Intermezzo

Intermezzo It was a predictable snoozefest in FX overnight as global holiday sessions crimped activity. And adding to the void, there was scant data during European hours which severely nipped action as traders had few if any fundamental guideposts. But the markets interlude included the usual holiday- liquidity induced mystery Continue Reading

EUR/USD – Is the Rally Running Out of Steam?

Are We Looking at an Overcrowded Market? It’s difficult to find anyone at the moment that isn’t bullish on this pair in the long term and under the current circumstances, they may have a point. However, these markets don’t move in a straight line (even bitcoin as the last couple of Continue Reading

USD/JPY – Yen Edges Lower in Thin Holiday Trade

The Japanese yen has posted slight losses in the Monday session. In North American trade, USD/JPY is trading at 106.54, up 0.23% on the day. On the release front, there are no US events, with US markets closed for Presidents’ Day. In Japan, the current account surplus jumped to JPY Continue Reading

Macron Inspires New UK Party Intent on Blocking Brexit

A new British party inspired by French President Emmanuel Macron’s movement launched a campaign on Monday to thwart Brexit by convincing MPs to block any EU withdrawal deal Prime Minister Theresa May can strike.Sandra Khadhouri, together with fellow Renew party members James Clarke and James Torrance, speaks at the launch Continue Reading

Cryptocurrencies Could Fall to Near-Zero at Any Time

Cryptocurrencies are a nascent asset class and could fall violently at any time, the founder of blockchain network Ethereum warned on Saturday. “Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time,” Vitalik Buterin said on Twitter. “Don’t put in more money Continue Reading

Venezuela Preparing to Launch Petro Cryptocurrency

Venezuela will launch a pre-sale of its commodity-backed “petro” cryptocurrency on Tuesday. President Nicolas Maduro hopes the country’s own digital currency will help it to make financial transactions and get around Western sanctions. Both the United States and the European Union have imposed economic sanctions on Venezuela over their opposition Continue Reading