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POPULAR NEWS
Gold futures give back most of their gain from a day earlier

Gold futures fell nearly 2% on Tuesday, with prices giving back nearly all of what they gained a day earlier. "While economic growth concerns surrounding the coronavirus were the most recent impetus supporting gold prices, there is very little reason for gold prices to move significantly lower given the current global environment," said Jeff Klearman, portfolio manager at GraniteShares. "Gold prices have benefited from three main factors, including heightened investor appetite for safe haven...

Gold futures finish lower for a second straight session

Gold futures fell on Wednesday for a second straight session, pressured on the heels of some strength in the U.S. dollar, even as concerns over the economic hit from COVID-19 remain. "It would appear that gold needs a clear sign of a pandemic and clear signs of severe global slowing to ignite a return of aggressive investment buying," said analysts at Zaner Metals, in a daily note. "The trade could be fearful about the potential for a sustained setback in Chinese physical gold...

Gold Drops From 7-Year High as Equity Sell-Off Eases

Gold retreated from the highest level since 2013 as a sell-off in global stocks eased in Asia Tuesday, while authorities around the world moved to keep the coronavirus from spreading. Spot gold as much as -1% to $1,642.93/oz, before paring declines to $1,655.72 at 10:24am in Singapore. Metal as much as +2.8% to $1,689.31 on Monday, highest level since 2013. Bloomberg Dollar Spot Index -0.1% Other precious metals: Silver -0.2% to $18.6048/oz, Platinum +0.2% to...

Oil falls 3% to settle under $50 for first time in 2 weeks

Oil fell below $55 a barrel on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses. Crude fell almost 4% on Monday, with other commodities also reporting losses while U.S. and European equities suffered their steepest declines since mid-2016 on concern the coronavirus outbreak could turn into a pandemic. Brent crude fell $1.48 to trade at $54.86 per barrel. U.S. West Texas...

Gold Eases From 7-Year High, But Virus Fears Limit Losses

Gold prices fell on Tuesday as investors booked profits after the metal surged to a more than seven-year high in the previous session and as equities regained some footing, but a spike in coronavirus cases outside China capped bullion™s losses. Spot gold slipped 0.7% to $1,649.70 per ounce by 0847 GMT, having slipped 1.7% at one point earlier in the session. U.S. gold futures fell 1.5% to $1,652. On Monday, the metal rose as much as 2.8% to $1,688.66, its highest since January 2013. The...

USD/JPY seesaws around 112.00 as Tokyo open got fewer risk drivers to follow
Tuesday, 16 April 2019 08:18 WIB | CURRENCIES |Dolar YenUSD/JPY,

The USD/JPY pair trades little changed around 112.00 as Tokyo markets open on Tuesday. The quote remained positive on Monday due to overall risk-on sentiment but is little changed off-late as backed by fewer catalysts. While news reports from the US-Japan trade discussions could offer background music to the pair traders, the US industrial production and developments surrounding the US-China trade deal could offer additional details to entertain market players.

With an upbeat start to the US earnings season and welcome China data, global investors remained mostly optimistic on Monday. Though, lack of major catalysts confined the moves.

Japan™s Economy Minister Toshimitsu Motegi is on the two-day visit to Washington in order to discuss trade with the US Trade Representative Robert Lighthizer. There hasn™t been any negative report rolled out so far at the end of the first day of the talks, which in turn could be a reason for the recent uptick of the USD/JPY pair.

However, latest comments from the Fed policymakers, like Federal Reserve Bank of Chicago President Charles Evans and Federal Reserve Bank of Boston President Eric Rosengren seemed quite unimpressive. Both the FOMC members supported the central bank's cautiously neutral bias whereas Mr. Evans accepted that the US inflation was weaker than expected while Mr. Rosengren said that the economy has slowed but the recession is unlikely.

It should also be noted that Monday™s Wall Street result offerings couldn™t please the bulls as Goldman Sachs and Citigroup registered weak revenue numbers.

The US 10-year treasury yield, mostly referred to gauge market risk sentiment, was unchanged near 2.56% during the press time.

Moving forward, optimism surrounding the trade deals between the US and China, coupled with the US and Japan, could help the USD/JPY afloat while expected increase in March month industrial production to 0.2% from 0.0% (revised) may further support the upside. Though, negatives could be well received in times of market inactivity.

USD/JPY Technical Analysis

112.15/25 area comprising March high and the early December 2018 lows could act as important upside resistance for the pair, a break of which can further propel prices towards 112.80 and 113.00.

On the flipside, 111.80 and 200-day simple moving average (SMA) level around 111.50 can limit the quote™s near-term declines whereas 111.00 and 100-day SMA level of 110.90 might entertain sellers afterward.

Source: FXstreet

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POPULAR NEWS
Gold futures give back most of their gain from a day earlier

Gold futures fell nearly 2% on Tuesday, with prices giving back nearly all of what they gained a day earlier. "While economic growth concerns surrounding the coronavirus were the most recent impetus supporting gold prices, there is very little reason for gold prices to move significantly lower given the current global environment," said Jeff Klearman, portfolio manager at GraniteShares. "Gold prices have benefited from three main factors, including heightened investor appetite for safe haven...

Gold futures finish lower for a second straight session

Gold futures fell on Wednesday for a second straight session, pressured on the heels of some strength in the U.S. dollar, even as concerns over the economic hit from COVID-19 remain. "It would appear that gold needs a clear sign of a pandemic and clear signs of severe global slowing to ignite a return of aggressive investment buying," said analysts at Zaner Metals, in a daily note. "The trade could be fearful about the potential for a sustained setback in Chinese physical gold...

Gold Drops From 7-Year High as Equity Sell-Off Eases

Gold retreated from the highest level since 2013 as a sell-off in global stocks eased in Asia Tuesday, while authorities around the world moved to keep the coronavirus from spreading. Spot gold as much as -1% to $1,642.93/oz, before paring declines to $1,655.72 at 10:24am in Singapore. Metal as much as +2.8% to $1,689.31 on Monday, highest level since 2013. Bloomberg Dollar Spot Index -0.1% Other precious metals: Silver -0.2% to $18.6048/oz, Platinum +0.2% to...

Oil falls 3% to settle under $50 for first time in 2 weeks

Oil fell below $55 a barrel on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses. Crude fell almost 4% on Monday, with other commodities also reporting losses while U.S. and European equities suffered their steepest declines since mid-2016 on concern the coronavirus outbreak could turn into a pandemic. Brent crude fell $1.48 to trade at $54.86 per barrel. U.S. West Texas...

Gold Eases From 7-Year High, But Virus Fears Limit Losses

Gold prices fell on Tuesday as investors booked profits after the metal surged to a more than seven-year high in the previous session and as equities regained some footing, but a spike in coronavirus cases outside China capped bullion™s losses. Spot gold slipped 0.7% to $1,649.70 per ounce by 0847 GMT, having slipped 1.7% at one point earlier in the session. U.S. gold futures fell 1.5% to $1,652. On Monday, the metal rose as much as 2.8% to $1,688.66, its highest since January 2013. The...

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