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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…