Analysts at Citibank continue to hold a bullish view on XAU/USD. They see the price of the yellow metal rising to $2,200 in a three-month horizon and to $2,400 in six to twelve months. Key Quotes: “We are bullish gold tactically in the short-term and structurally over the medium-term. We maintain our 0-3m point-price target
Month: October 2020
Down -$1.67 or -4.31% The price of WTI crude oil futures settle at $37.05. That’s down $-1.67 or -4.31%. The low for the day reached $36.63. The high reached $38.65. The low price was just short of the September 9 low of $36.60. The pair also fell just short of the 38.2% retracement of the move up from the
Euro area final services and composite PMI prints for September in focus The market is looking more cheery to start the new week, with major currencies gaining slight ground as we see the yen and dollar lag a little bit. All eyes are still on Trump’s health condition and after some nervousness seen on Friday,
The European Central Bank (ECB) could begin seriously considering and studying the digital euro by mid-2021, the bank said in a report released Oct. 2. The report examined how a digital euro may impact retail payments and how it can protect payments in the future. It also looks at how virtual currencies could fit within
NEW DELHI: Gold and silver prices drifted lower on Monday as the markets opened after an extended weekend. Investors shrugged off the uncertainty over US President Donald Trump’s health and reduced their positions in futures trading. Doctors treating Trump for COVID-19 sent conflicting signals about the severity of his condition on Sunday, hours before the
As suggested in the CFTC Commitments of Traders report in the week ended September 29, NET SHORT for USD Index futures fell -3 591 to 5 555 contracts. Speculative long positions increased +2 908 contracts and short positions slipped -683 contracts. The greenback’s outlook remains uncertain in the near term. The US presidential election is
A protester blocks the street leading to the Washington, D.C., home of U.S. Senate Majority Leader Mitch McConnell, R-Ky., demanding the extension of unemployment aid, on July 22, 2020. Jonathan Ernst | Reuters Stimulus checks and enhanced unemployment benefits that helped the poorest Americans weather the coronavirus pandemic are in danger of ending, throwing the
GBP/USD trims early-day gains after touching Friday’s top of 1.2954. Fears of harsher lockdown in England, downbeat comments from UK Chancellor Sunak favor bears. Two more rounds of Brexit talks will be held as a final kick to avoid no-deal departure. US President Donald Trump sounds upbeat in the latest video, concerns over dexamethasone usage
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In this video, I show you exactly how I banked $504,554.40 on Gold last week. I go over a couple of trades that I took, and you can see on a live trading example what I did step by step. It is a simple concept that I use based on Candlesticks and Market structure. I
Swing area on daily between 1.1695 to 1.1710 The EURUSD is higher on the week and in the process is moving above a swing area defined by swing lows going back to the end of July in the 1.1695 to 1.1710 area. Last week, the price moved below that area but found support buyers near
White House doctor seems carefully upbeat, from his statement: Trump not yet out of the weeds but the team remains cautiously optimistic Trump continues to do well, “having made substantial progress since diagnosis” Trump remains fever free and off supplemental oxygen Sean Conley, the White House physician, with the update. Let’s hope Trump stays on
New Delhi: Energy exchanges IEX and PXIL have expressed hope that renewable energy certificate (REC) trading will resume after three months on October 28 as electricity tribunal APTEL has concluded hearing on the REC pricing issue. Trading of RECs is done on the last Wednesday of every month on the Indian Energy Exchange (IEX) and
Net length in gold futures increased as a rise in speculative long positions was accompanied by a fall in speculative shorts. Traders also resumed accumulating gold on price correction. We expect net length in the yellow metal to rise further in the coming week as safe haven demand reemerged amidst the second wave of coronavirus
Nonfarm payrolls rose by a lower than expected 661,000 in September and the unemployment rate was 7.9%, the Labor Department said Friday in the final jobs report before the November election. Economists surveyed by Dow Jones had been expecting a payrolls gain of 800,000 and the unemployment rate to fall to 8.2% from 8.4% in
Putting rest to the conflicting messages about his health conditions, US President Donald Trump made an appearance himself on Twitter late Saturday, via a four-minute video, noting that he was feeling ‘much better’. In an online message from his hospital suite at Walter Reed National Military Medical Center, he expressed gratitude towards the people of
CFTC commitments of traders: Traders reverse speculative positions in GBP to a modest short. Coming Up! Title text for next article LON +1 SDNY+10 NY -4 TYO +9 GMT Technical Analysis CFTC commitments of traders data for the week ending September 29, 2020 EUR long 188K vs 191K long last week. Longs trimmed by 3K