Find out about the most important market movers from today's digest!
Gold dives in Asia on stronger greenback and poor China demand
On Tuesday, gold sank in Asia because overnight greenback revenues extended into the region, thus making the dollar-denominated commodity less affordable, and with dismal demand as China markets are unavailable for a week-long holiday.
December delivery gold futures lost 0.21% in New York trading at $1,273.15 a troy ounce.
In Asia, the dollar index went up 0.22% reaching 93.69.
Overnight, gold slid to seven week minimums amid a sag in safe-haven demand after manufacturing data topped hopes pushing yields as well as the US currency to session maximums.
This week the number one precious commodity contributed to losses from last week because market participants kept unwinding their bullish bets on gold after positive manufacturing reports pointed to underlying strength in the American economy.
Net bullish bets on gold went down to 212,600, as the Commodity Futures Trading Commission reported on Friday.
In November, UK factory orders managed to recover, although previously in October they sagged steeply…
What are the main topics, which drive the key currency pairs today? Is there a chance for oil to recover? Find out from the news!
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…