Gold (XAU/USD) attracts some dip-buying at the start of a new week and stalls Friday’s modest pullback from the $4,260 area, or the vicinity of its highest level since October 21. The US Dollar (USD) continues with its struggle to attract any meaningful buyers and languishes near a one-month low amid dovish Federal Reserve (Fed) expectations. This turns out…
The Fed’s rate decision dominates this week, with markets pricing a third consecutive 25bp cut after weak U.S. jobs data and conflicting labor market signals.
Gold is up $14.40 to $4210 in early Asian trading to start the week. The main driver of gold this week will be the FOMC decision and how dovish/hawkish the messages from Powell are and the dots. A cut is all-but assured. Zooming out, the last week of low gold volatility is a real outlier over the past few…
West Texas Intermediate (WTI) US Crude Oil prices struggle to capitalize on a three-week-old uptrend and oscillate in a narrow band during the Asian session on Monday. The commodity, however, remains close to a two-week high, touched on Friday, and currently trades just below the $60.00 psychological mark, down less than 0.10% for the day. Reuters, citing sources familiar…
Good on anyone who sniffed out the Warner Brothers sale last year as it’s been better than a 3x trade. The upside is now limited to $27.75 per shares, which is what Netflix bid as part of the $72 billion equity deal plus debt. It’s a huge bid in a tough industry as Netflix tries to put its stamp…
The USD/JPY pair loses ground to near 155.25 during the early Asian session on Monday. The US Dollar (USD) weakens against the Japanese Yen (JPY) as traders brace for the Federal Reserve (Fed) meeting this week, where policymakers are widely expected to cut interest rates. The final reading of Japan’s Gross Domestic Product (GDP) report for the third quarter will be…
Futures trading has resumed with some small moves so far. S&P 500 futures up 5 points, or 0.05% Gold futures up $3 WTI futures up 10-cents If spoos finish higher today, it will be the fifth day in a row of gains and 10th in the past 11. This article was written by Adam Button at investinglive.com.
United States Baker Hughes US Oil Rig Count above forecasts (409): Actual (413)
The new week is underway and the early FX moves are minimal. I haven’t seen any economic data or news that’s particularly notable, so we will take the market moves as they come. The big data drop today comes at 2350 GMT with the result of Japanese Q3 GDP. This is the second revision and expected at -2.0% annualized…
Daily projections and intraday micro-structure converge as futures compress inside key zones. Nasdaq futures respect key structural zones ahead of the next expansion move Friday’s price action reinforced the structural roadmap outlined in the previous analysis, with both the daily Chart and the intraday 5-minute structure validating the projected levels. The market continues to follow the same behavioural patterns…
