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The minutes released from the last Fed meeting showed policy makers viewed the decline in the Dollar as “orderly” and reinforced the belief that interest rates would remain low for the time being. Whilst members believed that the US economy was improving, rates would stay at near zero well in to 2010. The Dollar Index [...]

The gold rally gained more momentum, fuelled by reports in the Financial Chronicle that India’s Central Bank may be buying even more gold. Having bought 200 tonnes of gold for $6.7bn in early November, there is market speculation that the Indians may be looking to buy another 201.3 tonnes of gold on offer from the [...]

The price of oil has fallen 7% off recent highs, as signs of the economy improving lessened. Yesterdays revised GDP figure, down to 2.8% from 3.5%, dampened hopes of an immediate recovery. The month chart shows that we are at the bottom of the recent range, so investors will be keen to eye the weekly [...]

European Session: Risk Sentiment and Gold Comes Roaring Back Risk appetite came back in a big way during the Asian session, as events in the US session were supportive of long risk positions. The FOMC minutes really contained no surprises, but stayed dovish despite going divergence among members. The minutes also addressed the USD decline, [...]

COMMODITIES – Down After Softer US GDP Outlook And Weaker Euro * CRB at 1-wk low as investors trim risk on US Q3 outlook * Crude oil finishes 2 pct down, copper half pct * Wheat, corn slide 3-4 pct, partly on weak exports demand * Gold bucks trend with slightly higher finish NEW YORK, [...]

US Session: The Dollar Trades Sideways Ahead of FOMC Minutes FX markets have traded sideways today; as the morning bout of risk aversion on the back of weaker Asian equities soon gave way to risk appetite when European equities began recouping opening losses. We had a slew of data releases out of Europe in the [...]