currency headed for its biggest weekly loss in more than a month as economists pushed back expectations of when the BOJ…

  • Wall Street set for red open

    June 15, 2017

    US stock markets are indicated to open lower at the bottom of the hour with stocks not taking too kindly to the less-dovish Fed last night. With expectations for a dovish hike seemingly widespread stocks were hoping to remain well supported by monetary policy but the hawkish slant has caused…

  • USD supported by second tier US data

    June 15, 2017

    Summary: The US dollar has added to yesterday’s gains so far today  Stronger than expected initial jobless claims and Empire state manufacturing are supporting USD Gold has broken below a potentially key support level  The US dollar is rising amongst the vast majority of its pairs with only the BRL…

  • BoE base rate: 0.25%

    June 15, 2017

    Bank of England official bank rate: Consensus: 0.25% Prior: 0.25% MPC official bank rate votes: 5-3 Consensus: 7-1 Prior: 7-1  

  • UK retail sales fail to boost the pound

    June 15, 2017

    Summary: UK retail sales comes in below consensus forecasts GBP lower heading into the release but has seen a muted reaction since The UK100 has fallen to its lowest level in almost a month and may be on the verge of printing an important technical signal  The latest retail sales…

  • FED sticks to its plan

    June 14, 2017

    The Federal Reserve delivered a second rate hike this year and showed barely changed economic forecasts. The move is more or less in line with expectations, but the dollar slightly pares its recent fall. That’s because the Federal Reserve has barely changed its rate hike forecast and it still expects…

  • FED – what to watch for

    June 14, 2017

    While bond and currency traders still see a Federal Reserve rate hike Wednesday as all but baked in, the latest disappointing U.S. inflation report has them tearing up their guidebooks for how to react to the central bank’s policy decision. Summary:  The FED is expected to raise rates despite weaker data from the US economy…

  • Key markets ahead of the FOMC

    June 14, 2017

    It’s not long now until the most eagerly awaited event of the month for traders with the FED set to announce the outcome of their latest rate decision and release the accompanying statement and dot-plot at 7PM (BST). 30 minutes later Fed chair Yellen will conduct a press conference  Despite the…

  • Oil plunges on inventory release

    June 14, 2017

    A slightly smaller than expected drawdown in the weekly inventory data from the US has been met with disdain from oil traders as Brent has dropped more than 100 ticks in the past half an hour. The headline reading showed a drop of 1.7M barrels compared to forecasts of -2.4M…

  • API surprised to the downside

    June 14, 2017

    Summary: API showed an unexpected build in oil stocks Today’s DoE report crucial for a further scenario in WTI price action The American Petroleum Institute (API) revealed quite a shocking report on oil stocks as it showed a build by 2.75 million barrels while the consensus has indicated a decline by…

  • Markets in excellent mood ahead of the FED meeting

    June 13, 2017

    In Europe it was a very upbeat session ahead of tomorrow’s Federal Reserve meeting as most bourses ended the day in the green territory. As for now, major indices in North America inch higher and US dollar is trading slightly lower. In Asian session New Zealand’s dollar was the strongest…

  • OPEC: lower supply from non-OPEC countries 

    June 13, 2017

    OPEC published its monthly report on the oil market today. Its tone is rather positive as a projection of production for the next ten years has been lowered for non-OPEC countries. On the other hand, while the restriction agreements are respected by all its signatories, growing supply form Libya and…

  • Nasdaq bears to have another go at the lows?

    June 13, 2017

    After beginning the US session brightly and trading up to its highest level of the day the US100 has fallen lower in the past hour. Price is now not far off being flat on the day and given the large sell-off seen on Friday there is a heightened level of…

  • 2 trading scenarios for the Fed

    June 13, 2017

    Summary: The FOMC decision is the key event this week. Decision will be announced on Wednesday 7pm BST (8pm CET) and conference will start 30 minutes later Markets expect a "dovish hike" - interest rates hike but cautious statement, this could be a chance for the dollar A significant dot-plot…

  • Banks ahead of the FED’s meeting

    June 13, 2017

    There is no doubt that the FED’s meeting will draw most of markets’ attention this week. The event is taking place later in the day. The rate decision will be announced at 7 pm BST and the much more interesting press conference will be kicked off 30 minutes later. Market’s participants expect…

  • NZD firms despite data from China

    June 13, 2017

    The New Zealand’s dollar has been the strongest currency during the Asian trade as the session lacked any major impact event. The data from China could be a cause for concern but has been broadly ignored by the markets.  Auto sales in China declined in May in y/y terms for…

  • USDCAD tumbles on BoC’s comments

    June 12, 2017

    The USDCAD is tumbling following comments from BoC’s Wilkins that they to assess whether lless stimulus is needed. As a result the USDCAD is slipping to its daily lows. Key remarks of her speech: ’significant’ Canada monetary stimulus at present fading oil drag important aspect of BoC’s assessment  US policy…

  • Has ECB become less reliant on stimulus?

    June 12, 2017

    The European Central Bank decided to leave its monetary policy unchanged last week and tweak its forward guidance a bit. Simultaneously, it revised inflation forecasts down what caused some concerns when the ECB could actually strike its inflation goal. Since then,  the euro has responded quite marginally despite a meaningful divergence…

  • What do iron ore prices tell about the Aussie?

    June 12, 2017

    As we pointed out in the previous post, the BNPP has announced its weekly trade idea where it advises to sell the AUDUSD this week for a few reasons. Either way, it’s worth taking a closer look at fundamental metrics being interested in trading the Australian currency in following days. …

  • US Tech stocks start under pressure

    June 12, 2017

    We earlier noted that the tech heavy US100 had experienced some strong selling that was largely unexplained late on in Friday’s session and there’s been some more notable weakness today. Just over half an hour since the Wall Street open and the US100 is lower by around 1.2%. Whilst this contract…

  • BNPP trade of the week: Sell AUDUSD

    June 12, 2017

    BNP Paribas have announced their latest trade of the week with the French bank suggesting that short positions in the AUDUSD could be attractive.   Currency investors should consider selling AUD/USD this week, advises BNP Paribas Research this week. "We recommend to short AUDUSD because we think the USD could rally…

  • Oil attempts to bounce

    June 12, 2017

    Brent Oil (+1.72%) is rising today as the market seeks to recover some of the recent losses since the OPEC meeting last month. Price declined more than 13% from the high seen on the day of the OPEC meeting but buyers have stepped in at a familiar region around 47.60. …

  • DAX trades lower in a quiet European session

    June 12, 2017

     European markets are trading significantly lower today responding to a sell-off on tech stocks in the US on Friday  and awaiting the meeting of the Federal Reserve on Wednesday. Our weekly preview of the most important market moving events is available here. The DAX Index  declines by 1.13 percent (DE30),…

  • GBP exposed as PM May faces political tests

    June 12, 2017

    Summary Theresa May faces a tough week as some members of her party are furious after the elections A coalition with the DUP has not yet been finalized GBPUSD could slide towards 1.2550 amid political during a very eventful week in the UK The British pound has stabilized after a…

  • Macron scores landslide victory

    June 12, 2017

    Summary: Macron’s party wins parliamentary elections Pro-market president could now introduce reforms EURUSD could have ended a shallow correction and has returned above 1.12 President Emmanuel Macron who defeated Marine Le Pen in April and May in presidential elections has now ensured a decisive grip on power as his one…

  • Technical overview – 3 pairs to watch next week 

    June 9, 2017

    GBPCAD  This pair fell lower at the tail end of last week to close at its lowest level in almost 2 months. Price is now testing a rising trendline from the lows seen at the start of the year. This trendline has attracted buyers back in on several occasions so…

  • FTSE100 loves the elections’ outcome – technical analysis

    June 9, 2017

    In spite of the fact that the UK’s elections did not meet expectations as the Tories are short of majority, the British FTSE100 (UK100) seems to shrug it off as a weaker pound could boost profitability of many companies listed there. That relationship is seen between the EURUSD and the…

