SubscribeAll Posts Tagged With: "cut rates"
RALLY IN RISK PUTS PRESSURE ON THE DOLLAR TO THE DOWNSIDE
We are seeing a light revival in risk appetite putting downside pressure on the dollar. The EurUsd rose nearly 100pips to the mid range of 1.29, while the UsdJpy fell roughly 50pips to the bottoming out around 89. The GbpUsd gained 50pips pushing the pair back above1.43 ahead of the BoE meeting scheduled for this week. Equity markets are positive in the US and Europe with the Dow higher by 1.7% or 141pts. Bond yields followed suit as rates jumped higher across the UST curve, notably the 10 and 30yr saw the largest moves up 16 and 20bps respectively. Commodities…
3Feb2009 | Advanced Currency Markets | 0 comments | ContinuedStrong Dollar Rally Causes Gold Prices to Tumble
Gold prices tumbled below $800 per ounce for the first time since late 2007 Friday, as the continuing U.S. dollar rally sparked an across-the-board retreat in commodity prices.
Gold closed Friday at $792 an ounce, a decline of $22.40, or 2.75%. Gold prices have plummeted 23% since the “yellow metal” hit an all-time record of $1,032 an ounce on St. Patrick’s Day.
“The dollar’s continuing uptrend is a key factor depressing commodities in general and triggering heavy sales in gold,†Shuji Sugata, manager at Mitsubishi Corp. Futures and Securities Ltd. in Tokyo told Reuters.
Investors who had been using precious-metals investments as a…
19Aug2008 | Money Morning | Comments Off | ContinuedStrong Dollar Rally Causes Gold Prices to Tumble
Gold prices tumbled below $800 per ounce for the first time since late 2007 Friday, as the continuing U.S. dollar rally sparked an across-the-board retreat in commodity prices.
Gold closed Friday at $792 an ounce, a decline of $22.40, or 2.75%. Gold prices have plummeted 23% since the “yellow metal” hit an all-time record of $1,032 an ounce on St. Patrick’s Day.
“The dollar’s continuing uptrend is a key factor depressing commodities in general and triggering heavy sales in gold,†Shuji Sugata, manager at Mitsubishi Corp. Futures and Securities Ltd. in Tokyo told Reuters.
Investors who had been using precious-metals investments as a…
18Aug2008 | Money Morning | Comments Off | Continued
Loading ...
