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October 31, 2014| FX Empire Analyst - Barry Norman

The USD, the Euro, the Pound and the Yen Could Be Volatile In Today’s Session

The US dollar soared to trade at 86.30 gaining for a third session in Asia on Friday. The greenback is trading at 86.30 and is expected to continue to rally. The greenback reached a three-week high against its major counterparts as the U.S. economy expanded more than forecast in the third quarter to confirm the Federal Reserve’s decision Wednesday to end its bond-buying program. The upgraded assessment of the US economy helped send the dollar on its rally and continued to be supported...
October 30, 2014| FX Empire Analyst - James Hyerczyk

Crude Oil Continues to Consolidate

December Crude Oil futures are trading lower today after the market failed to follow-through to the upside, following yesterday’s higher close. Yesterday, the U.S. Energy Information Administration reported in its weekly petroleum status report that U.S. commercial crude inventories increased by 2.1 million barrels last week, maintaining a total U.S. commercial crude inventory to 379.7 million barrels. This puts crude oil inventory near the top of the five-year range for this time of the year. The 2.1 million barrel increase...
October 29, 2014| FX Empire Analyst - James Hyerczyk

Euro, Pound and Gold Flat Ahead of Fed Statement

The Euro, British Pound and gold are trading flat ahead of today’s Federal Open Market Committee announcement at 2:00 pm EDT. Many of the major players are on the sidelines not because of what the Fed may do, but because of what it may say. All traders and analysts agree that the central bank will announce the end of its quantitative easing program while leaving its benchmark interest rate unchanged. Traders and analysts aren’t sure, however, what the Fed will...
October 28, 2014| FX Empire Analyst - James Hyerczyk

Position-Squaring Ahead of Fed Statement Boosts Euro and British Pound

The Euro and British Pound posted modest gains versus the U.S. Dollar on Tuesday. Despite a much better than expected U.S. Consumer Confidence report, traders mostly remained on the sidelines ahead of tomorrow’s Federal Open Market Committee meeting and Friday’s Euro Zone consumer inflation data. Traders expect the Federal Reserve to keep intact its guidance that short-term interest rates will remain near zero for a “considerable time.” The main focus for investors will be on the Fed’s assessment of the...
October 27, 2014| FX Empire Analyst - Barry Norman

Currency Markets Active While Commodities Frozen

The Asian market is trading mixed as Hang Seng was down by 0.91% while Nikkei 225 was up by 0.37% and a CSI 300 was down by 0.87%. Chinese stocks retreated, tempering gains in Japan, Australia and South Korea, amid delays to a link between Hong Kong and Shanghai. U.S. equities climbed on Friday, with Wall Street derailing a four-week slide with its best week this year, as quarterly results from companies including Microsoft and Procter & Gamble inspired investor...
October 24, 2014| FX Empire Analyst - Barry Norman

Forex Market Morning Run Down – USD, EUR, GBP, JPY

The euro recovered in the Asian session after tumbling on Thursday to trade at 1.2657. This morning the euro added 11 points to rebound to 1.2657. Yesterday, Eurozone PMI’s reported on the upside along with Germany. The French manufacturing slid to 47.3 in October, from 48.8 the previous month, Markit Economics said. The median estimate in a Bloomberg News survey of analysts was for a reading of 48.5. A similar index for the services industry fell to 48.1, below the...
October 23, 2014| FX Empire Analyst - James Hyerczyk

Poor U.K. Retail Sales Report Drives GBP/USD Lower

The GBP/USD declined for a third day after a report showing retail sales fell more in September than traders forecast. The led to increased concerns the economy was faltering. According to the Office for National Statistics, U.K. retail sales decreased 0.3 percent from August. Traders and analysts were looking for a 0.1% reduction. Trader believe the poor Euro Zone economy is partially to blame for the weakness. The EUR/USD also traded lower early in the session before short-covering triggered a...
October 22, 2014| FX Empire Analyst - James Hyerczyk

BOE Minutes Show Policymaker Concerns about Weakening Global Economy

The GBP/USD sold-off sharply after the release of the latest minutes of the Bank of England. The minutes showed BOE members saw greater risks to the U.K. from a slump in the Euro Zone economy, damping investor bets on an increase in interest rates. According to the minutes, two BOE policymakers voted to increase the official interest rate by 25 basis points and the remaining seven decided to leave rates unchanged. The minutes also highlighted growing pessimism about the global...
October 21, 2014| FX Empire Analyst - James Hyerczyk

Euro Weakens on Talk of New Stimulus

The EUR/USD broke sharply today although it remained inside of last week’s range. The catalyst behind the move was speculation the European Central Bank is looking to buy corporate bonds on the secondary market. This move would increase liquidity, which would put pressure on the currency. The Forex pair likely stayed inside last week’s range and didn’t break further because the ECB is denying the story about buying corporate debt. The GBP/USD edged a little higher on Tuesday in limited...
October 20, 2014| FX Empire Analyst - James Hyerczyk

Crude Oil Not Expected to Get Help from OPEC

December crude oil futures are trading flat at the start of the week. Last week, the market sank to multi-month lows amid concerns over a weakening global economy and its impact of future demand. Value-seekers did jump in when the market reached $79.10, but after the initial thrust, there was no follow-through to the upside. The supply picture remains bearish because of overproduction by the U.S., Russia, and Saudi Arabia. The U.S. continues to overproduce because of improved drilling. Russia...
October 17, 2014| FX Empire Analyst - James Hyerczyk

