• 13/8/2013 - The Current Market Sentiment

    August 13 2013 8:33 AM

    The release of Q2 GDP of Japan could contain the current market sentiment to encourage the traders to wait for a bottom again of USDJPY to restart buying it. USDJPY has broken its previous resistance at 96.95 easily by the Japanese session. After inability of the Japanese yen to press on the greenback to get down below 96 several times recently.

  • The US$ Outperforms Gold, Silver and the HUI so far in 2013

    August 13 2013 8:21 AM

    The chart below paints a sorry picture for precious bugs with the US dollar just managing to stay in positive territory as losses mount for gold, silver and the mining sector. In broad terms the US Dollar is up 2%, Gold is down 22%, Silver is down 32% and the miners represented here by the HUI are down 45%. All stomach churning stuff for perma bulls as the mining sector now has to generate gains of around 100% in order to get back to where they were at the start of the year. This is not impossible but it will take a monumental effort to achieve such a recovery.

  • 3 Reasons to Fear the Fall

    August 12 2013 11:37 AM

    I generally shy away from making time-specific economic and stock market predictions simply because they are extremely difficult to accurately pinpoint. During 2006 I warned about a coming real estate collapse that would cause a severe recession in 2007. Back in January of 2009, I urged investors to start buying the stock market because I felt the majority of the selling was behind us. In general, making such predictions is a dangerous game and should be avoided in most cases because odds are very low you’ll be correct on both the prediction and the timing.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    August 09 2013 12:50 PM

    USD rebounded against most major currencies despite a fall in wholesale data - EUR weakened but trades near 2-month highs - Commodity currencies ended higher after a second day of upbeat Chinese data

  • Second Half Recovery Predictions Fail Again

    August 09 2013 10:37 AM

    Each of the last five years Wall Street pundits have predicted, and our government has promised, that a second half recovery in the economy will occur. Since 2009, they have come up with different reasons why GDP would boom in Q3 & Q4 of that year; and that this time a different and better outcome is in store. This year, the reason we are supposed to believe in a second half recovery is because the damage from the Sequester cuts will wear off starting in…drum roll…July.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    August 08 2013 12:43 PM

    USD broadly weakened as uncertainty over tapering lingers - EUR strengthened on better-than-expected German industrial output data - AUD surged on encouraging Chinese trade data

  • Bitcoin Officially Money In US, And Rising In Popularity In Asia

    August 07 2013 2:03 PM

    A Texas judge ruled that Bitcoin is a currency in a case involving a Ponzi scheme.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    August 07 2013 1:17 PM

    USD broadly weakens with the exception of the CAD and MXN - GBP surges after hawkish comments from Carney - JPY strengthens against most majors ahead of a BoJ announcement tommorow

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    August 06 2013 12:17 PM

    USD is mixed as US trade deficit narrowed - EUR and GBP rallied after better-than-expected factory orders and manufacturing output - Commodity currencies are slightly higher despite an aussie rate cut this morning

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB

    August 05 2013 1:06 PM

    US Q2 GDP growth 1.7%; unemployment dropped from 7.5% to 7.4% - UK services displays fastest growth pace in 6 years - Aussie at three-year lows on negative retail sales figures

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    August 01 2013 12:31 PM

    USD rallied after better-than-expected US economic data - EUR fell sharply against USD after dovish comments from ECB President Draghi - Commodity currencies weakened despite higher US equities and oil prices

  • The Fed has no problem in keeping the QE at 85$b monthly

    August 01 2013 7:44 AM

    The Fed has signaled yesterday that there are less worries about keeping the QE on with no cutting of it amid benign inflation pressure with its yearly rate is still below 2.5% which can push the fed forward to start cutting it and also with the unemployment rate is still well above the 6.5% which it is still repeating as a target of it with no revision.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    July 31 2013 12:52 PM

    USD broadly stronger as Q2 GDP growth beats expectations - EUR steady as Eurozone CPI data meets expectations - Commodity currencies are lower after dovish comments from RBA governor Glenn Stevens

  • Is Europe Ready to Take Off?

    July 30 2013 5:49 PM

    One year ago, European Central Bank President Mario Draghi announced that the central bank had the political will to do “whatever it takes” to save the euro. Now, the worst may be over, as suggested by stronger economic data coming out of Europe. It appears the Continent is finally on the road to a sustained recovery.

  • Bank of England meeting preview: Deciphering Mark Carney

    July 30 2013 1:56 PM

    On Thursday 1st August at 1200 BST/ 0700 ET the Bank of England will announce its latest policy decision, the second one under the stewardship of new Governor Mark Carney. The market expects no change in interest rates or in the bank’s asset purchases. Currently the market is only pricing in 5 basis points of cuts for this week.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    July 30 2013 12:54 PM

    USD pushed higher ahead of the Fed’s two-day meeting next week - EUR and Sterling held close to current ranges ahead of ECB and BoE meetings - Commodity currencies mixed on dovish RBA comments

  • Bitcoin Banned In Thailand

    July 30 2013 9:18 AM

    The popular virtual currency has encountered its first major stumbling block.

  • India's RBI Holds Rates Steady, Lowers GDP Estimate

    July 30 2013 2:29 AM

    India's central bank expressed concerns about a slow global recovery and the impact of the Federal Reserve winding down its stimulus program.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    July 29 2013 1:18 PM

    US calendar heavy this week with important data releases - JPY strengthens as Nikkei plunges 3.3% - Canadian dollar up as crude oil remains above $100 per barrel

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    July 26 2013 1:47 PM

    USD is broadly lower ahead of the Fed’s two-day meeting next week - JPY surges on better-than-expected national CPI data - Commodity currencies are flat but remain under pressure as oil prices weaken