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Asian currencies fueled by new trade optimism
By Ritu, Capital Sands Asian currencies made something of a comeback on Thursday morning in Asia as optimism about a possible trade deal between China and the US returned. The USD was lost a little ground and the Australian dollar stopped a multi-day slide even as the Yuan continued to slide. On Wednesday US President […]
Forex – Dollar Near 1-Month Lows as Trade War Fears Ramp Up
By Ritu, Capital Sands The U.S. dollar was trading near one-month lows on Wednesday after U.S. President Donald Trump warned a trade deal with China might not come until after the 2020 presidential election and threatened to escalate his trade war with other nations. The U.S. dollar index against a basket of six major currencies was […]
Gold Prices Up; Trade Deal Might Come After 2020 Election
By Ritu, Capital Sands Gold prices were supported by a fresh round of uncertainty of the US-China trade deal on Wednesday morning in Asia. The precious metal still hovered near a three-week high above $1,480. Gold Futures contracts were up 0.06% to trade at $1,485.35 by 11:10 PM ET. US President Donald Trump suggested […]
France and EU ready to fight back over U.S. tariff threat, ministers say
By Ritu, Capital Sands France and the European Union are ready to fight back over the latest U.S. tariff threats on French products, French government ministers said on Tuesday. On Monday, the U.S. government said it may impose punitive duties of up to 100% on $2.4 billion of imports from France, including champagne, handbags, […]
Gold trades marginally lower, awaiting trade talk cues
By Ritu, Capital Sands Gold traded marginally lower on Tuesday morning in Asia, hovering around the $1,468 range as the U.S. and China are still in talks for ‘deal or no deal.’ Gold Futures contracts traded at $1,467.95 by 10:00 PM ET (03:00 GMT), down 0.09%. Talks of a possible “phase one” deal between the […]
Oil jumps on Chinese factory growth, hopes for deeper OPEC cuts
By Ritu, Capital Sands Oil prices rose more than 1% on Monday as signs of rising manufacturing activity in China pointed to increasing fuel demand and hints that OPEC may deepen output cuts at its meeting this week indicated supply may tighten next year. Brent crude futures rose 74 cents, or 1.2%, to $61.23 a […]
USD/CHF Technical Analysis: Sellers focused on spinning top near multi-week high
By Ritu, Capital Sands USD/CHF declines after registering a bearish candlestick formation the previous day. Buyers look for sustained trading beyond 1.0000 psychological magnet. 200-day SMA can please sellers during further downside. USD/CHF drops to 0.9985 during the early trading session on Friday. That said, the pair formed a bearish “Spinning Top” candlestick formation while taking […]
Yen gains, Yuan falls as Hong Kong tensions muddy trade progress
By Ritu, Capital Sands The safe-haven yen rose against the dollar after U.S. President Donald Trump signed into law support for anti-government protesters in Hong Kong, which could complicate efforts to end the U.S.-China trade war. That caused the yuan to fall in offshore trade on mounting worries that months of often violent protest […]