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OANDA MarketPulse

OANDA MarketPulse
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MarketPulse is a forex, commodities, and global indices, analysis, and news site. Our main goal is to provide timely and informative commentary on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors. Established in 2006 by a team of securities analysts, MarketPulse publishes insightful commentary daily with full-time coverage of the world’s largest financial markets.
US Dollar Japanese Yen
The Japanese yen has posted gains in the Wednesday session. Currently, USD/JPY is trading at 112.86, up 0.59% on the day. In economic news, the US publishes two key housing indicators. Building Permits is expected to slow to 1.25 million, and Housing Starts are forecast to remain unchanged at...
Janet Yellen - Federal Reserve
Earnings Season in Focus as Stocks Target New Highs US futures are pointing to another higher open on Wall Street on Wednesday, as companies prepare to report on the third quarter at a time when indices are hitting fresh record highs on an almost daily basis. Companies started reporting third quarter...
Mark Carney
Will UK Inflation Data Alleviate Policy Makers Concerns? European equity markets are expected to open relatively flat on Tuesday, as we await some important inflation data from the UK and the eurozone, as well as appearances from Bank of England policy makers. It could be an important week for the UK...
Oil Commodity
President Trump’s update on its Iran relations today has the oil market nervous, overshadowing this evening’s U.S. CPI. Brent and WTI limped quietly into the week’s end overnight with the price action with the price action neutral as the dust settles. WTI outperformed as the DOE Crude Inventories showed a...
Canadian Dollar
The Canadian dollar appreciated after the release of the Federal Open Market Committee (FOMC) September meeting minutes. The U.S. Federal Reserve announced the details of its balance sheet reduction plans at the September meeting and voted unanimously to keep rates unchanged but the big question mark remained on the...
Oil Commodity
OPEC comments unleash pent-up demand in oil overnight with WTI the main beneficiary. Crude oil prices shot higher overnight with WTI gaining a spectacular 2.80% and Brent a more modest but still respectable 1.55%. The gains left WTI comfortably above $50.00 a barrel closing at 50.80 in New York while Brent...
Oil Commodity
Crude oil traded sideways overnight while gold’s rally continued, with volatility dampened by a U.S. and Japan holiday. Oil Crude prices finished broadly unchanged overnight with a U.S. holiday meaning New York trading was subdued. Both Brent and WTI took some solace by comments from the OPEC Secretary-General that they were...
Oil Commodity
Saudi Arabia and Russian backpedalling popped oil’s balloon on Friday as Hurricane Nate props up prices in Asia. The rot set in as both Russia and Saudi Arabia seem to backtrack on their comments that a one-year extension of the production cut was a done deal, with comments softening this stance...
Gold shrugs of a stronger dollar to post an impressive recovery, but it is silver’s rally that will have grabbed technical analysts attention. Gold Down, but not out, best describes gold’s price action on Friday. Having sold off to a low at 1260.00, gold staged a remarkable 18 dollar comeback to...
Bonds
Not quite the running of the bulls as yet but indeed unambiguous signals are building to support the firm USD view. While the markets remain cemented within recent trading ranges, the pendulum is soundly swinging in favour of the dollar as the stars continue to align in support of...
CAC 40
The CAC index has posted slight losses in the Wednesday session. Currently, the CAC is trading at 5,350.00, down 0.32% on the day. On the release front, services readings were positive. French Services PMI jumped to 57.0, just shy of the estimate of 57.0 points, and Eurozone Services PMI...
Oil Commodity
Oil’s extended speculative long positioning feels the heat as crude runs out of momentum. The unwind in long crude positioning continued overnight, with WTI falling 1.90 % and Brent 1.00% respectively. Separate Bloomberg and Reuters surveys pointing to higher than expected OPEC production in September was enough to see the...
Oil Commodity
Oil and Gold both continued to fade into the week’s end with a China holiday seeing a quiet start for Asia. WTI finished unchanged at 51.35 on Friday as the selling pressure continued to be seen in the Brent contract, which closed one percent lower at 56.90 as traders lightened...
Month-end flows in the USD contributed to a very choppy session on oil markets but helps gold up off the canvas. Oil Traders were left somewhat breathless overnight after the dust settled on a volatile session overnight which saw Brent and WTI trade in a 2.50% and 3.0 % range respectively. Despite...