  • DAX trades higher as buying spree continues

    June 9, 2017

    European markets are trading higher today as investors reacted to a hung parliament’s scenario in the UK. Political uncertainty has surprisingly sent major European bourses higher on early Friday session, Asian markets closed in a positive territory. It looks like investors see the UK elections as an internal affair, without a…

  • Shock result in UK elections; key technical levels to watch 

    June 9, 2017

    The GBP plummeted last night following the release of exit polls which projected that the incumbent Conservative party had lost their majority in the House of Commons. Watch the short video below for some key technical levels to look out for going forward in the GBPUSD, GBPJPY, EURGBP and UK100.…

  • Technical outlook after UK election

    June 9, 2017

    Prime Minister Theresa May had called the snap election to strengthen her hand in Brexit negotiations. Possibility of a hung parliament in the UK was the worst case scenario for the Conservatives, early outcome projections seem to confirm this nightmare has come true for Theresa May. As pound gained since April…

  • Draghi disappoints, waiting for fireworks

    June 8, 2017

    So far, "the Super Thursday" disappoints as European Central Bank’s Mario Draghi said exactly what market participants expected. "The key ECB interest rates remain at their present levels for an extended period of time and well past the horizon of the net asset purchases". A key point here is the omission…

  • Key levels for pound based pairs before election

    June 8, 2017

    Theresa May surprised many by calling for a snap election for June 8. UK Prime Minister stated that her reason in doing so was to strengthen her hand in Brexit negotiations. At the time that the snap election had being called, the Conservatives had a major lead in the opinion…

  • DAX is leading gains in Europe before the ECB meeting

    June 8, 2017

    The European stock markets opened higher today despite some uncertainties regarding the Super Thursday. Investors had a really volatile day yesterday as rumors concerning potential changes in ECB’s inflation forecasts turned the EURUSD upside down.  The CAC40 (FRA40 on xStation5) gains 0.2%, the FTSE100 (UK100) hovers around break even, the Eurostoxx50…

  • Draghi lowers inflation forecast; EURUSD falls to 1.12 but holds support

    June 8, 2017

    ECB president Mario Draghi has begun his press conference in Tallinn. Selected quotes are as follows: "The Governing council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases". A key point…

  • Ahead of the ECB: is euro prone to tumble?

    June 7, 2017

    While the Australia dollar was the biggest mover today, there’s no doubt that the most volatile currency was the euro. The shared currency tumbled, then rebounded then tumbled again on rumours from the European Central Bank.  Summary: Today’s price action suggests that risks are tilted to the downside ahead of…

  • Oil plummets on shock DOE build

    June 7, 2017

    Brent Oil (-3.1%) has seen some strong selling in the past twenty minutes after an unexpected rise in DOE inventories. The market has been under pressure ever since the OPEC meeting last month and the latest leg lower has come on the back of a 3.3M rise in inventories. A…

  • Are US Treasuries a bargain?

    June 7, 2017

    Bill Gross has been speaking at a Bloomberg conference this afternoon offering his views on US government bonds and the broader economy. The fund manager believes that US bonds are a bargain relative to other countries with the current 2.16% yield on the ten year (Tnote) higher than many other…

  • DAX opens slightly lower as Super Thursday looms

    June 7, 2017

    European stock markets are slightly lower or unchanged  today as investors seem to prepare themselves ahead of the so-called Super Thursday when the UK elections as well as the ECB’s meeting take place.  The DAX (DE30 on x Station5) falls 0.18%, the Eurostoxx50 (EU50) gains 0.1% and the French CAC40 (FRA40) is up by…

  • What to watch for today

    June 7, 2017

    There’s no doubt that Thursday will be the most important day this week, but there are also some interesting reports worth looking at in upcoming hours. Traders will also react to rumours from the ECB (if there are any leaks) as well as to the new polls from the United…

  • The API report fails to back a rally in oil prices

    June 7, 2017

    Oil prices recovered yesterday but the API report failed to provide a factor that would maintain that positive momentum. Sellers are back on the market and unless the key DOE report changes the outlook today, oil prices could test the lows again soon. The American Petroleum Institute inventory data for…

  • Wall Street set for red open 

    June 6, 2017

    There has been a notable souring of sentiment today for stock indices around the globe with Asian and European markets in negative territory. This risk-off move has been further supported by the drop in the USDJPY (-1.02%) and the rise in Gold (+0.91%) with the precious metal moving back to…

  • Chicago PMI revised higher to 59.4

    May 31, 2017

    The earlier release of the Chicago PMI was somewhat disappointing with the 55.2 missing both the consensus forecasts and the prior reading. However in recent minutes a revision to this print has been announced which has seen a rise in the US dollar with USDJPY popping up by around 25…

  • GBP reverses declines on latest poll

    May 31, 2017

    A YouGov poll late last night which showed that the Conservatives lead over Labour had slipped and that the incumbent party could end up losing their majority in parliament caused some weakness in the pound which was also felt this morning as GBP began the European session on the back foot.  Since…

  • Soft data causes soft start for US stocks

    May 31, 2017

    US stock markets have fallen lower since the open with some notable selling seen in the US500. The first 30 minutes of trade saw the market fall around 10 points and price tumble from near the top to a fresh low for the week. Price is now testing the 2400…

  • US Pending Home Sales M/M: -1.3%

    May 31, 2017

    US pending home sales M/M: Consensus: +0.7% Prior: -0.8%  

  • Chicago PMI: 55.2

    May 31, 2017

    Chicago PMI: 55.2 Consensus: 57.0 Prior: 58.3  

  • EMU inflation surprises to the downside

    May 31, 2017

    Inflation data in the  euro area dropped to 1.4 percent on YoY basis in May, from 1.9 percent in April, according to fresh figures Wednesday from the European statistics office. What’s more, also the so called "core" measure was lower than expected, falling to 0.9% in April from 1.2% in…

  • DAX opened lower, GBP falls on the latest polls

    May 31, 2017

    European bourses opened mixed today as political risks once again weigh on markets. The latest poll from YouGov shows that Conservatives will lose majority in the UK Parliament. DAX is trading flat today as political concerns grow. German bourse is now down by 0.1 percent, FTSE 100 is up by…

  • What to watch for today

    May 31, 2017

    Overnight, the China PMIs were a touch better than expected for both manufacturing and non-manufacturing components. Improving global outlook, a robust banking system and a recovery in dairy prices all cause to maintain the positive tone on NZD after RBNZ Financial Stability Report publication during Asian session. Today’s economic calendar…

  • New Zealand’s Financial Stability Report

    May 31, 2017

    Yesterday, New Zealand dollar has been the strongest currency in the G10 basket mainly benefiting from declining USD 10 year rates. NZD surged before publication of Financial Stability Report that could shed some light on interest rates in the future. According to the TDS analysts, FSR highlighted reduced risks in…

  • British pound falls on a new poll

    May 31, 2017

    As we are getting closer to the June 8, date of UK election, sterling is affected more by election polls than economic news. In a latest YouGov poll, which predicts that the Conservatives will lose their Parliamentary majority. A decreasing gap between Conservatives and Labour party is weakening sterling as we noted here.…

  • Goldman lowers price target for oil

    May 30, 2017

    Goldman Sachs has downgraded its estimations for oil prices for this year, citing a potential rise in shale gas production, new projects and OPEC restrictions. The investment bank now points to an average of 55.39 $ per barrel for Brent from its previous estimate of 56.76 $ a barrel. It also lowered…

  • Germany – CPI 1.5% y/y

    May 30, 2017

    Consensus: 1.6% y/y, previously 2% y/y  

  • BofA sees NOK and SEK gaining on the ECB

    May 30, 2017

    If the ECB begins to signal a more hawkish shift, as expected, this could take some pressure off both the Riksbank and Norges Bank, BofAML strategists write in a client note. Here are the most interesting headlines taken from the note: Don’t expect tightening from either central bank any time…

