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Don't be too bearish on the dollar - ANZ

Analysts at Westpac explained that the USD continues to be left in the doldrums as markets look for fresh direction from the new US President. Key Quotes:"Traction post- inauguration has been poor (and saw the NZD soar to close to 0.7275 overnight), but as we note below, at face value, Trump’s bold plans suggest some caution would be warranted for those getting too bearish on the ...

02:00 25 January /2017 Forex

Gold saved around 200 SMA; sellers targeting 1200 handle Jose Ricaurte Jaen

Currently, Gold is trading at 1209.42, down -0.72% on the day, having posted a daily high at 1220.26 and low at 1206.73.Today's $14.00 pullback in Gold, according to market sources is due to 'profit taking.' Investors and traders around the world had to work around two notable risk-events; the UK's Supreme Court ruling against the UK ...

01:23 25 January /2017 Forex

WTI remains on the offer with API build, testing 55 4 hr sma at 52.16 Ross J Burland

Oil dropped overnight on an impressive run for the bears, taking the price down from the 52.80 level and lows of 52.13 were scored after the API data as well.The greenback has rallied across the board on the back of his pro business plans taking some traction overnight when he started signing off the controversial Keystone and Dakota pipelines. While we await the official oil stock data in the US ...

01:23 25 January /2017 Forex

Wall Street in the green on better earnings and Trump-pro-business-traction

Wall Street reversed on Tuesday as markets see some conviction coming through from Trump on his third business day in office and on the back of that along with fresh corporate earnings, the S&P 500 and Nasdaq were setting record highs.US President Trump: if the pipelines...

00:46 25 January /2017 Forex

Scotland closer to a 2nd referendum; Edinburgh has 'no legal' right to challenge Brexit: BBG Jose Ricaurte Jaen

Bloomberg reported that Scottish First Minister Nicola Sturgeon, in a statement reacting to Tuesday’s ruling, said the British government’s promises to uphold a political convention to consult lawmakers in Scotland now were “not worth the paper they are written on.” She said it’s “becoming ever clearer” that Scotland must decide whether it should “take our future into our own hands.”“It is becomin...

00:00 25 January /2017 Forex

US Dollar Index recovers from 1-month lows and rises above 100.00 Matías Salord

The US dollar gained momentum during the American session and rose across the board as equity prices in Wall Street jumped and amid a decline in US bonds. The greenback turned positive against the yen, the euro and the Swiss franc. The US dollar index, that measures the USD against its mains competitors, bottomed earlier today at 99.83, the lowest since ...

23:46 24 January /2017 Forex

WTI down to test the 55 dma as greenback surges across the board Ross J Burland

WTI dropped sharply from the highs towards $53.00 on a day where Trump just revived the Keystone Pipeline that was previously stalled and put on ice by Obama.Donald Trump signed a document today clearing the way for the US government to rethink the pipeline and at the same time, Trump was also expediting the Dakota Access pipeline from North and South Dakota to Illinois. This is a positive for loc...

23:23 24 January /2017 Forex

USD/MXN bounces off lows around 21.42; Who cares more about NAFTA? Jose Ricaurte Jaen

Currently, USD/MXN is trading at 21.42, up +0.19% on the day, having posted a daily high at 21.45 and low at 21.25. The landscape changes at an incredible pace for the USD/MXN exotic, as the currency went from the imminent 23.00 risk to erase almost all gains collected in the last 3-weeks due to a severe shift in market sentiment towards the

23:23 24 January /2017 Forex

Canada Energy Min: Trump's Keystone XL order is subject to negotiations with TransCanada

Canadian Energy Minister Jim Carr is crossing the wires, via Reuters, stating that he had read Trump's executive order on Keystone XL, says it doesn't detail possible concessions.More headlines (via Reuters): 

22:46 24 January /2017 Forex

EUR/USD reverses from 1-month highs and prints fresh daily lows

A stronger US dollar across the board pushed EUR/USD to the downside. The pair fell to 1.0724, hitting a fresh daily low; a few hours ago it traded above 1.0770, at the strongest in a month. Near the end of the American session, EUR/USD remains near daily lows as equity prices in Wall Street accelerate to the upside. The Dow Jones was up 0.67% and the S&P 500...

