Forex Trading Alert: USD/CAD – Third Time Lucky

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Posted by Nadia Simmons & Przemyslaw Radomski - Sunshine Profitsadia Simmons - Sunshine Profitsski - Sunshine Profitsadia Simmons - Sunshine Profits

on Tuesday, 26 July 2016 18:36

Yesterday, the greenback moved sharply higher against its Canadian counterpart as the price of crude oil slipped to the lowest level since late Apr, weighing on the Canadian currency. Thanks to these circumstances, USD/CAD broke above important resistance zone and closed the day above it. Will we see further rally in the coming days?

In our opinion the following forex trading positions are justified - summary:



Looking at the daily chart, we see that although EUR/USD broke above the upper border of the purple declining trend channel earlier today, this improvement was temporary and the exchange rate reversed and declined, invalidating earlier breakout. This is a negative signal, which suggests further deterioration. However, this scenario will be more reliable if we see a daily closure under the upper line of the formation.

Having said the above, let’s check whether anything changed on the medium-term picture or not.




Large Investors Become Major Buyers of Bitcoin

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Posted by Chris Vermeulen - The Gold & Oil Report

on Monday, 25 July 2016 06:19

The world has woken up to the fact that the Central Banks are a curse, rather than a boom to the global economies, and their time left is slowly coming to an end because of new technologies and currencies.

People are starting to park their money in digital currencies, like Bitcoin, rather than parking them in fiat currencies. This is primarily due to the Negative Interest Rate Policy as well as Zero Interest Rate Policy of the Central Banks, which explains the sharp rise in the price of Bitcoin, this year as seen in the chart below.

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Dollar Bull Case Intact: It Is All About The Perspective

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Posted by Marc Chandler via Seeking Alpha via Seeking Alpha

on Wednesday, 20 July 2016 09:00

saupload perspectiveSummary

Our bullish dollar outlook was based on divergence and we judge it to still be intact.

The Dollar Index has been trading broadly sideways since March 2015, but never did more than a minimum retacement of its earlier rally.

The Dollar index is at it highest level since March today.

....continue reading HERE



On Bitcoin: A New Asset Class Worth Owning



A New Asset Class Worth Owning

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Posted by Chris Vermeulen - The Gold & Oil Reportort

on Tuesday, 19 July 2016 06:48

'Bitcoin' is on a tear away rally. Its' performance, over the last year, has been outstanding and it has outperformed most 'asset classes', by a wide margin. It is probably the only asset class which beats out both gold and silver, in 2016. Why is it shooting into outer space?

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People look at alternate asset classes when their confidence in traditional assets fades. Since the beginning of the year, both the stock and the commodity markets have been on a roller coaster ride while catching both the bulls and the bears, on the wrong side.




Dollar Soars To One-Week High

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Posted by Reuters

on Monday, 11 July 2016 12:43

global finance faces 9 trillion dollar stress test as dollar soars 05The dollar rose to a one-week high against the yen on Monday, climbing almost 2%, following Japanese Prime Minister Shinzo Abe's call for a fresh round of fiscal stimulus after a victory for his ruling coalition in local elections.

News that the stimulus could reach 10 trillion yen ($97.5 billion) helped Japan's stock market jump 4% and sent the dollar soaring against the Japanese currency. The Bank of Japan is expected to provide additional easing to keep interest rates low and the yen weak to make sure stimulus spending can gain traction.

"It now looks like there’s coordinated fiscal and monetary policy," said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in New York. "If you get a fiscal policy that is expansive...the natural thing is to finance that with money-printing." 

Investors had been buying the yen through much of this year as the Bank of Japan chose to hold off on currency intervention. Abe has promised to revive the economy with hyper-easy monetary policy, fiscal spending and reforms, a collective program known as "Abenonics."

"It looked like part of what held the Bank of Japan back several times earlier this year is it just didn’t make sense to expand (quantitative easing) if there’s no coordination with fiscal policy," Anderson said. "But now there is."

The dollar rose as much as 2.1% to a high of 102.66 yen, on pace for its biggest one-day gain since April. It was last up 1.9% at 102.48 yen. 

The greenback fell as low as 99 yen on June 24 in the aftermath of Britain's decision to leave the European Union, which drove investors to the Japanese currency and other safe havens.

The dollar hit a four-month high of 96.793 against a basket of major currencies, having already received a lift by a U.S. jobs report that outpaced even the loftiest expectations on Friday. The report pushed investors to price back in the chance of an increase in interest rates by the Federal Reserve before the end of the year.

The dollar index was last up 0.2% at 96.501.

Sterling reversed earlier losses to turn positive on the day after Theresa May emerged as the only remaining candidate to lead Britain's ruling Conservative Party and become prime minister following rival Andrea Leadsom's exit from the race.


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