  • Weaker infltaion data from the Eurozone

    May 30, 2017

    Today’s regional inflation reports from Germany show a lower inflation dynamics in the biggest economy in Europe. This trend stands for other countries as well. Saxony May CPI was -0.1 percent m/m, Brandenburg May CPI was -0.1 percent m/m, Bavaria May CPI was -0.1 percent m/m, Hesse May CPI was…

  • DAX is trading lower, banking stocks weigh 

    May 30, 2017

    European bourses are trading lower today as investors shifted their attention to political events in Europe.   DAX is trading lower today as political concerns arise in Europe, banking sector is now dragging down the Index. Source: Bloomberg The Stoxx Europe 50 Index is trading now 0.61 below yesterday’s close as BNP…

  • What to watch for today

    May 30, 2017

    After yesterday’s quiet session due to bank holiday, UK and US markets were closed. Today, as traders are back to their desks, we can expect a return of liquidity to the markets. With US dollar rising now 0.20 percent along with Japanese Yen, Swedish Krona losing 0.65 on lower growth in…

  • James Bullard’s dovish stance

    May 30, 2017

    James Bullard does not change his current view on US economy, in Bloomberg TV interview said that current level of interest rates is on an appropriate level. According to the FOMC member, there will not be anything like the taper tantrum which is probably the result of reduction in the…

  • Latest CFTC report

    May 29, 2017

    Latest CFTC report did not bring a singificant change in traders positioning however, in corn market, we probably observe a turning point. In general, agricultural raw materials, especially grains, are heavily oversold. It did not change since previous CFTC report. Current positioning in agricultural raw materials compared to other asset…

  • DAX falls in the morning trade

    May 26, 2017

    European bourses were mixed on Friday morning as slumping oil prices continued to weigh on investor sentiment. Donald Trump’s comments on the German trade have also taken their toll on European stocks. The DAX began the final day of the trading week lower, down 0.36 percent, with most sectors in negative…

  • Sentiment worsens on Trump comments

    May 26, 2017

    President Donald Trump has reportedly reignited tensions with his EU counterparts in the latest leg of his international tour after calling the Germans "very bad" for their trade surplus with the U.S. The president vowed to block German car exports to the U.S. during a meeting with top EU leaders on…

  • Asian markets closed lower

    May 26, 2017

    Yesterday’s OPEC decision on extending production cut by 9 months disappointed markets, oil prices fell by almost 5 percent. A slump in crude weighed on energy shares as most Asian markets headed for a lower finish to the week. Nikkei 225 closed lower by 0.64 compared to yesterday’s close despite…

  • FED’s Williams sees 2 more rate hikes

    May 26, 2017

    San Francisco Federal Reserve President John Williams said in his latest interview, that he sees small short-term gains and little for the longer term when asked about fiscal policies under US President Donald Trump. He also stated that the economy is running "somewhat hot" with US unemployment at 4.4 percent,…

  • OPEC: oil falls in the aftermath of the decision

    May 25, 2017

    Crude oil tumbled on Thursday even after OPEC and its allies extended their agreement to lower production by nine months.The Organization of Petroleum Exporting Countries extended the deal that started in January to address the global supply glut that has subdued prices. Non-OPEC producers including Russia also agreed to cut production through March, said Bijan Namdar…

  • OPEC press conference

    May 25, 2017

    Following the conclusion of their bi-annual meeting OPEC there are several quotes from oil ministers as they leave. Selected quotes are shown below: Kuwait Oil Minister: "Nigeria, Iran and Libya remain under the same conditions. Further action dependent on monitoring committee Saudi Oil Minister: "Oil market rebalancing is partially achieved.…

  • OPEC and FOMC minutes in the spotlight

    May 25, 2017

    After yesterdays FOMC minutes reports, European markets opened higher in the morning. Minutes, widely expected by market participants, brought more dovish tone sending main European bourses above yesterdays close. Today, however, the story of the day is OPEC and non-OPEC members meeting in Vienna. On latest reports, according to Bloomberg,…

  • SP500 closed at record highs

    May 25, 2017

    U.S. equities closed higher on Wednesday as investors cheered the Federal Reserve’s slightly dovish tilt. Some of the FOMC members expressed their worries on inflation. The S&P 500 gained 0.25 percent, as real estate led advancers, to post a record close. The Dow Jones industrial average rose about 75 points,…

  • Dollar continues its slide post FOMC minutes

    May 25, 2017

    The USD dollar continued to weaken overnight as FOMC minutes brought some uncertainties on the FED’s rate hike path. While the central bank still expects to raise rates soon, worries about inflation could mean that the path won’t be as hawkish as it was earlier expected.  FOMC participants generally judged…

  • FOMC publishes its minutes

    May 24, 2017

    The FOMC published minutes from its latest monetary policy meeting. Here are the most important headlines taken from the document: Most FED officials saw tightening likely apprpriate soon FOMC voters: prudent to await evidence slowdown is transitory FED będzie redukował bilans w odstępach 3 miesięcznych  Minutes confirm that a rate…

  • Oil finely poised heading into OPEC meeting 

    May 24, 2017

    Brent Oil is trading at a potentially key level as OPEC members begin their bi-annual meeting with a possible extension of the current production cuts sure to be near the top of the agenda. Watch our video for further analysis:      

  • DOE Crude Oil Inventories: -4.4M

    May 24, 2017

    DOE crude oil inventories: -4.4M Consensus: -2.4M Prior: -1.8M Distillate change: -0.5M Consensus: -0.5M Prior: -1.9M Cushing change: -0.7M Consensus: 0M Prior: 0M Gasoline change: -0.8M Consensus: -1.1M Priro: -0.4M  

  • US Existing Homes Sales 5.57M

    May 24, 2017

    US existing home sales: 5.57M Consensus: 5.65M Prior: 5.71M  

  • BOC Overnight Rate: 0.50%

    May 24, 2017

    Bank of Canada overnight rate: 0.50% Consensus: 0.50% Prior: 0.50%  

  • Cocoa slumps as supply fears abate

    May 24, 2017

    The price of Cocoa has experienced a large decline during today’s session as the has dropped by more than 4%. A negative close today would mark the 4th daily decline in a row and the size of the drop could be seen as indicating that the pace of the selling…

  • More details ahead of the OPEC’s meeting

    May 24, 2017

    OPEC and non-OPEC joint committee (JMMC) is  currently meeting to study merits of extending existing production cuts by 6, 9 or 12 months. Final decision by widergroup of participating nations will come Thursday. Biggest producers Saudi Arabia, Russia favor 9 months cut. JMMC meeting was scheduled to start noon Vienna time, comprising OPEC…

  • Wednesday’s key events

    May 24, 2017

    After main news of Asian session, Moody’s downgraded China’s credit rating to A1 from AA3 with change its outlook from stable to negative, investors focus now will shift towards events in European and US session. During next several hours investors will focus on ECB’s Mario Draghi speech on financial stability after…

  • Trading the OPEC meeting

    May 24, 2017

    When the OPEC cartel decided to cut output for the first six months of 2017 back in November 2016 it sparked a rally in oil prices. Now the Cartel is trying to repeat the trick. In this analysis we take a look at how this deal has been executed, how…

  • financial stability risks in the euro zone are contained

    May 24, 2017

    According to to latest Financial Stability Review published by the ECB, financial stability risks in the euro zone are contained but remain significant and have even increased in some areas over the past six months. The Financial  Stability Review provides an overview of the possible sources of risk and vulnerability to…

