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POPULAR NEWS
Gold futures finish higher, near 1-week high

Gold futures moved higher on Monday, building on last week's climb to mark their highest finish in almost a week. The ICE U.S. Dollar Index was down 0.4% in Monday dealings, providing a boost to dollar-denominated gold prices.  August gold rose $3.50, or 0.2%, to settle at $1,793.50 an ounce. That was the highest settlement since June 30, when prices ended above $1,800 for the first time since September 2011. Source: Marketwatch

Gold futures log highest finish since September 2011

Gold futures marked their highest finish in nearly nine years, after climbing to nearly $1,810 an ounce during Tuesday's session. Prices had seen a "routine downside correction following recent gains" in early Tuesday action, that was "once again seen as a value-buying opportunity in the yellow metal, on strong notions more price appreciation lies ahead," said Jim Wyckoff, senior analyst at Kitco.com, in a market update. August gold rose $16.40, or 0.9%, to settle at $1,809.90 an ounce. That...

Gold Ticks Up on Concerns Over Increase in Virus Cases

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend. U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.3 million. Mexico overtook France with the fifth-deadliest outbreak. Spot gold +0.2% to $1,776.01/oz at 8:10am in Singapore. Last week,...

Gold Rises Back Near $1,800 as U.S. Dollar Softens to Start July's First Full Week

Gold futures headed higher early Monday, supported in part by a weakening U.S. dollar, which was providing a runway for the commodity even as global stocks rallied. The U.S. dollar was off 0.5%, as measured by the ICE U.S. Dollar Index, a gauge of the buck against a half-dozen currencies. A weaker U.S. dollar can make assets priced in the currency more attractive to buyers using other monetary units. Against that backdrop, August gold rose $4.30, or 0.2%, at $1,794.50 an ounce, after the...

Gold Ticks Up on Concerns Over Increase in Virus Cases

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend. U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.4 million. Mexico overtook France with the fifth-deadliest outbreak, while India™s coronavirus epidemic became the third...

RBA minutes: Board prepared to ease policy further if needed (AUD lower)
Tuesday, 19 November 2019 07:55 WIB | FISCAL & MONETARY |RBA

The minutes from the RBA Board's 5th November meeting have been released which shows the RBA has an easing bias. AUD/USD is lower on the minutes, down -0.20% at the time of writing.

Bored prepared to ease policy further if needed and case could be made for a rate cut at November meeting.

Decided rates should be held steady "at this meeting".

Board recognised "negative effects" of lower rates on savers and confidence.

Rate cuts could have different impact on confidence than in the past.

Saw case to wait and asses impact of "substantial" stimulus already delivered.

Agreed extended period of low interest rates would be required to meet targets.

AUD at lower end of range of recent times.

Saw "moderate" Australian gdp growth for the September.

Considerable uncertainty over the outlook for household consumption.

Risks from home building sector tilted to downside, could delay recovery.

Liaison showed firms expected steady wages growth, very few saw a pick up.

Risk extended period of low wage growth could lower wage expectations, norms.

Board agreed a lift in wages growth would be a "welcome development".

Risks to global growth forecasts still tilted to downside.

There is some an element of surprise there considering that this is more dovish than what the central bank's Statement on Monetary Policy which went as follows: œThe Board was mindful that rates were already very low and that each further cut brings closer the point at which other policy options come into play.

We had already seen a very lengthy quarterly statement but markets that are already somewhat positioned with the potential of further rate cuts ahead are likely to be cheering such rhetoric as this. Prior to the minutes, "markets were pricing a 20% chance of easing at the Dec RBA meeting, and a terminal rate of 0.50% (RBA cash rate currently at 0.75%)," analysts at Westpac noted.

Technically, AUD/USD has been capped by the vicinity of the 200-day moving average at the start of this month. AUD/USD is respecting the descending trend line resistance at this juncture. To the downside, the 0.6730s guard prospects of a test to the YTD lows in the 0.6660s before the 0.65 handle. On the upside, a break of the 200-DMA opens risk to the 0.7020s which meets the 23.6% Fibonacci retracement level of the 2018 highs to July 2019 lows.

Source : FXstreet

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POPULAR NEWS
Gold futures finish higher, near 1-week high

Gold futures moved higher on Monday, building on last week's climb to mark their highest finish in almost a week. The ICE U.S. Dollar Index was down 0.4% in Monday dealings, providing a boost to dollar-denominated gold prices.  August gold rose $3.50, or 0.2%, to settle at $1,793.50 an ounce. That was the highest settlement since June 30, when prices ended above $1,800 for the first time since September 2011. Source: Marketwatch

Gold futures log highest finish since September 2011

Gold futures marked their highest finish in nearly nine years, after climbing to nearly $1,810 an ounce during Tuesday's session. Prices had seen a "routine downside correction following recent gains" in early Tuesday action, that was "once again seen as a value-buying opportunity in the yellow metal, on strong notions more price appreciation lies ahead," said Jim Wyckoff, senior analyst at Kitco.com, in a market update. August gold rose $16.40, or 0.9%, to settle at $1,809.90 an ounce. That...

Gold Ticks Up on Concerns Over Increase in Virus Cases

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend. U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.3 million. Mexico overtook France with the fifth-deadliest outbreak. Spot gold +0.2% to $1,776.01/oz at 8:10am in Singapore. Last week,...

Gold Rises Back Near $1,800 as U.S. Dollar Softens to Start July's First Full Week

Gold futures headed higher early Monday, supported in part by a weakening U.S. dollar, which was providing a runway for the commodity even as global stocks rallied. The U.S. dollar was off 0.5%, as measured by the ICE U.S. Dollar Index, a gauge of the buck against a half-dozen currencies. A weaker U.S. dollar can make assets priced in the currency more attractive to buyers using other monetary units. Against that backdrop, August gold rose $4.30, or 0.2%, at $1,794.50 an ounce, after the...

Gold Ticks Up on Concerns Over Increase in Virus Cases

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend. U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.4 million. Mexico overtook France with the fifth-deadliest outbreak, while India™s coronavirus epidemic became the third...

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