The heavily bearish sentiment for gold continued to remain firmly in place once again last week, as the precious metal continues its stately progress ever lower, following the cataclysmic candle of the 9th November, when ultra high volume confirmed the heavy selling.
For obvious reasons, all the focus is on the OPEC meeting. As we pointed out the possibility yesterday, oil prices have bounced back very strongly today on renewed hopes that oil ministers will, after all, be able to hammer out a deal later on to limit crude production.
After months of uncertainty and speculation you would think there will be some clarity about the crude oil situation just days ahead of Wednesday’s OPEC meeting. Well, you would be wrong. In fact, very wrong.
Black Friday means financial markets will close earlier than usual today, but don’t despair as there is a lot to look forward to next week.
China’s economic growth may continue to slow in 2017 to 6.5 percent before possibly bottoming out in 2018, a new report showed Monday.
It is safe to say that markets don’t like uncertainty but this is on another level. Fears that Donald Trump was going to win the election saw risk-sensitive assets drop faster than Hillary Clinton’s hopes of becoming the next US President overnight.
The AUDUSD pair initially fell on Monday but then found buyers to push the market higher.
Most analysts seem to agree with the markets that a victory for Hillary Clinton in the US presidential race is good news for the dollar, stocks and risk assets in general.
Samgsung Electronics Co Ltd said yesterday it would launch an artificial intelligence digital assistant service for its upcoming Galaxy S8 smartphone, seeking to rebound from the Galaxy Note 7’s collapse and differentiate its devices.
The Australian dollar initially fell during the day on Wednesday, but turned around to form a relatively supportive looking candle.