  • European markets open lower after China downgraded

    May 24, 2017

    European markets, after rating agency Moody’s downgraded China, opened lower extending losses from Asian session. Chinese credit rating for the world’s second largest economy has been downgraded to A1 from AA3 with change in outlook from stable to negavie. DAX started on Wednesday morning with 0.25 percent decline compared to yesterdays…

  • Westpac’s leading index in decline

    May 24, 2017

    Leading Index, which indicates the likely pace of economic activity relative to trend from three to nine months ahead, fell from 1.11 percent in March to 0.92 percent in April. Bill Evans, Chief Economist at Westpac, explains that this marks the ninth consecutive month where the growth rate of the…

  • Moody’s downgrades China

    May 24, 2017

    The main story of the Asian session is a decision from Moody’s to downgrade the Chinese rating to A1 from AA3 (while changing outlook to stable from negative). Here’s the reasoning: Rating reflects expectations that China’s financial strength will erode somewhat over the coming years Stable outlook reflects assessment that at…

  • Oman sees no need for deeper OPEC cut

    May 23, 2017

    Just before Thursday’s OPEC meeting in Vienna we can see more and more news regarding oil market. In recent weeks we observed a rebound in oil prices on the extension of a production cut. Latest retracement in oil prices is mainly because of comments made by Oman officials, regarding the extension of…

  • US producers add oil rigs

    May 12, 2017

    Oil prices have managed to recover this week following a slump amid lower US inventories and increased speculation ahead of the OPEC meeting (25 May). However, Baker Hughes data is a reminder that at these prices, shale output is bound to surge.  A number of active oil rigs in the…

  • Uni Mich: 97.7

    May 12, 2017

    Preliminary University of Michigan consumer sentiment: 97.7 Consensus: 97.0 Prior: 97.0 Preliminary University of Michigan inflation expectations: 2.6% Prior: 2.5% Business inventories M/M: 0.2% Consensus: 0.1% Prior: 0.3%   

  • Softer US data to threaten rally in the buck?

    May 12, 2017

    The main economic releases of the day have come in a little disappointing from the US with both CPI and retail sales missing estimates. The CPI reading showed a rise of 0.2% M/M which whilst being an improvement on the previous (-0.3%) was still slightly below estimates of a 0.3%…

  • Australia ratings affirmed at AAA by Fitch

    May 12, 2017

    Rating agency Fitch, says "Australia’s AAA rating reflects the country’s high income levels, strong governance and effective policymaking institutions." Fitch sees gross general government debt peaking at slightly higher level than September projections Fitch sees Austraial real GBP to expand by 2.8 percent in 2017 and 2.7 percent in 2018…

  • EURCHF testing the top of recent range

    May 10, 2017

    The EURCHF has continued to rise during today’s session as the pair adds to the strong recent gains seen since the 1st round of the French election. The market is now testing the upper end of its recent range around 1.10 and this area has proved significant resistance on a…

  • DOE Crude Oil Inventories: -5.2M

    May 10, 2017

    DOE crude oil inventories: Consensus: -2.0M Prior: -0.9M  

  • Oil ahead of DOE data

    May 10, 2017

    We earlier noted how Oil had failed to rise despite last night’s API drawdown being  the largest this year. Since then there has been a move higher in the oil price with Oil.WTI (+0.84%) recently trading its highest level of the day.  In terms of levels to watch the 47.10 region…

  • BoE preview: is GBP overbought?

    May 10, 2017

    This week has been traded amid tunes of profit-taking post French elections. While the outcome has been extremely euro positive, the common currency has been under pressure after gaining heading to the second round on Sunday. GBP is another European currency that has been doing great. In this analysis we…

  • EURUSD drops to two-week lows

    May 10, 2017

    The ECB has issued a study that claims unemployment in Europe is twice as much as official data suggests. European Central Bank said that jobless data excludes people who fail to meet statistical criteria and those with part-time jobs who want more hours. Report claims that unemployment rate is actually around…

  • NZDUSD technical analysis

    May 10, 2017

    Today Reserve Bank of New Zealand announces its monetary policy. During last two years, RBNZ gradually reduced rates from 3.5 percent to 1.75 percent, which is now on the all-time lows. Tone and remarks made by central bankers might bring some volatility therefore, providing trading opportunities. Now let’s have a…

  • OIl fails to rally despite a larger drop in inventories

    May 10, 2017

    The latest weekly API inventory data for the week ending May 5th reported a draw of 5.79 million barrels. This was a substantially larger draw than the consensus forecasts of around 1.8 million barrels and followed the 4.16 million draw seen last week, although the official data recorded a much…

  • China could be the next risk for financial markets

    May 9, 2017

    With French elections that are now finally over, the market enjoys a nice rally. US indices reach new highs almost every day, while the market volatility has fallen to the lowest level since 2016. It seems that there’s nothing to worry about, but is it justified? Topping the list of…

  • Goldman Sachs on commodities

    May 9, 2017

    Commodity prices usually rally as the Fed enters hiking cycles, but there are three risks that could derail gains, Goldman Sachs said in its latest note. Goldman pointed to U.S. shale oil, diminishing China demand and the Fed’s gradual hiking cycle as risks to its overweight call on commodities. Historically,…

  • Canadian Building Permits: -5.8%

    May 9, 2017

    Canadian building permits: -5.8% Consensus: 4.2% Prior: -2.8% (revised lower from -2.5%)  

  • GBP resilient, gains against the yen 

    May 9, 2017

    GBP has been one of the strongest G10 currencies lately as investors enjoyed a prospect of snap elections that could strengthen May’s hand in Brexit negotiations. GBP seems to be the only G10 currency that has been holding ground against the US dollar this week as the GBPUSD remains above…

  • Mester (FED) heralds upcoming hikes

    May 8, 2017

    Federal Reserve Bank of Cleveland President Loretta Mester on Monday called for additional central bank rate rises and added the U.S. central bank can likely act to start shrinking the size of its massive holdings of cash and bonds later this year. “We have met the maximum employment part of…

  • OPEC rumours move Oil off its lows

    May 8, 2017

    News hitting the wires that OPEC are considering extending their production cuts has provided a boost to the price of oil with Brent moving off near its lowest levels of the day. The market has been under pressure in recent weeks with an incredible run of lower closes seeing just…

  • USD weakens post-NFP, but June hike still on the cards

    May 6, 2017

    The key event today was the NFP report for April. The data was mixed as employment rose higher than expected but wages grew in slower pace. It’s mean that FED will likely hike rates at its meeting in June but it’s not enough to support the US dollar. Meanwhile, in…

  • US Factory Orders M/M: 0.2%

    May 4, 2017

    US Factory Orders M/M: 0.2% US factory orders m/m: 0.2% Consensus: 0.6% Prior: 1.2% (revised higher from 1.0%)  

  • Russian oil minister inclined to extend deal

    May 4, 2017

    Russian oil minister inclined to extend deal Alexander Novak, the Russian oil minister, has been speaking about the current OPEC and non-OPEC output deal. Novak stated that Russia is inclined toward extending the current production cut deal and that talks on this matter are in their final stages with OPEC…

  • Prepare for a rate hike – banks post FOMC meeting

    May 4, 2017

    Prepare for a rate hike - banks post FOMC meeting The FOMC meeting brought no surprise as interest rates were left unchanged. However, chances of a rate hike as soon as June ripped higher as the market saw the statement as hawkish. What’s more, some banks even think that a…

  • Mnuchin on housing and debt

    May 3, 2017

    Mnuchin on housing and debt US Treasury Secretary Steve Mnuchin has been speaking in the recent minutes with some interesting comments made on the housing and debt markets shown below: Housing finance reform will be the focus of the second half of the year It’s not responsible to let Fannie…

  • Aussie dollar moves back lower

    May 3, 2017

    Aussie dollar moves back lower The AUDUSD (-0.72%) has fallen to its lowest level of the day in recent trade as the market appears to be coming under pressure once more. There has been a series of descending peaks over the past few weeks, and Tuesday’s high could have made…

