Million Dollar Pips Review , Discount , Bonus Package

You might have run into additional Foreign exchangeForeign currency bots available on the internet just before. If that’s the situation, wagerI am sure the actual inventor distributed to the tale connected with exactly how he or she had been shattered, eager, unfortunate, sobbing, and so forth. After that, he or she satisfied somebody that were built with a Foreign exchange robotForeign exchange buying and selling program, which he “made the wager” he might enhance this, and whenso when he or she been successfulbeen effective, he or she can keep the actual automatic robot. Yes… it is a processed tale. It isn’t my personal tale.

 MILLION DOLLAR PIPS

I WANT YOUR HEART TO RUSH IN EXCITEMENT AS CASH FALLS IN YOUR HANDS !!!!!

 

I am likely to beI’ll be really, really directly together with you. I wasn’t therefore shattered which i had been lookingsearching being homelessbeing destitute hard after i chose to make this software program, however i had been each one of the subsequent issues, jerkjerk should you connect:

Therefore, We built my personal Foreign exchangeForeign currency revenue device inside a groundbreaking Completely new method, getting a entire lot of recent html coding, as well as do a couple of checks. The final results, absolutely no joking, produced my personal mouth area watery

 

 

 

Used to do numerous checks as well as want to demonstrate all of them.  These checks tend to be documents which are largetoo big provento become presented in this article, therefore make certain you type in your own e-mail deal with beneath which i may immediately e-mail a person my personal checks exhibiting the earnings Billion dollar Pips accomplished

 

According to Five years connected with screening utilizing top quality information, by getting an preliminary lower payment connected with $250, all of us finish track offinish up getting an amazing $10,821,556.Forty getting a maximum chance of Six.82% from the accounts!

Used to do numerous checks as well as want to demonstrate all of them. These checks tend to be documents which are largetoo big provento become presented in this article, therefore make certain you type in your own e-mail deal with beneath which i may immediately e-mail a person my personal checks exhibiting the earnings Billion dollar Pips accomplished !!!

 

WAIT THERE’S A 60 DAYS MONEY BACK GUARANTEE WHEN YOU ORDER WITH US…

NO QUESTION WILL BE ASKED …

YOUR DREAM ABS ARE ASKING YOU TO BRING THEM OUT !!!

WHAT ARE YOU WAITING FOR ???? GET THE MILLION DOLLAR PIPS NOW

 

 

 

How To Claim Your Bonuses??????????????????

Sure you are wondering how to get this cool Million dollar pips package right? Well worry no more, here are the simple steps you need to take:

Step #1 – Ensure That You Clear Your Cookies – this step is very vital to you receiving my bonuses. If you don’t clear your cookies, you risk buying through another affiliate’s link and miss out on my bonuses. If you don’t know how to clear your cookies, here’s a simple tutorial that explains everything >>==> click here to learn how to clear your cookies!

Step #2 – Buy Million Dollar Pips Through My Link! To be sure that you are buying through my link, here’s what you should do: When you are on the order page, scroll to the bottom of the page and check if you see [affiliate=kianleong7].

Step #3 – Send me an email with the title [Million Dollar Pips] to admin[@]milliondollarspips.net (remove square brackets) with the transactionID and I’ll take care of the rest!

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

APAC Currency Corner – The Aftermath

marketpulse

Aussie rate cut wrong-foots traders
The Aussie dollar was trounced in the wake of yesterday’s RBA unexpected 25 basis point rate cut. But it was more than just the rate cut that spooked traders.

Last week’s horrendous CPI print played a big part in the RBA’s decision, but Governor Stevens also sounded alarm bells about global conditions and even suggested that the domestic economy may be growing at a slower rate than anticipated. Once again the elephant in the room, China, was back on the radar.

The market was clearly wrong-footed with consensus running for no rate change among economists with opinions split among dealers.  The market was wrong in the days leading up the OCR and even pre-rate decision positioning which saw the Aussie fill the post-CPI and trade above 0.7700 way off the mark.

Major policy shift on the cards?
In the wake of yesterday’s rate cut and accompanying statement, we could be in the midst of a structural RBA monetary policy change. This could see the RBA’s focus shift to inflation away from the reliance on employment metrics. This change will likely open the door for future rate cuts to commence as early as August as the next quarterly CPI print in July could show declining inflation remains a significant issue.

