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Bitcoin price analysis: BTC/USD creeping to $9,000 ahead of European opening despite aggressive rhetoric from FED governor Tanya Abrosimova

The current San Francisco Fed President and the nominee to the post of New York Federal Reserve governor John Williams believes that Bitcoin is useless as a currency, echoing the position of FED governors and regulators all over the world. Cryptocurrencies will not replace fiat money as they are too volatile to function as a  true means of pa...

10:46 23 April /2018 Forex

US Dollar extends the upside to 90.40, focus on US data Pablo Piovano

The US Dollar Index (DXY), which gauges the buck vs. a basket of its main competitors is looking to add to recent gains while keeping the trade above the critical 90.00 mark at the same time.US Dollar focused on yields, dataThe index is prolonging the upbeat mood at the beginning of the week after f...

10:46 23 April /2018 Forex

EUR futures: bearish mood prevails Pablo Piovano

According to advanced figures for EUR futures markets from CME Group, investors scaled back their open interest positions by almost 3.8K contracts on Friday from Thursday’s 508,084 contracts. On the other hand, volume rose by nearly 22K contracts.EUR/USD focused now on 1.2165/5510:00 23 April /2018 Forex

EUR/USD losing the grips around 1.2270 ahead of PMIs Pablo Piovano

After advancing to the boundaries of 1.2300 the figure in early trade, EUR/USD lost some upside traction and is now flirting with the area of session lows in the 1.2270/65 band.EUR/USD looks to PMIs and US yieldsSpot is losing ground for the third session in a row so...

09:23 23 April /2018 Forex

USD/JPY grinding for 108.00 to kick off the new week Joshua Gibson

The US Dollar is trading on the high side against the Yen to kick off the new week, and the USD/JPY pair is sticking close to Friday's highs near 107.80.The USD/JPY has been climbing steadily since reaching a bottom in late March near 104.60, and the Greenback continues to climb again...

08:46 23 April /2018 Forex

UAE OilMin Al Mazrouei: oil market is still in process of rebalancing Dhwani Mehta

Reuters reports comments from the UAE oil minister Suhail Mohamed Al Mazrouei as saying that the oil market is still in process of rebalancing.He further added that the oil producers committee needs to do technical work looking at the right level of inventories.Last Friday, Al Mazrouei noted: “OPEC members and non-OPEC producers...

08:23 23 April /2018 Forex

USD/JPY: Head and shoulders bottom pattern? - BBH Sandeep Kanihama

Analysts at BBH explain that the dollar finished last week at its best level against JPY since February 21 (~JPY107.65) and that they continue to monitor a head and shoulders bottom pattern. Key Quotes“The break of the trendline did not spur the kind of impulsive move that technicians often like to see on the violation of the neckline.  Nevertheless, the firmer greenback tone is e...

08:23 23 April /2018 Forex

Forex Today: USD regains poise in Asia, EZ PMIs in focus Dhwani Mehta

The US dollar set off to a positive start to this week, after the bulls regained poise against most of the majors in the Asian session. The renewed broad-based US dollar strength was mainly driven by the ongoing rally in the US Treasury yields, especially the 10-year rates.The Yen emerged the biggest loser versus the greenback while Cable was the strongest, despite mixed performance seen on the As...

08:23 23 April /2018 Forex

USD/JPY making headways to 109 handle - Nomura Dhwani Mehta

Analysts at Nomura see the USD/JPY pair heading for a test of the 109 handle in the coming days, as the Japanese life insurers find the yields on the US corporate and mortgage debt more attractive.Key Quotes:“Estimates a large part of life insurers' purchases of foreign 07:23 23 April /2018 Forex

Is EUR/USD eyeing a downside break of 1.2150-1.2550 range? Omkar Godbole

The EUR/USD risks a downside break of the 1.2150-1.2550 trading range, courtesy of the widening US-German yield spread.As of writing, the difference or the spread between the 10-year US-German yield stands at 238.8 basis points (bps) - the highest level since 1989. Meanwhile, the pair is trading at 1.2272, having clocked a low of 1.2249 on...

07:23 23 April /2018 Forex

Oil on the high side, WTI looking for more at 68.20 Joshua Gibson

WTI crude is trading steadily near 68.20 after going flat for Friday's action as oil continues to fall victim to ongoing geopolitical tensions amidst the ongoing tug-of-war between OPEC's production-cutting measures and the US' supply glut.Crude oil reached a fresh three-year high last week near 69.50, and oil looks set to finall...

