|Day's range||1,456.40 - 1,467.90|
Natural gas markets have gone back and forth during the trading session on Wednesday, hovering just above a major moving average as we essentially tread water while temperatures in the United States plummet.
The British pound has pulled back significantly during the trading session on Wednesday, reaching towards the bottom of the overall consolidation area that we have been in.
Investing.com – For a second day in a row, there’s less-than-comforting news about a U.S.-China trade deal and gold is soaring once again from a push higher by those long the yellow metal and awaiting such somber news.
Investing.com – Clinging to the rosy economic thesis of the Fed and OPEC’s about-turn that it suddenly saw no recession ahead, oil bulls pushed crude prices higher on Wednesday even as U.S. production is expected to hit a new record this month.
Crude oil inventories were forecast to have risen for a third straight week last week, while refined products inventories likely declined, a preliminary Reuters poll showed on Tuesday.
Asian stocks are trading lower, despite their US counterparts tantalisingly close to setting new record highs, as investors continue sieving through potential signals from the noise surrounding the highly anticipated US-China trade deal.
Investing.com - Oil prices were lower on Wednesday as renewed concerns over prospects for a U.S.-China trade deal weighed on the outlook for the global economy and energy demand.
The market remains long on optimism and short on the critical trade concessions but overall no worse for the wear as investors go through their daily ritual of RoRo (risk-on -risk-off)
With the USD/JPY trading between retracement levels, the next move will be determined by short-term momentum. Fundamentally, this Forex pair isn’t likely to move much until Treasury yields move. Wednesday’s U.S. consumer inflation report and testimony from Federal Reserve Chairman Powell could move yields.
Based on the early price action in reaction to the RBNZ decision, the direction of the NZD/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the intermediate 50% level at .6396.
Based on the price action late in the session and the current price at 27639, the direction of the December E-mini Dow Jones Industrial Average futures contract into the close is likely to be determined by trader reaction to Monday’s close at 27658.
The trade war appears to be the only variable that will impact the price of oil in today’s market, which means all eyes will be on Trump’s upcoming speech in New York
Silver markets initially tried to rally during the trading session on Tuesday but found enough resistance to turn around and fall towards the 200 day EMA, a very important level.
Crude oil markets did very little in the way of action during the trading session on Tuesday, as they continue to consolidate in the middle of the larger rectangle that they are both in.
Gold markets pulled back a bit during the trading session on Tuesday to test the $1450 level for support. So far, it has in fact found support there, but if it gives that level up it’s likely that the 200 day EMA will be next.
Mobile crypto wallet and investment app Abra is adding a host of new coins and doubling its U.S. bank deposit limits for U.S. customers.
The GBP/USD made a strong bullish bounce at the 144 ema close, which could indicate the completion of a bearish ABC (orange) correction and a potential restart of the uptrend.
(Bloomberg) -- China’s Generation Z may be willing to spend more on luxury goods, but they’re not as keen on gold as their older compatriots.That’s according to survey by the World Gold Council, which showed just 12% of those aged 18 to 22 intend to buy gold jewelry in the coming year, much less than the millennial generation and people over 39. Their emotional connection with gold jewelry also “seems particularly weak” compared with other countries, the council said.The changing tastes among China’s young adults may signal a warning for the gold industry, which counts China as its biggest buyer. There are already signs that global gold demand has recently been driven more by exchange-traded fund investors than jewelry purchases.“It is undoubtedly a challenge for China’s jewelry industry to engage with the younger generation,” said Alistair Hewitt, director of market intelligence at the council. China’s young consumers may be distancing themselves from gold because it has long been associated with older generations, though their views may change as they grow older, he said.The difference in gold tastes between different generations in No. 2 buyer India isn’t as pronounced as in China. Gold jewelry attitudes are also more consistent among different age groups in the U.S., the survey showed.One bright spot for gold is its reputation as a store of value. While young adults want quick returns and are eager to take risks through investments like cryptocurrencies, they generally trust gold as way of preserving wealth over the longer term, the council said. The metal remains the third-most popular investment globally, behind savings accounts and life insurance.Even so, there are big differences in consumer appetite for gold around the world, with interest in China and India much stronger than countries like Germany or Canada, the survey showed. The survey questioned 18,000 consumers across six countries.To contact the reporter on this story: Elena Mazneva in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Thomasson at email@example.com, Nicholas Larkin, Dylan GriffithsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The direction of the December Comex gold futures contract on Tuesday is likely to be determined by trader reaction to Monday’s close at $1457.10.
Investing.com - U.S. futures were slightly higher on Tuesday as investors waited for a keynote speech from U.S. President Donald Trump that's likely to include comments on trade policy with regard to both China and Europe.