Gold markets fell a bit during the trading session on Monday, to reach down and test the $1500 level. By doing so, the Gold markets look as if they are going to continue to attract a lot of money. At this point, I think gold is going to continue to show strength.
The British pound fell a bit during the trading session on Monday to kick off the week, as the Brexit continues to cause major issues. Ultimately, it looks as if the downtrend should continue. With that in mind I continue to sell signs of exhaustion.
The British pound went back and forth during the trading session to open the week on Monday, as we continue to see a lot of questions about the Brexit. Beyond that, we have a certain amount of concern when it comes to global economics.
The Euro tried to rally during the trading session on Monday but has continue to find resistance just above. By selling off after trying to rally, it shows just how soft the Euro truly is.
The Australian dollar has gone back and forth during the trading session on Monday, as we have reached towards the 0.68 AUD level above, an area that has caused quite a bit of resistance as of late.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112.
Gold prices could weaken for several days as traders trim positions ahead of the start of the central banker symposium at Jackson Hole, Wyoming.
Gold and silver are trading down on Monday as investors are betting on riskier assets such as equities and currencies. XAU/USD is testing the 1,490 area, while silver is trading below the 17.00 area.
The European currency got under significant pressure last week and reminded market players that European problems may be much more complicated than meets the eye.
After Friday’s close, Traders were not putting much weight behind current price action thinking it was little more than profit-taking going through from a variety of overextended risk-off bets or as we call it on the desk “a predictable short-covering rally into the weekend.” But risk assets have opened up on stable footings this morning on the back of positive trade comments from President Trump as investors continue to view each sliver of trade optimism in an extremely positive light. This, despite the domino effect from Argentina plus China and the Eurozone economic woes with triggering the U.S. curve inversion panicking investors while sounding the recessionary alarm bells.
Fidelity Charitable, the financial services giant’s charity unit, is now accepting XRP, the world’s third-largest cryptocurrency, for donations. Until now, the unit accepted only four cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC), having launched the form of donation back in 2015, according to an announcement shared with The Block late […]The post Fidelity’s charity unit includes XRP to its list of accepted cryptos for donation; hits $100 million-mark appeared first on The Block.
Inflation in the eurozone was the weakest in more than two years in July, according to data released Monday, underscoring the difficulties the European Central Bank has in trying to stimulate the economy as member states keep a tight lid on spending.
Investing.com -- U.S. stocks surged at the start of the new week, with the Dow Jones rising nearly 300 points as the federal government signaled more soft-pedaling on the trade war with China for the time being.
The British pound was the strongest performer last week among the major currencies, but is under pressure in early trading today, underperforming all of its major counterparts.
This time is different. This is what the experts say. The inversion of the yield curve did a great job in predicting recessions in the past, but the current inversion is not like the previous. The predictive power of the yield curve has weakened, so it does not signal the recession.
Investing.com - The U.S. dollar was flat on Monday in Asia as traders remained cautious ahead of Federal Reserve minutes due later this week.
Markets are growing at the start of trading on Monday, supported by policy easing and hopes for stimulus. The People’s Bank of China announced an interest rate reform, which should ease credit conditions for companies.
EUR/USD was under pressure last week and closed on Friday near yearly lows. The pair is showing some signs of a recovery after catching a bid from support.
Eurostat said euro-area inflation in July slowed to 1% over the last 12 months, down from 1.3% in June and an initial estimate of 1.1%. That was the lower than the 1.1% expected in a FactSet-compiled economist forecast and the slowest growth since Nov. 2016.
On the weekly chart, the USD/CAD pair was heading upwards, targeting the center line of the Bollinger Bands. Today, traders can take a back seat as the economic calendar lacks significant USD-specific and CAD-specific events.
The world is pre-positioning and anticipating this week’s Jackson Hole Economic Symposium, with Jerome Powell the known highlight, with the Fed chair due to speak at 00:00AEST on 24 August.
The price action suggests traders have a limited bias early in the session. However, holding above the pivot at .6740 suggests a support base may be forming.
Based on last week’s price action and the close at 1.1090, the direction of the EUR/USD this week is likely to be determined by trader reaction to the short-term downtrending Gann angle at 1.1093.
Investing.com - The U.S. dollar was hovering near two-week highs against a currency basket on Monday as U.S. Treasury yields bounced back from recent lows amid hopes that major economies will seek to prop up slowing growth with fresh stimulus.