  • UK PMI surges, but China’s shows a nasty surprise

    May 2, 2017

    UK PMI surges, but China’s shows a nasty surprise The UK pound spiked above 1.2900 as the Manufacturing PMI beat expectations and rose to highest since 2014. U.K. manufacturing unexpectedly grew at the fastest pace in three years in April as the domestic market strengthened and the pound’s decline boosted exports. Meanwhile, China’s…

  • DAX slightly higher after a long weekend

    May 2, 2017

    DAX slightly higher after a long weekend European stocks posted modest gains at the open of trading Tuesday as investors returned from a May holiday weekend to stronger U.S. tech sector earnings and improving geopolitical sentiment. Europe’s oil and gas sector was the best performing in early morning deals on earnings news. BP moved…

  • Westpac on the RBA’s rate decision

    May 2, 2017

    Westpac on the RBA’s rate decision Analysts at Westpac lists down the FX and rates market response to April RBA rate decision. The more optimistic global picture painted by the RBA describing the global economic pickup as "broad-based", the guidance that the "Bank’s forecasts for the Australian economy are little…

  • Pound spikes as PMI rises more than expected

    May 2, 2017

    Pound spikes as PMI rises more than expected The UK pound spiked above 1.2900 as the Manufacturing PMI beat expectations and rose to highest since 2014. U.K. manufacturing unexpectedly grew at the fastest pace in three years in April as the domestic market strengthened and the pound’s decline boosted exports. A measure of…

  • Trump hits banks with his interview

    May 2, 2017

    Trump hits banks with his interview U.S. equities closed mostly higher in choppy trade Monday, shaking off comments from President Donald Trump said about breaking up the big banks. The Dow Jones industrial average traded 42.12 points lower after Trump made the remarks. The 30-stock index briefly erased those losses but…

  • An awful miss in China’s Caixin PMI

    May 2, 2017

    An awful miss in China’s Caixin PMI China’s factory sector lost momentum in April, with growth slowing to its weakest pace in seven months as domestic and export demand faltered, a private survey showed on Tuesday. The findings echoed those in official manufacturing and service sector data on Sunday, reinforcing…

  • US data disappoints, but dollar holds firm

    May 2, 2017

    US data disappoints, but dollar holds firm The US dollar is slightly up in the morning as the market awaits tomorrow’s meeting of the Federal Reserve. However, the latest figures from the US economy were rather weak, which doesn’t bode well ahead of the central bank’s decision. Let’s begin with…

  • AUD slightly higher as RBA stands pat

    May 2, 2017

    AUD slightly higher as RBA stands pat Australia’s central bank held rates steady for a 9th consecutive month in a widely expected decision as it sought to balance the risk of busting a debt-fuelled property bubble against subdued inflation and wages growth.  The Reserve Bank of Australia kept rates at…

  • GBP a surprise winner on Friday

    April 28, 2017

    GBP a surprise winner on Friday For the majority of the European trading session Friday seemed to be a day for the euro. The common currency has been supported by spectacular inflation data. The US received a mixed bag with a tint of a disappointment. However, it was a pure…

  • US Advance GDP Q/Q: 0.7%

    April 28, 2017

    US Advance GDP Q/Q: 0.7% US advance GDP q/q: Consensus: 1.3% Prior: 2.1%  

  • Nomura on the ECB and Riksbank

    April 28, 2017

    Nomura on the ECB and Riksbank In view of the analysts at Nomura, markets were slightly disappointed by Riksbank’s dovish stance and no change in forward guidance by ECB, in their respective meets yesterday. Euro and ECB The market started the week on a positive note following Emmanuel Macron’s success…

  • A lot to watch for today – US and UK GDP 

    April 28, 2017

    A lot to watch for today - US and UK GDP  Friday could be one of the most interesting sessions of the week with GDP prints from the biggest economies, including the UK, US and Canada. What’s more, preliminary inflation data from the EMU is due in less than 2…

  • JPY reverses from the crucial resistance as data misses expectations

    April 28, 2017

    JPY reverses from the crucial resistance as data misses expectations Japan’s core consumer prices rose at a slower than expected pace in March and household spending fell more than expected in a worrying sign for the central bank that domestic demand won’t be strong enough to generate sustained inflation. Stripping…

  • Draghi press conference

    April 27, 2017

    Draghi press conference ECB president Mario Draghi has begun his press conference. Selected quotes from his speech are shown below: Downside risks have diminished Underlying inflation pressures continue to remain subdued and have yet to show a convincing upward trend If outlook becomes less favourable, we stand ready to increase…

  • Initial Jobless Claims: 257k

    April 27, 2017

    Initial Jobless Claims: 257k Initial jobless claims: 257k Consensus: 241k Prior: 243k (revised lower from 244k) Durable goods orders m/m: 0.7% Consensus: 1.5% Prior: 1.8% Core durable goods orders m/m: -0.2% Consensus: 0.4% Prior: 0.5%  

  • ECB leaves policy unchanged

    April 27, 2017

    ECB leaves policy unchanged Nothing new from the European Central Bank. The euro falls more than 20 pips on the announcement.     

  • Rabobank on the exit strategy from the ECB

    April 27, 2017

    Rabobank on the exit strategy from the ECB We’re minutes away from the interest rate decision from the European Central Bank, so it may be a good time to wonder how the exit strategy from the massive stimulus could look like in the European Monetary Union. Rabobank comes with its…

  • DAX falls on Trump’s tax plan and Deutsche Bank’s results

    April 27, 2017

    DAX falls on Trump’s tax plan and Deutsche Bank’s results Markets in Europe were lower Thursday morning as investors waited to hear from European Central Bank President Mario Draghi and digested fresh corporate earnings. The DAX index was 0.21 percent lower with most sectors trading in negative territory. Basic resources and…

  • Pound jumps above 1.29, CBI beats estimates

    April 27, 2017

    Pound jumps above 1.29, CBI beats estimates The pound rose to above 1.29 versus the dollar for the first time since October , which faltered after investors cited a lack of clarity in tax plans unveiled by President Donald Trump’s administration. The positive momentum was also strenghtened by a solid beat in…

  • Tax reform in the US

    April 26, 2017

    Tax reform in the US Here we present hangout of tax reform presented by US officials: "The Biggest Individual And Business Tax Cut in American History Goals for tax reform: Grow the economy and create millions of jobs Simplify our burdensome tax code Provide tax relief to American families—especially middle-income…

  • Interesting Asian session with BoJ decision

    April 26, 2017

    Interesting Asian session with BoJ decision The Bank of Japan will release its decision about interest rate with and it is expected that there will be no changes about current policy stance. Except that, BoJ will provide the latest economic projections which may settle new movement on the Japanese currency. …

  • Oil moves off the lows on DOE data

    April 26, 2017

    Oil moves off the lows on DOE data The price of oil has reacted positively to the DOE release which showed a drawdown of 3.6 million barrels in the past week. The headline reading was the second lowest of the year and the 3rd successive negative reading. Overall the report…

  • Oil looking vulnerable heading into inventories

    April 26, 2017

    Oil looking vulnerable heading into inventories Brent Oil (-0.55%) is trading lower on the day heading into DOE inventories at 3:30. A drawdown of 1.1M barrels is expected after a prior reading of -1.0M and if last night’s API is anything to go on, there could be a positive surprise in…

  • Mnuchin: “Biggest tax cut in US history”

    April 26, 2017

    Mnuchin: "Biggest tax cut in US history" US Treasury Secretary Steve Mnuchin has been speaking on CNBC in the past hour and made some interesting comments on the eagerly anticipated tax reform. The announcement itself is due out around 6:30 UK time. The following quotes are of particular interest: Business…

