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Extra Forex Markets Research

Cryptocurrency Overview

Bitcoin and other cryptocurrencies are rising sharply in early morning trading but over the ...

Bitcoin and other cryptocurrencies are trading very weak over the past 24 hours; Bitcoin Cash is the top losers at -8.94% followed closely by Bitcoin at -8.22%. Litecoin and Ethereum aren't fairing any better at ...

Bitcoin is trading slightly firm in early hours of trading but still remains weak (2%) over the past 24 hours. The other cryptocurrencies are also trading lower with Bitcoin Cash the top losers at -8.27%; Litecoin ...

Cryptocurrency Overview Bitcoin is trading slightly softer in early hours of trading but still remains strong over the past 24 hours. The other cryptocurrencies are trading mixed with Litecoin the top gainer up 6.73%; Bitcoin Cash top loser, down 1.78% and Ethereum, down 1.23%. In the news, ...

(Chart by Reuters)

Strategy: Support at $10248 for $10478 Short-term view: BTC/USD has ...

Bitcoin is consolidating below the 10000 mark and other cryptocurrencies are trading mixed over the past 24 hours; Bitcoin Cash is the top gainer at +10.72% followed by Bitcoin at 2.51%, Litecoin is the top loser, down 2.72%. In the news, the CFTC chief in a hearing in Senate said that any ...

Bitcoin and other cryptocurrencies are trading higher over the past day also looking to move above recent choppy trading ranges. Over the past 24 hours; Litecoin is the top gainer at +17.97% followed by Bitcoin at 8.53%. Ethereum and Bitcoin cash, on the other hand, is up +6% each. In the ...


Cryptocurrency Overview Bitcoin is stuck in a range and we may see this persist. Other Cryptocurrencies are fairing slightly better over the past 24 hours; Bitcoin Cash $1320.39, Ripple $0.8011, and Ethereum $825.75 were all improving in early hours trading with ripple the top gainer. In ...

(Chart by Reuters)​

Strategy: Resistance at $10257.34 for $9507.67 Short-term view: BTC/USD has broken key levels and we may see losses accelerate. MACD is still trending below the zero line and we expect a dip to 9507.67. A break above 10257.34 to open 10840.15.

In the G10 currencies this week, NOK and JPY are the top gainers while USD and CAD are the top losers. EURUSD reached the 1.21 mark in early morning trading aided by a hawkish ECB monetary policy minutes on Thursday and a weak dollar. We also saw headlines from Germany where Chancellor Angela Merkel and the SPD political party reached an initial deal in coalition talks. USD continued its weakness despite the US CPI and Retail sales reporting strong numbers. USD week close ...

The US president Trump’s selection of Jay Powell as the new Fed chair has left many underwhelmed. As we head into the end of the year it is high time we look at how the Federal Reserve members stack up on the hawks/doves scale as new order takes charge. However, before we look at the ...

The ECB will meet on Thursday but no change to the policy is expected. We can expect some revision in forecasts with the most important being CPI projections. This is because EURUSD has risen to 1.19 from 1.11 when July projections were made. No change in CPI projections will be seen as bullish as this will be a green signal to the market that October meeting will set the tapering policy over the coming months.

In terms of the press conference, ECB president Draghi would use the occasion to remind the market that EUR strength is an impediment to inflation though he may also ...

FX Market Macro Wrap 02 Sep 17

USD was relatively buoyant at the start of the week thanks to strong ADP employment data and upward revision in the Q2 GDP. However, weak US PCE index and nonfarm payroll data has disappointed dollar bulls and hence, we may see some consolidation ahead of the Fed speakers next week. We will hear from Fed’s Brainard and Dudley on Tuesday and Friday respectively.

In terms of the other G10 currencies this week, GBP is the unexpected gainer despite any significant release. The ...

Below is an FX related calendar for today's trading events - including Non-Farm Payrolls.

Rahul Khanna
Aug 03, 2017 - 10:47
GBP trade weighted index

The BoE interest rate decision is due at 1100 GMT but we will also have the UK inflation report and the MPC meeting minutes followed by the Governor Carney press conference at 1130 GMT. Looking at the GBP price action over the past few weeks it seems that the investors are ...

Rahul Khanna
Aug 02, 2017 - 11:32
USDINR 20 Jul 17

USDINR has completed a triangle pattern after breaking key 64.00-64.20 area. Next key level comes in at 63.60 where a break will open 63.00. In order to see improvement MACD needs move above the zero line and 64.25 needs to be regained.

USDINR Daily Chart (6-month).

Below is an FX related calendar for today's trading events (Wednesday 2nd August 2017)

The week marked a change of trend for CHF now the weakest currency. However, there was no change in outlook for USD as the greenback fell further following a dovish FOMC statement (with language on inflation changed from running “slightly below” to “running below” 2%). The US Q2 GDP also failed to excite the market as it came as expected. The top currencies for the week were SEK and NOK both boosted by better domestic data and a rise in crude prices, respectively. The EUR also added to its gains versus the low yielding currencies as the German 10-year bunds fell ...

Looking ahead, next week is action packed, on Monday, OPEC and the non-OPEC meeting will get the most attention. For EUR traders Preliminary Manufacturing PMI will be the key with upside risk to EUR from positive numbers. On Wednesday, BoJ Deputy Nakaso and RBA Lowe will grab some attention along with UK Q2 GDP (Preliminary) numbers. However, the main focus will remain on the FOMC rates decision. Friday will also be important as the US Q2 GDP (advance) will become due.

This was a tough week for USD with losses across the board as we said ...

USDINR 20 Jul 17

USDINR has now found support at 64.20 area, just above the support line. An upside to 64.75 is likely but MACD needs to improve further to raise chances of a bigger bounce to 65.00. Below 64.20 opens 63.89-64.00 area.

USDINR Daily Chart (6-month).

FX Strategy 18 Jul 17

Weekly FX Technical Analysis round-up – Tuesday 18th July 2017

Click the image or here to read the full article

The week is marked by a return of the risk appetite and return of crude strength. In terms of the weekly standings, commodity currencies reign supreme with AUD, CAD and NOK top three. In the equities market, Nikkei 225 has closed +0.95% for the week and even though European equities are mixed today, we have seen decent gains since the start of the week except for FTSE; DAX +1.75%, CAC40 +1.53% and IBEX +1.62%. In the rates market, US and EU 10-year yields have now diverged thanks to the US CPI miss. In the energy space, WTI front month has gained nearly $2.5 to reach ...

Is Abenomics going out of the syllabus in Japan?

The short answer is no. However, let’s dig into the details.

After the Liberal Democratic Party’s (LDP) crushing defeat in the Tokyo assembly election, there is now speculation that Prime Minister (PM) Abe may be faced with trouble and the need for some changes to economic policies may be pertinent. PM Abe can do this in two ways, firstly, he can implement a regime change in economic policies through a cabinet reshuffle or changes at the Bank of Japan (BoJ) or, secondly, he can focus on closely aligning ...

We see risk to the dollar still skewed to the downside from both Yellen’s testimony and US CPI. We heard two Fed speakers yesterday (Harker and Brainard are voters) and both were dovish; Fed Harker comments to the WSJ were more surprising as he had earlier given more hawkish signals while Brainard comments were more or less as expected. USD and the US yields fell on these dovish comments which highlight market concern for dovish Fed talks. This is why we see USD vulnerable to a dovish Yellen. In the case of rhetoric on growth and balance sheet normalisation, it is unlikely that ...

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