EUR/USD Set to Finish Week Higher

The EUR/USD is set to close the week higher. The better close is not because of an improving Euro Zone economy, but rather position adjustments by short sellers because the U.S. economy is not as strong as previously estimated. The stronger tone for the EUR/USD was set earlier in the week as weaker U.S. economic data triggered a massive short-covering rally, taking the Forex pair to its highest level since September 23. Contributing to the huge rally was the grossly...
October 17, 2014| FX Empire Analyst - Barry Norman

Currency Markets Sleepy In The Early Morning

Asian currencies are trading on a mixed note with respect to the dollar. No major economic data  is to be released today. Housing data from the US markets in the US session and are expected to improve, and if they do could support the markets in the North American session. The US Dollar index had a subdued session yesterday as compared to the last few days and is currently trading at 84.93. Euro and Pound are trading at 1.2803 and 1.6086...
October 16, 2014| FX Empire Analyst - James Hyerczyk

A Surge in Sovereign Debt Yields Weakens the Euro

The EUR/USD trader lower amid concerns about sovereign debt issues in Italy, Spain and Portugal. These fears triggered a move in sovereign yields not seen since 2010. As fear set in, global investors once again pressured global equity markets. The explosion in periphery bond yields is just another sign that Europe is still vulnerable to a financial crisis. The worse the crisis gets, the more aggressive the European Central Bank will have to be with its quantitative easing plans. This...
October 15, 2014| FX Empire Analyst - James Hyerczyk

Weak U.S. Economic Data Fuels Euro Short-covering Rally

The EUR/USD rallied sharply higher as weaker U.S. economic data triggered a massive short-covering rally, taking the Forex pair to its highest level since September 23. Contributing to the huge rally was the grossly oversold Euro and the extremely overbought U.S. Dollar. Today’s rally may be an indication that investors have shifted out of the dollar and back into the Euro. The Euro rallied versus the dollar after the New York State Manufacturing Index came in at 6.17, well below...
October 15, 2014| FX Empire Analyst - Barry Norman

Is The US Dollar Recovering Or Rallying?

The US dollar recovered late in Tuesday’s session and remains in the green on Wednesday morning as Asian traders sell off safe haven assets such as gold. The US dollar added 16 points to trade at 86.07 as gold eased by $7.80 in the morning session. The U.S. economy is flashing some signals that should boost its currency. Among them: improvement in the nation’s current account deficit; deleveraging in the private sector; a boom in domestic energy production; improving growth...
October 14, 2014| FX Empire Analyst - James Hyerczyk

Expected Decline in Demand Pressures Crude Oil

December Crude Oil futures continued to work lower on Tuesday after the International Energy Agency cut its forecast for oil-demand growth this year and in 2015. Its forecast called for 2014 oil-demand growth by 200,000 barrels a day to just 700,000 barrels a day, its weakest in five years. The weakness in the Euro and British Pound helped drive up the U.S. Dollar which put pressure on December Comex Gold. The recovery in the equity markets also helped pressure gold...
October 14, 2014| FX Empire Analyst - Barry Norman

Monday’s Currency Trading A Boring Affair

Wall Street closed in the negative territory on Monday. The weakness that emerged on US markets partly reflected lingering concerns about global economic growth and monetary policy divergence. European markets steadied Monday, but gains were tempered by skepticism about the European Central Bank's promise of further measures to bolster the region's sluggish economy. European traders are focused on German data that has been printing on the lackluster side over the past weeks. Today traders will get to see ZEW business...
October 13, 2014| FX Empire Analyst - James Hyerczyk

Weaker Dollar Underpins Currencies, Gold

A weaker U.S. Dollar helped underpin the Euro, British Pound and Gold on Monday. The Greenback fell under pressure following remarks by U.S. Federal Reserve Vice Chairman Stanley Fischer that hindered global economic growth could cause the U.S. Federal Reserve to delay its anticipated rate hike. Over the week-end, Fischer said at the annual meeting of the International Monetary Fund that weakness in foreign markets could sway the Fed into altering the pace of the Fed’s rate hikes. “If foreign...
October 13, 2014| FX Empire Analyst - Barry Norman

Chinese Exports and Imports Better Than Expected Supporting the AUD & NZD

Wall Street fell sharply on Friday, with benchmark indexes falling for a third week in a row, as computer-chip manufacturers led the losses after Microchip Technology lowered its sales outlook. Asian shares extended losses on Monday following last week's selloff, with oil markets under pressure ahead of key Chinese data. Volumes may be light with Japan shut for a public holiday.  Canadian markets are also closed for Thanksgiving and the US celebrates Columbus Day with many traders out of their...
October 10, 2014| FX Empire Analyst - James Hyerczyk

Crude Oil Finishes Week Lower on Supply Concerns

December crude oil futures are set to finish the week sharply lower. This week, West Texas Intermediate crude also joined Brent crude in officially turning into a bear market. This occurs when a market declines to 20% below its peak. Rising global supplies and falling demand are the catalysts behind the selling pressure. Production is soaring in the U.S., Russia and Saudi Arabia. In the U.S. shale oil is helping to boost crude oil output the most in more than...
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