|Day's Range||97.41 - 97.60|
|52 Week Range||95.03 - 99.67|
The Trump administration has decided to restore aluminum and steel tariffs on Brazil and Argentina. Both countries had exemptions from 25% steel and 10% aluminum tariffs last year. Independent Women's Forum Board Member and Former NY Congresswoman Nan Hayworth joins Yahoo Finance’s Zack Guzman and Brian Cheung to discuss on YFi PM.
Based on the early price action and the current price at 97.570, the direction of the December U.S. Dollar Index the rest of the session on Tuesday is likely to be determined by trader reaction to the downtrending Gann angle at 97.620.
Equities started the week a touch softer, S&P500; down 0.2% heading into the close, with similar declines seen in Europe. US 10-year treasury yields fell slightly while oil closed lower in the NY trading session.
Risk ON mode is back on the market. Prices of riskier assets are climbing up and safe heavens are drowning. This can especially be seen on gold, when Friday was one of the worst days in the past few weeks.
Based on the early price action, and the current price at 97.625, the direction of the December U.S. Dollar Index the rest of the session on Monday is likely to be determined by trader reaction to the downtrending Gann angle at 97.745.
With stats on the lighter side, we can expect geopolitics to be in focus. Trade and the UK General Election are likely to be the talking points…
Nonfarm payrolls from the U.S will influence later in the day. The UK election opinion polls and trade news also need a watchful eye.
The year is ending but Brexit and trade wars continue being the hottest topics. In this article, we will consider events that will determine the market sentiment of the last month of the year.
After weaker than expected ISM manufacturing PMI data in the US, investors will shift their focus on Non-Farm payroll report on Friday.
The odds are that it’s not, and that we’re actually seeing a business-as-usual kind of situation. That is if one knows the details of the gold trading business.
Risk sentiment returned on Wednesday, with the S&P500; back up 0.8% heading into the close and US 10-year yields up 6bps to 1.77%. The latest iteration in the trade talk saga suggests that the US President’s lack of urgency on trade negotiations should not be interpreted as a stall in the talks.
Based on this week’s price action and the current price at 97.520, the direction of the December U.S. Dollar Index the rest of the session on Thursday is likely to be determined by trader reaction to the short-term Fibonacci level at 97.500.
Based on yesterday’s price action and the current price at 97.670, the direction of the December U.S. Dollar Index the rest of the session on Wednesday is likely to be determined by trader reaction to the short-term 50% level at 97.690.
It’s a busy day ahead. Geopolitics, the BoC and service sector activity will keep the markets busy on the day ahead…
After Turkey also India is to be joining Russia’s Rouble-based alternative to SWIFT. Together with China, which is already linked, these countries could create the widest demographic area using the system. According to Gulf Brokers analysis, the dominance of the U.S. dollar is to be challenged.
Asian stocks erased Monday’s gains following the selloff in US equities overnight, as US President Donald Trump appeared to have launched into a fresh tariff tantrum.
The RBA gives the Aussie Dollar a boost as it holds back from any rate cut talk. Chatter on trade and UK politics will garner the market attention today.
Teaser: Let’s face it, we live in a world of radical uncertainty. Yet we’re supposed to make perfectly rational decisions – so, how do we cope with the unknown? We tell narratives, and form our decisions around them! Let’s explore the narratives in the financial markets for it reveals their importance to the gold market.
US equities dropped from record highs following the Thanksgiving holiday, with the S&P; 500 posting its most significant decline in seven weeks. All major industrials fell, led by energy and consumer staples. US treasury yields gained 1pt to 1.78%. And Oil fell precipitously ahead of this week’s OPEC meeting.
As the Thanksgiving holiday passes, traders should begin to understand that liquidity and volume in the US and global markets typically begin to diminish over the next 30 to 45+ days. Typically, between mid-November and early January, trading volumes weaken dramatically as institutional and retail investors move away from the markets in preparation for year-end celebrations and tax planning.
Economic data out of China provides early support, as the markets look ahead Eurozone and U.S data later in the day. Geopolitics will also be in focus…