|Day's Range||1,250.60 - 1,262.20|
For Leo Melamed, a crystalizing moment came at some point in 1986, as he was standing near a typically frenetic S&P 500 Index futures pit at the Chicago Mercantile Exchange. "It was crowded and busy, runners dashing back and forth," Melamed, chairman of CME's executive committee at the time, said in an interview in his office earlier this month. Nearly nine out of 10 trades at CME now happen on CME Globex, which has become the world's biggest electronic trading platform.
(Reuters) - Canada's main stock index rose on Wednesday as the domestic annual inflation rate dropped sharply in November, underscoring market expectations that imminent interest rate hikes are off the table. Lower gas prices pulled the inflation rate down to 1.7 percent, below the Bank of Canada's 2.0 percent target for the first time in 10 months. At 9:40 a.m. ET (14:40 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 83.13 points, or 0.58 percent, at 14,500.02. The biggest gainer among the 11 major sectors was the materials sector's 1.7 percent rise. ...
Canada's main stock index rose on Wednesday as the domestic annual inflation rate dropped sharply in November, underscoring market expectations that imminent interest rate hikes are off the table. Lower ...
Gold prices on Wednesday climb toward their highest finish in nearly six months, finding support from a weaker U.S. dollar ahead of the Federal Reserve’s final monetary policy decision of 2018.
Ewan Downie has been the CEO of Premier Gold Mines Limited (TSE:PG) since 2006. First, this article will compare CEO compensation with compensation at similar sized companies. After that, we Read More...
In a report published on November 26, Goldman Sachs (GS) stated that commodities (COMT) could climb 17% in the coming months. It believes that commodities will escape a 2015-style price collapse. Among commodities, GS is particularly bullish on oil (USO), gold (GLD), and base metals (DBB). According to CNBC, Goldman Sachs said, “Given the size of dislocations in commodity pricing relative to fundamentals with oil now having joined metals in pricing below cost support, we believe commodities offer an extremely attractive entry point for longs in oil, gold and base.”
The real focus for gold investors should not be on the December rate hike, but on what the outlook for 2019 and 2020 looks like.
The Federal Reserve is due to announce its decision 1900 GMT after its final two-day policy meeting of the year. Fed Chairman Jerome Powell is scheduled to hold a press conference following the interest rate decision.
Based on the price action the last two sessions, the direction of the March E-mini Dow Jones Industrial Average on Wednesday is likely to be determined by trader reaction to this week’s low at 23476. Taking out 23476 then recapturing yesterday’s close at 23609 will indicate the buying is greater than the selling at current price levels. This could trigger a strong intraday rally. A higher close will form a daily closing price reversal bottom. This could fuel the start of a 2 to 3 day counter-trend rally.
Based on the early price action, the direction of the February Comex gold futures contract on Wednesday is likely to be determined by trader reaction to the main top at $1256.60.
Gold prices climbed to a more than five-month peak during Asian market hours as a softer dollar supported the bullion while investors awaited cues on the rate hike trajectory of the U.S. central bank from its two-day policy meeting.
Investing.com - Gold prices were flat on Wednesday in Asia as traders awaited cues on the rate hike paths of the U.S. Federal Reserve from its two-day policy meeting.
Based on yesterday’s low and the early price action, the direction of the February WTI crude oil futures contract on Wednesday is likely to be determined by trader reaction to $46.11. Taking out $46.11 then recapturing yesterday’s close at $46.60 will put the market in a position to form a potentially bullish closing price reversal bottom. We could see some short-covering on an intraday basis, but it needs to close over $46.60 to actually form the reversal bottom on the daily chart.