Wall Street stocks climbed yesterday after the Trump Administration announced a 90-day extension that allows it to do some business with US customers. The US dollar hit a 2019 high as longer-dated US yields rose, which clobbered gold.
US30USD Daily Chart
Source: OANDA fxTrade
-
The US30 index rose for a third day yesterday, hitting the highest in almost a week amid better risk appetite
-
The index is rising toward the 55-day moving average at 26,544, which has capped prices for the past 11 trading sessions
-
US data releases are mostly second-tier today with the weekly Redbook index the only item of note. Fed’s Quarles is scheduled to speak.
DE30EUR Daily Chart
Source: OANDA fxTrade
-
The Germany30 index rose for a second day yesterday, buoyed by increasing expectations of central bank easing and fiscal stimulus packages in the near future
-
The index closed above the 200-day moving average at 11,662 for the first time in a week
-
Germany’s producer prices are expected to rise 0.1% m/m in July, the latest survey of economists suggests. That’s a sharp rebound from June’s -0.4% m/m and would be the first positive reading in three months.
XAU/USD Daily Chart
Source: OANDA fxTrade
-
Gold retreated for a second straight day yesterday as the US dollar reached a 2019 zenith amid firmer longer-dated US yields. The 30-year US yield closed at 2.07% yesterday. It was at 1.97% in August 15
-
The precious metal is coming off 6-1/2 year highs and is dropping toward the 55-day moving average at 1,419, which has supported prices since June 3
-
Speculative investors turned net sellers of gold for the first time in five weeks, according to the latest data snapshot as at August 13 from CFTC. Net long positions pulled back from the highest since September 2016.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities.
Opinions are the authors — not necessarily OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.