06:46 23 April /2018 Forex

Bitcoin price analysis: BTC/USD back below at $9,000 after Friday's rally; bulls are not discouraged Tanya Abrosimova

Bitcoin movements are subdued during early Asian hours on Monday. The price tested area above pivotal $9,000 during the weekend, but the breakout proved to be short-lived. BTC/USD is trading at $8,800 with mild upward bias on intraday charts.Bitcoin had the first back-to-back green week in 2018 with cumulative gains over 28%. This rally he...

06:23 23 April /2018 Forex

AUD/NZD poised to fall further if bulls can't snag the 1.07 handle Joshua Gibson

The AUD/NZD is pushing upwards in early Monday action, testing near 1.0640 after closing a bearish week-opening gap into 1.0615.The Aussie managed to recover somewhat against the Kiwi last week, driven largely by a recent souring of macro data for the New Zealand economy that has left the NZD exposed to downside pressure, and the pair is currently holding ground near April's highs, despite being a...

05:23 23 April /2018 Forex

Gold hits 12-day low, risk reversals retrace bullish bias Omkar Godbole

Gold turned lower from the high of $1,355.72 on April 18 and fell to $1,331 today - the lowest level since April 10.The repeated bull pattern failure has opened the doors for a deeper pullback, the daily chart indicates. Further, the rising Treasury yields complicate matters for the XAU bulls.Hence, it is not surprising to see risk reversal...

05:00 23 April /2018 Forex

USD/JPY: testing the neckline for space on 108 handle Ross J Burland

USD/JPY started out on the offer following Wall Street's decline and a Nikkei that turned sour after the open today. USD/JPY is currently trading at 107.81 with a high of 107.89 and a low of 107.65.USD/JPY had, however, been relatively robust on Friday despite the sell-off in equities. The pair managed to hold in positive territory while ...

04:46 23 April /2018 Forex

EUR/JPY trying to stay upright ahead of EU PMIs Joshua Gibson

The EUR/JPY is falling in early Monday trading, dropping into 132.25 after lifting into 132.45 to start the week.The pair is recoiling as the Yen continues to climb, spurred on by Japanese Manufacturing PMIs dropped on markets at 53.3, over and above the previous reading of 53.1 and an upside beat to the forecasted contraction of 52.6.Adding to the EUR's plate for Monday will be a range of data th...

04:46 23 April /2018 Forex

AUD/JPY positioned to decline further as Aussie suffers in the markets Joshua Gibson

The AUD/JPY is looking for some room to move in early Monday trading, pushing into 82.65.The pair ended last week on a low note near 82.45 as the Aussie crumpled against the Yen on souring macro data and a dovish Reserve Bank of Australia (RBA), juxtaposed against a relatively well-performing Yen last week.Monday is a quiet aff...

03:46 23 April /2018 Forex

The week ahead: a busy schedule in Japan, EU and USA - Nomura Ross J Burland

Analysts at Nomura offered their outlook for the week ahead.Key Quotes:United States | Data previewThe BEA is likely to report a temporarily soft 1.6% q-o-q saar print for Q1 real GDP growth but we expect an acceleration in coming quarters.Existing home sales (Monday): We forecast a 2.7% m-o-m decline in exi...

03:23 23 April /2018 Forex

EUR/USD: bearish or bullish? - BBH Ross J Burland

Analysts at Brown Brothers Harriman explained that after testing the upper end of the trading range (~$1.24) several times without success, the euro backed off.  Key Quotes:"It slipped to a two-week low near $1.2250 ahead of the weekend.  The rising short-term interest rate differential means that it is increasingly expensive to hold euros without offsetting appreciation. Still, t...

02:46 23 April /2018 Forex

Key events ahead? - Westpac Ross J Burland

Analysts at Westpac noted the key events ahead to start the week.Key Quotes:"Australian calendar is light ahead of Q1 CPI on Tuesday.""In Asia, we will see Singapore March CPI, with market interest blunted by the fact that the MAS doesn't review policy again until October.""Preliminary April business surveys (purchasing managers indexes, PMIs) are released for Japan, the Eurozone ...

02:23 23 April /2018 Forex