Dollar slides vs. yen, euro on growing views of U.S. easing
July 16 2012 1:10 PM EDT
The dollar fell to a one-month low against the yen on Monday after poor U.S. retail sales data last month bolstered expectations the Federal Reserve could launch another round of quantitative easing to boost a slowing economy.
Wall Street may face Libor legal threat from small banks
July 16 2012 1:09 PM EDT
The thousands of community banks have often said their much larger counterparts have trampled on them. Now some hope the latest Wall Street scandal could give them ammunition to strike back.
Banks reconsider Libor panels, RBS pulls out
July 16 2012 1:08 PM EDT
Banks weighed up the reputational risks from an opaque benchmarking system at the center of a global rate-rigging scandal as Royal Bank of Scotland pulled out of a Singapore panel setting interbank lending rates.
Barclays saw improving aggressive culture as critical
July 16 2012 1:07 PM EDT
The board of Barclays in February said improving a culture that was seen as too aggressive and resolving a difficult relationship with the UK regulator were critical to its future, according to minutes released of a board meeting.
European shares fall on weak U.S. retail sales data
July 16 2012 11:31 AM EDT
European shares briefly extended losses on Monday after U.S. retail sales fell for a third straight month in June, with the banks and commodity companies among the worst-performing sectors.
China large cap shares close at 6-mth low, Shanghai at 3-yr low
July 16 2012 11:29 AM EDT
China's large cap-focused share index closed at its lowest in six months while the Shanghai Composite index closed at its lowest in more than three years on Monday, hit by a fresh slew of profit warnings reflecting the impact of a slowing economy.
GOLD: Biased To The Downside Below Trendline Resistance
July 16 2012 3:55 AM EDT
While GOLD continues to hold below its medium term trendline, our outlook remains lower. This leaves risk towards the 1,527.05 level where a violation will resume its broader medium term weakness and then pave the way for further declines towards the 1,500.00 level.
Gold and Silver finish the week higher
July 14 2012 4:25 PM EDT
Gold and Silver finish the week higher. US Gold futures posted gains Friday, rising for the 1st time in 4 sessions after getting some support from a slide in the USD, and as data showed China's economy slowed in line with expectations in Q-2. Gold for Aug delivery rose 26.70 or 1.7%, to finish at 1,592 oz on the Comex division of the New York Merc Friday, Gold's best finish in about a week.
Gold Bulls are Back
July 13 2012 12:35 PM EDT
Gold Bulls are Back and Charging. It look like now is the time to own Gold, ssentiment is negative, there is a signal of the renewal of the up-trend. Based on Gold's history, and the prevailing conditions my works augurs for big gains over the next several months. Investors want to own Gold in a Bull market.
Oil up above $102 after China GDP data
July 13 2012 9:38 AM EDT
Oil prices rose above $102 on Friday after Chinese GDP data came in slightly better than expected, improving sentiment across the board in commodities, and the United States ramped up pressure on Iran's ability to export oil.
JPMorgan trader London Whale leaves: source
July 13 2012 9:37 AM EDT
Bruno Iksil, the JPMorgan Chase & Co (JPM.N) trader known as the London Whale, has left the bank, a person familiar with the situation said, in the wake of a trading scandal likely to have cost JPMorgan between $4 billion and $6 billion.
U.S. producer prices edge up in June
July 13 2012 9:36 AM EDT
U.S. producer prices rose only slightly in June as energy costs dropped, suggesting inflation pressures remain muted and leaving the door open for more easing by the Federal Reserve.
China data helps European shares bounce, earnings eyed
July 13 2012 9:35 AM EDT
European shares took back the previous day's losses on Friday as China growth data proved better than had been feared although the overall mood among investors remained cautious as the second quarter earnings season crept into focus.
Gold is Doing its Job
July 13 2012 3:43 AM EDT
Lear Capital - Where's the gold price headed from here? For 8 months the gold price has held strong against multiple attempts to drive the price below various levels of support. Each time its nose dives toward the next level of support, (currently $1559 an ounce) buyers race in.
GOLD: Weakness Consistent With Its Broader Medium Downside Bias
July 13 2012 3:42 AM EDT
With GOLD weak and vulnerable, further declines is likely towards the 1,546/41 levels. A cut through here will turn attention to the 1,527 level, its May 2012 low. While the 1,640/24 levels continue to hold as resistance levels, the above view remains valid. Below the 1,527 level will resume its broader medium term weakness and then pave the way for further declines towards the 1,500.00 level.
What the GLD ETF Chart tells us about GOLD
July 13 2012 3:25 AM EDT
Gold had remained in a rough 1550-1640 range for several weeks now. Tonight, we look at the GLD ETF, which represents the Gold spot price movements. Over the past 5 months we can see in the chart below the clear downtrend lines.
Forex - XAU/USD (Gold) Technical Analysis
July 12 2012 4:26 AM EDT
The pair XAU/USD (Gold) is moving above the upper band of its bearish channel (purple lines). The gold just found support on 1550 points and is currently trying to rebound on 1580 points as resistance.
Gold Cycles Will Soon Forecast Where Prices Are Headed
July 12 2012 3:21 AM EDT
Gold and stock market forecaster have been using cycles in price that repeat every certain amount of trading days to help them spot key reversal areas in the financial market. Almost everything in life seems to go in cycles and commodity prices and the stock market are no different.
Spanish deal lifts shares, euro steady
July 10 2012 9:20 AM EDT
World shares inched up on Tuesday after euro zone finance ministers made limited progress on measures to help embattled Spain, but evidence of a sharp slowdown in China sent oil and industrial commodities lower.
Norway intervenes to avert oil industry closure
July 10 2012 9:19 AM EDT
Norway's government ordered on Monday a last-minute settlement in a dispute between striking oil workers and employers in a move to alleviate market fears over a full closure of its oil industry and a steep cut in Europe's supplies.