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As the USD has hit lows against a basket of currencies, cable has rallied steadily over the past 4 weeks. Trading at just below the $1.68 level, further greenback weakness could be the prelude for us moving closer to the $1.70 level. CPI data released today may well impact on the direction for the dollar.
The [...]

Oil roared past the $80 level, as traders reacted to positive data from US industrial production. Output at US factories, mines and utilities inched higher by 0.1%, giving oil bulls further hope that we are on the road to recovery. All eyes now turn to the release of the weekly inventory numbers, due for release [...]

Sterling Speculators Await Release Of BoE Minutes
There has been some consolidation in FX overnight after yesterday’s USD rally pushed EURUSD to threaten its 12 month uptrend and test major resistance at 1.4810. The catalyst appears to have been comments from the Fed’s Yellen that suggested higher rates could help stem “damaging” leverage; yet another piece [...]

The price of gold moved further north as the dollar’s decline continued. Whilst the Fed continues to reiterate that Interest rates will remain low, investors appear willing to buy in the precious metal. We are still looking to breach the $1,150 level.
The IMF announced that they sold 2 tonnes of gold to the central bank [...]

US Session: The Dollar Recoups Losses On Fed-Speak And Mediocre Equity Market Performance
The USD has recouped some of its recent losses today as equity markets failed to sustain the positive momentum of yesterday’s strong rally. EURUSD has sold off markedly from its early visit to 1.4999 highs to touch a low of 1.4826; dangerously close [...]