Gold Jan '13 (GCF13)
Gold Futures Market News and Commentary
The dollar index (DXY00) on Wednesday fell by -0.07%. The dollar fell slightly on Wednesday after the S&P 500 rallied to a new all-time high, reducing liquidity demand for the dollar. Also, geopolitical tensions eased and weighed on the dollar after the AP reported that the US and Iran had reached an “in principle agreement” to extend the ceasefire to allow more time for diplomacy. The US and Iran are considering extending their ceasefire, which ends on Tuesday, by another two weeks to allow more time to negotiate a peace agreement.
Losses in the dollar were limited on Wednesday from hawkish comments from Cleveland Fed President Beth Hammack, who said her baseline is that the Fed is on hold for a “good while.” Wednesday’s US economic news was mixed for the dollar after the Apr Empire manufacturing survey general business conditions rose more than expected to a 5-month high, but the Apr NAHB housing market index fell more than expected to a 7-month low.
The Fed Beige B... Read more
Barchart · 41 minutes ago
The dollar index (DXY00 ) on Wednesday fell by -0.07%. The dollar fell slightly on Wednesday after the S&P 500 rallied to a new all-time high, reducing...
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A major driver of safe-haven demand is currently playing out in the Middle East war.
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