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(Best Syndication News) Silver and gold prices recovered after closing lower in Thursday’s session while the dollar continued to outpace other currencies, including the yen and the euro (see forex and futures charts below). Capital markets are watching as European leaders march ahead with fiscal reforms early Friday in Brussels.
The United Kingdom is the odd-man out Friday as most European nations agree to a new treaty that would enforce changes to their fiscal rules. So far, stock markets in Europe are reacting positively to the new proposed pact.
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(Best Syndication News) The dollar gained against vs the euro but slipped vs the yen while gold and silver prices declined (see forex and futures tables below). Brent crude oil continued to fall while WTI advanced on Monday.
The Reserve Bank of Australia lowered their cash rate by 25 basis points to 4.25 percent Tuesday. The Aussie central bank cited moderating economic growth and the European crisis. Analysts may see the rate cut as bearish for the AUD.
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(Best Syndication News) The dollar gained broadly against other major currencies as stock markets closed higher in Asia (see forex tables below). The Hong Kong dollar and greenback climbed while the Swiss franc, pound, and Canadian dollars suffered.
The Australian Industry Group (AIG) reported Monday that although the service, manufacturing, and construction sectors are still contracting, there was some movement higher.
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(Best Syndication News) The dollar gained while silver and gold prices declined (see forex and futures tables below). Investors in equities, gold, and other commodities began to take profits after three day’s of advances.
Stocks in Asia and Europe are moving higher again Friday after declining Thursday. Investors in the United States were holding back before Friday’s jobs report.
An announcement by the Federal Reserve Wednesday helped instill confidence in gold and equity traders. A lowering of interest rates to foreign central banks will likely mean more money in the system.
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(Best Syndication News) Most commodities and stocks were higher today as the dollar dropped versus all major currencies (see forex and futures charts below). Confidence in more risky equities prompted interest in crude oil as the euro and commodity currencies rebounded.
The Federal Reserve, along with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank, announced a plan that would help free-up credit in Europe.
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