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Australian Dollar: USD/AUD (AUD=X) likely that we should continue to see downward pressure The Australian dollar initially tried to rally during the trading session on Wednesday, but then broke down significantly to reach towards the bottom of the recent consolidation. That being said, it looks as if the Australian dollar is going to continue to reach…
$GLD, $SLV, $USO, $OIL, $CORN, $WEAT, $SOY, $USD FLASH: Gold Up, USD Flat, Crude Oil Off, Stocks Off Headlines JPY holds gains, traders seek safety Crude Oil prices steady after big fall on recession concerns, inventory rise Stocks feel pain, as bond markets talk recession Gold gains as recession fears drive safe-haven demand Gold: Gold prices rose…
$XAU $USD $CHY China has severely restricted imports of gold since May, industry sources with direct knowledge of the matter told Reuters. The move may be aimed at curbing outflows of USDs and bolstering its RMB Yuan currency as economic growth slows. China has cut shipments by some 300-500 tonnes compared with last year –…
Bitcoin: USD/BTC (BTC=X) short term outlook remains a volatile one The cryptocurrency markets were flashing red again on Thursday after bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, fell by more than $900 in 24 hours. On August 14, beginning at 12:00 UTC, BTC began to fall sharply from $10,862 to as low as…
Euro: USD/EUR (EUR=X) Choppy As Recession Indicators Flash Red The Euro to US Dollar (EUR/USD) exchange rate has had a turbulent few sessions to say the least with price action – albeit confined to a $1.116 to $1.124 range – choppy over the last week amid mixed economic signals from both the US and Eurozone…
Gold 1 OZ (XAU=X) solid resistance at $1,600.00 Technically, the gold bulls have the strong overall near-term technical advantage. A 10-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in October futures above solid resistance at $1,600.00. Bears’ next near-term downside price breakout objective…
Silver 1 OZ 999 NY (XAG=X) moderately higher amid heightened concerns about slowing world economic growth Gold and silver prices are moderately higher in early U.S. trading Wednesday. Safe-haven demand continues to be featured for the two precious metals at mid-week, amid heightened concerns about slowing world economic growth. Geopolitics also remains close to the front burner of…
Canadian Dollar: USD/CAD (CAD=X) retracement continues It was a month ago now that USD/CAD had bottomed-out. While the pair had spent much of the prior 17 months trending-higher, sticking to a bullish trendline for much of the time, the month of June brought a strong change of pace as the US Dollar fell while the Canadian Dollar…
New Zealand Dollar: NZD/USD (NZD=X) traders are also paying close attention to global bond yields and investor demand for riskier currencies The New Zealand Dollar is trading flat early Wednesday with prices continuing to flatline around the mid-point of the August 7 wide-range trading session. That was the day that the Reserve Bank of New…