Post Tagged with: "Gold"
The dancing dollar
No one ought to be surprised by yesterday’s commanding performance by the world’s major reserve currency. With most of Europe falling into recession and some of Asia’s major economies losing momentum rapidly, it is little wonder that investors and traders are turning back towards the dollar at a time when the American economy is actually
UK deficit-reduction strategy on track
The UK is a fiscal test case that many are watching closely. The economy has ground to a halt over the past nine months but the government is sticking to its plans to rein in the deficit. The borrowing numbers released on Friday show that the deficit is currently on track to meet the targets
Time running out for Greece
With nothing concrete emerging from the Ecofin meeting over the weekend and Greece’s creditors still balking at releasing the next tranche of bailout money, the single currency has fallen heavily overnight. Apparently the troika will be conducting a phone hook-up with Greek Finance Minister Venizelos today to discuss whether Greece has made sufficient progress on
Obama deploys fiscal firepower
US President Obama presented a package of measures last night that was larger than expected and aimed at restoring some confidence in the flagging US economy. The USD 450bln plan emphasised tax cuts, as well as an infrastructure spending bank with USD 80bln of firepower. This was more a fiscal stimulus plan, rather than a
Gold not such a precious metal
Following such an incredible run, it is not surprising to see some of those with immensely profitable positions starting to cash in their gold bars. After reaching yet another record high of USD 1,914 on Tuesday morning, the gold price has collapsed over the past couple of days, reaching USD1,729 at one stage overnight, a
Buyers lurk with intent
Perhaps it was just the calm before the storm, where the latter represents whether the Fed Chairman will announce his preparedness to undertake more QE when he speaks on Friday at the Jackson Hole symposium. After the volatility evident at the end of last week, trading conditions yesterday were generally less eventful. Buyers were lurking
Have the madmen taken over?
Politicians are taking it to the wire in terms of negotiating a budget deal to allow the debt ceiling to be raised. With the deadline now just eight days away, the outline of a deal really needs to be agreed today for it to stand a realistic chance of being passed into law by the
GOLD On The Offensive With Eyes On The 1,550.00 Level
The precious metal remains on the offensive pressing higher and increasing risk of a run at the 1,550.00 level, its psycho level.Its present offensive is coming on the back of its recent consolidation at the 1,480.85 level. Guest post by www.fxtechstrategy.com Price extension is expected towards the 1,600 level, its psycho levels if the 1,550.00
Elliott Wave Video Analysis: Aussie, Euro, Gold and S&P500
European Stocks are higher today, pushing the US dollar lower across the board. One of the strongest currencies today is Australian dollar, which is up more than 0.50% today, threatening the parity level. We see even more upside for Aud/Usd confirmed by bullish Gold prices that reached new highs this morning around
Gold: A Corrective Pull-back?!
Gold is trading higher for the past few days, but an upward structure from 1329 lows is showing signs of a corrective recovery after the trend changed direction on 9th of November. Important resistance region that traders should pay attention on for a potential reversal from a wave 2 high, is between 1390-1400 zone. We