Gold and silver futures were trading lower Tuesday afternoon despite a division amongst the Federal Open Market Committee members over the future of the U.S. economy after the FOMC minutes from its last meeting in March were released.
The minutes of the Federal Reserve's Monetary Committee meeting from March 18th show U.S. Central Bank Board members were divided over an economic contraction or inflation risks.
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Australian employment data is expected to show signs of deterioration during the month of March, as the net employment change is forecasted to rise by only 10,000 while the unemployment rate is anticipated to tick up to 4.1 percent. Previously,
Mainly the dollar has managed to acquire back some strength especially as the focus this week is on other central bank's to take the stand, while today's FOMC Minutes are not expected to be of great impact since Mr. Bernanke's
In currencies, the price action was tempered following the aggressive GBP sell-off during the European morning. The pound remains heavy against the majors after UK Prime Minister Brown noted that the BoE can afford to lower interest rates due to
Traders are closely awaiting the release of the Federal Open Market Committee's minutes from its most recent policymaking meeting. Most Fed-watchers expect the minutes will evidence concern with the ongoing liquidity and housing crises but will evidence some dissent about
The US dollar rose against a basket of currencies amid growing speculation that a sharp economic downturn in the United States could spread to other countries and prompt their central banks to cut interest rates. Speculation also grew that minutes
The momentum in the Canadian housing market has yet to fade, as housing starts outpaced expectations by a large margin. While consensus estimates pointed to a fall in housing starts to about 222,000 units on a seasonally adjusted basis, March
Though the Federal Reserve was already considered dovish, the minutes from the March 18th decision to cut rates by three-quarters of a percent proved the policy group has grown far more pessimistic about the outlook for the world's largest economy
The greenback was mixed against the majors, higher against the sterling and yen but softer versus the euro. Economic data released earlier in the session saw pending homes in February fall by 1.9%, more than double the expected 0.7% decline
USD/CHF rebounds from 1.0014 to as high as 1.0171 but lacks decisive buying to push it through 1.0216 resistance yet. Outlook remains neutral as the pair is still bounded inside established range of 0.9870 and 1.0249. On the upside, above
GBP/JPY's fall from 205.09 resumes and dives further to as low as 201.35 today. As discussed before, failure to sustain above short term channel resistance (now at 203.95) and 4 hours MACD's stay below signal line suggest that an intraday
Cable's fall from 2.0049 extends further to as low as 1.9774 today. The failure to take out mentioned near term trend line resistance (now at 2.0018) and the strength of the current fall is adding favor to the case that
Sterling remains generally weak as traders are anticipating another rate cut from BoE this week. In addition, the pound is pressured after Halifax house price showed another month of decline by -2.5% mom dragging yoy rate much lower to 1.1%.
EUR/JPY edges higher to 161.71 earlier but fails to sustain above 161.38 resistance yet. As discussed before, upside momentum is seen diminishing with 4 hours MACD staying below signal line and mild bearish divergence condition in 4 hours RSI. An
