Currencies
However, since other dollar pairs such as AUD/USD and GBP/USD declined, we can probably attribute the move lower to a stronger dollar rather than a weaker euro. Here are three reasons why the euro may move higher: The much-needed downside equity correction may now make way for a fresh increase, as seen in S&P 500 futures. The greenback has been gaining ground in a risk-off mood – investors have flocked to the safe-haven dollar while stocks declined. less Gold prices maintained an upward trend on Wednesday as both the U.S. dollar ad Treasury yields continue their downslide.
Apart from the potential rise in equities, the drop of US ten-year yields below 1.60% is also pointing to a fresh descent for the dollar. The safe dollar received some respite after the global stock indices pulled back from record highs. The greenback is mostly firmer, though the Canadian dollar is resilient ahead of the Bank of Canada meeting outcome. However, should the dollar extend gains across the board today, the EURUSD pair will not be able to sidestep a slide to the 1.1995 trendline.
After reaching 1.2080 in the London session, the EUR/USD turned south, triggering a similar move on other dollar pairs. The dollar index and gold prices edged higher on safe-haven appeal.
Apart from the potential rise in equities, the drop of US ten-year yields below 1.60% is also pointing to a fresh descent for the dollar. The safe dollar received some respite after the global stock indices pulled back from record highs. The greenback is mostly firmer, though the Canadian dollar is resilient ahead of the Bank of Canada meeting outcome. However, should the dollar extend gains across the board today, the EURUSD pair will not be able to sidestep a slide to the 1.1995 trendline.
After reaching 1.2080 in the London session, the EUR/USD turned south, triggering a similar move on other dollar pairs. The dollar index and gold prices edged higher on safe-haven appeal.
Metals
In 2002 when gold was $300 per ounce, MAM recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. Now, China’s demand for iron ore to feed its steel mills and underpin its economic recovery has driven the industry’s benchmark price to its highest level since February 2011.
China is estimated to have produced 83 million tons of crude steel in February, up 11% year over year, according to latest data from the World Steel Association. The GoldSwitzerland Division was created to facilitate the buying and storage of physical gold and silver for private investors, companies, trusts and pension funds. But at least when people buy retail silver from a reputable dealer and take delivery, they know that they have real silver. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools.
1 miner by market value reported a 4% increase in iron-ore output for the first nine months of its fiscal year through June, to 188.3 million tons. I have warned investors many times not to buy gold or silver ETFs or funds of any kind. In a fake market, the manipulators have no problem to suppress the price by selling virtually unlimited fake paper silver.
China is estimated to have produced 83 million tons of crude steel in February, up 11% year over year, according to latest data from the World Steel Association. The GoldSwitzerland Division was created to facilitate the buying and storage of physical gold and silver for private investors, companies, trusts and pension funds. But at least when people buy retail silver from a reputable dealer and take delivery, they know that they have real silver. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools.
1 miner by market value reported a 4% increase in iron-ore output for the first nine months of its fiscal year through June, to 188.3 million tons. I have warned investors many times not to buy gold or silver ETFs or funds of any kind. In a fake market, the manipulators have no problem to suppress the price by selling virtually unlimited fake paper silver.
Oil
Generally, oil stocks are correlated with the price of oil which makes perfect sense because oil producers sell the commodity. Plus, oil services companies raise prices when oil goes up and are forced to take concessions when they fall. In the past 15 years, oil stocks have NEVER been this bearish relative to oil prices. While oil prices have been solidly in the low $60s, oil stocks have been cratering. Oil prices are falling amid renewed increases in COVID-19 incidence in several Asian countries, which calls into question the prospects for a recovery in global demand.
For the latest week, an industry body in the US forecasted gasoline stocks have fallen by 1.6 million bbl against the poll estimate of a build of 500,000 bbl. If oil prices stay above $60 or move higher, their stocks could recover. Also, oil and stock prices fell on Tuesday amid the rising coronavirus cases. The discovery contains between 19 million and 26 million barrels of oil equivalent (boe) of recoverable resources, which could be immediately put into production, it added.
less Just as oil looked poised to break out and run COVID 19 realities sunk in as demand fears started to raise their ugly head.
For the latest week, an industry body in the US forecasted gasoline stocks have fallen by 1.6 million bbl against the poll estimate of a build of 500,000 bbl. If oil prices stay above $60 or move higher, their stocks could recover. Also, oil and stock prices fell on Tuesday amid the rising coronavirus cases. The discovery contains between 19 million and 26 million barrels of oil equivalent (boe) of recoverable resources, which could be immediately put into production, it added.
less Just as oil looked poised to break out and run COVID 19 realities sunk in as demand fears started to raise their ugly head.
United States
BEFORE THE BELL U.S. stock index futures were little changed after Wall Street closed lower in the previous session as the surging global coronavirus infections hit travel-related stocks. U.S. stock index futures were little changed after Wall Street closed lower in the previous session as the surging global coronavirus infections hit travel-related stocks. Results from the latest quarter missed Wall Street’s average estimate by 2 cents per share. Investing.com Follow US futures on the Dow, S&P, NASDAQ were trading lower ahead of the US open on Wednesday, while futures on the Russell 2000 were in the green.
US futures on the Dow, S&P, NASDAQ were trading lower ahead of the US open on Wednesday, while futures on the Russell 2000 were in the green. Stock indices of the Asia-Pacific region declined in the morning following the fall of the US stock market for the second day in a row. less It’s been a year of revival so far for the previously trailing small-cap value space in the US stock market.
Lithia Motors Inc: The auto retailer topped Wall Street estimates for first-quarter profit as the auto retailer benefited from strong demand and higher vehicle prices. Next week, the top six US companies – all tech – report, and the Nasdaq acts wobbly ahead of this. The Fed lowered the interest rate to near zero in March last year to support hiring and consumer spending.
US futures on the Dow, S&P, NASDAQ were trading lower ahead of the US open on Wednesday, while futures on the Russell 2000 were in the green. Stock indices of the Asia-Pacific region declined in the morning following the fall of the US stock market for the second day in a row. less It’s been a year of revival so far for the previously trailing small-cap value space in the US stock market.
Lithia Motors Inc: The auto retailer topped Wall Street estimates for first-quarter profit as the auto retailer benefited from strong demand and higher vehicle prices. Next week, the top six US companies – all tech – report, and the Nasdaq acts wobbly ahead of this. The Fed lowered the interest rate to near zero in March last year to support hiring and consumer spending.
China
This is in line with Chinese President Xi Jinping’s goal of having a quarter of the country’s energy consumption from non-fossil fuel sources in 2030. Unless Beijing fixes the problem, green-power stocks—and China’s towering clean-energy ambitions for the next five years—may remain grounded.
Europe
David Merkel is an investment professional, and like every investment professional, he makes mistakes. David J. Merkel, CFA — 2010-present, I run my own equity asset management shop, called Aleph Investments. Fox News reported that a European Union regulator has recommended that the Johnson & Johnson COVID-19 vaccine should include a warning about unusual blood clots with low platelets. Germany’s top court clears road for EU recovery fund ratification. EU reaches deal on binding goals that change everything.
His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. Furthermore, the German index is the “blue-chip index” for the European Union.
0 His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. Furthermore, the German index is the “blue-chip index” for the European Union.
