Silver Support levels broken, looking to 19.20

Silver Prices Range Bound as US Dollar Recovers

Silver Prices Range Bound as US Dollar Recovers

Silver

  • Buz Investors Silver Prices Range Bound The precious metal is trading at $16.81 per ounce at 10:40 GMT this morning, 0.12% lower from the New York close.
  • During the session, silver traded at a high of $16.89 per ounce and a low of $16.79 per ounce. In the New York session yesterday, silver rose 1.14% and closed at $16.83 per ounce.
  • Immediate downside, the first support level is seen at $16.62 per ounce, while on the upside, the first resistance level is at $16.97 per ounce.

Silver Prices Range Bound

Buz Investors Silver Prices Range Bound The precious metal is trading at $16.81 per ounce at 10:40 GMT this morning, 0.12% lower from the New York close. During the session, silver traded at a high of $16.89 per ounce and a low of $16.79 per ounce. In the New York

Silver Prices Range Bound  Silver prices traded slightly lower on Wednesday, as a rebounding US dollar softened demand for precious metals ahead of Donald Trump’s first news conference since being elected US President.

The March contract for silver slipped 3 cents, or 0.2%, to $16.82 a troy ounce at 6:58 am ET. Prices traded within a narrow range of $16.78 – $16.89 through the overnight session.

 

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Silver Prices Range Bound

 

Silver is up 1.8% for the week and has recovered more than 5% since the start of the year. The grey metal has retraced most of the losses incurred after the Federal Reserve’s decision to raise interest rates on December 14.

February gold futures climbed $4.30, or 0.4%, to $1,189.90 a troy ounce, a new six-week high. The yellow metal was on pace for its third consecutive gain and sixth since the new year.

Later this morning, US President-elect Donald Trump will hold his first news conference since the November 8 election, where he is expected to discuss his transition to the White House. Market participants will be closely monitoring the event for clues about fiscal policies. The news conference is scheduled to begin at 11:00 am ET.

Commodities ( Gold ) ( Silver ) ( Lithium )




Euro spikes above $1.06 in thin trade; Dollar recovers above 117 yen

Euro spikes above $1.06 in thin trade; Dollar recovers above 117 yen

Euro spikes above $1.06 in thin trade; Dollar recovers above 117 yen

Euro spikes above $1.06 in thin trade; Dollar recovers above 117 yen

Euro spikes Major pairs were hit by volatility on Friday as ultra-thin volumes on 2016’s last trading day triggered some sharp moves. The euro spiked up to 1.0652 dollars in early Asian trading in a move that was triggered by an illiquid market than by news. The jump had a knock-on effect on other crosses and the dollar briefly fell to a 2-week low of 116.04 yen.

Things settled later in the Asian session with the euro easing to around 1.0525 dollars. However, this was still the highest level for the euro since mid-December, and it was also firmer against the yen and the pound at 123.20 and 0.8565 respectively. The single currency stands to end the year almost 3% weaker against the dollar as diverging monetary policies between the Fed and the ECB and the prospect of political uncertainty in the Eurozone weigh on the euro.

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Euro spikes

The US currency was mixed today as it wasn’t able to match its gains against the yen with other currencies. Lower US treasury yields following another strong bond auction yesterday were unable to deter the greenback from climbing back above the 117 yen level, as it rebounded from its earlier dip. The Trump rally has seen the dollar recoup most of its losses against the yen and move closer to the 120 level where it began the year.

Sterling was attempting a second day of gains, having fallen to 2-month lows this week. The pound edged up to 1.2293 dollars in late Asian session and looks set to end the year with losses of 12% against the greenback. With the start of the Brexit negotiations looming in the coming months, 2017 could be another volatile year for sterling.

The Australian dollar jumped to a one-week high of 0.7246 versus the US dollar earlier in the session when volatility struck the markets. But the aussie later eased to 0.7218, which is 1% down from its 2016 open.

The New Zealand dollar meanwhile was last trading at 0.6952, and stands with gains of just under 2% for the year, having erased much of its advances since the US election. However, unlike the Australian dollar which is being weighed by the possibility of further easing by the RBA, the kiwi is slightly more bullish due to better growth prospects currently for New Zealand.

In commodities, gold continued to see year-end demand and hit a 2-week high of $1163 an ounce. Oil prices were mostly flat though following yesterday’s EIA inventory data which showed US crude stocks rose slightly last week instead of declining as expected. WTI oil futures were last trading at just under $54 a barrel.

