Gold prices mixed as yield rally cools, US data barrage in focus
Gold prices traded in a mixed range on Tuesday, retaining most recent gains as traders watched for any more developments in the Israel-Hamas war, while focus also turned to a string of key U.S. economic readings due this week.
DAX 40 & DOW JONES: weekly analysis 23rd – 27th October
This week major US stock indexes experienced a significant decline, following Federal Reserve Chairman Jerome Powell’s speech regarding sticky inflation and the likelihood of an unchanged interest rate at the November meeting.
USD/NOK reversed its course from multi-month highs clearing daily gains
In Thursday’s session, the USD/NOK initially rose to multi-months highs at 11.083 and then closed below 11.000 with 0.45% daily losses. On the one hand, the USD weakened against its rivals as investors sensed a dovish stance of Jerome Powell during his speech at the Economic Club of New York.
Pound skating on thin ice. Forecast as of 19.10.2023
The caution of the Bank of England, stagflation in the UK, and the crisis in the Middle East are pressing the pound down. Following a short correction up, the GBPUSD resumed falling and will hardly turn up in the near future. Let us discuss the Forex outlook and make up a trading plan.
10/24 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Canadian Dollar Update – Canadian dollar dives
The Canadian dollar was sideswiped by surging US Treasury yields yesterday, and it continued to feel the effects overnight. USDCAD soared from 1.3618 to close at 1.3717 yesterday, then extended the gains to 1.3741 just before NY opened today.
MHMarkets：The US dollar index accelerated its decline during the Asian market, and the Bank of Japan intervened in the market.
On Tuesday (October 24), the US dollar index accelerated its decline to 105.45 during the Asian market, which was hindered, and the current price is around 105.49.
MHMarkets：October 24, 2023--Fundamental Reminder
The dollar index plunged during U.S. trading on Monday, falling below the 106 mark and hitting an intraday low of 105.51 before closing down 0.52% at 105.60. U.S. bond yields rose and then fell, with the 10-year yield hitting an intraday high of 5.021% but failing to hold above 5% and accelerating losses in premarket trading to end at 4.848%. The yield on the two-year Treasury note closed at 5.047%.
Diplomatic efforts to ease tensions in the Middle East led to a 3% drop in oil prices to a one week low The weak US dollar supports gold prices, focusing on the situation in the Middle East and PMI data from Europe and America
Diplomatic efforts to ease tensions in the Middle East led to a 3% drop in oil prices to a one week low The weak US dollar supports gold prices, focusing on the situation in the Middle East and PMI data from Europe and America
Shell and BP shares: could the FTSE 100 oil majors see Brent rise to $100?
With the Israel-Hamas war continuing to escalate, Brent is steadily rising. Where next for the FTSE 100 oil majors?
Oil Prices Continued To Ease During Early Monday Trading
Oil prices continued to ease during early Monday trading, with the barrel of Brent costing a dollar less than it did at Friday’s market close. The easing in prices comes as fears of a conflict escalation in the Middle East recede.
Markets are balancing 5% rates and 150 yen
The financial markets exhibit fluctuations in the form of 5% yields and 150 yen.
Global markets shaken by Middle East tensions: will gold set a new high for 2023?
With the escalating situation in the Middle East grabbing international attention, financial markets are witnessing a widespread sense of unease. This apprehension is clearly mirrored in the prices of gold and oil, as well as the Volatility Index (VIX).
DOLLAR opening over $940
The day begins with no significant movement in the peso dollar, but it undergoes a brief fluctuation, trading at a stable rate of 944.45. Meanwhile, the value of copper shows a slight decline of 0.25% on the London Metal Exchange, with its price settling at 3.55 per pound.
Bitcoin price tests $31,000 as US regulator mysteriously delays spot BTC ETF approval
The price of Bitcoin (BTC) has shown a positive outlook following a significant surge that commenced in mid-October.
US Stocks Close Mixed, Dollar Eases, Bitcoin Soars
Bullish Bias for EUR/USD and GBP/USD, Cautious Approach for USD/JPY and Dow Jones (CME)
10/23 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
MHMarkets：The dollar index rose during Asian markets, with an upward break above yesterday's highs blocked. USDJPY traded cautiously on concerns about the Bank of Japan intervening in the market.
At the end of the Asian market on Monday (October 23), the US dollar index rose at the opening of the Asian market the following week and was hindered near 106.37 above, with the current price at 106.33.
MHMarkets：October 23, 2023--Fundamental Reminder
On Friday, the dollar index remained rangebound above the 106 mark before closing down 0.07% at 106.16. Treasury yields rose and then fell, with the yield on the 10-year Treasury flirting with the 5% mark and rising as high as 4.99% before easing to close at 4.914%.
Safe haven gold approached the vital $2,000 mark last Friday The Palestinian-Israeli War has exacerbated uncertainty in the Middle East
Safe haven gold approached the vital $2,000 mark last Friday The Palestinian-Israeli War has exacerbated uncertainty in the Middle East
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