Top trade idea for June 7th, 2016 – USDJPY

June 10, 2016
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Going against the general trend here with the USDJPY being at a dynamic support given by the channeling component of a double combination and the only logical thing is to try a long trade from current levels with 104.66 stop loss and around 112 take profit. I know the late NFP number was hurting...

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APAC Currency Corner – Caution is the name of the game

June 10, 2016
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The US dollar posted modest upticks against the G10 currencies in the New York session. USD bulls found solace in yesterday’s US initial jobless claims, which fell to a lower-than-expected 264k last week, lowering the four-week average by 7k to 270k. The weekly employment barometer certainly paints a more robust picture of the US...

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Gold Continues to Climb, US Jobless Claims Dip

June 10, 2016
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Gold has posted slight gains on Thursday, continuing the upward movement we saw in the Wednesday session. XAU/USD is trading at $1269.88 in the North American session. This marks the metal’s highest level in three weeks. There was positive on the employment front, as Unemployment Claims dipped to 264 thousand, beating expectations. On Friday, the US...

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USD/CAD – Loonie Stable on BOC Financial Review and Oil Drop

June 10, 2016
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The Bank of Canada (BoC) has deemed the risks to the Financial system from the Canadian housing sector have been balanced by the improving economy. The rise of house prices in Toronto and Vancouver continue to be a concern as borrowers continue to incur in large debt. Governor Stephen Poloz was optimistic about the...

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Forexlive America FX news wrap: Brexit poll rocks GBPUSD

June 10, 2016
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Forex news and economic trading data for Americas session June 10, 2016. US stocks end the week on a down note. CFTC commitments of traders: GBP short position swells ahead of Brexit vote Bonds continue to get bought Stocks catching the Brexit cold US-made budget deficit -53B vs estimate of -60B Dollar continues move...

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Egypt okays prison terms for forex black market traders

June 8, 2016
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CAIRO – Egypt’s government approved on Wednesday prison sentences for traders selling foreign currency outside the official exchange rate, marking an escalation in the central bank’s crackdown on a black market it says destabilises the country’s currency. The cabinet said in a statement that it had passed draft amendments to a law regulating the...

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