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Gold Weakens Ahead of FOMC Meeting

COMEX gold futures fell sharply in early trading on Monday, losing over $12 per ounce. Recent positive economic data out of the US, including a robust employment report, has fueled speculation that the Federal Reserve may hike interest rates sooner than expected. Analysts will be watching very caref

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Rouble and Krone Crushed as Oil Tanks

NYMEX WTI crude oil futures sank below $60 on Thursday to a new new 5 and a half year low. The decline in price has been sharp in 2014, with prices falling by 45% since June. Oil prices were most recently pressured lower as the International Energy Agency (IEA) cut its 2015 demand forecast for the f

November US Retail Sales Beat Expectations, Largest Gain in 8 Months

The Commerce Department reported on Thursday that US Retail Sales rose by a seasonally adjusted 0.7 percent in November, as falling energy prices and an improving labor market helped fuel holiday shopping. The figure beat analyst expectations of 0.4% and rose from a 0.5 percent gain in October, revi

Bank of Russia Under Pressure to Hike Rates at Policy Meeting on Thursday

The Russian Rouble is trading near all-time lows against the US Dollar amid the recent collapse in oil prices and sanctions over the crisis in Ukraine. Economists anticipate that the Bank of Russia will raise its key interest rate to as high as 12% from 9.5% when they meet on Thursday. The sharp sel

Yen Boosted By Safe Haven Demand as Global Stocks Teeter

The Japanese Yen rebounded on Tuesday as crude oil prices reached new 5-year lows and global stock indexes reversed lower. Disappointing trade data out of China earlier this week helped to push oil prices downward, while concerns rose that the fall in price oil may be driven by weak demand rather th

Crude Oil Futures Nearing Fresh 5-Year Lows While Dollar Rises to Key Resistance

NYMEX crude oil futures started out the week by trading lower for the fifth consecutive day, nearing the lowest levels since July of 2009. Crude oil prices have sold off sharply since July of 2014, amid rising levels of supplies and OPEC’s decision to leave its output target unchanged. Crude o

Dollar Nears 8-Year Highs After Non-Farm Payrolls Beat Expectations

The US Dollar came near to reaching the highest levels since 2006, after the release of news that Non-Farm Payrolls beat analyst expectations by a wide margin. The Labor Department reported on Friday that the US added 321K new non-farm jobs in November, exeeding analyst expectations of a gain of 225

Euro Bounces as ECB Waits on QE

On Thursday the European Central Bank (ECB) announced that it will hold the interest rate for main refinancing operations at 0.05%. The announcement came out in line with analyst expectations. Later on Thursday, European Central Bank President Mario Draghi said policy makers will wait until the firs

EUR/USD Falls to 2-Year Low Ahead of ECB Thursday

The Euro weakened to its lowest levels against the US Dollar since August of 2012 in early trading on Wednesday. The pair had formed a double bottom at the 1.2353 level which was violated during the London trading session. Markit Financial Information Sevices reported on Wednesday that Eurozone Fina

USD/JPY Rallies to Fresh 7-Year Highs

The meteoric rise of USD/JPY continued on Tuesday, with the pair soaring to highs last seen in August of 2007. The Japanese Yen has been weakening against the US Dollar since the Bank of Japan announced further quantitative easing a month ago. Meanwhile, Federal Reserve board chairman Janet Yellen c