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Gold: Nervous Trading Around 1,400

Gold: Nervous Trading Around 1,400

Gold continues the impressive rally making fresh five year high at 1,411. USD weakness and an escalation in USA – Iran tensions around the Hormuz Straits boosts gold.  Short covering also helped for the gold to reach 1,411 a level that we haven’t seen since 2013. FED dovish minutes opened [...]
EURUSD: Short Term Bullish Picture

EURUSD: Short Term Bullish Picture

Euro is adding 0.09 percent to 1.1302 after a quiet Asian trading session as traders digest the FED decision and the dovish approach. Earlier today the pair got a lift from better than expected German figures. The German Markit PMI Composite index came at 52.6 beating analyst’s expectations of 52.5 [...]
Bitcoin: New Yearly High at 9,800

Bitcoin: New Yearly High at 9,800

Βitcoin (BTCUSD) continues higher for one more day breaking above the 9,500 mark at 9,800 making 2019 new high and retreated fast to 9,700.  The daily low for BTC was at 9,437 and the daily high at 9,800. Bitcoin capitalization jumped above 171 billion. The market capitalization of the top [...]
What will Drive FX Markets Today

What will Drive FX Markets Today

There are not any major events today in our calendar, earlier in Japan the IHS Markit Flash Manufacturing Purchasing Managers’ Index came in to 49.5 in June, from 49.8 in May worst than analyst’s expectations. An emergency meeting has been called for the morning with Japan’s Finance Ministry, the Financial [...]
USDMXN Hits Two Month Low

USDMXN Hits Two Month Low

USDMXN is giving 0.05 percent to 19.0097 having hit earlier today the low at 19.89 amid USD weakness across the board after FED changed its rhetoric to more dovish, opening the door to 2 or 3 interest rate cuts before the end of the year. Macro date from USA failed [...]
USDCAD Test 1.3150 and Rebounds

USDCAD Test 1.3150 and Rebounds,

USDCAD trades lower for one more today at 1.3191 as traders are dumping the US dollar after the dovish minutes from FED yesterday.  Loonie got an extra boost from WTI crude oil rally at $57 per barrel. In U.S. macro data, the initial jobless claims fell by 6,000 to 216,000 [...]
S&P at Fresh High

S&P at Fresh High

Wall Street extends gains for fourth day in a row as equities attract investor’s bids after FED removed the patience stance and open the doors for interest rate cuts as soon as July. Dow Jones is adding 0.71 percent to 26,690, the S&P 500 gain 0.59 percent to 2,943 while [...]
Crude oil Extend Gains Above $57

Crude oil Extend Gains Above $57

Crude oil continues the trip north adding more than $2 to $57.10 as the dollar denominated assets buying frenzy continues. Central bank easing from RBA, ECB and FED, along with an improved sentiment on US-China trade war, and an escalation in USA – Iran tension leads to stronger demand for [...]
European session, Overbought Levels

European session, Overbought Levels

USD weakness pushed many assets to overbought levels. Investors dump US dollar and buying dollar denominated instruments across the globe. 10year US Treasury yields hit the lowest level since 2017 as investors’ expectations for a Fed rate cut in July have increased. Here is a list of the instruments that [...]
Gold Hits 6 Year High

Gold Hits 6 Year High

Gold registers an impressive rally after it broke above the 1,357 yearly higher as bids were throwing like there is no tomorrow for the yellow metal. Short covering also helped for the gold to reach 1,394 a level that we haven’t seen since 2013. USD weakness is the catalyst for [...]