America’s Roundup: Dollar rises vs major currencies ahead of Fed meeting, Gold firms, Wall Street ends higher,Oil falls on India's COVID rise; OPEC+ limits drop-April 27th,2021
America’s Roundup: Dollar dips after U.S. central bank dampens taper hopes, Wall Street ends, Gold gains, Oil gains more than 1% on fuel demand hopes-April 29th,2021
America’s Roundup: Dollar eases off of two-week high ahead of jobs report as mega cap , Wall Street rises , Gold firms, Oil ends little changed, U.S. oil inventories fall-May 6th,2021
America’s Roundup: Dollar index hits six-week low, Wall Street slips from record highs, Gold slips from 7-week top, Oil gains as dollar drops, gains capped by rise in Covid-19 cases-April 20th,2021
Europe Roundup: Euro gains after data points to stronger recovery, European shares dips, Gold gains, Oil steady as rising India COVID-19 cases weigh-April 23rd,2021
Europe Roundup: Euro dips a focus turns to ECB policy meeting on Thursday, European shares rebound, Gold retreats, Oil dips as rising COVID-19 in India dents demand outlook-April 21st,2021
Sure, interest rates are negative, but so are some prices, and when you look around, they're everywhere
Europe Roundup: Sterling dips against dollar as markets wait for global cues, European shares extend gains, Gold hovers near eight-week high, Oil extends losses on U.S. stock build, pandemic concerns-April 22nd 2021
Gold off 3-week peak as greenback steadies amid caution over U.S. stimulus
Gold prices eased from a 3-week high hit earlier in the day as the dollar firmed, although hopes for a new U.S. coronavirus aid package limited the precious metal’s losses.
Spot gold declined 0.3 percent to $1,925.64 per ounce by 0734 GMT, having hit a high of $1933.29 earlier, its highest since September 21. U.S. gold futures rose 0.2 percent at $1,930.35.
The dollar index steadied near a 3-week low against its rival currencies after negotiation on the U.S. stimulus package ran into resistance and as the yuan dropped after China’s central bank took a measure seen as aimed at curbing its strength.
The Trump administration called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small business loan programme. The $1.8 trillion economic stimulus proposal drew criticism from congressional Democrats and Republicans, diminishing hopes for a coronavirus relief deal before the Nov. 3 election. Although investors seem optimistic that spending will resume at some point.
U.S. House Speaker Nancy Pelosi, in a weekly letter to Democratic colleagues, stated that the Trump administration’s proposal lacked a strategic plan to crush the virus and gave President Donald Trump too much discretion to decide how funds were allocated.
With November 3 election only weeks away, investors speculate that Democrat Joe Biden is more likely to win the U.S. presidency and offer a larger economic package.
China returned from an eight-day Mid-Autumn festival with investors encouraged by a robust rebound in tourism and ebbing coronavirus cases. The People’s Bank of China said it will lower the reserve requirement ratio for financial institutions when conducting some foreign exchange forwards trading, removing a guard against depreciation.
The greenback against a basket of currencies traded flat at 93.08, having touched a low of 93.01 earlier, its lowest since September 21.
Trading is likely to remain subdued as U.S. markets are closed on account Columbus Day.