Spot
Gold rose on Friday heading for its strongest week in a month after a U.S. Federal Reserve official said the central bank is in no hurry to start winding down its economic stimulus, increasing the metal`s appeal as a hedge against inflation.
Gold extended gains on Friday, drawing support from the weakening dollar and the fall in equity markets on weak manufacturing data, which reflects a stagnant global economic growth.
As of (10:08 GMT+3) gold for immediate delivery gained 0.15 percent or 2.04 points to trade at $ 1,390.31 after opening at $1,390.74, having earlier hit a high of $1,398.09, and a low of $1,387.02.
Data released on Thursday showed Chinese manufacturing sector slowed during May, adding to signs that the world’s second largest economy faces many challenges.
The Eurozone ...
Gold prices rose Thursday as after a drop in U.S. dollar and as a senior Federal Reserve official said the central bank is in no hurry to start winding down its economic stimulus.
Spot gold rose 0.8 percent to $1379.38 per ounce by 11:40 ET, after losing more than 1 percent yesterday after Fed Chairman Ben Bernanke hinted at a possible withdrawal to the banks bond-buying program in the “next few meetings.”
Spot gold opened at $1368.53 per ounce, and earlier hit a high of $1398.14, and a low of $1356.59 per ounce.
The president of the Federal Reserve Bank of St. Louis James Bullard said he did not think the Fed was "that close" to starting the process of winding down its support after Wednesday`s comments by chairman Ben Bernanke hinted at it.
The dollar index fell around 0.7 percent ...
Morning Briefing : Eyeing the US dollar ahead of key events today
What's new :
Asia: Equity indices mixed this morning
Japan: BoJ left rates unchanged in line with expectations
Forex: Aussie and Kiwi continue to tumble
Overnight rates and Indices:
EUR/USD 1.2903 1.2939 0.16 %
USD/CHF 0.9681 0.9715 0.07 %
GBP/USD 1.5138 1.5174 -0.04 %
USD/JPY 102.35 102.74 -0.11 %
EUR/CHF 1.2515 1.25426 -0.07 %
EUR/JPY 132.22 132.69 -0.28 %
Dow Jones 15325.68 15434.50 0.34 %
Nasdaq 3011.51 3036.71 0.18 %
S&P 500 1662.67 1674.93 0.17 %
Nikkei 225 15432.64 15706.63 1.60 %
Shanghai 2292.43 2314.18 -0.18 %
Gold spot 1372.47 1389.16 0.78 %
Crude Oil 95.51 95.97 -0.27 %
Comments:
All eyes on the ...
As it did within the opening Wall Street closed high in green with corporate news continuing to trickle in, hoarding Wall Street’s spotlight.
The Dow Jones industrial average , S&P 500 and NASDAQ all edged higher at the opening bell. With all three indexes up 17% to 18% so far this year, investors have been stepping back this week.
The S&P 500 climbed 0.17% to 1669.20 points. The Dow Jones Industrial Average gained 0.34% to 15387.60 points. The NASDAQ composite index was up 0.16% to 3502.12 points. As of 16:16 New York Time
Shares of Carnival sank 4.50% Tuesday after the cruise ship operator slashed its earnings forecast, and said it was cutting prices in an effort to attract customers back onto its ships.
Apple will also be in focus as CEO Tim Cook ...
Gold plummeted in New York mainly on speculation that the Federal Reserve may scale back U.S. debt purchases, curbing demand for the precious metals as a store of value to have the metal so far trade around $1380.05 an ounce recording a high of $1401.65 an ounce and a low of $1359.85 an ounce.
However today it was a calm day for the U.S as no data was released yet optimism was spread throughout its local stock market to watch it climb in opening as corporate news continued to trickle in, hoarding Wall Street’s spotlight.
Today will be clear of any economic reports; however investors will keep tabs on Wednesday, as Federal Reserve Chairman Ben Bernanke will offer up his economic outlook in testimony before Congress, and the Fed will also release minutes for the latest monetary policy ...
U.S. stocks opened higher on Tuesday with corporate news continuing to trickle in, hoarding Wall Street’s spotlight.
The Dow Jones industrial average , S&P 500 and NASDAQ all edged higher at the opening bell. With all three indexes up 17% to 18% so far this year, investors have been stepping back this week.
The S&P 500 climbed 0.24% tp 1670.32 points. The Dow Jones Industrial Average gained 0.36% to 15390.77 points. The NASDAQ composite index was up 0.15% to 3501.49 points. As of 09:50 New York Time
Shares of Carnival sank 4.50% Tuesday after the cruise ship operator slashed its earnings forecast, and said it was cutting prices in an effort to attract customers back onto its ships.
Apple will also be in focus as CEO Tim Cook and other executives appear on Capitol Hill to testify ...
Is The Dollar To Be Given A Bull Run Break Before Ben?
The market yesterday was a write-off in terms of price action, as a few sovereign nations managed to squeeze in a national holiday in parts of Europe and in Canada. This week's US fundamental highlight will be delivered tomorrow - the FOMC Minutes from the May 1st meeting and helicopter Ben's testimony on the Economic Outlook and Monetary Policy before the Joint Economic Committee, in Washington. On the whole, market price actions over the past few-days indicate that a few investors are becoming a tad nervous ahead of Ben's speech.
Some investors are anticipating that the release of Wednesday's FOMC minutes will indicate that both the Fed's 'hawks and doves' are beginning to become "increasingly uncomfortable with the current $85- ...
Calm trading is expected Tuesday, with U.S. stock futures pointing lower, with a few individual stocks in the spotlights, a day after Moody`s sent out another downgrade warning over U.S. debt limit.
Futures on the Dow Jones Industrial Average lost 0.098% to 15304 points. The S&P 500 futures were down 0.144% to 1662.20 points. The NASDAQ 100 futures dropped 0.124% to 3017.25 points. As of 05:57 ET in pre-market trading.
U.S. stocks fell slightly Monday, with all major indexes dipping down by 0.1%.
Shares in the cruise ship operator Carnival, fell by more than 13% in pre-market trading. Reports say the company is cutting prices in an effort to attract customers back onto its ships after a series of incidents. Carnival`s London-listed shares fell by as much as 15% before bobbing back up.
...
Title:
Dip buying on USD/JPY
Morning Briefing : Dip buying on USD/JPY
What's new :
Forex: Markets await Ben Bernanke’s speech on Wednesday.
Global Markets: US and Asian equities closed slightly in the red.
Overnight rates and Indices:
EUR/USD 1.2862 1.2904 0 %
USD/CHF 0.9655 0.9704 -0.02 %
GBP/USD 1.5222 1.5277 -0.08 %
USD/JPY 102.08 102.77 -0.32 %
EUR/CHF 1.2453 1.24922 -0.03 %
EUR/JPY 131.68 132.31 -0.31 %
Dow Jones 15314.15 15391.84 -0.12 %
Nasdaq 3011.95 3032.86 -0.26 %
S&P 500 1663.52 1672.84 -0.07 %
Nikkei 225 15264.42 15388.37 0.13 %
Shanghai 2290.12 2304.42 -0.10 %
Gold spot 1384.15 1401.59 -0.04 %
Crude Oil 96. ...