The RBA has little option other than to let the exchange rate do the heavy lifting to get inflation back to the 2%-3% comfort band. It will likely take a depreciation of significant order to get back within that target band.

The dilemma for traders is, despite the RBA’s need for significant currency depreciation to realign inflation targets, recent central bank’s policy adjustments have failed to translate into significant currency depreciation. If we consider both Japan and New Zealand, it has done the exact opposite. With that in mind, battle lines will likely take shape to form around this notion as many view the recent Aussie dollar capitulation as temporary.

Oil adds to the woes
Adding to the Aussie negative vibes were across-the-board declines in commodity prices. Oil bears came alive on the first hint of inventory build-ups and concerns about global growth after China’s weaker-than-expected PMI prints this week. Oil inventory builds were driven home when the American Petroleum Institute reported a 1.3m barrel rise in weekly crude inventories. Also, there are more reports surfacing that Iran and Saudi Arabia are having issues agreeing on any long-term strategy for production freezes. The same scenario is playing out for iron ore, as price action remains heavy after stockpiles rise.040516fKiwi feels the crunch
The Kiwi was not immune to the commodity crunch after the Fonterra milk auction came in at -1.4% while futures projected a 7% increase. But the Kiwi has since recovered and shaken off the miss on the Global Dairy Auction after it was reported New Zealand employment rose 1.2%040516gYen – beware the Golden Week liquidity trap
Frenetic overnight markets saw the USDJPY trade into the 105 handle (105.52) only to spike to 107.50 shortly after the NY close. Besides the obvious Golden Week liquidity trap, if you are trying to make sense of a USDJPY rally while risk-off sentiment prevails in the market, then look no further than the massive short USD JPY position build-ups.  USDJPY short position is around $ 7.5bn, as per commitment of trader data. Given the proximity of what is potentially shaping up to be one of the most important NFPs this year, position adjustments should continue to dominate day trade for the remainder of the week. Another short squeeze on USDJPY could be probable given the current market positioning.

We’ve had the usual jawboning from BoJ Kuroda throughout the day but as usual, it’s having little impact on traders’ sentiment. Despite the chaotic interday swings, the Yen outlook has not changed. Given the November US presidential election will likely keep the Fed on hold until at least November and, unless BoJ Kuroda responds with some spectacular stimulus package, USDJPY will likely continue falling in the near term.040516hUSDCNH – a head-turning market
Fixing continues to come out in Low but spot remains Bid even in the face of yesterday USD slide before as the market has seen good USDCNH buying interest. Obviously, a well-bid market in the face of lower CNY fixes has some heads turning. With mainland economic recovery looking a bit shaky as per the softer Caixin PMI report yesterday, we could see more short CNH speculative positions hitting the market. And the Also ,weaker Aussie post-RBA interest rate cut and the across the board  bounce in USD a overnight will likely add to the bullish  USDCNH sentiment..

. PBoC Fix 6.4943 vs 6.4565  .040516iUSDASIA
 The basket is ratcheting higher at this morning’s open due to the USD jump on pre-NFP position adjustments.Also the massive downturn on the Aussie is weighing  negatively on regional sentiment.040516jMYR – bad cocktail for the Ringgit
The Ringgit’s sensitivity to oil prices this week is obvious and given the uncertainty in predicting the EM space pricing post-NFP, we could see some pullback in regional currencies. Oil price action seems to be associated with news that OPEC is reported to be in disagreement over its long-term strategy with Tehran and Saudi unable to see eye-to-eye. Risk sentiment has taken a bit of a hit in recent days as investors are becoming disgruntled with central banks’ ineffectiveness to guide the global economy through these turbulent times.

And certainly, the ensuing yo-yo effect on risk sentiment is taking its toll. Add in more fears about a further slowdown in global economic growth and it makes for a bad cocktail for the Ringgit. The market has been grinding higher and we’re now through what was previously strong resistance levels at 3.95-96, opening at 3.98 with the next resistance level coming at 4.05.

About Stephen Innes

StephenSenior Currency Trader and Analyst, Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA . After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario. Follow on Twitter profile.