Canadian Dollar
The Canadian dollar was lower on Wednesday after the Bank of Canada (BoC ) Governor delivered a speech in Newfoundland. Governor Stephen Poloz said that there is no predetermined path for interest rate and that the central bank would proceed with caution. The rhetoric was less hawkish that his...
v
It was give and take overnight with oil shrugging of a stronger dollar while gold wilted as U.S. bond yields rose. OIL Oil’s appeared to be correcting nicely overnight after the previous day’s impressive rally. That was until the American Petroleum Institute’s (API) Crude Inventory data hit the streets. The data...
Oil Commodity
Brent and WTI explode higher as global tensions uncap Brent’s long-term resistance. The wellhead was uncapped, and oil gushed higher overnight with Brent rising nearly four percent and WTI three percent. Sabre rattling rhetoric from Iran and North Korea sent jitters through the market, but it is the Kurdish independence referendum...
Canadian Dollar
The Canadian dollar appreciated on Tuesday after losing traction at the beginning of the week as Bank of Canada (BoC) Deputy Governor Lane said the strength of the loonie would be a factor of monetary policy decisions. The CAD appreciated after the surprise rate hike in early September. The...
Gold has lost ground in the Monday session. In North American trade, the spot price for an ounce of gold is $1306.68, down 1.03%. In economic news, there are no major releases on the schedule. On Tuesday, the US releases Building Permits and Housing Starts. Gold prices jumped 4.3% in...
Oil Commodity
Exciting times for oil as we head towards the end of the week, with WTI rallying over 1.0% and Brent 0.5% as North Korea’s missile test iced the cake of a bullish technical picture for both contracts. Late New York saw WTI spot spike through the $50.00 mark to touch...
Gold and Silver continue their healthy consolidations as we reach the week’s end, ignoring North Korea’s latest missile test. Gold Gold rose slightly this morning after the latest North Korea missile test, but overall, the reaction was muted. Gold touched 1334.00 before falling back just as quickly to the unchanged level...
Gold Commodity
Gold is unchanged in the Tuesday session, after starting the week with considerable losses. In the North American session, the spot price for an ounce of gold is $1327.47, up 0.07%. On the release front, JOLTS  Job Openings improved to 6.17 million, easily beating the forecast of 5.96 million. On Wednesday,...
Gold Commodity
Safe Havens Under Pressure as Geopolitical Risk Eases a Little Risk appetite looks to have returned on Monday, with traders relieved at the inactivity in North Korea over the weekend after reports suggested the country could engage in more provocative testing. The rogue state celebrated its 69th founding anniversary on Saturday...
Great British Pound Currency
The master of central bank voodoo was at it again. Mario Draghi did cast a pale shadow over the euro strength, but the level of intervention rhetoric was so mild it did not distract the Euro bulls from adding on more Euro risk. The EUR bulls are anticipating bullish near...
Canadian Dollar
The Canadian dollar appreciated on Wednesday after the Bank of Canada (BoC) hiked interest rates by 25 basis points. The move was not totally unexpected as the central bank had been hinting at a second rate hike this year, but the timing predicted by analysts was for later in...
Headlines continue to drive Gold and Silver higher despite very stretched RSI’s. Gold Gold pushed higher again overnight despite the very overbought technical picture. The rally was driven by escalating Korean peninsula tensions and dovish comments from Fed Governors Brainard and Kashkari that weakened the dollar in general. In a welcome...
Oil Commodity
Gasoline futures crash as U.S. refinings rapid comeback alleviates the refined crude backlog. Overnight crude trading was relatively quiet with most of the action occurring in gasoline futures, which slumped nearly four percent as U.S. refining capacity comes back online post-Hurricane Harvey. With almost all the affected refineries now operating,...
Silver
A thermonuclear North Korea has traders buying precious metals this morning, but be cautious of overbought RSI’s. Gold gapped higher this morning as North Korea’s hydrogen bomb test yesterday, and heightened rhetoric from the U.S. saw traders rushing for safe havens. Having closed in New York at 1324.00, gold has...
US Dollar Currency
Friday to Cap Off Another Eventful Week For Markets. The week started with a missile launch from North Korea and tropical storm in the US but attention has gradually been diverted to the fundamentals, with numerous pieces of data being released over the last couple of days. Risk appetite has...
Oil Commodity
Crude couldn’t rally on much lower inventories as Harvey and spread trading swamps Brent Crude finally. Hurricane Harvey submerged another massive drawdown in the official U.S. Crude Inventories last night, washing Brent by two percent in the process. The reduction came in at -5.4 million barrels against an expected 1.75...

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