Gold Falls to 7 Month Low As Dollar Firms on Rate Outlook

Gold sank to its lowest levels since December 11th of 2017 in early trading on Thursday. The yellow metal has been pressured by the hawkish stance of the Federal Reserve, a strong US dollar and a robust U.S. economy. On Tuesday the Trump administration announced a list of tariffs of 10 percent on $200 billion … Read more

USD/JPY Rallies to 6 Month Highs on Strong Inflation Data

The U.S. dollar continued to strengthen against the Japanese yen in early trading on Thursday, reaching fresh six month highs. On Wednesday USD/JPY rallied above the key psychological level of 112 for the first time since January 10th. USD/JPY was boosted by Wednesday’s better than expected U.S. inflation data, increasing the probability that the Federal … Read more

Bitcoin Hovers at Recent Lows Amid Tax Related Selling

Bitcoin prices fell below $7,000 on Monday ahead of the looming April 17th U.S. tax-filing deadline. Analysts speculate that U.S. households likely owe billions of dollars in capital gains taxes for their cryptocurrency holdings and that investors are selling in order to meet their tax liabilities. Bitcoin prices have fallen more than 27% over the … Read more

CAD/CHF Bounces off 50% Retracement Level

The CAD/CHF cross reversed lower at the 50% retracement level of the recent downmove that began in January 2018. Stochastics are curved lower and poised to cross the 80 level, which would add to the bearish scenario for the pair. Price is trading under the 200 period simple moving average which lies close to the … Read more

EUR/USD Sits on Trendline Support Ahead of NFP

EUR/USD has drifted lower ahead of the US Employment Report, set to be released by¬†the Bureau of Labor Statistics on Friday at 8:30AM ET. Looking at the weekly chart above we can see that price has fallen to a well defined long term uptrend line. Wednesday’s data from ADP and Moody’s Analytics showed that companies¬†added … Read more