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US Session: USD Rallies Back on Weaker Equities The lack of follow through in risk correlated trades has definitely raised some concerns over the sustainability of this risk rally. In particular, the better than expected Chicago PMI and U. of Michigan Confidence failed to translate USD weakness as the EURUSD collapsed to 1.4720. Intresetingly, the [...]

European Session: BoJ Announces Withdrawal Of Stimulus Yesterday’s better than expected US Q3 GDP has revitalized risk appetite; sending equity markets higher across Europe and the US yesterday, and providing positive momentum through to Asian indices overnight. The 3.5% annualized Q3 figures exceeded forecasts for 3.2% and indicated the first expansion in the US since [...]

PRECIOUS – Gold Rises Toward $1,050/oz On Economic Optimism * Dollar drops versus euro on strong U.S. economic data * Gold recently rises in tandem with equities market * U.S. GDP data grows stronger-than-expected 3.5 pct in Q3 NEW YORK/LONDON, Oct 29 (Reuters) – Gold rose toward $1,050 an ounce on Thursday, gaining 2 percent [...]

COMMODITIES – Markets Ramp Up, End Of Recession Eyed NEW YORK, Oct 29 (Reuters) – Oil, metals and grains prices jumped about 3 percent each on Wednesday, despite worries about oversupply, after data showing U.S. gross domestic product growth sparked optimism the recession may be winding down. U.S. GDP expanded 3.5 percent in the third [...]

US Session: US Q3 GDP Beats Forecasts, Boosts Risk Appetite The day’s trading has been dominated by the US Q3 GDP release which convincingly beat expectations with a 3.5% annualized pace of growth vs. expectations for 3.2% (-0.7% last). At first, FX markets seemed tentative in pushing EURUSD higher, but European indices quickly turned positive [...]

European Session: Risk Aversion Puts EURUSD And Gold On The Ropes Equities traded heavily throughout the day yesterday, but it took a large miss in forecasts for US New Home Sales (-3.6% MoM vs. +2.6% expected) to add the catalyst for a USD rally late in the session. The numbers are particularly worrying considering that [...]

PRECIOUS – Gold Falls Below $1,030/oz As Dollar Recovers * Gold, silver, platinum slip to three-week lows * Weak U.S. home sales cast doubt on economy, lift dollar NEW YORK/LONDON, Oct 28 (Reuters) – Gold prices ended lower on Wednesday, hitting 3-week lows and breaking below technical support at $1,030 per ounce, as a resurgent [...]

COMMODITIES – Oil, Copper Lead Broad Decline As Dollar Surges * Weak U.S. new home sales hit risk appetite, boost dollar * Commodity bulls beat further retreat on economic worries * Oil, copper down over 2 pct; gold, grains, sugar fall NEW YORK, Oct 28 (Reuters) – Oil and copper closed down more than 2 [...]

US Session: Norges Bank Raises Rates, Dollar Trades Sideways Ahead Of Q3 GDP It’s been a choppy day’s trading for the USD; equity markets across Europe and the US have traded very heavily but there has been little decisive movement for the DXY (76.25 last). Gold has struggled to make gains above its crucial $1030 [...]

European Session: US Recovery Seems to be Losing Momentum Risk appetite was slightly weaker in the Asian session, as equity markets failed to shake off a weak US consumer confidence figure. The USD strengthened as a consequence, with the commodity currencies losing the most ground. We believe the markets are starting to really take notice [...]