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Gold futures set for a third consecutive monthly decline on Fed tapering speculations

November 29, 2013 10:02 am
Gold gained on Friday, but is headed for a third monthly decline after overall upbeat data from the U.S. reinforced speculations for an earlier-than-expected reduction in Feds monetary stimulus. Assets in the SPDR Gold Trust, the biggest bullion-backed ETF, remained at the lowest since January 2009, adding to bearish sentiment. However, strong Chinese physical demand […] Read more

USD/KRW edges higher on concerns South Korean exporters are losing competitiveness against Japanese rivals

November 28, 2013 3:05 pm
The South Korean won ontinued its downward trend, after having touched a two-week low on Wednesday on concerns that South Korean exporters were losing competitiveness against Japanese rivals as the yen drops. Government bonds also fell. USD/KRW reached a session high at 1 064.80 during late Asian trade, which is slightly lower than yesterdays two-week […] Read more

GBP/USD trades in proximity to ten-month highs on Carney’s testimony

November 28, 2013 1:27 pm
The sterling advanced for a third consecutive day versus the US dollar, touching the highest 10-month level on Mark Carneys testimony. GBP/USD reached a session high at 1.6353 at 11:20 GMT, which is the highest level since January 2nd. Support was likely to be encountered at November 27th low, 1.6198, while resistance was to be […] Read more

AUD/USD edges higher after the release of Australian Bureau of Statistics report

November 28, 2013 10:26 am
The Aussie advanced against its US counterpart on Thursday, after an increase in the Australian private sectors expenditures. AUD/USD hit a session high at 0.9150 at 10:15 GMT, gaining 0.75% on a daily basis. Support for the pair was likely to be met at November 27th low, 0.9066, while resistance was to be encountered at […] Read more

Natural gas futures hit 6-month high on EIA report, East Coast storm

November 28, 2013 8:56 am
Natural gas hit the highest level since June as the Energy Information Administration reported that U.S. gas inventories fell in line with expectations last week, indicating robust demand during the winter heating season. Forecasts for below-normal-temperatures further supported the market. On the New York Mercantile Exchange, natural gas futures for settlement in January traded at […] Read more

EUR/JPY soars to 4-year highs on German coalition deal, Gfk Consumer index

November 27, 2013 3:19 pm
Euro rose to highs unseen in 4 years against the Japanese yen, on German coalition deal and improved consumer confidence in Germany, according to a survey by Gfk Consumer research group. EUR/USD reached a session high at 138.65 at 14:40 GMT, gaining 0.86% on a daily basis. This is the highest level since August 2009. […] Read more

Natural gas futures swing ahead of EIA report, freezing cold weather forecasts

November 27, 2013 1:39 pm
US natural gas swung between gains and losses on Wednesday ahead of EIAs weekly US storage report as weather forecasts pointed to freezing cold temperatures, well below average. On the New York Mercantile Exchange, natural gas for delivery in January plunged to $3.844 per million British thermal units by 13:30 GMT, down 0.53% on a […] Read more

GBP/USD soars to 10-month highs on UK GDP report

November 27, 2013 10:54 am
British pound rose to highs unseen in ten months against the US dollar, after the Office for National Statistics (ONS) reported that the GDP in the United Kingdom has been driven mostly by consumer spending in the third quarter of the year. GBP/USD reached a session high at 1.6295 at 10:15 GMT, which is the […] Read more

Gold futures continue the upward trend amid increased China demand

November 27, 2013 9:49 am
Gold futures surged for a second day as investors weighed increased demand from China against expectations for an earlier-than-expected deceleration of Feds quantitative easing program following Tuesdays upbeat housing data. On the Comex division of the New York Mercantile Exchange, gold futures for settlement in February rose to $1 247.00 per troy ounce by 9:41 […] Read more