Tag Archives: XTI USD

Gold Futures Settle At Over 7-year High

Gold prices rose sharply on Monday, extending gains to a third successive session, amid hopes central banks across the globe will announce further stimulus to revive the economies that are falling into a deep recession due to the coronavirus outbreak. Gold futures recorded their highest settlement since December 2012, as investors picked up the safe-have commodity even as global stocks rebounded after data showed a drop in new coronavirus cases in some of the virus hot spots in the European region. The dollar index, despite a choppy ride, held in positive territory. It was last seen at 100.70, up 0.12% from previous close, after moving between 100.48 and 100.93. Gold futures ended up $48.20, or about 2.9%, at $1,693.90 an ounce, the highest settlement price since December 17, 2012. Gold futures for June ended up $8.00, or about 0.5%, at $1,645.70 an ounce on Friday, after scoring a gain of 2.9% a session earlier. Silver futures for May ended up $0.675 at $15.193 an ounce, while Copper futures for May settled at $2.2175 per pound, gaining $0.0250 for the session. With dismal monthly jobs data from the Labor Department on Friday, and weak economic data from the euro area…

Singapore Announces S$5.1 Bln Additional Stimulus On Covid-19 Shock

Singapore announced an additional S$5.1 billion (US$3.6 billion) stimulus to save jobs and protect the livelihoods of people amid the spread of coronavirus, or COVID-19, pandemic. This is the third stimulus package, which was unveiled by Deputy Prime Minister Heng Swee Keat on Monday, and covers wage subsidies and cash payout. With the latest announcement, the government’s response to COVID-19 will total S$59.9 billion or around 12 percent of GDP. The budget deficit is estimated to rise to 8.9 percent of GDP this year. The government obtained President’s in-principle support for a draw of up to S$17 billion from past reserves to finance its second package. The central bank had eased its monetary policy last week as the city-state is expected to enter a deep recession due to the interruptions to economic activity caused by the outbreak of COVID-19. “The primary aim of this Solidarity Budget is to take further steps to save jobs and protect the livelihoods of our people during this temporary period of heightened measures,” Heng said. “We will also help businesses preserve their capacity and capabilities, to resume activities when the circuit breaker is lifted,” he added. The wage subsidy for all firms…

Gold Prices Rise 1% As Dollar Stays Flat

Gold prices rose on Monday after the U.S. Labor Department’s report on Friday showed that the economy shed 701,000 jobs in March, halting decade-long record of growth. Coronavirus fears also drove investors towards the safe-haven metal. Spot gold rose about 1 percent to $1,634.99 per ounce, while U.S. gold futures were up 1.1 percent at $1,663.00 per ounce. U.S. employment plunged by 701,000 jobs in March after an increase of an upwardly revised 275,000 jobs in February. Economists had expected employment to slump by 100,000 jobs compared to the addition of 273,000 jobs originally reported for the previous month. The much bigger than expected decrease came as employment in the leisure and hospitality sector plummeted by 459,000 jobs, mainly in food services and drinking places. The jobless rate rose to 4.4 percent from 3.5 percent in February. Meanwhile, the United States on Sunday entered one of the most critical weeks so far in the coronavirus crisis, with government officials warning that the death toll in places such as New York, Michigan and Louisiana was a sign of trouble to come in other states. The material has been provided by InstaForex Company – www.instaforex.com…

UK Car Sales Decline Sharply As Showrooms Shutdown: SMMT

UK new car sales declined sharply in March as showrooms closed after the outbreak of coronavirus pandemic, data from the Society of Motor Manufacturers and Traders, or SMMT, showed Monday. Car registrations plunged 44.4 percent on a yearly basis. The decline was steeper than during the 2009 financial crisis and the worst March since the late nineties when the market changed to the bi-annual plate change system, the SMMT said. In March, about 254,684 new cars were registered, with demand from private buyers and larger fleets falling by 40.4 percent and 47.4 percent, respectively. The lobby downgraded its 2020 outlook to 1.73 million units -23 percent decrease from the previous outlook made in January. This was around 25 percent lower sales than seen in 2019. “With the country locked down in crisis mode for a large part of March, this decline will come as no surprise,” Mike Hawes, SMMT chief executive, said. “We should not, however, draw long term conclusions from these figures other than this being a stark realisation of what happens when economies grind to a halt,” Hawes added. How long the market remains stalled is uncertain, but it will reopen and the products will be…

*BDI: German Economy To Shrink 3-6% This Year

BDI: German Economy To Shrink 3-6% This Year The material has been provided by InstaForex Company – www.instaforex.com…

