What is the difference between a recession and a depression? When your neighbor loses their job, it’s a recession. When you lose your job, that’s a depression! Not funny? Do not worry, we won’t make more jokes. Instead, we’ll analyze a new, but very important and powerful recessionary indicator. We invite you to read our today’s article, which discusses the Sahm Unemployment Index, and find out what does it say about the US economy and the gold market.
Based on the early price action and the intraday downside momentum, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the pivot at 1.1240.
Factors that are contributing to gold and silver upside are geopolitical tensions in the middle east with Iran and the United States crossing declarations, and the US capturing of the Iranian Grace 1 oil tanker in Gibraltar, Mediterranean sea, by the US and UK.
Williams’s comments are underpinning gold prices, but gains are being tempered after a spokesperson for the New York Federal Reserve told CNBC, “This was an academic speech on 20 years of research. It was not about potential policy actions at the upcoming FOMC meeting.”
Investing.com - Gold prices rose as U.S. President Donald Trump stressed that the Federal Reserve should lower rates and a survey showed that central banks worldwide were planning to increase reserve holdings.
Investing.com - The U.S. dollar was higher on Friday, even as expectations rose that the Federal Reserve will cut interest rates by half a point at the end of the month.
The Coinbase Bundle product has been deprecated, per an FAQ on the cryptocurrency exchange's site. All cryptocurrency balances that users obtained via Bundle purchases have been placed into the respective asset wallet in the Coinbase user's account.The post Coinbase has quietly shut down the Coinbase Bundle product appeared first on The Block.
Investing.com – Wall Street jumped on Friday as strong earnings from Microsoft (NASDAQ:MSFT) helped lift tech stocks, while comments from New York Federal Reserve President John Williams boosted hope of a half-point rate cut at the end of the month.
The British pound rallied against the greenback in North American trading on Thursday after rhetoric from a Fed member was perceived more dovish than expected.
As the UK leadership race comes to an end, it could simply be the passing on of the Brexit poison chalice. Can either really survive if it’s a no-deal Brexit?
A speech from New York Fed President Williams yesterday has stirred expectations of aggressive easing and sent the dollar sharply lower.
Investing.com - U.S. futures rose on Friday, after a speech from New York Federal Reserve President John Williams boosted hopes for a half-point cut in interest rates from the central bank at the end of the month.
The spotlight for the day flashes over the crucial Canadian May MoM Retail Sales data. Crude prices rose more than 2% today as the US Navy downed an Iranian drone, elevating Middle East tensions.
Investing.com -- The U.S. dollar was consolidating at lower levels Friday morning in Europe and was on track to end the week roughly where it started, after a speech from New York Federal Reserve President John Williams revived hopes of a large interest rate cut at the Fed’s next policy meeting.
Investing.com - The U.S. dollar inched up on Friday in Asia even after Federal Reserve officials bolstered expectations of an aggressive rate cut this month.
Investing.com - Gold prices gained on Friday amid intensifying tension in the Middle East and rising expectations of aggressive Fed easing.
At around 19:40 GMT, the US Dollar Index was -0.47% down as the Initial Jobless Claims computed since July 12 reported adverse statistics. The Swiss Franc pair showcased breakdown out of the 8-day old symmetrical triangle vicinity.
“Take swift action” and “keep interest rates lower for longer” may mean to some that a 25-basis point rate cut is a done deal, but to others it means “be aggressive”. Therefore, I have to conclude that the chances of a half-a-point rate cut may increase over the near-term, which could be supportive for gold prices.
Based on the early trade and the current price at $1430.60, the direction of the August Comex gold futures market the rest of the session on Thursday is likely to be determined by trader reaction to a pair of Gann angles at $1427.60 and $1426.90.
The delicate balance of forces at the Fed has been disturbed. The doves grew stronger recently, and with new governors coming, their strength may increase even further. Will gold warm up to them?
Gold markets pulled back a bit during the trading session on Thursday as we continue to see a lot of volatility. The area above the $1425 level continues to be difficult.