Gold and Bitcoin scale new heights

Chris Beauchamp IG

It has been a day of moving parts as gold and bitcoin surge while the CAC40 slumps, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

CAC40’s turmoil remains contained

Another political drama in France has failed to resonate beyond the CAC40 and some euro weakness, while the Dax continues to consolidate after recent strength. Notably weakness in the German index was swiftly bought, while the FTSE 100 managed to eke out a record high despite the lack of news.

New highs for gold and bitcoin

Monday’s session closely fits the pattern seen in recent months, as stocks move higher in conjunction with gold and bitcoin. The latter two are roaring higher once more, as liquidity continues to drive these two momentum trades higher. Traders have also been enthused by the new Japanese leader, who promises to reignite stimulus to light a fire under the Japanese economy.

Author

Chris Beauchamp

Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.

GBP/USD consolidates gains, holds above 1.3600

GBP/USD stays in a consolidation phase above 1.3600 on Monday following the previous week's impressive rally. The US Dollar recovers ground due to uncertainty over the potential impact of US economic sanctions' against Iran on energy prices, leaving the risk-sensitive pair on the backfoot.

EUR/USD stays below 1.1700 as markets turn cautious

EUR/USD stays on the back foot and trades below 1.1700 after posting strong gains in the previous week. The pair struggles as the US Dollar attempts a tepid recovery following last week's sell-off that was triggered by the US Treasury's change to bond buyback plan. Meanwhile, investors cling to a cautious stance, awaiting this week's key events and details surrounding the US' economic sanctions package against Iran.

Gold extends rally to fresh three-month high above $4,650

Gold (XAU/USD) extends its advance on Monday, building on the strong rally seen last week following the US Treasury’s buyback announcement and trading at its highest level since May near $4,650.

Here's what I learned trading meme coins

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The week ahead: Jackson Hole and Nvidia results to take focus away from Trump

We start the week with the focus squarely on the US. Rising Treasury yields, the Jackson Hole Symposium, inflation and GDP data, along with tariff risks, will dominate market action in the coming days.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.