Gold

The greenback maintained gains as economic data from the United States continued to support the view that growth was robust. The monthly retail sales report surprised with an increase of 1.6% on the month, while core retail sales were up…
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The USD was trading mixed on Wednesday despite positive headlines from China. The first quarter GDP report showed China’s growth rising at a pace of 6.4% beating estimates of 6.3%. Industrial production grew 8.5% on a year over basis.…
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Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1286, resulting in improved risk/reward.
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The quarterly inflation report from New Zealand saw consumer prices rising at a slower pace than forecast. Data from Statistics New Zealand showed that the consumer price index rose 0.1% in the first three months of the year. This was…
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Reports from Washington revealed that the US and China are close to agreeing to a trade deal. This comes after Washington reportedly eased its demands by giving industrial subsidies and focusing more on technology and IP protection.…
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The US dollar closed last week on a bearish note. Economic data on the day saw the release of the monthly import price data. Monthly import prices advanced 0.6% on the month beating estimates of a 0.4% increase. The gains were spurred by…
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The weekly jobless claims for the week ending April 5th touched a new low. Official data showed that the initial jobless claims fell to 196,000 beating estimates of 210,000. This was a new low in the weekly jobless claims report in the…
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The US dollar was seen trading weak on the day on Wednesday. Inflation data released by the Labor Department showed that headline inflation for March rose 0.4%, beating estimates. This pushed the annual inflation rate to 1.9%. However,…
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The International Monetary Fund (IMF) cut its global growth outlook once again. For the year 2019, growth is forecast to rise by 3.3% compared to 3.5% previously. The IMF cited several downside risks including Brexit, US-China trade…
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The monthly factory orders report showed a 0.5% decline on the month matching estimates. The declines in February mark a fourth consecutive fall in factory orders. As a result, the USD was trading weaker on the day. The monthly durable…
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