The post APAC Currency Corner – The Aftermath appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

Dollar Sinks to 11-Month Low

marketpulse

The dollar headed for its lowest close in almost a year as signs of slowing growth in the U.S. dimmed prospects for a Federal Reserve interest-rate increase. Stocks fell and commodities extended gains in their best month since 2010.

The U.S. currency weakened against 13 of its 16 major peers, while the yen headed for its biggest weekly jump since 2008. Declines in the greenback are proving a boon for raw materials, helping lift gold and silver to 15-month highs. Crude oil has jumped 20 percent this month to more than $ 46 a barrel in New York. European equities trimmed their biggest monthly advance since November.020516lThe dollar’s third straight monthly drop and the prospects for the Fed moving gradually on interest rates are spurring the outlook for inflation, with the 10-year U.S. break-even rate at the highest since July. Reports today on consumer confidence and personal spending will provide clues on the trajectory of the world’s largest economy after data on Thursday showed the slowest pace of expansion in two years.

“I want to buy break-even inflation in the U.S. because the Fed wants that higher and that’s what undermines the dollar,” Kit Juckes, a global strategist at Societe Generale SA, said in an e-mailed report.

Currencies
The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major peers, slipped 0.3 percent as of 9:55 a.m. in London and was set for a 1.8 percent weekly loss. Fed Funds futures show odds of the central bank boosting borrowing costs in June fell to 12 percent following Thursday’s update on gross domestic product, having held at around 21 percent when the Fed concluded its policy meeting on Wednesday.

The South African rand and Russian ruble advanced 0.5 percent against the dollar while the euro and Swiss franc gained at least 0.3 percent.

The yen strengthened against all 16 major peers for the second day in a row, climbing as much as 1.1 percent to 106.91 a dollar, the strongest level since October 2014. It surged 4.3 percent this week as the Bank of Japan defied economists’ expectations that stimulus would be stepped up. Governor Haruhiko Kuroda told reporters after the review that he wants to wait and see how the introduction of negative rates in January affects the economy.020516m“The BOJ seems to have descended into a haze of confusion,” said Richard Jerram, the chief economist at Bank of Singapore. “They mismanaged expectations running up to the meeting — and that is clear from the market reaction.”

The yuan was little changed versus the greenback after China’s central bank boosted its daily reference rate by 0.6 percent, the most since a dollar peg ended in July 2005. The steep increase in the fixing reflects the dollar’s slide rather than any policy intentions, according to Ken Cheung, a currency strategist at Mizuho Bank Ltd. in Hong Kong.

Stocks
The Stoxx Europe 600 Index fell 1.1 percent, heading for its biggest drop since April 5 and paring its monthly increase to 2.3 percent. All its industry groups declined, with Sanofi down 2.6 percent after reporting sales that missed estimates.

Royal Bank of Scotland Group Plc lost 2.7 percent as it posted a deeper loss, and British Airways parent IAG SA fell 4.1 percent after saying demand for flights has been hurt by the Brussels terror attacks, weaker bookings in oil-based economies and the possibility of the U.K. exiting the European Union.

Futures on the Standard & Poor’s 500 Index expiring in June was little changed. The gauge dropped the most since April 7 on Thursday and is heading for a 0.8 percent monthly advance.

Amazon.com Inc. surged 12 percent in early New York trading as it reported sales and profit that topped estimates. Synaptics Inc. sank 11 percent after people familiar with the matter said it will miss an end-of-April target date to announce its sale to a Chinese investment group, and may accept a lower offer than previously discussed.

The MSCI Emerging Markets Index dropped 0.6 percent, trimming this month’s advance to 0.3 percent. The gauge has climbed 5.6 percent this year, compared with a 0.9 percent gain the MSCI World Index of developed markets.020516nCommodities
The Bloomberg Commodity Index, a measure of returns on 22 raw materials, rose 0.4 percent, extending this month’s gain to 8.1 percent.

Base metals rallied, with aluminum set for its biggest monthly advance since 2012 amid signs of improved demand in China, the world’s biggest consumer. Raw materials have recovered as China’s property and construction industry rebounded after a slow start to the year. Copper, zinc, lead and nickel climbed at least 1 percent.

