Forex Flash: Euro's upside correction remains intact - BBH

FXstreet.com (Barcelona) - “The euro's upside correction remains intact. A convincing move above the $1.3115-20 area will signal the start of the next leg up that is worth at least another cent and maybe 2”, noted Marc Chandler, Global Head of Currency Strategy at BBH. Additionally he mentioned, “Ideally, the euro holds above the $1.3020 area, but it may require a break of $1.30 to undermine the correction.”

Apr 15, 2013

Commodities Brief: Gold & Silver resume the pounding

Following past Wednesday's Goldman Sachs sell call for Gold when was around the $1590 mark and Reuters reporting via IMF sources Cyprus was to sell $400M worth of Gold reserves, later on denied by Cyprus central bank, the precious metal is now a generous $100+ lower, last at $1451 fresh lows, lowest in 2 years. Friday alone, Gold closed down -5% in New York, single day worst decline since Sept 2011. As these lines are written, the precious metal is down -2.2% so far for the session.

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Apr 15, 2013

Forex Flash: China GDP eyed - Wesptpac

The regional data highlight is China’s Q1 GDP at 2GMT. According to Westpac: "The headline reading is usually quite close to consensus, which is 8.0% y/y, from 7.9% in Q4, with Westpac’s formal forecast of 8.5% y/y the highest in the market (Bloomberg range 7.5-8.3%), derived from a 2.1% q/q estimate, which is about steady with the Q4 pace."

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