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Gold Retreats After Fed Maintains Policy Stance

COMEX gold futures fell sharply in Thursday trading, as the market digested the Federal Reserve policy statement released on Wednesday. The FOMC voted unanimously to keep interest rates intact until at least the summer of 2015. The central bank presented an upbeat view of the US economy, citing expa

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Initial Jobless Claims Beat Expectations, Lowest Since 2000

The Department of Labor reported on Thursday that Initial Jobless Claims fell to a seasonally adjusted 265K last week, the lowest level in almost 15 years. The figure beat analyst expectations of 300K. The prior week’s number was revised higher to 308K. Continuing Jobless Claims, which measures th

AUD/USD Slides to Fresh 5-Year Lows Amid RBA Rate Cut Expectations

The Australian Dollar fell to it’s lowest levels against the US Dollar since May of 2009 in early trading on Thursday. Falling commodity prices and disappointing business confidence have increased speculation that the Reserve Bank of Australia (RBA) will cut rates in the coming months. The key

EUR/USD Collapses to Fresh 11-Year Lows Ahead of Greek Elections

EUR/USD sank to it’s lowest levels since September of 2003 on Friday, after the European Central Bank exceeded market expectations with its QE program to boost the economy and stem deflation. ECB President Mario Draghi announced yesterday the long awaited plan to buy $60 billion euros ($68 bil

Jobless Claims Miss Expectations

The Labor Department reported on Thursday that initial jobless claims fell to a seasonally adjusted 307K for the week ended January 17th. The figure missed expectations of 300k. The prior week’s figure was revised upwards to 317K. Continuing Jobless Claims came in at 2,443K, missing analyst e

Gold Surges on Safe Haven Appeal Ahead of ECB

COMEX gold futures rallied to the highest levels seen since August of 2014 in early trading on Tuesday, amid fears over the weakening Euro. Analysts widely expect the European Central Bank (ECB) to announce plans for stimulus at its meeting on Thursday, adding further pressure to the single currency

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

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