Market movers today In the euro area the flash estimate for HICP inflation in November is released and we expect it to decline back to this cycle’s low of 0.3% y/y in November. Falling energy prices drag down the headline but we also expect euro core inflation to decline to a new historical low of […]

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Market movers today US markets are closed due to Thanksgiving. The OPEC meets in Vienna today. Whether or not it will cut its output target to curb the downward pressure on oil prices looks to be a close call. According to a Bloomberg survey 58% of analysts expect the OPEC to keep its target unchanged. […]

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Another Asian session, another fresh 7-year low for the Japanese Yen against the US Dollar, allowing the latter to be the best performer. USD/JPY printed its highest at 118.48, with the big 120.00 target getting ever closer. After an early dip due to Gotobi offers at the Tokyo fix, buyers came back in earnest to […]

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Market movers today Today’s most interesting event are the minutes from the FOMC meeting on 29 October, when the Fed turned more hawkish on the labour market saying that the underutilisation of labour resources was diminishing. Interestingly, hawks Charles Plosser and Richard Fisher did not dissent, even though the forward guidance was still in the […]

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The Australian dollar is trading around US87.17 cents at 5.20pm (AEDT) up from US87.07 cents yesterday as the Japanese government unexpectedly announced a second quarter contraction, technically pushing the country into recession. The economy contracted -1.6% year-on-year in the third quarter, against a consensus of 2.1% which sent the Yen reeling against most major currencies […]

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Sitting at a 7-day low a break below 87.22 confirms a Double Top to target 86.10. Friday’s intraday 4-year high didn’t last very long before closing the session with a Bearish Outside day. The weekly charts have also produced a Rikshaw Man Doji to suggest weakness at the highs. Asia trading has since seen a […]

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Draghi and Minutes of several major economies What a disappointment this week has been: exception made by Pound, little action was seen across the board. Indeed, the UK was the economy that more attention gathered these last few days, with Wednesday’s key fundamental readings triggering a selloff in the local currency. A tepid employment report […]

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The previous setup and consolidation in the first half of this year looks similar to that seen throughout late 2012 and early 2013, notes CitiFX Technicals. “In both cases we saw a consolidation in the form of a double bottom within a triangle followed by an aggressive bullish breakout,” Citi clarifies. Thus, Citi thinks that […]

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EUR/USD bounced off 1.2400 Spot is looking to extend the recent rebound from the boundaries of 1.2400 the figure, although it seems it will need a strong catalyst to break above the 1.2500 handle on a more sustainable basis. Ahead in the session, EMU’s Industrial Production for the month of September is due, with consensus […]

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Gold and silver have been sliding down the charts and it’s about this time that people start to look for further upside potential as it touches new lows. We are afraid to say though that further lows don’t look likely on the horizon at this point in time; given the trend and the market movements […]

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