Ready to Get Started?
Start here. Join over 3M Libertex users around the world!
Gold slams on the breaks as the traffic lights turn red when USD/JPY rebounds
ollowing on from earlier updates, noting the drop to fresh session lows in the USD/JPY, that has now rebounded again. This underscores what I have been saying about price action in the USD/JPY and its elevated implied volatility outpacing all that surrounds it. So, the USD/JPY is now pushing back towards 147.75 and that has caused Gold to slam on the breaks ahead of $2k. The metal reached a high at 1,994.35 earlier. It has since dropped back to below 1,985 and the reason for that is all due to the rebound in the USD/JPY its seems. The return to a more normal inverse correlation between the USD/JPY and gold was something that was highlighted here yesterday and again earlier today. So, as you can see, so far today that has remained in place for the time being. Gold is just now trading at $1,984.80
Market News
All News-
Bitcoin lifts above 84k as it continues to track tech and risk
As the US equity markets push higher again that has now seen the Nasdaq 100 lift above 19,600. Well, no surprise to see that this move has been... -
As expected Gold backs off from new all time high above $3000
As covered here earlier today, spot Gold rose above $3000 per ounce for the first time ever. Subsequent to the update covering that move, the metal... -
Dow Jones drops back after University of Michigan consumer sentiment index falls
The latest reading of the University of Michigan consumer confidence has just been released and it has missed badly on expectations. At the same time...