Gold and silver rose, both due to close at the highest since January 2015.

Oil is poised for the biggest monthly advance in a year as U.S. production slumped to the lowest level since October 2014. West Texas Intermediate for June delivery rose 0.7 percent to $ 46.37 a barrel.

Bonds
The 10-year break-even rate, which measures the difference between yields on 10-year notes and equivalent Treasury Inflation-Protected Securities, widened for a 10th day. The gauge of the expected annual inflation pace over the next decade climbed to 1.72 percentage points, the highest since July.

The Bloomberg U.S. Treasury Index declined 0.3 percent in April, set for the first monthly loss of 2016. The 10-year yield increased by one basis point to 1.83 percent on Friday, having started the month at 1.77 percent. Similar-maturity bonds in Japan yielded minus 0.085 percent at the end of their final trading session in April.

Travelodge Hotels Ltd. was offering sterling-denominated junk bonds, according to a person familiar with the matter who asked not to be identified as they aren’t authorized to speak publicly. The deal is only the second high-yield sale in pounds this year, based on data compiled by Bloomberg.

About Dean Popplewell

PopplewellDirector of Currency Analysis and Research, Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2007, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders. Follow on Twitter and on his Google+ profile.

The post Dollar Sinks to 11-Month Low appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

Gold Rises as Fed Holds Rates With no Hike in Sight

marketpulse

After three straight years of losses, analysts are finally prepared to say gold prices have found a bottom, with rising prices seen this year and next as concerns over the pace of U.S. monetary policy tightening fade.

Gold analysts polled by Reuters have hiked their forecasts for the precious metal by nearly $ 100 an ounce since the start of the year after it posted its biggest quarterly rise in nearly 30 years in the three months to March.

The survey of 30 analysts at banks and trading houses carried out this month returned an average 2016 gold price forecast of $ 1,209 an ounce, up from $ 1,118 in a similar poll in January. Last year, prices averaged $ 1,159 an ounce.

They are expected to rise steadily this year, peaking at an average $ 1,250 an ounce in the fourth quarter, the survey showed, before extending gains to average $ 1,300 an ounce in 2017. That would be its highest annual average since 2013.

“The chief supportive factors are the shift in Fed stance, the weaker dollar and the prospect of inflation,” Macquarie analyst Matthew Turner said. “The first two have raised the base price, the third is why we expect higher medium-term prices.”

Gold has already climbed 16 percent so far this year as expectations for an imminent hike in U.S. interest rates faded. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets, while boosting the dollar. Gold is also a traditional hedge against inflation.

About Alfonso Esparza

Alfonso EsparzaSenior Currency Strategist, OANDA, Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto. Follow on Twitterand on his Google+ profile.

The post Gold Rises as Fed Holds Rates With no Hike in Sight appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

Oil Price Stable After Some Profit Taking

marketpulse

Oil futures steadied after setting new 2016 highs on Thursday as traders locked in profits, though analysts said supply disruptions, strong investor appetite and a weakening dollar could push prices higher soon.

Brent crude futures were trading at $ 47.21 per barrel at 1329 GMT, up 3 cents from their last settlement and off an earlier high of $ 47.59.

U.S. West Texas Intermediate (WTI) futures were up 4 cents at $ 45.37 a barrel after reaching a new 2016 high of $ 45.71.

Brent and WTI have rallied more than 70 percent since hitting their respective 2016 lows in January and February.

Record crude storage figures may have spurred some investors to take profits by closing positions betting on a rise in prices, traders said.

Government data on Wednesday showed that U.S. crude stocks climbed 2 million barrels last week to an all-time peak of 540.6 million barrels. [EIA/S]

Despite slipping from the highs, analysts said oil market sentiment had clearly turned bullish and further price rises were likely.

About Alfonso Esparza

Alfonso EsparzaSenior Currency Strategist, OANDA, Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto. Follow on Twitterand on his Google+ profile.

The post Oil Price Stable After Some Profit Taking appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2016/04/1-150x150.png

Top trade idea for April 29th, 2016 – USD/JPY

Contrarian traders lead a miserable existence. Around half the time, their trading peers consider them eccentric. Some of the time they suffer as fools, and at times are cast as dangerous lunatics. This is the price of defying popular opinion. However, for a few days a month, or perhaps a few weeks a year, they’re elevated to genius status.  Will you let USD/JPY make you look like a genius?

