Gold above $1200 as Powell Comments Send Dollar Downwards
Gold is slightly higher at the start of the trading week. In Monday’s North American session, the spot price for one ounce of gold is $1209.20, up 0.29% on the day. There are no U.S indicators on the schedule. On...
Pound Improves in Thin Holiday Trade
GBP/USD has posted gains in the Monday session. The pair is trading at 1.2891, up 0.34% on the day. With British banks are closed for a summer holiday, traders can expect a quiet day from the pair. There are no...
Wall Street says Tesla’s ‘credibility has taken a hit’ after Musk’s go-private plan collapses
Wall Street analysts believe Tesla’s credibility will suffer from CEO Elon Musk giving up on his plan to take the carmaker private. Late Friday, Musk said in a blog post the company will remain publicly traded, citing resistance from existing...
Sterling Upside Attempt, Yen Maintains Gain in Mixed Markets
The forex markets has been rather quiet for most of the day. But activity seems to pick up in early US session. Yen remains generally firm despite strong global risk appetite. But it’s losing ground to Sterling as the the...
US and Mexico reach a trade deal, paving the way to replace NAFTA
The U.S. and Mexico struck a trade deal on Monday that paved the way to replace NAFTA, the current agreement between the two nations and Canada. President Donald Trump said the deal would be called The United States-Mexico Trade Agreement,...
Mexican official says NAFTA talks with the US have ‘concluded,’ deal announcement coming
A Mexican official told CNBC on Monday that trade talks with the U.S. have wrapped up, adding that an announcement could come later in the day. Officials were in Washington trying to work out the issues as the Trump administration...
Lack of Data Leaves Canadian Dollar Lower
The Canadian dollar has recorded slight gains in the Monday session, paring some of the losses seen on Friday. Currently, USD/CAD is trading at 1.3047, up 0.17% on the day. There are on Canadian or U.S events on the schedule....
DAX – NAFTA Progress Pushes Auto Stocks Higher
The DAX has started the week with considerable gains. In the Monday session, the index is at 12,456, up 0.50% on the day. In economic news, German Ifo Business Climate improved to 103.8, above the estimate of 101.9 points. The...
Powell Signals He Would be More Cautious in Face of Uncertainty
Weaker USD, lower Treasury yields, higher equities… Market reactions showed that Fed’s chair Jerome Powell’s speech at Jackson Hole symposium was interpreted as “dovish”. Discussing about “Monetary Policy in a Changing Economy”, Powell revealed the challenges of navigating the stars...
Yen Rises Despite Strong Risk Appetite, Dollar Regains Some Ground
Risk appetite was rather strong in Asian session today. Nikkei closed up 0.88% at 22799.64. At the time of writing, Hong Kong HSI is up 2.05%, China Shanghai SSE is up 1.70% and Singapore Strait Times is up 0.63%. The...
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