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  • Finance 0

    EUR/USD: Expected Bounce To Trend Line As Part Of Correction

    Yesterday’s Trading: On Thursday the euro/dollar was trading up and down. In the first half of the day the euro dropped to 1.1179 (under pressure from cross pairs), in the second it returned to 1.1227. The minutes from the last FOMC meeting showed that the US Fed could lift the interest rates in June if the data is there to back up such a decision. At the same time, according to the latest data from CME Group FedWatch, on Thursday the likelihood of an interest rate rise dropped from 38% to 30%. I reckon that this is to do with the fact what Fed reps Fischer and Dudley had to say. They announced that the Fed will raise rates on the basis of ...
    On May 20, 2016 / By
  • Finance 0

    Gold Slips On Fears Of Fed Rate Hike In June

    Gold prices extended losses on Thursday as a strong U.S. dollar abated investor appetite for the precious metal. The market has been under pressure since the minutes of the Federal Reserve’s last policy meeting stoked worries that the central bank could raise interest rates as soon as June. The XAU/USD pair fell as low as $1243.79 an ounce after the support in the $1258/6 zone was broken. As I pointed out in my previous analysis, the short-term technical outlook has shifted to the downside. The recent downswing may remain intact as long as the market trades below the Ichimoku cloud on the 4-hour time frame. However, I advise a bit of cautio...
    On May 20, 2016 / By
  • Finance 0

    We Are Raising Our Oil Target Again To 60 By July 4th

    The internals for the Weekly EIA Report were solid and we are raising our outlook for price accordingly when combined with the recent global supply disruptions in production. Video length: 00:17:42...
    On May 20, 2016 / By
  • Finance 0

    FTSE 100: Status Quo Maintained As 6054-6195 Range Dominates

    Yesterday, all of the FTSE 100 sectors ended lower, but the Basic Materials and Energy Sectors took the biggest hits as a hawkish Federal Reserve on Wednesday sent crude oil and metal prices lower. Today, crude oil prices have recuperated most of the losses inflicted on them over the last two days, and the same is true for metals such as copper. With a boost to commodities, the FTSE 100 (CFD: UK100) has managed to gap higher today and the move higher means that the 6054-6195 range remains intact; the range has kept the price in check over the last few weeks. However, at one point in yesterday’s session, price was below the low...
    On May 20, 2016 / By
  • Finance 0

    EU Bullet Report – Oil Close To $50, Volatility Is Back In Currencies

    ?The financial calendar is light today with FED rate expectations dominating the moves in the market overnight.Yesterday Fed’s Dudley said that the US economy could stand a rate rise in June or July, however he also said that the UK referendum poses a risk to the fed’s rate outlook. On the data front, UK CBI trends total orders is the only data to be released in European session. Canada will release retail sales and CPI later in the day. US will release existing home sales. Stocks: US equities closed lower overnight after the probability of a summer rate hike rose which is something not good for stocks overall as it makes the companies bo...
    On May 20, 2016 / By
  • Finance 0

    First Italy, Now Greek Banks Being Investigated For ‘Funding’ Politicians, Media

    With Trump going after billionaire-funded media in America, and Italy facing probes over its banking-system-controlled media, it is perhaps no surprise that yet another generally corrupt nation – Greece – is facing a parliamentary committee investigation into spuriously large ‘bank loans’ and highly-concentrated advertising spend made to various political parties and media groups in 2015. The Parliamentary Inquiry Commission decided on Wednesday to investigate the advertising expenditure of Greek banks to the media over a period of the last 10 years. Greece – is facing a parliamentary committee investigatio...
    On May 20, 2016 / By
  • Finance 0

    EC The Fed Minutes Are Noise

    Photo Credit: duncan c  It wasn’t my intent initially to compare the words of the FOMC with the scrawlings of a vandal, but ya know, some things are surprise fits. I wasn’t surprised to hear in the FOMC minutes that members of the committee thought: For these reasons, participants generally saw maintaining the target range for the federal funds rate at 1/4 to 1/2 percent at this meeting and continuing to assess developments carefully as consistent with setting policy in a data-dependent manner and as leaving open the possibility of an increase in the federal funds rate at the June FOMC meeting. and Participants agreed that their ongoing ...
    On May 20, 2016 / By
  • Finance 0

    G7: Japan And U.S. Differ On Currency Manipulation

    The G7 financial leaders will be meeting in Japan’s Sendai this weekend to discuss currency volatility and methods required in revitalizing leading economies. Differences in approaches are expected and investors will be watching for signs of tension between Japanese and U.S. powers. The two countries have sparred over the dollar-yen exchange rate in the months since the Japanese currency began a prolonged rise against the dollar. The yen has lost nearly 9% of its value relative to the dollar since the beginning of the year. Attending the meeting at the famous hot spring resort Sendai are financial leaders including US Treasury Secretary Jac...
    On May 20, 2016 / By
  • Finance 0

    Key Triangles Visible On 3 Major Forex Pairs

    EUR/USD 4 hour   The EUR/USD broke below the horizontal support (dotted blue) as the bearish channel maintains its momentum to the 100% Fibonacci level. Wave C corrections are typically equal to the length of wave A so a break below the 100% Fib target increases the likelihood of a potential wave 3. An ABC completion is confirmed once price manages to break above the channel. 1 hour   The EUR/USD seems to have completed a wave 5 (purple) within a wave 3 (grey). Price is most likely making a wave 4 (grey) retracement as long as price stays below the outer trend line (red). A break below the small support trend line (solid green) could spark ...
    On May 20, 2016 / By
  • Finance 0

    Bank ETFs Surge: Will The Momentum Last?

    Finally, the battered banking stocks found reasons to turn around. As soon as the April Fed minutes hinted at a June rate hike possibility, banking along with many other financial stocks rallied on May 18. The going was tough for bank stocks and ETFs for quite some time mainly due to the twin attacks of a delay in further Fed rate hike after a liftoff in December and the energy sector slump. But things are now falling in space for this woe-begotten sector. Hawkish Tone in Fed Minutes Citing plenty of positive drivers in the market, including a healing labor market, a bullish inflation outlook, strong retail, consumer sentiment and housing dat...
    On May 20, 2016 / By