Gold Calm Ahead of US Consumer Confidence Report

4:35 AM No Comments

Gold is stable on Tuesday, with a spot price of $1186.99 per ounce in the European session. Today's highlight is US CB Consumer Confidence. The markets are expecting a strong improvement in the December reading, with the estimate standing at 94.6 points. Greece was in the spotlight on Monday, but this



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EUR/USD - Little Activity as Markets Eye US Consumer Confidence

4:12 AM No Comments

EUR/USD continues to trade quietly in the final year of 2014. In Tuesday's European session, the pair is trading in the mid-1.21 range. The euro is struggling, having lost about 350 points in the past two weeks. On the release front, Spanish CPI posted a sharp decline of 1.1%, while



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Greece Yields Surge and Oil Drops

3:13 AM No Comments

Financial markets shifted into risk aversion mode due to increasing Greek political uncertainty. Asia's regional indices were broadly lower as the Nikkei, Hang Seng and Shanghai composite all fell -1.57%, -1.27% and -0.08% respectively. US treasury yields slid lower and European peripheral spreads widened, led by rally in Greek yields.



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Daily Wave Analysis

1:51 AM No Comments

4 hour EURUSD: The EURUSD is in a neat yet slow downtrend channel which is indicated by the 2 trend lines (orange). 60 min EURUSD: The EURUSD's downtrend has passed the 127.2% Fibonacci retracement mark of the wave X (blue) and is approaching the last expected bouncing spot of 138.2 (invalidation level). It



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Greece Heads for General Election on January 25, Concerns Over Grexit Intensif

1:23 AM No Comments

Greece's Prime Minister Antonis Samaras announced a snap general election next month following the third and final unsuccessful attempt to elect a president. Samaras failed to obtain the required number of lawmakers in Greece's parliament to support his nominee Stavros Dimas in a decisive vote in the presidential elections on



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Japan's Government Employs Emergency Fiscal Stimulus, Cuts Corporate Tax

1:23 AM No Comments

Japan's government adopted an emergency fiscal stimulus package worth 3.5 trillion yen to boost the nation's economy, which was hit by higher prices due to sales tax increase in April as well as the Yen's sharp weakening. The stimulus scheme is aimed at providing financial assistance designed to offset soaring



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Markets in Profit-Taking Mode with an Eye on Uncertainty in Europe

1:23 AM No Comments

Thin holiday trading conditions persist in the absence of meaningful regional economic or corporate developments. Korean current account and industrial output figures the only data points for the session were mixed, with record high CA surplus and a higher than expected y/y decline in production. China HSBC final



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