  • USDCAD stops its “lumber rally” near a vital resistance

    April 26, 2017

    USDCAD stops its "lumber rally" near a vital resistance The USDCAD stopped its upward rally near 1.3600 as we speak because the market digest current feedback from president Donald Trump and their implications for the commerce between Canada and america. The U.S. is predicted to impose a variety of tariffs…

  • Euro continues its rally, AUD eyes inflation information

    April 25, 2017

    Euro continues its rally, AUD eyes inflation information The Congress needs to pass appropriation bills this week to keep away from authorities shutdown and it seems to be just like the US president desires to keep away from one other disappointment as with Obamacare which did not get replaced. He was mentioned…

  • AUD awaits the inflation information

    April 25, 2017

    AUD awaits the inflation information Australian inflation is anticipated to select up within the first quarter, and the headline determine is anticipated to be above the RBA’s goal. supply: Bloomberg The Shopper Worth Index set to be introduced on Thursday is anticipated to have risen zero.6 per cent within the March…

  • Euro jumps above 1.09 on ECB rumours

    April 25, 2017

    Euro jumps above 1.09 on ECB rumours The EURUSD gained sharply over final two hours on rumours that the ECB might strike a hawkish tone on its June’s assembly. All of the financial institution needed was a constructive final result of the French election and as Macron is near profitable…

  • GBPUSD to comply with different GBP crosses greater?

    April 25, 2017

    GBPUSD to comply with different GBP crosses greater? The Pound has risen in the present day with sturdy strikes greater seen within the GBPNZD (+1.32%) and GBPJPY (+1.37%) while the GBPUSD (+zero.43%) has gained however not as strongly. First lets take a look at the GBPNZD which has moved again…

  • Trump sends USDCAD above 2016 peak 

    April 25, 2017

    Trump sends USDCAD above 2016 peak  The Canadian greenback has come beneath stress this afternoon after a tweet from Donald Trump relating to farmers north of the border. The US president tweeted: "Canada has made enterprise for our dairy farmers in Wisconsin and different border states very tough. We is…

  • Market enjoys the end result of the French elections

    April 24, 2017

    Market enjoys the end result of the French elections In comparison with different massive political occasions just like the US elections and UK referndum the polls forward of the French presidential vote that occurred yesterday had been extremely correct. And but the markets are actually enjoying big swings after the results have…

  • Oil set for an additional day of declines

    April 24, 2017

    Oil set for an additional day of declines The oil market has seen worth take a flip for the more severe in current session and a crimson shut right this moment would mark the eighth successive day of decrease closing costs. Oil.WTI (1.05%) is decrease by greater than a %…

  • ECB QE Depend drops 

    April 24, 2017

    ECB QE Depend drops  The newest figures for the ECB QE purchases for the week ending 21st April are proven under: Purchased €11bn vs €12.482bn prior Complete QE 1.4979tn vs 1.4868tn prior Complete lined bonds 216.1bn vs 215.5bn prior Complete ABS 24.32bn vs 24.4bn ior Complete corp bonds 81.0bn vs…

  • Canadian Wholesale Gross sales M/M: -Zero.2%

    April 24, 2017

    Canadian Wholesale Gross sales M/M: -Zero.2% Canadian wholes gross sales m/m: -Zero.2% Consensus: 2.1% Prior: three.three%  

  • Macron means risk-on

    April 24, 2017

    Macron means risk-on In comparison with different massive political occasions just like the US elections and UK referndum the polls forward of the French presidential vote that occurred yesterday have been extremely correct. And but the markets are actually enjoying big swings after the results have been revealed. The euro is an…

  • DAX soars on Macron’s win and reaches all time excessive

    April 24, 2017

    DAX soars on Macron’s win and reaches all time excessive  The present evaluation element climbed to a brand new multi-year document of 121.1. Against this, the expectations gauge, calculated for the interval overlaying the following six months, deteriorated barely to face at 105.2. In consequence, the enterprise local weather index…

  • Oil is preventing again in the present day vs the large downward momentum from final week 

    April 24, 2017

    Oil is preventing again in the present day vs the large downward momentum from final week  After every week that took WTI costs down from 53.5 USD/barrel to about 49.5 the oil market bulls are attempting to reverse the course backed by the risk-on sentiment, resulting in greater than four% positive…

  • Calendar for at present: will CBI knowledge again the GBP?

    April 24, 2017

    Calendar for at present: will CBI knowledge again the GBP? The markets have obtained a powerful optimistic sign attributable to French elections and it seems like no knowledge launch now may spoil the temper. The highest launch at present, Ifo index, truly solely strengthened the optimism by indicating an growing financial momentum…

  • US Flash Manufacturing PMI: 52.eight

    April 21, 2017

    US Flash Manufacturing PMI: 52.eight US flash manufacturing PMI: 52.eight Consensus: 53.7 Prior: 52.eight US flash providers PMI: Consensus: 53.7 Prior: 52.eight  

  • Trump continues to use strain to China 

    April 21, 2017

    Trump continues to use strain to China  Donald Trump, the US President, has tweeted a message to China this morning concerning North Korea. The tweet said: "China may be very a lot the financial lifeline to North Korea so, whereas nothing is straightforward, in the event that they wish to…

  • Cad below stress after knowledge

    April 21, 2017

    Cad below stress after knowledge The Canadian greenback is on the again foot following the latest inflation data release which showed a smaller than expected rise of 0.2% in the headline CPI. This in comparison with an anticipated rise of zero.four% and got here inline with the prior studying.  The…

  • Canadian CPI M/M: zero.2%

    April 21, 2017

    Canadian CPI M/M: zero.2% Canadian CPI m/m: zero.2% Consensus: zero.four% Prior: zero.2% Frequent CPI y/y: 1.three% Prior: 1.three% Median CPI Y/Y: 1.7% Prior: 1.9% Trimmed CPI Y/Y: 1.four% Prior: 1.6%  

  • AUD rebounds on a stable bounce of iron ore

    April 21, 2017

    AUD rebounds on a stable bounce of iron ore Whereas the fx market was comparatively secure on Friday morning, the Australian greenback was the strongest forex amongst G10. That was due to a pointy rebound of iron ore costs that noticed a eight% rally over previous couple of hours. Futures…

  • Terrorists hit forward of the French election, euro falls

    April 21, 2017

    Terrorists hit forward of the French election, euro falls A French policeman was shot useless and two others had been wounded in central Paris on Thursday night time in an assault carried out days earlier than presidential elections and shortly claimed by the Islamic State militant group. Paris Prosecutor Francois…

  • Euro rises forward of the French election, shares really feel it too

    April 20, 2017

    Euro rises forward of the French election, shares really feel it too Each euro and European shares surged on Thursday regardless of the uncertainty related with the French election due Sunday. Nevertheless, the newest ballot put Emmanuel Macron on the pole place within the race, which could possibly be seen…

  • British authorities to increase NI talks 

    April 20, 2017

    British authorities to increase NI talks  Information is simply breaking that the British authorities will prolong the deadline on Northern Eire talks till the tip of June. The talks encompass the opportunity of devolving authorities in Northern Eire. Elsewhere BoE Governor Mark Carney has simply begun the primary of two…

  • Lagarde: international economic system choosing up 

    April 20, 2017

    Lagarde: international economic system choosing up  Earlier this week the IMF launched their world financial outlook report (here) with a barely extra upbeat view on the worldwide economic system. This message has been echoed this afternoon by the MD Christine Lagarde who has said that she is lastly seeing a…

  • US Preliminary Jobless Claims: 244okay

    April 20, 2017

    US Preliminary Jobless Claims: 244okay US preliminary jobless claims: 224okay Consensus: 241okay Prior: 234okay Philly Fed manufacturing index: 22.zero Consensus: 25.6 Prior: 32.eight  

