|Day's range||1,503.30 - 1,507.60|
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112.
Stocks retraced some of their recent declines on Friday, as investors’ sentiment improved following bouncing off the short-term support level, economic data releases. The S&P; 500 index continues to trade within a consolidation. Is this a bottoming pattern or just a flat correction before another leg down?
A weekend attack on a Saudi oil facility by Yemeni separatists sends oil prices higher. Here's a rundown on big winners and losers from the oil price rally.
Gold prices could weaken for several days as traders trim positions ahead of the start of the central banker symposium at Jackson Hole, Wyoming.
Gold and silver are trading down on Monday as investors are betting on riskier assets such as equities and currencies. XAU/USD is testing the 1,490 area, while silver is trading below the 17.00 area.
Over the weekend, White House economic adviser Larry Kudlow said trade deputies from the United States and China would speak within 10 days and could advance negotiations over ending the trade dispute between the two economic powerhouses if those talks pan out.
The price action suggests traders have a limited bias early in the session. However, holding above the pivot at .6740 suggests a support base may be forming.
Papua New Guinea plans to take a larger share of the Porgera gold mine as part of lease-renewal talks, diluting the ownership of joint venture partners Barrick Gold Corp and Zijin Mining Group, the country's commerce minister told Reuters on Monday. Porgera, located in PNG's northern highlands region, is expected to produce 240,000 to 260,000 ounces of gold this year. PNG's Minister for Commerce and Industry, Wera Mori, said a portion of Barrick and Zijin's stakes would be given to the national and provincial governments and to landowners.
Powell will essentially have to talk tough in an effort to calm the financial markets. If he misses then he may actually trigger more volatility in the stock markets that could send investors back into the Japanese Yen for safety.
The week will start with mixed weather conditions. NatGasWeather points out blistering conditions in Texas and out West, but cooler-trending weather outlooks for the rest of the country.
On Friday, October WTI crude oil settled between a pair of 50% levels at $53.95 and $55.72. Since the trend is down, we’ll look at it from the short-side perspective. Based on the close at $54.81, the direction of the market on Monday is likely to be determined by trader reaction to the main 50% level at $55.72.
Based on last week’s price action and the close at .6425, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the pivot at .6483.
The main trend is up according to the daily swing chart. A trade through 98.700 will signal a resumption of the uptrend. A move through 96.980 will change the main trend to down.
The S&P; 500 has been very noisy during the week, breaking down towards the 50 week EMA before bouncing. It this does show a bit of conflict, which after the last couple of weeks might be a good thing.
The Australian dollar has chop around during the week, showing signs of exhaustion, as the Australian dollar of course continues to suffer at the hands of the US/China trade war which seems to only be getting worse.
Silver markets fell rather hard during the trading session on Friday to close out the week but have turned right back around to show signs of support. At this point, the market looks very likely to continue the uptrend but a pullback is possible.
The crude oil markets fell significantly during the trading session on Friday to close out the week and show signs of weakness yet again. At this point I believe that the market is more than likely going to continue to the downside, so I am shorting.
The Euro broke down significantly during the trading session on Friday, slicing through the 1.11 EUR level. This of course is a very negative turn of events as we start racing towards the 1.10 EUR level.
BENGALURU/MUMBAI (Reuters) - High prices prompted Asian consumers to sell back physical gold this week to lock in profits, though price dips still attracted buying as economic jitters burnished the metal's appeal as a haven from risk. Global benchmark spot gold hit a six-year high on Tuesday and was headed for a third straight week of gains, up 1%.