The Fed is tightening this year. Right? The BoJ must stimulate further. Right? Tighter USD, looser JPY. USD/JPY must go up. Right?

Chart says no.

1

This week, the Fed sounded dovish to neutral, and the BoJ passed on further stimulus. This combination saw USD/JPY make a leg down through support levels today, potentially heralding a continuation of the previous down trend.

The reason I like against-consensus trades is they may run longer and harder as popular thinking is confounded and positions are stopped out.

There are challenges in reconciling this momentum with the fundamentals. Regardless, the chart is unambiguous. Traders prepared to back the price action are likely sellers at current market prices around 107.20, with a stop loss at 107.90. (Above the secondary resistance – it’s worth drilling into the 4 hour chart to establish).

Some may prefer a target around the previous support / resistance close to 105.60. Others may prefer a trailing stop loss to ride the trend. While having your peers consider you a genius may give you a warm glow, it won’t increase your bank account.

The post Top trade idea for April 29th, 2016 – USD/JPY appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

US Crude Lower as Crude Inventories Beats Estimate

marketpulse

US crude futures have posted small gains on Wednesday, reversing the upward trend which marked the Tuesday session. US Crude is trading at $ 44.09 in the North American session. Brent Crude is trading at $ 45.93, as the Brent premium stands at $ 1.84. On the release front, today’s highlight is the Federal Reserve’s monthly policy statement. The markets are not expecting any change to the current benchmark interest rate of 0.25%. In other news, Crude Oil Inventories climbed 2.0 million barrels, above the forecast of 1.4 million. Pending Home Sales posted a strong gain of 1.7%, much higher than the estimate of 0.3%. On Thursday, the US releases two key events – Advance GDP and Unemployment Claims.

US crude has shown strong volatility in the past week, as the commodity has posted sharp drops but managed to recover. On Tuesday, crude briefly dropped over $ 6, representing a 15% plunge. However, crude rebounded and closed the Tuesday session with gains. US Crude Inventories climbed 2.0 million barrels last week, above the forecast of 1.4 million. US crude has responded with slight losses, but still remains at relatively high levels, trading just above $ 44.

All eyes are on the Federal Reserve, which will set the April benchmark rate and release a policy statement later on Wednesday. With the Fed widely expected to maintain interest rates at the current level of 0.25%, the markets will be carefully monitoring the tone of the policy statement. Janet Yellen has sounded cautious about the health of the US economy, and if the Fed continues on this path and sends out a dovish message, the dollar could soften against its major rivals.

The collapse in oil prices has, not surprisingly, meant huge losses for oil producers. The six Middle Eastern Gulf states (Saudi Arabia, Bahrain, Qatar, the United Arab Emirates, Oman and Kuwait), whose economies are almost entirely dependent on oil revenue, have been hit particularly hard, according to an IMF report. These countries lost $ 390 billion in revenue due to weak oil prices in 2015 compared to a year earlier, and that figure could jump to between $ 490 billion and $ 540 billion compared to 2o14. This has resulted in downgraded growth forecasts and growing budget deficits for countries that until now had little incentive to diversify. With oil prices unlikely to rebound to high levels anytime soon, the plunge in crude prices is a game-changer, as the Gulf producers and other oil exporting countries are scrambling to find other ways to raise revenue and keep their economies afloat as revenue from oil has nosedived.

WTI/USD Fundamentals
Wednesday (April 27)

  • 8:30 US Goods Trade Balance. Estimate -62.5B. Actual -56.9B
  • 10:00 US Pending Home Sales. Estimate 0.3%. Actual 1.4%
  • 10:30 US Crude Oil Inventories. Estimate 1.4M. Actual 2.0M
  • 14:00 US FOMC Statement
  • 14:00 US Federal Funds Rate. Estimate <0.50%

Thursday (April 28)

  • 8:30 US Advance GDP. Estimate 0.7%.
  • 8:30 US Unemployment Claims. Estimate 258K

