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

Weekly Trading Forecast: FX Traders Brace for Huge Week Ahead

Major market volatility is nearly guaranteed on big tests ahead for the US Dollar and broader FX markets. Here are the critical events we’re watching.

US Dollar Forecast – US Dollar Volatility Near-Guaranteed, but Which Direction?

It was a difficult week for traders as the initial US Dollar breakdown left many (including us) looking for further losses.

Euro Forecast – EUR/USD August Advance to Unravel Further on Dovish ECB, Upbeat

The sharp pullback in EUR/USD may gather pace in the week ahead should the European Central Bank (ECB) signal a further expansion of monetary policy, while another 200K+ U.S.

British Pound – Sterling Runs into Support as Carney Takes the Stage at Jackson Hole

The British Pound was caught up in the rollercoaster risk-off/risk-on ride of the week in a very similar manner as the Euro and Japanese Yen; albeit with more subdued price action.

Japanese Yen Forecast – JPY Bulls Brace for BOJs Next Bailout

JPY saw its biggest rally vs. the USD since 2009 throughout this week’s early market turmoil.

Australian Dollar Forecast – Australian Dollar at Risk on RBA, Rebuilding Fed Rate Hike Bets

The Australian Dollar looks vulnerable to deeper losses in the week ahead as Fed rate hike bets rebuild while RBA rhetoric takes a dovish turn.

Gold Forecast – Gold Reverses as Fed Expectations Rebound – US NFP to Clear the Way

Gold prices plummeted this week with the precious metal off by more than 2% to trade at 1137 ahead of the New York close on Friday.

Weekly Trading Forecast: FX Traders Brace for Huge Week Ahead

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A’s, educational webinars, updated speculative positioning measures, trading signals and much more!

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from


DailyFX – Feeds all

Read More

http://cdn.plus500.com/Media/Logos/100x33/5164.gif

Bitcoin Futures Consistently Trade at a Discount

Want to Trade Bitcoin? ForexNews RecommmendsPlus500Click Here To Learn More.

For the first time in a long time, bitcoin futures are consistently trading at a discount to current market prices. We already experienced this situation few days ago but it lasted for less then one hour back then. Today we are seeing futures trade $ 1-2 dollars below exchange prices for the entire trading session.

aug29-okcoin

The picture above shows OKCoin’s September 25th futures contract. It is currently quoted at $ 226.00. Meanwhile the two nearer futures contracts are trading even lower at $ 225.32 (September 4th) and $ 225.11 (September 11th). Bitcoins on the main OKCoin USD exchange are selling for $ 227.55 a piece.

This indicates that traders have finally shifted their expectations for the future, from slightly bullish to slightly bearish. It comes exactly 11 days after the start of the current downtrend in prices.

The second chart below shows today’s trading session on BTC-E. We opened at $ 227.89, slowly fell to $ 224.30. One bitcoin is currently being sold for $ 224.77 on BTC-E.

aug29

The important support and resistance levels have shifted somewhat. On the upside, a breakout above the $ 235 swing high on BTC-E may end the downtrend. This level corresponds to around $ 239 dollars on OKCoin. However, a stronger and more deciding level can be found slightly higher at the $ 250 handle. This figure was the jumping point for the current BTC downtrend. A move back above it would seal the deal on the losses, at least in the short-term.

On the downside, the first strong support level is at the former double bottom at $ 210 (BTC-E) and $ 214 (OKCoin). The September 25th low at $ 192 (BTC-E) and $ 195 (OKCoin) may also act as support, followed by this year’s low at $ 162 (BTC-E) and $ 172 (OKCoin).

Get our free guide to bitcoin trading here.

The post Bitcoin Futures Consistently Trade at a Discount appeared first on ForexNews.com.

ForexNews.com

Read More

Weekly Indicators: no significant changes edition

Mortgage applications had been awful for several years, before turning up early this year in response to very low rates.  With rates back below 4%, I expect this number to improve. 

Real estate loans have been firmly positive for close to two years.

Real YoY money supply remains firmly positive.

The US$ appreciated about 20% against the Euro in particular late last year.  It made yet another new high this week. At the moment, the US$ is King of the World, which means every other country will be gunning to export to us.  US industrial production is set up to take another hit.

