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POPULAR NEWS
Gold prices notch gains for the day and week as coronavirus fears intensify

Gold prices finish higher on Friday, ending at the highest settlement in about three weeks as a viral outbreak originating out of China continued to grow. February gold closed $6.50, or 0.4%, higher at $1,571.90 an ounce on Comex. The metal also marked a weekly gain of 0.4%. China has moved to restrict movement of some 46 million people in and out of cities near the center of the outbreak, while also canceling Lunar New Year events as the number of infections continued to rise. The virus...

Gold Edges Lower as Traders Assess China Virus Outbreak

Gold edged lower Friday as traders assessed the severity of a viral outbreak originating out of China a day after the World Health Organization said it was too early to declare a global emergency. Gold for February delivery on Comex fell $5.10, or 0.3%, to $1,560.30 an ounce, while March silver was up 13.1 cents, or 0.7%, at $17.96 an ounce. The yellow metal saw its highest close in more than two weeks on Thursday as the spread of the coronavirus triggered a selloff in global equities and...

Stocks end lower on worries over coronavirus outbreak

Stocks ended lower Friday, giving up early gains after authorities confirmed a second U.S. coronavirus case. The Dow Jones Industrial Average fell around 170 points, or 0.6%, to end near 28,990, according to preliminary figures, while the S&P 500 lost around 30 points, or 0.9%, to finish near 3,295. The Nasdaq Composite closed near 9,315, off around 88 points, or 0.9%. Analysts said stocks were vulnerable to a pullback as concerns rise about the potential effect of the viral outbreak on...

Oil Drops The Most Since May on Fears Coronavirus Will Hit Growth

Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand because China is the world's largest crude oil importer, after importing a record 10.12 million barrels per day in 2019, according to data from the General Administration of Customs. China is also the second-largest oil consumer, behind the United States. On Friday, U.S. West Texas Intermediate crude futures fell 2.5%, or $1.40, to settle at $54.19....

Dow Seen Opening in Positive Territory as Intel, AmEx Shares Punch Higher in Premarket Action

U.S. stock-index futures were gaining modestly on Friday, with equity benchmarks set to end the week mostly higher, despite anxieties around a fast-moving Asia flu outbreak that has seen death tolls rise in China. The Dow industrials was poised to open Friday trade with positive gains on the back of a surge in shares of Intel Corp., following quarterly results from the blue-chip technology giant late Thursday. Futures on the Dow Jones Industrial Average were last up 69 points, or 0.2%, at...

GBP/USD Refreshes Session Lows, Back Below 1.2500 Handle
Monday, 22 July 2019 16:06 WIB | CURRENCIES |PoundsterlingGBP/USD

The GBP/USD pair finally broke down of its Asian session consolidation phase and dropped to fresh session lows, around the 1.2475 region in the last hour.

The latest leg of a sudden drop of over 35-pips, dragging the pair farther below the key 1.2500 psychological mark came in reaction to the UK political headlines, suggesting that the ministerial resignations could begin later this Monday.

It is worth reporting that UK chancellor of the exchequers Phillip Hammond, along with the Secretary of State for Justice and Lord Chancellor David Guake stand ready to resign if Boris Johnson - the frontrunner, becomes the next British PM.

On the other hand, the US Dollar remains supported by St. Louis Fed President James Bullard's comments on Friday, saying that a 25 bps rate cut seems appropriate as the current US economic condition doesn't warrant a larger cut.

The downside, however, remained limited, at least for the time being, as investors still seemed reluctant to place any aggressive bets ahead of the Tory leadership voting results, expected to be announced on Tuesday, and absent relevant economic data.

Hence, it would be prudent to wait for a strong follow-through selling before traders start positioning for the resumption of the pair's well-established bearish trend and a possible move back towards challenging 27-month lows set last Wednesday.

Source : FX Street

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POPULAR NEWS
Gold prices notch gains for the day and week as coronavirus fears intensify

Gold prices finish higher on Friday, ending at the highest settlement in about three weeks as a viral outbreak originating out of China continued to grow. February gold closed $6.50, or 0.4%, higher at $1,571.90 an ounce on Comex. The metal also marked a weekly gain of 0.4%. China has moved to restrict movement of some 46 million people in and out of cities near the center of the outbreak, while also canceling Lunar New Year events as the number of infections continued to rise. The virus...

Gold Edges Lower as Traders Assess China Virus Outbreak

Gold edged lower Friday as traders assessed the severity of a viral outbreak originating out of China a day after the World Health Organization said it was too early to declare a global emergency. Gold for February delivery on Comex fell $5.10, or 0.3%, to $1,560.30 an ounce, while March silver was up 13.1 cents, or 0.7%, at $17.96 an ounce. The yellow metal saw its highest close in more than two weeks on Thursday as the spread of the coronavirus triggered a selloff in global equities and...

Stocks end lower on worries over coronavirus outbreak

Stocks ended lower Friday, giving up early gains after authorities confirmed a second U.S. coronavirus case. The Dow Jones Industrial Average fell around 170 points, or 0.6%, to end near 28,990, according to preliminary figures, while the S&P 500 lost around 30 points, or 0.9%, to finish near 3,295. The Nasdaq Composite closed near 9,315, off around 88 points, or 0.9%. Analysts said stocks were vulnerable to a pullback as concerns rise about the potential effect of the viral outbreak on...

Oil Drops The Most Since May on Fears Coronavirus Will Hit Growth

Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand because China is the world's largest crude oil importer, after importing a record 10.12 million barrels per day in 2019, according to data from the General Administration of Customs. China is also the second-largest oil consumer, behind the United States. On Friday, U.S. West Texas Intermediate crude futures fell 2.5%, or $1.40, to settle at $54.19....

Dow Seen Opening in Positive Territory as Intel, AmEx Shares Punch Higher in Premarket Action

U.S. stock-index futures were gaining modestly on Friday, with equity benchmarks set to end the week mostly higher, despite anxieties around a fast-moving Asia flu outbreak that has seen death tolls rise in China. The Dow industrials was poised to open Friday trade with positive gains on the back of a surge in shares of Intel Corp., following quarterly results from the blue-chip technology giant late Thursday. Futures on the Dow Jones Industrial Average were last up 69 points, or 0.2%, at...

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