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Gold rallied yesterday on comforting news coming out of Dubai, but it has pulled back in early trade today. Whilst the easing of the Dubai situation has helped, all eyes will be on the FOMC, who begin their two-day meeting today, and will announce their interest rate decision tomorrow evening. It has been one year [...]

Larger than expected stock piles are keeping the price of oil at the $70 level, having been in excess of $80 last month. API data release may give some indication of how tomorrows weekly inventory figures are going to come in at. Crude has now fallen on nine successive sessions, its’ longest losing streak in [...]

The dollar strengthened against the Euro and the Japanese Yen ahead of tomorrow’s Interest Rate decision, albeit it has fallen back in early trade. Relief that the Dubai and Greek debt situations have been clarified has in part added to confidence levels. The Dubai loan has tempered fears over further sovereign debt defaults. Commenting on [...]

RBA Minutes Weigh On AUD The USD is largely unchanged from yesterday – unsurprising given the lack of scheduled economic releases during the US session and absence of any market moving speakers or new headlines overnight. Equity markets across Asia are mixed; although the Nikkei, Hang Seng and Shanghai Composite are heading for a lower [...]

COMMODITIES – Crops Power Commods Higher Despite Weaker Oil * White sugar hits record high above $650/tonne in London * Soybeans, corn and wheat rally in Chicago * Run-up in crops help CRB index rise despite weaker oil NEW YORK, Dec 14 (Reuters) – Sugar hit record highs on Monday and other crops such as [...]

The Dollar Consolidates After Friday’s Gains It has been a day of consolidation across FX markets after Friday’s stunning USD rally; with most pairs trading sideways during the European and early US session. Most currencies regained a small portion of Friday’s losses vs. the USD; leaving the DXY down around 0.25% on the day (EURUSD [...]