*Key events are in bold
*All release times are EDT

WTI/USD for Wednesday, April 27, 2016280416kWTI/USD April 27 at 11:30 EDT
Open: 44.53 Low: 43.77 High: 45.17 Close: 44.09

WTI/USD Technical
280416l

  • WTI/USD showed limited movement in the Asian and European sessions. The pair has posted slight losses in North American trade
  • 43.45 is providing weak support
  • There is resistance at 46.69

Further levels in both directions:

  • Below: 43.45, 40.00, 37.75 and 35.09
  • Above: 46.69, 50.13 and 51.59

About Kenny Fisher

Kenny Fisher Currency Analyst, OANDA, Kenny Fisher joined OANDA in 2012 as a Currency Analyst. Kenny writes a daily column about current economic and political developments affecting the major currency pairs, with a focus on fundamental analysis. Kenny began his career in forex at Bendix Foreign Exchange in Toronto, where he worked as a Corporate Account Manager for over seven years. Follow on and on his Google+ profile.

The post US Crude Lower as Crude Inventories Beats Estimate appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

Oil Rises After Weaker USD and Higher Demand Expectations

marketpulse

Oil prices rose on Tuesday, boosted by a weaker dollar and by expectations that demand could grow quickly enough to match supply this year, although concern over a potential battle for market share between Saudi Arabia and Iran limited gains.

Front-month Brent crude futures LCOc1 were up by 59 cents to $ 45.04 a barrel at 1122 GMT (6:22 a.m. ET). U.S. crude futures CLc1 rose 54 cents to $ 43.18 a barrel.

“Market fundamentals continue to suggest that the combination of robust demand and weak supply growth will move global oil markets closer into balance by the end of the year,” BP Chief Executive Bob Dudley said in a statement after the firm reported stronger-than-expected results.

Helping prices were a weaker dollar .DXY and a rush of new investment into crude futures.

The oil price has risen by nearly 14 percent in April, putting it on track for its largest monthly gain in a year.

However, some analysts warned it was too early to call an end to the crude glut as Saudi Arabia and Iran could ramp up output further in a race for customers.

“The biggest bear risk to the oil market right now is that Iran’s ramp-up accelerates and then that Saudi Arabia does the same,” Citi said in a note to clients.

About Alfonso Esparza

Alfonso EsparzaSenior Currency Strategist, OANDA, Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto. Follow on Twitterand on his Google+ profile.

The post Oil Rises After Weaker USD and Higher Demand Expectations appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

Gold Higher, Markets Eye FOMC Meeting

marketpulse

Gold has posted slight gains on Monday, reversing the downward trend which marked the Friday session. Gold is trading at a spot price of $ 1240.75 an ounce in the North American session. On the release front, there is only one US event on the calendar. New Home Sales came in at 511 thousand, short of the estimate. On Tuesday, the US releases two major events – Core Durable Goods Orders and CB Consumer Confidence.

Gold has looked sharp in the first quarter of 2016, posting gains of some 17 percent. This marked the base metal’s strongest quarter in 30 years, a reflection of turmoil in the global economy, which has seen a sharp slowdown in China and the continued collapse of oil prices. Traditionally, gold is a safe-haven asset in times of crisis, and has climbed sharply in recent months as investors with a reduced appetite for risk have snapped up the commodity. Gold prices also tend to go down when interest rates move higher, since yield-bearing investments benefit from higher rates. With the Federal Reserve unlikely to raise rates at the conclusion of its policy meeting on Wednesday, the markets will be combing through the policy statement, looking for clues as to a hike in June. Fed chair Janet Yellen has gone out of her way in expressing caution about the health of the US economy, and if the Fed sends out a dovish message this week, gold prices could point upwards.

The US manufacturing sector remains a sore spot in the generally strong economy. Last week, the Philly Fed Manufacturing Index surprised the markets with a decline of -1.6 points, as the estimate stood at 8.1 points. This reading marked the third decline in four readings, as the manufacturing sector remains a weak area of the US economy. On Friday, US Flash Manufacturing PMI dipped to 50.8 points, shy of the forecast of 51.9 points. Although the reading did point to a slight improvement in manufacturing business conditions, it marked the PMI’s weakest release since September 2009. Uncertainty in global economic conditions has lead to weaker demand for US goods and weakened the manufacturing sector, a trend which has negatively affected producers in the US and elsewhere, such as the Eurozone and Japan. Meanwhile, the robust US labor market continues to impress. The weekly unemployment claims indicator fell to 247 thousand on Friday, well below the forecast of 265 thousand. This was the lowest weekly count since November 1973. As well, the unemployment claims four-week moving average, which is considered more accurate than the weekly indicator, also dropped compared to the previous release.