22:46 24 January /2017 Forex

EUR/GBP: greenback leading the way down to test 0.8580

Currently, EUR/GBP is trading at 0.8580, down -0.13% on the day, having posted a daily high at 0.8654 and low at 0.8565.EUR/GBP is dropping back in a drift after the sell-off from 0.8651 and trades around the 0.8580 dual mark for support and resistance. The biggest news was that of more uncertainty around the EU and Brexit after the Supreme Court...

22:23 24 January /2017 Forex

USD/CAD: keeping eyes on trade, Keystone, and NAFTA-related headlines - Scotiabank

Analysts at Scotiabank noted key fundamentals around the Canadian dollar.US President Trump: if the pipelines are built in the USA, "they should use American steel"Key Quotes:"There are no domestic releases scheduled through the remainder of the...

21:23 24 January /2017 Forex

US: Existing Home Sales tumble in December, below consensus - Wells Fargo

Analysts from Wells Fargo, pointed out that existing home sales fell in December below consensus estimates. They noted that inventories fell to the lowest level on record. Key Quotes: “Existing home sales fell 2.8 percent in December to a 5.49 million-unit rate, which was below consensus estimates. Single-family and condos/condominiums were weak on the month. Inventories remain le...

21:23 24 January /2017 Forex

Brexit: UK still set to trigger Article 50 before end of March despite Court defeat - Danske Bank

According to analysts from Danske Bank, the United Kingdom is still set to trigger Article 50 (Brexit) before end of March despite the government’s defeat in Supreme Court.Key Quotes: “Parliament – not the government – has the power to invoke Article 50. UK government does not need to consult assemblies in Northern Ireland, Scotland and ...

21:23 24 January /2017 Forex

BoE's Salmon expects further flash crashes in core global markets - RTRS Felipe Erazo

Bank of England's Executive Director Chris Salmon was on the wires last minutes, via Reuters, saying he expects further flash crashes in core global markets.Key headlines (via Reuters):

21:23 24 January /2017 Forex

ECB's Lautenschläger: Monetary policy must get ready for better times Felipe Erazo

ECB's Executive Board Member Sabine Lautenschläger is crossing the wires, via Reuters, noting that all preconditions for a stable rise in inflation exist.Key headlines (via Reuters):

21:23 24 January /2017 Forex

Trade balance to start weakening - Nomura Ross J Burland

Analysts at Nomura explained that the Japanese trade balance is expected to start weakening.Key Quotes:"Consensus (Bloomberg) forecasts the seasonally adjusted trade balance scheduled overnight to decline to JPY209.9bn in December from JPY536.1bn the previous month. November’s surplus was the largest since April 2010, but the oil price recovery and the recent JPY weakness are like...

20:46 24 January /2017 Forex

GBP/USD erases early losses back above 1.2500; Article 50 on collision course Jose Ricaurte Jaen

Currently, GBP/USD is trading at 1.2533, marginally up +0.02% on the day, having posted a daily high at 1.2544 and low at 1.2417Today's delayed for PM May's plan has not changed the 'Article 50' outlook and March is when they expect to exit the 'Single Market'. The GBP/USD pair has been spinning 1...

20:46 24 January /2017 Forex

EUR/JPY on the bid through the 122 handle, onwards to 123.71/124.08?

Currently, EUR/JPY is trading at 122.03, up 0.40% on the day, having posted a daily high at 122.09 and low at 121.20.EUR/JPY has stepped up its game and has rallied from yesterday's lows from 120.50, breaking the 55 dma at 121.66 that gave way to the 122 handle before capped at aforementioned highs."We should now re focus on the top of the range ...

20:23 24 January /2017 Forex

Brexit: GBP/USD is on the back foot, but for how long? - Scotiabank Ross J Burland

Analysts at Scotiabank explained that Cable is weaker on the day but also shows little net change from NA opening levels Monday. Key Quotes:"UK public sector borrowing data was in line with expectations (GBP6.4bn for Dec) but the real focus for the session was on the UK Supreme Court’s Brexit decision.""As expected, the High Court’s ruling was upheld, meaning that the UK parliamen...

20:23 24 January /2017 Forex