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COMMENTARY

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  Attribution Effect: What Road Rage Drivers Can Teach Us About Trading
  Written by Matthew Weller
  Last updated 5/17/2013 3:01:40 PM ET
  What do trading and reckless driving have in common? More than you would think! See what the Attribution Effect is, and how it can be affecting your perception of your trading results.
  1 comment
• Precious metals extend losses as stocks & dollar both rally
  Written by Fawad Razaqzada
  Last updated 5/17/2013 12:30:38 PM ET
  Precious metals are again trading sharply lower with gold looking set to close down for a seventh straight session today. This would be the yellow metal’s worst losing streak since March 2009 – hardly surprising given there was a further 7.1 tons of outflows from gold-backed ETFs yesterday...
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• Crude oil pares gains as the dollar rallies
  Written by Fawad Razaqzada
  Last updated 5/17/2013 11:38:11 AM ET
  Crude oil was sharply higher for much of Friday’s session with both Brent and WTI contracts up in excess of 1% each. It looked like investors were again showing no signs of concern about the prospects of weak oil demand and excess supply with sentiment boosted by the rising equity market. However a sharp sell-off late in the day saw both contracts lose most of their earlier gains. WTI came very close to that $97/98 resistance range, where an eight-month-old bearish trend line comes into play, before reversing. This suggests the sell-off was probably due to profit-taking ahead of the weekend and also as the dollar firmed up in the wake of some hawkish comments by several officials from the Federal Reserve. If and when WTI takes out this $97/98 resistance range then we could well see some significant gains going forward. For now though I remain moderately bearish on oil.
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• US futures move higher before sentiment report
  Written by FX360 Market News
  Last updated 5/17/2013 9:52:07 AM ET
  Analysts are expecting a positive reading from the University of Michigan and Thomson Reuters report.
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• Fed comments send sterling lower
  Written by FX360 Market News
  Last updated 5/17/2013 8:23:54 AM ET
  Federal Reserve Bank of San Francisco president John Williams suggested the Fed could end its quantitative easing programme before the end of the year.
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• EUR/USD trade idea
  Written by Fawad Razaqzada
  Last updated 5/17/2013 7:12:05 AM ET
  The EUR/USD is again testing that long-term support trend line on the daily chart at 1.2850/75 where we also have the 50% retracement of the last major rally. Yesterday it created a doji candle here, suggesting there is indecision in the market and so, ahead of the weekend, the sellers could lighten up their positions, thus cause price to squeeze higher. Meanwhile on the 1 hour chart we can clearly see the MACD is diverging with price, which is also an indication that the momentum is shifting. But there is a shorter-term bearish trend line capping the upside for now. Thus until and unless this is broken it may pay to remain on the side lines.
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• The Fed: To Taper or Not to Taper
  Written by Neal Gilbert
  Last updated 5/16/2013 4:23:31 PM ET
  Risk markets took a bit of sojourn from their normal modus operandi today by mixing up reactions to some rather disappointing news releases. Over the past few months, we have typically seen a relationship between good US data and a reaction of strength in the USD. Coincidentally, we have also seen a rise in US equities at the same time. This is opposite of the usual risk on / risk off type of mentality prior to the most recent version of Quantitative Easing where good US data was actually bad for the USD and good for equities. The speculation on when and by how much QE would be either ended or tapered has turned investors in to mind readers, trying to absorb the thought and rationale of Federal Reserve Chairman Ben Bernanke and his merry band of bankers.
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• GBP/JPY Sell Off Resistance at 4-Year Highs
  Written by Matthew Weller
  Last updated 5/16/2013 2:14:26 PM ET
  The GBP/JPY, like all yen pairs, continues to trade at an elevated level as we approach the end of this week. In fact, the pair is trading at the highest price in nearly 4 years. However, reliable technical pattern that has formed so far this week suggests the recent rally could run out of steam ahead of the weekend.
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• Crude oil rallies as investors shrug off demand concerns
  Written by Fawad Razaqzada
  Last updated 5/16/2013 11:22:28 AM ET
  Crude oil staged an impressive kick-back rally late yesterday which saw WTI cut nearly all of its steep losses from earlier and pushed Brent into the positive territory. Given the fact that we saw some really bad GDP figures from several European countries, which further heightened demand concerns for oil, the rally was surprising – to say the least – and probably caught many sellers off-guard...
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• US CPI inflation lower than forecasts
  Written by FX360 Market News
  Last updated 5/16/2013 9:25:17 AM ET
  Consumer Price Index inflation in the US has fallen by more than anticipated in April, figures show.
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• Google shares advance above $900
  Written by FX360 Market News
  Last updated 5/16/2013 8:31:58 AM ET
  The technology giant has seen its share price make significant gains following its annual developer conference in San Francisco yesterday.
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• Precious metals on the brink
  Written by Fawad Razaqzada
  Last updated 5/16/2013 7:00:36 AM ET
  Precious metals are taking the brunt of the dollar’s strength today with a pause in virtually all other market as we await US economic data in the afternoon. Gold is falling for a sixth straight session, which is its longest losing run since March 2009...
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• Counter-Trend Buy as NZD/USD Showing Early Signs of Bottom
  Written by Matthew Weller
  Last updated 5/15/2013 1:53:52 PM ET
  While the U.S. Dollar hit a new significant high against most major currency pairs yesterday, the NZD/USD remained auspiciously above support at the 2013 lows in the upper-.8100s. Out of all the major currencies, the Kiwi has shown the most relative strength this week, suggesting it could be the best candidate to watch for a bounce if the dollar rally takes a breather. With a clear stop loss level under this week’s low at .8170, there is a relatively low-risk opportunity to buy near current market rates.
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• Crude oil plunge as concerns over demand intensifies
  Written by Fawad Razaqzada
  Last updated 5/15/2013 10:52:40 AM ET
  Crude oil extended its losses today as concerns over demand intensified after another set of poor economic data. France fell back into a technical recession in the first quarter while Germany – the European economic powerhouse – narrowly avoided going under with an anaemic 0.1% growth...
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• Weak CPI data 'will increase pressure on Fed'
  Written by FX360 Market News
  Last updated 5/15/2013 10:04:01 AM ET
  The US Federal Reserve may not be able to reduce its asset-purchasing programme if tomorrow's data is disappointing.
  0 comments

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