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Results 161 to 170 of 451
  1. #161

    Gold prices inch up to 2-week peak

    Gold prices inch up to 2-week peak

    On Thursday, gold prices added to a two-week peak amid low-volume holiday trading, as the greenback and global stock markets pulled back, driving the appeal of the yellow metal.

    In New York, February delivery gold futures added to a session high of $1,151.30 a troy ounce, an outcome not observed since December 14.

    Trade is supposed to remain thin for the rest of the week as most market participants are away for year-end holidays.

    The greenback edged down on Thursday, declining from its 14-year-peak against a basket of six main currencies, as market participants took profits in the run-up to the end of 2016.

    Meanwhile, European as well as Asian stock markets decreased in wake of a downbeat performance on Wall Street overnight, where stocks dipped across the board with the S&P 500posting its largest daily decline since October 11.

    Market experts warned that the outlook for gold remains quite cloudy in the near-term, considering hopes for higher American interest rates in the months ahead.

    [Only registered and activated users can see links. ]Important Forex News Daily-gold-jewellery-thinkstock-820-10-jpg

  2. #162

    Yen Climbs to 2-Week High on Positive BoJ Summary

    USD/JPY has posted losses in the Thursday session. Currently, the pair is trading at 116.50. On the release front, the BoJ released its Summary of Opinions. In the US, today's highlight is unemployment claims, with the indicator expected to edge up to 277 thousand.
    The yen has climbed to 2-week highs on Thursday, courtesy of a positive report from the Bank of Japan. The bank's Summary of Opinion, which was modestly upbeat, comes on the heels of last week's rate statement, where the BoJ held rates at -0.10%. The summary noted that the economy is showing "moderate recovery", boosted by stronger exports and steady consumer consumption. The report gave a thumbs up to the economy, stating that growth was expected to remain strong.
    Japanese indicators were a mixed bag on Wednesday. Preliminary Industrial Production gained 1.5%, but this fell short of the forecast of 1.8%. There was better news from retail sales, which posted a strong gain of 1.7%. Earlier in the week, consumer indicators disappointed. Household Spending declined 1.5%, marking a ninth straight decline. The markets had predicted a small gain of 0.2%. The Japanese economy continues to grapple with deflation, as underscored by Tokyo Core CPI. The key indicator came in at -0.6%, weaker than the estimate of -0.4%. The BoJ continues to cling to its inflation target of 2.0%, but this goal is unlikely to be realized anytime soon. At the same time, the Japanese yen is down sharply, losing 11% since November 1. If the currency continues to head south, inflation levels could move higher.
    With the US economy continuing to expand sharply, US consumers are brimming with confidence, in what analysts are describing as a post-election surge in optimism. Recent consumer confidence surveys are pointing upwards, as the US consumer is optimistic that economic conditions will continue to improve under the incoming Trump administration. The CB Consumer Confidence report surged in December to 113.7, its highest level since August 2001. This reading comes on the heels of UoM Consumer Sentiment, which climbed to a 12-year high, with a reading of 93.8 points. Both of these well-respected surveys found that consumers are confident that continuing economic growth will create new jobs and raise incomes. Trump's economic platform remains short on details, but he has promised to cut taxes while increasing public spending. If Trump manages to implement both of these goals, the US economy could heat up and also help global growth pick up speed.

  3. #163

    European shares undergo profit-taking

    On Thursday, European stocks traded broadly lower in early morning trade, following the trend set on Wall Street right after the Dow dashed immediate expectations for busting 20,000 points by simply registering its second largest drop since the November 8 presidential elections.

    During European morning trade, the Euro Stoxx 50 sank 0.11%, French CAC 40 declined 0.11%, while German DAX 30 dived 0.33%.

    Market participants also took profit in the larger European Stoxx 600 right after the index had closed Wednesday at its highest value in a year.

    In December, the UK sawing housing prices tacked on 0.8%, above the forecast 0.2% surge, while the annual change surged to 4.5% from a prior 4.4% leap, beating hopes for a 3.8% revenue.

    In November the euro zone witnessed the M3 money supply surge 4.8%, above hopes for a repeat 4.4% rally, as private sector loans grew 1.9%.

    Meanwhile, crude prices dropped moderately in light pre-New Year holiday trade on Thursday because traders waited for fresh weekly information on American stockpiles of crude as well as refined products.

    [Only registered and activated users can see links. ]Important Forex News Daily-bn-ju592_stocks_p_20150811094441-1-1-jpg

  4. #164

    Wall Street shares are set to struggle as traders brace for more data

    Wall Street shares are set to struggle as traders brace for more data

    On Thursday, American equities were facing a moderately weaker start, as stock futures dropped a day after the S&P 500 faced its biggest loss in months, while the Dow industrials backed further away from 20,000.

