Gold prices in terms of US dollar (XAU/USD) ended the week lower on Friday at 1201.77, bouncing off lows under 1200 levels on diminishing safe-haven demand after Greece sought an interim four month extension for its debt repayment, avoiding a probable default. The pair trades now at 1203.09, supported above the crucial trend […]

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Market movers today In Germany we expect the ZEW indicator to have improved markedly to 64.0 in February from 48.4 in January. Our call is substantially above consensus and if we are right, this will be the highest level for ZEW expectations since February 2006 underscoring that the German growth engine is again picking up […]

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EUR/USD consolidates above 1.1400 The pair remains within the intraday range after preliminary Q4 GDP figures in Germany showed the economy has expended more than estimates 0.7% inter-quarter and 1.6% over the last twelve months, up from previous readings at 0.1% and 1.2%, respectively. Further data showed wholesale prices contracting 0.4% MoM and 2.6% on […]

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“While the market had expected some weakening in labour force conditions in January after the surprisingly good figures in December, the increase in the unemployment rate to 6.4% was worse than feared. This is a new peak for the unemployment rate, with the previous peak 6.3% in October and November following revisions.” “The details of […]

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Macro Outlook After a recent string of disappointing economic data, hopes were not great going into the crucial announcement of Non-farm Payrolls on Friday. The first reading of Q4 US GDP had underwhelmed, whilst the ISM Manufacturing PMI had also disappointed (whilst the UK and many Eurozone PMIs had improved). Even the ADP employment report […]

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The start of a new week didn’t create much disturbances in currency values, with the main theme still being the strong USD after a stellar NFP last Friday, while the Aussie was lower across the board on China’s downbeat trade imports. AUD/USD traded in a tight range between 0.7748 and 0.7778, with a down-gap from […]

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US labour market data and consumer spending data all points to another strong print from the US non-farm payroll on Friday – consensus expectations point to a 235k print, slightly down on the January 252k result. Downside risks come from the effects of the significant drop in oil prices hitting jobs in the energy sector. […]

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Gold traders may have noticed the highs getting lower on the charts while at the same time the lows are getting higher. This is leading to a squeeze in the price of gold that will likely result in a breakout and a strong move either way. From the highs over $1,307 an ounce, gold has […]

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“The AUD plumbed to multi year lows again after the RBA cut rates by 25bps to 2.25% with the currency hitting a low of US$0.7649 , down 1.8% today.” “The AUD remains around these levels and any prospect for a rally, even on short covering has not materialised, with the market betting that the RBA […]

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Friday ended up being generally choppy but without any real direction, apart from Oil, which had a huge 7.2% rise as the result of the sharpest weekly drop in the U.S. oil rig count in nearly 30 years. This week will be a busy one, starting today with the global manufacturing PMI’s. Tomorrow, we will […]

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