Commodity prices

JoC ECRI

  • Down -1.50 to 89.53 w/w 
  • Down -31.01 YoY

BBG Industrial metals ETF

Commodity prices as measured by ECRI continued to fall this week to fresh multi-year lows, while metals rebounded.  I suspect this is mainly driven by Chinese weakness, and is a net boon to the US economy.

Employment metrics

 Initial jobless claims

  • 271,000 down -6,000 
  • 4 week average 272,500 up +1,000

Initial claims remain well within the range of a normal economic expansion, as does the 4 week average.

The American Staffing Association Index 

  • Up +1 to 97
  • Down -1.99 YoY

The YoY comparison had generally been positive to strongly positive since last spring. In the last two months turned neutral and then increasingly negative. The YoY comparisons have become less negative in the last month.

Tax Withholding (not available this week due to Treasury server issues)

  • $ 122.6 B for the first 14 days of August vs. $ 121.0 B one year ago, up +$ 1.6 B or +1.3%
  • $ 163.1 B for the last 20 reporting days ending Thursday vs. $ 154.6 B one year ago, up +$ 8.5 B or +5.5%

Beginning with the last half of 2014, virtually all readings have been positive. Twice in the last 3 weeks, due to particular daily weakness, we have seen negative readings, but the less volatile 20 day running sum remains quite positive.

Oil prices and usage

  • Oil up +$ 5.01 to $ 45.30 w/w
  • Gas down -$ .08 to  $ 2.64 w/w 
  • Usage 4 week average up +5.8% YoY 

The 2010-13 Oil choke collar remains broken.  The price of gas and oil bottomed at the end of January at $ 2.02.  They rose $ 0.80 to $ 2.82 in June, before declining in the last two months. Gas should be below $ 2 in some states already.

Bank lending rates

LIBOR rose sharply from its post-recession low set in one year ago, and the TED spread was also in an uptrend since the last the middle of 2014, rising off its November 2013 low.  In the last few weeks, however the TED spread has whipsawed violently.

Consumer spending

Both the Goldman Sachs and Johnson Redbook Indexes weakened after last Christmas, and weakened further YoY beginning in May.  With the exception of 3 weeks in April, the Gallup report has been negative since the beginning of this year.  The big difference appears to be that Gallup does not measure big, durable, purchases, but most importantly does include gas purchases.

 

Transport

Railroad transport

  • Carloads down -5.2% YoY
  • loads ex-coal down -3.1% YoY
  • Intermodal units up +5.0% YoY
  • Total loads up +0.4% YoY

Shipping transport

Rail traffic fell off a cliff in mid-February. Intermodal traffic quickly turned positive again, but domestic carloads, led by coal (for export) declined further in May and June (off -8% to -10% YoY), but have been less negative since.

After declining sharply for several months, making a 3-year low in mid-February, the BDI surged higher. Meanwhile, Harpex (container shipping) turned up sharply for 3 months, making almost continual new 4-year highs, peaking at 646 eight weeks ago, before turning down again. In the longer term, shipping rates bottomed about 3 years ago and have been in a slow and variable uptrend since, although the Baltic index did break that to the downside in the recent skid.

Steel production

  • Down -1.5% w/w
  • Down -9.7% YoY

Over the last several years steel production had generally been in a decelerating uptrend.  Since  spring 2014, it turned mixed, and then cliff-dived 6 months ago.

SUMMARY: 

There were no big changes this week.

Among long leading indicators, interest rates for corporate bonds and treasuries  remained neutral.  Mortgage rates have returned to being a positive.  Refinancing is slightly improved from its multi-year bottom.  Money supply, purchase mortgage applications, and real estate loans remain positive. 

 

Among short leading indicators, the interest rate spread between corporates and treasuries turned even more negative.  The US$ also turned even more negative. Temporary staffing was negative for the 15th week in a row, but it isn’t getting worse.  Positives included jobless claims, oil and gas prices, and gas usage.  Commodities are a big negative for (global) manufacturing, but are probably a big boon for consumers.

The coincident indicators range from the lukewarm positive to strongly negative.  Tax withholding was again in its normal positive on a 20 day basis this week. On the other hand,  the negative uptrends in LIBOR and the whipsawing in the TED spread continued.  Steel production and rail carloads (led by coal) are still negative, although rail looks considerably “less worse.”  Gallup spending remains negative, while Johnson Redbook is again just barely positive, and Goldman Sachs chain store sales more positive. Shipping has declined to neutral.

