Currency Strategist

New Zealand Dollar Rebound Threatened by Dovish RBNZ
Stocks

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The New Zealand Dollar was the second best performer this week, finishing just 0.12 percent lower against the top performer, the Australian Dollar. The Kiwi crushed the safe haven currencies, the Japanese Yen and the US Dollar, appreciating by 3.72 percent and 2.05 percent, respectively. As Currency Strategist Ilya Spivak frequently notes, the New Zealand Dollar has a very tight correlation to the MSCI World Stock Index, so the commodity currency is at bay to global risk trends.

Euro – Is this the Recovery or the Calm before the Storm?
Currencies

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The Euro bounced sharply off of multi-year lows in a week of impressive recovery for the US S&P 500 and broader financial markets.

EURUSD: Hold Short as Upswing Losses Steam
Commodities

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We initially sold EURUSD at 1.3121 and added to the position at 1.3026. The pair sold off after forming a bearish Harami candlestick pattern and we have subsequently revised the stop-loss and target downward to lock in some gains

USD Index Searches for Support- JPY Losses to Soften the Blow
Currencies

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  The greenback is markedly weaker at the close of North American trade with the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) off by 0.67% on the session after moving a full 135% of its daily average true range. The losses come on the back of a stellar performance in equity markets with a rebound in risk appetite fueling a broad-based rally in stocks amid speculation that the ECB will

Gold Bars
Commodities

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Gold was sharply higher at the close of trade this week with the precious metal surging 3.87% to close at $1622.75 in New York. The rally marks the largest single week advance since the week ending January 27th when prices soared by more than 4.4% as it approached the $1740 level

US Dollar Rally May Find Added Fuel in Global Slowdown Fears
Currencies

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Most of the major currency pairs continue to show significant correlations with the MSCI World Stock Index, suggesting that broad-based risk appetite trends remain dominant as drivers of price action. This puts thematic macro-level concerns – specifically, the durability of the US recovery and its ability to offset headwinds from Europe and China facing global growth – squarely at the forefront. The US economic calendar is relatively quiet, with headline event risk clustered at the end of the week as PPI and UofM Consumer Confidence readings cross the wires on Friday. This puts the onus on evaluating the extent of downward pressure.

Euro
Currencies

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The ongoing political turmoil in Europe continues to shake the markets, with the inability for Greece to form a government now fueling speculation that the country might soon exit the Eurozone. Although an exit by Greece would have only a minimal impact on the broader economy, given the country’s size, fears of contagion seem to be the bigger problem right now, as investors start to price in the impact this will have on larger economies like Spain and Italy.

EUR Bearish Pattern Continues To Take Shape, GBP Correction In Focus
Currencies

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Euro: French, Greek Elections Raises Risk For Breakup – 1.3000 Crucial British Pound: Correction In Focus, BoE To Discuss Exit Strategy Euro: French, Greek Elections Raises Risk For Breakup – 1.3000 Crucial The Euro tumbled to a fresh monthly low of 1.2954 as French President Francois Hollande overtook Nicolas Sarkozy as the president of France, while the two main parties in Greece failed to obtain a joint majority, and the

USD Threatens Bearish Channel- Index Eyes 9950 as Techs Point Higher
Currencies

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The greenback is markedly higher in North American trade with the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) advancing 0.28% on the session after moving nearly 76% of its daily average true range. April non-farm payrolls disappointed today with a print of just 115K, missing forecast estimates for a read of 160K. While the unemployment rate surprisingly declined to 8.1% from 8.2%, it’s important to note that the decline can

Lower Eurozone Producer Prices Fail to Stimulate Euro Volatility
Currencies

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THE TAKEAWAY: PPI numbers come in lower than expected -> high energy prices continue to affect producers -> Euro trades within tight range Producer price inflation in the 17-nation Eurozone increased less than expected in March, representing the sixth consecutive monthly drop in the gauge. The month-on-month number came in at 0.6% vs. the 0.5% predicted by economists, while the yearly number was 3.3% versus the expected 3.4%. The numbers