Facebook’s cryptocurrency could be a $19 billion revenue opportunity, Barclays says
One Wall Street firm sees major upside for Facebook if its secretive cryptocurrency plan works out. The social network is reportedly developing a cryptocurrency that could be part of a multibillion-dollar revenue opportunity, Barclays internet analyst Ross Sandler said in...
British Pound Gains Ground ahead of Crucial Parliament Vote
GBP/USD has posted considerable gains on Monday, erasing the losses seen on Friday. In North American trade, the pair is trading at 1.3094, up 0.60% on the day. Earlier on Monday, the pair touched a low of 1.2961, its lowest...
GBPUSD – Pound Rises Further on Short Covering
Cable ticked higher and pressures 1.31 barrier in early US trading on Monday, as traders took profits from short positions and re-positioning for fresh weakness in anticipation of another defeat of UK PM May on tomorrow’s important parliamentary vote on...
Trading the 24-Hour Forex Market
The 24-hour forex market: Main talking points The Forex Market trades 24 hours a day, five days a week. The greatest amount of volatility happens during market open overlap. Forex traders can enter and exit trades at any time during...
Saudis are Doing Whatever it Takes to Keep Oil Higher
USD – Powell in no hurry to change policy Trump – 2020 budget to request $8.6B for wall Oil – Saudi keeps on over-delivering on supply cuts Stocks – Dow taken lower by Boeing Gold – ETF outflows continue for...
Sterling Recovers Awaiting Brexit Clarify, Dollar Shrugs Retail Sales Data
Risk markets attempt to recover today but lacks clear momentum. Nonetheless, that’s enough to send Swiss Franc generally lower. At the time of writing, Canadian Dollar is the second weakest. Dollar follows as third weakest despite better than expected retail...
US retail sales edge up in January, but December is revised sharply lower
U.S. retail sales unexpectedly rose in January, lifted by an increase in purchases of building materials and discretionary spending, but receipts in December were much weaker than initially thought. The report from the Commerce Department on Monday is welcome news...
WTI OIL Outlook: WTI Oil Price Stands at the Front Foot on Comments from Saudi Arabia
WTI oil price extended higher on Monday, bouncing from dangerous territory after spiking to $54.51 on Friday after weak Chinese data. Downbeat US NFP data which pushed dollar lower, helped oil’s recovery, with the latest news that OPEC and other...
USD/JPY Outlook: Bears on Hold above 20SMA, But Converged MA’s Mark Strong Obstacle
The pair consolidates above rising 20SMA (currently at 111.04) which prevented deeper fall after dollar accelerated lower on downbeat US NFP data on Friday. Dip was contained by broken Fibo 61.8% support (110.74) and today’s recovery attempts are underpinned by...
Average US price of gas jumps 6 cents per gallon, to $2.50
The average U.S. price of regular-grade gasoline is up 6 cents a gallon (3.8 liters) over the past two weeks, to $2.50. Industry analyst Trilby Lundberg of the Lundberg Survey says Sunday that the price at the pump is 9...