I suspect that the globe, as a whole, is in recession.  The bottom line as to the U.S. remains that with good numbers in housing and vehicle sales, and especially with gas prices declining again, I still remain positive through the first half of next year.

Have a nice weekend!


RSS Feed

Read More

http://cdn.plus500.com/Media/Logos/100x33/5164.gif

Bitcoin Reverses Losses, Rallies $14 Dollars

Want to Trade Bitcoin? ForexNews RecommmendsPlus500Click Here To Learn More.

Bitcoin reversed the losses earlier in the day and closed higher by $ 4.63 dollars. We opened at $ 223.21, fell to a low of $ 216.21 before rallying $ 14 dollars to $ 230.96. We are currently quoted at $ 228.35 dollars per coin, not far from the day’s high.

aug28

On OKCoin we had an even larger bounce of $ 14 dollars from a $ 220.00 low. One coin is selling for $ 233.22 at the moment. Looking at this comparison webpage, all major bitcoin exchanges except one are currently quoting $ 233 dollars per coin. This includes all 3 major Chinese sites. Just as a reminder, these exchanges traded at a $ 6 dollars premium in the immediate aftermath of the PBOC devaluation. For the important support and resistance levels, read our yesterday article.

Discussion is raging about what to do with the problem of the size of bitcoin blocks.The current limitation is set at 1 MB and while that’s enough for now, many experts think that as traffic increases, this hard limit will delay transations.

Here’s a part in the Bitcoin Wiki entry about blocks: ”data that is permanently recorded in the Bitcoin network through files called blocks. A block is a record of some or all of the most recent Bitcoin transactions that have not yet been recorded in any prior blocks. They could be thought of like the individual pages of a city recorder’s recordbook.”

According to a recent tweet by mining pool KNC, they will support either protocol BIP100 or BIP101. These protocols will allow miners to vote on future block size limits. In followup tweets, KNC clarified that they support increasing the size from 1MB to 2MB and later on to 4MB and 8MB. Protocols BIP100 and BIP101 will allow for a block size increase without the controversial proposal for a ”hard fork”.

Hard forks have a small but not insignificant chance for a split in the bitcoin network. The latest such proposal lead to some market panic 10 days ago. More on the BIP100 protocol HERE. With today’s support by KNC, it’s estimated that about 60% of the current hashing power in the bitcoin network will support this protocol once it goes live. Today’s price reversal indicates that market participants are pricing out the fear for a ‘‘bitcoin split” as the BBC put it.

Get our free guide to bitcoin trading here.

The post Bitcoin Reverses Losses, Rallies $ 14 Dollars appeared first on ForexNews.com.

ForexNews.com

Read More

http://1mslxp2btvx9409oou16vbbv.wpengine.netdna-cdn.com/wp-content/uploads/2013/04/cmc.jpeg

Top trade idea for August 28th, 2015 – AUD/USD

cmc

In all the volatility this week , the Aussie Dollar hit a 6 year low of .705 against $ US

Here are 4 chart based reasons why this might just turn out to be a significant low

  • It intersects at potential trend line support which runs through the lows of 2001 and 2008
  • It represents a 78.6% Fibonacci retracement of the whole post GFC rally from 60c to 1.108
  • If the Aussie does form a base around this level the two major swings down from the 2011 high will be pretty much the same size ( a chart phenomenon called an AB=CD pattern)
  • The Aussie is deeply oversold suggesting that if it does start to rally from here, the consensus view will be caught on the wrong side. This could lend solid impetus to the initial stages of any rally

For big picture traders, the cautious approach to a situation like this is to wait for clear signs that the market is bouncing off or rejecting the support before drawing too many conclusions

AUDUSD Monthly Chart

Untitled

 

About Ric Spooner

ric spoonerRic Spooner is Chief Market Analyst at CMC Markets in Sydney. He has over 30 years experience in derivates markets, and was previously a Managing Director at Sydney Futures Exchange Clearing, General Manager at JBWere Futures and Manager at Elders Futures.

The post Top trade idea for August 28th, 2015 – AUD/USD appeared first on ForexNews.com.

