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European Session: No Mention of FX in G20 Communiqué The G20 communiqué released over the weekend didn’t mention FX, which cleared the way for risk appetite to surge. Asian regional equity indexes moved higher, with Hang Sang up 1.14%. Spot Gold surged to $1108.40 today, EURUSD followed up to 1.4986 and GBPUSD hit 1.6801. The [...]

Gold climbed to record highs as the US dollar fell against some of the majors. In addition to dollar weakness, concerns about the health of the global economy sees investors move monies in to the perceived ‘safe haven’. The highly traded December contract traded over the $1,100 level following release of the non farms on [...]

Oil prices traded higher following news that Hurricane Ida threatened oil installations in New Mexico. Ida is the first major Atlantic hurricane of the year, and is scheduled to make landfall on Tuesday. This has helped reverse Fridays slump following the release of the non-farms. A dismal jobs report heightened concerns that the global economic [...]

The G20 finance ministers and central bankers met over the weekend in Scotland, agreeing to keep the stimulus measures in place until the global economy strengthens. Comments from the IMF intimated that traders are probably using the dollar to fund the carry trade and it may still be overvalued. EUR/USD range 1.4853-1.4943. Market started with [...]

PRECIOUS – Gold Surges To Record After Weak U.S. Jobs Data * Weak U.S. jobs report leads investors to seek safety * Central banks said to be lining up to buy gold * Other precious metals slip with industrial metals NEW YORK/LONDON, Nov 6 (Reuters) – Gold surged to a record high above $1,100 an [...]

COMMODITIES – Gold At Record High, Others Down On US Jobs Scare * Gold hits 3rd record in week as U.S. jobs disappoint * RJ/CRB index at 10-day low as other commods markets fall NEW YORK, Nov 6 (Reuters) – Commodities fell broadly on Friday on demand worries as U.S. unemployment hit double digits for [...]