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Tag Archives: currency

DAX Posts Gains as ECB Drops Rate Guidance, Upgrades Growth Forecast

The DAX index has posted modest gains in the Friday session. The index is up 0.49% and is currently at 12,770.50 points. On the release front, there is just one event on the schedule. Germany’s trade surplus improved to EUR 19.8 billion, but this fell short of the forecast of EUR 20.3 billion. As expected, the ECB played it cautious at the June policy meeting. The central bank maintained the benchmark rate at 0.00%, and made no changes to...

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Gold Drops as Markets Anxiously Await British Election Results

Gold continues to lose ground, and is down 0.77% in the Thursday session. In North American trade, spot gold is trading at $1278.12 per ounce. The markets are keeping a close eye as FBI Director James Comey testifies before a Senate Committee. As well, voters in the UK are choosing a new parliament. It’s Election Day in the UK, as an election campaign marred by deadly terrorist ...

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Gold Jumps to 5-Week Highs on Soft Nonfarm Payrolls

Gold prices have posted strong gains in Friday’s North American session, climbing 1 percent. Currently, spot gold is trading at $1274.13 an ounce. On the release front, US employment numbers were a major disappointment. Nonfarm Payrolls plunged to 138 thousand, well off the forecast of 181 thousand. Wage growth softened, as Average Hourly Earnings edged lower to 0.2%, matching the forecast. The ...

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Gold Edges Lower as ADP Nonfarm Payrolls Sparkles

Gold prices have dipped lower in the Thursday session. In North American trade, spot gold is trading at $1263.22 an ounce. It’s a very busy day on the release front. US employment numbers were mixed, as the ADP Nonfarm Employment Changed jumped to 253 thousand, easily beating the estimate of 181 thousand. Unemployment claims was softer than expected, climbing to 248 thousand. The markets...

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Gold Drifting as US Markets Observe Memorial Day

After posting strong gains on Friday, gold is unchanged in the Monday session. In North American trade, spot gold is trading at $1266.79 an ounce. There are no US events on the schedule, as markets are closed for Memorial Day. On Tuesday, the key event is CB Consumer Spending. The US economy slowed down in the first quarter, but there revised estimate for growth came in at 1.2%. This was considerably higher than the 0.7% gain which was...

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Pound Slips on British Election Polls, Strong US GDP

Its been a rough outing for the British pound, as GBP/USD has dropped 1.0 percent in the Friday session. In North American trade, the pair is trading just above the 1.28 line. On the release front, US Preliminary GDP for the first quarter posted a strong gain of 1.2%, beating the estimate of 0.9%. This was a strong improvement over the Advance GDP release in April, which showed a gain of 0.7%. However, the news was not as ...

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Gold Flat as Federal Reserve Minutes Loom

Gold is showing little movement in the Wednesday session. In North American trade, spot gold is trading at $1251.36 an ounce. On the economic front, Existing Home Sales dropped sharply to 5.57 million, short of the forecast of 5.65 million. Later in the day, the Federal Reserve will release the minutes of its May policy meeting. On Thursday, the US will publish unemployment claims.   All eyes are on the Fed minutes, with the markets hoping ...

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Dollar Rebounds Awaiting Fed Minutes

US oil inventories, Bank of Canada and FOMC minutes to drive markets The US dollar is higher against most major pairs after staging a recovery ahead of the release of the Federal Open Market Committee (FOMC) May meeting minutes on Wednesday, May 24 at 2:00 pm. The Fed hosted no press conference in May, leaving the market to wait for the minutes to gather insights ...

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Dollar Higher Ahead of Wednesday’s Fed Minutes

The dollar rose against a basket of major currencies on Tuesday as its worst week of losses in a year drove some profit taking and investors turned their attention to Wednesday’s release of the minutes of the U.S. Federal Reserve’s meeting early this month. The dollar index .DXY, which tracks the greenback against a basket of six ...

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Gold Dips as Minutes Could Confirm June Rate Hike

Gold has posted losses in the Tuesday session, erasing the gains from Monday. In the North American session, spot gold is trading at $1256.05 per ounce. On the release front, US numbers were a disappointment, as New Home Sales dropped to 569 thousand, well short of the forecast of 611 thousand. As well, the Richmond Manufacturing Index dropped to just 1 point, compared to a forecast of 15 points. On Wednesday, the Federal Reserve will release ...

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