ForexNews.com

Read More

http://1mslxp2btvx9409oou16vbbv.wpengine.netdna-cdn.com/wp-content/uploads/2013/04/cmc.jpeg

Top trade idea for August 28th, 2015 – AUD/USD

cmc

In all the volatility this week , the Aussie Dollar hit a 6 year low of .705 against $ US

Here are 4 chart based reasons why this might just turn out to be a significant low

  • It intersects at potential trend line support which runs through the lows of 2001 and 2008
  • It represents a 78.6% Fibonacci retracement of the whole post GFC rally from 60c to 1.108
  • If the Aussie does form a base around this level the two major swings down from the 2011 high will be pretty much the same size ( a chart phenomenon called an AB=CD pattern)
  • The Aussie is deeply oversold suggesting that if it does start to rally from here, the consensus view will be caught on the wrong side. This could lend solid impetus to the initial stages of any rally

For big picture traders, the cautious approach to a situation like this is to wait for clear signs that the market is bouncing off or rejecting the support before drawing too many conclusions

AUDUSD Monthly Chart

Untitled

 

About Ric Spooner

ric spoonerRic Spooner is Chief Market Analyst at CMC Markets in Sydney. He has over 30 years experience in derivates markets, and was previously a Managing Director at Sydney Futures Exchange Clearing, General Manager at JBWere Futures and Manager at Elders Futures.

The post Top trade idea for August 28th, 2015 – AUD/USD appeared first on ForexNews.com.

ForexNews.com

Read More

XE Market Analysis: Europe – Aug 27, 2015

The dollar traded with a modest downside bias during pre-Europe trade in Asia, correcting some of the gains seen on Wednesday. EUR-USD recovered to the 1.1350 area after logging a six-day low at 1.1292 late yesterday, and USD-JPY ebbed back under 120.00 after peaking at a two-day high of 120.36 in early Asia-Pacific trade. Yesterday’s dovish remarks by NY Fed’s Dudley, who said that the case for a September tightening looked “less compelling” given global economic uncertainty, had imparted only a fleeting dollar-negative impact, with the currency subsequently extending gains as Wall Street arrested a six day loosing streak. The S&P 500 closed with a 3.9% gain, the best one-day rally since November 2011 (though the index remains 10% below May’s record high). Hopes for a delay in Fed tightening boosted stock markets across Asia, including China today. We expect forex markets will hunker down into the Fed’s Jackson Hole jamboree, which starts today, though we’ll have to wait for Saturday’s speech by Fed Vice Chairman Fischer for a policy signal with regard to the timing of rate lift-off.

[EUR, USD]
The euro looks vulnerable after posting across-the-board declines yesterday, when ECB member Praet said that disinflation risks were increasing. This was followed by a 1.7% decline in German import price inflation, with prices down 0.7% m/m, driven by lower energy prices. While ECB’s Coeure said earlier in the week that the ECB needs to see through energy induced volatility in prices, his colleague Praet showed that the lower inflation trajectory will give the central bank an excuse to feed the market with decidedly dovish soundbites to keep a lid on the euro, even if the central scenario remains steady rates for the foreseeable future. There had already been market speculation during the recent market turmoil that the ECB could expand QE. EUR-USD recovered to the 1.1350 area after logging a six-day low at 1.1292 late yesterday, but we continue to see risk to the downside. Near-term resistance is at 1.1364-65.

[USD, JPY]
USD-JPY bid back above 120.00 in the early London session, which returned focus on yesterday’s two-day high of 120.36. Better risk sentiment following dovish remarks by NY Fed’s Dudley yesterday had seen the haven yen currency come off the boil. Dudley said that the case for a September tightening looked “less compelling” given global economic uncertainty. USD-JPY support is at 119.79-80, while the 200-day moving average at 120.72 is resistance.

[GBP, USD]
Cable extended losses to the mid-1.54s, down sharply from Tuesday’s two-month high above 1.58. The move largely reflects a dollar-Europe rebound. Sterling has fared better against the euro over this period. Cable support is at 1.5448-55, which encompasses yesterday’s low and the 100-day moving average. Resistance is at 1.5500-10

[USD, CHF]
EUR-CHF has been seeing choppy trade around the 1.0800 level in recent sessions. Broader euro selling after dovish remarks by ECB’s Praet yesterday should keep the bias to the downside. Support is at 1.0760-65.

