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COMMENTARY

• FTSE remains on course to reach 2007 peak
  Written by Fawad Razaqzada
  Last updated 5/8/2013 5:43:57 AM ET
  It will be very interesting to see what the FTSE does from here after it took out the 6550 resistance level yesterday. I think there’s a great chance we will see more gains going forward, although, as ever, can’t rule out the possibility of a small pullback in the near-term...
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• Onward and Upward
  Written by Neal Gilbert
  Last updated 5/7/2013 4:29:04 PM ET
  It was another risk positive day in North America as equities across the world surged to all-time highs that also lent some strength to the USD. The record breakers for today were the DAX, Dow, and S&P500 which have all been on an incredible hot streak for the last five months. Of course, when we get to notable levels, the inevitable questions become; how long it will last and how high can it go? As of now the answers appear to be; until further notice and higher than you think.
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• Coiling EUR/USD Presents Straddle Setup
  Written by Matthew Weller
  Last updated 5/7/2013 1:54:52 PM ET
  While it’s difficult to reliably determine whether the EUR/USD will break higher or lower from here, a consistent, high-volatility continuation in the same direction as the breakout is likely, creating the ideal situation for a straddle trade, where we look to buy if the pair rallies conclusively through resistance or sell if it drops through support.
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• Precious metals fall sharply, but off lows
  Written by Fawad Razaqzada
  Last updated 5/7/2013 12:22:42 PM ET
  Precious metals fell sharply this morning with gold dropping more than $20 at one stage. Investor sentiment remains shaky following that vicious sell-off in April which accompanied a 174-ton worth of outflows from physically-backed gold ETFs over the month. The outflows have continued into May with a further 13.7 tons already been withdrawn...
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• Crude oil mixed ahead of Chinese trade figures
  Written by Fawad Razaqzada
  Last updated 5/7/2013 11:53:48 AM ET
  Crude oil spent most of the day shifting between the positive and negative territories as investors weighed demand and supply forces acting on the price. On the demand side, last week’s...
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• DAX at record high
  Written by Fawad Razaqzada
  Last updated 5/7/2013 6:55:09 AM ET
  The German DAX index has finally caught up with its US counterparts – the Dow and S&P 500 – in climbing above the 2007 highs. Investors are piling into equities as the squeeze on yields continues with the RBA becoming the latest major central bank to further loosen its policy overnight...
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• Sell Opportunity as EUR/GBP Hits 3.5-Month Lows
  Written by Matthew Weller
  Last updated 5/6/2013 1:44:55 PM ET
  After bouncing from support at the .8400 handle late last month, the EUR/GBP is once again pressing against this key support level. Significantly, the late April bounce only reached the shallow 38.2% Fib retracement of the previous downswing, suggesting that the bears remain in control of trade. If the sellers are able to push rates down through .8400 support early this week, another leg lower toward .8350 is likely.
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• Precious metals mixed after NFP surprise
  Written by Fawad Razaqzada
  Last updated 5/3/2013 11:38:32 AM ET
  Precious metals squeezed higher this morning, adding on to their gains from yesterday. While outflows from gold-backed ETFs are still on-going, demand has risen in the physical market and this is one of the main reasons why prices have stabilised somewhat...
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• Oil jumps of cheerful jobs report
  Written by Fawad Razaqzada
  Last updated 5/3/2013 10:39:06 AM ET
  Following on yesterday’s sharp rally, crude oil was a touch firmer first thing this morning with investors shrugging off a weaker than expected Chinese services PMI overnight. Sentiment was cautiously optimistic ahead of the nonfarm payrolls report, after the ECB cut its main refinancing rate by 25 basis points yesterday...
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• Mario vs. Wario
  Written by Neal Gilbert
  Last updated 5/2/2013 4:09:13 PM ET
  North American markets today were in a positive mood as long as you were a fan of the USD and the equity markets as both Dow and S&P flirted with 1% gains. The USD dominated her rivals as the EUR, GBP, AUD, NZD, and JPY all fell against the greenback to varying degrees. The biggest loser on the day though was the EUR which was caught in the tailwind of a 25 basis point cut by the European Central Bank along with a more sour tone from ECB President Mario Draghi. The ECB decision to cut rates wasn’t all that surprising as a majority of pundits were expecting it, and when the announcement was made, the EUR actually gained some strength on the back of it only being a quarter point cut instead of a half point.
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• AUD/NZD Sell as Downtrend Endures
  Written by Matthew Weller
  Last updated 5/2/2013 1:51:56 PM ET
  One of the most consistent relationships trends in the currency market over the past 2 months has been the enduring downtrend in AUD/NZD. With rates chopping around 1.2100, the trend has taken a bit of a breather so far this week. As of writing though, the bearish trend line is looming just above current market prices, ready to push the pair down toward the 127.2% Fibonacci extension of the mid-February to mid-March rally at 1.2000 or even the 4-year low at 1.1935.
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• Crude oil rallies sharply
  Written by Fawad Razaqzada
  Last updated 5/2/2013 1:05:59 PM ET
  Crude oil rallied sharply on Thursday, wiping out all of the losses from the previous session. Investors put their concerns about demand behind them after the world’s major central banks signalled they are in no hurry to withdraw liquidity from the markets...
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• Precious metals rise after ECB cuts interest rates
  Written by Fawad Razaqzada
  Last updated 5/2/2013 11:35:27 AM ET
  Today saw precious metals recover a big chunk of their losses from yesterday with gold rising 1.5% and silver 2.5%. Last night, the Fed said it is maintaining its ultra-loose monetary policy and may even decide to increase QE if necessary. On top of this, the ECB today decided to cut its interest rates by 25 basis points to 0.5%...
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• Quick USD/JPY Sell Ahead of the Fed
  Written by Matthew Weller
  Last updated 5/1/2013 1:20:50 PM ET
  The recent poor economic data suggests the Fed may be more dovish than usual, opening the door for U.S. Dollar weakness. The USD/JPY has been just holding above support at 97.00, but a downbeat statement could take the pair below 97.00, opening the door for a quick run to support at the next Fib level (the 78.6% retracement of the mid-April bounce near 96.65.
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• Crude oil plunges on renewed demand concerns
  Written by Fawad Razaqzada
  Last updated 5/1/2013 11:56:31 AM ET
  Following the release of some disappointing global economic data yesterday and China’s manufacturing PMI overnight – which came in a touch weaker than expected – sentiment was evidently bearish. Sure enough...
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