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Gold price slides back as dollar gains
January 20, 2010The spot rate gold price has dipped back to $1,122.10 per ounce thanks to the continuing resurgence of the dollar. The dollar has improved slowly but steadily in recent weeks as it becomes more likely the Fed will raise interest rates sometime in the next several months. Gold prices fell sharply in early morning New [...]
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Sterling gains on inflation data
January 19, 2010Sterling continues to be buoyed, especially against the Euro making new 4 month highs, after CPI data came in well above expectations at 2.9%. It now seems pretty much certain that the governor of the Bank of England, Mervyn King, will have to write to the Chancellor next month, especially with the re-imposition of the [...]
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Oil falls below $79 on strong dollar
January 15, 2010As the dollar has rebounded from some recently disappointing jobs news, it has pushed back against recent gains in oil prices and gold prices. A barrel of oil fell below $79 in Friday (January 15) morning trade on the New York Mercantile Exchange. Recent demand that has reduced US crude stockpiles pushed oil prices over [...]
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Dollar struggles again after latest job, housing news
January 13, 2010Exchange rates have not been favorable for the US dollar in the early part of the week as the greenback has been hit again following disappointing news of late on the job and housing sector fronts. A Euro is currently worth $1.4566, well above the $1.43 price point it entered the year with. The British [...]
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Time to punish the US Dollar
January 11, 2010As we mentioned early on Friday in our post before the NFP data, the Euro and Pound were holding critical support areas. After a release of data that fell way below expectations on payrolls it seems it’s time to punish the US Dollar once again. The downtrend which has been in place over the last [...]
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Gold price spikes as jobs disappoint
January 8, 2010Just when it appeared that the gold price was ready to reverse its long-running and fast-paced upward trend, speculators have begun to jump back in. After falling to a 60-day low of $1,080.50, the price of gold reached its highest point in just over a month at the close of New York trade on January [...]
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Euro and British Pound rates holding support against Dollar
January 8, 2010AM trading in Europe has seen the British Pound and Euro hold the support areas of the last week as we move into NFP day. The Euro is currently holding above 1.4280 and is looking likely to make a move up today towards US open. The Pound making stronger moves from a base of 1.5920 [...]