    Weekly jobless claims along with trade-balance data will be in focus for market participants on Thursday.

    Dow Jones Industrial Average futures YMH7 dropped 12 points, hitting 19,763, while those for the S&P 500 index ESH7 eased 0.3 point, reaching 2,245. Nasdaq-100 futures NQH7 sank 3.25 points, trading at 4,920.50.

    On Wednesday, the S&P 500 SPX witnessed the biggest one-day and percentage sag since October 11, declining 0.8% and reaching 2,249.92, while Dow industrials DJIA dropped 111.36 points, being worth 19,833.68, the biggest dive since December 14. The losses arose because an index, measuring pending home sales suddenly edged down 2.5% in November, getting to the lowest level for a year.

    [Only registered and activated users can see links. ]Important Forex News Daily-sdaasda-jpg

  5. #165

    Canadian Dollar Edges Higher, Markets Eye US Jobless Claims

    The Canadian dollar has posted small gains in the Thursday session. Currently, USD/CAD is trading at 1.3530. It continues to be quiet on the release front, with no Canadian events this week. In the US, today's highlight is unemployment claims, with the indicator expected to edge up to 277 thousand. The US will also release Crude Oil Inventories, with the markets expecting a decline of 1.3 million.
    As the Canadian dollar is a commodity-sensitive currency, any movement in crude oil prices can affect the movement of USD/CAD. Crude prices remain strong, as the recent agreement between OPEC and other oil exporters, which calls for production cuts, is expected to begin on January 1. Under the agreement, production is expected to drop 1.8 million barrels per day. Saudi Arabia, OPEC's largest producer, has agreed to bear most of the cuts in production. However, if oil exporters abide by their commitments under the deal, it's questionable if crude prices will continue to rise, as US shale producers are likely to step in if oil prices move above the $60 level.
    With the US economy continuing to expand sharply, US consumers are brimming with confidence, in what analysts are describing as a post-election surge in optimism. Recent consumer confidence surveys are pointing upwards, as the US consumer is optimistic that economic conditions will continue to improve under the incoming Trump administration. The CB Consumer Confidence report surged in December to 113.7, its highest level since August 2001. This reading comes on the heels of UoM Consumer Sentiment, which climbed to a 12-year high, with a reading of 93.8 points. Both of these well-respected surveys found that consumers are confident that continuing economic growth will create new jobs and raise incomes. Trump's economic platform remains short on details, but he has promised to cut taxes while increasing public spending. If Trump manages to implement both of these goals, the US economy could heat up and also help global growth pick up speed.

  6. #166

    Gold Climbs as Dollar Dips in Thin Holiday Trade

    Gold has posted strong gains in the Thursday session. In North American trade, the spot price for one ounce is $1156.00. It's another quiet day on the release front. Unemployment claims, the final major indicator of 2016, dropped to 265 thousand, easily beating the forecast of 277 thousand.
    Gold prices have climbed 1.2% on Thursday, the strongest 1-day gain we've seen since late September. With the stock markets and US dollar pulling back in low-volume trading, the metal has taken advantage and climbed closed to the $1160 level, marking a 2-week high. Still, gold is down in the month of December, and the metal has suffered a dismal fourth quarter. Even with Thursday's gains, gold has slipped 12 percent since October 1. There could be more trouble ahead for gold, as strong economic growth could lead to further interest rate hikes in early 2017, which would push gold prices lower.
    A strong US economy has boosted confidence levels among US consumers, in what analysts are describing as a post-election surge in optimism. Recent consumer confidence surveys are pointing upwards, as the US consumer is optimistic that economic conditions will continue to improve under the incoming Trump administration. The CB Consumer Confidence report surged in December to 113.7, its highest level since August 2001. This reading comes on the heels of UoM Consumer Sentiment, which climbed to a 12-year high, with a reading of 93.8 points. Both of these well-respected surveys found that consumers are confident that continuing economic growth will create new jobs and raise incomes. Trump's economic platform remains short on details, but he has promised to cut taxes while increasing public spending. If Trump manages to implement both of these goals, the US economy could heat up and also help global growth pick up speed

