Britain begins post-Brexit trade talks with the United States on Tuesday, with 100 negotiators on each side joining via videoconference. Many in Prime Minister Boris Johnson’s Conservative government hope for a free trade agreement with Washington as one of the biggest benefits of leaving the European Union. Officials said the first round of talks would…
Japanese Yen: USD/JPY (JPY=X) Buy at 105.20 USD/JPY has opened the week’s trade on a bearish note as risk-off amid fresh US-China trade woes weighs. The major was trading 0.14% lower on the day at 106.73 at around 05:15 GMT after closing 0.23% lower on Friday’s trade. US diplomats allege China for the mishandling of…
$GDX $GLD $XAU $GOLD $NEM $USD Gold is regarded as a safe-haven in times of market uncertinty, and it is Money. Investors can gain exposure to the gold industry by buying stocks of companies engaged in the exploration and mining of the precious Yellow metal. Some of the major players in the gold industry include mining companies…
Australian Dollar: USD/AUD (AUD=X) set to edge lower The Australian dollar significantly rallied a bit during the week, breaking above the 0.65 level before selling off towards the end of the same week. Ultimately, this is a market that I think could continue to see a lot of noise, especially in this area as it is a…
Ten years after sinking into its worst economic crisis in living memory, Greece once again faces the spectre of a grave recession in the midst of a global coronavirus lockdown. Though the country has so far been spared the death toll of other European nations at fewer than 150 fatalities from COVID-19, it will not…
London and New York stocks sank on Friday after US President Donald Trump lashed out at China over the coronavirus crisis, bringing back bad memories of a damaging standoff between both countries over trade. The eurozone’s key equity markets were shut for a public holiday as were several exchanges in Asia. Investor nerves were tested…
$XAU $GLD $XAG $SLV $USD Gold slipped for a 3rd day running as countries moves toward easing stay at home restrictions and reopening economies lessened desires for safe-haven assets. Spain announced loosening measures after Tuesday’s weekly cabinet meeting. France’s PM to present the blueprint for opening up to the National Assembly. Several US states have…
Canadian Dollar: USD/CAD (CAD=X) follows gains versus big dollar, ignores $3+ drop in crude prices The CAD is modestly firmer versus the USD but gains remain light relative to the AUD and NZD on the day—AUDCAD is trading at its highest levelsince the start of the year. We are bullish on the cross and look…
$GLD $XAU $SLV $XAG $USD Australia’s largest gold refinery has ramped up production of 1 kilogram bars to ease the supply squeeze in the US that helped propel a surge in the premium for New York futures. The collapse in air travel that’s grounded passenger jets used to transport gold products and virus-related disruptions to some…
$EUR $USD The EUR fell to its lowest in a month Thursday after data showed economic activity in the Eurozone virtually halted by government-imposed lockdowns to stop the coronavirus chaos. The EUR was last at $1.07795, with investors awaiting the result of a meeting of EU leaders on the bloc’s response to the economic turmoil…