XAU/USD Fundamentals
Monday (April 25)

  • 10:00 US New Home Sales. Estimate 521K. Actual 511K

Tuesday (April 26)

  • 18:30 US Core Durable Goods Orders. Estimate 0.6%
  • 10:00 US CB Consumer Confidence. Estimate 95.8 points

*Key releases are highlighted in bold
*All release times are EDT

XAU/USD for Monday, April 25, 2016260416hXAU/USD April 25 at 11:15 EDT
Open: 1232.65 Low: 1230.03 High: 1242.31 Close: 1239.61

XAU/USD Technical
260416i

  • XAU/USD was flat in the Asian session. The pair posted gains in the European session and the upward trend has continued in North American trade
  • There is resistance at 1255
  • 1232 is providing weak support. This line was tested earlier in the day
  • Current range: 1232 to 1255

Further levels in both directions:

  • Below: 1232, 1205, 1191 and 1165
  • Above: 1255, 1279 and 1303

OANDA’s Open Positions Ratio
XAU/USD ratio shows long positions with a strong majority (60%), indicative of trader bias towards gold continuing to move higher.

About Kenny Fisher

Kenny Fisher Currency Analyst, OANDA, Kenny Fisher joined OANDA in 2012 as a Currency Analyst. Kenny writes a daily column about current economic and political developments affecting the major currency pairs, with a focus on fundamental analysis. Kenny began his career in forex at Bendix Foreign Exchange in Toronto, where he worked as a Corporate Account Manager for over seven years. Follow on and on his Google+ profile.

The post Gold Higher, Markets Eye FOMC Meeting appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

Will Draghi Revert to Old Tricks Today

marketpulse

European equity markets are trading a little lower on Thursday while U.S. futures are pointing to a slightly positive open, as traders look towards the ECB press conference for insight into whether the floodgates could open again in the coming months.

It’s too early for the central bank to consider further stimulus at this meeting having only unleashed the bazooka in March but investors will be looking for any suggestion that additional easing could be on the cards in the upcoming meetings. The euro quickly reversed course during Draghi’s last press conference after he suggested that rates had once again reached their lower bound, with focus now being on improving credit channels rather than weakening the currency.

While that is meant to be the policy of these major central banks, the idea that further easing could be focused at improving lending and stimulating the economy doesn’t do much for the euro which has remained at elevated levels since the meeting. It will be interesting to see whether Draghi reverts back to old tricks in today’s meeting and tries to talk down the euro in the absence of being able to actually use policy tools in order to drive it lower.

The eurozone recovery has been mild to say the least but what we have seen has benefited greatly from the currency weakness and the appreciation over the last month or so will have done nothing to help this. What’s more, inflation is still running well below target at 0%, even the core reading is 1%, well below the central bank’s target of below but close to 2%. Given the currency appreciation over the last month, this could come under further intense pressure in the months ahead which may force the ECB to act again, unless Draghi can have more success today.

We’ll also get a lot of economic data from the U.S. today with jobless claims, Philly Fed manufacturing index and CB leading indicator figures being released. It’s also worth noting that a large number of companies will release earnings today which could dictate investor sentiment throughout the U.S. session.

Oil is continuing to trade higher on Thursday, having made impressive gains on Wednesday following the latest EIA crude inventories data which confirmed a rise of 2.1m. The continued rally comes despite the collapse of the output freeze deal in Doha, the resolution of the strike in Kuwait and repeated speculation that Russia could increase output even at these low prices, which in itself has led to speculation that Saudi Arabia may also boost production. With that in mind, we have to assume that this is no longer primarily a supply side driven move and perhaps improving economic conditions in China has forced people to revise up their expectations for oil demand, especially if faster growth in China does rub off on the global economy and therefore demand. There is also the risk of further supply disruptions due to prices being at such low levels for a sustained period of time.220416jFor a look at all of today’s economic events, check out our economic calendar.

