Gold traded near a seven-year high on concern that the coronavirus outbreak will retard global growth, coupled with speculation the Federal Reserve will ease monetary policy before the year-end. Palladium held near a record after building on a powerful rally. Bullion is rising at a time when U.S. stocks are at an all-time high even as traders weigh the global impact of the disease. While Hubei, the province at the center of the outbreak, reported fewer cases after another revision to its counting method, there are signs of deepening economic damage. In addition, two...

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Gold extended its steady decline from intraday highs, around the $1330 area, and is currently placed at the lower end of its daily trading range. Having failed to capitalize on Friday's attempted bounce, the precious metal traded with a mild negative bias and has now moved within striking distance of last week's swing low. The commodity did get a minor lift during the Asian session on Tuesday...

The dollar held near a one-week low against its rivals on Tuesday as currency markets waited for testimony from Fed Chairman Jerome Powell that might give a further boost to risk appetite. Risky assets had a strong start to the week with the Chinese currency hitting a seven-month high on Monday after U.S. President Donald Trump confirmed he would delay a planned hike in tariffs on Chinese...

Oil is stumbling after a 30 percent rally since Christmas Eve as speculation swirls over whether OPEC will heed Donald Trumps call to temper prices. Futures in New York extended losses after sliding 3.1 percent on Monday, the most in four weeks. While crude is still over 25 percent below a four-year high in October, the U.S. president tweeted on Monday that prices are getting too high and...

Gold prices edged higher on Tuesday in Asia as traders await a batch of key U.S. economic data due later this week. At 12:30 AM ET (05:30 GMT), Gold Futures for April delivery on the Comex division of the New York Mercantile Exchange was up $2.05, or 0.15%, to $1,331.55 a troy ounce. On the data front, traders will be closely monitoring the U.S. fourth-quarter GDP, which is set to be released...

EUR/USD may rise well above 1.14 if Powell talks dovish during his testimony despite the recent optimism on trade. The common currency picked up a bid near 1.1330 yesterday, but the ensuing gains were capped near $1.1370 - a level which has acted as strong resistance since Feb. 20. That key hurdle is level is being probed at press time and could be breached if the German Gfk consumer...

Palladium surged to a record high on Tuesday, rising above $1,550, as the threat of strikes in the South African mining industry aggravated supply concerns in an already tight market, while gold prices were firm on a subdued dollar. Spot palladium, which rose to as high as $1,553 per ounce, was up 0.7 percent at $1,552 as of 01:28 GMT. Spot gold was flat at $1,327.40 per ounce, while U.S. gold...

The yen on Tuesday hovered near its weakest against the dollar this year after optimism over Sino-U.S. trade negotiations boosted investors appetite for riskier assets during the previous session. Sterling spiked to its highest since Jan. 31 on reports that British Prime Minister Theresa May was considering delaying a deadline on the exit of the United Kingdom from the European Union. The...

Oil held losses below $56 a barrel after tumbling the most in four weeks as U.S. President Donald Trump tweeted that prices are too high and called on OPEC to œrelax and take it easy. Futures in New York were little changed after declining 3.1 percent on Monday. Trumps war of words with the Organization of the Petroleum Exporting Countries punctuated big price...

PRECIOUS METALS
Gold Hits Seven-Year High on Fears Virus Will Hurt Global Growth
Thursday, 20 February 2020 08:20 WIB Gold traded near a seven-year high on concern that the coronavirus outbreak will retard global growth, coupled with speculation the Federal...
ENERGY
Oil Extends Gains as Supply Disruptions Outweigh Virus Impact
Thursday, 20 February 2020 07:37 WIB Oil rose for a second session in Asian trade as investors focused on supply disruptions in Venezuela and Libya and continued to shrug off the...
CURRENCIES
AUD/USD drops following higher than expected Aussie Unemployment Rate
Thursday, 20 February 2020 08:08 WIB AUD/USD declines to 0.6678 after flashing the intra-day low of 0.6668 as Australia™s employment data disappoints Aussie traders on early...

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