Gold daily news: XAU/USD trading along last week’s lows

Gold daily news: XAU/USD trading along last week’s lows

The gold futures contract gained 0.79% on Friday as it slightly retraced Thursday decline of 1.7%. On Thursday it extended a downward correction from The International Chamber of Commerce (ICC) speaks with Amgad Shehata and Maria Gabriela Diaz Cordova of the Global Alliance for Trade Facilitation, to better understand how developing countries and regions can use the private sector to overcome development challenges. Forex news from the European trading session – 25 May 2020
Headlines:
Markets:
– CAD leads, JPY lags (very minor changes)
– European equities higher; E-minis up 1.0%
By Justin Low Asian markets are in mixed territory Monday. 

Tokyo’s Nikkei index closed 1.7% higher on news that the government was set to lift the coronavirus state of emergency on Tokyo, while the Hong Kong’s Hang Seng index is 0.15% lower as the financial hub was rocked by new protests over China’s proposed national security law critics say will bring an end to the city’s semi-autonomous status. 

Shanghai’s index closed slightly (0.15%) higher, while Sydney’s S&P/ASX is up over 2%. Seoul’s KOSPI is up 1.2%, while Taiwan’s TSEC index finished the trading day 0.5% higher. 

In oil trading, U.S.

The gold futures contract gained 0.79% on Friday as it slightly retraced Thursday decline of 1.7%. On Thursday it extended a downward correction from the last Monday’s new monthly high of $1,775.80. The market has retraced almost all of the decline from April 14 high of $1,788.80, before reversing downwards again. Gold price continues to trade within an over month-long consolidation, as we can see on the daily chart:

Gold

Gold is 0.3% lower today, as it extends a short-term consolidation following last Thursday’s decline. What about the other precious metals?: Silver gained 1.89% on Friday and today it is 0.5% lower. Platinum gained 2.29% and today it is 0.7% lower. And palladium lost 4.13%. Today it is 0.3% higher. Precious metals are within a short-term consolidation today.

Last week’s economic data releases didn’t bring much surprises. They have been confirming a negative coronavirus impact on gobal economies for some time. Thursday’s Philly Fed Manufacturing Index came at over -43.1 points and the Unemployment Claims were over 2.4 million. Flash Manufacturing and Services PMI’s have been as expected, however still below the 50 mark. The markets are used to bad economic numbers, as stocks remain relatively close to their medium-term local highs following rebounding from the late March lows. On Friday, we didn’t get any important economic data. And today, there’s a bank holiday in the U.S. – Memorial Day. So markets’ volatility is somewhat less than usual.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days. Investors will wait for tomorrow’s U.S. CB Consumer Confidence along with the New Home Sales data releases:

1:30 p.m. Canada – BOC Governor Poloz Speech

All Day, U.S. – Bank Holiday (Memorial Day)

9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y

9:00 a.m. Eurozone – ECB Financial Stability Review

10:00 a.m. U.S. – CB Consumer Confidence, New Home Sales

1:00 p.m. U.S. – FOMC Member Kashkari Speech

5:00 p.m. Canada – BOC Governor Poloz Speech

Source: www.fxstreet.com


Trading thoughts with the Global Alliance for Trade Facilitation

Trading thoughts with the Global Alliance for Trade Facilitation

Home » News & Speeches » Trading thoughts with the Global Alliance for Trade Facilitation

The International Chamber of Commerce (ICC) speaks with Amgad Shehata and Maria Gabriela Diaz Cordova of the Global Alliance for Trade Facilitation, to better understand how developing countries and regions can use the private sector to overcome development challenges.

Listen now on Soundcloud |  Spotify | Apple Podcasts

In this episode of Trading Thoughts, the International Chamber of Commerce (ICC) discusses how the Global Alliance for Trade Facilitation is tapping into the skills, expertise, and resources of business, to advance development solutions for all.

María Gabriela Díaz, Project Manager, Global Alliance for Trade Facilitation and Amgad Shehata, Senior Vice President of International Public Affairs and Strategy, UPS, and a member of the Alliance’s steering group.

Find out more about the Global Alliance for Trade Facilitation.

Learn more about ICC’s campaign to Save Our SMEs.

Source: iccwbo.org


ForexLive European FX news wrap: Stocks rise, currencies subdued in thin trading

ForexLive European FX news wrap: Stocks rise, currencies subdued in thin trading

Headlines:

Markets:

  • CAD leads, JPY lags (very minor changes)
  • European equities higher; E-minis up 1.0%
  • Gold down 0.4% to $1,727.56
  • WTI up 0.9% to $33.55
  • Bitcoin down 4.9% to $8,731

EOD 25-05
It was a quiet session for the most part as UK markets were closed and that resulted in very subdued ranges in the major currencies space.

But equities found some room to rally, with the DAX rising to its highest level since 6 March as the German government is reportedly nearing a €9 billion bailout of Lufthansa.

The positive vibes reverberated throughout the session, with US futures also up 1%.

That said, it didn’t do much for major currencies as the ranges to start the week remains relatively narrow and dollar pairs are less than 0.1% change currently.

Risk sentiment remains the key driver in the market at the moment but the lack of headlines today isn’t really leading to much notable movement in the market.

With US also observing a holiday, the subdued conditions are likely to continue to play out before we get a better sense of the current stock market rally tomorrow.

Source: www.forexlive.com


Asian Markets Mixed at Start of Shortened Trading Week

Asian Markets Mixed at Start of Shortened Trading Week

Asian markets are in mixed territory Monday. 

Tokyo’s Nikkei index closed 1.7% higher on news that the government was set to lift the coronavirus state of emergency on Tokyo, while the Hong Kong’s Hang Seng index is 0.15% lower as the financial hub was rocked by new protests over China’s proposed national security law critics say will bring an end to the city’s semi-autonomous status. 

Shanghai’s index closed slightly (0.15%) higher, while Sydney’s S&P/ASX is up over 2%. Seoul’s KOSPI is up 1.2%, while Taiwan’s TSEC index finished the trading day 0.5% higher. 

In oil trading, U.S. crude oil is $33.60 per barrel, up 1%, while the international standard, Brent crude, is $35.27 per barrel, up 0.4%.   

All three U.S. stock exchanges will be closed in observance of Monday’s Memorial Day holiday.  

Source: www.voanews.com

Author: By VOA News

Thu, 05/21/2020 – 07:53


Gold daily news: XAU/USD trading along last week’s lows

Leave a Comment