Commodities

Gold Stuck Between A Rock And A Hard Place Ahead Of US CPI

Gold has been undermined by rising government bond yields owing to major central banks generally turning more hawkish while the still-buoyant equity markets means there has been reduced demand for the perceived safe haven asset.

AUDUSD Forecast July 7, 2017, Technical Analysis

The Australian dollar went sideways and a very choppy session on Thursday, finding resistance just above the 0.76 handle.

Crude Up For Fifth Day Ahead Of US Oil Inventories

Believe it or not, crude oil is actually up for the fifth consecutive day now. Despite on-going bearish news flow and downbeat sentiment, oil prices appear stable ahead of the official US weekly crude inventories data from the Energy Information Administration (EIA) later this afternoon.

Crude Remains Undermined By Rising US Oil Supply

Crude oil was unable to hold onto its gains on Monday after appearing for a while to have ended its bearish run. Oil prices have fallen for three consecutive weeks after the OPEC and Russia failed to surprise the markets with their decision to extend the oil production deal.

Gold Makes Significant Bullish Breakthrough On Soft Dollar

Thanks to soft US economic data of late, expectations about an aggressive rate hiking cycle by the Fed has diminished.

AUDUSD Forecast May 23, 2017, Technical Analysis

The Australian dollar had an explosive session on Monday, initially gapping lower, filling the gap, and then continue the down move.

AUDUSD Forecast May 22, 2017, Technical Analysis

The AUDUSD pair had a very strong session on Friday, reaching towards the highs that we had touched on Thursday. That’s a very bullish sign, and I think that the market is now trying to reach towards the 0.75 level above.

Crude Oil Gushes Higher On Russia, Saudi Agreement

The price of oil has surged higher at the start of the new trading week. This has helped to lift energy stocks and also underpin commodity currencies such as the Canadian dollar (FXC, quote).

Gold Up As Dollar Stalls Ahead Of US CPI, Retail Sales

The dollar buying witnessed at the start of the week was driven by rising expectations about a June rate hike following last week’s FOMC statement and a solid US monthly jobs report.

Commodities

Commodities price are firmer today with base and especially precious metals ending a bad run off losses, while crude oil has extended its gains from the day before when it rallied sharply on the back of the weekly US oil inventories report.