  7. #167

    Crude Steady as Crude Inventories Post Surplus

    US crude futures have posted small gains in the Thursday session. In North American trade, US crude is trading at $53.96. Brent crude futures are trading at $56.25, as the Brent premium stands at $2.31. On the release front, Crude Inventories posted a small surplus of 0.6 million, compared to the forecast of a decline of 1.3 million. On the labor front, jobless claims dropped to 265 thousand, easily beating the forecast of 277 thousand.
    Crude Inventories posted a surplus of 0.6 million barrels, marking a second straight surplus after four consecutive declines. Crude prices remain strong, as the recent agreement between OPEC and other oil exporters, which calls for production cuts, is expected to begin on January 1. Under the agreement, production is expected to drop by 1.8 million barrels per day. Saudi Arabia, OPEC's largest producer, has agreed to bear most of the cuts in production. Compliance has long been a problem for OPEC, as many members have simply disregarded their production quotas, helping to sustain the global oversupply which production agreements are supposed to reduce. Even if oil exporters abide by their commitments under the deal, it's questionable if crude prices will rise substantially, as US shale producers are likely to step in if oil prices move above the $60 level.
    With the US economy expanding at an impressive rate, US consumers are brimming with confidence, in what analysts are describing as a post-election surge in optimism. Recent consumer confidence surveys are pointing upwards, as the US consumer is optimistic that economic conditions will continue to improve under the incoming Trump administration. The CB Consumer Confidence report surged in December to 113.7, its highest level since August 2001. This reading comes on the heels of UoM Consumer Sentiment, which climbed to a 12-year high, with a reading of 93.8 points. Both of these well-respected surveys found that consumers are confident that continuing economic growth will create new jobs and raise incomes. Trump's economic platform remains short on details, but he has promised to cut taxes while increasing public spending. If Trump manages to implement both of these goals, the US economy could heat up and also help global growth pick up speed.

  8. #168

    Morning brief for December 30

    EUR/USD spiked to 1.0653 in the course of the Asian session (its biggest intraday gain since early November). The US dollar slackened on the year-end profit-taking. There wasn’t any news hitting the wires. Italy’s government is going to bailout the country’s banks. The senior officials are puzzled what made the ECB double its estimate of the capital shortfall for Monte dei Paschi di Siena. We don’t expect much zest from the prices today.

    USD/JPY is trading near the 116.70. The upper border of Ichimoku cloud on the H4 timeframe is acting as a resistance. The US bond yields which have been rising since the US presidential election made a reversal and went in the opposite direction towards 2.467 from its last-week peak at 2.650.

    GBP/USD edged up to 1.2280. The currency pair plunged to its three-decades low after the British people voted to leave the EU. The UK macroeconomic data showed a certain degree of resilience and offered a modest support to GBP. Many analysts believe that the sterling will be rather strong until the hard Brexit scenario comes into play.

    AUD/USD ticked up on the weakening of the greenback. Keep in focus Chicago PMI coming from the US later today. The index should not bring big moves to the chart, however.

    Kiwi retraced from 0.6980 to 0.6950 on the Asian session.

    USD/CAD slumped to 1.3455 due to the rising oil prices and falling US dollar. Brent futures soared to $57.10. Oil prices gained 51% in the course of this year due to the OPEC and other producing countries commitments to cut their output.

  9. #169

    Happy New Year to all traders!

    Here is the end of another choppy year that brought a great many of peaks and troughs to our technical charts. There were many joys and sorrows we will be nostalgic for, many turnaround events that will be stamped in our memories. May your gut feeling never go back on you, your setups be always profitable, and your financial accounts get fat next year!

    [Only registered and activated users can see links. ]Important Forex News Daily-001-grinch-2-web-5660cdd6c5cbb-5660d9dcb6389-1-jpg

  10. #170

    EUR/USD: Euro Trading on a Stronger Footing in the Asian Session

    For the 24 hours to 23:00 GMT, the EUR rose 0.76% against the USD and closed at 1.0494.
    In the US, data revealed that advance goods trade deficit unexpectedly widened to $65.3 billion in November, as a stronger greenback weighed on the nation's exports. Markets expected the nation's goods trade deficit to narrow to $61.6 billion, following a revised deficit of $61.9 billion in the previous month. On the other hand, the nation's initial jobless claims dropped to a level of 265.0K in the week ended 24 December 2016, meeting market expectations and pointing to a resilient labour market. In the prior week, initial jobless claims had recorded a reading of 275.0K. Also, the nation's preliminary wholesale inventories advanced 0.9% MoM in November, more than market expectations for a rise of 0.2% and after recording a revised drop of 0.1% in the prior month.
    In the Asian session, at GMT0400, the pair is trading at 1.0528, with the EUR trading 0.32% higher against the USD from yesterday's close.
    The pair is expected to find support at 1.0421, and a fall through could take it to the next support level of 1.0314. The pair is expected to find its first resistance at 1.0643, and a rise through could take it to the next resistance level of 1.0758.
    Next week, market participants would focus on the flash consumer price inflation, final manufacturing and services PMIs, across the Euro-zone along with the ECB's recent meeting minutes, to get better insights into the region's economy. Additionally, Germany's unemployment rate, construction PMI as well as factory orders data, all due next week, would also be keenly watched by investors. Moreover, traders would also look forward to the US Chicago purchasing managers' index, scheduled to release later in the day.
    The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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