|Day's range||1,275.20 - 1,280.40|
It took Reuters journalists a few days of research to work out that the numbers coming out of Africa’s vast gold trade did not add up. It then took almost another 15 months - and the contributions of colleagues and analysts across the world - to show how those discrepancies pointed to a vast web of smuggling operations, reaching from the pit mines of the Democratic Republic of Congo across the continent to the Gulf. Reuters has now published the first results of all that work – an exclusive report on the billions of dollars' worth of gold spirited out of Africa every year through the United Arab Emirates, a gateway to markets in Europe, the United States and beyond.
The S&P 500 did very little during the trading session on Wednesday, as we hover just below the all-time high, so therefore it’s not a huge surprise that we took a break as we had the impulsive session on Tuesday.
The Silver markets rallied a bit during the trading session on Wednesday, as we have reached a significant support line. However, there are a multitude of questions currently when it comes to both the currency and precious metals markets, so we are still in a “no go” zone.
Crude oil markets had a very poor EIA numbers come out during the trading session on Wednesday, and of course this did put a little bit of a drag on crude oil, but at the end of the day the market is bullish and of course has recently broke major resistance.
Based on the early price action and the current price at 2937.00, the direction of the June E-mini S&P 500 Index the rest of the trading session is likely to be determined by trader reaction to the steep uptrending Gann angle at 2937.50.
Based on the early price action and the current price at $65.85, the direction of the June WTI crude oil futures contract the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at $65.65.
The loonie pair recorded new monthly levels. The Crude Oil WTI Futures showed a moderate performance. The pair traded well above the 200-days significant SMA triggering a bull call. The US-Sino trade reported positive updates giving support to the growing loonie.
If anyone is questioning the Fed’s dovish pivot, take one look at the S&P 500 which suggests the Fed pause is delivering in spades.
The main takeaway from the report is that quarterly inflation fell to an annual rate of just 1.42%. This put it well below the bottom of the RBA’s 2-3% medium-term target. With underlying inflation decelerating away from the RBA’s mandated level, the odds of a central bank rate cut over the near-term are accelerating.
The company's output totalled 116,183 ounces of gold for the three months ended March 31, above its forecast range of 105,000 to 115,000 ounces. Unit cash costs jumped 9 percent to $631 per ounce of gold produced, in keeping with its tone in February when it warned of higher costs due to increasing input costs and rising fuel, reagent and consumable prices.
Based on the early price action, the direction of the USD/JPY on Wednesday is likely to be determined by trader reaction to the downtrending Gann angle at 111.858.
Investing.com - Gold prices slipped on Wednesday in Asia, pressured by strong earning reports stateside and strong U.S. housing data released overnight.
Global equity markets rallied on Tuesday, with the Nasdaq and S&P 500 indexes setting record closing highs on Wall Street, while European energy shares posted their biggest daily gain since January as crude prices surged. U.S. stocks soared on upbeat results from Twitter Inc, Coca-Cola Co, United Technologies Corp and Lockheed Martin Corp, which eased fears of a profit recession in a busy week for corporate earnings. European oil and gas shares jumped 2%, with BP Plc and Royal Dutch Shell Plc leading gains in London, while the FTSEurofirst 300 Index of leading European shares hit eight-month highs.
Natural gas markets bounced a bit after initially trying to dipped lower during the day on Tuesday, as we have reached extremes to the downside. That being said, this is a market that looks very dangerous.
Gold markets broke down a bit during the trading session on Tuesday, slicing through sideways support that I had pointed out previously. Beyond that, we also stay below there although there was a bit of a bounce later in the day. At this point though, we have seen where gold is going.
The British pound went back and forth during the trading session on Tuesday as traders came back to work from the Easter holiday. We sliced through the 1.2950 level, which is an area of major support and it now looks as if we are ready to drift lower.
The British pound initially tried to rally during the trading session on Tuesday but has seen enough selling pressure to turn things back around and start reaching towards the ¥145 level. Just below though, there is a lot in the way of support.
Thin trading conditions could also be helping to exaggerate the sell-off. The Australian and New Zealand markets were closed on Friday and Monday. And they close again on Wednesday. If the major banks and institutions are still on the sidelines, volatility could be heightened and small orders could drive the markets violently in either direction.
Tuesday, April 23 — crypto markets rallied today, with bitcoin (BTC) hitting its new 2019 high of over $5,500. Most of the top 20 cryptocurrencies by market cap are solidly in green at press time, with tezos (XTZ) having jumped more than 12% over the past 24 hours. Bitcoin continued to gain momentum and has surged to as high as $5,590 today, according to CoinMarketCap.