[USD, CAD]
USD-CAD has posted a two-day low at 1.3242, correcting after running to a new 12-year peak of 1.3353 on Tuesday. Oil prices have found a footing over the last couple of days, though the magnitude of the losses over the last few weeks is widely considered a negative for the Canadian economy and the CAD.


RSS Feed

Read More

Chinese Intervention Helps to Bring Back Risk-On

Summary:

  • Another climactic night of price action in Chinese stocks saw a late-session ramp bring a 6% move into the Shanghai Composite.
  • Comments from NY Fed President William Dudley helped to provide support to US stocks.
  • Risk-trends appear to be finding their way back into the market, including a potential short setup in EURUSD.

1. It was yet another climactic night in China, but last night’s session ended on a considerably more positive tone than the gut-wrenching price action of the days prior.

At 2:10 AM EDT with fifty minutes to go, the Shanghai Composite was in negative territory by -.7% before a major ramp sent stocks screaming back into positive territory to close with a +5.3% gain. This put the Shanghai Composite (shcomp) back over the 3,000 psychological level, and has helped the global economy take a step back from the ledge, at least for now.

In a report this morning, Bloomberg shares information from an anonymous source that claims that the late-day ramp was due to government buying ahead of a September 3rd holiday and parade to celebrate the 70th anniversary of victory over Japan in World War II. After rate cuts and cuts to reserve requirements failed to bring support into stocks, a market meltdown has created considerable negative sentiment in the country. The report claims that the intervention was implemented to counter this sentiment by bringing some semblance of stability to Chinese stock prices ahead of this parade.

China’s markets will be closed on September 3rd and 4th (next Thursday and Friday) in observance of this national holiday.

Stocks in Hong Kong enjoyed a considerable portion of this rally, as a higher-low has been established at the 21,000 psychological level and higher-highs coming off of the 22,000 level.

Chinese Intervention Helps to Bring Back Risk-On

Created with Marketscope/Trading Station II; prepared by James Stanley

2. US Stocks go back into ‘Bull Mode’ after Dudley Comments: The early portion of US trade yesterday appeared as though ‘crash-like’ conditions may be coming back into the US stocks. But commentary from NY Fed President William Dudley, often considered one of the more dovish FOMC members helped to bring support into stocks.

The most recent rout in markets began with the release of Fed minutes last Wednesday. This is when US stocks started sliding, and finally broke below the 2,040 support level that had held the S&P 500 for six and a half months. As support levels started giving way, that’s when panic began to set in. With the sell-off in the early portion of US trade yesterday, it appeared as though Chinese stimulus was going to be fully priced-out of the market within a few days of being added in, but Bill Dudley stepped up to the plate and gave enough of a compelling case for buying stocks. Mr. Dudley said that a September hike was looking ‘extremely unlikely as a liftoff date.’ He also said that we were far away from QE4 discussions.

This helped to further evaporate expectations for that September hike, and opens the door for numerous discussions for creative implementation of monetary policy given the Jackson Hole meeting that begins today.

Chinese Intervention Helps to Bring Back Risk-On

Created with Marketscope/Trading Station II; prepared by James Stanley

3. Euro down-trend back in order? One of the brightest aspects of ‘panic’ leaving the market could be the return of risk-trends in markets. As in, those carry trades that have been unwinding en masse may be free to float back in their rate-driven order. Of specific interest is the EURUSD, as we’ve been getting lower-lows and lower-highs on the hourly chart; and price has just sunk into a previously strong support/resistance zone in the 1.1300 neighborhood. We’ve also just crossed back below the 200-day moving average, and breaks below this level could open up bearish setups to go short in the pair.

An important point-of-emphasis, as this has been a popular topic of recent: The Euro is not a safe-haven currency. There were many accusations of such as EURUSD ripped higher while panic and volatility was increasing, but as David Rodriguez laid out yesterday, this was more likely unwind of a carry trade as the Euro has become a viable funding currency. With fear permeating the environment, traders were compelled to close out the short EURUSD position for fear of bigger problems. To close a short position, one must buy and that equates to strength. After the EURUSD shed over ~3500 pips in 9 months on the back of European QE and break-up concerns, much of the market was left net-short. To the point where most anyone that wanted to be short EURUSD was short EURUSD, and it takes sellers to move prices lower.

With a sense of semblance coming back into the global environment, and with China supporting prices going into this September 3rd holiday and while the Fed meets in Jackson Hole – risk trends could be let free to come back into markets.