The rest of day is looking extremely quiet with only the Chicago PMI out of the US likely to capture some attention, while low volumes could bring about further sharp spikes before trading closes for the year.

AUDUSD flirting with 2-month lows

AUDUSD Recovers From Key Support

AUDUSD Recovers From Key Support

AUDUSD

  • Buz Investors AUDUSD Recovers The Australian Dollar is trading at 0.7191 against the US Dollar at 10:40 GMT, 0.1% higher from the New York close.
  • This morning, the pair traded at a high of 0.7219 and a low of 0.7174. T
  • he AUD fell against the USD in the New York session yesterday, closing marginally higher at 0.7184. The pair is expected to its find support at 0.7170 and its first resistance at 0.7215.

AUDUSD Recovers

AUDUSD flirting with 2-month lows

AUDUSD Recovers  AUD/USD has bounced higher from an crucial support level on Monday and the healing is on course to result in a every day bullish engulfing candlestick. The Aussie leads the gainer’s list the various majors on Monday, trading higher nearly 1/2 a percent towards the dollar regardless of low volatility throughout most of the majors.

 

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AUDUSD Recovers

The volatility in the majors on Monday has been in the commodity currencies as most of the alternative majors have consolidated within tight levels. Commodity currencies had been under strain remaining week, declining towards the dollar in spite of a correction taking region within the change-weighted dollar index (DXY).

trading conditions were thin due to the bank vacation in maximum of the most important economies, aside from Japan.

help at zero.7565 had held AUD/USD better in past due may additionally, resulting in a rally that lasted till the us elections in early November. disadvantage momentum in AUD/USD has remained strong because the elections, however the modern region consists of the ability to cause a broader recuperation.

major currencies: (EUR-USD) (USD-JPY) (GBP-USD) (USD-CHF), (USD-CAD), (AUD-USD)




Oil recovers ground post-Fed

Oil recovers ground post-Fed

Oil recovers ground post-Fed

OIL

  • Buz Investors Oil recovers ground Oil prices fell on Thursday as the dollar rallied in the wake of a rise in U.S. interest rates, despite forecasts of a tighter oil market in 2017 due to planned output cuts.
  • The dollar hit a 14-year high against a basket of other currencies after the U.S. Federal Reserve raised rates for the first time in a year and hinted rates could rise faster than investors had anticipated in 2017.
  •  A stronger dollar, in which oil is traded, tends to hit demand for crude as it makes fuel purchases more expensive for users of other currencies.

 Oil recovers ground

Buz Investors Oil recovers ground Oil prices fell on Thursday as the dollar rallied in the wake of a rise in U.S. interest rates, despite forecasts of a tighter oil market in 2017 due to planned output cuts. The dollar hit a 14-year high against a basket of other currencies after the U.S. Federal Reserve raised rates for

Oil recovers ground The Organization of the Petroleum Exporting Countries and other producers led by Russia have promised to cut output by almost 1.8 million barrels per day (bpd) to try to clear global oversupply that has depressed prices for more than two years.

ANZ bank said on Thursday that oil markets would move into a substantial deficit in the first quarter of 2017 if OPEC and other producers reduced output as promised.

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Oil recovers ground

“This will likely push oil prices well above US$60 per barrel early next year,” ANZ analysts said in a note to clients.

Oil companies have slashed costs to survive the low price environment, industry data show.

“2017 will be the third year investments go down, with 3 per cent (declines). You need to go back to the ’80s to see three consecutive years of investment cuts,” said Audun Martinsen, vice president for Oilfield Service Research at Rystad Energy.

Commodities ( Gold ) ( Silver ) ( Lithium )




USDJPY Yen Steady Ahead of US Housing, Manufacturing Reports

USDJPY recovers in tandem with DXY & Nikkei

USDJPY recovers in tandem with DXY & Nikkei

USD=JPY

  • Buz Investors USDJPY recovers This morning, at 10:40 GMT, the US Dollar is trading at 112.25 against the Yen, 0.73%   lower from the New York close.
  • Investors will look forward to Japan’s unemployment rate, retail trade and large retailers’ sales data, due to release overnight. During the session,
  • the pair traded at a high of 113.08 and a low of 111.32. On Friday, the US Dollar traded 0.12% higher against the Yen in the New York session and ended at 113.08. The pair is expected to its find support at 111.28 and its first resistance at 113.26.