About Craig Erlam

craigBased in London, England, Craig Erlam joined OANDAin 2015 as a Market Analyst. With more than five years’ experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic research. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.

The post Will Draghi Revert to Old Tricks Today appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

US Crude Steady, Jobless Claims Shine

marketpulse

US crude futures are steady on Thursday, trading at $ 43.21 per barrel in the North American session. Brent crude futures are trading at $ 45.22, as the Brent premium stands at $ 2.00. In economic news, Unemployment Claims slid to 245 thousand, well below expectations. However, the Philly Fed Manufacturing Index posted a decline of 1.8 points, much lower than the estimate.

Crude prices have shown strong volatility this week. An oil summit in Qatar on Sunday, which included OPEC and non-OPEC nations, ended in disarray, without any agreement being reached by the participants. There was optimism that the parties might agree not to exceed current production levels, but hopes for even this limited move were dashed when Saudi Arabia insisted that any agreement had to cover Iran. When this didn’t materialize, the participants closed up shop and returned home. The failure of the talks could severely undermine the credibility of oil producers, and the huge oversupply of crude could worsen if Saudi Arabia and other suppliers decide to increase output. US crude prices initially fell after the meeting, but have since rebounded strongly. US crude has skyrocketed some 13 percent this week, moving above the $ 43 level.

Oil producers may have failed to reach an agreement in Qatar, but they managed to cause plenty of volatility in the currency markets. Commodity currencies like the Canadian and Australian dollars followed the movement of oil, posting losses immediately after the inconclusive meeting, but have since posted sharp gains. A strike by Kuwaiti oil workers also contributed to volatility in the oil markets. The three-day strike, which ended on Tuesday, significantly disrupted oil production in Kuwait, a major oil producer.

The US labor market continues full steam ahead, as the weekly unemployment claims indicator fell to 247 thousand, well below the forecast of 265 thousand. This was the lowest weekly count since November 1973, and the four-week indicator, which is considered more accurate, also dropped compared to the previous release. The good news was tempered by a disappointing key manufacturing report. The Philly Fed Manufacturing Index surprised the markets with a decline of -1.6 points, as the estimate stood at 8,1 points. This reading marked the third decline in four readings, as the manufacturing sector remains a weak area of the US economy. Uncertainty in global economic conditions has lead to weaker demand for US goods and put the squeeze on domestic manufacturers.

WTI/USD Fundamentals
Thursday (April 21)

  • 8:30 US Philly Fed Manufacturing Index. Estimate 8.1. Actual -1.6
  • 8:30 US Unemployment Claims. Estimate 265K. Actual 247K
  • 9:00 US HPI. Estimate 0.4%. Actual 0.4%
  • 10:00 US CB Leading Index. Estimate 0.4%. Actual 0.2%
  • 10:30 US Natural Gas Storage. Estimate 6B. Actual 7B

*Key events are in bold
*All release times are EDT

WTI/USD for Thursday, April 21, 2016220416kWTI/USD April 21 at 11:20 EDT
Open: 43.90 Low: 43.06 High: 44.49 Close: 43.21

WTI/USD Technical
220416l

  • WTI/USD was uneventful in the Asian and European sessions. The pair has posted losses in North American trade.
  • 40.00 is providing support
  • There is weak resistance at 43.45. This line could break in the North American session

Further levels in both directions:

  • Below: 40.00, 37.75, 35.09 and 32.22
  • Above: 43.45, 46.69 and 50.13

About Kenny Fisher

Kenny Fisher Currency Analyst, OANDA, Kenny Fisher joined OANDA in 2012 as a Currency Analyst. Kenny writes a daily column about current economic and political developments affecting the major currency pairs, with a focus on fundamental analysis. Kenny began his career in forex at Bendix Foreign Exchange in Toronto, where he worked as a Corporate Account Manager for over seven years. Follow on and on his Google+ profile.

The post US Crude Steady, Jobless Claims Shine appeared first on ForexNews.com.

ForexNews.com

Read More