Consumer prices in the U.S. increased by more than anticipated in the month of July, according to a report released by the Labor Department on Wednesday. The Labor Department said its consumer price index climbed by 0.6 percent in July, matching the increase seen in June. Economist had expected consumer prices to rise by 0.3 percent. more...[/QUOTE]
US Dollar weakness and a general push toward counter-cyclical perceived haven assets have seen the Japanese Yen break through an important barrier against the greenback. However, Yen bulls have yet to nail down their gains and they may yet lose them if they can’t do so this month. At the start of August, USD/JPY slipped below an important medium-term monthly-chart uptrend line which had previously held since May 2016. It didn’t remain below it for the entire month but did close out underneath, where, ...
Price is approach the upper bounds of this consolidation range with daily resistance steady at the August 2013 high at 1433. A breach / close above this threshold is needed to validate the breakout with such a scenario eyeing subsequent resistance targets at 1451 backed by the 50% retracement of the decline off the record highs at 1483. Notes: A closer look at gold price action shows gold breaking above the weekly opening-range highs ...
NZDUSD is expected to be the most volatile currency. Ahead of the NZ inflation report, overnight implied vols have jumped by 4.9 vols to 12.25, which is the highest since the June RBNZ rate decision. This implies that NZDUSD ATM break-evens = 34pips(meaning that option traders need to see a move of at least 34pips in either direction in order to realise gains). Interestingly, risk reversals have flipped to positive at 0.1 (albeit relatively neutral), ...
Last week, oil found itself in an ugly position again, but was able to find support via the low-end of a range created during Jan/Feb. The bounce on Thursday brought with it limited follow-through to end the week, however; the price action for the week resolved in the form of a reversal candle that could set into motion some more buying in the days ahead. Next week might not bring with it rip-roaring power, as oil is already failing to ...
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