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Today’s Trading Edge: USD/JPY –Dollar remains bid ahead of Yellen’s semiannual testimony to Congress

Posted by WorldWideMarkets . on Jul 10, 2017 9:45:36 PM

Early price action in Asia has the U.S. dollar higher by 0.2% slightly higher above the 114 level against the yen.  The greenback is still riding some of the momentum from Friday’s strong nonfarm payroll report.  On Friday, the June nonfarm payroll came in at 222,000, well above the 178,000 estimate.  The May report was also revised higher.  With most signs continuing to point to a stronger US economy, the case for policy normalization will be easier for Fed Chair Yellen.  Yellen will deliver her semiannual testimony to Congress on Wednesday. 

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Topics: $USDJPY

Today’s Trading Edge: Gold’s bearish slide supported on Fed’s view that gradual removal of accommodation as appropriate

Posted by WorldWideMarkets . on Jul 9, 2017 9:06:15 PM

Gold prices started the trading week slightly higher following last’s week slide that took price below the 200-day SMA.  On Friday, the Fed released their Semi-Annual Monetary Policy Report.  The central bank told Congress that the US economy will strengthen and that further rate hikes are on the way.  The Fed also noted that financial system vulnerabilities remained modest and that the economy grew at a moderate pace over the first half of the year.   

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Topics: gold

Today’s Trading Edge: Oil continues to climb higher following first drop in US drilling since January

Posted by WorldWideMarkets . on Jul 2, 2017 10:49:58 PM

Oil prices rose 0.5% on early on Monday, supported by the first fall in US drilling activity since January, despite rising output from OPEC despite a pledge to cut supplies capped gains. Since hitting a 10-month low, prices have rebounded sharply. 

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Topics: US Crude oil, $OIL

Today’s Trading Edge: Oil climbs higher in light trade as several markets are closed for holiday

Posted by WorldWideMarkets . on Jun 25, 2017 8:16:48 PM

Oil prices rose around 0.5% in thin trading as Indonesia, Singapore, Malaysia, India and the Philippines were closed to observe the end of Ramadan.  Last week saw oil prices fall to a 10-month low before rebounding at the end of the week.

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Topics: US Oil, US Crude oil, $OIL

Today’s Trading Edge: USD/CAD loonie rallies as stronger retail sales raise expectations for a July hike

Posted by WorldWideMarkets . on Jun 22, 2017 6:17:02 PM

On Thursday, Statistics Canada showed retail sales beat the analyst forecast of 0.3% and rose 0.8% to $48.6 billion in April. Sales were up in 9 of 11 subsectors, representing 71% of total retail trade. Excluding sales at motor vehicle and parts dealers, retail sales climbed 1.5%.

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Topics: Bank of Canada, USDCAD

 

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