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POPULAR NEWS
Gold's Tops Hold, Next stop $1300

The equity markets are closed today; however, the futures markets are open. Equity futures are higher which would have led to the seventh day in a row of gains. Just three weeks ago, equities looked like they were going to collapse. Now they look like they may never go down again. Will the œrip your face off rally continue or will Darth Vader return? Gold has followed a very similar pattern as equities: making lows and then rallying. Gold has reached the peak of its move and is now...

Gold Futures Dip as Dollar Steadies

Gold futures fell modestly Monday, giving up part of last week™s gain, as a steadier dollar weighed on the metal, and as the Presidents Day holiday in the U.S. gave many traders the session off. April gold lost $5.40, or 0.4%, to $1,350.80 an ounce in electronic trading, while March silver shed a nickel, or 0.3%, to $16.66 an ounce. The drop came as the dollar was steady to slightly higher against major rivals. A weaker buck can boost commodities priced in dollars, because it makes them...

RBA minutes: wage growth remained subdued

Minutes of the monetary policy meeting of the Reserve Bank of Australia board were released, and as widely expected, this was a non-market event considering how much has already been said from various officials over the last couple of week's and since the previous RBA meeting. Key statements as follows: Low rates helping reduce unemployment, lift inflation. Further progress on inflation likely to be only gradual. RBA repeats rising a$ would impede pick up in economic growth, inflation. A$...

Gold Marks Worst Daily Drop In About a 1 1/2 Years As Dollar Gains Steam

Gold prices finished sharply lower on Tuesday, marking the sharpest daily decline in more than a year, against a backdrop of rising gold and stabilizing equities. April gold ended off $25.10, or 1.9%, at $1,331.20 an ounce, representing its steepest single-session pullback since a $33.90 drop, or 2.9%, on Dec. 15. 2016, FactSet data show. The tumble for precious metals comes as many Asian investors, big buyers in the commodity, continue to observe Lunar New Year. weighing on buying...

Asian markets continue to push higher

Asian shares started Monday higher as confidence in equities continued to return, with some markets in the region reopening after the Lunar New Year holiday. South Korea™s Kospi was up 1.2%, Singapore™s benchmark gained 0.5% and Japan™s Nikkei Stock Average rose 1.1%, helped by some yen softening after last week™s sharp rises. Shares in Australia also rose while stocks in New Zealand underperformed. Markets in China, Hong Kong and Taiwan remain closed for the holiday. U.S. markets...

GBP/USD toying with 1.3200 ahead of BoE
Thursday, 14 September 2017 13:45 WIB | CURRENCIES |GBP/USD

The Sterling is extending its sideline theme vs. the greenback on Thursday, now prompting GBP/USD to gyrate around 1.3200 the figure ahead of the key BoE meeting.

GBP/USD attention to BoE

Cable shed over a cent since yesterday™s fresh cycle tops around 1.3330 following a strong rebound in the demand for the US Dollar, particularly in response to rising speculations over Trump™s plans to finally implement his promised tax reform.

On the GBP-side, positive inflation figures during August (Tuesday) boosted the British Pound to levels last traded in September 2016 beyond the 1.3300 handle, although the above-mentioned pick up in USD and mixed results from the UK™s labour market on Wednesday plotted against an extension of the upside.

Later today, the BoE will hold its monetary policy meeting, which has gained in importance in light of the latest CPI figures. Market consensus expects the ˜Old Lady™ to refrain from making any significant announcements and the MPC members to vote 7-2 in favour of leaving current monetary conditions unchanged.

Across the pond, August™s inflation figures tracked by the CPI should keep the attention on the buck later in the session.

GBP/USD levels to consider

As of writing the pair is up 0.02% at 1.3211 and a break above 1.3300 (high Sep.12) would open the door to 1.3329 (2017 high Sep.13) and finally 1.3447 (high Sep.6 2016). On the flip side, the immediate support lines up at 1.3159 (low Sep.8) seconded by 1.3112 (23.6% Fibo of the 2017 up move).

 

Source: FXstreet

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POPULAR NEWS
Gold's Tops Hold, Next stop $1300

The equity markets are closed today; however, the futures markets are open. Equity futures are higher which would have led to the seventh day in a row of gains. Just three weeks ago, equities looked like they were going to collapse. Now they look like they may never go down again. Will the œrip your face off rally continue or will Darth Vader return? Gold has followed a very similar pattern as equities: making lows and then rallying. Gold has reached the peak of its move and is now...

Gold Futures Dip as Dollar Steadies

Gold futures fell modestly Monday, giving up part of last week™s gain, as a steadier dollar weighed on the metal, and as the Presidents Day holiday in the U.S. gave many traders the session off. April gold lost $5.40, or 0.4%, to $1,350.80 an ounce in electronic trading, while March silver shed a nickel, or 0.3%, to $16.66 an ounce. The drop came as the dollar was steady to slightly higher against major rivals. A weaker buck can boost commodities priced in dollars, because it makes them...

RBA minutes: wage growth remained subdued

Minutes of the monetary policy meeting of the Reserve Bank of Australia board were released, and as widely expected, this was a non-market event considering how much has already been said from various officials over the last couple of week's and since the previous RBA meeting. Key statements as follows: Low rates helping reduce unemployment, lift inflation. Further progress on inflation likely to be only gradual. RBA repeats rising a$ would impede pick up in economic growth, inflation. A$...

Gold Marks Worst Daily Drop In About a 1 1/2 Years As Dollar Gains Steam

Gold prices finished sharply lower on Tuesday, marking the sharpest daily decline in more than a year, against a backdrop of rising gold and stabilizing equities. April gold ended off $25.10, or 1.9%, at $1,331.20 an ounce, representing its steepest single-session pullback since a $33.90 drop, or 2.9%, on Dec. 15. 2016, FactSet data show. The tumble for precious metals comes as many Asian investors, big buyers in the commodity, continue to observe Lunar New Year. weighing on buying...

Asian markets continue to push higher

Asian shares started Monday higher as confidence in equities continued to return, with some markets in the region reopening after the Lunar New Year holiday. South Korea™s Kospi was up 1.2%, Singapore™s benchmark gained 0.5% and Japan™s Nikkei Stock Average rose 1.1%, helped by some yen softening after last week™s sharp rises. Shares in Australia also rose while stocks in New Zealand underperformed. Markets in China, Hong Kong and Taiwan remain closed for the holiday. U.S. markets...

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