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2 Jun 2016

Gold settles lower amid hawkish comments from Fed speakers

Gold edged slightly lower on Thursday after comments from Fed officials continue to lift expectations of a rate hike in June or July.

Gold futures fell $2.10, or 0.2%, to settle at $1,209.80 an ounce on Comex, after hitting a high of $1,217/oz.

Gold bulls took a step back after  Dallas Federal Reserve Bank President Robert Kaplan  said Thursday that US economy is getting to the point where it makes sense to hike in either June or July.

Gold technical view

“Having remained within Wednesday's range, the daily chart for spot maintains a bearish tone, as the price is well below its 20 and 100 SMAs, whilst the technical indicators extended their declines within negative territory and are currently near oversold levels,” said Valeria Bednarik, chief analyst at FXStreet. “Shorter term,  the commodity presents a neutral stance, as in the 4 hours chart, the price is hovering around a horizontal 20 SMA, whilst the technical indicators are flat around their mid-lines.”

Support levels: 1,208.30 1,199.50 1,190.90. Resistance levels: 1,223.50 1,232.10 1,241.70.

Jun 2, 2016

EUR/USD ends the day lower after ECB, NFP eyed

EUR/USD retreated from daily highs and ended the session lower as the euro weakened following the ECB meeting and Draghi presser. The ECB decided to
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Jun 2, 2016

GBP/CAD finishes lower after 2 days of gains

The GBP/CAD cross closed the day higher on Thursday, although off session highs, following 2 days of losses. GBP/CAD recovered from a 2-week low set
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