Trading recommendations for GBPUSD pair on April 6

From a comprehensive analysis, we see the first significant change and I suggest that we analyze the details. The entire past week has been squeezed in the range of 1.2280//1.2380//1.2480, where the activity dropped over time and the oscillation amplitude contracted. A cardinal change occurred only on Friday, where the compression reached its limits and was replaced by an impulse that overcame the lower limit of its aisle and there were impulses that led the quote to the area of 1.2200. In fact, this is the first significant change since the beginning of the week, and now the main question is, how stable is it? If we turn our attention to other trading instruments, for example, the euro/dollar, we will see that the dollar with all its problems with the labor market continues to strengthen, which means that investors trust it and pour their assets into it. Returning to the pound, we note that the dynamics differ from the correlating pair (EURUSD), but the strengthening of the dollar here was more significant a period earlier. Traders assume that now there is another accumulation of trading forces, where a return to historical lows is a possible scenario for the future.
As…

Denmark Industrial Production Rises In February

Denmark’s industrial production grew in February after falling in the previous month, figures from Statistics Denmark showed on Monday. Industrial production rose a seasonally adjusted 2.1 percent month-on-month in March, after a 5.1 percent decline in February. In January, output increased 6.8 percent. The latest increase in production was mainly due to machinery and pharmaceutical industry. Production in metals increased by 13.1 percent monthly in February, and those of mechanical engineering and electronics industry rose by 11.3 percent and 8.7 percent, respectively. In the three months ended January, industrial production fell 0.3 percent from the preceding three months. Industrial turnover declined 2.2 percent monthly in February and fell 0.3 percent in the February quarter. The material has been provided by InstaForex Company – www.instaforex.com…

Oil will show the “Canadian” way

What can’t you do to pull the American stock market out of the abyss! And you will implement the $2 trillion fiscal stimulus, and the Fed will force the rate to drop almost to zero and reanimate QE, and you will reconcile the enemies. One of the important drivers of the fall in US stock indices is the peak of Brent and WTI to the area of 18-year lows, which negatively affects the stock prices of oil companies in the United States, increases the risks of their defaults and bankruptcies. In order to prevent this, Donald Trump has to put pressure on Russia and Saudi Arabia. Events in the black gold market attract the attention of investors, and along with it, interest in the currencies of oil-exporting countries is growing.The OPEC+ meeting and the report on the maple leaf country’s labor market for March make you look at the Canadian dollar. At the end of the second decade of spring, its position seemed hopeless, but cheap liquidity from the Fed and Donald Trump’s intervention in the oil war between Moscow and Riyadh changed the picture somewhat. The US President insists that the cartel and other producing countries reduce production by 10-15…

BTC analysis for 04.06.2020 – Important pivot resistance at the price of $7.245 on the test, watch for potential downside

News :Since the price of bitcoin plunged to historic lows last month, the bitcoin network’s hash rate has also been on a constant decline. Nearly 2.3 million S9 miners were wiped out in China recently as it became hard for miners to make profits. Network’s hash rate indicates how secure and strong the blockchain network is.Bitcoin’s hashrate dropped from 133.29 EH/S, the highest since the start of 2020, to 108.16 on 12th March, when the price of the leading cryptocurrency plunged below $4,000. Since then, the hashrate has been continuously falling as miners face tough times to continue their operations. On 4th April, hashrate was at 96.9888EH/S, an increase in hashrate must be accompanied by an increase in the price of bitcoin for miners to maintain healthy profit margins. Technical analysis: BTC has been trading upwards. The price is at the very critical pivot level at $7.245. This is decision level for BTC and you should watch carefully this level.I do expect potential downside rotation and rejection towards the level at the price of $5.827. Watch for selling opportunities.Only if you see the breakout of the $7.245, watch for possible rise towards the $7.691.MACD oscillator is showing neutral stance and no…

German Factory Orders Fall Less Than Expected

Germany’s factory orders declined less than expected in February, data from Destatis revealed Monday. Factory orders fell 1.4 percent month-on-month in February after rising by revised 4.8 percent in January. Orders were expected to fall 2.5 percent. Domestic orders grew 1.7 percent, while foreign demand fell 3.6 percent in February from the previous month. On a yearly basis, factory orders grew 1.5 percent, in contrast to a 0.8 percent drop in January. Economists had forecast a marginal drop of 0.2 percent. Data showed that manufacturing turnover edged up 0.1 percent in February but slower than the 1.1 percent increase seen in January. The material has been provided by InstaForex Company – www.instaforex.com…