Yesterday’s signals produced a very successful long trade following the bullish candle rejecting the support level at 1.2550. It would probably be an excellent idea to take profits now. Today’s GBP/USD Signals Risk 0.75% per trade. Trades must be entered before 5pm London time today only. Long Trades Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.2788 or 1.2739. Put the stop loss 1 pip below the local swing low. Move the stop loss to break even once the trade is 25 pips in profit. Take off 50% of the position as profit when the price reaches 25 pips in profit and leave the r...
No surprises in the final inflation read for the euro-zone in March. Headline inflation was confirmed at 1.5% and core CPI remains at the lower level of 0.7%. Core inflation stood at 0.9% for many long months and the drop to 0.7% is a setback. EUR/USD is ticking lower, trading at 1.0714. ECB President Mario Draghi will feel vindicated with his dovish stance, contradicting some of the more hawkish members at the Governing Council. A separate release showed that the trade balance surplus expanded to 19.2 billion euros, above 18.6 predicted. The euro-zone was expected to confirm that inflation cooled down in March. The initial flash figures sh...
UK Prime Minister May surprised the global investors and world policymakers by calling snap elections, precisely what the 2011 electoral law sought to prevent by fixing the date of elections. As recently as before the Easter break, May’s office denied the persistent speculation that she would (or should) maneuver for early elections. It is not an ethical or moral issue. It is pure pragmatic realism. The benefits of an election outweighed the costs and risks by a margin that could not be refused. Bold decisions are often those that achieve many objectives and this is not exception. The window opportunity may not have been open for very ...
One of the crazier things about the U.S. national debt is that it often takes a lot of months after the end of a given fiscal year for the U.S. Treasury to sort out who the U.S. federal government owes money, particularly when that money is owed to foreign entities. So here we are, just over halfway through the federal government’s 2017 fiscal year, before we have a good idea of how much U.S. government-issued debt was held by its major foreign creditors at the end of the U.S. government’s 2016 fiscal year, which ended on 30 September 2016! The following chart reveals who the biggest holders of the U.S. national debt were as of th...
Crude oil prices fell even as JODI data showed that exports from Saudi Arabia – a bellwether for OPEC – fell to the lowest level in almost two years in February. While that might have been expected to boost confidence in the cartel’s production cut scheme, investors seemed more concerned with signs that growing swing supply may offset coordinated output reduction. On that front, API reported that US inventories shed 840k barrels last week, less than the 1.03 million barrel drawdown expected to be reported in official EIA data due today. Prices may continue to move downward if that outcome registers closer to API’s projection. Com...
The list of asset prices that have completely reversed their post-election gains continues to expand. Last week, iron ore officially joined that list…and the sell-off continues apace. On Tuesday night, April 18th, Business Insider reported: “According to Metal Bulletin, the spot price for benchmark 62% fines fell 4.6% to $63.20 a dry tonne, extending its losses from the multi-year high of $94.86 a tonne struck on February 21 to 33.4%. It now sits at the lowest level since October 27 last year.” It was exactly in late October when iron ore broke out to a fresh multi-month high that led to a (very choppy) rally that did not end until F...
After opening the day on a flat note, share markets in India witnessed volatile trading activity and are trading on a flat note with a negative bias. Sectoral indices are trading on a mixed note with stocks in the realty sector and stocks in the power sector trading in green, while stocks in the IT sector are leading the losses. The BSE Sensex is trading down by 42 points (down 0.2%), and the NSE Nifty is trading down by 14 points (down 0.2%). Meanwhile, the BSE Mid Cap index is trading up by 0.6%, while the BSE Small Cap index is trading up by 0.5%. The rupee is trading at 64.50 to the US$. In news from stocks in the telecom...
Gold prices ended Tuesday’s session up $5.25 as weakness in U.S. and European equities a drop in the U.S. dollar lent some support to the precious metal. The XAU/USD pair initially headed towards the $1277.35-1276 area after the market dropped below $1281, but found support in the vicinity and tested the $1292 level. As the key levels are holding, gold is still stuck within the trading range of the past three days in Asian trade today. To the upside, there are hurdles such as 1292 and 1295. A break-out will attract new buying and will probably force shorts to cover their positions. A failure, however, will likely result in liquidations. If ...
Attempting to predict the outcome of an election is a fool’s errand — we don’t bother with it. But that doesn’t mean we can’t make money off the vote… Over the last few weeks we’ve discussed the reasons for the rise of populism and how it’s impacted the false trend in European equities. We explained how these Soros-style false moves are dependent on narrative “tests” that either strengthen the trend or reverse it. In Europe’s case, its narrative test is arriving in the form of French elections. This year’s elections are pivotal because the French are dangerously close to electing a populist, anti-euro candidate nam...
In an interview with FXStreet, we discussed everything related to the French presidential elections. The top political market mover of the year is watched with great tension by EUR/USD traders and could have a long-lasting impact on the common currency and the European Union. You can read the interview at its original publication here or below: How low can the EUR/USD go if Marine Le Pen wins the French election? A victory for Marine Le Pen has very small chances but could have grave consequences for the euro. The mere idea of France leaving the single currency could set the snowball rolling and turn into an avalanche. Even if French vote...