London Gold Market Report from Ben Traynor BullionVault Wednesday 8 February 2012, 08:30 EST WHOLESALE MARKET prices for gold bullion held steady just below $1750 per ounce Wednesday morning in London – a 2.2% gain on yesterday’s low – after rallying Tuesday following comments from US Federal Reserve chairman Ben Bernanke. Silver bullion eased slightly this morning [...]
Archive for Euro – Page 2
Source: ForexYard The euro-zone debt crisis continued to fuel risk aversion in the market place yesterday, as poor news briefly brought the EUR/USD pair below the 1.3100 level. The pair staged a recovery later in the European session, after it was revealed that Greek leaders had begun finalizing a debt swap deal. Today, traders will [...]
Categories Forex Market News & Analysis
Gold and EUR/AUD Down – Euro Trading Mid-Range On Greece Uncertainty Analysis from: Forex FX 4X Gold Analysis: (XAUUSD) is currently making new lows for the week and price is located at the ascending trend line shown on the chart below. US data has been stronger recently and QE is no longer a given. This [...]
Categories Forex Market News & Analysis
Gold Touches Two-Week Low as Athenians “Burn German Flag” with Greece “Standing on Edge of Default”
February
7th,
2012
London Gold Market Report from Ben Traynor BullionVault Tuesday 7 February 2012, 07:45 EST U.S. DOLLAR gold prices touched a 2-week low of $1711 an ounce Tuesday lunchtime in London, with stocks, industrial commodities and the Euro also falling amid uncertainty over whether Greece is approaching default. Silver prices dropped to $33.20 per ounce – down 1.6% on [...]
Categories Forex Market News & Analysis
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Categories Forex Market News & Analysis
Source: ForexYard The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt. Losses were seen against most of its main currency rivals, including the US dollar, Japanese yen and British pound. Today, in addition to any euro-zone developments that may occur, traders [...]
Categories Forex Market News & Analysis
The International Monetary Fund (IMF) said today that a recession in the Eurozone would likely reduce China’s actual growth by about 50 percent of the current projection. That would place China’s growth for 2012 at roughly 4 percent should the Eurozone crisis devolve into a recession. It is estimated that China needs to maintain yearly [...]
Categories Forex Market News & Analysis
London Gold Market Report from Ben Traynor BullionVault Monday 6 February 2012, 09:00 EST SPOT MARKET gold prices fell further Monday morning in London, reaching $1713 an ounce by lunchtime – a 2.8% drop from last week’s high – as stock and commodity markets also ticked lower, while US Treasury bond prices gained. Silver prices dropped to $33.09 [...]
Categories Forex Market News & Analysis
Currency Futures: Forex Speculators cut US Dollar bets. Aussie, Kiwi & Peso positions continue rise
February
5th,
2012
By CountingPips.com The latest Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures speculators cut back on their US dollar long positions last week and Euro short positions improved for the first time in six weeks from their record low level. Non-commercial futures traders, usually [...]
Categories Forex Blog
Bernanke’s Comments “Lend Support” to Gold, But Precious Metals Dip Following Strong US Jobs News
February
3rd,
2012
London Gold Market Report from Ben Traynor BullionVault Friday 3 February 2012, 09:30 EST SPOT MARKET gold prices slipped back below $1750 an ounce while stock markets rallied strongly following the release of better-than-expected US jobs figures on Friday. The Bureau of Labor Statistics nonfarm payrolls report, published on Friday, shows that the US added a net [...]
Categories Forex Market News & Analysis
Source: ForexYard Today’s US Non-Farm Payrolls figure, widely considered the most significant economic indicator on the forex calendar, is set to generate heavy trading today. At the moment, analysts are predicting that the US added somewhere around 150K jobs in January. Should the final result come in below expectations the USD may come under renewed [...]
Categories Forex Market News & Analysis
Since the early days of the Eurozone debt crisis, insiders have identified China and its $3.2 trillion in foreign reserves as a potential contributor to a Eurozone bailout fund. Today, Premier Wen Jiabao gave markets reason to believe this may yet be the case when Wen suggested that China is considering the options for how [...]
Categories Forex Market News & Analysis
The recent downgrade to sovereign credit ratings for several of the Eurozone countries is just the latest challenge to befall the 17-member group of countries sharing the Euro. A total of nine countries were included in the downgrade and while none of the changes were overly surprising, the reclassification casts doubt on the likelihood that [...]
Categories Forex Market News & Analysis
Gold, Stocks and the Euro All Gain in “Risk Asset Recovery” as Positive Manufacturing Data “Confirms China’s Soft Landing”
February
1st,
2012
London Gold Market Report from Ben Traynor BullionVault Wednesday 1 February 2012, 08:30 EST THE U.S. DOLLAR cost of buying gold climbed to $1750 an ounce Wednesday morning London time – gold’s highest level since early December – while commodity prices also ticked higher and stock markets surged following the release of better-than-expected manufacturing data from several [...]
Categories Forex Market News & Analysis
The December unemployment rate for the 17-member countries comprising the Eurozone rose to the highest level since the Euro was introduced in 1999. For the month of December, the rate for the entire region rose to 10.4 percent after the November result was similarly revised upwards one tenth of a percent from the originally-reported 10.3 [...]
Categories Forex Market News & Analysis
EUR/USD broke the resistance mentioned last weekend and quoted above and then moved further up as we had mentioned towards 1.3230. The currency pair went as high as 1.3233 or a few pips below the Fibonacci 38.2% retracement of the downward move from October 27th to the recent bottom of January 15th. The strong upward [...]
Categories Forex Market News & Analysis
Robert Prechter discusses what’s backing your dollars By Elliott Wave International In this video clip, taken from Robert Prechter’s interview with The Mind of Money, Prechter and host Douglass Lodmell discuss “real” money vs the FIAT money system, and what is backing your dollars under our current system. Enjoy this 4-minute clip and then watch [...]
Categories Forex Articles
Gold “Has Foundation to Build Next Move Higher” Following FOMC “Catalyst”, Slow Physical Demand “Explains Gold’s Resistance at $1730″
January
27th,
2012
London Gold Market Report from Ben Traynor BullionVault Friday 27 January 2012, 08:30 EST WHOLESALE MARKET gold prices were headed for their biggest one-week rise since the start of December Friday lunchtime in London, climbing back through $1720 an ounce – a weekly gain of over 3%. Silver prices meantime hovered around $33.60 per ounce – 4.2% [...]
Categories Forex Market News & Analysis
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