Tag Archives: FOMC
Gold backs off on ECB statement
In the run up to European Central Bank President Mario Draghi’s speech, gold bugs saw the price of gold (GLD, quote) climb as high as $1,716.90. Unfortunately, the price move was dampened in the wake of the actual event. Yes, the rumors of bond buying was confirmed in a move described as an “outright monetary transaction” plan with the ECB’s reiteration that the euro zone’s recuse funds “should” be used to participate in bond markets.
Energy traders turning cautious
Energy traders began the European session with caution thanks to growing anxiety over the global economic landscape.
Emerging markets morning brief
Emerging markets in Asia last night were under pressure after U.S. markets fell on weaker than expected manufacturing data. Commodity prices continue to move lower ahead of the European Central Bank meeting and Non-Farm Payroll report tomorrow and Friday respectively.
Binary decision looms for gold bugs
Weak U.S. manufacturing data could be good news for gold bugs, having now officially contracted for the third month in a row and flaring up speculation that the FOMC will initiate another round of quantitative easing (QE3) at the next scheduled meeting.
EUR/USD will move sharply on ECB and FOMC events
The EUR/USD moved lower as traders jockeyed positions ahead of the ECB and FOMC meetings this week and next.
Emerging markets morning brief
Overnight emerging markets came under pressure from the eurozone as rating agency Moody’s downgraded the European Union’s outlook.
Emerging markets morning brief
Overnight emerging markets equities were broadly lower. Market participants cautiously moved to the sidelines ahead of U.S. Federal Reserve Chairman Ben Bernanke’s speech from Jackson Hole at 10 a.m. EDT today.
Euro leaders give hope to the euro – then take it away
Earlier this week I mentioned Germany’s Chancellor Angela Merkel was meeting with Chinese Premier Wen Jiabao concerning the euro zone and trade between the two markets.
Emerging markets morning brief
Overnight equity markets were under pressure from commodity prices and poor earnings results ahead of U.S. Federal Reserve Chairman Ben Bernanke’s eagerly awaited speech tomorrow at the Jackson Hole central bank summit. Hong Kong lead emerging markets lower by 1.19% as the entire region closed in a sea of red ink.
