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POPULAR NEWS
Gold futures mark highest settlement in 7 years

Gold futures climbed on Thursday for a sixth consecutive session to log their highest settlement since February 2013. "Coronavirus fears magnetized investors towards safe-haven assets," said Lukman Otunuga, senior research analyst at FXTM. "With the virus outbreak fostering uncertainty, unease and anxiety across the board, gold is set to shine through the chaos." April gold rose $8.70, or 0.5%, to settle at $1,620.50 an ounce. Source: Marketwatch

Gold Falls from Near 7-yr Peak as China Acts to Support Economy

Gold edged lower on Thursday after China announced more measures to limit the economic impact from coronavirus epidemic, although a rise in number of new cases in South Korea kept bullion close to a near seven-year peak. Spot gold was down 0.1% at $1,610.31 per ounce. U.S. gold futures rose 0.1% to $1,613.30. Gold rose to its highest since March 2013 at $1,612.62 in the previous session on concerns of the economic impact of the virus outbreak. Source : Reuters

Gold Hits Seven-Year High on Fears Virus Will Hurt Global Growth

Gold traded near a seven-year high on concern that the coronavirus outbreak will retard global growth, coupled with speculation the Federal Reserve will ease monetary policy before the year-end. Palladium held near a record after building on a powerful rally. Bullion is rising at a time when U.S. stocks are at an all-time high even as traders weigh the global impact of the disease. While Hubei, the province at the center of the outbreak, reported fewer cases after...

Oil posts 6th positive session in 7 on smaller-than-expected inventory build

Oil prices rose on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China. Data from the U.S. Energy Information Administration (EIA) showed that crude inventories rose only 414,000 barrels last week, compared with expectations of a 2.5 million barrel rise from analysts in a Reuters poll. Brent crude rose 47 cents, or 0.8%, to $59.59 per barrel. The front-month U.S. West...

Gold Eases From 7-Year Peak as China Bids to Cushion Virus Impact

Gold prices fell slightly on Thursday, after hitting their highest since March 2013 in the previous session, as Chinese stimulus measures to cushion the economic impact of the coronavirus outbreak stoked investors to opt for riskier assets. Spot gold was down 0.1% at $1,609.59 per ounce, as of 0253 GMT. Bullion rose to an intraday high of $1,612.62 in the previous session, the highest since March 25, 2013. U.S. gold futures were flat at $1,612.20. China™s central Hubei province had 349 new...

US Dollar Index advances to weekly highs near 98.20
Thursday, 23 May 2019 12:59 WIB | CURRENCIES | Indeks DolarDolar AS

The greenback, in terms of the US Dollar Index (DXY), is extending the up move beyond the 98.00 barrier, clinching at the same time fresh weekly highs.

US Dollar Index focused on Fedspeak, data

The index is posting gains for the third session in a row on Thursday, always on the back of simmering US-China trade concerns in spite of the absence of fresh news in past days.

The buck also met extra support after the FOMC minutes showed the Fed is firmly committed to its ˜patient™ stance, while the Committee did not even mention the probability of rate cuts and considered the lack of traction of consumer prices as transitory. Further out, member reiterated the monetary conditions could be tightened further in case the economy keeps the forecasted pace.

In the docket, the usual weekly report on the labour market is due seconded by advanced prints of manufacturing and services PMIs and New Home Sales. In addition, Dallas fed R.Kaplan (dovish), San Francisco Fed M.Daly (centrist), Atlanta Fed R.Bostic (centrist) and Richmond Fed T.Barkin (centrist) will participate in a discussion panel. All Fed speakers are non-voters this year.

What to look for around USD

With the US-China trade talks mired in the mud for the time being, investors™ attention have now shifted to the Chinese government and the likeliness of intervention in the Yuan, as the currency slowly approaches the psychological 7.00 mark without any progress in the negotiations, at least in the short-term horizon. On another direction, the FOMC minutes reinforced the ˜patient™ stance from the Federal Reserve and the ˜transitory™ lack of upside momentum in domestic inflation. In addition, the Committee ruled out rate cuts in the next months and left the door open for extra tightening if the economy evolves as planned. The positive outlook on the buck, in the meantime, stays unchanged and sustained by overseas weakness, its safe haven appeal, favourable yield spreads vs. the Fed™s G10 peers and the status of global reserve currency.

US Dollar Index relevant levels

At the moment, the pair is gaining 0.07% at 98.16 and faces the next up barrier at 98.32 (2019 high Apr.25) seconded by 98.97 (78.6% Fibo of the 2017-2018 drop) and finally 99.89 (monthly high May 11 2017). On the other hand, a break below 97.73 (21-day SMA) would open the door for 97.28 (55-day SMA) and then 97.03 (low May 13).

Source: FXStreet

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POPULAR NEWS
Gold futures mark highest settlement in 7 years

Gold futures climbed on Thursday for a sixth consecutive session to log their highest settlement since February 2013. "Coronavirus fears magnetized investors towards safe-haven assets," said Lukman Otunuga, senior research analyst at FXTM. "With the virus outbreak fostering uncertainty, unease and anxiety across the board, gold is set to shine through the chaos." April gold rose $8.70, or 0.5%, to settle at $1,620.50 an ounce. Source: Marketwatch

Gold Falls from Near 7-yr Peak as China Acts to Support Economy

Gold edged lower on Thursday after China announced more measures to limit the economic impact from coronavirus epidemic, although a rise in number of new cases in South Korea kept bullion close to a near seven-year peak. Spot gold was down 0.1% at $1,610.31 per ounce. U.S. gold futures rose 0.1% to $1,613.30. Gold rose to its highest since March 2013 at $1,612.62 in the previous session on concerns of the economic impact of the virus outbreak. Source : Reuters

Gold Hits Seven-Year High on Fears Virus Will Hurt Global Growth

Gold traded near a seven-year high on concern that the coronavirus outbreak will retard global growth, coupled with speculation the Federal Reserve will ease monetary policy before the year-end. Palladium held near a record after building on a powerful rally. Bullion is rising at a time when U.S. stocks are at an all-time high even as traders weigh the global impact of the disease. While Hubei, the province at the center of the outbreak, reported fewer cases after...

Oil posts 6th positive session in 7 on smaller-than-expected inventory build

Oil prices rose on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China. Data from the U.S. Energy Information Administration (EIA) showed that crude inventories rose only 414,000 barrels last week, compared with expectations of a 2.5 million barrel rise from analysts in a Reuters poll. Brent crude rose 47 cents, or 0.8%, to $59.59 per barrel. The front-month U.S. West...

Gold Eases From 7-Year Peak as China Bids to Cushion Virus Impact

Gold prices fell slightly on Thursday, after hitting their highest since March 2013 in the previous session, as Chinese stimulus measures to cushion the economic impact of the coronavirus outbreak stoked investors to opt for riskier assets. Spot gold was down 0.1% at $1,609.59 per ounce, as of 0253 GMT. Bullion rose to an intraday high of $1,612.62 in the previous session, the highest since March 25, 2013. U.S. gold futures were flat at $1,612.20. China™s central Hubei province had 349 new...

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