Bullet Report | GOLD reaches new highs, Dollar under Pressure

They are no major economic releases today from the US or EU so sentiment is very likely to remain supportive for stock markets, oil, gold and obviously major currencies versus the USD after Janet Yellen’s speech on Monday.

Currencies: USD Index is trading at a 4 week low, EURUSD is attempting new highs but price is stalling at 1.1370. USDJPY dropped overnight on falling stock markets and price is now again close to 107 after a short recovery to 107.70. The AUDUSD edged up 0.1 % to $0.7462 after surging more than 1 % in the previous session to a 1-month high of $0.7465 following the Reserve Bank of Australia’s decision to stand still on monetary policy and hint it was not in a hurry to raise rates. Elsewhere, the speculation over whether Britain will vote to remain in the European Union at a referendum on June 23 continued to torture the GBP.
Stocks: Shares in Asia were weaker today, despite US stocks remaining near multi month highs. Investors on Wall Street continued to digest Yellen’s closely-watched speech from the previous session when the chair of the Federal Reserve outlined a wide range of factors contributing to the extreme uncertainty in the global economy at large.

Oil and GOLD: Oil prices rose for a 3rd day to their highest in about 8 months on Wednesday, helped by industry data showing a larger-than-expected drawdown in U.S. crude inventories, worries about attacks on Nigeria’s oil industry and strong Chinese demand. The weak USD, is also helping GOLD which is priced in USD to reach levels not seen since late May ($1250). Year to date the metal is higher by 18%, the best start to a year in a decade.

The post Bullet Report | GOLD reaches new highs, Dollar under Pressure appeared first on Forex.Info.

Source:: Bullet Report | GOLD reaches new highs, Dollar under Pressure

Won't your trader friends like this?
easyMarkets
About the Author
With over a decade of trading expertise and 100,000 fulfilled clients in 160 countries worldwide, easyMarkets will tick all your boxes whether you are a new or experienced trader, affiliate or introducing broker. [space height="20"] Trade 300+ markets including currencies, commodities, metals, vanilla options and indices from one place without the jargon, complicated offers and confusing terms! [space height="20"] Welcome to the exciting world of trading. Welcome to easyMarkets.

Related Posts

Leave a Reply

*