  • Robert Kaplan (FED) on the steadiness sheet discount

    April 20, 2017

    Robert Kaplan (FED) on the steadiness sheet discount Robert Kaplan from the Federal Reserve took half in an interview with the Bloomberg TV. He mentioned some fascinating issues on the steadiness sheet discount and on the economic system:  There are some uncertainties for the US client, particularly in healthcare regulation…

  • Banks predict a stronger lira

    April 20, 2017

    Banks predict a stronger lira We’ve introduced a situation on the Turkish Lira that is one of the strongest currencies today. What’s extra, some banks are trying favourably on the foreign money and so they predict that the upward transfer might proceed. Credit score Suisse lowered its Three-month USD/TRY goal to…

  • China helps the financial system with tax cuts

    April 20, 2017

    China helps the financial system with tax cuts China is reducing taxes this 12 months by 380 billion yuan ($55 billion) in efforts to encourage spending and increase development. The worth-added tax system can be decreased from 4 brackets to a few, and the tax fee for merchandise together with pure…

  • Lira shrugs off referendum considerations as confidence rises

    April 20, 2017

    Lira shrugs off referendum considerations as confidence rises Our take forward of the Turkish referendum was "sure" win might show TRY optimistic as traders might see it as affirmation of one thing that had been seen as sure to occur anyway. It seems to be like that is precisely the…

  • US rig rely retains rising; is oil market ripe for a correction?

    April 14, 2017

    US rig rely retains rising; is oil market ripe for a correction? Oil market is closed at this time, however for future reference and for the sake of completeness we give You the final piece of reports about US oil provide plus a chart evaluation for WTI. Baker Hughes report…

  • Chinese language month-to-month new loans exceeded 1 trn CNY once more

    April 14, 2017

    Chinese language month-to-month new loans exceeded 1 trn CNY once more China has launched its knowledge on financial aggregates together with the data on creation of recent credit score within the economic system. This report is paid a lot consideration to as a result of efforts of the Chinese language authorities, together…

  • RBC on the Financial institution of Canada

    April 13, 2017

    RBC on the Financial institution of Canada RBC Economics explains that markets have been ready for the Financial institution to depart the in a single day charge at zero.5% in its newest meet nonetheless they have been much less sure about how they'd characterize the outlook. Ever cautious, policymakers highlighted…

  • Saturday could possibly be an necessary day for monetary markets

    April 13, 2017

    Saturday could possibly be an necessary day for monetary markets The state of affairs within the North Korea is well-known everywhere in the world, however latest developments have gotten increasingly worrying for the monetary markets. With upcoming necessary vacation within the nation that's due Saturday, some fascinating occasions might seem. …

  • European equities didn’t purchase the constructive information

    April 13, 2017

    European equities didn’t purchase the constructive information Have been it not for the geopolitics we may see a pleasant rebound on equities in the present day. The markets noticed: (1) the feedback from Donald Trump that China is to not be named a foreign money manipulator - doing so can…

  • Trump tweets on N. Korea and China 

    April 11, 2017

    Trump tweets on N. Korea and China  Donald Trump, the US president, has fired of a few tweets in current minutes which may have additional reaching implications with the nation’s relationship with the Far East. The primary tweet learn: "I defined to the President of China commerce cope with the…

  • China down on regulation, Aussie will get higher knowledge

    April 11, 2017

    China down on regulation, Aussie will get higher knowledge Wanting again on the Asian session on Tuesday, essentially the most placing phenom is a decline on the fairness markets in China. Whereas the mainland markets had been in a position to restrict the ache, Hong Kong noticed a slide of…

  • Oil nonetheless on the rise

    April 6, 2017

    Oil nonetheless on the rise The oil market retains shifting greater regardless of the continued rebound in US crude output and not much more OPEC can do by itself to make the market rebalance faster. The WTI worth rebounded from the trendline yesterday night successfully confirming it now as a decrease certain.…

  • US jobless claims fall decrease

    April 6, 2017

    US jobless claims fall decrease The primary financial launch of the afternoon has seen the US initial jobless claims fall to 234k for the last week. This print was beneath each the anticipated and the prior and serves as an extra signal of energy within the US labour market. The…

  • Eurozone wage information not suggestive of rising inflation

    April 6, 2017

    Eurozone wage information not suggestive of rising inflation Probably the most fascinating takeaways from the release of the ECB minutes was the next passage: "It was underlined that the projected enhance in HICP inflation excluding meals and vitality, from the present degree of zero.9% to 1.eight% in 2019, was based mostly on…

  • Bannon Eliminated From Nationwide Safety Position 

    April 5, 2017

    Bannon Eliminated From Nationwide Safety Position  Steve Bannon has been faraway from the Nationwide Safety Council in a shakeup introduced this afternoon. Bannon is US president Trump’s chief White Home advisor and his elimination from this submit comes nearly as unexpectedly as his appointment. On the 29th January a number…

  • ADP employment change: 263okay

    April 5, 2017

    ADP employment change: 263okay ADP employment change: Consensus: 184okay Prior: 245okay (revised decrease from 298okay)  

  • Awaiting the fireworks 

    April 5, 2017

    Awaiting the fireworks  Wednesday was anticipated to be probably the most attention-grabbing classes this week. Nevertheless, as for now the volatility is way from yesterday’s ranges. This might change in subsequent few hours as some essential information is printed, with the FOMC minutes as an icing on the cake. A…

  • DAX barely decrease, pushed by the US occasions

    April 5, 2017

    DAX barely decrease, pushed by the US occasions Inventory markets in Europe hovered across the flatline on Wednesday morning with traders eyeing recent financial knowledge and renewed guarantees on monetary regulation from U.S. President Donald Trump. The largest losses had been seen within the auto sector. Auto shares led the falls in early…

  • France braces for the second TV debate

    April 4, 2017

    France braces for the second TV debate Presidential elections in France are approaching quick. The primary spherical has been scheduled for 23 April but the markets appear to be suspiciously calm regardless of a threat of Marine Le Pen win that would destabilize the entire EU and even put its…

  • EMU: stronger gross sales may help EUR

    April 4, 2017

    EMU: stronger gross sales may help EUR The principle report from Europe right this moment got here stronger than anticipated with displaying a rise in retail gross sales of Zero.7% m/m, above the consensus at Zero.5%. What's extra, a studying for January has been revised upwards from -Zero.1% to +Zero.1%…

  • US inflation continues to rise

    March 31, 2017

    US inflation continues to rise This afternoon noticed the discharge of the latest US core PCE price index - an financial launch that's held in excessive regard amongst Fed members as an inflation metric. The month on month enhance of zero.2% was inline with consensus estimates and has contributed to the…

  • Canadian economic system sees choose up in development

    March 31, 2017

    Canadian economic system sees choose up in development On per week that has been dominated by GDP prints from an economic release point of view, the last has seen a better than expected reading from Canada. A 0.6% increase month on month was above both the consensus forecast of 0.3% and…

  • US Core PCE Value Index M/M: zero.2%

    March 31, 2017

    US Core PCE Value Index M/M: zero.2% US core pce value index m/m: zero.2% Consensus: zero.2% Prior: zero.three% Private Spending m/m: zero.1% Consensus: zero.2% Prior: zero.2% Private revenue m/m: zero.four% Consensus: zero.four% Prior: zero.four%  

  • NAFTA revamp – robust or average?

