Forex Marketz Daily Forex News – Fully Markets Update
Gold futures inched higher during this morning’s Asian trade hours. The yellow metal, during the previous trading session, hit a two week high. Traders are worried over Brexit as well as a weaker dollar. News that two euro skeptic ministers left the British parliament has jarred the Forex markets.
As of 1 am GMT, the widely traded spot gold futures contract, XAU/USD, was last trading at $1,258.12 per ounce. This is up 0.1 percent from yesterday’s settlement. The bullions was trading at its June 26 high, on Monday, at $1,265.87 per ounce.
U.S. gold futures, for August delivery, fell. They lost 0.1 percent to last trade at $1,258.70 per ounce.
Gold Traders watch Headlines out of the United Kingdom and Brexit
Prime Minister Theresa May’s foreign minister and chief Brexit negotiator resigned yesterday. They quit in protest at May’s plans to keep trade ties with the European Union after the United Kingdom withdraws. She appears to have some rebellion in her political party.
The United Kingdom’s exit from the European Union could stunt economic growth in the Eurozone. These were comments made by EU Central Banker Ewald Nowotny.
In other economic news within the Asian region, the Bank of Japan maintained its upbeat economic assessment. However, they see some issues with companies worried about rising costs thanks to labor shortages. This is an indicator of a tight job market which might limit business activity.
President Donald Trump suggested that China could derail U.S. efforts to denuclearizing North Korea. Trump is still confident that Kim Jong Un, leader of the rogue state, will still keep their pact agreed on last month in Singapore.
