Physical demand from China and the USA Cheer Gold. Gold futures rose to a weekly rate as rising demand from China, the second largest buyer in the world. China's imports from Hong Kong almost doubled in November from the previous month, the data indicated the government. The U.S. Mint has sold as many as 71.500 ounces of American Eagle gold coins this month, compared to 76.000 ounces of gold for all types of in December. On January 4, gold futures touched the lowest level in 4-months as the Federal Reserve's signal that the stimulus program likely will end this year.
"The decline in prices last week has attracted buyers, says Anthem Blanchard, CEO of Blanchard Vault. In a telephone interview. "We saw strong demand from China."
Euro Debt Rating worry about France
The euro turned lower versus the U.S. dollar as market participants adjust positions ahead of the meeting of the European Cental Bank Thursday tomorrow. Each signal rate cuts in the future of the ECB policy makers will potentially push euro lower. The euro was also weighed down by rumors that French debt if the rating will be lowered in the near future. However, the movement of the euro may still be limited ahead of ECB meeting and Spanish and Italian bond auctions later this week.
The fragility of the UK economy haunt Sterling
Pound fell against the greenback following the results of a survey of weak retail sales, which added to concerns about the fragility of the UK economy. Report of the British Retail Consortium showed retail sales barely rose in the Christmas holidays, reinforcing expectations that the economy will contract in the fourth quarter of 2012. Weak economic data also increase the risk of losing rating 'AAA' England.
Trade Deficit Landscape, Aussie Faded Charm
The Australian dollar slipped for the first time in 3 days after Australia's trade balance recorded a deficit widest since 2008. Imports exceeded exports recorded at A $ 2.64 billion ($ 2.77 billion) in November from the previous month's deficit was revised to A $ 2.44 billion. While an index swaps show traders see a 60% chance that the Reserve Bank of Australia will cut interest rates from 3% in the quarter.
Profit Taking Closer Showing USDJPY to 87.00
Stop loss continues to push the U.S. dollar moved lower against the yen, with the next strong support is located at 87.00 yen, according to Brad Bechtel Faros Trading. Bechtel added that profit-taking financial institutions on short yen positions previously recommended risk drowning USDJPY up to around 86 yen this week. On the other hand, falling U.S. Treasury yields were also given the threat USDJPY currency pair is known to be very sensitive to differences in U.S. and Japanese interest rates. Some market players see the greatest test for further USDJPY will come from the new stimulus package announcement by Finance Minister Friday. Investors also will not release the attention of Bank of Japan policy statement on 22 January. Currently, the U.S. dollar traded at 87.10 yen, or about 0.85% below the closing price yesterday.
"The decline in prices last week has attracted buyers, says Anthem Blanchard, CEO of Blanchard Vault. In a telephone interview. "We saw strong demand from China."
Euro Debt Rating worry about France
The euro turned lower versus the U.S. dollar as market participants adjust positions ahead of the meeting of the European Cental Bank Thursday tomorrow. Each signal rate cuts in the future of the ECB policy makers will potentially push euro lower. The euro was also weighed down by rumors that French debt if the rating will be lowered in the near future. However, the movement of the euro may still be limited ahead of ECB meeting and Spanish and Italian bond auctions later this week.
The fragility of the UK economy haunt Sterling
Pound fell against the greenback following the results of a survey of weak retail sales, which added to concerns about the fragility of the UK economy. Report of the British Retail Consortium showed retail sales barely rose in the Christmas holidays, reinforcing expectations that the economy will contract in the fourth quarter of 2012. Weak economic data also increase the risk of losing rating 'AAA' England.
Trade Deficit Landscape, Aussie Faded Charm
The Australian dollar slipped for the first time in 3 days after Australia's trade balance recorded a deficit widest since 2008. Imports exceeded exports recorded at A $ 2.64 billion ($ 2.77 billion) in November from the previous month's deficit was revised to A $ 2.44 billion. While an index swaps show traders see a 60% chance that the Reserve Bank of Australia will cut interest rates from 3% in the quarter.
Profit Taking Closer Showing USDJPY to 87.00
Stop loss continues to push the U.S. dollar moved lower against the yen, with the next strong support is located at 87.00 yen, according to Brad Bechtel Faros Trading. Bechtel added that profit-taking financial institutions on short yen positions previously recommended risk drowning USDJPY up to around 86 yen this week. On the other hand, falling U.S. Treasury yields were also given the threat USDJPY currency pair is known to be very sensitive to differences in U.S. and Japanese interest rates. Some market players see the greatest test for further USDJPY will come from the new stimulus package announcement by Finance Minister Friday. Investors also will not release the attention of Bank of Japan policy statement on 22 January. Currently, the U.S. dollar traded at 87.10 yen, or about 0.85% below the closing price yesterday.
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