    March 31, 2017

    NAFTA revamp - robust or average? Yesterday a information broke out within the US press that the North American Free Commerce Settlement (NAFTA) revision, which was talked about within the first govt order signed by Donald Trump when he got here to White Home, could be solely about average adjustments. This kept…

  • ECB’s core difficulty

    March 31, 2017

    ECB’s core difficulty The principle launch to date as we speak was the preliminary inflation from the Eurozone. The March Eurozone inflation estimate is 1.5% YoY vs 2.zero% for February. The March inflation print reveals why the ECB most well-liked to disregard the surging headline inflation even though the goal is…

  • Quiet buying and selling in Europe on the ultimate day of Q1

    March 31, 2017

    Quiet buying and selling in Europe on the ultimate day of Q1 The strikes of main European inventory indices are comparatively small as we speak. The present releases like Chinese PMIs and Eurozone inflation more less warranting dovish rhetoric from ECB for a while now and the precise voices from…

  • French inflation refuses to decelerate in March

    March 31, 2017

    French inflation refuses to decelerate in March The preliminary readings of March inflation from Eurozone member states have been the most important headlines fx market-wise yesterday. In case of Spain and Germany the principle year-on-year inflation measure decelerated by zero.7 share factors. In relation to France there was no such deceleration…

  • Good knowledge to construct constructive sentiment on, however what a couple of danger of commerce struggle?

    March 31, 2017

    Good knowledge to construct constructive sentiment on, however what a couple of danger of commerce struggle? The Asian session has introduced us some good macroeconomic releases that ought to raise traders’ spirits within the closing day of 1Q. In fact the ’window dressing’ flows may trigger some uneven buying and selling.…

  • Banxico anticipated to lift charges in the present day

    March 30, 2017

    Banxico anticipated to lift charges in the present day The central financial institution of Mexico is holding a financial coverage assembly in the present day with the choice coming at eight pm DST. We've got described the market sentiment forward of the occasion HERE, and the final remark from the…

  • CBO: Debt and deficit to blow up in subsequent 30 years

    March 30, 2017

    CBO: Debt and deficit to blow up in subsequent 30 years The Congressional Price range Workplace (CBO) have launched new projections immediately which present that authorities debt and funds deficits are each set to spiral increased within the coming three a long time if present patterns maintain.  Federal debt will…

  • Mester (Fed)

    March 30, 2017

    Mester (Fed) Fed member Lorreta Mester has been on the wires in latest moments with some attention-grabbing feedback on the economic system and financial coverage: Additional hikes will probably be wanted Sees development considerably above 2.zero% over the following 12 months Helps additional hikes however not at every assembly Financial…

  • DAX continues to be edging larger

    March 30, 2017

    DAX continues to be edging larger DAX continued to edge larger after the breakout above  the closest resistance space round 12180. Bullish development stays intact. The bullish momentum has barely weakened, one ought to look for a possibility to hitch the bullish development with a brand new larger low. There have…

  • USDJPY with a bullish potential

    March 30, 2017

    USDJPY with a bullish potential We’ve pointed out that USDJPY has damaged above the closest help round 110.7 which has been additionally re-tested. A brand new larger excessive has been established and value has turned decrease. There's a chance of a brand new larger low on the chart. We see a…

  • Inflation in Spain shocked to the draw back

    March 30, 2017

    Inflation in Spain shocked to the draw back Spanish inflation has slowed down for the primary time in a yr. It’s the primary sign of a possible broader slowdown amongst euro-area nations. German inflation is in focus it's forecasted to decelerate as properly. CPI in March got here in at…

  • Brexit minister speaks on TV

    March 30, 2017

    Brexit minister speaks on TV UK Brexit minister Davis speaks in TV, he can even converse in BBC radio later at present. He’s mentioned that the period of big sums being paid to the EU is coming to an finish, Extra from Davis: we’re not anticipating to need to pay something…

  • Extra information from the ECB

    March 30, 2017

    Extra information from the ECB Supposedly, the ECB wanted to communicate lowered tail danger not step to the exit and March message was ’approach overinterpreted’. EUR has quickly dropped on the rumours breaking under the closest help space.  ECB Government Board Member, Yves Mersch spoke in Frankfurt. He stated that when performing…

  • Poloz (BoC)

    March 28, 2017

    Poloz (BoC) Stephen Poloz, the Governor of the Financial institution of Canada has been on the wires this afternoon. The next are chosen feedback made by Poloz: Elevating charges too early would trigger a recession Dangers recognized within the final Financial Coverage Overview stay on the desk Regardless of these…

  • Ryan press convention

    March 28, 2017

    Ryan press convention Home speaker Paul Ryan and different members of the GOP have simply begun a press convention on the White Home. Chosen feedback are proven under: Republicans are dedicated to tax reforms  No set interval for Obamacare repeal as we should get it proper On Friday the votes…

  • Maechler (SNB) denies export enchancment, CHF nonetheless a protected haven

    March 23, 2017

    Maechler (SNB) denies export enchancment, CHF nonetheless a protected haven We had Andrea Maechler from Swiss Nationwide Financial institution on the newswires as we speak with the same old declare that the franc i closely overvalued and the political uncertainty (specifically Brexit, French elections, US coverage) nonetheless dominates and gained’t…

  • Delay within the US healthcare invoice vote makes markets nervous

    March 23, 2017

    Delay within the US healthcare invoice vote makes markets nervous The primary theme of the day is the US House vote on changes to Obamacare. That's: there was alleged to be a vote, however evidently Republican leaders and Donald Trump failed thus far to safe a majority within the Home.…

  • Banxico head and CPI trigger loads of volatility

    March 23, 2017

    Banxico head and CPI trigger loads of volatility Agustin Carstens, the governor of the Mexican central financial institution has been an enormous supply of MXN volatility right now. His touch upon inflation spike being momentary, method earlier than the American session began, was interpreted as dovish - signaling reluctance to lift…

  • Williams (Fed) about 3+ rate hikes this year

    March 23, 2017

    Williams (Fed) about 3+ rate hikes this year An interview with Fed’s John Williams has been revealed within the Wall Road Journal. What he says is the median-FOMC member view of three charge hikes in 2017, however signaling some tilt in the direction of doing extra (’three and even perhaps extra’).…

  • US fiscal agenda at risk – risk aversion mounts

    March 21, 2017

    US fiscal agenda at risk - risk aversion mounts The vision of fiscal stimulus (via personal and corporate tax cuts, infrastructure boom, deregulation) was what pushed Wall Street higher and higher since the US elections. Suddenly the markets no longer take the implementation of this fiscal agenda for granted. The first serious reality…

  • Varying reaction of industrial metals

    March 21, 2017

    Varying reaction of industrial metals The poor overall sentiment should have a negative effect on all industrial metals today. After all a risk that the US won’t deliver the promised stimulus is a serious issue for global demand and could derail the recovery which is in case of many countries…

  • European equities waited until afternoon to celebrate lower French political risk

    March 21, 2017

      European equities waited until afternoon to celebrate lower French political risk Despite the EUR- and equity-positive result of the first TV debate among candidates forr the French presidency there was no positive momentum on main European stock exchanges in the morning. They are trying to catch up now. France…

  • Great Britain will trigger article 50

    March 14, 2017

    he two chambers of the British Parliament agreed during the night on a common wording of the Brexit bill which means that the final hurdle is passed and once the formal Royal Assent is granted, the Prime Minister can call Brexit whenever she wants. House of Commons overturned some ammendments…

  • Chinese inflation

    China inflation data mixed

    March 9, 2017

    Inflationary readings from China were the key point of the Asian session. Both PPI and CPI for February were released and there is a significant divergence between two readings. It’s interesting in the context of Lunar New Year celebration. CPI has dramatically decelerated to 0.8% y/y with expectations at 1.7&%…

  • ecb, draghi, euro, interest rates

    ECB decision upcoming

    March 9, 2017

    According to Barclays, the ECB is likely to note that risks to its outlook are more balanced but also remain committed to significant monetary easing, which should keep the EUR under pressure. The January meeting minutes noted that despite the ongoing pickup in headline inflation, members of the governing council…

  • WTI falls 5% below $50/barrel

    March 9, 2017

    WTI Oil has fallen sharply after yesterday’s DOE inventory release showed a ninth consecutive weekly build. Despite the efforts of both OPEC and non-OPEC countries to curb production, the supply glut for crude is seemingly persisting. With prices breaking below major prior support at 49.88 there may be further declines…

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