Gold took advantage of a weaker dollar to move higher today but with contained gains as investors remain cautious until they hear what Chairman Powell has to say about the Fed’s moves tomorrow in Jackson Hole. In particular, the December gold contract ended trading today at $1,771.4 an ounce having gained $9.90 or 0.6%. Even […]
Tag: Forex
ING, Capital Economics, Citi: The further plunge of the euro is one way – the energy crisis is a ‘trap’ for the currency
By Eleftherias Kourtalis Further devaluation of the euro is a sure “bet” according to analysts, as the jump in the price of natural gas and the worsening energy crisis in Europe, combined with the onset of recession, “trap” the common currency on a one-way path of weakness . In fact, according to ING estimates, the […]
Oil closed at a high of more than three weeks
Oil closed at its highest price in more than three weeks after a volatile session on Wednesday, as traders weighed reports of developments linked to the European Union’s draft Iran nuclear deal. The news suggests some progress in the negotiations, which may ultimately lead to an increase in oil on the global market. But that […]
Losses of 0.8% sent gold to a one-month low
The price of gold fell to an almost one-month low, amid a general sell-off in the metals against the backdrop of the dollar’s renewed surge and heightened concerns about another giant interest rate hike by the Fed. Specifically, the December gold contract ended the day trading having lost $14.50, or 0.8%, at $1,748.4 an ounce. […]
Ebury: All eyes on the global meeting of central bankers at the end of the week
By Enrique Diaz – Alvarez, Chief Risk Officer of the international payments company Ebury Estimates of US interest rates rebounded after falling following a positive inflation report last week. Federal Reserve officials have talked up the prospect of another big rate hike in September, and markets are now evenly split between a 50-basis-point hike and […]
Bitcoin Sudden Sell-off – At 3+ Week Low, Below $22,000
Bitcoin fell to its lowest levels in more than three weeks, below $22,000, amid a sudden sell-off in cryptocurrencies that began in the European market. Bitcoin was “sinking” from $22,738 to below $21,352 after 9pm on Friday (Greece time), according to data from CoinDesk. Earlier in the morning, the most well-known cryptocurrency was trading between […]
Oil: With gains for the third day in a row, it collected weekly losses to 1.5%
Oil prices erased intra-session losses of as much as -2%, closing in positive territory for a third consecutive day and capping their losses for the week. In particular, the slow type West Texas Intermediate added on Friday 27 cents or 0.3%, to set its price at $90.77 per barrel. This was the highest close for […]
Gold at a 3-week low, with a ‘dive’ of almost 3% on the 5th
Gold fell for a fifth straight session in its biggest losing streak since early July, with the precious metal falling to a three-week low. In particular, Mr gold December delivery he lost on Friday $8.30 or 0.5%to set its price at $1,762.90 an ounce. In the weekthe losses of gold they caught it 2.9%according to […]
New record for European natural gas – At 244.55 euros per megawatt hour
European natural gas closed at a new record for a second day, putting further pressure on industries and households and raising fears of a recession, according to Bloomberg. Prices got a boost after Russia’s GAZPROM announced it would suspends natural gas supplies through Nord Stream 1 due to maintenance work from August 31 to September […]
The ‘bets’ against the euro have soared back to 2020 levels
Driven by concern over the worsening economic situation in Europe and heightened geopolitical risk, investor bets against the euro are now trading at levels similar to October 2020, when the damage from the Covid pandemic had reached global proportions, according to the Bank of New York Mellon, reports the Bloomberg agency. Unlike at the time, […]
