Author: FX
Gold (XAU/USD) edges higher on Friday after a bout of volatility sparked by the CME trading outage briefly dragged prices lower. At the time of writing, XAU/USD is trading around $4,209, with the metal on track to notch its fourth straight monthly gain.Overall sentiment remains tilted to the upside as traders price in a greater likelihood of a Federal Reserve (Fed) rate cut in December, following dovish-leaning remarks from key policymakers earlier in the week. At the same time, the Russia-Ukraine peace talks remain fragile, keeping geopolitical risks elevated and offering a supportive backdrop for Gold.Market movers: CME halt, Fed…
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European indices are closing with modest gains for the day but solid gains for the week. Today’s gains were led by Italy’s FTSE MIB with a gain of 0.32%.A snapshot of the closing levels shows:German DAX, +0.25%France’s CAC +0.29%UK’s FTSE 100 +0.27%Spain’s Ibex +0.06%Italy’s FTSE MIB +0.32%For the trading week,German DAX, +3.19%France’s CAC + 1.75%UK’s FTSE 100 +1.90%Spain’s Ibex +3.47%Italy’s FTSE MIB +1.63%As London/European traders head for the exits, with US stock traders not far behind at 1 PM ET, the major indices are higher led by the Dow industrial average:Dow industrial average +0.68%S&P index +0.43%NASDAQ index +0.38% Source link
hapabapaUpdated 11:29ET with statement from Amazon. Amazon (AMZN) employees at nine German warehouses were on strike on Black Friday, seeking a collective bargaining agreement and better wages from the e-commerce giant, Reuters reported Friday. Services union Verdi says approximately 3,000 Source link
After a quarter severely impacted by trade tensions, the Canadian economy returned to growth in Q3 with an annualized increase of 2.6%, surprising economists by a wide margin. Trade data was the main driver of this volatility, significantly boosting growth in the third quarter after holding it back in the second, National Bank of Canada economists note. Trade-driven GDP surge seen as unsustainable”This time around, the sharp drop in imports alone accounts for all the growth in the quarter, while exports essentially stagnated after last quarter’s strong decline. We note that Statistics Canada pointed out that, given the U.S. government…
The British Pound (GBP) treads water against the Japanese Yen (JPY) on Friday as the latest Tokyo inflation data keeps the Bank of Japan (BoJ) firmly on a tightening path. At the time of writing, GBP/JPY is trading around 206.70, though the cross remains on track to log its third straight weekly gain as the Yen stays under sustained pressure amid fiscal concerns following the approval of a large stimulus package.The Statistics Bureau of Japan reported that Tokyo’s headline Consumer Price Index (CPI) rose 2.7% YoY in November, matching market expectations and easing from 2.8% in October. The measure that…
GBP/USD edges lower to 1.3220 as market leans bearish post-budgetGBP/USD dips during the North American session on Friday, despite heading into the end of the week with gains of almost 1%, after the financial markets digest the Autumn Budget. The pair trades at 1.3221 after retreating from a daily high of 1.3244. Read More…GBP/USD gains near 1.3250 amid rising Fed rate cut betsGBP/USD continues its winning streak for the seventh successive session, trading around 1.3240 during the Asian hours on Friday. The pair strengthens as the US Dollar (USD) weakens amid growing expectations of a Federal Reserve (Fed) rate cut in December.…
The AUDUSD is breaking to a new high on the day with the price moving away from the 100 day MA at 0.65316 an above the ceiling for the week from yesterday’s high and the earlier high for the day near 0.6540. That has given the buyers the go-ahead to push higher iwth 0.6551 and then another swing area at 0.6561 to 0.6564 as the next target above that level. The close traders risk is now the 0.6540 area and then the 100 day MA. Moving back below those levels would disappoint the buyers on the break(s) higher today. Meanwhile,…
Ukraine's top peace negotiator quits after raid by anti-graft police Source link
GBP/USD dips during the North American session on Friday, despite heading into the end of the week with gains of almost 1%, after the financial markets digest the Autumn Budget. The pair trades at 1.3221 after retreating from a daily high of 1.3244.Sterling pares weekly gains as dovish Fed bets rise but BoE cut expectations weigh on CableThe US economic docket was shortened by the Thanksgiving holiday. Nevertheless, softer inflation prints, with the Core Producer Price Index (PPI) for September diving from 2.9% to 2.6% and a dip in Initial Jobless Claims from 222K in the week ending November 15…