Monthly Archives: February 2015

Today’s Trading Edge: Gold – Tentatively respects 100-day SMA

Yesterday, gold prices rallied on solid physical demand from Chinese investors who just returned from celebrating the Lunar New Year holiday.  After hitting a session high of $1,219.90 and tentatively respecting the 100-day SMA, gold prices have settled closer towards

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Today’s Trading Edge: Euro resumes bearish trend

The euro resumed its bearish trend against the U.S. dollar this morning after solid U.S. data on inflation and business orders bolstered expectations that the Federal Reserve will hike interest rates in June or September.  The news was not all

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Today’s Trading Edge: Weaker USD on Yellen’s dovish comments

The US dollar was sold after day one of Fed Chairwoman Janet Yellen’s testimony to the Senate Banking Committee. While Yellen remained optimistic about the U.S. economy, her ruling out of a rate hike over the next couple meetings helped

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Today’s Trading Edge: Inflation expectations sink kiwi

The New Zealand weakened against all of its major trading partners after the Reserve Bank of New Zealand (RBNZ) released a lower inflation outlook.  Inflation expectations dropped to 1.8% from 2.06%.  The weaker consumption growth  along with stronger expectations that

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Today’s Trading Edge: USD/JPY hovers above 50-day SMA

The U.S. dollar remains trapped in a very tight trading range to start the trading week as everyone awaits Fed Chairwoman Janet Yellen’s testimony about monetary policy. If the Yellen changes her stance of a summer rate hike, we could

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Today’s Trading Edge: Loonie falls after Retail Sales suffers largest decline since April 2010.

The Canadian dollar fell against the U.S. dollar after Statistics Canada reported that Canadian Retail Sales dropped 2.0% to $42.1 billion in December.  Weakness occurred in 9 of 11 subsectors and were down in every province. Price action on the

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Today’s Trading Edge: Gold reversed losses after Minutes show Fed may keep rates low longer

Today’s Federal Reserve Minutes suggested that the Fed may keep rates near record lows a little longer.  Over the past few months, expectations were growing that the Fed would begin tightening possibly in June or September.  Now the focus will

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Today’s Trading Edge: GBP/JPY poised to target the 190.00 region

The pound continued to rebound against the Japanese yen for a second consecutive day after a report showed that wage growth accelerated and the unemployment rate dropped 0.1% to 5.7%.  Both pieces of data support the argument that the Bank

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Today’s Trading Edge: Will oil prices continue to stabilize?

Oil prices in February are in the midst of a strong rebound and partial recovery despite the massive drop in number of US oil rigs.  Baker Hughes announced on Friday that drillers dropped the rig count by 98 rigs to

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Today’s Trading Edge: EUR/CAD – Sharp decline may continue

EUR/CAD weakened for a fourth consecutive day as European officials struggle to make any progress with the Greek government regarding debt relief or an extension.  Price action on the EUR/CAD daily chart shows that recent consolidation appears to be signaling

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