June 8, 2020 9:32 am
Gold prices tumbled to lows not seen since April 21st on Friday and marked the sharpest weekly decline since the business week ended on March 13th, as the official government report on US Non-farm Payrolls added to investor optimism over a swift recovery, dampening safe haven demand. Data showed all segments of the US economy, […]
Read moreJune 8, 2020 6:58 am
EUR/GBP extended Friday’s losses during Monday’s Asian session and kept trading near intraday lows in early European session, after a report by Germany’s Federal Statistical Office showed industrial production had shrunk at a record monthly rate in April. German industrial production plummeted 17.9% in April from a month ago due to a heavy impact by […]
Read moreJune 5, 2020 11:39 am
GBP/USD was set to record its third straight week of gains, as the major pair touched highs not seen since mid-March on Friday, on the back of broadly weaker US Dollar and after a Bank of England official played down prospects of interest rates going below zero. During a Bloomberg webinar, Bank of England’s Executive […]
Read moreJune 5, 2020 9:33 am
Gold was set to register its third straight week of losses on mounting economic recovery optimism, as markets now awaited the more comprehensive US non-farm payrolls report. Data by ADP showed on Wednesday that US private sector had fired only 2.76 million workers in May, following April’s record drop in employment. Another positive signal came […]
Read moreJune 5, 2020 6:49 am
EUR/GBP came off recent highs, while snapping a two-day streak of gains on Friday, after Germany’s Federal Statistical Office reported a much steeper drop in factory orders in April than anticipated. New manufacturing orders shrank 25.8% in April, or at the sharpest monthly rate since the comparable series were initiated in January 1991, reflecting the […]
Read moreJune 4, 2020 11:50 am
GBP/USD slid from one-month highs, while snapping a five-day streak of gains on Thursday, as the US Dollar regained strength and concerns that Britain may leave the European Union with no trade deal at the end of December still lingered. British and EU negotiators began the final round of trade talks prior to June 30th, […]
Read moreJune 4, 2020 9:25 am
After sliding to lows unseen since May 7th on Wednesday due to economic recovery optimism-driven rally in global equities, Gold recouped a portion of losses on Thursday, climbing back above the $1,700 mark in a corrective move. Lockdown restriction easing coupled with a bit more optimistic macro data heightened risk sentiment and pressured the safe […]
Read moreJune 4, 2020 6:53 am
EUR/GBP rose for a second straight day and traded in proximity to intraday highs in early European session on Thursday, as market players largely expected the European Central Bank to expand its Pandemic Emergency Purchase Programme at its policy meeting today to prop up coronavirus-ravaged economy. “I suspect the market has already priced in an […]
Read moreJune 3, 2020 11:56 am
GBP/USD appreciated for a fifth straight day on Wednesday and moved within a tight range close to fresh one-month highs in late European trade, as the US Dollar remained broadly weaker and the Pound was still supported by indications that Britain may be open to a compromise on sticking points in the latest round of […]
Read moreJune 3, 2020 9:40 am
Having snapped a three-day streak of gains on Tuesday, Gold extended losses in Asian and early European trade on Wednesday as investor optimism over economic recovery and prospects of more stimulus measures gave global equities a boost and dampened demand for the precious metal. “There are a lot of investors who bought gold as a […]
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