TAG Commodities

Dangerous Brinkmanship

Dangerous Brinkmanship Another in the expanding history list of topsy-turvy Thursdays’ when it comes to risk as the President Gave, and the President Hath Taken Away only to leave the door open again when it comes to North Korea discussions. The increasing headline chatter around the North Korea summit finally culminated with President Trump cancelling…

READ MORE 

Gold Unsteady as Investors Await FOMC Minutes

Gold continues to hug the $1290 line in Wednesday session, where it has hovered for much of the week. Earlier in the day, gold moved close to $1300 but has since retracted. In North American trade, the spot price for one ounce of gold is $1291.20, down 0.01% on the day. New Home Sales dropped to 662…

READ MORE 

Another Turkish Lira flash crash

Another Turkish Lira flash crash   A busy start to the session dealing with yet another mini TRY flash crash as the bad Lira news continues to compound. Otherwise, global Forex and fixed income markets remain in neutral  overnight and predictably focused on the upcoming FOMC minutes The Turkish Lira meltdown. As far as I can…

READ MORE 

Gold Listless as Investors Look for Cues

Gold is almost unchanged in the Tuesday session. In North American trade, the spot price for one ounce of gold is $1292.77, up 0.01% on the day. It’s another quiet day on the release front, with no key indicators. The sole event was the Richmond Manufacturing Index, which jumped to 16, well above the estimate…

READ MORE 

Commodity currencies are beaming

  Currency Markets The US dollar has given up some of its gains overnight as investors keenness for Greenbacks has temporarily abated. The shifting dynamics around trade and tariffs does give pause for thought as US dollar bulls are consolidating gains at a very tricky and treacherous junction for both the USD and US bond yields. After…

READ MORE 

Gold Dips as China-US Tariff Spat Eases

Gold has started the new trading week with losses. In Monday’s North American trade, the spot price for one ounce of gold is $1289.63, down 0.22% on the day. It’s a very quiet day on the release front, with no key indicators on the schedule. The sole event is a speech from FOMC member Raphael Bostic.…

READ MORE 

A test of the breakouts

A test of the breakouts  This week should be all about contesting and consolidating last week’s significant breakouts in 10 year UST, EURUSD, USDJPY and Oil Prices. And despite weekend inspired short-covering in US fixed income, we’ve seen a weekly close in US 10y above 3.05 %. And with the Baker Hughes rig count holding…

READ MORE 

It’s all about the Benjamins

It’s all about the Benjamins The USD continues to rally across the board as US yields continued to be the primary driver and threatening to break out above the fundamental 3.125 level, but the ease of the  50+pb steeping that got packed into the Two-Year vs Ten  Year treasury curve is creating the unwelcoming tremors across…

READ MORE 

The trend is your friend.

The trend is your friend. Currency Markets There was an intense focus on Italy Wednesday thanks to speculation that its new coalition government would request that the ECB write-off the bank’s QE-acquired debt of EUR250bn. Panic ensued with the EURUSD plunging to 1.1760 before recovering after the report was denied. But the Italian political noise…

READ MORE 

Gold Steadies After Slipping Below $1300

Gold is trading sideways in the Wednesday session, after sharp losses on Tuesday. In North American trade, the spot price for one ounce of gold is $1290.61, down 0.03% on the day. On the release front, construction numbers were mixed. Building Permits remained steady at 1.35 million, matching the forecast. Housing Starts dropped to 1.29 million,…

READ MORE