Chinese Intervention Helps to Bring Back Risk-On

Created with Marketscope/Trading Station II; prepared by James Stanley

Written by James Stanley of DailyFX; you can join his distribution list with this link, and you can converse with him over Twitter @JStanleyFX.

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from


DailyFX – Feeds all

Read More

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

Oil Stable After China Stimulus

marketpulse

Oil stabilized on Wednesday after China’s central bank moved to support the country’s economy, but prices stayed near 6-1/2-year lows as a heavy supply glut kept the market outlook bearish.

“Oil is catching its breath a bit and seeing if markets have been oversold or not,” Capital Economics commodities economist Thomas Pugh said.

Brent LCOc1 was up 20 cents at $ 43.41 a barrel by 1115 GMT, and U.S. crude CLc1 was up 15 cents at $ 39.46 a barrel.

Oil has lost a third of its value since June on high U.S. production, record crude pumping in the Middle East and concern about falling demand in Asian economies.

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 Stable After China Stimulus appeared first on ForexNews.com.

ForexNews.com

Read More

XE Market Analysis: Europe – Aug 26, 2015

Currency markets have been tranquilized by the tonic of China’s easing yesterday, which has underpinned Chinese and other Asian stock markets today. The dollar traded moderately firmer amid the cautious risk-on backdrop. EUR-USD drifted back under 1.1500, but remained comfortably above yesterday’s 1.1396 low. USD-JPY recovered to the mid-119s from lows in the mid-118s, with the yen softening as regional stocks rose. There are signs that market sentiment still remains fragile, however, with the Shanghai Composite retreating in the last hour of trade, down to a net 1.9% gain from earlier 4%-plus gains, while Wall Street gave up intraday gains yesterday to close in the red (though futures are pointing to a positive open). Focus is shifting to the Fed’s Jackson Hole gathering at the weekend, where market participants will be looking for confirmation that a September rate hike is still on the cards or not.

[EUR, USD]
The dollar traded moderately firmer amid the cautious risk-on backdrop. EUR-USD drifted back under 1.1500, but remained comfortably above yesterday’s 1.1396 low. Focus is shifting to the Fed’s Jackson Hole gathering at the weekend, where market participants will be looking for confirmation that a September rate hike is still on the cards or not. The prevailing tranquillity suggests that markets are leaning towards the Fed putting back a tightening. We expect EUR-USD will see choppy, net sideways trade for the remainder of the week.

[USD, JPY]
USD-JPY recovered to the mid-119s from lows in the mid-118s, with the yen softening as regional stocks rose following yesterday’s after-close easing announcement out of China. There are signs that market sentiment still remains fragile, however, with the Shanghai Composite retreating sharply in the last hour of trade, down to less than a net 0.5% gain from earlier 4%-plus gains, while Wall Street gave up intraday gains yesterday to close in the red (though futures are pointing to a positive open). A big focus now will be on the Fed’s Jackson Hole gathering at the weekend, where market participants will be looking for confirmation that a September rate hike is still on the cards or not. USD-JPY is likely to remain volatile, and we think with the overall bias to the downside as concerns about the Chinese economy are likely to persist.

[GBP, USD]
Cable has extended losses to the low 1.57s from two-month highs above 1.58. The move largely reflects a dollar-Europe rebound on firm U.S. data and revived risk appetite following the China easing. Key support is marked by the 20- and 50-day moving averages, which are converging at 1.5622-24. Sterling has fared better against the euro over the last day. The UK July BBA mortgage approvals report and the August CBI distributive trades survey are up today, data which will be scrutinized for signs that rising BoE rate hike expectations is having an impact. The August Markit UK household finance index found that nearly 80% of households anticipate a rate rise over the next year, up from 62% in July.

[USD, CHF]
EUR-CHF recovered above 1.0800 amid general euro demand as the Eurozone currency finds itself a safe haven in uncertain times. The cross has posted a higher high for two straight trading days, breaking one-week run lower. Support is at 1.0765.

[USD, CAD]
USD-CAD is softer after running to a new 12-year peak of 1.3353 on Tuesday. Oil prices have found a footing over the last couple of days, the magnitude of the losses over the last few weeks is widely considered a negative for the Canadian economy and the CAD.


RSS Feed

Read More