Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
Gold recovered to close marginally higher in a quiet trading session, as weak US retail sales cut into the dollar’s gains ahead of Federal Reserve Chairman’s Congressional testimony which could provide the latest clue on monetary policies. Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,266.11 tons, […]
A Quick Look at Global Commodities Read More »
Currently, oil futures prices are trading above $85.90/bbl with a marginal gain from yesterday’s closing. A large decline in crude oil stocks in the last week has made this spike in oil prices on yesterday. However, on the other side economic concerns due to lower demand and drops in growth forecast from major oil consuming
Crude Oil and Natural Gas on a Sleepy Market Day Read More »
Currently oil futures prices are trading below $85/bbl with loss of more than 1.4 percent from yesterday’s closing. Oil prices have slipped from its high as import of its second largest consuming nation China have fallen by more than 15 percent in the month of June. Crude oil imports have declined from 25.48 million barrels
French financial activity contracted slightly in 2Q and is unlikely to actually get better in the near term, the Bank of Spain estimated Monday, mentioning the results of its monthly company analysis. The central financial institution confirmed its preceding prominence for a 0.one% National income dip in 2Q. Last 30 days, The National Statistics Institute
Market Commentary – French Business Activity Shrinks or Stinks Read More »
Yesterday should have been called International Central Bank Day, with the Peoples Bank of China, the European Central Bank and the Bank of England all making headlines. The EUR/GBP traded quite volatile in the run-up the policy decisions of the BOE and the ECB. The pair hovered in a 0.8020/0.8040 rang going into announcement of
The EUR/GBP overdoes it on International Bank Day Read More »
Yesterday, on US Independence Day with US markets closed the, EUR/GBP trading developed in thin market conditions. The price action was mostly driven by technical considerations. The final services PMI in the EMU was less negative than expected. The UK services PMI dropped to a lower than expected 51.8, but stayed above the 50 boom
Sterling and Central Bank Decisions Read More »
With US markets closed today for the Independence Day holiday, trading is expected to be light during the European session and then quiet the rest of the day. There is little in the way of eco data from around the globe. Commodity markets closed higher for the second time in 3-days, with oil prices leading
Gold – Silver – Crude Oil and Gas on the Holiday Read More »
Chinese HSBC manufacturing contracted to the lowest level in the last seven months. Base metals surrendering part of its 4-percent gain, after data at the weekend showed a factory slump in Asia’s two biggest exporters, China and Japan, had deepened in June. The decline in purchasing managers index fanned concerns over demand for base metals
Commodities and Currencies Kick Off July Read More »
Gold fell to the lowest level in almost 4-weeks amid signs of slowing US growth while dollar gained on speculation that European Union leaders will struggle to solve the debt crisis. Gold has lost its safe haven title as investors begin to move into the risk markets. Although risk aversion remains the theme with no
Energy and Metals Review Read More »
During early Asian session, oil futures prices are trading above $79.50/bbl with a marginal gain of 0.10 percent in electronic platform. As per American petroleum Institute, ( please note that the API inventory indicators have been wrong more than right in the past months ) crude oil stocks have declined in Cushing Oklahoma delivery centre
Crude Oil tumbles while Natural Gas soars Read More »
