Aussie Jolted By US/China Trade Tensions
The Australian dollar and the S&P/ASX 200 stock index were shaken after White House trade adviser and outspoken China critic Peter Navarro said the trade deal between Washington and Beijing was “over”.
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Gold Consolidates as Coronavirus Fears Endure
Gold prices inched higher in early trading on Thursday, as an increase in coronavirus cases threatened to derail economic recovery from the pandemic. A more dovish than expected June FOMC meeting has also bouyed the yellow metal.
GBP/USD Underpinned By Optimism Over Trade Talks, Rebound in Equities
Risk appetite returned to the market on early on Tuesday as the US Federal Reserve prepared to begin purchasing up to $250 billion in individual corporate bonds. In addition, a report from Bloomberg stating that the Trump administration is preparing a nearly $1 trillion infrastructure proposal helped to lift investors spirits.
Greenback Gains Against Comdolls As Risk Sentiment Dampens
The US dollar advanced against risk-sensitive currencies including the Australian dollar, New Zealand dollar and Canadian dollar in early trading on Thursday. The move came after a gloomy economic forecast from the Fed and reports of rising coronavirus cases in the US.
Gold Advances Ahead of FOMC Meeting
Gold edged higher in early Tuesday trading, lifted by a weaker US dollar as investors eye the Federal Reserve meeting set to conclude on Wednesday. Meanwhile, inceased risk appetite and robust equity markets threaten to keep a lid on the yellow metal’s price.
Gold Consolidates After Bruising Wednesday Session
Gold prices fell by 2% on Wednesday as stocks rallied on hopes of a faster than expected recovery from the fallout of the coronavirus pandemic. Meanwhile, investors shrugged of the historic civil unrest in the United States and US/China trade tensions.
US Dollar Softens Amid Risk-On Sentiment
The US dollar index closed lower for a fifth consecutive day on Monday as hopes of a faster than expected global economic recovery from the COVID-19 pandemic took hold. Markets remained steady despite widespread civil unrest in the United States due to the death of George Floyd and ongoing US/China trade tensions.
Sterling Traders Brace for Volatile Month Ahead
The British Pound weakened against its major rivals on Wednesday amid reports that Brexit talks are stalling and as the specter of a ‘no-deal’ Brexit reared its head again.