EUR/USD is trading at 1.3809 down over 180 points in just two days since the ECB meeting decision and Mr. Draghi’s press conference. The US dollar continues to recover as global tensions ease.
AUD/USD is trading at 0.9362 remaining strong even as the US dollar continues to climb back towards the 80 level. The Aussie is trading flat this morning making little of the business confidence release as traders are expecting comments from the RBA about the strength of the AUD.
GBP/USD declined to 1.6904 today after petering out on Thursday unable to break the resistance at 1.70. The British pound (GBP) has recently traded to 4½ year-highs near the GBP/USD 1.70 mark, supported by a robust economic backdrop, supportive capital inflows and a central bank that is likely to initiate a rate hiking cycle before its European and North American peers. Traders can expect the GBP to gradually depreciate against the USD once monetary policy is tightened and output growth begins to soften in 2015.
Gold moved between small gains and losses up by $3 at 1290.90 at this writing. “Precious metals have been extremely quiet this morning, holding tight ranges,” said William Adams, head of research at FastMarkets.com. “The gold price continues to oscillate sideways either side of $1,290 an ounce — for now we would expect more of the same.” Gold could benefit from some technically-driven buying said Robin Bhar, head of metals research at Societe Generale.
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AUD/USD Remains Strong; Gold Moved Between Gains And Losses
Published 05/12/2014, 12:18 AM
Updated 04/25/2018, 04:40 AM
AUD/USD Remains Strong; Gold Moved Between Gains And Losses
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