USDJPY recovers

USDJPY recovers

USDJPY recovers  The bulls were rescued by a quick rebound in the US dollar index amid improvement in risk sentiment, which lifted USD/JPY back towards 112 handle.

Having bottomed out near 111.40 levels post-China open, the dollar-yen pair retraced a part of today’s almost 200-pips sell-off, as risk sentiment improved somewhat amid recovery in oil prices as well as in the Asian equities.

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USDJPY recovers

The recovery in the USD/JPY pair also gained traction after the US dollar stalled its corrective slide and bounced higher against its major peers, having paid little heed to the sustained weakness in the US treasury yields.

The major is last seen exchanging hands at 111.90, still down -1.15%, while the Japanese Nikkei 225 index now drops -0.38% versus -0.84% seen previously, and the USD index (DXY) recovers to 101 handle from a dip to 100.68 levels.




USDJPY Yen Steady Ahead of US Housing, Manufacturing Reports

USDJPY Yen Falls on Weak Inflation but Recovers

USDJPY Yen Falls on Weak Inflation but Recovers

USD-JPY

  • Buz Investors Yen Falls on Weak Inflation This morning, at 10:40 GMT, the US Dollar is trading at 112.86 against the Yen, 0.38% lower from the New York close.
  • Overnight data showed that Japan’s national consumer price index rebounded on an annual basis in October. During the session,
  • the pair traded at a high of 113.89 and a low of 112.53. Yesterday, the US Dollar traded 0.16% higher against the Yen in the New York session and ended at 113.29. The pair is expected to its find support at 112.30 and its first resistance at 113.66.

Yen Falls on Weak Inflation

USDJPY Yen Steady Ahead of US Housing, Manufacturing Reports

Yen Falls on Weak Inflation The Japanese yen is showing volatility in the Friday session. USD/JPY climbed to a high of 113.90, but has retracted and dropped sharply. Currently, USD/JPY is trading at 112.70. On the release front, Tokyo Core CPI remained unchanged at -0.4%, matching the forecast. There are no major US events on the schedule.

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Yen Falls on Weak Inflation 

The Japanese yen remains under pressure, as USD/JPY continues to trade at its highest level since March. The dollar has surged about eight percent since November 7, just prior to the US election. The yen received no help from inflation indicators on Friday, as the economy continues to grapple with deflation. Tokyo Core CPI, the primary gauge of consumer inflation, which came in at -0.4% in the November report, has failed to post a gain in 2016. The BoJ has failed to kick-start inflation or boost growth, despite radical easing measures such as negative interest rates. Japanese policymakers have indicated that the government may resort to fiscal stimulus in order to increase economic growth. On Monday, we’ll get a look at Household Spending, a key indicator which has posted seven consecutive declines.

The Federal Reserve is poised to raise interest rates by a quarter-point in December, with the odds of a rate hike at 93 percent. The Fed minutes were released on Thursday, indicating that policymakers felt it appropriate to raise rates “relatively soon”. Some members argued that the Fed needs to raise rates in December in order to preserve the bank’s credibility – despite some broad hints of rate hikes during 2016, the Fed has stayed on the sidelines throughout 2016, causing significant disappointment and frustration in the markets.




AUDUSD flirting with 2-month lows

AUDUSD Recovers On Higher Commodities Prices

AUDUSD Recovers On Higher Commodities Prices

AUD-USD

  • Buz Traders AUDUSD Recovers  The pair is trading at 0.7398 at 10:40 GMT this morning, with the Australian Dollar trading 0.39% higher against US Dollar from the New York close.
  • This morning, the pair traded at a high of 0.7413 and a low of 0.7352. The Australian Dollar traded a tad lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7369.
  • In economic news, data indicated that Australia’s CB leading indicator rose in September. The pair is expected to its find support at 0.7354 and its first resistance at 0.7427.

AUDUSD Recovers

AUDUSD Recovers

AUDUSD Recovers  The Australian dollar edged higher on Tuesday as its U.S. counterpart consolidated after its recent rapid ascent, while gains in key commodity prices offered some fundamental support. Aiding the Aussie were gains in copper, coal and iron ore prices, all major export earners for Australia. Coal, in particular, has enjoyed huge gains in the last few months and promises to sharply shrink the country’s monthly trade deficit, if not eliminate it.

