Tag: Commodities

Gold Drops as US Stock Markets Recover

Gold has posted strong losses in the Tuesday session. In North American trade, the spot price for an ounce of gold is $1328.04, down 0.86% on the day. On the release front, JOLTS Jobs Openings slowed to 5.81 million, well off the estimate of 5.95 million. Gold prices moved higher on Monday, following a massive sell-off […]

Gold Shrugs as US Services PMI Beats Expectations

Gold has posted small gains in the Monday session. In North American trade, the spot price for an ounce of gold is $1335.14, up 0.15% on the day. On the release front, the ISM Non-Manufacturing PMI climbed to 59.9, above the forecast of 56.5 points. This points to strong expansion in the services sector and […]

Dollar Rebounds After Strong Jobs Report

US added 200,000 positions in January The US dollar rose against major pairs on Friday. The release of the U.S. non farm payrolls (NFP) proved to be the much needed shot in the arm after the greenback was under pressure for most of 2018. The job gains were above expectations but more importantly the hourly […]

Gold Ticks Lower, Investors Eye Nonfarm Payrolls

Gold has posted small losses in the Thursday session. In North American trade, the spot price for an ounce of gold is $1343.22, down 0.14% on the day. On the release front, employment data was positive, as unemployment claims dropped to 230 thousand, below the forecast of 237 thousand. ISM Manufacturing PMI slowed to 59.1, but […]

USD/CAD Canadian Dollar Higher After Strong GDP and Persistent USD Weakness

The Canadian dollar is higher on Wednesday after the economy accelerated its growth in November. Canadian GDP is posted monthly and showed a gain of 0.4 percent in November. The Canadian economy started 2017 with a bang which led the Bank of Canada (BoC) to raise rates twice before a slowdown in the third quarter. […]

DoubleLine CEO Says Weak USD Good for Commodities

There’s good news ahead for commodities, with a particular bet on metals, as the outlook for the dollar looks to stay grim, according to experts. DoubleLine CEO Jeffrey Gundlach made a call for commodities during a webcast Tuesday, during which he predicted commodities would soon outperform stocks. This correlates with the weakness of the dollar, […]

Could WTI reach USD 70.00 per barrel ?

By Sara Israfilbayova From a fundamental perspective, the continuous fall in the U.S. oil inventories is driving market given the positive global growth narrative, Stephen Innes, Head of FX Trading for OANDA told Azernews. The expert said that oil markets were at the epicentre of volatility with WTI breaking the $ 66.00 per barrel market […]

Gold Trading Sideways Ahead of Fed Rate Statement

Gold has ticked lower in the Tuesday session. In North American trade, the spot price for an ounce of gold is $1339.51, down 0.13% on the day. On the release front, CB Consumer Confidence rose to 125.4, above the estimate of 123.2 points. Later on Tuesday, President Trump will deliver his State of the Union […]