Trading news

The Precious Metal Rise

The greenback fell yesterday, negatively affected by Trump’s first formal press conference since winning the presidency in November. Trump said, he would resign from all positions linked to the Trump organisation, this move however saw a lot of people saying it was not enough to remove conflict of interest in the White House. On the other hand, Donald Trump accused the U.S. intelligence of leaking 'fake' news about his relationship with Russia. In addition, Trump acknowledged that Russia and China were behind hacking activities during the 2016 presidential election.

The Greenback declined as Trump disappointed investors who wait for clear signals about the US economic outlook.

The U.S. dollar index fell as much as 0.25%, to settle at 101.75 pips.

Gold prices rose by 0.5%, to settle above $1,190, boosted by weak USD. Technically, the yellow metal could settle at its current levels and hit the psychological level of $1,200.

Elsewhere, the U.S. bond yields declined yesterday, negatively affected by trump’s first formal press conference amid uncertainty over how the new U.S. presidential administration will execute plans for the U.S. economic growth

USD declined vs. JPY and settled at ¥115.50. Technically, it could fall to the psychological level of ¥115.

EUR and GBP recovered yesterday vs. USD, positively affected by a weak USD.

Oil prices rose as much as 2.5% yesterday, on news that Saudi Arabia cut exports to Asia. U.S. crude rose to $52.50, although the U.S. crude inventories rose by 4.1 million barrels last week, unlike the expectations for an increase of 1.2 barrels. Technically, the U.S. crude could fluctuate more during the next period, due to conflicting news about the oil deal cut.

The most important economic events:

USD Monthly Budget Statement (DEC): (GMT: 21:00) – medium – Forecast (-$25.0b) – Previous (-$136.7b).

The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

Thursday, 12 Jan, 2017 / 1:58

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source :

Trading news


2020 Olympics & The Japanese Economy

With the 2020 Olympics kicking off after a year-long delay, just how much of a [...]

Posted on Friday, 23 Jul, 2021 / 1:30 under

Fed, Inflation, And The Housing Bubble

Yesterday, the US’ second-largest homebuilder, D.R. Horton, announced [...]

Posted on Friday, 23 Jul, 2021 / 1:28 under

Stormy week ends with US stocks at record highs

  Nasdaq 100 closes at new record as investors warm up to tech [...]

Posted on Friday, 23 Jul, 2021 / 9:25 under