 

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AUDUSD Recovers

Reserve Bank of Australia Assistant Governor Christopher Kent said headwinds that were holding back Western Australia and Queensland were set to abate. In his opinion there are reasonable prospects for stronger growth of nominal demand in the mining states and, by extension, for the economy overall.

The upbeat comments were the latest sign the central bank is likely done easing policy for now, following cuts in August and May that took interest rates to a record low of 1.5%.

 




Gold price recovers slightly

Gold price recovers slightly

Gold price recovers slightly

Gold

  • Buz Traders Gold price recovers slightly  Gold is trading at $1319.90 per ounce at 09:40 GMT this morning, 0.08% higher from the New York close. Gold witnessed a high of $1322.60 per ounce and a low of $1316.80 per ounce during the session.
  • Gold fell in the New York session on Friday, closing 0.9% lower at $1318.80 per ounce, amid gains in global equity markets.
  • Immediate downside, the first support level is seen at $1313.43 per ounce, while on the upside, the first resistance level is at $1328.93 per ounce.

Gold price recovers slightly  edged higher on Monday

Gold price recovers slightly

Gold price recovers slightly Gold was in positive territory on Monday morning in London, recovering slightly after Friday’s drop.

The spot gold price was last at $1,315.75/1,316.05 per ounce, up $4.15 on the pre-weekend close. Trade has ranged from $1,314.15 to $1,319.65 so far.

The precious metal fell to as low as $1,311.95 in Friday’s session, its lowest since September 21, on news that Deutsche Bank was near a settlement with US regulators. Investors had previously moved into gold on fears that some of the German lender’s clients, including several big hedge funds, reportedly withdrew securities or cash on concerns about its stability and their exposure, MKS Group noted on Monday morning.

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“Strong bids around $1,310 should provide further support, however, a material move higher in equities could see $1,300 tested,” the broker said.

In the other metals, silver was last at $19.120/19.140 per ounce, little changed from the previous close. Platinum at $1,018/1,023 was $1 lower and palladium at $719/724 was up $3.50.

But a 0.9 percent rise in sterling gold prices after a drop in the pound to three-year lows versus the euro, and three-month lows against the dollar, prompted some British buyers of physical metal to cash in gains.

“We’re seeing some selling back, because obviously sterling has collapsed a bit, which has pushed the gold price up in sterling terms, which has seen people taking a profit and selling rather than buying,” one London-based gold dealer said.

Gold price recovers slightly

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USD/CHF is staying in range

USDCHF recovers to turn positive

USDCHF recovers to turn positive

USD-CHF

  • Buz Traders USDCHF recovers The US Dollar is trading at 0.9714 against the Swiss Franc at 09:40 GMT this morning, 0.1% higher from the New York close.
  • On the data front,
  • Switzerland’s UBS consumption indicator advanced in August from July. The pair traded at a high of 0.9736 and a low of 0.9693 this morning. Yesterday, the USD traded 0.02% higher against the CHF in the New York session and ended at 0.9704. The pair is expected to its find support at 0.9680 and its first resistance at 0.9742.

USDCHF recovers managed to hold and rebound

USD/CHF is staying in range

USDCHF recovers The pair is benefitting from investors’ move away from traditional safe-haven assets – like the Swiss Franc, after Hillary Clinton’s win at the first US presidential debate against her Republican opponent, Donald Trump, which led to a fresh wave of risk-on trade in global financial markets.

Next in focus would be the release of CB Consumer Confidence index from the US later during NA trading session, which might provide the required momentum and assist the pair to build on to its move above 0.9700 handle.

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USD/CHF is staying in range of 0.9648/9818 and intraday bias remains neutral at this point. Overall, price actions from 0.9443 are viewed as a consolidation pattern. Below 0.9648 will turn bias to the downside. Break of 0.9536 will extend the whole corrective decline from 1.0327 through 0.9443 low. Meanwhile, break of 0.9949/55 resistance zone is needed to confirm completion of the fall from 1.0327. Otherwise, outlook will stay mildly bearish.

In the bigger picture, no change in the view that choppy fall from 1.0327 is seen as a corrective move. Rejection from 0.9955 resistance suggests that it’s still in progress for another low below 0.9443. In that case, we’d expect strong support between 0.9072 and 0.9256 support to contain downside and finally bring reversal. Break of 0.9955 will target a test on 1.0327 high again.