MHMarkets：August 23, 2023 - Fundamental Reminder
Spot gold remained near a five-month low on Tuesday, briefly breaking through the 1,900 mark in Europe before giving up nearly all of its gains and recovering slightly in late trade to end up 0.18% at $1,897.41 a Troy ounce. Spot silver traded in a narrow range above the 23 mark before settling down 0.31 percent at $23.28 per ounce.
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The US dollar rose on Tuesday, approaching the two month high position that hit last week Gold prices hovered around a five month low as the strengthening US dollar and rising bond yields weakened its attractiveness
The US dollar rose on Tuesday, approaching the two month high position that hit last week Gold prices hovered around a five month low as the strengthening US dollar and rising bond yields weakened its attractiveness
WCG Markets:2023-08-23
WCG Markets:2023-08-23
MHMarkets：Dollar is weak and the silver rose, the United States crude oil rushed down!
Spot gold traded in a narrow range around $1,895.18 an ounce on Tuesday in Asia, with bargain hunting supporting prices but growing views that the Federal Reserve will keep interest rates high for longer as the US economy remains resilient. The 10-year yield has hit its highest level since the financial crisis in 2007, giving bulls pause.
MHMarkets：August 22, 2023 - Fundamental Reminder
Spot gold remained choppier on Monday, hitting as high as 1,898.83 before settling up 0.25% at $1,894.76 an ounce as investors awaited Powell's speech at the Jackson Hole annual conference on Friday. Spot silver came out of the independent market, standing above the 23 mark, and finally closed up 2.28 percent at $23.32 an ounce.
The US dollar fell on Monday, ending the previous five weeks of continuous gains Gold prices hover around a five month low, the US Treasury yields rising put pressure on gold
The US dollar fell on Monday, ending the previous five weeks of continuous gains Gold prices hover around a five month low, the US Treasury yields rising put pressure on gold
08/22 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
08/21 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Weekly News 2023/08/14-2023/08/18
Index / Stocks / Crypto / Metals / Commodity & Futures / Forex
MHMarkets：Dollar consolidated in a small range, precious metals and non-US currency is weak while the US crude oil continued to strengthen!
Spot gold bottomed out in Asia on Monday (August 21) after earlier hitting a fresh more than five-month low of $1,884.70 per ounce, pressured by concerns that the Federal Reserve will keep interest rates at higher levels for longer, with the dollar index holding near a more than two-month high and US Treasury yields recouped most of Friday's losses.
MHMarkets：August 21, 2023 - Fundamental Reminder
On Friday, spot gold traded in a near-$10 range before edging up 0.03% to $1,889.42 an ounce, its fourth straight week of declines as high U.S. Treasury yields weighed on the non-interest-bearing metal. Spot silver at last check rose 0.28 percent to $22.75 an ounce, but still suffered its biggest weekly drop in nearly two months.
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Weekly Market Outlook: Focus on BRICS Summit, Flash PMIs, and Jackson Hole Symposium
Weekly Market Outlook – Get ready for a relatively quiet week on the economic front, with the spotlight shining on the business surveys and the highly anticipated Fed’s annual economic symposium. Brace yourself, as Chairman Powell’s signals about interest rates could determine the fate of the almighty dollar! With US yields on the cusp of a breakout, this event will be one you don't want to miss!
The weekly gold price has fallen for the third consecutive week Jackson Hole Global Central Bank Annual Meeting Coming The market isi focusing on Powell's Speech
The US dollar remained flat on Friday, but rose for the fifth consecutive week, setting a record for the longest consecutive rise in 15 months.
NZD/USD Navigates Bearish Waters Ahead of Key Economic Data Release
As the market continues to evolve, the NZD/USD pair is currently on a downward slope, teetering around 0.5930 as it awaits the upcoming US Initial Jobless Claims report. This trend follows a series of losses which have brought the pair to hit a low of 0.5903, a point not seen since November 2022.
Monthly Currency Market View August 2023
Even amid economic difficulties, the growth in Retail Sales has been noted at 0.7%, a significant increase from the upwardly adjusted 0.1% acceleration seen in the preceding month. This performance surpasses the market forecast of 0.2%.
EUR/GBP Price Analysis: Extends its downtrend amid GBP strength, YTD low eyed
The EUR/GBP prolongs its losses to five consecutive trading days as sellers eye a challenge of the year-to-date (YTD) low of 0.8504, sponsored by overall Sterling (GBP) strength. Although UK’s inflation figures show signs of easing, is still high, warranting further tightening by the Bank of England (BoE). Therefore, the GBP remains strong, as witnessed by the EUR/GBP trading at 0.8530, down 0.17%.
Asian Open – Hawkish FOMC sees US stocks slide again, USD rally.
Asian indices are looking to open soft in Thursday’s session after major US Indices extended their sell-off in Wednesdays session on stronger than expected US data and a “hawkish” FOMC minutes where Fed officials saw ‘upside risks’ to inflation possibly leading to more rate hikes.
Afternoon Briefing 16 Aug 2023: Oil Steady on Weak China's Data
Asian stocks tumbled as bank stocks retreated on Wall Street.