Gold’s rally has accelerated with the front-month Comex contract making new highs for two consecutive dates. We believe the recent relentless rally of the yellow metal is driven by a number of factors: low real rates, expectations of higher inflation as a result of ultra expansionary monetary policy and fiscal stimulus and safe-haven demand amidst
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Gold gained on Tuesday ahead of a US Federal Reserve policy meeting which is expected to provide more monetary stimulus to support the coronavirus-hit economy, though bullion pulled back from an all-time high reached earlier. As of 11:10 a.m EDT (1510 GMT), spot gold was up by 0.3% at $1,947.51 per ounce, while US gold
Yen rises generally today, together with Swiss Franc, in rather subdued consolidative markets. Stocks are trading mildly lower but there is hardly any following selloff for now. Much volatility is seen in Gold and Silver, while retreat notably after initial spike. But both are contained above near term support level so far. Back in the
What’s coming up in North American trade It’s TradeOn Summit day and Justin is delivering a live presentation at the moment. There isn’t anything on the calendar to interrupt him at the bottom of the hour, but it picks up a bit later. At 1300 GMT, the Case-Shiller US 20-city house price index is due.
SINGAPORE/MELBOURNE: Oil prices were steady on Tuesday, erasing gains earlier in the session, as rising coronavirus cases dampened the outlook for demand and countered optimism over more U.S. stimulus. Efforts to stimulate the U.S. economy’s recovery from the coronavirus crisis had raised hopes for stronger oil demand. However, a proposal on Monday from Senate Republicans
Dollar recovers mildly today as markets start to digest recent broad-based losses. Gold and silver are also in retreats after initial spikes. But the movements are so far rather limited. While some consolidations might be seen, there is no sign for sustainable rebound in the greenback yet. As of now, Canadian Dollar is following Dollar,
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
NEW YORK: Oil prices edged lower on Monday despite a weaker US dollar, as rising coronavirus cases and tensions between the United States and China clouded the outlook for oil demand’s recovery. Brent crude fell 25 cents to $43.09 a barrel by 12:53 p.m. EDT (1653 GMT), while US West Texas Intermediate (WTI) crude fell
The powerful rallies in Euro and Gold remain the dominate theme for today as traders seems to be focusing on the worsening US-China relations as well as second wave of coronavirus infections in the US and Asia. Swiss franc tumbles sharply, as mainly pressured by the selloff against Euro while Yen is firm and resilient.
Forex news from the European trading session – 27 July 2020 Headlines: Markets: JPY leads, CHF lags on the day European equities mixed; E-minis up 0.4% US 10-year yields down 1 bps to 0.579% Gold up 2.1% to $1,941.40 WTI up 0.3% to $41.43 Bitcoin up 6.3% to $10,235 The dollar fallout remains the key
SINGAPORE/LONDON: Oil prices edged lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors towards safe-haven assets. Brent crude dipped 20 cents, or 0.5%, to $43.14 a barrel by 1000 GMT, while U.S. West Texas Intermediate (WTI) crude dropped to $41.15 a barrel, down 14 cents, or 0.4%.
The upcoming FOMC meeting aims at preparing the market for changes in the monetary policy in September. At the meeting this week, the Fed will keep its policy measures unchanged at this week’s meeting, i.e., the Fed funds rate will stay at 0-0.25%, while asset purchases (QE) will be kept at a monthly pace of
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
By Mark Gilbert Gold is up 25% this year and traded above $1,895 per ounce on Thursday, not far from the 2011 record high of $1,921. Meanwhile, global stocks, as measured by the MSCI World index, have recovered almost all of the losses they suffered as the pandemic ushered the world economy into lockdown, and
There is no apparent slow down in rally in commodity currencies against Dollar, even though risk markets turned mixed in Asian session. Australian Dollar continues to lead the way higher. Canadian Dollar is also firm as WTI oil price breach 42 handle. On the other hand, Dollar, Yen, and to a lesser extent Swiss Franc,
Another reason to sell the US dollar There is no set date for the Treasury’s FX manipulation report but it is due out soon and analysts at JPMorgan says it may contain a message for the Swiss. “Switzerland presents an obvious risk of an outright labeling” by the Treasury Department, “which may further frustrate the
Gold prices have seen a sharp rise over the past several weeks. The precious metal has been marking new highs ever since it broke above the $1,750 mark. Over the past month, the yellow metal has gained over $121, or 6.80 per cent, till of July 24. Technical charts show the monthly bar is yet