Dear Clients,
Tradeo ceased offering trading services last year in May. Trading and ancillary will not recommence, and the brand/platform will be permanently discontinued.
For the clients with remaining balances, kindly send a withdrawal request through your login or via chat or email. If there are any queries or concerns relating to your account or any other matter, please email us at [email protected]
Regards,
Tradeo
18 October 21
The Market data was collected on 18 October 2021 at 09:30, and might have changed since then. Kindly refer to the listed sources for the most recent and updated information.
Gold Down, but Caps Losses as U.S. Bond Yields Ease
Gold was down on Monday morning in Asia, recouping some losses after a steep sell-off during the previous session as U.S. bond yields eased.
Gold futures inched down 0.03% to $1,767.75 by 11:49 PM ET (3:49 AM GMT), clawing back losses after sliding 1.6% on Friday.
The benchmark U.S. 10-year Treasury yields eased after rising to a high of 1.5904% on Monday. Meanwhile, the dollar, which usually moves inversely to gold, edged up on Monday. However, it slipped 0.6% from the previous week’s 20212 highs, capping the yellow metal’s losses.
Although investors are betting that inflation could mean earlier-than-expected interest rate hikes from the U.S. Federal Reserve, other central banks might be less aggressive over the tightening cycle. However, Bank of England Governor Andrew Bailey said on Sunday that the central bank is prepping an interest rate hike as inflation risks mount.
In another indicator of sentiment, SPDR Gold Trust (P:GLD) GLD (NYSE:GLD) said its holdings fell 0.3% to 980.1 tons on Friday from 982.72 tons the day before.
https://www.investing.com/commodities/gold-streaming-chart
Dollar wavering as global inflation surges; kiwi jumps
The dollar made a wobbly start to the week on Monday with the kiwi and sterling edging higher after a red-hot inflation readout in New Zealand and hawkish remarks from Britain’s central bank chief that put rate rises in investors’ sights.
The dollar index has now slipped about 0.6% from last week’s 2021 highs as investors figure that while price pressures might pull forward hikes by the Federal Reserve, other central banks may need to be more aggressive over the tightening cycle.
New Zealand reported its biggest quarterly jump in consumer prices in a decade on Monday. Bank of England Governor Andrew Bailey said on Sunday that surging energy prices would prolong a pulse in inflation and policymakers “will have to act” if they see risks.
The data lifted the kiwi by about 0.3% to a one-month high of $0.7105. Sterling rose 0.1% to $1.3762, just shy of Friday’s one-month high of $1.3773. [NZD/]
The Australian dollar was also near its highest in six weeks and oscillated around $0.7413. Oil futures stood at fresh three-year highs and stoked expectations that even more price rises are heading along global supply chains. [O/R]
https://www.investing.com/news/economy/dollar-wavering-as-global-inflation-surges-kiwi-jumps-2646193
https://www.investing.com/currencies/nzd-usd-chart
Oil prices climb as COVID recovery, power generators stoke demand
Oil prices hit their highest level in years on Monday as demand recovers from the COVID-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel.
Brent crude oil futures rose 90 cents, or 1.1%, to $85.76 a barrel by 0445 GMT, after hitting a session-high of $86.04, the highest price since October 2018.
U.S. West Texas Intermediate (WTI) crude futures climbed $1.23, or 1.5%, to $83.51 a barrel, after hitting a session-high of $83.73, highest since October 2014.
Both contracts rose by at least 3% last week.
“Easing restrictions around the world are likely to help the recovery in fuel consumption,” analysts from ANZ bank said in a note on Monday, adding that gas-to-oil switching for power generation alone could boost demand by as much as 450,000 barrels per day in the fourth quarter.
Cold temperatures in the northern hemisphere are also expec
https://www.investing.com/commodities/brent-oil-streaming-chart
Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. UR Trade Fix Ltd accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Past performance does not constitute a reliable indicator of future results and future forecasts do not constitute a reliable indicator of future performance.
It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests when providing our services
