Latest Updates

RBA Ready To Cut Again if Needed

RBA Ready To Cut Again if Needed

RBA governor, Philip Lowe speaking in Darwin, Australia after earlier today the Central Bank proceeds to 25 basis point interest rate cut. Philip Lowe believes that the recent interest rate cuts will help lower the unemployment rate and reduce spare capacity. The Bank will monitor how economic data evolve over [...]
GBPUSD At 9 Days Low After Worst Construction PMI

GBPUSD At 9 Day Low After Worst Construction PMI

United Kingdom Markit Construction PMI came in at 43.1 worst than analyst’s expectations of 49.2 for June, a decline that we haven’t seen since April 2009. GBPUSD was trading flat most of the day above but after the news moved sharply lower at 1.2610 a nine days low. The Brexit [...]
Bitcoin Pierces the 10,000 Mark

Bitcoin: Pierces the 10,000 Mark

Βitcoin (BTCUSD) continues south for one more day having lost over 30% the last days, and pierces the 10,000 mark as sellers took the short term control. The daily low for BTC was at 9,685 and the daily high at 10,658. Bitcoin capitalization shrunk below 177 billion while the market [...]
EURUSD: Higher Despite Mixed Data

EURUSD: Higher Despite Mixed Data

EURUSD trading slightly higher at 1.1296 after German Retail Sales shrunk, month over month, came in at -0.6 percent, worst than analyst’s forecasts of 0.5 percent in May, the year over year figure came in at 4%, beating forecasts of 2.7 percent in May.  The France Budget came in at [...]
Asian Indices Mixed, Nikkei Closes Higher on Cautious Trading

Asian Indices Mixed, Nikkei Closes Higher on Cautious Trading

Asian indices finished mixed today as traders digest the results of the much anticipated G20 in Osaka, Japan. The Hang Seng outperformed adding 1.31 percent higher at 28,907, the Shanghai composite slipped 0.03 percent to 3,043 and the Singapore Straits Times index finished 0.35 percent lower at 3,361. ASX 200 [...]
RBA Delivers the Cut, AUDUSD Steady

RBA Delivers the Cut, AUDUSD Steady

The Reserve Bank of Australia cut interest rates for the third month in a row to a historic low level of 1.0% at its monetary policy meeting, as market expected. It is the second time there have been consecutive interest rate cuts since 2012. Since November 2011 there have been [...]
Forex Markets: Eurozone May PPI in Focus

Forex Markets: Eurozone May PPI in Focus

Euro traders will start the day checking the Germany May retail sales data at 6:00GMT and later await the Eurozone May PPI figures at 9:00GMT. Pound traders await the UK June Nationwide house price index at 06:00GMT while next is the UK June construction PMI at 8:30GMT. Oil traders are [...]
USDTRY: Turkish Lira 2.61% Higher After Trump – Erdogan Meeting

USDTRY: Turkish Lira 2.61% Higher After Trump – Erdogan Meeting

The news from G20 meeting in Osaka helped Turkish lira after President Trump assured Turkish President Erdogan that would be no economic sanctions for Turkey’s purchase of Russian S-400 missiles. Traders have sold Turkish lira up to 6.18 after reports said the United States had plans for economic measures against [...]
Better ISM Data Boosts DXY

Better ISM Data Boosts DXY

The Institute for Supply Management's (ISM) Manufacturing PMI for June dropped to 51.7 from 52.1 in May but it is better than analyst’s forecasts of 51. The ISM Prices Paid came in at 47.9 below market consensus of 53 for June. It looks like the data can’t support a 50 [...]