Gold Stuck In Neutral Ahead Of Jackson Hole Retreat

Gold futures were slightly higher Wednesday, holding near recent 11-week highs ahead of the upcoming central bankers fishing camp in Wyoming. Speeches from Fed Chair Janet Yellen and European Central Bank president will be given close attention for clues about interest rates. December gold rose $3.70, or 0.3%, to settle at $1,294.70 an ounce, taking Read more about Gold Stuck In Neutral Ahead Of Jackson Hole Retreat[…]






Crude Oil Rallies Above $48 After EIA Report

Crude oil prices rose Wednesday after the government said crude oil prices dropped for the eighth consecutive week. U.S. crude-oil inventories were down 3.3 million barrels last week, the Energy Information Administration reported. That’s in line with yesterday’s report from the American Petroleum Institute. Gasoline supplies fell by 1.2 million barrels. WTI light sweet crude Read more about Crude Oil Rallies Above $48 After EIA Report[…]






Iceland CB Holds Rate Unchanged, Slashes Growth Forecast

Iceland’s central bank left its key interest rate unchanged on Wednesday after keeping trimming it in June, and cut its economic growth forecasts. The Monetary Policy Committee of the Sedlabanki left the rate on seven-day term deposits at 4.5 percent. The rate was cut by 25 basis points each in May and June. “The outlook Read more about Iceland CB Holds Rate Unchanged, Slashes Growth Forecast[…]






U.S. New Home Sales Unexpectedly Plunge 9.4% In July

New home sales in the U.S. unexpectedly saw a substantial decrease in the month of July, according to a report released by the Commerce Department on Wednesday. The report said new home sales plunged by 9.4 percent to an annual rate of 571,000 in July from the revised June rate of 630,000. The steep drop Read more about U.S. New Home Sales Unexpectedly Plunge 9.4% In July[…]






Euro Mixed After Eurozone Consumer Confidence Index

At 10:00 am ET Wednesday, Eurostat has released Eurozone consumer confidence index for August. Following the data, the euro traded mixed against its major opponents. While the euro rose further against the pound and the greenback, it changed little against the yen and the franc. The euro was worth 1.1804 against the greenback, 128.76 against Read more about Euro Mixed After Eurozone Consumer Confidence Index[…]






Analysis of GBP/USD for August 23, 2017

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2792. According to the 30M time frame, I found that resistance at 1.2810 is on the test and my advice is to watch for potential selling opportunities. The Stochastic oscilator is showing overbought conditions, which is another sign of weakness. My Read more about Analysis of GBP/USD for August 23, 2017[…]