|Day's Range||1,118.40 - 1,127.40|
Canada's main stock index rose on Monday, led by energy companies, as sentiment was buoyed by signs of an interest rate reform in China that raised hopes that major economies would act to counter slowing economic growth. * China's central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States. * At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 61.6 points, or 0.38%, at 16,211.39.
A weekend attack on a Saudi oil facility by Yemeni separatists sends oil prices higher. Here's a rundown on big winners and losers from the oil price rally.
Over the weekend, White House economic adviser Larry Kudlow said trade deputies from the United States and China would speak within 10 days and could advance negotiations over ending the trade dispute between the two economic powerhouses if those talks pan out.
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.
Papua New Guinea plans to take a larger share of the Porgera gold mine as part of lease-renewal talks, diluting the ownership of joint venture partners Barrick Gold Corp and Zijin Mining Group, the country's commerce minister told Reuters on Monday. Porgera, located in PNG's northern highlands region, is expected to produce 240,000 to 260,000 ounces of gold this year. PNG's Minister for Commerce and Industry, Wera Mori, said a portion of Barrick and Zijin's stakes would be given to the national and provincial governments and to landowners.
Papua New Guinea wants a larger share of the Porgera gold mine as part of lease-renewal talks, diluting the ownership of joint venture partners Barrick Gold Corp and Zijin Mining Group , the country's commerce minister told Reuters on Monday. PNG's Minister for Commerce and Industry, Wera Mori, said a portion of Barrick and Zijin's stakes would be given to the national and provincial governments and to landowners. "We would like to see the mine to continue, but this time to be structured in such a way with a lot more national interest in it," Mori told Reuters in an interview in Sydney.
Powell will essentially have to talk tough in an effort to calm the financial markets. If he misses then he may actually trigger more volatility in the stock markets that could send investors back into the Japanese Yen for safety.
The week will start with mixed weather conditions. NatGasWeather points out blistering conditions in Texas and out West, but cooler-trending weather outlooks for the rest of the country.
Çanakkale (Turkey) (AFP) - Hundreds of Turks on Sunday attended a piano recital by composer Fazil Say in protest at deforestation for the construction of a cyanide gold mine in northwestern Turkey. Canadian mining firm Alamos Gold Inc., which has bought the site near the town of Kirazli in the Canakkale province, has faced strong resistance from activists over the last two weeks.
On Friday, October WTI crude oil settled between a pair of 50% levels at $53.95 and $55.72. Since the trend is down, we’ll look at it from the short-side perspective. Based on the close at $54.81, the direction of the market on Monday is likely to be determined by trader reaction to the main 50% level at $55.72.
This principle fuels Fattobene, an online store that celebrates curious traditional household goods from all over Italy. Its products, 150 of which are now being sold at the MoMa Design Store in New York, includes charming Genoese soaps, handmade brooms, healing Ligurian sulfur sticks, graphic floor tiles by Milanese architect Gio Ponti, and sexy tape dispensers manufactured by an industrial machine shop in Lombardy. Fattobene, which means “well-made” in Italian, is the brainchild of lifestyle journalist Anna Lagorio and stage-director-turned-photographer Alex Carnevali.
Based on last week’s price action and the close at .6425, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the pivot at .6483.
Gold exchange-traded funds are regaining their luster. Investors poured about $2.6 billion into gold-backed ETFs in July, increasing their collective holdings to 2,600 tons—the highest total since March 2013, data from the World Gold Council show.
The main trend is up according to the daily swing chart. A trade through 98.700 will signal a resumption of the uptrend. A move through 96.980 will change the main trend to down.
The main trend is down according to the daily swing chart. A trade through $57.40 will change the main trend to up. A move through $50.50 will signal a resumption of the downtrend.
Gold futures fell on Friday, but posted a gain for the week--their third in row. "Drivers for gold have included global growth in negative interest rate bonds, the decline in real interest rates in the U.S., [and] uncertainty regarding U.S./China trade policy and political unrest in Hong Kong," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. However, "with bonds and gold overbought and bullish speculative positions at relative extremes last week ... gold may be due for a near-term pause," he said. December gold fell by $7.60, or 0.5%, to settle at $1,523.60 on Comex. For the week, most-active contract prices rose by 1%, according to FactSet data.
The S&P; 500 has been very noisy during the week, breaking down towards the 50 week EMA before bouncing. It this does show a bit of conflict, which after the last couple of weeks might be a good thing.
The Australian dollar has chop around during the week, showing signs of exhaustion, as the Australian dollar of course continues to suffer at the hands of the US/China trade war which seems to only be getting worse.
Silver markets fell rather hard during the trading session on Friday to close out the week but have turned right back around to show signs of support. At this point, the market looks very likely to continue the uptrend but a pullback is possible.