gold Archives - The Industry Spread

Gold and Bitcoin Under Pressure, US Dollar Strong 

November 8, 2019

Asian equity indices ended mixed for one more day today as equities were supported by news that China and the USA have agreed to cancel tariffs on each other’s goods as part of the first phase of a trade deal. Meeting between U.S. President Trump and Chinese President Xi Jinping to sign an interim deal could be delayed until December as discussions continue over terms.

Gold Drops Below $1,500, Asian Equities Mixed

November 6, 2019

Asian equity indices ended mixed today on upbeat earnings results, and improved sentiment as investors digest the 25 basis point to 1.50%-1.75% from Fed. Yesterday, the US ISM Non-Manufacturing PMI registered at 54.7 topping expectations of 53.5 in October and despite JOLTS Job Openings came in at 7.024M below expectations of 7.028M in September.

Asian Equities Higher, Gold Consolidates Above $1,500 

November 4, 2019

Asian equity indices ended higher today, mirroring Wall Street Friday’s gains as investors digest the 25 basis point to 1.50%-1.75% from the Fed. The U.S non-farm payrolls rose by better than expected 128,000 for October compared to expectations for an increase of 89,000. GDP for Q3 expanded at a 1.9%, slowing from 2% in the Q2 but came in above market forecasts for growth of 1.6%. 

Gold Higher on Renewed Trade Worries, AUDUSD at Three Month Highs

November 1, 2019

Asian equity indices ended mixed today as investors digest the 25 basis point to 1.50%-1.75% from Fed as widely expected by the markets, and signalled that will not proceed with further cuts to see whether these easing steps are enough to sustain the economic growth. U.S. GDP for Q3 expanded at a 1.9%, slowing from 2% in the Q2 but came in above market forecasts for growth of 1.6%.

Gold Under Pressure, Bitcoin Consolidates Around $9,400

October 29, 2019

Asian equity indices ended mixed today as traders increased their bets the Fed will cut interest rates by 25 bps at its meeting tomorrow to protect the economy from slowing growth and the effects of the trade tensions. The market is pricing a 94.5% chance of a 25 bps interest rate cut to a 1.50%-1.75% range from the current 1.75%-2%.

Gold Breaks Above 1,500, GPUSD Under Pressure

October 25, 2019

Asian equity indices ended mixed today after the ECB left interest rates unchanged as expected and while investors await that the Fed will cut interest rates by 25 bps next week.

Investors increased their bets the Fed will cut interest rates by 25 bp at its next meeting on October to protect the economy from slowing growth and the effects of the trade tensions.

AUDUSD at Monthly High, Gold Under Pressure

October 19, 2019

Asian Indices ended mixed today as investors turn cautious amid confusing headlines around the Brexit deal. Meanwhile, doubts emerged about the US and China partial trade deal. China wants to proceed with further discussions before signing the phase one trade deal.

European Equities Started Lower, Gold Below 1,500

October 8, 2019

Nikkei 225 benchmark in Tokyo ended 1.02% higher at 21,591, recovering from losses yesterday as investors turn their attention to the latest US non-farm payrolls report. Traders increased their bets that the Fed will slash interest rates at its next meeting on October to protect the economy from slowing growth abroad and the effects of the trade war. The Hang Seng index is trading 1.11% lower 25,821. The ASX 200 in Australia is trading 0.37% higher at 6,517.