Gold prices hit their highest in more than a week on Monday, as inflationary pressures from higher oil prices helped offset the impact of an increase in US Treasury yields after a positive jobs report, while the appetite for the metal also supported a decline in stocks. Gold rose in …
Read More »Weekly Recap 31 Jan – 4 Feb
The US dollar ended last week’s trading with losses. The dollar index, which measures the US currency against a basket of major currencies, fell to 95.48 points, compared to 97.13 points posted last week. The Bank of England announced its monetary policy decision on Thursday and raised the benchmark interest …
Read More »Gold Price Stuck Around $1,800
The gold market hovers around $1,800 per ounce and might not go anywhere anytime soon as market sentiment among Wall Street traders and analysts remains neutral to bearish. Retail investors remain bullish on gold.Gold prices are caught smack in the middle of opposing forces as the global economy faces rising …
Read More »EUR/USD’s Bullish Momentum Interrupted By Strong US NFP Data
Strong US labour market data on Friday caused the EUR/USD’s pair to stumble, though not enough to trigger a lasting reversal back towards 1.1400, the fresh data has at least prevented the pair from breaching January’s highs in the 1.1480s. Though the pair has recovered back from its sub-1.1420 post-NFP …
Read More »Treasury yields reap gains ahead of NFP data
Treasury yields rose on Thursday as investors remained focused on the upcoming key NFP data. The yield on the benchmark 10-year Treasury note climbed 6 basis points to 1.831%. The yield on the 30-year Treasury bond added 5 basis points to reach 2.152%.Yields move inversely to prices and 1 basis …
Read More »Gold Is Struggling Around $1809
The non-yielding precious metal is trading above $1805. The US ADP data was worse than expected; it could be a prelude to the Nonfarm Payrolls (NFP).The Gold Index (XAU/USD) climbs in the North American session as US T-bond yields led by the 10-year benchmark note fall three basis points, undermining …
Read More »Gold Loses Momentum After Being Unable To Break $1810
The US dollar stabilizes during the American session, as the DXY trims losses. The XAU/USD fails to breaks $1810, remains above $1800.Gold peaked on European hours at $1809 and then lost strength. It pulled back following the release of US economic data to $1797 and then rose back above $1800. …
Read More »Inflation, Deficits Cannot Dim Appeal of US Treasury Bonds
US Treasury rates remain strikingly low, partly because of the safety government debt offers corporations and retirees. Markets have been in disturbance. The Federal Reserve is taking steps to cool off the economy, as questions loom about the course of the recovery. And news headlines are announcing that government bond …
Read More »Fed’s George: Aggressive balance sheet reduction may allow shallower rate path
Kansas City Fed President Esther George said on Monday that the Federal Reserve can move sooner to start reducing its bond holdings than in the past and aggressive action to shrink the US central bank’s portfolio.“What we do on the balance sheet will likely affect the path of policy rates …
Read More »Weekly Recap 24-28 January
US Data released on Friday showed the Employment Cost Index (ECI) rose 1% during the fourth quarter, and 4% during the year. Analysts at Wells Fargo point out the quarterly increase was more restrained than Q3’s 1.3% gain, and they consider that may tamp down fears of a wage-price spiral …
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