Fx Primus Rebates

EURUSD tests last weeks highs/61.8% retracement

Runs higher on technical holds and breaks today The EURUSD just tested the 61.8% of the move down from the June 14th high at 1.1719 (the high reached 1.17196).  That retracement also stalled the rise back on June 26th (last week).  Profit takers?  It seems on the first look that is the case.  A break…

Fx Primus Rebates

Saudi Arabia has pumped 10.448B BPD in June

Up from 10.27B BPD in May. Over the July 4 holiday yesterday,  President Trump tweeted: and on June 30 Trump said he spoke with Saudi Arabia about increasing production by 2B BPD and they agreed. Saudi did not confirm they would up production by that amount. They are expected to increase production in July to…

Fx Primus Rebates

USDJPY dips modestly after softer ADP report

100 hour MA stalls the rally today, but so does the 200 hour MA. The ADP employment report came in a touch weaker than expectations at 177K estimate vs 190K expected. The prior month was revised to 189K from 178K though. The initial claims came in at 231K vs 225k expected.