According to the COMEX, gold futures were traded in December at $ 1943.55 per ounce, up 0.28%. It previously traded at a session high $ 1952.65 an ounce. Gold may find points of support at $ 1874.20 and resistance at $ 2089.20. The dollar index, which measures the performance of …
Read More »FX Option Expiries For Aug 13 NY Cut
FX option expiries for Aug 13 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1650 518m1.1700 1.6bn1.1725 602m1.1760 589m1.1775 521m1.1825 634m – USD/JPY: USD amounts 105.50 1.0bn106.00 1.1bn106.70 888m107.00 850m107.20 651m107.30 378m – GBP/USD: GBP amounts 1.3000 750m – AUD/USD: AUD amounts 0.7100 1.2bn – …
Read More »NYSE Finishes Wednesday with Huge Gains
The New York Stock Exchange (NYSE) closed higher on Wednesday, with the S&P500 index failing for the second consecutive day to close at a new record high after trading above its highest ever closing level. The Dow Jones Industrial Average added 1.05% or around 290 points, while the the S&P …
Read More »DXY Closes Another Day in Losses
The Dollar Index (DXY), which measures the performance of the U.S. Dollar (USD) against a basket of six major currencies, continued its downward trend on Wednesday. DXY settled lower by 0.21% at 93.43, after moving throughout the day between 93.27 and 9.91 and closing Tuesday at 93.63. The absence of …
Read More »CHF Shows Strong Gains Across the Board
The Swiss Franc (CHF) is showing a strong performance across the board, rising against most of the major currencies, supported by an increased demand for safe havens. The CHF is up by 0.52% against the U.S. Dollar (USD), with the USD/CHF pair trading at 0.91186. Similarly, the CHF is up …
Read More »Oil Settles at Highest Level in Five Months
Oil prices increased on Wednesday, reaching their highest level in about five months, supported by the decrease in U.S. crude inventories. Brent crude futures for October delivery settled higher by 93 cents, or 2.1%, at $45.43 per barrel, its highest closing level since March 5. Meanwhile, the West Texas Intermediate …
Read More »Gold Resumes Gains after Brief Correction
Gold prices seem to have recovered from a strong correction wave on Tuesday, after closing higher on Wednesday, which reflects the high demand for the precious metal as a safe haven. According to market analysts, the losses of Tuesday were also due to an increase in the U.S. Treasury yields. …
Read More »U.S. Budget Deficit at $63 B in July
The United States federal budget deficit declined to $63 billion in July, compared with $864 billion in June, Reuters reported. This is attributed to a delayed payment deadline on July 15, which boosted revenues last month. Deficit since the beginning of 2020 to the end of July stands at $2.81 …
Read More »Kaplan: Containing Pandemic Could Lower Unemployment
Americans must learn how to live with the virus and follow the preventive health measures to ensure the pandemic is contained and so that the economy remains open, according to the President of the Federal Reserve Bank of Dallas, Robert Kaplan. “If we don’t follow that, while people may feel …
Read More »Rosengren: Controlling Virus Helps in Managing Debt
Economic recovery in the United States is largely dependent on the situation of the COVID-19 Pandemic, according to the President of the Federal Reserve Bank of Boston, Eric Rosengren. Rosengren expects consumer spending to remain weak as the economy struggles with the pandemic, Reuters reported. “I would say that taking …
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