XAU/USD Upbeat as the G7 Leaders Plan to Ban Russian Gold Imports
XAU/USD opened higher today, as the G7 economies are expected to sanction imports of Russian gold, based on the US President’s comments over the weekend
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
XAU/USD opened higher today, as the G7 economies are expected to sanction imports of Russian gold, based on the US President’s comments over the weekend
The US benchmark index is on the front foot, trying to exit from the bear territory and heads towards its first profitable week in a month
Against a backdrop of high inflation, tightening monetary environment and recession fears that has been detrimental to global stock markets, we take a look at some companies that will be on our radar over the coming months, as the third quarter and the new earnings season approaches
The German government entered into the second level of its emergency plan for gas yesterday, which sent GER30 lower, heading towards another losing week
Inflation in Japan stayed above the central bank’s target, as today’s data showed, while the pair is soft after Wednesday’s 24-year highs
The common currency is having a profitable week so far, but runs another losing month, contained by familiar key technical levels
US President Biden is considering a suspension of the federal gas tax and action could be announced within the day, in a backdrop of soaring prices and monetary tightening by the Fed which creates stagflation fears
The pair is soft, as headline Consumer Price Index (CPI) rose to 9.1% year-over-year in May, in the aftermath of last week’s fifth straight rate hike by the BoE in order fight it
XAU/USD is cautious and unable to find firm direction, as a volatile week draws to a close, during which we saw many central banks handing down their monetary policy decisions
The US central bank delivered its biggest rate increase in almost 30 years earlier in the week and tech sector reels, despite initial reaction higher
The Bank of Japan did not make any changes to its ultra-loose monetary policy, but made a rare reference in the foreign exchange, give the Yen’s weakness
Exchange: ${getInstrumentData.exchange}
${getInstrumentData.bid} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.