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EURUSD - Current Price $1.05928 EURUSD saw an early dip to $1.0570 lows, but there has been short-covering since with the pair currently trading back to around unchanged in a relatively small range. Despite some decent data out of the Eurozone, any major recovery attempts look fragile, with the single currency continuing to be dogged by geopolitical concerns. Looking ahead, University of Michigan sentiment and US New Home Sales are just about all we have to look forward to on the sched…

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EURUSD - Current Price $1.0509 (-$0.0028) EURUSD is on the back foot this morning, tumbling from the mid-$1.0500s to its lowest level since 11th January due to the political uncertainty surrounding the EU as anti-euro candidates like Marine Le Pen are making strong inroads. The single currency will continue to fall if German IFO comes in weaker along with cooler pan-Euorzone CPI. In terms of technicals, we target support at the 11th January low at $1.0454 followed by the January 4th lo…

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EURUSD - Current Price $1.07316 The USD continues to trade on the defensive this session after President Trump's inauguration speech raised concerns about potential protectionist trade policies. Eur/Usd which slid to an early low near $1.0680 has bounced back to clinch a daily high of $1.0755 ahead of pan-Eurozone consumer confidence and speeches from ECB President Draghi and Chief Economist Praet. From a technical view, we look for resistance around the $1.08 round figure mark fol…

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EURUSD - Current Price $1.0622 (-$0.0027) EURUSD is nursing modest losses ahead of the European cash equity market open amid broad risk aversion in financial markets. This follows a report in the Sunday Times over the weekend that UK PM Theresa May will signal she is prepared to leave the single market in a speech tomorrow. The pair reached a low of $1.0593 in Asia although swiftly reclaimed the $1.06 handle. Looking ahead, Italian CPI and Euro Zone trade data make up the data slate wh…

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Volatility in the markets is very likely to continue and even increase in the coming months. This could provide many profitable opportunities to the savvy trader. Geo-political risk is moving to the forefront of investors’ minds at present and is guaranteed to be increasingly influential in decision making for the remainder of 2016. We have the imminent Brexit referendum taking place on 23rd June; since its announcement on 20th Feb we have seen high volatility in Cable with…

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As predicted, the Federal Reserve kept short-term interest rates unchanged at near zero yesterday but signalled that a rate hike before the turn of the year remains a possibility. As was the case in September, the central bank’s accompanying statement did not explicitly mention concerns over the Chinese economy as a reason not to raise rates for the first time in a decade. Last month they cited turbulent financial markets and uncertain economic developments overseas as reasons fo…

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Overnight the Bank of Japan Governor Kurodo said that “the Yen may not weaken much further on real effective exchange rate basis”. The comments led to an immediate strengthening in Yen crosses, as traders interpreted the comments; that the BoJ will not be easing further in the near future. USDJPY session high was 124.65, following Kurodo’s comments the currency pair to session lows of 1.2245. The governors comments were retracted by a Japanese official, in what has be…

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On Monday as tensions seemed to escalate, with rumours of deadlines for a Ukrainian surrender of warships in the Crimean region. Investors sought safe havens for assets, the precious metal was bid, reaching multi-month highs trading up to $1350/oz, in the currency markets Swiss Franc and the Japanese Yen strengthened, with the Russian Ruble and Ukrainian Hryvnia reaching all-time lows. The Russian central bank intervened in the markets due to the weakening Ruble, and hiked interest rat…

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The Japanese Yen has strengthened in the FX market against the greenback during the last 48 hours, reaching a low 102.515. On Thursday data released from the US jobless figures showed that economy is still finding its feet. The Yen has strengthened trading through to a 102 handle, with expected support from previous lows at 102.49 on the 17th December and 102.46 on the 12th December.…

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On Tuesday as the FTSE 100 closed at a 5 and half year high, as the potential takeover of utility company Severn Trent. Equity indices in Europe and the US have powered higher, fuelled by investors search for a return. The prolonged period of record low yields on government paper, and the cost of debt financing has led to an increase in M&A activity. The dollar has been strong across the board, reaching multi-week and month highs against all of the majors. The depreciation in the Y…

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S&P says there is more than a 33% chance of Japan being downgraded from AA- Scottish independence: Treasury says currency pact case 'not clear' - BBC News The 100¥ print has been eyed for some time as with the dramatic weakening of the Yen, however the USDJPY cross lost momentum around 99.85 UK PM Cameron says he will look at implementing tax breaks for fuel efficient cars and will block any further rises in duty on petrol Japan's economy…

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Nearly one in five UK companies favour leaving the EU - Bloomberg The Bank of Japan raised its assessment of all its regions for the first time since July 2012, citing a pickup in the global economy and resilient domestic demand, after unveiling unprecedented easing measures earlier this month - Bloomberg Gold and Silver continue their declines, spot Silver trading $24.50 and spot Gold traded as low as $1424.90/oz Dutch retail sales were down 4.8% YoY for February UK…

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Trading yesterday in the UK had little macro news to drive markets, with the media focusing on the passing on first female Prime Minister of the UK. Thatcher was a controversial character, who in the City of London is usually revered and hailed for reviving the UK economy, but her policies were not without critics, especially from those who lived in communities with an industrial/mining focus. The media is awash with opinion pieces from all parts of the political spectrum, but there is…

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NIESR released their forecast for UK growth yesterday afternoon, for the 3 months to February of -0.1%, signalling the likelihood of a triple-dip recession. Worryingly their report details that they expect “output to pass its peak in early 2008 until 2015.” FTSE 100 closed at a new 5-year high as investors shrugged of concerns following poor UK macro data Sterling strengthened throughout the US and Asian sessions, after trading at 2 and half year lows in recent days…

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Dow Jones closed at an all-time record high of 14,254 FTSE 100 touches a post Lehman Brother’s intra-day high 6,342 British manufacturers must not be “blindsided” by the importance of trading with Europe because the “big future for exports” is with emerging markets, according to Jim O’Neill, chairman of Goldman Sachs Asset Management - Daily Telegraph Capital flight from Cyprus has accelerated since eurozone politicians began threatening…

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