BOJ Talks But Doesn’t Act – USD/JPY Slides
The Bank of Japan left its policy unchanged in a meeting that was attended by special guests but yielded nothing. They did talk about acting in the future, but this was far from enough to weaken the yen, especially as they removed the language about further cutting rates into negative territory. USD/JPY rattled and flirted with the 114 level but eventually […]
BOJ Keeps Rates Steady, RBA Minutes Released
The Bank of Japan kept monetary policy steady on Tuesday. After a two-day monetary policy meeting that began on Monday, the central bank maintained its pledge to increase base money at an annual pace of 80 trillion yen ($700 billion). It also left unchanged a 0.1 percent negative interest rate it applies to some reserves […]
Crude Oil Prices May Be Heading Towards Stability
Crude oil prices might have hit rock bottom according to an official report. According to the International Energy Agency (IEA), there are now signs of stability within the oil markets and also cautious optimism for price increases in the near future. According to a report released by the same Agency on Friday, during February there […]
Impending Fed Decision Makes Dollar, Equity Trades Very Risky
Video length: 00:20:47 The Dollar posted a tentative recovery from its key technical break this past week and the climb in risk trends stalled. Whatever designs you have for the trades that are born from those developments should take into account key event risk ahead in the Federal Reserve’s rate decision on Wednesday. The world’s […]
Oil Plunges Back To Draghi Lows
Just as we saw with the stock market following Draghi’s December disappointment dead-cat-bounce, WTI Crude has collapsed back to post-Draghi lows, erasing all the WTF bounce from Friday. The driver – aside from the fact that there was no driver of the ramp – appears to be comments from Emirates Bank on the resilience of US shale […]
Weekly Forex Technical Outlook – 15th March
EUR/USD (1.11): The single currency has started to ease back following the post-ECB rally. Failure to test the upper resistance near 1.123 signals a potential pullback with the upside bias in the near term likely to stay intact. Support to the current declines come in at 1.095 – 1.10 region which is likely to be […]
USD/CAD – Trying To Find A Bottom As Key Support Approaches
Two weeks ago I wrote that the USD/CAD would likely see more downside in the weeks ahead. At the time of that writing the pair was trading at 1.3517 some 350 pips over the low that we saw last week at 1.3166. We are now approaching an area of key support that should be key […]
Dollar Shortage Claims Another
The Central Bank of Egypt auctioned $200 million at 8.85 per Egyptian pound rather than the prevailing 7.73. The inflationary move of devaluation is intended to help the country gain a more solid financial background due to a persisting “dollar shortage” that nobody seems to hold in much curiosity. Despite the fact that this is […]
E Celator Pharmaceuticals Soars 300% On Positive Phase 3 Results In High-Risk AML Patients
In after-hours trading on Monday shares of Celator Pharmaceuticals (CPXX) soared more than 300% as the company announced positive phase 3 results in a trial with patients with high-risk acute myeloid leukemia. The company’s injectable drug is known as VYXEOS or CPX-351. This drug was being compared to the standard of care regimen of cytarabine […]
Daily Market Analysis – 3/15/2016
Video length: 00:01:37 During the day on Tuesday, it’s very likely that will have quite a bit of volatility because we have several different announcements coming out. We have the European employment numbers, the Core PPI, Core Retail Sales, and the Empire Stay Manufacturing Index out of the United States. Because of this, the market […]
