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Gold Gain Momentum Amid Global Trade Worries

Gold Gain Momentum Amid Global Trade Worries

Commodities by
Gold started the day higher today after yesterday’s correction at $1,330. The precious metal, trades at 1,336 hitting the low at 1332.21 and the daily high at 1,338.25. Investors focus turn back to safe heaven assets as global trade worries are back on the table. The possibility of a rate [...]
AUDUSD Testing the 0.69 Support

AUDUSD Testing the 0.69 Support

Forex by
The Aussie dollar trades lower for one more day during the Asian trading at 0.6911, after the Australian jobless rate inched higher in May and bolstered July RBA rate cut hopes. President Donald Trump threatened to impose another round of tariffs on Chinese goods if he does not reach a [...]
BTC Finally Breaks above 8,000

BTC Finally Breaks above 8,000

Cryptocurrencies by
Βitcoin (BTCUSD) finally breaks above the key 8,000 resistance, having spend 6 days between 7,500 and 8,000 range. The daily low for BTC was at 7,855 and the daily high at 8,261. Bitcoin capitalization also jumped 2.51 percent at 144 billion. The market capitalization of the top 100 cryptocurrencies also [...]
Crude Oil: Yes, the Relief Rally is Over!

Crude Oil: Yes, the Relief Rally is Over!

Commodities by
Crude oil continues lower today for third day in a row, giving up over two dollars to 51,07 The selloff intensifies as we are approaching the closing bell. The Energy Information Administration announced earlier that the commercial crude oil inventories in the U.S. increased by 2.2 million barrels for the [...]
GBPUSD Extends the Range High

GBPUSD Extends the Range High

Forex by
Pound rise to a new weekly high today after USA CPI data, yesterday the latest UK employment report showed that headline wages ticked up to 3.1% for the three months to April, while the ex-bonus measure - at 3.4% 3m/y, was also stronger than analyst’s estimates. The UK economy contracted [...]
CPI chart

Forex Update before U.S. CPI

Forex by
Fx markets are trading sideways during European session as traders await the CPI figures from the other side of the Atlantic. Euro, USD and GBP are flat for the day while AUDUSD is trading 0.17 percent lower at 0.6950. The yen is trading 0.16 percent higher against USD at 108.35. [...]
USDCHF: Higher for Third Day

USDCHF: Higher for Third Day

Forex by
USDCHF continues its trip north for third consecutive session reaching 0.9930 rebounding from the lows at 0.9850. The move today cancels the bearish outlook for the pair which sketched after traders convinced that the Fed will eventually move to more interest rates cuts by the end of 2019. Global trade [...]
USDJPY at Weekly Lows, U.S. Consumer Price Index in Focus

USDJPY at Weekly Lows, U.S. Consumer Price Index in Focus

Forex by
USDJPY is under selling pressure today after news that President Trump was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees again to four or five "major points" that Trump did not specify. The USD price dynamics will continue to drive the [...]
USDCAD Trades Higher but Mood is still Bearish

USDCAD Trades Higher, Mood still Bearish

Forex by
USDCAD started the daily higher adding 20 pips to 1.3283 as the recent retreat in crude oil prices Canada’s main export item seems to have added further weakness in the Canadian Dollar (CAD). The loonie boosted previous week by increased speculation about interest rates cut from FED. Meanwhile President Trump [...]
EURUSD: Another Leg Higher?

EURUSD: Another Leg Higher?

Forex by
Euro started the day strong at 1.339 approaching the monthly high at 1.1347 from Friday. Fed funds futures are currently pricing in three rate cuts for 2019. I believe that the longer the trade war goes on, and tariffs are in place against China, the more likely is that the [...]
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